Swiss BKW delivers CHF-39.3m revenue from wind power in H1 2012

(SeeNews) – Sep 13, 2012 - Swiss power utility BKW AG (SWF:BKW) generated revenue of CHF 39.3 million (USD 41.9m/EUR 32.5m) from wind energy in the first half of 2012 and expects CHF 67.2 million for the full year.

BKW said today renewable energy production rose significantly in the first half-year. Growth is Switzerland reached 13 GWh thanks to higher production of Mont-Crosin wind farm. The generation in neighbouring countries rose by 142 GWh to 260 GWh due to expanded capacity and good wind conditions.

Hydroelectricity volume went up by 258 GWh to 1,793 GWh as a result of higher precipitation.

The company booked a total revenue of CHF 1.368 billion in the first half of 2012, a rise of 1.6% year-on-year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) went up by 15.6% to CHF 255.2 million and net profit jumped by 24.1% to CHF 112.3 million. The improvement is based on power plants acquired in the second half of 2011 and revised estimate for nuclear waste disposal. The growth also reflects a better financial result due to more favourable equity market trend.

BKW said its net profit and EBITDA for the full year may “deviate significantly” from the adjusted figures for 2011. The company's cost reduction measures are seen to have a positive effect, while the strong Swiss franc and regulatory requirements will weigh down on the figures.

(CHF 1.0 = USD 1.066/EUR 0.826)

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