Notes to the financial statements: further notes

Net release of hidden reserves

In the reporting year, hidden reserves of CHF 6,675 thousand were released (prior year: CHF 11,850 thousand).

Employee information

In the year under review the number of full-time positions at Repower AG averaged 404 over the year (prior year: 388).

Direct and indirect shareholdings

Direct participations

Indirect participations

Contingent liabilities, sureties, guarantee obligations and pledges in favour of third parties

Joint liability for VAT group taxation with Repartner Produktions AG and Ovra electrica Ferrera SA.

To the benefit of group companies, letters of intent and financing agreements amounting to EUR 127.5 million (equivalent to CHF 125.5 million) were concluded (prior year: EUR 84.5 million, equivalent to CHF 87.3 million).

Guarantees in favour of third parties amounting to CHF 9.9 million and EUR 11 million (equivalent to CHF 10.8 million) were provided (prior year: CHF 2.2 million and EUR 7.9 million (equivalent to CHF 8.1 million).

Lease liabilities

The maturities of lease liabilities that do not mature or cannot be terminated within 12 months break down as follows:

Pension fund liability

On the balance sheet date there was a liability to the pension fund of CHF 483 thousand (previous year: CHF 442 thousand).

Related parties

Receivables and liabilities vis-à-vis direct or indirect participants and management bodies and vis-à-vis undertakings in which there is a direct or indirect participation are shown separately in the notes to the financial statements. Participants and management bodies are the shareholders and members of the board of directors (see Note 25) and the auditors of Repower AG.

Events occurring after the balance sheet date

Since 31 December 2022 there have been no other events which require disclosure.

The financial statements were approved for publication by the board of directors on 31 March 2023. They are subject to the approval of the annual general meeting, which will take place on 17 May 2023.

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

There are no other items which require disclosure.