Wiener Stadtwerke Annual Report 2012

Earnings position of the Wiener stadtwerke group
The earnings of the Wiener Stadtwerke Group in 2012 were
severely impacted by extraordinary items – particularly the
revaluation of provisions for pension obligations and the
impairment charges taken again gas-fired power stations and
domestic investments. Despite the unfavourable circumstances
prevailing in the energy sector, it is possible that the Group will
break even in 2013 as a result of increases in efficiency and the
cost-cutting programmes introduced.
investment programme of the Wiener stadtwerke group
In the 2013 financial year, the Wiener Stadtwerke Group plans
to invest a total of approximately EUR 1,100.7 million, of which
around 929.2 million will be in tangible assets.
INVESTMENTS IN TANGIBLE ASSETS
in percent
51.2% Transport segment
0.3% Others
0.7% Car parks segment
1.6% Funerals and cemeteries
segment
46.2% Energy segment
The largest investment projects include, among others:
• Energy segment: Smart metering and the Smart Campus,
investments in the electricity and gas networks, the
expansion of the district heating network and district
heating production facilities, optimising the energy
efficiency of the waste incineration plant at Spittelau and
participation-based investments in the area of renewable
energy sources.
• Transport segment: Tramway services (procurement of ULF
units, extension of line 26) and underground services
(procurement of new underground trains (Type V and T1),
underground network extension work (Phases 3 and 4 on
the U1 and U2 lines) and the upgrading of the main
workshops in Simmering.
Funding for the planned investments is secured, on the one
hand, mainly by the consistently positive operational cash
flows in the energy sector and, on the other, by ticket sales and
public grants in the transport segment. Overall, the financial
position of the Wiener Stadtwerke Group can be considered to
be stable due to the high reserves of liquidity and the stable
cash flows.
Based on the abovementioned strategic objectives of the
various segments, the Wiener Stadtwerke Group will further
consolidate its position as one of the most important infrastructure
providers in Austria. The top priority here is to
actively exploit growth opportunities in all of the Group‘s
business areas and to ensure a steady increase in enterprise
value as the means of safeguarding the high quality of the
services provided in future in the interests of customers.
13. Events after the balance sheet date
A restructuring project was launched in the first quarter of
2013 which, through a series of reorganisation steps, aims to
optimise the legal structure of entities in the energy segment
as a basis for further optimisation projects.
Vienna, 13 March 2013
THE BOARD OF MANAGEMENT
Gabriele Payr Martin Krajcsir
Marc H. Hall Gabriele Domschitz
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