VERBUND: Good start into the liberalisation year 2001

The increase in revenue from electricity sales to approx. 323 million EUR (24 %) is attributable to the intensified export business and first good results in the final customer market in Austria. The operating result showed an improvement of 4 million EUR (5 %) on the 1st quarter of 2000, increasing to 77.57 million EUR.

The share of exports in electricity sales is already bigger than 48 % and more than balances the marked decline in revenue from provincial companies. In Austria, too, a growth was recorded in the 1st Quarter of 2001, as new shares in the final customer market were gained.

Due to the continued consistent restructuring measures personnel expenses were reduced by approx. 10 million EUR (-12 %); other operating expenses were also reduced considerably, by approx. 11.5 million EUR (- 28%) in the first three months of 2001.

The brisk trading activities of VERBUND, which is one of the most active power traders in Central Europe, led to an increase in expenses for electricity buying by approx. 88 million EUR (99 %).

The finance result was clearly relieved by valuation-related exchange profits due to the weakness of the Japanese yen and continued debt clearance by approx. 31 million EUR or 60 %. As a result the profits before/after tax also increased considerably.

The profit per share rose significantly, to 1.27 EUR (1st quarter of 2000: 0.37 EUR).

In the next months, VERBUND will focus primarily on the marketing of hydroelectric power. Additional goals are the acquisition of final customers in Austria, gaining new slices in the markets abroad, and the massive extension of power trading.