EnBW Unit Reports Drop in Full-Year Earnings on Writedowns

Stadtwerke Duesseldorf AG, a unit of Germany’s third-largest power supplier, reported a 19 percent drop in profit last year after writing down investments.

Earnings fell to 87 million euros ($114 million) from 107 million euros in 2011 on sales of 1.84 billion euros, the company said in a statement today.

Stadtwerke Duesseldorf is 55 percent owned by EnBW Energie Baden-Wuerttemberg AG. (EBK)

To contact the reporter on this story: Tino Andresen in Dusseldorf at tandresen1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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