Germany-based Energie Baden-Wuerttemberg has reported revenues of E10.52 billion for the first nine months of 2007, an increase of 14.1% compared to the prior-year period.
EBITDA rose by 6.4% in the period to E1.84 billion, while EBIT improved by 11% to reach E1.28 billion. Group net profit rose year on year by E526 million, or 87.8%, to E1.13 billion. Adjusted EBITDA for the first nine months of 2007 stood at E1.71 billion, up 3.1% compared to the same period of 2006, while adjusted EBIT stood at E1.15 billion, up 0.1%.
In the electricity segment, in which Energie Baden-Wuerttemberg (EnBW) generated around 80% of its revenues in the first nine months of 2007, EBITDA rose by 2.4% to E1.59 billion. Adjusted EBITDA rose 3.5% to E1.47 billion.
In the gas segment, on the other hand, EBITDA dropped by 28.1% to E183 million, while adjusted EBITDA dropped to E177 million. This is mainly due to the temperature-related drop in unit sales of gas and the reduction in network user charges by the Federal Network Agency, the firm said.
Hans-Peter Villis, CEO of EnBW, said: For the fourth quarter of 2007, EnBW aims to increase profit compared to the prior year in the electricity and energy, and environmental services segments. In the gas segment, on the other hand, we forecast a drop compared to the prior-year quarterly result due to the reduced network user charges and tougher competition. We are, however, confident that we will be able to return a good group result for fiscal 2007.