Germany-based energy company EWE has reported a drop in its sales and profit during the first half of 2007. Group sales for the first half of the year amounted to E4.3 billion, down E0.8 billion compared with the previous year's figures.
The extremely mild temperatures throughout the winter and spring seasons resulted in a squeeze on sales and profit during the first half of 2007.
This led to a significant drop in sales in the gas business, amounting to over 20% compared to the first half of 2006. Another factor to take into account is that the winter of 2006 was significantly colder, stated Dr Werner Brinker, CEO of EWE.
However, the company witnessed positive development in its electricity business. Sales in this segment increased in both volume and price. The electricity business also accounted for a much greater percentage of sales than in the previous year.