2009

EGL Group in the 2008/09 financial year

Dietikon,  Tuesday, December 15, 2009

The EGL Group achieved a good trading result overall in the 2008/09 financial year. The energy markets were characterised by a decline in demand, falling prices and seasonal volatility. In this challenging environment, EGL was able to increase its gross margin by 4% to CHF 810.4 million. Net profit was down to CHF 186.7 million (previous year: CHF 315.4 million), which reflects higher depreciation, a negative financial result and higher operating expenses. EGL is financially solid and is investing in the further expansion of its business areas. In the last financial year it created 176 new full-time positions.

EGL to invest in an offshore wind farm in the North-Sea

Dietikon,  Friday, December 4, 2009

The EGL Group is to acquire a 24.1% stake in Wetfeet Offshore Windenergy GmbH, which is planning to build a 400-megawatt wind farm off the north coast of Germany. An agreement to this effect is being signed today in Wolfschlugen, near Stuttgart (Germany).

LNG Japan Corporation and EGL Sign Partnership on Liquefied Natural Gas

Dietikon,  Thursday, October 22, 2009

LNG Japan Corporation and Swiss-based EGL Group have signed a memorandum of understanding (MoU) in Tokyo today to develop a partnership on liquefied natural gas (LNG). The long-term partnership will focus on the procurement and marketing of LNG in various markets worldwide.

EGL Finland

Dietikon,  Friday, July 10, 2009

EGL (Elektrizitäts-Gesellschaft Laufenburg AG) is expanding its market presence in the Nordic region by establishing the subsidiary EGL Finland Oy in Finland and opening a new origination office in Helsinki.

TAP starts route assessment survey in Albania

Dietikon,  Monday, July 6, 2009

The Trans Adriatic Pipeline (TAP) project, which is developed by EGL and Norway's StatoilHydro ASA, started a route assessment survey in Albania on 1st of July, 2009. The goal of the survey is to determine an optimal routing for the future pipeline.

Good result in an extraordinary economic climate

Dietikon,  Thursday, June 4, 2009

The EGL Group increased its gross margin to CHF 437.0 million (+27%) in the first half of 2008/09 despite tough market conditions. Net profit fell marginally to CHF 123.1 million (-2%). The company made significant progress in all three strategic business areas.

EGL expanding to the UK

Dietikon,  Wednesday, May 27, 2009

EGL (Elektrizitäts-Gesellschaft Laufenburg AG) is expanding its market presence in Europe opening a new trading hub in the United Kingdom (UK) having recently established the subsidiary EGL UK in London.

EGL appeals against ElCom ruling

Dietikon,  Saturday, May 23, 2009

EGL Grid AG, owner and operator of a high-voltage network in Switzerland, is exercising its right to appeal to the Federal Administrative Court against the ElCom ruling concerning "Costs and tariffs for level 1 grid usage and ancillary services". The company believes that the value of its assets, which it has declared correctly and transparently for years, will be unfairly reduced as a result of this ruling. EGL Grid AG cannot accept such a reduction in value.

EGL invests in wind power in Sweden

Dietikon/ Malmö,  Tuesday, March 10, 2009

EGL (Elektrizitäts-Gesellschaft Laufenburg AG) entered into an agreement to buy 51.6% of the shares of HS Kraft AB, a developer of wind power projects in Sweden. This acquisition will give EGL access to a large pipeline of projects for exploiting wind power in southern Sweden.

Change in the EGL Executive Management

Dietikon,  Friday, January 30, 2009

The EGL Board of Directors has appointed Domenico De Luca as a Member of Executive Management and as the new Head of the Energy Trading & Origination Division. Domenico De Luca replaces Harald von Heyden, who is stepping down for family reasons and will return to Norway as Managing Director of EGL Nordic.

EGL - no change in dividend

Dietikon,  Friday, January 30, 2009

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.

Marine Survey to Verify Offshore Route for the TAP

Dietikon,  Thursday, January 22, 2009

The Trans Adriatic Pipeline project will start a seabed survey in the Adriatic Sea on 26 of January to verify the route for the underwater section of the new gas pipeline.