EStAG Reports Moderate Rise in Earnings

Businessn.a. ♦ Published: March 30, 2012; 10:12 ♦ (Vindobona)

The Styrian energy supplier Energie Steiermark AG could raise revenues by 9.0% to 1.37bn. Operating profits were down, though.

EStAG Reports Moderate Rise in Earnings / Picture: © EStAG

In 2011, Energie Steiermark AG (EStAG) recorded a rise in revenues from 1.25bn to 1.37bn. EBIT rose from € 69.8m to € 83.3m. However, operating profits declined by 3.9% from € 96.7m to € 92.6m, as the financial result worsened. Earnings from participations declined from € 26.9m to € 9.2m.

The management board explained that this is due to a write-off in Verbund…