2011 Annual Report - OTCIQ.com

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172 Notes Name, location Stake (%) TXU Europe (AHST) Limited, GB, Coventry1 100.0 TXU Europe Group Trustee Limited, GB, Coventry1 100.0 TXU Warm Front Limited, GB, Coventry2 100.0 Überlandwerk Leinetal GmbH, DE, Gronau4 48.0 Umspannwerk Miltzow-Mannhagen GbR, DE, Horst5 36.8 Umwelt- und Wärmeenergiegesellschaft Strasburg GmbH, DE, Strasburg2 100.0 Unión de Generadores de Energía, S.A., ES, Zaragoza4 50.0 UNIVERSAL SUN S.R.L., IT, Milan5 Untere Iller AG, DE, Landshut 50.0 2 Uranit GmbH, DE, Jülich 60.0 3 Utilities Center Maasvlakte Leftbank b.v., NL, Rotterdam 50.0 1 Utility Debt Services Limited, GB, Coventry 100.0 2 Valoritzacions Agroramaderes Les Garrigues, S.L., ES, Lérida 100.0 4 VEBA Electronics Beteiligungs GmbH, DE, Norderfriedrichskoog 36.8 1 VEBA Electronics GmbH, DE, Norderfriedrichskoog 100.0 1 VEBA Electronics LLC, US, Wilmington 100.0 1 VEBA Electronics US Holding GmbH, DE, Norderfriedrichskoog 100.0 1 VEBA Investments Limited, GB, Coventry 100.0 1 VEBA OIL SUPPLY AND TRADING LLC, US, Red Bank 100.0 1 100.0 VEBACOM Holdings LLC, US, Wilmington2 100.0 Venado Wind Farm, LLC, US, Wilmington2 100.0 Verkehrs-Servicegesellschaft Paderborn/Höxter mbH, DE, Paderborn5 Versorgungsbetrieb Waldbüttelbrunn GmbH, DE, Waldbüttelbrunn 37.0 5 Versorgungsbetriebe Helgoland GmbH, DE, Helgoland 49.0 2 Versorgungskasse Energie (VVaG), DE, Hanover 90.0 1 Versuchsatomkraftwerk Kahl GmbH, DE, Karlstein 95.1 5 Veszprém-Kogeneráció Energiatermelő Zrt., HU, Győr 20.0 2 VEW-VKR Fernwärmeleitung Shamrock-Bochum GbR, DE, Gelsenkirchen-Buer 100.0 2 55.1 VIAG Connect Ges. für Telekommunikation Ges.m.b.H., AT, Vienna2 100.0 Visioncash, GB, Coventry1 100.0 Volkswagen AG Preussen Elektra AG Offene Handelsgesellschaft, DE, Wolfsburg3 Wärme- und Wasserversorgung Friedensstadt GmbH, DE, 95.0 Trebbin OT Blankensee5 Name, location Stake (%) Wärmeversorgung Schenefeld GmbH, DE, Schenefeld 50.0 5 40.0 Wärmeversorgung Sollstedt GmbH, DE, Sollstedt5 49.0 Wärmeversorgungsgesellschaft Königs Wusterhausen mbH, DE, Königs Wusterhausen2 50.1 Warmtebedrijf Exploitatie N.V., NL, Rotterdam5 50.0 Wasser GmbH Salzhemmendorf, DE, Salzhemmendorf5 49.0 Wasser- und Abwassergesellschaft Vienenburg mbH, DE, Vienenburg5 49.0 Wasserkraftnutzung im Landkreis Gifhorn GmbH, DE, Müden/Aller5 Wasserversorgung Sarstedt GmbH, DE, Sarstedt 50.0 5 Wasserwerk Gifhorn Beteiligungs-GmbH, DE, Gifhorn 49.0 5 Wasserwerk Gifhorn GmbH & Co KG, DE, Gifhorn 49.8 5 Wasserwerks-Betriebsgemeinschaft Klein Heidorn GbR, DE, Neustadt a. Rbge. 49.8 5 Wasserwirtschafts- und Betriebsgesellschaft Grafenwöhr GmbH, DE, Grafenwöhr 50.0 5 WAZV-Abwasserentsorgung GmbH, DE, Nentershausen 49.0 5 WBG GmbH, DE, Helmstedt 49.0 1 WEA Schönerlinde GbR mbH Kiepsch & Bosse & Beteiligungsges. e.disnatur mbH, DE, Berlin 98.0 2 Weißmainkraftwerk Röhrenhof Aktiengesellschaft, DE, Berneck 70.0 2 93.5 Western Gas Limited, GB, Coventry1 100.0 WEVG Salzgitter GmbH & Co. KG, DE, Salzgitter1 50.2 WEVG Verwaltungs GmbH, DE, Salzgitter2 WGS Wärmegesellschaft mbH Saalfeld, DE, Saalfeld 50.2 5 Wildcat Wind Farm I, LLC, US, Wilmington 24.0 1 Wildcat Wind Farm II, LLC, US, Wilmington 100.0 2 WINDENERGIEPARK WESTKÜSTE GmbH, DE, Rendsburg 100.0 2 Windpark Anhalt-Süd (Köthen) OHG, DE, Potsdam 80.0 2 Windpark Mutzschen OHG, DE, Potsdam 83.3 2 Windpark Naundorf OHG, DE, Potsdam 77.8 2 Windy Hills Limited, GB, County Tyrone 66.7 1 100.0 WPG Westfälische Propan-GmbH, DE, Detmold5 22.2 WVM Wärmeversorgung Maßbach GmbH, DE, Maßbach5 22.2 Yorkshire Windpower Limited, GB, Coventry4 50.0 ZAO Gazprom YRGM Development, RU, Salekhard7 25.0 Západoslovenská energetika a.s. (ZSE), SK, Bratislava4 Disclosures Pursuant to Section 313 (2) HGB of Companies in Which Equity Investments Are Held (as of December 31, 2011) 49.0 1 Consolidated affiliated company. 2 Non-consolidated affiliated company for reasons of immateriality. 3 Joint venture pursuant to IAS 31 (valued using the equity method). 4 Associated company (valued using the equity method). 5 Associated company (valued at cost for reasons of immateriality). 6 Other companies in which share investments are held. 7 Included as consolidated associated company pursuant to SIC-12. 8 This company exercised its exemption option under Section 264, Paragraph 3 of the German Commercial Code or under Section 264b of the German Commercial Code. 9 IFRS figures. 10 Short fiscal year October 1, 2010 – September 30, 2011.
