Other information

Non-current assets

The fire insurance value for property is CHF 56 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 1,156 million (previous year: CHF 1050 million).

Investments

The list on pages 65 to 67 of the consolidated financial statements summarises the main interests held directly or indirectly by Repower AG.

Provision policy

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.

Net release of hidden reserves

In the year under review, hidden reserves decreased by CHF 7 million (before deferred taxes; previous year: CHF 19.2 million).

Sureties, guarantee obligations and pledges in favour of third parties

Joint liability for VAT Group taxation with Repower Klosters AG, Repower Immobilien AG, Repower Holding Surselva AG, aurax connecta ag, Repower Consulta AG, Repower Ilanz AG, SWIBI AG, Vulcanus Projekt AG, Elbe Beteiligungs AG, Repower Transportnetz AG, Lagobianco SA, Repartner Produktions AG and Ovra electrica Ferrera SA.

Letters of intent and financing agreements amounting to EUR 336 million (CHF 406 million) were concluded (previous year: EUR 303 million, CHF 368 million). Recognised lease liabilities totalled TCHF 697.

No other sureties, guarantee obligations or pledge agreements exist.

Changes in accounting principles / consistency of presentation

In the 2012 financial year, income and expenses from held-for-trading positions are now shown net as disclosed in the consolidated financial statements. The held-for-trading positions are explained in detail in the Notes to the consolidated financial statements. These income statement reclassifications have also been implemented for reasons of comparability with prior-year figures. Based on the old methodology, total net revenue in 2012 amounted to TCHF 4,442,367 (previous year TCHF 4,069,884).

Information on the risk assessment process and related measures

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 at Group level in the Group-wide risk management process, where they are comprehensively managed, controlled and monitored. Explanations on risk assessment at Group level are provided in the Notes to the consolidated financial statements on pages 60 to 63.

1) The compensation amount includes a Board of Directors fee and meeting expenses.

2) In line with the instructions of the members of the Board of Directors concerned, the total compensation or Board of Directors fee is transferred to the member's employer.

In the 2007 financial year, a profit-sharing model was introduced for members of the Executive Board which led to the first bonus payments in 2010. The model is explained in the Corporate Governance section of the Annual Report. At 31 December 2012 there are no obligations arising from this renewed profit-sharing model (previous year: TCHF 268). In the 2012 financial year, payments in kind for car allowances were paid to members of the Executive Board in the amount of TCHF 44 (previous year: TCHF 28). These items are reported in the category “Gross salaries (fixed)”.

No other compensation or loans exist in accordance with Art. 663bbis of the Code of Obligations.

Disclosures in accordance with Art. 663c of the Code of Obligations at 31 December of the financial year:

There are no other factors requiring disclosure under the terms of Arts. 663b and 633c of the Code of Obligations.