Page 7 - KELAG Annual Report 2019

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