First Half Results of the Motor-Columbus Group

The Motor-Columbus Group, in particular Atel and its group companies as the principal subsidiary operations, posted a solid result for the first half of 2005. This was mainly fueled by a favorable trend in energy business and stable performance in the Energy Services Segment. Sales and operating results improved despite an outage lasting several months at the Leibstadt nuclear power plant (KKL), which also hit Atel considerably. Overall results were significantly boosted by additional special factors.

During the first half of 2005, the Motor-Columbus Group’s consolidated sales increased by 12% over the comparative prior year period to CHF 3.8 billion. Consolidated EBIT rose 29% to CHF 273 million. EBIT includes proceeds from property sales and effects of changes in IFRS accounting standards. Excluding these effects, EBIT grew 6% year over year. Consolidated income was CHF 213 million, up 25%.

Barring extraordinary events, the Motor-Columbus Group expects full year sales and operating results for 2005 to be at least level with last year (2004: sales of CHF 6,955 million, consolidated income of CHF 326 million).

Motor-Columbus Ltd