- Annual Report
- Financial Report
- Consolidated Financial Statements of the Repower Group
- Comments on the consolidated financial statements
- Consolidated income statement
- Consolidated statement of comprehensive income
- Consolidated balance sheet
- Change in consolidated shareholders equity
- Consolidated cash flow statement
- Notes
- 1 Total operating revenue
- 2 Personnel expenses
- 3 Depreciation/amortisation and impairment
- 4 Financial result
- 5 Income taxes
- 6 Result per share
- 7 Tangible assets
- 8 Intangible assets
- 9 Disclosures of interests in other entities
- 10 Other financial assets
- 11 Inventories
- 12 Receivables
- 13 Securities and other financial instruments
- 14 Positive/negative replacement values for held-for-trading positions
- 15 Cash and cash equivalents
- 16 Share capital
- 17 Non-current financial liabilities
- 18 Pension fund obligation
- 19 Other provisions
- 20 Other non-current liabilities
- 21 Other current liabilities
- 22 Current financial liabilities
- 23 Information about net current assets for the cash flow statement
- 24 Transactions with related parties
- 25 Additional disclosures on financial instruments
- 26 Business combinations and disposals
- 27 Assets and liabilities held for sale
- 28 Segment reporting
- 29 Contingent liabilities and guarantee obligations
- 30 Obligations under leasing arrangements
- 31 Risk assessment
- 32 Events occurring after the balance sheet date
- Notes to the consolidated financial statements
- Report of the Auditors on the consolidated financial statements
- Financial Statements of Repower AG
- Report of the Auditors on the financial statements
- Consolidated Financial Statements of the Repower Group
- Graphics
- Organisation chart
- Archive
- Cooperation and Innovation
Report of the CEO
Efficiency programme on track
To bolster performance in the coming years, Repower introduced a programme to enhance efficiency at the start of 2013. The full effects of the programme, which will result in savings of around CHF 15 million per year, will be felt for the first time in 2014, although the measures already produced a very positive financial effect in 2013: the total savings amounted to CHF 7 million. The efficiency programme includes a simplification of the organisational structure, downsizing of the Executive Board, cost reductions in the areas of consulting, mobile communication, vehicles and insurance, and a streamlining of the project portfolio with a reduction in investments, including capital expenditure for modernisation and replacement to a maximum of CHF 700 million in the next 10 years. In 2014 Repower will continue rigorously pursuing its efforts to implement the efficiency programme and go on with its strict cost control. Processes to simplify the legal structures at Repower in Switzerland are currently underway. Repower Holding Surselva AG and Repower Klosters AG, both subsidiaries of Repower AG, are merged into Repower Schweiz AG, reducing the administrative burden and, in particular, making it easier to process regulatory requirements. A similar process was conducted in Italy at the start of 2014, when Repower Holding Italia S.p.A. was integrated with Repower Italia S.p.A.