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EnBW Energie Baden-Württemberg AG

Annual General Meeting 2001 of EnBW Energie Baden-Württemberg AG
EnBW seeks continued growth through partnership concepts in Germany and Europe

Karlsruhe (ots)

   EnBW also striving for more competition in the interests of
customers
EnBW Energie Baden-Württemberg AG aims to continue on the path of
growth through the year 2001 - primarily through strong regional,
national and Europe-wide partnership concepts. This was according to
Gerhard Goll, Chairman of the Board of EnBW, at the company's Annual
General Meeting 2001, held in Karlsruhe on Wednesday. "Our concern is
not to sell as much electricity as possible, but to be the most
popular electricity provider with customers, and hence the most
successful".
"The market in which EnBW operates is characterized by both
obstructive and dynamic forces," is how Goll described the market
situation, reporting that the obstructive forces had placed a strain
on annual profits for the year 2000 and were expected also to put
added pressure on profits for the financial year 2001. Goll put the
figure for additional expenditure arising through the unjustified
refusal to grant supply-access licences and the creation of obstacles
to such access as being in the region of several 100 million marks.
Goll asserted that the customer too was suffering from the
continuing disputes between electricity suppliers and network
operators. "Customers are the victims of the restrictions on access,"
stressed the EnBW Chairman. All network operators who impose such
restrictions should consider that they too have customers and want to
keep them. The efforts by the German Federal Cartel Office to combat
such market restrictions are welcomed and supported by EnBW.
EnBW Energie Baden-Württemberg AG
"But there also exists a considerable dynamic since the market is
reorganizing itself," continued Goll. Thus, in 2000, EnBW Energie
Baden-Württemberg AG's sales rose by 45.8% to DM 11.4 billion.
Electricity consumption rose by 42.2% to a total of 77.9 billion
kilowatt hours (kWh). Net income for the year rose by 29.8% to DM
351, while the result from ordinary activities fell by 43.7% to DM
488 million.
This development has continued into 2001. In both 2000 and 2001,
EnBW has been able to considerably increase its customer base, and
this success is attributed essentially to compelling partnership
concepts, as the recent contract with Stadtwerke Düsseldorf AG, for
instance, has shown. Here, using its innovative partnership concept,
EnBW had managed to assert itself against far higher purchase-price
offers from two other bidders.
EnBW reports also to have pursued a partnership concept over its
commitment to the Spanish mixed group Hidrocantabrico, where it was
not EnBW, but its partner enterprise Ferroatlantica, which acquired a
majority shareholding in Hidrocantabrico. Together with French
partner EDF, EnBW wishes to remain active in European market
development. To date, EnBW is the only German energy company which is
able to supply its customers with electricity on a Europe-wide basis.
In addition, cooperation agreements with Neckarwerke Stuttgart AG and
ZEAG AG (Zementwerk und Elektrizitätswerk Heilbronn AG), as well as
the company's holding in Salamander AG, have also contributed to
growth.
This trend is continuing. Over the current financial year, EnBW is
predicting a growth in sales to DM 15 billion, and is further
anticipating significantly higher net income for the year, as well as
a higher result from ordinary activities.
Goll is convinced that the 8-times oversubscription to the
contingent convertible bond issued by EnBW in May, as well as the A+
rating given to EnBW by Standard and Poor's, both represent proof of
the fact that the EnBW strategy is also accepted and supported by the
capital market.
ots Original Text Service: EnBW Energie Baden-Württemberg AG
Internet: http://www.presseportal.de
All enquiries to:
EnBW Energie Baden-Württemberg AG 
Unternehmenskommnikation (Corporate Communication)
Durlacher Allee 93
76131 Karlsruhe
Tel.: +49 (07 21) 63-1 43 20
Fax: +49 (07 21) 63-1 26 72 
unternehmenskommunikation@enbw.com
www.enbw.com

Original content of: EnBW Energie Baden-Württemberg AG, transmitted by news aktuell