Turnover increased by 34.9 to thousand million Euros and the annual surplus by 51.5 percent to million Euros.

Transcription

1 The third largest German energy company presents its annual report for 2001: In 2001, EnBW achieved significant growth in terms of turnover and earnings. Karlsruhe, Germany (ots) - Turnover increased by 34.9 to thousand million Euros and the annual surplus by 51.5 percent to million Euros. In 2001, EnBW achieved significant growth in terms of turnover and earnings: The turnover (without electricity tax) of the EnBW Group increased by 34.9 percent to thousand million Euros. The annual surplus of the third largest German energy company increased by 51.5 percent to million Euros. The result of normal business activity improved by 22.8 percent to million Euros. This is all revealed in the EnBW annual report for 2001 which was published on Tuesday in Karlsruhe. "Even in the fourth year of the liberalised energy market, EnBW has continued to expand successfully", said Dr. Reinhard Volk, the member of the board of EnBW responsible for finance, at the EnBW balance sheet press conference Even without taking into account the effects of the consolidation of the Neckarwerke Stuttgart AG (NWS) and Salamander AG, taking up a whole year, EnBW's turnover increased in the previous year, pointed out Dr. Volk. In 2001, EnBW also managed to gain clients and market share in Germany and accessible European energy markets both directly and in partnership with other companies. The continued efforts to optimise company structures and processes also bore fruit. In the electricity sector, EnBW's core business, the third largest German energy company also expanded in all customer areas in Overall, electricity turnover (after electricity tax) increased by 1,072 million Euros or 25.6 percent to 5,257 million Euros. Gas turnover has more than doubled from 316 million Euros to 689 million Euros, especially thanks to the full consolidation of NWS. Overall, the energy turnover of the EnBW Group increased by 1,505 million Euros or 32.8 percent from 4,593 million Euros to 6,098 million Euros. In terms of volume, electricity sales of the EnBW Group in 2001 increased by 19.4 TWh (thousand million kilowatt hours) - or 24.9 percent - from 77.9 TWh to 97.3 TWh. Including the electricity sales figures of companies in which EnBW has a stake without being at the same time an electricity pre-supplier, the electricity sales of the EnBW group amounted to TWh in Turnover in the waste disposal sector in 2001 remained exactly at the level of the previous year with 259 million Euros. EnBW turnover in the Industry and Services sector with the Salamander Group as a major player, increased by 527 million Euros or 54.0 percent to 1,504 million Euros. Materials expenditure increased in 2001 by 41.9 percent to 4,896.5 million Euros. Staffing expenditure increased by 20.9 percent to 1,615.4 million Euros. The average number of employees in the EnBW Group was 37,053 in 2001 compared to 27,327 in The increases in these three areas are mainly due to the expansion of the group and consolidation effects. Investments by the EnBW Group increased in 2001 by 1,517 million Euros or 78.7 percent to 3,445 million Euros. These figures above all are a reflection of EnBW's active strategy of taking stakes in companies in Germany and Europe. The stocks and shares belonging to fixed assets amounted to 4,243.8 million Euros on the 31st December million Euros more or 3.3 percent more than at the beginning of According to financial managing director Dr. Volk the confidence of the investors and reputable rating agencies supports EnBW's growth strategy: The first benchmark loan tranches in February within the framework of the "Debt Issuance Program (DIP)" were "very positively accepted" by the market. Prior to

2 this, the rating agencies Standard & Poor's and Moody's had explicitly confirmed their favourable assessment of EnBW's financial standing. The dividend for the financial year 2001 is increased from 0.46 to 0.66 Euro per share by the appropriate decision. Appendices: Appendix 1 At a glance Appendix 2 EnBW Group Balance Sheet on the 31st December 2001 Appendix 3 EnBW Group Profit and Loss Account from the 1st January to the 31st December 2001 Company Communication Appendix 1 to the press release/handout 2 for the At a glance EnBW Group Outside turnover Energy Million Euros 6,098 4,593 3,710 3,937 Waste disposal Million Euros Industry and Services Million Euros 1, Million Euros 7,861 5,829 3,998 4,167 Annual surplus Million Euros Cash flow Million Euros 1, ,181 Investments Tangible and intangible assets Million Euros 701 1, Financial fixed Assets Million Euros 2, ,335 Million Euros 3,445 1, ,013 Fixed assets Million Euros 11,833 11,934 7,350 7,260 Current assets Million Euros 6,817 5,119 4,883 3,721 Equity capital Million Euros 2,483 2,434 1,726 1,722 Average number of employees in the year Number 37,053 27,327 12,581 12,605 EnBW AG Subscribed capital Million Euros Equity participation Result Million Euros Interest result Million Euros Annual surplus Million Euros Dividend Million Euros Dividend per share Euro Tax credit per share Euro

3 Energy sales of the EnBW Group in thousand million kwh 2001 Electricity (including electricity supply companies in which stakes are held) Electricity 97.3 Gas 18.2 District heating in thousand million kwhth 3.6 Breakdown of electricity supplied by the EnBW group according to the primary energy sources 2001 Coal, oil, gas 23.0 % Nuclear energy 40.2 % Water and other renewable energies 9.8 % Primary energy not known 27.0 % Appendix 2 on the press release / handout 2 for the EnBW Group Balance sheet on the 31st December 2001 Assets Absolute Change Fixed assets Intangible assets 905,7 987,7-82,0 8,3 Fixed assets 5.136, ,8-53,9-1,0 Financial fixed Assets 5.790, ,6-55,3-0, , ,1-101,2-0,8 Current assets Reserves 706,5 715,0-8,5-1,2 Debtors and other fixed assets 4.522, , ,1 74,9 Securities Liquidity , , , Prepayments and accrued income , , , Liabilities Absolute Change Equity capital Subscribed capital Capital reserves Profit reserves Interests of

4 other shareholders Group profit , , Special items 1, , Reserves 10, , Liabilities 4, , , Prepayments and accrued income , , , Appendix 3 to the press release / handout 2 for the EnBW Group Profit and loss account From the 1st January to the 31st December 2001 Turnover 8, , , Electricity tax Turnover less electricity tax 7, , , Changes in stock Other work performed for own purposes Other operating earnings Material expenditure -4, , , Staff expenditure -1, , Depreciation Other operating Expenditure -1, , Financial result Result of normal business Taxes Annual surplus Interests of other Shareholders Withdrawals/allocations to profit reserves Group profit ots Original Text: Internet: Unternehmenskommunikation Durlacher Allee Karlsruhe Telefon: +49 (07 21)

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