GROUP FUNCTIONS

Last year the group functions (Legal & Risk, Human Resources & Business Support, Marketing & Communications, Finance and IT) channelled their expertise to provide support in the set-up of the new Repower sales organisation. Processes were streamlined further and synergy harnessed where available.

In the year under review Repower continued to sell off non-operational properties. For example it sold a number of properties in various regions for a total of more than CHF 15 million.

ROMANIA

As already announced at the end of 2015, in the course of 2016 Repower looked into the sale of its Romanian business to enable it to concentrate on the key markets Switzerland (including the trading and sales business in Germany) and Italy in accordance with its new strategic alignment. A suitable buyer was found in the form of MET Group, a company with international operations domiciled in Switzerland, which acquired Repower’s entire business in Romania. The staff also transferred to the MET Group, assuring a smooth transition. The sale was completed on 8 November 2016.

EBIT CONTRIBUTION

Other segments and activities posted operating income (EBIT) of CHF –2 million in 2016 (2015: CHF –24 million). This includes the costs of assuring group functions and income from the sale of the non-operational properties mentioned above.