Page 80 - Annual Report KELAG Group 2018
P. 80

The accumulated profits or losses include the Group’s retained earnings.

           The dividend is determined on the basis of the net profit for the year shown in the separate
           financial statements of KELAG-Kärntner Elektrizitäts-Aktiengesellschaft as parent company, which
           are prepared in accordance with company law. Accordingly, it will be proposed to the Annual
           General Meeting to distribute approximately EUR 40m to the shareholders. This is equivalent to a
           proposed dividend per share of EUR 5.00.

           Equity attributable to non-controlling interests shows the shareholdings of third parties in group
           entities.  The  affected  companies  can  be  found  in  the  table  on  scope  of  consolidation  and
           consolidation methods.

           Non-current  financial liabilities decreased  on  the  prior-year  level  from  around  EUR 424.0m  to
           around EUR 422.1m. This line item includes a bond of EUR 150m issued in the financial year 2012
           which bears interest of 3.25% for a term of 10 years. The issue price was at 99.916%. A bond of
           EUR 150m was also issued in the financial year 2014 which had an issue price of 99.900% and
           bears interest of 3.00% for a period of 12 years. In the financial year 2015, the company raised
           another loan of EUR 60.0m with the European Investment Bank and increased this by EUR 30.0m
           in  the  financial  year  2016.  The  European  Investment  Bank  offers  more  favourable  financing
           conditions than traditional bank financing for the development of renewable energies.

           Below is a schedule of non-current and financial liabilities (current financial liabilities are also
           discussed in the notes to current liabilities):
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