Repower http://www.repower.com/ Repower is an international electricity company based in Canton Graubünden (Switzerland). de Repower http://www.repower.com/ http://www.repower.com/ Repower is an international electricity company based in Canton Graubünden (Switzerland). TYPO3 - get.content.right http://blogs.law.harvard.edu/tech/rss Wed, 09 May 2012 12:57:00 +0200 Repower AGM approves financial statements and annual report, passes resolutions on dividends, and elects two new members to the Board of Directors http://www.repower.com/en/nc/group/article/repower-agm-approves-financial-statements-and-annual-report-passes-resolutions-on-dividends-and-el/ On 9 May 2012 the 108th Repower Annual General Meeting (AGM) in Ilanz approved Repower AG’s 2011 financial statements and Repower’s 2011 consolidated accounts. The AGM also acknowledged the report of the auditors and discharged the members of the Board of Directors. Repower published its annual results for 2011 on 29 March 2012, posting a profit of CHF 54 million on total operating revenues of around CHF 2.5 billion. EBIT came to CHF 130 million, and Repower saw a good operating cash flow of CHF 138 million in what was a difficult year for the energy industry. The AGM voted in favour of the motion proposed by the Board of Directors to distribute a dividend of CHF 5 per share and participation certificate. As already announced on 30 March 2012, two members of the Board of Directors, Antonio M. Taormina and Rudolf Hübscher, declared that they would be stepping down from the board with effect from the date of the 2012 AGM. As per the proposals of the Board of Directors, the AGM voted Daniel Spinnler (born 1956, Remigen AG) and Roger Vetsch (born 1965, Klosters) as new members to complete the terms of office of their predecessors. Daniel Spinnler was proposed by Alpiq, and Roger Vetsch by the Canton of Graubünden. PricewaterhouseCoopers was appointed statutory auditor for a further term of one year. The 108th Repower Annual General Meeting in Ilanz was attended by 249 shareholders representing 2,578,887 of a total of 2,783,115 bearer shares (92.66%). Around 150 guests were also present. Before the resolutions were passed, Chairman of the Board of Directors Dr Eduard Rikli and CEO Kurt Bobst explained the 2011 results. Rikli highlighted the consequences of the current difficult overall economic situation for the energy industry. Since demand for energy is heavily dependent on economic output, he said, it was not surprising that demand was weak and electricity prices low as a result. Rikli also talked about the fundamental debate and key decisions triggered by the energy transition heralded in parts of Europe and efforts to come up with possible scenarios for the technology used to supply electricity, and pointed to the major uncertainty accompanying the process of coming to terms with these things. In this connection CEO Kurt Bobst emphasised that energy supply was an industry with a long-term investment horizon. He said that this difficult phase was likely to last for some time to come. But Repower, he explained, was well positioned, and would be able to benefit from a renewed positive cycle. Bobst also confirmed expectations already communicated at the presentation of the 2011 annual results that Repower would post profits in line with the previous year and EBIT below the prior year level for 2012. Note: Repower published its 2011 annual results on 29 March 2012. The full annual report is available at www.repower.com. Contact: Kurt BobstCEOT +41 81 839 7111M +41 79 221 4655kurt.bobst@repower.com Stefan KesslerCFOT +41 81 839 7111M +41 79 827 6592stefan.kessler@repower.com Werner SteinmannHead of Media RelationsT +41 81 839 7111M +41 79 831 5213werner.steinmann@repower.com On 9 May 2012 the 108th Repower Annual General Meeting (AGM) in Ilanz approved Repower AG’s 2011 financial statements and Repower’s 2011 consolidated accounts. The AGM also acknowledged the report of the auditors and discharged the members of the Board of Directors.

Repower published its annual results for 2011 on 29 March 2012, posting a profit of CHF 54 million on total operating revenues of around CHF 2.5 billion. EBIT came to CHF 130 million, and Repower saw a good operating cash flow of CHF 138 million in what was a difficult year for the energy industry.

The AGM voted in favour of the motion proposed by the Board of Directors to distribute a dividend of CHF 5 per share and participation certificate.

As already announced on 30 March 2012, two members of the Board of Directors, Antonio M. Taormina and Rudolf Hübscher, declared that they would be stepping down from the board with effect from the date of the 2012 AGM. As per the proposals of the Board of Directors, the AGM voted Daniel Spinnler (born 1956, Remigen AG) and Roger Vetsch (born 1965, Klosters) as new members to complete the terms of office of their predecessors. Daniel Spinnler was proposed by Alpiq, and Roger Vetsch by the Canton of Graubünden.

