Utilities

The latest utilities industry and company news and analysis from FriedlNews
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EVN Seen Raising Net Profit to EUR 87.8 Mln in Fiscal Q1

Listed power group EVN will likely post EUR 87.8 million (USD 99.2 million) in Q1 FY 2014/15 net profit, up by 65 percent y/y, RCB analysts predict ahead of the release of the report slated for Thursday.

February 24, 2015

Verbund Raises Earnings Forecast and Dividend for 2014

Verbund AG announced today that the earnings forecast for financial year 2014 is being raised. Verbund expects EBITDA of around €800m (previous forecast: €770m) and a Group result of around €125m (previous forecast: €85m) in financial year 2014. The planned dividend continues to be based on a payout ratio of approximately 50% of the adjusted group result which in 2014 will be around €210m (previous forecast: €190m).

January 22, 2015

RWE Wants to Close Kelag Deal by March

German energy group RWE, which also holds a 38 percent stake of Carinthian energy provider Kelag, wants to complete the five billion euro sales deal of subsidiary Kelag to Russian investors by the beginning of March.

January 16, 2015

EVN with EUR 299 Mln Loss in 2013/14 due to Writedowns

The listed EVN made a EUR 299 million (USD 371.4 million) loss in the financial year 2013/14 due to high write-downs. In 2012/13 the company made a EUR 109.3 million profit. In 2014/15 the group wants to beat this result. Mild winter sank sales of energy. In Lower Austria EUR 1 billion will be invested in the next four years.

December 12, 2014

EVN Power Suffers EUR 299 Mln Net Loss in FY 2013/14

Listed power group EVN turned to EUR 299 million loss in FY 2013/14 from EUR 109.3 million profit a year earlier as the company booked EUR 269.5 million in annual impairments over such factors as company valuations in Bulgaria and Macedonia, difficulties in power plant in Moscow as well as generation capacities and investments in Austria, Germany and Bulgaria, the group's annual figures out Thursday showed.

December 11, 2014

Verbund Withdraws from Bulgaria

Verbund withdraws from Bulgaria by selling its 16 MW wind farm on the Bulgarian Black Sea coast to Inwind Sp Ltd, a project company of Bulgarian Inovent Holding AD. The transaction is scheduled to close by the end of 2014. Both companies agreed on not disclosing any financial details of the transaction.

October 30, 2014

Fischer: Room for Further Trade with Albania

Austrian President Heinz Fischer was paying a visit to Western Balkan States.

May 22, 2014

Austrian Prinzhorn Holding to Invest Massively in Hungary

Prinzhorn Holding will build its own power plant in Hungary to supply its paper factory in Dunaujvaros.

May 21, 2014

Czech Republic: CEZ Losing With RWE Contract?

A gas contract with German RWE is causing the Czech energy group losses in the billions.

May 12, 2014

Czech Republic: Rosatom to Complete Temelin?

Russian State Atomic Energy Corporation Rosatom presented an offer to complete the units of the Czech nuclear power plant Temelin.

May 12, 2014