31 March 2005 -

Report Summary

Akenerji closed 2004 with US$ 12.6 mn net loss, according to the consolidated and inflation adjusted financial statements. The Company posted an operating loss for the first time in its financials due to narrowing margins, as a result of the increasing natural gas price and stable electricity price. Another major reason of the negative bottom line figure is US$ 28 mn monetary loss figure arising from Akenerji’s net monetary asset position.

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