11 Feb 2002 – VA Tech, the Austrian technology and services company which operates in the T & D and hydro-power electricity generation markets, today reported preliminary 2001 sales figures of €4551m showing an improvement of 17 per cent over the preceding year. Provisions relating to acquisitions in its Metallurgy division meant that earnings for the year were down 14 per cent to €80m.
VA Tech its Hydraulic Power Generation, Transmission and Distribution, and Infrastructure Divisions had performed well with order intake and operating result growth. The Water Division also achieved increased order intake, although the result is somewhat down on last year due to the strategic expenditure required for entry into operational management business.
According to Dr. Erich Becker, VA TECH Chairman, “Market conditions in our branch were not easy during the past year. Therefore, we regard the fact that our customers have allocated the Group more orders than ever before as clear evidence of their trust. Each of the Metallurgy, HydroPower Generation and Transmission & Distribution Divisions achieved order intake of over €1bn.
The 2001 financial statements and the outlook for 2002 will be published on March 13, 2002. The AGM will take place in Linz on April 17, 2002.
VA Tech today reported preliminary 2001 sales figures of €showing an improvement of 17 per cent over the preceding year