Consolidated Financial Statements of the Stadtwerke Leipzig Group ...

sums invested in the gas and district heating
network which was on charged to GNL Gasnetz
Leipzig AG, Leipzig (GNL), and FWNL
pursuant to the existing general contractor
agreements.
Losses amounting to €11 million (2008: €7 million)
were transferred with effect on expenses
under a profit/loss transfer agreement between
Stadtwerke Leipzig GmbH and Stadtwerke Leipzig
Netz. The higher losses assumed for Stadtwerke
Leipzig Netz GmbH compared to the previous
year were largely a result of the adjustment
of the technical service contracts. This effect was
partially offset by higher income from gas due
to the cold weather. Furthermore, income from
transfer of profits by GNL amounted to €7 million
during the 2009 financial year.
Segment investment: The Networks segment
invested €4 million (2008: €5 million) in intangible
assets and tangible fixed assets. The main
investments were in the medium- and low-voltage
electricity mains, including local network
stations, to maintain the stability of supply.
Moreover, Stadtwerke Leipzig GmbH granted
the companies GNL and FWNL long-term loans
amounting to €3 million in 2009 to finance
investment; these were posted as long-term
financial investments.
2.5.3 Services
Energy-Related Services: In the Services
segment, turnover from contracting services
totalled €3 million (2008: €3 million). Among
other things this included the erection or installation
of generation plants, cogeneration plants
and heat pumps, as well as the construction of
new compressed-air and lighting systems.
Holdings: The Holdings business unit reported
investment earnings and profit-transfer income
amounting to €9 million in 2009 (2008: €10 million).
The income was generated by HL komm
(€4 million), LAS (€1 million) and perdata
(€4 million).
Pomerania: Income from holdings in the Pomerania
business unit amounted to €0.5 million
during the financial year (2008: €0.5 million);
the biggest contributions came from ZEC Tczew
and STAR-PEC.
Segment investment: All the investment in intangible
assets and tangible fixed assets amounting to
€3 million (2008: €0.5 million) went to Energy-Related
Services, specifically investment in contracting
plant. The Services segment’s investment in
financial assets amounted to €2 million in 2009
(2008: €2 million). The main item was a capital
increase at STAR-PEC (Pomerania business unit).
24 | Annual Financial Statements of Stadtwerke Leipzig GmbH