UPDATE 1-Slovak SPP 2007 profit falls, dividend same

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 BRATISLAVA, April 29 (Reuters) - Slovak natural gas group
Slovensky Plynarensky Priemysel (SPP) said on Tuesday its
consolidated net profit fell to 19.1 billion crowns ($923.6
million) in 2007 from 25.1 billion a year earlier.
                                
 The company, run by a consortium of Gaz de France <GAZ.PA>
and Germany's E.ON <EONG.DE> through a 49 percent stake, said
the 2007 result was influenced by higher energy prices, warm
weather and the strengthening crown currency.
                                
 The remaining 51 percent stake in SPP is owned by the Slovak
government.
                                
 Revenues fell to 80.4 billion crowns last year from 98.8
billion crowns in 2006, as volume of transported gas fell to
72.8 billion cubic metres last year from 73.8 billion in 2006.
                                
 Board member Bernd Wagner told Reuters the company was
focusing on the renewal of contracts with Gazprom <GAZP.MM>, the
almost exclusive supplier.
                                
 "Our contract is expiring by the end of this year, this is
what keeps us currently most busy," he said.
                                
 The SPP group, which includes distribution and transmission
units, declined to provide further details due to the
sensitivity of the issue.
                                
 Gazprom has been demanding a retrospective price hike,
affecting deliveries since late 2006.
                                
 The company also said it would pay 24 billion crowns in
dividends this year, the same as it paid to shareholders last
year. 
                                
 "We will pay it in two steps by the end of the year ... in
Slovak crowns," Chairman Philippe Boucly told Reuters.
                                
 Dividend payments are closely watched by financial markets
as profit repatriation in large companies traditionally puts the
crown currency under weakening pressure.
                                
 The SPP group sells gas on the home market and operates the
Slovak part of a key pipeline delivering Russian natural gas,
provided by Gazprom, to western Europe. It is also a significant
source of the government's income.