CEO Letter E.ON Stock Combined Group Management Report Consolidated Financial Statements Corporate Governance Report Supervisory Board and Board of Management Tables and Explanations Name, location Consolidated investment funds Stake % ACTIVEST A 5 Fonds, DE, Unterföhring7 100.0 ACTIVEST B 18 Fonds, DE, Unterföhring7 100.0 E.ON Treasury 1, DE, Unterföhring7 100.0 EBW Fonds, DE, Unterföhring7 100.0 EDEN Fonds, DE, Unterföhring7 100.0 GRP Fonds, DE, Unterföhring7 100.0 GSB Fonds, DE, Unterföhring7 100.0 GSBW 1 Fonds, DE, Unterföhring7 100.0 HANSE 2 Fonds, DE, Unterföhring7 100.0 MEA Fonds, DE, Unterföhring7 100.0 ON Balance 1 Fonds, DE, Unterföhring7 100.0 OP-ONE Fonds, DE, Unterföhring7 100.0 SEW Fonds, DE, Unterföhring7 100.0 TASSILO Fonds, DE, Unterföhring7 100.0 VKE Fonds, DE, Unterföhring7 100.0 WEB Fonds, DE, Unterföhring7 Disclosures Pursuant to Section 313 (2) HGB of Companies in Which Equity Investments Are Held (as of December 31, 2011) 100.0 Equity Earnings Name, location Other companies in which share investments are held Stake % € in millions € in millions AB Lesto, LT, Vilnius6 11.8 635.5 -1.9 Baumgarten-Oberkappel-Gasleitungsgesellschaft m.b.H., AT, Vienna6 15.0 35.0 24.8 Enovos International S.A., LU, Esch-sur-Alzette6 10.0 619.1 89.6 European Energy Exchange AG, DE, Leipzig6 3.5 57.6 7.5 Forsmarks Kraftgrupp AB, SE, Östhammar6, 9 8.5 32.3 0.1 Gasnor AS, NO, Avaldsnes6 14.0 42.5 6.6 Holdigaz SA, CH, Vevey6 2.2 59.8 11.4 Interconnector (UK) Limited, GB, London6, 10 15.1 52.3 19.2 Powernext, S.A., FR, Paris6 4.9 18.8 5.1 Trans Adriatic Pipeline AG, CH, Baar6 15.0 32.5 -12.2 Transitgas AG, CH, Zurich6 3.0 86.4 2.3 1 Consolidated affiliated company. 2 Non-consolidated affiliated company for reasons of immateriality. 3 Joint venture pursuant to IAS 31 (valued using the equity method). 4 Associated company (valued using the equity method). 5 Associated company (valued at cost for reasons of immateriality). 6 Other companies in which share investments are held. 7 Included as consolidated associated company pursuant to SIC-12. 8 This company exercised its exemption option under Section 264, Paragraph 3 of the German Commercial Code or under Section 264b of the German Commercial Code. 9 IFRS figures. 10 Short fiscal year October 1, 2010 – September 30, 2011. 173
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2011 Annual Report
Page 3 and 4:
Contents 2 CEO Letter 4 E.ON Stock
Page 5 and 6:
Europe’s energy markets are conso
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Dividend At the 2012 Annual Shareho
Page 9 and 10:
Global Units We manage all our oper
Page 11 and 12:
How will we achieve all this? The f
Page 13 and 14:
Top performance requires efficient
Page 15 and 16:
The Energy Roadmap 2050 adopts a sc
Page 17 and 18:
Macroeconomic Environment In 2011,
Page 19 and 20:
Energy Prices Four main factors dro
Page 21 and 22:
Attributable Generating Capacity Th
Page 23 and 24:
The Russia unit generated about 94
Page 25 and 26:
Gas Sales On a consolidated basis,
Page 27 and 28:
Sales Our sales rose by 22 percent
Page 29 and 30:
Sales at the UK regional unit decli
Page 31 and 32:
E.ON generates a significant portio
Page 33 and 34:
Distribution Networks’ EBITDA dec
Page 35 and 36:
and coal-fired power stations. Of t
Page 37 and 38:
Analyzing Value Creation by Means o
Page 39 and 40:
Cash Flow and Financial Position E.
