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Kelag plans major investments in mills and networks this year | Power supplier | sectors



The Carinthian power supplier, Kelag, increased sales last year by just under ten and profits by almost 15%. This was announced by the company. A key factor in the good performance was the greater flow of water, with hydroelectric power generation 20% higher than in 2017.

The group's turnover amounted to EUR 1.28 billion, the volume of investments, including maintenance, amounted to EUR 146.6 million, the end result being that the 1,641 employees generated an annual profit of EUR 92 million . For executives at Kelag, Manfred Freitag and Armin Wiersma, the numbers are "the confirmation of our long-term growth and innovation strategy based on renewable energy."

The increase in sales was mainly due to the electric power segment, where the company won 9,000 new private customers. The members of the Board of Directors are also satisfied with the new Telecommunication / Broadband Marketing segment. Two years ago, Kelag offers enterprise customers fiber optic network access.

For the current year, Kelag is planning investments worth about 160 million euros. Other focal points include wind and wind energy projects as well as biomass projects in the heating sector, as well as the expansion and modernization of the network infrastructure. In relation to the annual result, the Board of Directors expects continuity. (Apa / red)

About half of Kelag is owned by the German energy company Innogy.

Currently:

Sale of Innogy to Eon: a troublesome business to the industry >>

Shareholder of Kelag, Innogy, with a write-down of one billion dollars in England >>


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