Page 7 - KELAG Annual Report 2019
P. 7

Poor’s despite the uncertainty in the energy market and the
                                                         growing  momentum  in  the  energy  policy  environment.
                                                         KELAG has thus held a top ranking position in comparisons
                                                         of  both  Austrian  and  European  energy  companies  since
                                                         2009. KELAG also earned the silver sustainability rating as a
                                                         result  of  an  external  CSR  assessment  by  the  business
                                                         sustainability rating agency EcoVadis. On this basis, we as a
                                                         green company have the best prerequisites to build on the
                                                         progress  made  in  pursuing  our  strategy  of  value-based
                                                         growth and innovation based on renewable energies and
                                                         with a focus on energy efficiency in a targeted manner.

                                                         Freitag: We implemented an extensive capital expenditure
                                                         programme  in  2019  and  invested  around  EUR 142m  in
                                                         property, plant and equipment and intangible assets. The
                                                         work  to  increase  efficiency  at  the  Schütt  run-of-the-river
                                                         power plant was successfully completed in summer 2019.
                                                         The  power  plant  now  has  a  capacity  of  15.5  MW  and
                                                         generates  around  62  million  kWh  of  electricity  per  year,
                                                         which is equivalent to the requirements of around 17,000
                                                         households. At the same time, extensive maintenance work
                                                         and refurbishment was carried out this year at the Feldsee
                                                         reservoir and at the Wurten dam in the Fragant power plant
           Wiersma: In the financial year 2019, the Group generated
                                                         group  as  well  as  at  the  Zlaner  reservoir.  Wind  power
           earnings of around EUR 111m. The positive development of
                                                         production  capacity  increased  from  around  21  MW  to
           earnings was due to higher wholesale prices in comparison
                                                         around 27 MW through investments to expand the Nikitsch
           to  the  prior  year  coupled  with  our  successful  growth
                                                         wind farm. As a result of the acquisition of WRS Naturwärme
           initiatives. Our strict cost management also contributed to
                                                         Holding GmbH with six biomass heating plants and district
           the improvement in earnings. In 2019 KELAG once again
                                                         heating  grids,  KELAG  Energie  &  Wärme  GmbH  further
           obtained the excellent credit rating of “A/stable” from the
                                                         expanded  its  market  position  and  increased  its  share  of
           internationally renowned credit rating agency Standard &
                                                         waste heat and  biomass from 62% to 65%. KNG-Kärnten
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