Page 41 and 42:
In addition to our DIP, we have a
Page 43 and 44:
E.ON AG’s Earnings, Financial, an
Page 45 and 46:
Employees HR Strategy The knowledge
Page 47 and 48:
Workforce Figures At year-end 2011,
Page 49 and 50:
Technology and Innovation In 2011,
Page 51 and 52:
The ERC was founded in 2006. Its mi
Page 53 and 54:
Risk Management and Insurance E.ON
Page 55 and 56:
Strategic Risks Our business strate
Page 57 and 58:
E.ON is building a hard-coal-fired
Page 59 and 60:
waste.” The draft legislation men
Page 61 and 62:
In 2012, Sweden will introduce a ne
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Due to lower commodity prices and u
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We anticipate Renewables’ earning
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Opportunities We conduct a bottom-u
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Audit Opinion According to § 322 A
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CEO Letter E.ON Stock Combined Grou
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Page 75 and 76:
Additional information on the State
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Page 79 and 80:
Business Combinations Business comb
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Newly created goodwill is allocated
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Subsequent costs arising, for examp
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Instruments commonly used are forei
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future exercise price. This amount
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Contingent liabilities are possible
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(2) New Standards and Interpretatio
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and joint operations. The provision
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The amended standard also contains
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Russian Federation. The proceeds fr
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The gains on the disposal of invest
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The decrease in tax expense by €3
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Of the deferred taxes reported, a t
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Stock Appreciation Rights of E.ON A
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The fees for financial statement au
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Page 111 and 112:
Page 113 and 114:
Of this total, an amount of €160
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(15) Companies Accounted for under
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The individual impaired receivables
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(20) Additional Paid-in Capital As
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Description of the Benefit Obligati
Page 123 and 124: Description of Plan Assets Defined
Page 125 and 126: Taking into account periodic additi
Page 127 and 128: (25) Miscellaneous Provisions The f
Page 129 and 130: Advance payments made to other wast
Page 131 and 132: At year-end 2011, the following EIF
Page 133 and 134: Construction grants of €2,857 mil
Page 135 and 136: In Sweden, owners of nuclear facili
Page 137 and 138: Competition in the gas market and i
Page 139 and 140: Pursuant to the information availab
Page 141 and 142: CEO Letter E.ON Stock Combined Grou
Page 143 and 144: The fair value of shareholdings in
Page 145 and 146: The following two tables illustrate
Page 147 and 148: Risk Management Principles The pres
Page 149 and 150: A sensitivity analysis was performe
Page 151 and 152: Virtually all of the investments in
Page 153 and 154: Under IAS 24, compensation paid to
Page 155 and 156: Net book gains in 2011 decreased by
Page 159 and 160: (34) Compensation of Supervisory Bo
Page 161 and 162: Notes (36) List of Shareholdings Pu
Page 173: CEO Letter E.ON Stock Combined Grou
Page 177 and 178: In addition to the Company’s peri
Page 179 and 180: The Supervisory Board has establish
Page 181 and 182: and the Consolidated Financial Stat
Page 183 and 184: Compensation of the Members of the
Page 185 and 186: The Supervisory Board, at its discr
Page 187 and 188: the E.ON Group’s ROCE and prior-y
Page 189 and 190: Compensation of the Members of the
Page 191 and 192: The remaining other compensation of
Page 193 and 194: In addition, the Board of Managemen
Page 195 and 196: We examined the Board of Management
Page 197 and 198: Klaus Dieter Raschke Chairman of th
Page 199 and 200: At the Board of Management’s disc
Page 201 and 202: Further information about financial
Page 203 and 204: Assessment After companies have doc
Page 207 and 208: Glossary of Financial Terms Actuari
Page 209 and 210: Prepayments and accrued income Line
Page 211: Financial Calendar May 3, 2012 2012
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