PricewaterhouseCoopers was appointed statutory auditor for a further term of one year.

The 108th Repower Annual General Meeting in Ilanz was attended by 249 shareholders representing 2,578,887 of a total of 2,783,115 bearer shares (92.66%). Around 150 guests were also present.

Before the resolutions were passed, Chairman of the Board of Directors Dr Eduard Rikli and CEO Kurt Bobst explained the 2011 results. Rikli highlighted the consequences of the current difficult overall economic situation for the energy industry. Since demand for energy is heavily dependent on economic output, he said, it was not surprising that demand was weak and electricity prices low as a result. Rikli also talked about the fundamental debate and key decisions triggered by the energy transition heralded in parts of Europe and efforts to come up with possible scenarios for the technology used to supply electricity, and pointed to the major uncertainty accompanying the process of coming to terms with these things. In this connection CEO Kurt Bobst emphasised that energy supply was an industry with a long-term investment horizon. He said that this difficult phase was likely to last for some time to come. But Repower, he explained, was well positioned, and would be able to benefit from a renewed positive cycle. Bobst also confirmed expectations already communicated at the presentation of the 2011 annual results that Repower would post profits in line with the previous year and EBIT below the prior year level for 2012.   

 

Note:

Repower published its 2011 annual results on 29 March 2012. The full annual report is available at www.repower.com. 


Contact:

Kurt Bobst
CEO
T +41 81 839 7111
M +41 79 221 4655
kurt.bobst(at)repower.com

Stefan Kessler
CFO
T +41 81 839 7111
M +41 79 827 6592
stefan.kessler(at)repower.com

Werner Steinmann
Head of Media Relations
T +41 81 839 7111
M +41 79 831 5213
werner.steinmann(at)repower.com

]]> CEE News CEE Press Releases DE News DE Press Releases IT News IT Press Releases Group News Group Press Releases BörsenRELEVANT RU News Wed, 09 May 2012 12:57:00 +0200 Delay in Chlus project http://www.repower.com/en/nc/group/article/delay-in-chlus-project/ In recent months Repower has made rapid progress with work on the Chlus power plant project. Now that the findings of environmental assessments and insights into the technical requirements for individual plant components have been integrated into the project, it has emerged that the cost will be much higher than anticipated. Repower is now looking into ways of optimising the project and reducing the costs. Modifications cannot be ruled out. As a result the completion of the concession project and the public votes on the concession in the municipalities affected, planned for 2012, will be delayed.
The Chlus project, a highly complex technological, environmental and economic undertaking, envisages harnessing the height difference between Küblis and the Rhine near Landquart to generate hydropower. The basic elements of the plan were presented to the public for the first time in 2007. Since then further work has been done, and the project has been worked out in detail in an open process involving the interested parties. At the same time, Repower has done intensive work to define the technical side of the project in detail.

More time needed to work out details of concession project
It has emerged that delivering various components of the power plant will require more work and investment than originally anticipated. For this reason Repower has decided to move ahead quickly with optimising the project and looking into ways of reducing the costs. This will reveal whether it will be necessary to modify the project to ensure the plant can be operated economically, and what these modifications might entail. The work, which will cover technical, economic and environmental aspects of the project, will be done in the next few months.

The result is that the concession project will not be completed and submitted to the municipalities by this summer as originally planned, and the political decisionmaking process will now run beyond the end of 2012.

Investing in the future of energy
In recent years Repower has invested around CHF 150 million in refurbishing its existing power plants in the Prättigau and in building the new Taschinas plant. The company believes there is potential for additional hydropower generation capacity that can feasibly be harnessed between Küblis and the Graubünden section of the Rhine valley. The Chlus project is particularly important in the light of the current debate on the future of power generation in Switzerland. It is one of the few hydropower projects that can supply a substantial amount of electricity and also makes environmental sense. Repower will do everything in its power to review the concession project to take account of the new insights and the relevant requirements and present it within a reasonable time. 



