BKW FMB Energy Ltd Annual Report 2003

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78 Entries in the shareholder register The basis for determining entitlement to attend or be represented at the Annual General Meeting is the status of entries of shareholders with voting rights on the 20th day before the Annual General Meeting. 7 Change of control and defensive measures Under the terms of Art. 6 of the Articles of Incorporation, BKW has raised the threshold to 49% for a takeover bid within the meaning of Art. 32 of the Federal Law on Stock Exchanges and Securities Trading. No agreements have been drawn up with or benefi ts planned for members of the Board of Directors and/or Executive Board in the event of transfer of ownership. 8 Auditors Term of offi ce The auditors of BKW are selected on an annual basis. The current auditors are Ernst & Young AG, who have held this offi ce since 1990. The mandate was originally conferred on Neutra Treuhand AG, which was taken over by ATAG Ernst & Young Ltd. Since 2000 this company has operated under the name Ernst & Young AG. Mr Marcel Gehrig has been Chief Auditor since 2003. Fees The auditors’ honorarium for auditing costs related to BKW and other Group companies amounted to CHF 0.3 million for the year under review. The auditors’ honorarium for supplementary services not related to auditing amounted to CHF 1.0 million. Supervisory and control instruments vis-à-vis the auditors Supervisory and control instruments vis-à-vis the auditors constitute one of the key tasks of the new Audit Committee. The Audit Committee normally convenes four times a year. As a rule, the auditors attend these meetings. 9 Information policy The Company is committed to the timely dissemination of transparent and comprehensive information to its shareholders and the general public. It regularly informs the media about important events related to its business activities. A press conference is held at least once a year. Shareholders receive the Annual Report in addition to a written invitation to the Annual General Meeting and, as a rule, a halfyearly shareholder’s letter on business performance. Share price related information is published under the terms of the obligation to disclose as required by the law on Stock Exchanges and Securities Trading. In addition to press releases, special information for shareholders and investors (in particular Annual Reports) are published on the Internet (www.bkw-fmb.ch). 10 Signifi cant changes since 31 December 2003 There have been no signifi cant changes since 31 December 2003.
2004 Organisational Chart General Meeting Nomination and Compensation Committe Audit Committee Board of Directors Corporate Management Energy Hermann Ineichen Networks Patrick Braun Management Services Heinz Raaflaub Corporate Steering Kurt Rohrbach Mühleberg Nucl. Power Plant Patrick Miazza Production Hans-Rudolf Thöni Trade Urs Seiffert Sales Arturo J. Egli Regional Representative Andreas Rohrer Network Technology Thomas Aschwanden Network Infrastructure Markus Haas Human Resources Management Pierre Maeder General Secretariate Matthias Kaufmann Nuclear Fuels Francis Grandchamp Asset Management Production Karl Zgraggen International Sales Urs Lustenberger Key Account Management a.i. Arturo J. Egli Berne (Ostermundigen) Andreas Rohrer Network Operation Charles Moser Network Revenue Management Stefan Witschi Information Technology René Bösiger Finance and Controlling Christian Sahli Operation Walter Lehmann Power Plant Operation Robert Suter Wholesale Stefan Gasser Private and SME Customers Luigi Saitta Langnau Rudolf Graber Network Maintenance Bruno Woodtli Network Asset Management Mohamed Benahmed Legal and Services Urs Bircher Corporate Controlling Harald Henggi Mechanical Engineering Rezsoe Jakab Power Plant Engineering Hans Bodenmann Energy Trading Felix Peter Meier Sales Products Stefan Haas Biel (Nidau) Pierre-Denis Jauss Network Engineering David Orzan Network Support Martin Johner Pension Fund Management Urs Iseli Corporate Accounting Patrick Neuhaus Supervision Anton von Gunten Back Office Trading Fritz Marti Applications and Services Roger Schmid Wangen Hubert Rohner IT Strategy and Deployment Thomas Wettstein Corp. and Brand Communication Martin Pfisterer Electrical Engineering Martin Saxer Spiez Martin Kaufmann Corp. Communication Salome Ramseier Services Hans Carl Guyer Gstaad Ernst Niederhauser Brand Communication Fritz Mühlethaler Delsberg Raymond Bischoff Group Functions Corporate Development Bernd Nordieker Divisions Porrentruy Roger Bleyaert Business Units Internal Auditing Reto Umbricht Functional Units Departments 79
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BKW FMB Energy Ltd Annual Report 20
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Contents 2 Foreword Partnerships st
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The challenges facing energy policy
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Strategy Partnerships and continual
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Broad-based production plant Thanks
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Board of Directors (at 31.12.2003)
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Market Switzerland’s electricity
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Energy Policy Clear Federal Court r
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Future of nuclear power assured Whi
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Production Generating power by part
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BKW electricity In the year under r
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Trade BKW - a competent and reliabl
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Sales Partnership in action - the f
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Networks Guaranteeing network relia
Page 30 and 31: Financial Review Sales and profi t
Page 32 and 33: Consolidated Financial Statements o
Page 38 and 39: 3 Principles of accounting and valu
Page 40 and 41: interest expenses. These are fi nan
Page 42 and 43: 40 8 Financial result CHF (million)
Page 44 and 45: 11 Property, plant and equipment CH
Page 46 and 47: 13 Non-current fi nancial assets CH
Page 48 and 49: 46 16 Accounts receivable CHF (mill
Page 50 and 51: 18 Provisions CHF (million) Nuclear
Page 52 and 53: 50 22 Pension obligations The statu
Page 54 and 55: 52 25 Related parties The following
Page 56 and 57: List of Participations Subsidiaries
Page 58 and 59: Financial Statements of BKW Income
Page 60 and 61: Financial Statements of BKW Notes a
Page 62 and 63: 60 8 Bond issue in 1,000 CHF 31.12.
Page 64 and 65: Report of the Statutory Auditors 62
Page 66 and 67: 64 Appropriation of retained earnin
Page 68 and 69: 66 Signifi cant shareholders In a s
Page 70 and 71: 68 3 Board of Directors Information
Page 72 and 73: 70 AG und Genossenschaft, Jungfraub
Page 74 and 75: 72 - - - - - - - - The Audit Commit
Page 76 and 77: 74 4 Executive Board and Extended E
Page 78 and 79: 76 The members of the Board of Dire
Page 82 and 83: Addresses BKW Head Offi ce BKW FMB
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BKW FMB Energy Ltd Annual Report 2003

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