Dietikon, Петък, 2009, Януари 30
The 52nd Annual General Meeting of Elektrizitäts-Gesellschaft Laufenburg AG (EGL) approved the financial results for the 2007/08 business year ended 30 September 2008. Shareholders also approved a dividend of CHF 18.00 per share. The challenging economic environment and regulatory changes especially in Switzerland will influence the result in the current financial year.
The Executive Management of EGL presented the results for the 2007/08 financial year before an audience of 158 shareholders (representing 90,93% of the voting shares) at the company’s 52nd Annual General Meeting in Baden. Adjusting for the special effects which impacted the previous-year figure, net profit was 110% higher at CHF 315.4 million and was largely attributable to revenue from energy derivatives trading. Gross margin increased by 77% to CHF 780.8 million.
The EGL shareholders approved the 2007/08 financial results and an unchanged dividend of CHF 18.00. The EGL Board of Directors was discharged and the appointment of the statutory auditors of EGL was confirmed for a further year.
In their presentations Board Chairman Heinz Karrer, CEO Hans Schulz and CFO Andreas Rudolf reported on the successful 2007/08 business year and on the status of ongoing projects. CEO Hans Schulz gave a cautionary warning in his outlook for the current year: “The financial crisis is hitting energy trading markets and the demand for energy in the real economy. Project financing is currently not possible, while regulatory changes are causing unease in Switzerland and Italy. In light of this, any forecast on business performance for the current business year is subject to great uncertainty at this point in time.“
Further information
Media:
Lilly Frei, Head of Corporate Communications, Tel. +41 44 749 40 10, media@egl.eu
Investors:
Dominik Anderhalden, Head of Investor Relations, Tel. +41 44 749 46 15, investor@egl.eu
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EGL General Meeting 2009
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EGL General Meeting 2009 Presentation
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