Page 127 - Annual Report KELAG Group 2018
P. 127

The company improved its financial position, financial performance and cash flows despite a complex and uncertain
                    market environment. The Group generated profit of EUR 92.3m in the financial year 2018 (2017: EUR 80.5m). The main
                    reasons for the increase in profit include higher wholesale prices and a rise in water levels of 15.1 percentage points in
                    comparison to the prior year.












                     Revenue                                         1,284.6               1,172.4
                       Electricity                                   1,079.0     84.0%       946.9      80.8%
                       Heat                                           143.3      11.2%       150.4      12.8%
                       Natural gas                                     43.2       3.4%        56.6      4.8%
                       Other                                           19.0       1.5%        18.6      1.6%
                     Operating result                                 110.8                  101.2
                     Financial and investment results as well as profit/loss from
                     associates                                         7.6                   2.3
                     Consolidated net profit                           92.3                  80.5
                     Earnings per share in EUR                         11.5                  10.1


                    Revenue increased from EUR 1,172.4m to EUR 1,284.6m. This was primarily attributable to a rise in water levels and a higher
                    price level as well as the splitting of the joint bidding zone. For further explanations on volume changes, please refer to
                    the comments on electricity production  and sales volumes in the individual sections on  the Electricity/Gas business
                    division (including the electricity and natural gas grid) and the Heat business division.

                    At EUR 110.8m, the operating result is above the level of the prior year (2017: EUR 101.2m). The cost of materials and
                    supplies and of other purchased services of EUR 911.0m corresponds to the development of revenue and is thus above
                    the prior-year level.
   122   123   124   125   126   127   128   129   130   131   132