6 Investments in associates and partner plants
6 Investments in associates and partner plants
|
|
2010 |
2011 |
|
CHF thousands |
|
|
|
|
|
|
|
Carrying amounts at 1 January |
41,071 |
51,784 |
|
Investments (equity increase / acquisition of holding) |
12,656 |
1,550 |
|
Disposals |
- |
-2,940 |
|
Dividends |
-315 |
-337 |
|
Effect of currency translations |
-3,818 |
-401 |
|
Share of the results |
2,190 |
-2,687 |
|
Impairment |
- |
-6,965 |
|
Carrying amounts at 31 December |
51,784 |
40,004 |
The increase in the 2010 financial year was particularly a result of the acquisition of a 39 per cent stake in Aerochetto S.r.l.
The decrease this year is mainly linked to the project company SüdWestStrom StadtKraftWerk Brunsbüttel GmbH & Co. KG which is headquartered in Pinneberg. Repower owns a stake in this project company via Elbe Finance Holding GmbH & Co. KG which has its headquarters in Dortmund. Repower reduced its stake in the project company from 51 per cent to 36 per cent on 28 February 2011. The resultant income amounted to TCHF 808, which is recorded under “Other operating income”. The transaction resulted in a cash inflow of TCHF3,739. Due to the lack of investment security and continued uncertainty about the overall energy policy conditions in Germany, management concluded in the course of the annual impairment tests that the Brunsbüttel project is not realisable in the foreseeable future and project participation thus needs to be subject to unscheduled depreciation to a value of zero. This represents an amount of TCHF 6,965 which is contained in the statement of comprehensive income in the share of results from associates and partner plants of TCHF 9,652.
Key figures for associates |
2010 Gross values |
2011 Gross values |
2010 Repower share |
2011 Repower share |
|
|
|
|
|
Assets |
147,867 |
142,514 |
54,529 |
52,377 |
Liabilities |
-93,020 |
-93,050 |
-36,232 |
-36,035 |
Income |
23,289 |
29,963 |
7,046 |
9,578 |
Expenses |
-21,274 |
-35,488 |
-6,270 |
-11,424 |
Profit/loss |
2,015 |
-5,525 |
776 |
-1,846 |
|
|
|
|
|
Key figures for partner plants |
2010 Gross values |
2011 Gross values |
2010 Repower share |
2011 Repower share |
|
|
|
|
|
Non-current assets |
854,058 |
843,336 |
65,913 |
55,304 |
Current assets |
164,161 |
131,055 |
13,367 |
10,014 |
Non-current liabilities |
-531,261 |
-518,062 |
-36,088 |
-35,241 |
Current liabilities |
-110,985 |
-90,552 |
-9,705 |
-6,415 |
Income |
344,882 |
374,163 |
25,095 |
27,294 |
Expenses |
-312,491 |
-382,399 |
-23,681 |
-28,135 |
Profit/loss |
32,391 |
-8,236 |
1,414 |
-841 |
|
|
|
|
|