Full of Energy - Energie AG Oberösterreich

ANNUAL REPORT2007/2008Cash-Flow StatementTHE GROUPGROUP MANAGEMENT REPORTTHE ENERGY SEGMENTTHE WASTE MANAGEMENT SEGMENTTHE WATER SEGMENTCONSOLIDATED FINANCIAL STATEMENTS35. MATERIAL EVENTS AFTER THE BALANCE-SHEET DATEIn connection with the cross-border leasing transactions of the 2000/2001 and 2001/2002 business years, paymentundertaking agreements were signed. Under these agreements, financial institutes undertake to make alllease-back payments directly to the US trust. The contractual conditions stipulate that in the event of a dramaticdeterioration of the deposit ratings and/or the payment undertaking agreements must be exchanged and/orsecured. The critical development on capital markets has led to such a situation, as result of which Energie AGOberösterreich took the corresponding exchange or securing measures in November 2008 within the contractuallyprovided periods. The respective measures have no impact on the consolidated financial statementsas at 30 September 2008 and will lead to lower revenues from the re-transfer of the cash benefit during theremaining term of the transactions.36. INFORMATION ABOUT THE GROUP MANAGEMENT BODIESThe following persons were the appointed members of the Board of Management of Energie AG Oberösterreichduring the year under review:Leopold Windtner (CEO, Chairman of the Board of Management, St. Florian),Werner Steinecker (Member of the Board of Management, Kirchschlag),Roland Pumberger (Member of the Board of Management, Purkersdorf).During the 2007/2008 business year, the Supervisory Board of Energie AG Oberösterreich consisted of the followingmembers:Gerhard Falch (Chairman, as of 03 July 2008), Eduard Pesendorfer (Chairman, up to 03 July 2008), Erich Haider(First Deputy Chairman), Michaela Keplinger-Mitterlehner (as of 03 July 2008), Georg Bachmair (up to 03 July2008), Alois Froschauer, Ruperta Lichtenecker, Manfred Klicnik (as of 03 July 2008), Jörg Mayer (up to 03 July2008), Ludwig Scharinger (as of 03 July 2008), Gerhard Merckens (up to 30 July 2008), Anna-Maria Hochhauser(as of 03 July 2008), Adolf Mittendorfer (up to 03 July 2008), Bruno Wallnöfer (as of 03 July 2008),Kurt Pieslinger (up to 03 July 2008), Manfred Polzer, Viktor Sigl, Franz Gasselsberger (as of 03 July 2008),Rudolf Trauner (up to 03 July 2008), Karl Wiesinger up to 03 July 2008).The following persons were delegated by the Works Council: Bernhard Hager (up to 03 July 2008), ManfredHarringer, Isidor Hofbauer, Gottfried Laherstorfer, Franz Müller (up to 03 July 2008), Peter Neissl, Bernhard Steiner,Christian Strobl.Linz, 28 November 2008The Board of Management of Energie AG Oberösterreich2007/2008 2006/2007in EUR 1,000 in EUR 1,000Result before taxes on income 143,340.2 149,637.6Tax payments - 26,823.0 - 29,230.2Result after taxes on income 116,517.2 120,407.4Depreciation/Write-ups regarding fixed assets 140,481.2 113,680.4Reversal of differentials carried as liabilities - 25,198.5 - 323.5Change in long-term provisions - 3,324.2 - 2,434.6Change in other long-term assets - 4,067.4 - 5,778.9Change in other long-term debt - 3,230.1 106,335.4Income from the reversal of the present-value benefitof the cross-border leasing transactions - 3,817.3 - 3,817.3Retained income from companies associated at equity 15,251.3 12,972.2Contributions to construction costs received 25,759.2 27,109.2Income from the reversal of contributions to construction costs - 17,788.8 - 17,358.9Losses from the disposal of assets 3,202.8 3,353.7Gains from the disposal of assets - 2,312.1 - 37,544.5Other revenues without effect on payments - 4,985.8 —CASH FLOW FROM THE RESULT 236,487.5 316,600.6Change in inventories and short-term receivables - 47,756.6 - 24,644.2Payments from hedging transactions 16,812.5 - 310.5Change in short-term liabilities 33,811.2 15,737.0Change in short-term provisions 5,040.1 4,070.3CASH FLOW FROM OPERATING ACTIVITIES 244,394.7 311,453.2Inpayments from the disposal of fixed tangible assetsand intangible assets 6,430.7 141,578.6Outflows for additions to fixed tangible assetsand intangible assets - 203,621.4 - 240,598.0Inpayments from the disposal of financial assets 9,181.5 17,674.7Acquisition of subsidiary companies minus acquirednet cash and cash equivalents (30) - 96,447.7 - 27,248.6Outflows for additions to financial assetsand other financial investments - 150,432.5 - 38,544.1CASH FLOW FROM INVESTMENTS - 434,889.4 - 147,137.4Dividend payment (32) - 38,955.1 - 17,901.5Capital increase (19) 214,228.1 —Sale/Buy-back of own shares (19) 5,571.9 —Raising and redeeming financial debt 83,083.5 - 41,348.5CASH FLOW FROM FINANCING ACTIVITIES 263,928.4 - 59,250.0TOTAL CASH FLOW 73,433.7 105,065.8Funds at the beginning of period (18) 150,353.1 45,287.3Funds at the end of period (18) 223,786.8 150,353.1130The cash-flow statement includes the following items:131Leo Windtner Werner Steinecker Roland PumbergerInterest received 9,530.1 3,811.8Interest paid 34,255.9 28,177.4