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DGAP-Ad hoc: BEWAG AG english = - 500 Beiträge pro Seite



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Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------

The Bewag AG Management Board today approved the Annual Financial Statements for business year 2000/01 (1 July 2000 to 30 June 2001) in accordance with Section 264 HGB (German Commercial Code).

The result before taxes on income rose from EUR 220m to EUR 247m, i.e. by 12.3 percent against the previous year. Net income for the year was boosted to EUR 148m after it had hit EUR 128m last year. This is a 15.2 percent increase against the previous year. This result will permit to perform EUR 18m of tax- free allocations to reserves and EUR 60m special depreciation, and to form further reserves of EUR 16m. The Management Board will propose to the Bewag Supervisory Board in its meeting on 26 September 2001 to appropriate the EUR 130m net income available for distribution to pay a slightly increased dividend of EUR 0.58 per no-par share on the EUR 582 million capital stock fully ranking for dividend.

Sales revenues in the electricity business rose 12.4 percent from EUR 1,345m to EUR 1,511m (both times ex electricity tax), which is attributable to Bewag s expanded trading activities and higher volumes of direct supplies to customers outside Berlin. Sales revenues from the networks business with third parties amounted to EUR 49m after EUR 2m in the year ago. Sales revenues in the heating business registered a 5.0 percent increase from EUR 394m to EUR 414m. An additional positive impact came from income under the legislation for protection of co-generation based power production.

Cost of materials marked a distinct EUR 408m increase to EUR 901m, in particular because of higher levels of electricity purchasing, higher fuel prices and the expenses resulting from the legislation on priority of renewable energies. Personnel expenses were trimmed by a further EUR 93m to EUR 369m. At 30 June 2001, Bewag employed a workforce of 5,299, that is 1,086 less than in the previous year.

Berlin, 4 September 2001

end of ad-hoc-announcement (c)DGAP 05.09.2001 -------------------------------------------------------------------------------- WKN: 530300; Index: M-DAX Listed: Amtlicher Handel in Berlin, Düsseldorf, Frankfurt und Hamburg; Geregelter Markt in Bremen und Stuttgart; Freiverkehr in Hannover und München; Amsterdam

050723 Sep 01



Autor: DGAP import (),07:25 05.09.2001



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