The fire insurance value for property is CHF 51 million (previous year: CHF 53 million.).
An additional property insurance covers all the relevant risks of the Repower Group's Swiss companies. The insurance covers the value of property, plant and equipment excluding real estate and land to the value of CHF 1,050 million (previous year: CHF 1,050 million).
The list on pages 68 and 70 of the consolidated financial statements summarises the main interests held directly or indirectly by Repower AG.
Risks related to delivery and sales contracts are regularly assessed in line with market developments and the necessary provisions recognised or adjusted with the effect on income.
In the year under review, hidden reserves decreased by CHF 50.6 million (before deferred taxes; previous year: CHF none).
Joint liability for VAT Group taxation with Repower Klosters AG, Repower Immobilien AG, Repower Holding Surselva AG, aurax connecta ag, Ilanz, Repower consulta ag, Repower Ilanz AG, SWIBI AG, Vulcanus Projekt AG, Elbe Beteiligungs AG, Repower Transportnetz AG and Ovra electrica Ferrera SA.
Letters of intent and financing agreements amounting to EUR 256 million (CHF 320 million) were concluded (previous year: EUR 235 million, CHF 349 million).
No other sureties, guarantee obligations, pledge agreements or financial leasing obligations exist.
From 2010 onwards, receivables and liabilities relating to energy-business services provided but not yet paid will be included under receivables for goods and services or liabilities for goods and services, and no longer, as in previous years, under deferred income and accrued expenses or prepaid expenses and accrued income. These balance-sheet reclassifications have also been implemented for reasons of comparability with prior-year figures.
Repower AG is fully integrated in the risk assessment and management process at Group level. The main risks relevant for Repower AG are directly incorporated in the Group-wide risk management process, and are comprehensively managed, controlled and monitored.