ANNUAL REPORT2007/2008Cash-Flow StatementTHE GROUPGROUP MAN<strong>AG</strong>EMENT REPORTTHE ENERGY SEGMENTTHE WASTE MAN<strong>AG</strong>EMENT SEGMENTTHE WATER SEGMENTCONSOLIDATED FINANCIAL STATEMENTS35. MATERIAL EVENTS AFTER THE BALANCE-SHEET DATEIn connection with the cross-border leasing transactions <strong>of</strong> 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 <strong>of</strong> a dramaticdeterioration <strong>of</strong> 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 <strong>of</strong> which <strong>Energie</strong> <strong>AG</strong>Oberösterreich 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 <strong>of</strong> the cash benefit during theremaining term <strong>of</strong> the transactions.36. INFORMATION ABOUT THE GROUP MAN<strong>AG</strong>EMENT BODIESThe following persons were the appointed members <strong>of</strong> the Board <strong>of</strong> Management <strong>of</strong> <strong>Energie</strong> <strong>AG</strong> Oberösterreichduring the year under review:Leopold Windtner (CEO, Chairman <strong>of</strong> the Board <strong>of</strong> Management, St. Florian),Werner Steinecker (Member <strong>of</strong> the Board <strong>of</strong> Management, Kirchschlag),Roland Pumberger (Member <strong>of</strong> the Board <strong>of</strong> Management, Purkersdorf).During the 2007/2008 business year, the Supervisory Board <strong>of</strong> <strong>Energie</strong> <strong>AG</strong> Oberösterreich consisted <strong>of</strong> the followingmembers:Gerhard Falch (Chairman, as <strong>of</strong> 03 July 2008), Eduard Pesendorfer (Chairman, up to 03 July 2008), Erich Haider(First Deputy Chairman), Michaela Keplinger-Mitterlehner (as <strong>of</strong> 03 July 2008), Georg Bachmair (up to 03 July2008), Alois Froschauer, Ruperta Lichtenecker, Manfred Klicnik (as <strong>of</strong> 03 July 2008), Jörg Mayer (up to 03 July2008), Ludwig Scharinger (as <strong>of</strong> 03 July 2008), Gerhard Merckens (up to 30 July 2008), Anna-Maria Hochhauser(as <strong>of</strong> 03 July 2008), Adolf Mittendorfer (up to 03 July 2008), Bruno Wallnöfer (as <strong>of</strong> 03 July 2008),Kurt Pieslinger (up to 03 July 2008), Manfred Polzer, Viktor Sigl, Franz Gasselsberger (as <strong>of</strong> 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 H<strong>of</strong>bauer, Gottfried Laherstorfer, Franz Müller (up to 03 July 2008), Peter Neissl, Bernhard Steiner,Christian Strobl.Linz, 28 November 2008The Board <strong>of</strong> Management <strong>of</strong> <strong>Energie</strong> <strong>AG</strong> 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 <strong>of</strong> 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 <strong>of</strong> the present-value benefit<strong>of</strong> 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 <strong>of</strong> contributions to construction costs - 17,788.8 - 17,358.9Losses from the disposal <strong>of</strong> assets 3,202.8 3,353.7Gains from the disposal <strong>of</strong> 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 <strong>of</strong> 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 <strong>of</strong> financial assets 9,181.5 17,674.7Acquisition <strong>of</strong> 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 <strong>of</strong> 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 <strong>of</strong> period (18) 150,353.1 45,287.3Funds at the end <strong>of</strong> 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
ANNUAL REPORT2007/2008Development <strong>of</strong> Group EquityTHE GROUPGROUP MAN<strong>AG</strong>EMENT REPORTTHE ENERGY SEGMENTTHE WASTE MAN<strong>AG</strong>EMENT SEGMENTTHE WATER SEGMENTCONSOLIDATED FINANCIAL STATEMENTSGroup Capital Revenue Other reserves Equity <strong>of</strong> Minority TOTALequity reserves reserves Reserves Provision for Own Currency Total shareholders <strong>of</strong> interestIAS 39 new valuation shares differences parent company in equityin EUR 1,000 in EUR 1,000 in EUR 1,000 in EUR 1,000 in EUR 1,000 in EUR 1,000 in EUR 1,000 in EUR 1,000 in EUR 1,000 in EUR 1,000 in EUR 1,000Status as at 30/09/2006 60,000.0 — 731,200.3 16,954.6 — — 6,992.4 23,947.0 815,147.3 12,901.9 828,049.2Changes in equity interests andavailable-for-sale securities — — — 18,225.9 — — — 18,225.9 18,225.9 — 18,225.9Changes in value, without effect on the result,at companies associated at equity — — — 306.5 — — — 306.5 306.5 — 306.5Hedge accounting 16,642.0 16,642.0 16,642.0 — 16,642.0Currency differences — — — — — 2,832.6 2,832.6 2,832.6 442.9 3,275.5Deferred taxes - 8,717.0 - 8,717.0 - 8,717.0 - 8,717.0— — — 26,457.4 — — 2,832.6 29,290.0 29,290.0 442.9 29,732.9Group result — — 114,899.9 — — — — — 114,899.9 1,629.4 116,529.3Total revenues for the period — — 114,899.9 26,457.4 — — 2,832.6 29,290.0 144,189.9 2,072.3 146,262.2Dividend payment — — - 17,106.9 — — — — — - 17,106.9 - 794.6 - 17,901.5Capital increase from corporate funds 20,000.0 - 20,000.0 — — — — — — — -Contributions from shareholders 7,878.8 — — — - 7,878.8 — - 7,878.8 — — -Change in consolidated group — — — — — — — — — - 287.3 - 287.3Status as at 30/09/2007 80,000.0 7,878.8 808,993.3 43,412.0 — - 7,878.8 9,825.0 45,358.2 942,230.3 13,892.3 956,122.6Changes in equity interests andavailable-for-sale securities — — — - 25,055.3 — — — - 25,055.3 - 25,055.3 — - 25,055.3Changes in value, without effect on the result,at companies associated at equity — — — 230.8 — — — 230.8 230.8 — 230.8Hedge accounting — — — 28,319.1 — — — 28,319.1 28,319.1 — 28,319.1Currency differences — — — — — 12,381.5 12,381.5 12,381.5 1,279.7 13,661.2Deferred taxes — — — - 816.0 — — - 5,901.4 - 6,117.4 - 6,117.4 - 342.6 - 6,460.0Changes in value without effect on the result — — — 2,678.6 — — 7,080.1 9,758.7 9,758.7 937.1 10,695.8Group result — — 116,403.9 — — — — — 116,403.9 171.3 116,575.2Total revenues for the period — — 116,403.9 2,678.6 — — 7,080.1 9,758.7 126,162.6 1,108.4 127,271.0Dividend payment — — - 38,157.2 — — — — — - 38,157.2 - 797.9 - 38,955.1Changes in consolidated group — — - 3,112.0 2,089.6 37,541.1 — — 39,630.7 36,518.7 54,822.4 91,341.1Capital increase 9,000.0 205,228.1 — — — — — — 214,228.1 — 214,228.1Own shares — — — — — 7,874.6 — 7,874.6 7,874.6 — 7,874.6132Status as at 30/09/2008 89,000.0 213,106.9 884,128.0 48,180.2 37,541.1 - 4.2 16,905.1 102,622.2 1,288,857.1 69,025.2 1,357,882.3133
Change language