Despite operating in a politically turbulent environment, Eu-ropean Energy Exchange AG (EEX) has once again demonstrated its strengths, achie-ving record results for the financial year 2006, together with a number of strategic and operative milestones. Due to a significant growth in the number of trading participants and an increase in trading volume of more than 100 per cent, EEX has been able to improve both its sales revenue and its annual profit by more than 60 per cent.
At EUR 37.80m EEX sales revenue in the year ended 31 December 2006 was 61 per cent higher than in the previous year (EUR 23.47m). During the same period, earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 51.5 per cent to EUR 11.45m, compared with EUR 7.56 m in the preceding year. Net profit after tax ro-se by 65 per cent to EUR 5.56m (EUR 3.37m). A sum of EUR 1m was appropriated to the retained earnings of ECC AG for the purpose of establishing the clearing fund.
“This result has exceeded our expectations by far and is a clear demonstration of con-fidence in EEX as a transparent, liquid and safe market“, comments Dr. Hans-Bernd Menzel, chairman of the EEX management board. He adds: “In increasingly converging regional energy markets, they confirm our position as Europe’s most important energy exchange and also as the leading clearing platform for energy products“.
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