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Losses at Verbund´s French Subsidiary Poweo
With consolidated revenue totalling € 503.4m, down 27.7%, the Group ended the year with a net loss of € 63.4m, due mainly to losses at the generation business and various write-downs
Losses at Verbund´s French Subsidiary Poweo / Picture: © Vindobona.org
Generally speaking, Poweo´s revenue trends over 2011 as a whole were the same as in the first half of the year. Annual revenue came in at € 503.4m, down 27.7% on 2010. This includes the decline in generation revenue, which fell from € 185.0m to € 124.3m due to unfavourable conditions for the CCGT plant at Pont-sur-Sambre (insufficient 'clean spark spreads', and to the market…
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