Annual report 2008/09 - Axpo Group

Annual Report Axpo Holding AG
64 – 65
Editorial / 2–3
Interview with the CEO / 4–6
Strategy / 8–10
Markets and perspectives / 12–18
Success factors / 22–29
Corporate governance / 32–47
Annual report / 50–65
Comprehensive compliance information
is available in Axpo’s
sustainability report.
In order to meet customer
demands for highly available
systems and to enable
the processing of ever
more data, Axpo Informatik
will open a new computer
centre. This centre will
meet the most stringent
demands.
The business with liquefi ed natural gas
(LNG) did very well. EGL procured additional
volumes of LNG in the reporting
year, which it sold to customers in
the Spanish downstream market. With
a view to the growth in the LNG sector
that can be expected in the medium
and long term, EGL also expanded its
resources.
In the year under review EGL
also engaged in some preparatory
work to ensure that the future potential
in the natural gas business can be
exploited, including the establishment
of subsidiaries in Southeastern Europe
and the Trans Adriatic Pipeline project.
Switzerland: objection against
ElCom valuation
In the context of the partial liberalization
of the electricity market in Switzerland
for customers with an annual
consumption of more than 100 000 kWh,
effective as from 1 January 2009, EGL
prepared and implemented the necessary
measures. The required adjustments
to technical facilities, systems
and processes were fi nalized on time
and implemented successfully on
1 January 2009.
The fi nal valuation of EGL’s transmission
grid in Switzerland, which is
needed to determine the grid utilization
fees for the Swiss transmission grid,
is still outstanding. EGL believes that the
grid valuation carried out by the state
regulatory authority ElCom is too low.
EGL Grid AG therefore fi led an appeal
against the ElCom valuation with the
Federal Administrative Court in order
to safeguard the interests of its owners
and maintain its value as a business.
176 full-time positions created
As a consequence of the growth strategy
of the past few years and the expansion
of its business activities in the reporting
year, EGL created 176 new fulltime
positions.
EGL also adapted its internal
structures and processes to keep up with
its growth. It started with the implementation
of an advanced IT strategy,
which consistently follows its business
model and has been designed to ensure
that the IT resources can meet
the demanding requirements of a trans-
European trading company.
In the year under review, EGL
also intensifi ed its compliance programme.
Managers and employees were
given in-depth training in EGL’s compliance
culture and they are obliged to
follow the applicable principles and
rules.
Annual report
of Axpo Informatik AG
As IT partner for the energy sector,
Axpo Informatik AG primarily provides
technical and commercial IT services
for Axpo and the associated cantonal
utilities. The company can look back
on a successful 2008/09 fi nancial year:
the customer portfolio expanded to
include Kernkraftwerk Leibstadt AG,
which will in future rely on Axpo Informatik
AG for its IT infrastructure.
Thanks to this addition and the expansion
of its range of services, Axpo
Informatik AG improved its sales by
24 % to CHF 87.5 million. The workforce
numbered 246 full-time equivalents
at the end of September 2009, compared
to 183 at the end of September 2008.