Group Financial Statements 2006
2006 was a highly satisfactory year. Profit benefited from high oil, gas and electricity prices. The acquired electricity companies Elsam, Energi E2, Nesa and the electricity activities from Copenha-gen Energy and the Municipality of Frederiksberg featured in part in the first half and in full in the second half.
HIGHLIGHTS FOR THE YEAR
Full-year revenue was DKK 35,661 million compared with DKK 18,493 million in 2005 Full-year EBITDA was DKK 8,793 million compared with DKK 6,314 million. Full-year EBIT was DKK 5,534 million compared with DKK 4,099 million. The results were adversely affected by non-recurring expenses of DKK 2,008 million Profit after tax was DKK 4,917 million compared with DKK 2,687 million, in line with the expectations announced after the third quarter. Profit after tax was eroded by non-recurring items of DKK 385 million net, including a DKK 1,000 million gain on sale of the gas storage facility near Ll. Torup and the adverse impact of termination of intragroup agreements, which depressed profit by DKK 1,573 million. The acquired companies contributed profit of DKK 2,042 million Operating cash flow amounted to DKK 8,169 million compared with DKK 5,866 million. Investing activities absorbed DKK 7,809 million compared with DKK 10,128 million. The main investments were the acquisitions within the electricity sector EBITDA for 2007 is expected to be slightly lower than in 2006, while profit after tax is expected to be significantly lower
The Group Financial Statements will be presented for journalists on a press conference tomorrow Tuesday 13 March 10.00 - 11.00.
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