- Annual Report
- Overview
- Foreword from the Chairman of the Board of Directors and CEO
- 2025 strategy
- Market Switzerland
- Market Italy
- Other segments and activities
- Sustainability
- Corporate Governance
- Basic principles
- Group structure and shareholders
- Capital structure
- Board of Directors
- Executive Board of the Repower Group
- Shareholders' rights of participation
- Change of control and defensive measures
- Auditor
- Information policy
- Implementation of the ordinance against excessive compensation in listed stock companies
- Events after the balance sheet date
- Board of Directors
- Executive Board
- Compensation report
- Financial Report
- Consolidated financial statements of the Repower Group
- Comments on the consolidated financial statements
- Consolidated income statement
- Consolidated statement of comprehensive income
- Consolidated balance sheet
- Changes in consolidated shareholders equity
- Consolidated cash flow statement
- Notes
- 1 Total operating revenue
- 2 Personnel expenses
- 3 Depreciation/amortisation and impairment
- 4 Financial result
- 5 Income taxes
- 6 Result per share
- 7 Tangible assets
- 8 Intangible assets
- 9 Disclosures of interests in other entities
- 10 Other financial assets
- 11 Inventories
- 12 Receivables
- 13 Securities and other financial instruments
- 14 Positive/negative replacement values for held-for-trading positions
- 15 Cash and cash equivalents
- 16 Share capital
- 17 Non-current financial liabilities
- 18 Pension fund obligation
- 19 Other provisions
- 20 Other current liabilities
- 21 Current financial liabilities
- 22 Prepaid expenses and accrued income/deferred income and accrued expenses
- 23 Transactions with related parties
- 24 Additional disclosures on financial instruments
- Fair value hierarchy
- 25 Business combinations, disposals and liquidations
- 26 Assets and liabilities held for sale
- 27 Segment reporting
- 28 Contingent liabilities and warranty liabilities
- 29 Obligations under leasing arrangements
- 30 Events occurring after the balance sheet date
- Notes to the consolidated financial statements
- Consolidated accounting principles
- Summary of accounting and valuation principles
- Consolidation
- Accounting and valuation principles
- Capital and enterprise value management
- Risk management and financial risk management
- Estimation uncertainty
- Report of the auditors on the consolidated financial statements
- Financial statements of Repower AG
- Income statement
- Balance sheet
- Notes to the financial statements
- 1 Net sales
- 2 Depreciation/amortisation and impairment
- 3 Extraordinary, non-recurring or prior period income
- 4 Extraordinary, non-recurring or prior period expenses
- 5 Cash and cash equivalents and current assets with a stock exchange price
- 6 Trade receivables
- 7 Other receivables
- 8 Inventories and non-invoiced services
- 9 Financial assets
- 10 Intangible assets
- 11 Trade creditors
- 12 Short-term interest-bearing liabilities
- 13 Other current liabilities
- 14 Long-term interest-bearing liabilities
- 15 Other long-term liabilities
- 16 Provisions
- 17 Shareholders equity
- Share capital
- Treasury shares
- Other information
- Appropriation of retained earnings
- Report of the auditors on the financial statements
- Consolidated financial statements of the Repower Group
- Graphs
- Organisation Chart
- Archive
- Focus on the customers
Market Switzerland
“By supplying the energy for our chairlifts, snowmakers and restaurants, Repower helps give our guests the ultimate snow experience.”
Beat Zenklusen, manager of Bergbahnen Brigels Waltensburg Andiast AG, in front of “his” snow cannon.
Generation and projects
At 707 gigawatt hours, the volume of energy generated by the company's own hydropower facilities in Canton Graubünden in 2015 came in above the 10-year average. However, the market price of electricity remained so low that it was not possible to profitably capitalise on this. Last year Repower continued to invest in maintaining the operating status of its assets with clearly focused capital expenditure of around CHF 4.8 million.
In April 2015, Repower submitted the application for approval of the Lagobianco pumped-storage project to the Canton Graubünden authorities. The same month the company also handed in the request for concession approval for the Chlus hydropower project following signature of the relevant agreements with the 12 concession-granting municipalities. Given the economic environment and Repower's limited scope for investment, a decision to proceed with realising the Lagobianco project is still not conceivable. However, since the Chlus plant would eliminate positive and negative surge in the Landquart and enable fish passage along the entire river, significant co-funding with resources earmarked for river restoration and rehabilitation would be possible for this project. Not only this, but as part of the first package of measures related to the Swiss federal government's energy strategy, funding has been earmarked for projects such as Chlus. Repower also submitted an application for approval of the Taschinas 2 hydropower plant concession and project. Finally, Canton Graubünden authorised the renovation of the Morteratsch power plant, enabling the plant to generate double the amount of electricity. Thanks to the feed-in remuneration at cost (KEV) scheme, Morteratsch can also be run profitably in the difficult environment that prevails at present. Preliminary construction commenced in 2015, and the main work will begin in the spring of 2016.