EVN completes capital increase
Energy producer EVN AG has finalised its capital increase.The Lower Austrian company, which is listed on the Vienna Stock Exchange (WBAG), said today (Mon) it expected proceeds from the move to be around 180 million Euros.The Lower Austrian government is the main stakeholder in the Maria Enzersdorf-based firm with a 51 per cent interest.German energy supplier EnBW Energie Baden-Württemberg AG now holds 32.5 per cent after not participating in the capital increase.EVNs earnings before interest and taxes (Ebit) improved year on year by 8.3 per cent to 194.1 million Euros in the first nine months of the 2009/2010 business year (October 2009 to June 2010). Analysts had expected a 7.7 per cent rise in earnings.The firm currently employs 8,500 staff in Austria and south eastern Europe.EVN Bulgaria, its Bulgarian subsidy, was recently fined around 1.5 million Euros by the Bulgarian government for breaching local licence regulations. A spokesman for the company said it would appeal.