Annual report 2008/09 - Axpo Group
Annual report 2008/09 - Axpo Group
Annual report 2008/09 - Axpo Group
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<strong>Annual</strong> Report <strong>Axpo</strong> Holding AG<br />
50 – 51<br />
Editorial / 2–3<br />
Interview with the CEO / 4–6<br />
Strategy / 8–10<br />
Markets and perspectives / 12–18<br />
Success factors / 22–29<br />
Corporate governance / 32–47<br />
<strong>Annual</strong> <strong>report</strong> / 50–65<br />
<strong>Annual</strong> <strong>report</strong> of <strong>Axpo</strong> <strong>Group</strong><br />
Unsatisfactory performance<br />
in a challenging<br />
economic environment.<br />
<strong>Axpo</strong> <strong>Group</strong> has to <strong>report</strong> a substantial profi t contraction<br />
for the <strong>2008</strong>/<strong>09</strong> fi nancial year. This downturn was<br />
mainly caused by additional charges arising from re gulatory<br />
intervention, a recession-related slump in electricity<br />
demand and a weaker fi nancial result. On the<br />
other hand, <strong>Axpo</strong> traded successfully on the international<br />
electricity exchanges, and the production of electricity<br />
by its own power plants increased again, with production<br />
from new renewable energies such as biomass<br />
and small-scale hydropower plants showing a pleasing<br />
gain. <strong>Axpo</strong> once again invested substantial amounts<br />
in the maintenance and expansion of its power plant and<br />
grid capacities.
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