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Alpiq loses strong coal with coal plants

so: After a failed start-up of the energy company Alpiq sold its two coal-fired power plants in the Czech Republic. But the business of the Alpiq a loss in the millions.

in the years 2012 and 2013, Alpiq wanted to sell the two plants. But no one was willing to pay the price of the current group. Last autumn, Alpiq announced a new start-up. However, a sale should only go on stage if the price, transaction security, and the contract vote conditions, it was said at the time.

on the basis of these criteria, the Board of Directors of the Alpiq seems to be under the leadership of Jens Alder, apparently, modest become. Because the new owner of the two power plants in Kladno and Zlin, the Czech Sev.s Energy Group pays for facilities for the production of approximately 310 million Swiss francs.

Makes the bottom line for the Alpiq is a Minus of CHF 200 million, writes the Alpiq in the message. Because the company has two power plants with a higher value in the books, the buyers do not want to pay. How high at the end of the loss is, in fact, was still not quantifiable, is it at Alpiq on demand.

Among other things, currency fluctuations could change up to the closing of the sale value. The loss will not amount to 200 million Swiss francs, insured Alpiq. Nevertheless, The group will probably lose a three-digit million amount.

Less value because of CO2

blame for the loss were the increase in CO2 prices. This will make coal-fired power plants are generally less attractive, therefore, you lose value. The have corrected Alpiq in the course of the sales negotiations.

But why the value was not corrected until now in the sale down? Alpiq explains it this way: In the course of the year 2018, the CO2-prices in comparison to the power to increase the price disproportionately. This was then left in 2019 so. Nevertheless, the group claims to have seen the end of 2018, there are no signs that the power plant in Kladno, an impairment was needed.

According to the analysts of Zürcher Kantonalbank are surprised by the amount of book loss of CHF 200 million. Nevertheless, they also believe that Alpiq should have on the coal-fired power plants a copyist in this year, even without a sale.

But why would you sell Alpiq at this price at all? "A sale to a private more to the lower economic risk for Alpiq operation," says the spokeswoman. Alpiq get with the transaction, the optimal value in terms of their own sales criteria.

With the sale of Alpiq sink the CO2 emissions of their power plant portfolio by more than 60 percent, writes the company. The strategic direction is clear: the group wants carriers to move away from fossil energy. Because coal is not the technology that Alpiq, in the future, going to put.

With the sale of the Alpiq to flow around 250 million Swiss francs. This will be used to further reduce debt. Still, the company has 1.5 billion in gross debt. In the past few years, the group has been able to reduce this considerably. In addition to the money invested in growth markets such as digital solutions.

remnants of earlier Expansion

joy for sale, it is likely that the new shareholders of Alpiq. An infrastructure Fund of Credit Suisse takes over soon, 25 percent of the shares in the group. This is mainly seen in the large-scale hydroelectric power stations of Alpiq, a sensible investment. Since the coal-fired power plants are a millstone.

The two power plants in Kladno and Zlin belonged to Alpiq-predecessor company Atel. She had gone in the 2000s, in order to grow internationally and become a major Player in the energy business.

With the sale of the Alpiq shrinks. Already in the past year, it has sold the service business. Jens Alder took over after that, as the operational head, in addition to his mandate as Chairman of the Board. He wants to lead the Alpiq in calmer water. The more shrunken Alpiq is to be taken this year, of the stock exchange. (Editorial Tamedia)

Created: 17.05.2019, 16:58 PM

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