Wiener Stadtwerke Annual Report 2012

Smart Campus (head offices of
Wien Energie Stromnetz GmbH)
At the southern end of the existing site of Wien Energie
Gasnetz, Wien Energie Stromnetz is building its new head
offices. The design was selected in the course of an EU-wide
architectural competition. The building will also be smart due
to the fact that priority is even being given to energy efficiency
and functionality during the planning phase. Once completed,
the building will be smart in terms of its administrative and
operational running costs. For example, users will be provided
with information which allows them to manage their energy
consumption intelligently.
At the Smart Campus in the Simmering District, the
centralisation of all Wien Energie Stromnetz departments will
reduce travel, facilitate communication and simplify processes.
The future users are being involved in the planning process in
order to reach these objectives.
Increase in gas network pressure
Following the completion of the third field trial in Schwechat
and in parts of the 11th and 14th Districts, the area-wide
roll-out began on 1 April 2012. The results of the field trials as
well as the subsequent back testing were evaluated and
integrated into the project planning.
The installation of the pressure regulators in high-altitude
areas has been completed. The procedure is based on the
sectors in which gas meters are being exchanged in order to
maximise the synergies. The installations planned in the
north-east of Vienna and in Gerasdorf have already been
identified and the safeguards integrated into the modernisa-
tion process. This involved changing the gas meters in the
course of calibration work, the building pressure regulators or
gas meter regulators installed and building supply pipes being
renewed if necessary.
Business development
FINANCIAL RESULTS
in EUR million
20121) 2010/11 ± ±%
Turnover 3,178.7 2,472.8 705.9 28.5
Electricity sales 1,897.2 1,593.5 303.7 19.1
Gas sales 558.7 373.1 185.6 49.7
Heat sales 722.8 506.3 216.5 42.8
EBIT -692.0 62.7 -754.7 n.a.
Financial result -16.3 19.3 -35.6 -184.5
EBT -708.3 82.0 -790.3 n.a.
profit / loss for the year -710.8 77.3 -788.1 n.a.
Investments in intangible
assets
13.0 15.4 -2.4 -15.6
Investments in tangible assets 440.1 331.5 108.6 32.8
Investments in financial assets 79.2 238.0 -158.8 -66.7
Total investment 532.3 584.9 -52.6 -9.0
1) Due to the change in balance sheet date, 2012 includes five quarters
Differences as a result of rounding figures have not been eliminated
As has been mentioned above, the figures reported for the
energy segment in 2012 contain the results of five quarters due
to the change in this segment‘s balance sheet date. The
comparability of the figures with those of the prior year is
therefore limited.
The subsidiaries Windnet KG and Vienna Természeti Erö kft
were fully consolidated for the first time in the 2012 financial
year.
Turnover
By far the largest proportion of the turnover of the
Wiener Stadtwerke Group is generated by the energy segment.
Excluding the fifth quarter, electricity revenues were marginally
lower than in the prior period, which is attributable to lower sales
to key accounts. This was more than offset by higher gas revenues
as well as price-related increases in district heating revenues as a
result of which overall higher turnover was generated.
Result on ordinary activities (EBT)
The negative result here is mainly accounted for by the
Group-wide change in the methods applied to calculate
provisions for pension obligations, the drop in the interest
rate, and the impairment charges taken against power station
assets.
The financial result deteriorated as a result of the decline in
the recognised value of shares in EconGas and Verbund.
Investments
The energy segment invested a total of EUR 532.3 million
during the financial year. Investments in tangible assets rose by
32.8 percent, compared to the prior year, to EUR 440.1 million.
Besides the consideration of five quarters, this was also due to
the first-time consolidation of Windnet Windkraftanlagenbetriebs-GmbH
& Co KG and Vienna Energy Természeti Erö kft.
Investments in financial assets in 2011 in the amount of
EUR 238.0 million resulted mainly through the acquisition of
shares in Verbund Innkraftwerke GmbH (Germany).
Transport segment
Transport segment Local passenger services
Transport services for the disabled
Rail cargo
The transport segment consists of the Wiener Linien division
and the Wiener Lokalbahnen Group. Due to their relative
scales, the development of the business of these two divisions
is presented here separately.
The network operated by Wiener Linien is made up of five
underground lines, 29 tram lines and 98 bus lines, which in
total carry around 2.5 million passengers daily. The Wiener
Lokalbahnen Group is the operator of a twin-track, completely
electrified, railway line between Vienna and Baden. Within the
city limits, the infrastructure of Wiener Linien is also used. This
division also operates three of its own bus lines, whereby the
licenses of the Verkehrsverbund Ost Region (VOR) are made
Consolidated Management Report | Annual Report 2012
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