Contact:


Felix Vontobel
Deputy CEO
Head of Assets
7742 Poschiavo, Switzerland
T +41 81 839 7111
M  +41 79 222 0432
felix.vontobel(at)repower.com

Georg Grass
Project Manager
Project Development Hydraulic Plants
7250 Klosters, Switzerland
T +41 81 423 7700
M  +41 79 405 9163
georg.grass(at)repower.com

Werner Steinmann
Head of Media Relations
7742 Poschiavo, Switzerland
T +41 81 839 7111
M  +41 79 831 5213
werner.steinmann(at)repower.com

 

 

]]> Group News Group Press Releases Fri, 27 Apr 2012 19:12:00 +0200 Repower working to simplify legal structures http://www.repower.com/en/nc/group/article/repower-working-to-simplify-legal-structures/ Repower is currently in the process of simplifying its legal structures in Switzerland. Its current legal organisation evolved historically, and is largely based on regional legal entities that emerged from legacy companies based in the Prättigau, Surselva and Poschiavo areas. Over time this organisational form has proven to be increasingly inefficient, especially with the market changing so rapidly. The planned adaptation is designed to prepare Repower for any further liberalisation of the market. The intention now is to create three entities − Repower Schweiz AG, Repower Versorgung AG and Repower Netzanlagen AG, which would all be wholly owned by Repower AG − from different legal entities. To achieve this, the shareholders who besides Repower AG have an interest in the entities involved would have to sell their shares to Repower AG. The shareholders in question currently hold 4.46 per cent of Repower Holding Surselva AG and 0.16 per cent of Repower Klosters AG. Repower is working with these shareholders to find amicable solutions. It will have the existing companies valued by neutral experts and make the current shareholders offers on this basis.Repower Schweiz AG will have its registered office in Ilanz, while Repower Versorgung AG and Repower Netzanlagen AG will be based in Klosters. This week information events were held in Ilanz and Klosters where Repower informed the shareholders and concession municipalities of the plans in detail. Further discussions will be held in the next few weeks to clarify matters with the interested parties affected. The plan is for the ordinary annual general meetings in early 2013 to decide on the adjustment to the legal structure. The planned changes are purely legal in nature. They will have no effect on Repower’s presence in the Graubünden region or branch structures, and likewise no effect on the company’s headcount. Of the 732 employees of Repower Group, 489 work in Canton Graubünden. The company’s headquarters is in Poschiavo, and Repower’s business in Switzerland is managed from Ilanz. Contact:Alfred JankaHead of Repower SwitzerlandMember of the Executive Board7130 Ilanz, SwitzerlandT +41 81 926 2500M +41 79 610 0212alfred.janka@repower.com Werner SteinmannHead of Media Relations7742 Poschiavo, SwitzerlandT +41 81 839 7111M +41 79 831 5213werner.steinmann@repower.com
Repower is currently in the process of simplifying its legal structures in Switzerland. Its current legal organisation evolved historically, and is largely based on regional legal entities that emerged from legacy companies based in the Prättigau, Surselva and Poschiavo areas. Over time this organisational form has proven to be increasingly inefficient, especially with the market changing so rapidly. The planned adaptation is designed to prepare Repower for any further liberalisation of the market.

The intention now is to create three entities − Repower Schweiz AG, Repower Versorgung AG and Repower Netzanlagen AG, which would all be wholly owned by Repower AG − from different legal entities. To achieve this, the shareholders who besides Repower AG have an interest in the entities involved would have to sell their shares to Repower AG. The shareholders in question currently hold 4.46 per cent of Repower Holding Surselva AG and 0.16 per cent of Repower Klosters AG. Repower is working with these shareholders to find amicable solutions. It will have the existing companies valued by neutral experts and make the current shareholders offers on this basis.
Repower Schweiz AG will have its registered office in Ilanz, while Repower Versorgung AG and Repower Netzanlagen AG will be based in Klosters.

This week information events were held in Ilanz and Klosters where Repower informed the shareholders and concession municipalities of the plans in detail. Further discussions will be held in the next few weeks to clarify matters with the interested parties affected. The plan is for the ordinary annual general meetings in early 2013 to decide on the adjustment to the legal structure.

The planned changes are purely legal in nature. They will have no effect on Repower’s presence in the Graubünden region or branch structures, and likewise no effect on the company’s headcount. Of the 732 employees of Repower Group, 489 work in Canton Graubünden. The company’s headquarters is in Poschiavo, and Repower’s business in Switzerland is managed from Ilanz.


Contact:

Alfred Janka
Head of Repower Switzerland
Member of the Executive Board
7130 Ilanz, Switzerland
T +41 81 926 2500
M +41 79 610 0212
alfred.janka(at)repower.com


Werner Steinmann
Head of Media Relations
7742 Poschiavo, Switzerland
T +41 81 839 7111
M +41 79 831 5213
werner.steinmann(at)repower.com

]]> Group News Group Press Releases Thu, 26 Apr 2012 08:54:00 +0200