Annual report 2008/09 - Axpo Group

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Annual Report Axpo Holding AG 68 – 69 Energy business 2008/09 AXPO AG Group 2007/08 AXPO AG Group 2008/09 CKW- Group 2007/08 CKW- Group 2008/09 EGL Group 2007/08 EGL Group 2008/09 Other + consolidation 1) 2007/08 Other + consolidation 1) 2008/09 Total 2007/08 Energy sales in million kWh 28 959 29 764 5 584 5 422 29 030 32 925 – 801 – 983 62 772 67 128 Income statement 2008/09 (condensed), in million CHF 2008/09 AXPO AG Group 2007/08 AXPO AG Group 2008/09 CKW- Group 2007/08 CKW- Group 2008/09 EGL Group 2007/08 EGL Group 2008/09 Other + consolidation 1) 2007/08 Other + consolidation 1) 2008/09 Total Total 2007/08 Net sales Other operating 2 660 2 624 818 755 3 958 4 167 2 – 54 7 438 7 492 income2) 43 38 34 38 32 27 3 4 112 107 Revenues 2 703 2 662 852 793 3 990 4 194 5 – 50 7 550 7 599 Energy procurement, grid utilisation and cost of goods Material and – 1 757 – 1 564 – 402 – 325 – 3 147 – 3 386 49 18 – 5 257 – 5 257 third party supplies – 111 – 103 – 27 – 30 – 16 – 18 – 10 – 6 – 164 – 157 Personnel expenses Other – 232 – 216 – 147 – 138 – 150 – 136 – 46 – 43 – 575 – 533 operating expenses – 204 – 145 – 80 – 60 – 234 – 171 44 42 – 474 – 334 Total operating expenses – 2 304 – 2 028 – 656 – 553 – 3 547 – 3 711 37 11 – 6 470 – 6 281 Earnings before interest, tax, depreciation and amortisation (EBITDA) Depreciation and 399 634 196 240 443 483 42 – 39 1 080 1 318 amortisation – 14 – 34 – 60 – 48 – 113 – 50 – 45 – 8 – 232 – 140 Earnings before interest and tax (EBIT) 385 600 136 192 330 433 – 3 – 47 848 1 178 Share of profi t of associates 29 31 7 8 2 13 5 4 43 56 Financial result – 32 53 101 2 – 84 – 31 – 184 10 – 199 34 Profi t before tax 382 684 244 202 248 415 – 182 – 33 692 1 268 Income tax expenses – 67 – 138 – 2 – 33 – 61 – 100 6 6 – 124 – 265 Profi t for the period 315 546 242 169 187 315 – 176 – 27 568 1 003 Attributable to: Axpo Holding shareholders 321 549 238 166 187 315 – 250 – 108 496 922 Minority interests – 6 – 3 4 3 0 0 74 81 72 81 1) Other + consolidation includes Axpo Holding AG and Axpo Informatik AG, and the effects of consolidation. 2) Includes changes in inventories and capitalised production costs. Total
Balance Sheet 30.9.2009 (condensed), in million CHF 2008/09 AXPO AG Group 2007/08 AXPO AG Group 2008/09 CKW- Group 2007/08 CKW- Group 2008/09 EGL Group 2007/08 EGL Group 2008/09 Other + consolidation 1) 2007/08 Other + consolidation 1) 2008/09 Total 2007/08 Non-current assets 7 393 7 211 1 240 1 103 2 465 2 486 – 840 – 983 10 258 9 817 Current assets 2 069 1 497 422 470 4 323 4 694 515 1 037 7 329 7 698 Total assets 9 462 8 708 1 662 1 573 6 788 7 180 – 325 54 17 587 17 515 Equity 4 489 4 137 1 178 1 084 2 083 2 090 – 155 – 187 7 595 7 124 Minority interests 12 17 42 38 28 20 487 551 569 626 Liabilities Total equity 4 961 4 554 442 451 4 677 5 070 – 657 – 310 9 423 9 765 and liabilities 9 462 8 708 1 662 1 573 6 788 7 180 – 325 54 17 587 17 515 Cash fl ow statement 2008/09 (condensed), in million CHF 2008/09 AXPO AG Group 2007/08 AXPO AG Group 2008/09 CKW- Group 2007/08 CKW- Group 2008/09 EGL Group 2007/08 EGL Group 2008/09 Other + consolidation 1) 2007/08 Other + consolidation 1) 2008/09 Total Total 2007/08 Cash fl ow from operating activities Net investments in 651 545 182 154 175 296 – 107 21 901 1 016 non-current assets2) – 328 – 210 – 20 – 100 – 162 – 244 0 – 13 – 510 – 567 Free cash fl ow 323 335 162 54 13 52 – 107 8 391 449 Cash fl ow from other investing activities Cash fl ow from – 173 – 169 – 66 32 33 – 33 183 59 – 23 – 111 fi nancing activities – 142 – 164 – 52 – 43 – 97 102 – 392 158 – 683 53 Foreign exchange differences 0 0 0 0 – 17 – 18 0 0 – 17 – 18 Change in cash and cash equivalents 8 2 44 43 – 68 103 – 316 225 – 332 373 1) Other + consolidation includes Axpo Holding AG and Axpo Informatik AG, and the effects of consolidation. 2) Excluding loan receivables. Total
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Energy is the future Annual Report
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Key fi gures Finances 2008/09 in CH
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Table of contents Energy is the fut
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Milestones in infrastructure expans
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effi ciently. Competitors can be co
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“Energy is dreaming.” Flavia Ma
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As a company owned by the cantons o
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“Energy is there to make our live
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Energy policy Uncertain trends in f
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Energy market The global economic c
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Electricity prospects In the fi nan
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Bettina Baer, 19, plays in the wome
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Renewable energies How we are inves
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Illustration: Geopower Basel AG Lim
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Annual Report Axpo Holding AG 22 -
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«Energie ist die Sonne.» “Energ
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Page 38 and 39: PRO: ARGUMENTS IN FAVOUR The protec
Page 40 and 41: Axpo is dedicated to climate protec
Page 43 and 44: CONTRA: ARGUMENTS AGAINST Warnings
Page 45 and 46: Group structure and shareholders Gr
Page 47 and 48: Dr. Wulf Glatz, 35, won the 2009 Sw
Page 49 and 50: vis-à-vis third parties and deals
Page 51 and 52: ility, the strategic energy busines
Page 53 and 54: Axpo also has several tools on hand
Page 55 and 56: Corporate bodies and Group function
Page 57 and 58: Peter Reinhard Member of the Board
Page 59 and 60: Executive Board Heinz Karrer Chief
Page 61 and 62: Mobility What will get us moving in
Page 63: Public transport consolidates its p
Page 66 and 67: Annual Report Axpo Holding AG 50 -
Page 70 and 71: “Energy is, when I’m healthy.
Page 82 and 83: PRO: ARGUMENTS IN FAVOUR If we are
Page 84 and 85: Electricity from nuclear energy is
Page 87: CONTRA: ARGUMENTS AGAINST Nuclear e
Page 91 and 92: Minergie A registered quality label
Page 93 and 94: Conventional power plants • 1 KKB
Page 95 and 96: Publishing details Published by Axp
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