2005

Annual Report 2004/05

Dietikon,  Wednesday, December 14, 2005

As previously announced, the 2004/05 financial year proved to be a difficult one for EGL. Even though it succeeded in increasing physical energy sales by 6.0% to 59.8 TWh and net sales by 25.0% to CHF 4,010.4 million, this was offset by an even larger rise in procurement costs, which rose 30.5% to CHF 3,776.6 million. This resulted in a 29.6 % drop in gross margins and – coupled with one-off revenue shortfalls – to a 36.2% decline in company earnings to CHF 124.6 million. In spite of these difficult conditions, EGL continued to expand its new business areas and made good progress in all aspects of its corporate strategy implementation.

Change in the Executive Management

Dietikon,  Friday, October 28, 2005

Dr. Peter Manz, the current Head of Finance & Operations, will leave EGL as of 31 December 2005 to pursue a new challenge outside the company.

Hydro Kraft acquisition by EGL Nordic AS completed

Dietikon, Oslo,  Monday, October 3, 2005

As announced in May, the EGL Nordic AS entered into an agreement to buy all shares of Hydro Kraft AB, formerly the Swedish power supply and portfolio management company of Hydro Oil & Energy.

EUR 2 million for new renewable energies - EGL invests in biomass projects in Spain

Dietikon,  Wednesday, September 28, 2005

EGL invests in two biomass power plants and a biomass supplier in southern Spain. This investment is a further step in the strategically important development of the company’s own assets and production capacity in key markets. It will also help the Axpo Group to fulfil its aim of investing in new renewable energies where practical and economically sustainable in terms of the resources available.

Expansion of business activities in the Netherlands - EGL to join Endex, the Dutch energy derivatives exchange

Dietikon,  Thursday, September 22, 2005

Deriwatt – EGL’s (Elektrizitätsgesellschaft Laufenburg) energy derivatives division – shall become a member of the Dutch energy derivatives exchange, European Energy Derivatives Exchange N.V. (Endex) in Amsterdam. EGL is thereby expanding its business activities in the Netherlands.

EGL invests in wind energy in Italy

Dietikon,  Thursday, September 1, 2005

EGL has signed an important long term agreement for the purchasing and marketing of wind energy, coming from four productive Sicilian sites for a total power of 100 MW.

EGL acquires stake in Austrian certificate registry ECRA

Dietikon,  Monday, July 4, 2005

EGL AG has acquired a 2% stake in ECRA (Emission Certificate Registry Austria GmbH) of Austria. This acquisition strengthens EGL's involvement in Europewide CO2 emissions trading.

Establishment of new business areas on track / Net profit down as margins narrow

Dietikon,  Wednesday, June 1, 2005

The first half of 2004/05 finished substantially below expectations. Although net sales were up by 16% and energy sales by 2%, higher procurement costs and lower margins in transit operations with Italy led to a reduced net profit of CHF 69 million (previous year CHF 133.2 million). This result will have no effect on the intensive expansion of new business operations. On the contrary: EGL sees this as confirmation of its strategy of establishing its own production capacities in key markets.

Hydro Kraft to be acquired by Swiss energy company EGL

Dietikon,  Thursday, May 26, 2005

On May 18, the EGL Group entered into an agreement to buy all shares of Hydro Kraft AB, the Swedish power supply and portfolio management company of Hydro Oil & Energy. The acquisition complements EGL’s existing activities in the Nordic market and will make EGL the fourth largest power supplier in Sweden.

Unexpected changes depress margins in transit business with Italy

Dietikon,  Tuesday, May 3, 2005

During the first half of 2004/05, unexpected regulatory changes led to significantly reduced margins in transit operations with Italy. This means EGL will not achieve its targeted overall result for financial 2004/05. However, this development will have no effect on the Group's plans to continue setting up and expanding new business areas. On the contrary, it merely confirms EGL's strategy of establishing its own production capacities in Italy.

EGL with unchanged dividend

Laufenburg/Dietikon,  Friday, January 28, 2005

The ordinary general meeting of the Elektrizitäts-Gesellschaft Laufenburg AG (EGL) approved the annual financial statement for the business year 2003/04 (ending 30 September 2004) and decided to pay out a dividend of 30 percent, corresponding to CHF 15.00 per share.