Page 152 - KELAG Annual Report 2019
P. 152

Issued capital was unchanged at EUR 58.2m and is divided into 8,000,000 registered no-par value
                                      shares. There were no options to issue new shares.

                                      The accumulated profits or losses reported in the statement of changes in equity included the
                                      statutory reserve, which was unchanged on the prior year at EUR 5.8m and subject to restrictions
                                      on distribution and, with 10% of the issued capital, was fully endowed in accordance with stock
                                      corporation law.


                                      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 50.0m to the shareholders. This is equivalent to
                                      a proposed dividend per share of EUR 6.25.

                                      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  increased  on  the  prior-year  level  from  around  EUR 422.1m  to
                                      EUR 437.0m. 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. A bond of EUR 150m was also issued in the financial
                                      year 2014 which 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.

                                      Below is a schedule of non-current and financial liabilities:
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