Full of Energy - Energie AG Oberösterreich

ANNUAL REPORT2007/2008THE GROUPGROUP MANAGEMENT REPORTTHE ENERGY SEGMENTTHE WASTE MANAGEMENT SEGMENTTHE WATER SEGMENTCONSOLIDATED FINANCIAL STATEMENTSDerivative financial instruments comprise the following items:30/09/2008 30/09/2007Nominal Positive Negative Nominal Positive Negativevalue market values market values value market values market valuesin EUR 1,000 in EUR 1,000 in EUR 1,000 in EUR 1,000Derivatives withfair-value hedge relationInterest swaps – bonds EUR 100 mill. 6,162.9 0.0 EUR 100 mill. 6,323.5 0.0Interest swaps – cross-border leasing USD 110 mill. 16,287.2 0.0 USD 107 mill. 8,741.3 0.0Derivatives without hedge relationStructured interest and foreigncurrencyderivatives EUR 67 mill. 1,094.0 - 410.1 USD 0 mill. 0.0 0.0The derivative financial instruments from the energy sector comprise the following items:30/09/2008 Positive NegativeNominal value market values market valuesPurchase Sale in EUR 1,000 in EUR 1,000Derivatives withcash-flow hedge relationElectricity futures EUR 78.5 mill. EUR 104.7 mill. 8,086.0 - 18,656.0Electricity swaps EUR 0.0 mill. EUR 7.1 mill. 0.0 - 2,731.3Gas swaps EUR 190.3 mill. EUR 22.7 mill. 73,327.2 - 3,045.6Coal swaps EUR 4.1 mill. EUR 0.0 mill. 2,872.3 0.0The following table shows the contractual maturities of payments (nominal values) in connection with thecash-flow hedges, i.e. when the underlying transaction has an effect on the result.30/09/2008 Nominal value MaturityPurchaseSaleHedging transactionElectricity futures EUR 78.5 mill. EUR 104.7 mill. 2008 - 2011Electricity swaps EUR 0.0 mill. EUR 7.1 mill. 2010Gas swaps EUR 190.3 mill. EUR 27.7 mill. 2009 - 2011Coal swaps EUR 4.1 mill. EUR 0.0 mill. 2010 - 201130/09/2007 Nominal value MaturityPurchaseSaleHedging transactionElectricity futures EUR 12.3 mill. EUR 98.4 mill. 2007 - 2010Electricity swaps EUR 0.0 mill. EUR 7.1 mill. 2010Gas swaps EUR 170.0 mill. EUR 0.0 mill. 2009 - 2010As at 30 September 2008, hedging instruments, as they are shown above, were designated as part of fairvaluehedges. For the 2007/2008 business year, the adjustments of the book values for the underlying transactionsresult in losses, recorded in the financial result, of EUR 7,385.3 thousand (EUR 8,133.7 thousand forthe previous year). The changes in attributable current values of hedging transactions resulted in gains of EUR7,385.3 thousand (EUR 8,133.7 thousand) for the previous year, which are shown under other financial results.Derivatives withouthedge relationElectricity forwards EUR 213.9 mill. EUR 215.4 mill. 32,290.8 - 32,496.5Electricity futures EUR 14.3 mill. EUR 1.6 mill. 3,569.7 - 189.1Gas swaps EUR 7.9 mill. EUR 10.0 mill. 7,588.8 - 5,515.211030/09/2007 Positive NegativeNominal value market values market valuesPurchase Sale in EUR 1,000 in EUR 1,000Derivatives withcash-flow hedge relationElectricity futures EUR 12.3 mill. EUR 98.4 mill. 1,482.5 - 1,675.3Electricity swaps EUR 0.0 mill. EUR 7.1 mill. 4.7 - 144.5Gas swaps EUR 170.0 mill. EUR 0.0 mill. 7,857.6 0.0Coal swaps EUR 0.0 mill. EUR 0.0 mill. 0.0 0.0111Derivatives withouthedge relationElectricity forwards EUR 53.8 mill. EUR 53.8 mill. 1,664.0 - 1,526.8Electricity futures EUR 8.2 mill. EUR 4.2 mill. 533.0 - 32.0Gas swaps EUR 7.9 mill. EUR 0.0 mill. 324.0 0.0Further positive market values are contained in long-term and/or short-term assets, and further negative marketvalues are contained in long-term and/or short-term debts.