Report of the Chairman of the BoD and of the CEO

Chairman of the Board of Directors Dr. Eduard Rikli (left) and CEO Kurt Bobst.

The energy sector continues to face a difficult market environment. Besides the development of the euro, low energy prices are also impacting business. Against this backdrop, Repower recorded a sound operating result (EBIT) of CHF 53 million for the first half of 2012. Net profit amounted to CHF 20 million.