Annual report

Overview

THE YEAR 2018

2.1

billion francs

total operating revenues in 2018
35

million francs

operating income (EBIT) in 2018

THE MOST IMPORTANT EVENTS

  • Repower recorded a gratifying business result, with total operating revenues of 2.1 billion francs and EBIT of 35 million francs.
  • To some extent Repower was already able to take advantage of improved conditions on the market when it came to capitalising on its assets.
  • In 2018 Repower continued to follow through on its promise of “made by the pros for the pros” to acquire very attractive work from third parties.
  • The annual general meeting held on 16 May 2018 elected Dr Monika Krüsi as the new chair of the board of directors.
  • The beginning of December saw the creation of the Italian subsidiary Repower Renewable, which considerably increases Repower Italy’s interests in renewable electricity generation assets. The Repower Renewable portfolio comprises hydropower, solar and wind power installations.
  • Repower Italy has designed a new, completely digital distribution channel which now enables customers to get a flat quote for electricity and gas packages.
  • The company continues to drive the electro-mobility theme forward in Switzerland and Italy. New partnerships, product innovations and tools, and gratifying sales figures, confirm the importance of electric vehicle-related services.
  • At the end of 2018 the Customer Value Centre, a centre of competence designed to serve as a single point of contact, went into operation. It enables Repower to give its customers an optimised experience and channel their needs even more effectively.
  • In the Landquart area Repower dismantled 13 electricity pylons and constructed a new underground cable line. The new line is higher-capacity and easier to maintain, as well as returning the landscape to its original state.
  • Despite a technical failure, the performance of the Teverola power plant in Italy was well above expectations.

FINANCIAL HIGHLIGHTS

 

2018

2017

2016

2015

2014

 

Swiss GAAP FER

Swiss GAAP FER

Swiss GAAP FER

IFRS

IFRS

CHF million

 

 

 

 

 

 

 

 

 

 

 

Revenue and income

 

 

 

 

 

Total operating revenue

2,090

1,847

1,724

1,890

2,273

Earnings before interest, taxes, depreciation and amortisation (EBITDA)

82

79

52

41

77

Depreciation/amortisation and value adjustments

–47

–45

–30

–109

–51

Earnings before interest and taxes (EBIT)

35

34

22

–69

26

Group earnings

16

20

–1

–136

–33

 

 

 

 

 

 

Balance sheet

 

 

 

 

 

Balance sheet total at 31 December

1,873

1,822

1,701

1,828

2,126

Equity at 31 December

807

769

737

600

766

Equity ratio

43%

42%

43%

33%

36%

 

 

 

 

 

 

Further key figures

 

 

 

 

 

Energy gross margin

223

208

194

178

240

Economic value added

–20

–18

–29

–112

–57

Funds from Operations (FFO)

60

72

30

11

63

Cash flow from operating activities

55

43

78

17

98

Net debt

45

–2

–9

270

234

Net debt factor

0,5

0.0

–0,1

4,5

2,6

FFO/net debt

134.1%

< 0%

< 0%

4,1%

26,8%

Investments

35

32

33

31

35

Headcount (FTE)

591

578

563

632

666

ENERGY BALANCE SHEET

STOCK STATISTICS

Share capital

7,390,968

registered shares

@ CHF

1.00

CHF 7.4 million

 

 

 

 

 

 

 

 

 

 

2018

2017

Prices (CHF) on OTC-X, Berner Kantonalbank

 

 

 

 

 

Registered share

 

 

High

80

68

 

 

 

Low

66

55

Dividends (CHF)

2018 1)

2017

2016

2015

 

 

 

 

 

Registered share

0.50

0.00

0.00

-

Bearer share

-

-

-

0.00

Participation certificate (PC)

-

-

-

0.00

1) The 2018 dividend is subject to the decision of the annual general meeting. There are no restrictions or limitations on voting rights.

REPOWER’S SHAREHOLDER STRUCTURE

HEADCOUNT

at 31 December

2018

2017

 

 

 

Total 1)

610

599

Switzerland

442

438

Italy

168

161

 

 

 

Trainees

30

30

Sales consultants Italy

599

602

1) For the numbers in full-time equivalents (FTEs) see "Financial highlights" table.