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BKW Energie AG

BKW FMB Energy Ltd: Positive revenue and profit performance - Preliminary information on 2005 results

Berne (ots)

Fiscal 2005 has been a good year for BKW FMB Energy
Ltd. Despite various negative special effects such as damage to the
Leibstadt nuclear power plant generator and below-average inflows to
hydroelectricity plants, the annual result once more improved. In
2005 Group profit rose year-on-year by 40.9% to CHF 306.7 million,
while total operating revenue increased by 12.4% or CHF 218.9 million
to CHF 1,989.1 million. This result was attributable in particular to
good performance in the internal market, in the electricity trading
and international sales areas, as well as a highly satisfactory
financial result.
Total operating revenue for 2005 rose by 12.4% from CHF 1,770.2
million to CHF 1,989.1 million as a result of higher prices on the
international market and positive sales performance in Switzerland.
Sales in Switzerland in the cantons of Berne, Jura, Basle Country,
Neuchâtel, Solothurn and Obwalden rose by 1.4% to 7,058 GWh due to
higher demand from existing customers and the acquisition of new
customers. Revenue from trading was also up by 3.2%. BKW's
subsidiaries in Germany and Italy expanded their activities in 2005
and improved energy sales by 2.8%. The results were positively
impacted towards year-end by the opening of the Bernina line, which
virtually doubled BKW's transmission capacity to Italy. 
Electricity generation fell year-on-year by 538 GWh from 9,413 to
8,875 GWh, largely as a result of loss of production at the Leibstadt
nuclear power plant. By contrast, uninterrupted production at
Mühleberg nuclear power plant resulted in an annual output of 2,856.6
GWh. Hydroelectricity volumes fell by 2.3% from 3,572 GWh to 3,489
GWh on account of severe weather conditions in the second half-year.
Output dropped at run-of-river power plants due to low precipitation
volumes.
Operating income before interest, taxes, depreciation and
amortisation (EBITDA) increased by 11.9%, ending the year at CHF 431
million, while profit was up 40.9% at CHF 306.7 million thanks to the
excellent financial result.
Based on these results, a dividend of CHF 2.50 per share (2005:
CHF 1.80 per share) will be proposed to the General Shareholders'
Meeting on 19 May 2006.
Forthcoming dates
Annual press conference on the 2005 financial results: 6 April
2006 in Berne
General Shareholders' Meeting: 19 May 2006, in Hall 220 of the BEA
complex, Berne
2006 half-yearly report: 19. September 2006
Facts & Figures
Income Statement      2005            2004                % change
                      CHF (million)   CHF (million)
                                      (restated)
Total operating 
revenue              1,989.1          1,770.2              12.4
Operating income 
(EBITDA)             431.0            385.1                11.9
Net profit for 
the year            306.7             217.7                40.9
Electricity business     2005         2004                % change
                         GWh          GWh
Electricity sales 
Switzerland            7,058          6,962                1.4
Electricity sales 
International          3,774         3,672                 2.8
Electricity 
trading                7,044        6,829                  3.2
Pump/substitution 
energy                  665            541                 22.9
Transmission losses 
and own consumption     363           305                  19.0
Total sales          18,904         18,309                 3.3
Volume generated 
by hydroelectric 
plants                3,489         3,572                -2.3
Volume generated
by nuclear power 
plants incl. 
purchase
contracts             5,371        5,828                -7.8
Volume generated 
by decentral plants     15            13                15.4
Trade (purchases) 
and energy buy-backs  10,029      8,896                 12.7
Total purchases       18,904     18,309                 3.3

Contact:

BKW FMB Energie AG
Antonio Sommavilla
Media Communications
Viktoriaplatz 2
3000 Bern 25
Tel.: +41/31/330'51'07
Fax; +41/31/330'57'90
E-Mail: info@bkw-fmb.ch

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