Notes to the financial statements: further notes

Net release of hidden reserves

In the reporting year, hidden reserves of CHF 9,380 thousand were released (prior year: CHF 6,675 thousand).

Employee information

In the year under review the number of full-time positions at Repower AG averaged 424 over the year (prior year: 404).

List of interests

Direct participations

Indirect participations

Contingent liabilities

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

In the course of regular business, Repower AG granted guarantees, bank guarantees and sureties in favour of third parties, directly and via commercial banks. These came to CHF 62,928 thousand (prior year: CHF 146,259 thousand).

Lease liabilities

The maturities of unrecognised 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 517 thousand (previous year: CHF 483 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 main shareholders, the members of the board of directors and the statutory auditors of Repower AG.

Events occurring after the balance sheet date

In January 2024, Repower Italia S.p.A. acquired further shares in Erreci S.r.l. and Erreci Impianti S.r.l., two companies based in Busto Arsizio. The interests were raised from 30 per cent to 70 per cent.

Since 31 December 2023 there have been no other events which require disclosure.

The financial statements were approved for publication by the board of directors on 4 April 2024. They are subject to the approval of the annual general meeting, which will take place on 15 May 2024.

Disclosures in accordance with Art. 959c of the Swiss Code of Obligations at 31 December of the financial year:

There are no other items which require disclosure.