The results reflect the year’s performance of Aare-Tessin Ltd. for Electricity (Atel), Olten, the only operating subsidiary of Motor-Columbus Ltd. The Atel Group, specialized in electricity trading, marketing, generation, transmission and energy services, again achieved very successful results for fiscal 2005. The good result was due both to the improved operating performance and to changes in accounting standards (elimination of goodwill amortization), extraordinary gains on divestitures and favorable movements in financial investments. In the Energy Segment, very satisfactory performance was seen especially in trading and marketing. European trading business also achieved excellent results. Operating performance in the Energy Services Segment showed marked improvement in fiscal 2005.
Motor-Columbus Ltd. posted net income of CHF 43.7 million for the year, compared to CHF 28.1 million in 2004. The Board of Directors will recommend the Annual Meeting of Shareholders on April 28, 2006 to raise the dividend from CHF 50.- to CHF 80.- per share.
Overall for fiscal 2006, the Motor-Columbus Group again expects sales to grow in its energy and energy services businesses, with income level with last year.
The full Annual Report will be published at the beginning of April 2006 and be available on the company’s website (click on: Annual Report).
The Annual Meeting of Shareholders will be held on April 28, 2006 at the Stadtsaal (Trafo) in Baden.