Stadtwerke Gießen AG (SWG) can draw a positive balance sheet for the 2004 financial year, with a net profit of EUR 1.8 million. "We are very satisfied with this result, as it means that the municipal utilities have achieved the target set for 2004 with pinpoint accuracy," says Dr Volker Kölb, Chairman of the SWG Supervisory Board. The net profit for the SWG Group, which in addition to the parent company Stadtwerke Gießen AG includes the 51% subsidiary Heizkraftwerk Gießen GmbH and the 100% subsidiary MIT.BUS GmbH, even amounts to Euro 2.5 million. 1.0 million euros of the profit of Stadtwerke Gießen AG will be distributed to the City of Gießen as the sole shareholder of SWG, Euro 750 thousand will be allocated to revenue reserves and the remainder will be carried forward to new account. The subsidiaries of Stadtwerke Gießen AG to be consolidated were also quite successful in 2004. The wholly-owned subsidiary MIT.BUS GmbH generated a profit (after tax) of T Euro 492 and Heizkraftwerk Gießen GmbH (HKW) even achieved a profit of around Euro 1 million (after tax).1 According to SWG CEO Manfred Siekmann, it is noteworthy that the University of Giessen alone saved Euro 1.3 million in energy costs in 2004 compared with 2003. In the individual divisions of Stadtwerke Gießen AG, the following developments were recorded in 2004:ElectricityWith 840 GWh, SWG was able to supply 8 % more electricity to its customers than in 2003. At the same time, sales revenues also rose by 8 %. The operating result in the electricity supply segment totalled Euro 6.1 million in 2004 and was thus Euro 480 thousand higher than in the previous year.GasIn 2004, SWG sold 1,851 GWh of gas to its customers, which is 0.4 % more than in 2003. Sales revenues rose by 1.3 %. At Euro 5.8 million, the operating result in the gas supply segment was Euro 1.5 million higher than in the previous year. Since 2004, SWG has been able to offer its customers an innovative application for natural gas, namely the use of natural gas as a fuel. In March 2004, the natural gas filling station was opened at the Aral petrol station at Marburger Strasse 229. In the coming year, SWG also intends to start gradually converting the bus fleet to natural gas in addition to the company's own cars. In this context, Dr Kölb explained that the university city of Giessen will also gradually switch to natural gas. A waste transport vehicle with a natural gas drive has already been ordered. Dr Kölb expects this to result in cleaner air in Giessen as well as fuel cost savings.District heatingIn 2004, SWG sold 0.3 % less heat than in 2003, with heat sales totalling 414,834 MWh. Sales revenues also fell, namely by 5 % to Euro 19.1 million. The operating result for heat supply totalled 262 T Euro and was thus 809 T Euro below the result for 2003.WaterThe trend towards falling consumption of water continued. As a result, SWG supplied 4.7 million m³ of water, 2.6 % less than in 2003. Sales also fell accordingly by 4 % to Euro 9.3 million. The operating result in the water supply sector was kEUR 91, kEUR 482 lower than in the previous year.local transportSales revenue from local transport fell by kEUR 159 to kEUR 6.5. As in previous years, the transport companies closed with a negative result. After -4.9 million euros in 2003, the result for 2004 was -6.0 million euros. In 2004, the local transport subsidiary of SWG founded in 2003 was renamed MIT.BUS GmbH. At the same time, an independent brand identity was developed for the company with its own logo and the slogan "Einfach einsteigen" ("Just get on board"). Passenger comfort is also a top priority at MIT.BUS GmbH. Four new buses were purchased in 2004 and have been in service on the Giessen routes since September. They are equipped with so-called low-floor technology. The low vehicle floor makes it easier to get on and off. The four new buses also have air conditioning for the first time. This makes travelling by bus a pleasure even on hot summer days.swimming poolsThe rather modest bathing weather compared to the summer of the century in 2003 made itself felt at the swimming pools. As a result, 446,733 visitors came to SWG's five pools, 15% fewer than in 2003. This decline also had an impact on revenues. They fell by kEUR 51 to kEUR 864. The bottom line for the pools was also a negative operating result of - 2.9 million euros. Since 2004, many new fitness and wellness offers have been available to SWG bathers. For example, the Aqua-Gym, an underwater fitness studio that enables highly efficient training that is easy on the joints. Or the newly designed solarium area in the Ringallee bathing centre, the new cosmetics and pedicure studio, or the coloured light sanarium, a sauna with gently changing coloured lighting.EmployeesAs at 31.12.2004, Stadtwerke Gießen AG employed 701 people. The number of employees thus rose by 2. At the end of 2004, the SWG Group employed a total of 731 people, eight more than in 2003. 33 trainees learnt a profession at SWG in 2004. In addition, ten young people were trained at SWG in certain areas on the basis of co-operation agreements with other training companies. Organisationally fit for the futureFor SWG, 2004 was all about preparing for the topic of unbundling. The aim was to develop an unbundling-compliant organisational structure for SWG. Background information: The EU Acceleration Directive from 2003 obliges German energy supply companies to unbundle their previously connected areas of grid operation and electricity generation/distribution. "When developing an unbundling-compliant organisation for our company, we attached particular importance to keeping the possibility of further growth open for the future. Be it through market share gains or through investments. This is the only way we can achieve our goal of continuing to exist on the market as an independent company," says Siekmann. With the concept developed, he believes that SWG is ideally equipped to meet the requirements of the new Energy Industry Act.Outlook for 2005According to the 2005 business plan, Stadtwerke Gießen AG expects a profit after tax of around Euro 1.0 million for 2005. Based on the figures for the first half of the year, this corporate result is also achievable.the issue of unbundling will continue to occupy SWG in 2005. As required by the new Energy Industry Act (EnWG), the company will implement the structure it has developed and establish a Netz GmbH for the competing business areas of electricity and gas on 1 January 2006. Further requirements, such as the change in invoicing, must also be implemented by this date. As a result, every customer will be able to see next year what proportion of the cost of grid utilisation is included in their tariff and they will be able to see the composition of the electricity mix of the electricity they purchase, i.e. the energy sources from which it was produced. Another goal for 2005 is to expand the water business segment by acquiring new customers in the water supply and water management sectors. SWG is currently conducting promising negotiations in this area. With the project of a thermal residue energy utilisation plant (TREA), SWG is aiming to cooperate with the regional waste management industry in 2005. Reinhard Paul, Technical Director, comments: "Thanks to our existing heating network in Giessen, we believe that the conditions are in place to utilise the heat generated during the incineration of dry stabilised waste in a sensible and economical way. "An important goal for 2005 has already been achieved. In line with the corporate strategy "Grow, don't give way", SWG purchased the electricity supply network of the Hammermühle power station in Selters, Rhineland-Palatinate, in February 2005. The transfer of ownership to SWG was completed on 1 July 2005.
26.07.2005