2010

Online Annual Report 2009/10

Dietikon,  Sunday, January 23, 2011

Unsatisfactory net profit – Measures introduced

Dietikon,  Thursday, December 16, 2010

The EGL Group achieved a net profit of CHF 25.3 million in the 2009/10 financial year, significantly lower than the previous year (CHF 186.7 million). The reasons for this are a lower gross margin due to the difficult market environment, the drop in the value of the euro against the Swiss franc, outage at the Bugey nuclear power plant, as well as exit costs in connection with the Energy Plus power plant project. Positive performance in the fourth quarter meant that the company was able to avoid the forecasted negative results. A stronger focus on strategy implementation and cost-cutting measures will ensure sustainable profitability.

Best electricity retailer in the country signs energy agreement with EGL Sverige AB

Karlstad och Malmö,  Thursday, December 9, 2010

Karlstads Energi AB has chosen to enter into an agreement with EGL Sverige AB in Malmö. The cooperation, starting in January 2011, is for portfolio management and physical delivery.

EGL expects a negative net profit

Dietikon,  Wednesday, July 28, 2010

The EGL Group expects a negative net profit in the lower 2-digit million range for the current financial year 2009/10. Causes can be attributed to the further serious weakening of the euro exchange rate, significant effects on costs, as well as under proportional margin development for the trading business in the 3^rd quarter of the current financial year 2009/10, mainly stemming from the trading hub for Central and Central Eastern Europe in Dietikon.

Financial close confirms E.ON Ruhrgas as new partner in TAP

Baar,  Wednesday, July 7, 2010

Statoil and EGL today announced the successful financial close of E.ON Ruhrgas’s 15% shareholding in the Trans Adriatic Pipeline (TAP) project.

EGL participates in wind park in Spain

Dietikon,  Tuesday, June 29, 2010

The EGL Group, a pan-European asset-backed energy trading company, has purchased 46% of Parque Eólico La Peñuca SL, owner of the wind park La Peñuca with 33 MW installed capacity. This acquisition underscores EGL’s strategy to increase the share of renewable energies in its portfolio. In Spain, EGL manages a portfolio of renewable energies with more than 6,500 MW installed capacity via its subsidiary EGL Energía Iberia SL. EGL has in depth knowledge of the Spanish wind energy market, as 71% of the managed portfolio corresponds to wind parks. The developer and operator of the wind park, Energías Renovables del Bierzo (ERBI) owns 51% of La Peñuca.

Representative office opened in Azerbaijan

Dietikon,  Thursday, June 24, 2010

In order to underpin potential partnerships in the gas business, EGL has opened its own representative office in Baku. Reason: Natural gas from Azerbaijan is an ideal complement in EGL’s procurement portfolio alongside Russian and Iranian natural gas. With the planned additional natural gas from Azerbaijan, the Swiss energy trading company also supports the EU goals to increase supply security and diversification of supply sources.

Statnett enters into the NorGer project

Dietikon,  Wednesday, June 23, 2010

Statnett, Norway’s national power grid company, has entered the NorGer project and will develop the project further in cooperation with the present NorGer parties - Lyse, Agder Energi and the Swiss energy trading company EGL. Statnett has acquired a fifty per cent share in the planned NorGer HVDC electricity cable project between Norway and Germany while Lyse, Agder and EGL are now holding a 16.67 per cent each. The agreement underlines the ambition of Statnett to control and coordinate all Norwegian interests in ongoing interconnection projects.

A change of colour at EGL

Dietikon,  Monday, April 26, 2010

The EGL Group has a new look. Liberalisation of the European energy markets on the one hand, and the EGL Group’s steady evolvement into a successful pan-European energy trading company on the other hand have led to an adaptation of the corporate design.