Page 31 - KELAG Annual Report 2019
P. 31

The company improved its financial position, financial performance and cash flows despite a complex and uncertain
           market environment. In the financial year 2019, the Group generated net profit of EUR 111.1m (2018: EUR 92.3m). The main
           reasons for the increase in profit were higher wholesale prices in comparison to the prior year and successful growth.











            Revenue                                         1,300.1                1,284.6
              Electricity                                   1,073.5     82.6%      1,079.0     84.0%
              Heat                                            152.4     11.7%       143.3      11.2%
              Natural gas                                     54.1       4.2%        43.2       3.4%
              Other                                           20.1       1.5%        19.0       1.5%
            Operating result                                 154.6                  133.0
            Financial result                                  -16.2                 -14.7
            Consolidated net profit                          111.1                   92.3
            Earnings per share in EUR                         13.9                   11.5


           Revenue rose from EUR 1,284.6m to EUR 1,300.1m, mainly as a result of a higher price level. For explanations on volume
           changes, please refer to the comments on electricity production and sales volumes.

           At EUR 154.6m, the operating result is significantly above the level of the prior year (2018: EUR 133.0m). Cost of materials
           and of purchased services of EUR 902.8m is slightly below the prior-year level.

           The financial result of around EUR -16.2m deteriorated in comparison to the prior year (2018: EUR -14.7m). This decline is
           mainly attributable to increased finance costs.
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