Notes to the interim consolidated financial statements

1 Accounting and valuation principles

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.

CHF

01.01.-30.06.2022

01.01.-30.06.2021

 

 

 

Approved and paid dividends per registered share

4.50

3.00

Approved dividends

33,259,356

22,172,904

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:

 

 

Closing exchange rate

Average exchange rate

Currency

Unit

30.06.2022

31.12.2021

01.01.-30.06.2022

01.01.-30.06.2021

 

 

 

 

 

 

EUR

1

0.99600

1.03310

1.03166

1.09442

2 Segment reporting

2 Segment reporting

CHF thousand

Market Switzerland

Market Italy

Other segments and activities

Group

 

 

 

 

 

30 June 2022 unaudited

 

 

 

 

 

 

 

 

 

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

-

 

 

 

 

 

Earnings before interest and taxes (EBIT)

39,825

14,563

–4,252

50,136

 

 

 

 

 

30 June 2021 unaudited

 

 

 

 

 

 

 

 

 

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

-

 

 

 

 

 

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

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

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.

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