Page 128 - KELAG Annual Report 2019
P. 128

Revenue rose from EUR 1,284.6m to EUR 1,300.1m, mainly as a result of a higher price level.

                                      In the reporting period 2019, an amount of  EUR 6.5m (prior year:  EUR 1.4m) was recorded as
                                      revenue from measurements of and earnings from derivative financial instruments relating to
                                      energy for proprietary trading. In order to enhance the presentation of business activities, the
                                      contributions  to  earnings  from  sale  and  purchase  contracts  entered  into  during  proprietary
                                      trading are recognised and measured net in revenue. Without this net presentation, revenue from
                                      electricity (and electricity purchase expenses) in the reporting period 2019 would have been
                                      roughly EUR 1,058.2m (prior year: EUR 885.2m) higher and revenue from natural gas (and natural
                                      gas expenses) would have been EUR 132.1m (prior year: EUR 131.8m higher.

                                      Furthermore,  EUR 7.6m  was  recorded  as  revenue  from  measurements  of  derivative  contracts
                                      relating to energy whose primary purpose is a physical delivery of energy.
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