Brief: Hartmann receives advisory opinion from Secretariat of Danish Energy Regulatory Authority

Broedrene Hartmann A/S

10/12/2014 09:13

Dec. 10 (Reuters) - Broedrene Hartmann A/S  HARTb.CO : 
     
    * Hartmann receives advisory opinion from the Secretariat of 
the Danish Energy Regulatory Authority on pricing of district 
heating to Tønder Fjernvarmeselskab 
    * Negotiations between Hartmann and the Secretariat are 
expected to be completed during Q1 2015 
    * If the Secretariat's advisory opinion underlies the final 
conclusion of the case, Hartmann will incur special costs at the 
level of 50 million Danish crowns ($8.32 million) for 
reimbursement to Tønder Fjernvarmeselskab for the period 
2003-2014 
    * A reassessment of the valuation of Hartmann's combined 
heat and power plant based on the Secretariat's advisory opinion 
will result in special costs at the level of 17 million crowns 
    * If the settlement of pricing of district heating in the 
Secretariat's advisory opinion is applied, increased annual 
energy costs of around 5 million crowns will furthermore be 
imposed on Hartmann's production of egg packaging at the factory 
in Tønder 
    * Maintains its outlook for 2014 and sees 2014 revenue of 
1.6-1.7 billion crowns and a profit margin of 9.0-10.5 pct 
     
  
 Source text for Eikon:  ID:nHUG7LXqw4  
     
 Further company coverage:  HARTb.CO   
    
 
 
 
($1 = 6.0111 Danish crowns) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;)) 
 
Keywords: HARTMANN/BRIEF