Notes to the interim consolidated financial statements
1 Accounting and valuation principles
General information
The consolidated semi-annual financial statements presented here comprise the unaudited semi-annual financial statements for the six months to 30 June 2022. This interim report has been prepared in accordance with Swiss GAAP FER 31 Complementary Recommendation for Listed Companies in abridged form, and should therefore be read in conjunction with the consolidated financial statements for the year to 31 December 2021.
In individual cases, roundings can mean that figures in this report do not add up to the exact total specified, and that the specified percentages do not exactly result from the stated figures.
Dividends paid
The dividend payment for the 2021 financial year was approved by the annual general meeting on 18 May 2022.
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CHF |
01.01.-30.06.2022 |
01.01.-30.06.2021 |
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Approved and paid dividends per registered share |
4.50 |
3.00 |
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Approved dividends |
33,259,356 |
22,172,904 |
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Paid dividends (without dividends on treasury shares) |
33,258,636 |
22,172,454 |
Currencies
The following exchange rates were used as a basis for converting the figures in the income statement and balance sheet into CHF:
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|
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Closing exchange rate |
Average exchange rate |
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Currency |
Unit |
30.06.2022 |
31.12.2021 |
01.01.-30.06.2022 |
01.01.-30.06.2021 |
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|
|
|
|
|
|
EUR |
1 |
0.99600 |
1.03310 |
1.03166 |
1.09442 |
2 Segment reporting
|
CHF thousand |
Market Switzerland |
Market Italy |
Other segments and activities |
Group |
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30 June 2022 unaudited |
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Net sales from goods and services |
762,815 |
1,443,773 |
–20,234 |
2,186,354 |
|
Net sales from goods and services |
745,689 |
1,440,643 |
22 |
2,186,354 |
|
Net sales from goods and services between segments |
17,126 |
3,130 |
–20,256 |
- |
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|
|
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Earnings before interest and taxes (EBIT) |
39,825 |
14,563 |
–4,252 |
50,136 |
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|
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|
30 June 2021 unaudited |
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|
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|
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|
|
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|
|
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Net sales from goods and services |
393,210 |
873,522 |
–2,298 |
1,264,434 |
|
Net sales from goods and services |
386,753 |
877,492 |
189 |
1,264,434 |
|
Net sales from goods and services between segments |
6,457 |
–3,970 |
–2,487 |
- |
|
|
|
|
|
|
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Earnings before interest and taxes (EBIT) |
21,446 |
40,507 |
–2,401 |
59,552 |
Net sales from goods and services also include gains and losses (realised and unrealised) on trading transactions. Depending on the party and the business in question, revenues are stated under other items.
3 Changes in consolidations
On 16 May 2022, Repower Italia S.p.A. acquired interests of 27.77 per cent and 29.52 per cent respectively in the Erreci S.r.l. and Erreci Impianti S.r.l.. These two companies are predominantly involved in developing solar installations, from procuring the requisite materials and services to building the installation itself, and in reselling energy. In addition to a cash component of CHF 5,337 thousand, the purchase price consists of deferred purchase price components in the amount of CHF 1,646 thousand disclosed under other current and non-current liabilities. Repower recognises the two acquired companies as associates according to the share of equity in the Market Italy segment. Goodwill of CHF 5,153 thousand arising from the transaction is a component of the investment. The purchase price allocation is provisional.
4 Events occurring after the balance sheet date
The bond in the amount of CHF 96 million recognised under current financial liabilities on 30 June 2022 was repaid as scheduled on 20 July 2022.
The consolidated interim financial statements were approved by the board of directors on 24 August 2022.
Since 30 June 2022 there have been no other events which require disclosure.