EVN AG / Key word(s): Profit Warning 02.07.2014 13:29 Dissemination of an Ad hoc announcement, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- As per 30 June 2014, the regulatory authorities in Bulgaria and Macedonia announced the following changes in electricity tariffs: In Bulgaria, the tariff for the period 1 July 2014 to 30 June 2015 foresees a significant increase for EVN Group's purchase price for electricity. In parallel end customer prices were only marginally increased by not fully reflecting the effective cost base of the respective EVN companies as well as by introducing a new tariff element the economic effect of which is to retransfer revenues incurred by EVN Group during previous regulatory periods. In Macedonia, effective from 1 July 2014, the tariffs for network usage will only marginally increase and end customer prices will increase below expected levels. In addition cost elements associated with the next step in the market liberalization starting with 1 January 2015 were not reflected in the decision on 30 June 2014. As a result of such tariff decisions, in combination with the current economic situation and outlook, mid term expectations for EVN Group's operations in Bulgaria and Macedonia had to be reevaluated resulting in impairments of goodwill and customer base in full (EUR 148.9m and EUR 43.0m), a partial impairment of other assets (EUR 15.0m) as well as a negative net effect resulting from an initial recognition of a regulatory liability in Bulgaria (EUR 54.0m). The aggregate effect of these measures will amount to EUR 260.9m on EVN Group's operating result (EBIT), thereof attributable EUR 210.1m to Bulgaria and EUR 50.8m to Macedonia. Due to these effects, EVN AG's management expects a negative group net result for EVN Group's financial year 2013/14. Those measures are mainly non cash effective and should therefore have no influence on the expected dividend payouts. Maria Enzersdorf, 2 July 2014 LEGAL NOTICE THIS AD-HOC ANNOUNCEMENT CONSTITUTES NEITHER AN OFFER TO SELL NOR A SOLICITATION TO BUY ANY SECURITIES OF EVN AG. THIS AD-HOC ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA AND MUST NOT BE DISTRIBUTED TO U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED ("SECURITIES ACT")) OR TO PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS AD-HOC ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 02.07.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: EVN AG EVN Platz 2344 Maria Enzersdorf Austria Phone: +43-2236-200-12294 Fax: +43-2236-200-82294 E-mail: info@evn.at Internet: www.evn.at ISIN: AT0000741053 WKN: 074105 Indices: ATX Listed: Wien (Amtlicher Handel / Official Market) End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: EVN AG: Ad-hoc announcement - New tariffs in
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