After a slow start to the year, Atel, an energy services provider active right across Europe, achieved a satisfactory overall result for the first three months of 2005. Compared to the low yield for the corresponding period of the previous year, the turnover of the energy services group grew by 12 percent to CHF 1,950 million in the first quarter of 2005. Energy sales rose by 12 percent to 24.2 TWh. The operating profit (EBIT) increased by 34 percent to CHF 135 million. From January to March 2005, the Atel group earned a group profit of CHF 103 million, a 45 percent increase year-on-year. These results include substantial extraordinary income from real estate sales, financial income from securities sales and positive currency effects.
Various amendments to the IFRS accounting principles took effect on 1 January 2005. These effects have been incorporated into the previous year's figures for comparison.
Outlook for 2005 Despite a slow start to 2005, Atel is expecting a slight increase overall in turnover and operating results on a par with the previous year. The stoppage of the Leibstadt nuclear power plant due to last several months will also have a negative impact on results, the extent of which cannot yet be finally estimated. The company nevertheless expects to turn in a satisfactory performance for 2005.
Aare-Tessin Ltd. for Electricity Corporate Communications