Bewag Achieved Turnaround

EnergyEnergy Source ♦ Published: October 3, 2011; 14:07 ♦ (Vindobona)

The regional energy provider Bewag turns back to the profit zone. In 2011, CEO Michael Gerbavsits expects a double-digit million figure in profits.

Bewag Achieved Turnaround / Picture: ©

The Burgenland-based energy company leaves the loss zone. In the past three years, Bewag suffered from losses. In 2010, sales amounted to 286.1m, losses reached € 18m. For 2011, sales are expected to account for € 251.5m. Profits will be between € 10m and € 15m.

Gerbavsits also mentions that a write-off of € 4m could be possible. A wind power project in Poland was not…