VERBUND Subsidiary AHP: Very Good Performance in 2002


VERBUND-Austrian Hydro Power AG (AHP) ended the business year 2002 at a very good outcome, in spite of the additional burden caused by the flooding of the century last August and the difficult situation in the financial and stock markets.

Sales increased to Euro 505.6 million. The EBIT recorded in the year-end results of 12/31/2002 amount to Euro 117.2 million, the profit for the year after tax was Euro 11.6 million.

This outcome reflects not only the higher-than-average available water supply but also the continued efforts to reduce costs and increase productivity.

In 2002, the AHP hydroelectric power plants generated more than 25.3 billion kWh of electric current, i.e. 11.6 % more than in a normal year. The good water regime recorded north of the Alpine ridge in the second half of 2002 was the deciding factor for this positive result. On the Danube alone, readings 30 % above the average of many years were recorded.

From the successful integration of the hydroelectric power plants of STEWEAG and Steg in the course of 2002 AHP emerged as the by far largest Austrian power producer. Today, AHP has 89 hydroelectric power plants generating about 22.7 billion kilowatt hours (kWh) of electric power in a normal year.