Verbund Subsidiary Sorgenia Managed Turnaround

EnergyEnergy Source ♦ Published: April 20, 2011; 14:09 ♦ (Vindobona)

The Austrian-Italian joint venture Sorgenia reported a profit of € 6.8m for the first quarter 2011.

Verbund Subsidiary Sorgenia Managed Turnaround / Picture: © Vindobona.org

In the same period of the previous year, the loss still amounted to € 12.2m. However, sales fell by 8.6% to € 549.7m. The Austrian Verbund Group, involved in a 45% stake in Sorgenia, plans to expand the activities of the subsidiary.

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