Semi-annual report

Overview

OVERVIEW OF THE FIRST HALF OF 2018

1,05

CHF billion

Total operating revenue 1^st half-year 2018

CHF million

Operating income (EBIT) 1^st half-year 2018

The most important events of the first half of 2018

In the first half of 2018 Repower Group generated total operating revenue of CHF 1,053 million (up 16% on the first half of 2017).
Operating income (EBIT) was CHF 9 million. Earnings came in at practically the same level as in the prior-year period.
The Market Switzerland and Market Italy segments both posted positive operating earnings.
The organisational realignment has enabled Repower to continue execution of its strategy according to plan. In the first six months Repower scored successes in its core business, in contracts for third parties, and in new services.
The annual general meeting held on 16 May 2018 elected Dr Monika Krüsi as the new chair of the board of directors.
The company also made good progress in electric transportation in both Switzerland and in Italy. Many new partnerships are facilitating the expansion of the public PLUG’N ROLL network in Switzerland, and the introduction of a highly advanced remote control system for electric vehicle charging stations – a revolution in this sector – is creating a stir in Italy.

FINANCIAL HIGHLIGHTS

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	1st half-year 2018	1st half-year 2017	1st half-year 2016	1st half-year 2015	1st half-year 2014
	Swiss GAAP FER	Swiss GAAP FER	IFRS	IFRS	IFRS
CHF million

Revenue and income
Total operating revenue	1,053	905	881	922	1,196
Income before interest, taxes, depreciation and amortisation (EBITDA)	32	42	51	29	57
Depreciation and value adjustments	–23	–22	–5	–63	–25
Income before interest and taxes (EBIT)	9	20	45	–34	32
Group result	0	1	18	–108	4

Balance sheet
Balance sheet total at 30 June	1,771	1,822	1,792	1,780	2,014
Equity at 30 June	768	769	620	631	793
Equity ratio	43%	42%	35%	35%	39%

Further key figures
Energy gross margin	104	109	113	93	125
Economic value added	–15	–6	8	–60	–15
Operating cash flow	15	22	44	11	46
Net debt	–38	–37	233	253	308
Debt factor	–0.6	–0.4	2,4	4	2,6
FFO / Net debt	< 0%	< 0%	23,0%	7,3%	17,8%
CAPEX*	12	11	9	9	11
Headcount (FTE)	575	569	627	671	700

* Includes investments in tangible assets, intangible assets and associates, and loans for investment purposes

STOCK STATISTICS

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Share capital	7,390,968	registered shares	at CHF	1.00	CHF 7.4 million

Prices (CHF) 1				1st half-year 2018	1st half-year 2017
Registered share			High	73	63
			Low	66	55

1 Source: OTC-X, Berner Kantonalbank

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Dividend (CHF)	2017	2016	2015	2014	2013

Registered share	0.00	0.00	0.00	0.00	2.00

REPOWERʼS SHAREHOLDER STRUCTURE

HEADCOUNT

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at 30 June	2018	2017

Switzerland	432	428
Italy	162	161
Total	594	589

Trainees	30	30
Sales consultants Italy	600	606