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.