Karlsruhe. In 2001, EnBW achieved significant growth in terms of turnover and earnings: The turnover (without electricity tax) of the EnBW Group increased by 34.9 percent to 7.861 thousand million Euros. The annual surplus of the third largest German energy company increased by 51.5 percent to 271.9 million Euros. The result of normal business activity improved by 22.8 percent to 306.5 million Euros. This is all revealed in the EnBW annual report for 2001 which was published on Tuesday in Karlsruhe.
"Even in the fourth year of the liberalised energy market, EnBW has continued to expand successfully", said Dr. Reinhard Volk, the member of the board of EnBW responsible for finance, at the EnBW balance sheet press conference 2001. Even without taking into account the effects of the consolidation of the Neckarwerke Stuttgart AG (NWS) and Salamander AG, taking up a whole year, EnBW’s turnover increased in the previous year, pointed out Dr. Volk. In 2001, EnBW also managed to gain clients and market share in Germany and accessible European energy markets both directly and in partnership with other companies. The continued efforts to optimise company structures and processes also bore fruit.
In the electricity sector, EnBW’s core business, the third largest German energy company also expanded in all customer areas in 2001. Overall, electricity turnover (after electricity tax) increased by 1,072 million Euros or 25.6 percent to 5,257 million Euros. Gas turnover has more than doubled from 316 million Euros to 689 million Euros, especially thanks to the full consolidation of NWS. Overall, the energy turnover of the EnBW Group increased by 1,505 million Euros or 32.8 percent from 4,593 million Euros to 6,098 million Euros.
In terms of volume, electricity sales of the EnBW Group in 2001 increased by 19.4 TWh (thousand million kilowatt hours) - or 24.9 percent – from 77.9 TWh to 97.3 TWh. Including the electricity sales figures of companies in which EnBW has a stake without being at the same time an electricity pre-supplier, the electricity sales of the EnBW group amounted to 108.4 TWh in 2001.
Turnover in the waste disposal sector in 2001 remained exactly at the level of the previous year with 259 million Euros. EnBW turnover in the Industry and Services sector with the Salamander Group as a major player, increased by 527 million Euros or 54.0 percent to 1,504 million Euros.
Materials expenditure increased in 2001 by 41.9 percent to 4,896.5 million Euros. Staffing expenditure increased by 20.9 percent to 1,615.4 million Euros. The average number of employees in the EnBW Group was 37,053 in 2001 compared to 27,327 in 2000. The increases in these three areas are mainly due to the expansion of the group and consolidation effects.
Investments by the EnBW Group increased in 2001 by 1,517 million Euros or 78.7 percent to 3,445 million Euros. These figures above all are a reflection of EnBW’s active strategy of taking stakes in companies in Germany and Europe. The stocks and shares belonging to fixed assets amounted to 4,243.8 million Euros on the 31st December 2001 – 134.3 million Euros more or 3.3 percent more than at the beginning of 2001.
According to financial managing director Dr. Volk the confidence of the investors and reputable rating agencies supports EnBW’s growth strategy: The first benchmark loan tranches in February within the framework of the "Debt Issuance Program (DIP)" were "very positively accepted" by the market. Prior to this, the rating agencies Standard & Poor's and Moody's had explicitly confirmed their favourable assessment of EnBW’s financial standing.
The dividend for the financial year 2001 is increased from 0.46 to 0.66 Euro per share by the appropriate decision.