Group structure and shareholders

The Repower Group consists of Repower AG and its holdings. The registered office of Repower AG is in Brusio in the canton of Graubünden, and its mailing address is in Poschiavo. Repower Group is a vertically integrated energy company with activities along the entire electricity value chain (generation, trading, transmission, sales and distribution) as well as in the gas and certificates business. The business operations of the Repower Group are carried out in divisions and country organisations which operate as a unit in accordance with the business model. There are three divisions and four country organisations.

The Assets Division coordinates the management of plants and systems relating to the generation, transmission and distribution of electricity in the individual country organisations, implements and evaluates new assets relating to the generation of electricity and the transmission system, operates merchant lines, manages the transmission system up to the transfer to swissgrid and devotes its activities to the general development and expansion of generation facilities for the Repower Group. The Market Division manages energy trading (electricity, natural gas and emission certificates) in Switzerland, Italy and other selected European markets as well as trading in renewable energies, and conducts market analyses. It is also responsible for expanding energy trading in Switzerland, Italy and selected European markets, as well as building up sales in selected European country organisations and overseeing the related projects. The division also coordinates the sales activities in the markets. The Finance Division manages the functions Group Accounting, Corporate Treasury, Group Controlling and Risk Management as well as Group-wide business management system support (ERP). Reporting directly to the CEO are the units Shareholding Management, Management Services (including Legal Services, Corporate IT and Document Management), Corporate Marketing and Communications as well as HR Development.

For Switzerland, Italy, Germany and Romania there are also country organisations responsible for the operating business as follows:

  • Country organisation for Switzerland: sales of energy and green electricity certificates to end consumers, operation and maintenance of distribution grids and generating facilities in Switzerland
  • Country organisation for Italy: sales of energy, natural gas and green electricity certificates to end consumers, operation and maintenance of generating facilities in Italy
  • Country organisation for Germany: sales of energy to end consumers, operation and maintenance of generating facilities in Germany
  • Country organisation for Romania: sales of energy to end consumers.

The country organisations for Germany and Romania are currently under development.

The individual activities are managed by Repower AG and not organised as separate legal structures. However, if management by Repower AG is deemed impossible or inefficient for legal, fiscal or regulatory reasons, or if new legal entities are acquired (for example through acquisition), management is handled by legally independent subsidiaries. An overview of holdings is given on pages 68 to 70.

Repower AG bearer shares and participation certificates are listed on the SIX Swiss Exchange. There are no restrictions on the transfer of shares, except as relates to the mandatory offer requirement under Swiss securities law in the event of a public takeover. The canton of Graubünden holds 46.0% of the shares and voting rights, while Alpiq Holding AG (Alpiq) and EGL AG (EGL) hold 24.6% and 21.4% respectively. The principal shareholders are committed to one another through a shareholders' agreement. No cross-shareholdings exist. The remaining 8 % of the shares are free-floating.