Page 10 - KELAG Annual Report 2017
P. 10

The  KELAG  Group  is  one  of  the  leading  energy  service  providers  in  Austria.  KELAG-Kärntner
           Elektrizitäts-Aktiengesellschaft (KELAG), the parent company of the Group, is active across Austria
           in the fields of electricity and natural gas, with a focus on Carinthia. The subsidiary KELAG Wärme
           GmbH  operates  successfully  in  the  heat  business  throughout  Austria. The  grids  in  Carinthia
           (electricity  and  natural  gas)  are  operated  by  the  subsidiary  KNG-Kärnten  Netz  GmbH.  The
           hydroelectric and wind power activities and energy trading outside Austria are bundled at KI-
           KELAG International GmbH.

           The KELAG Group has decades of experience in the production, distribution and sale of energy.

           KELAG based at Arnulfplatz 2, A-9020 Klagenfurt am Wörthersee, and registered at the State and
           Commercial Court of Klagenfurt under the number 99133i, and its subsidiaries constitute the
           KELAG Group; the following consolidated financial statements for the financial year 2017 have an
           exempting effect and were prepared  in accordance with the provisions under Sec. 245a UGB
           (Austrian Commercial Code).

           Information on its ultimate parent, KEH-Kärntner Energieholding Beteiligungs GmbH (KEH), is
           presented in the section on related parties.

           The consolidated financial statements of KELAG were prepared in accordance with International
           Financial Reporting Standards (IFRSs) as adopted by the European Union and take the additional
           requirements in Sec. 245a UGB into account.
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