Another Successful Year and Higher Dividend
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 extremely successful results for fiscal 2006. The strong growth was driven by the increase in energy sales, persistently high prices in the energy markets, stable generation costs and astute use of market opportunities. In the Energy Services Segment, both the GAH and AIT Groups also report higher sales and better results, fueled by the good economic conditions. In addition to its successful operating performance, the Atel Group recorded a number of special gains, mainly comprising dividend income from affiliates and the reversal of impairment losses no longer required for the Swiss generation portfolio.
Motor-Columbus Ltd. posted net income of CHF 74,9 million, up 71,4% from the prior-year CHF 43.7 million. The Board of Directors will recommend the Annual Meeting of Shareholders on May 24, 2007 to raise the dividend from CHF 80.- to CHF 120.- per share
For the full fiscal year 2007, the Motor-Columbus Group expects continued sales growth in its energy and energy services businesses, with operating results coming in below the high levels for 2006.
The full Annual Report will be published at the beginning of May 2007 and be available on the company’s website.
The Annual Meeting of Shareholders will be held at 11:00 a.m. on May 24, 2007 at the Stadtsaal (Trafo) in Baden.
|Consolidated net income||CHFm||328||401||873|
|Net income attributable to Motor-Columbus shareholders||CHFm||175||228||504|
|Net income per share attribuatable to Motor-Columbus sharholders||CHF||346||451||1,049|
|Dividend per share||CHF||50||80||120*|
* Proposed by the Board of Directors