Annual report of CHC 2012/13; Satisfactory result due to non-recurring items

The overall performance in the energy segment decreased from the previous year to 42.8 million Swiss francs or 8.0% to 492.7 million Swiss francs. It is because of the low rates of electricity for residential and business customers, but also considerably deprived the market price for transactions of optimization. Provisions for the supply of energy expensive contracts of 37.8 million Swiss francs had to be registered to the base in the medium term should also low sale price. A lower yield of 0.9 million Swiss francs due to a weaker performance from federal service and funds for nuclear waste disposal. In the same period last year, reached an excess return of 12.8 million Swiss francs. This energy poses a 55.1 percent more low surplus or deficit of the previous year in the segment with 27.9 million Swiss francs.

Reversal of provisions leads to higher earnings

In the segment, the judgment of the supreme Administrative Court of 29 January 2013 led the networks to a reversal of provisions for regulatory procedures. CHC had appeals against the part of the Federal Commission of electricity and solved successfully the provision for qualified of 46.6 million Swiss francs. Through the sale of shares in CHCs Grid AG, a capital gain of 5.1 million Swiss francs is reflected in the segment of the networks. Through these two one-off effects, the segment complete networks over the previous year, with operating profit more than CHF 63.8 million, 103.9 million Swiss francs.

The installation segment increases the overall performance of 8.9% for FY 2012/13 to 131.4 million Swiss francs. Operating income can be increased at 61.8%, representing 4.2 million francs. The reasons for this positive development within an improved order and cost management, a good load and strong weight gain.

After the structural adjustment of the pension fund PKE Behindertenzentrum energy has arisen a one-time reduction of interest charges to CHF 16.8 million due to the actuarial calculation of active retirement and pension liabilities according to IAS 19 for the CKW group.

2013/14 Views

CSC is still deeply wholesale market prices for power and hard by the rules predictable framework conditions and the requirements of the policy for the current fiscal year. In particular, decisions pending to fund federal decommissioning and waste disposal for nuclear facilities funds can strongly influence the cost of production. In addition, the development of the economic and financial market uncertain in Switzerland and Europe can influence the result of operation of the CSC.

The CKW group key figures

EBIT margin (in % of the)
Overall performance)

Equity of minority interests

Investment in a tangible and intangible. Equipment

* PP: percentage points

2014 General meeting

The Board of Directors proposes a consistent dividend of 4.50 CHF per action the General Assembly by January 31, 2014. The dividend shall be paid on 7 February 2014.

After about ten years of membership of the Board of Directors of CSC, which has six as Chairman of the Board of Directors, Heinz Karrer said yesterday his resignation. The Board of Directors of the General Assembly of Andrew Walo, February 1, 2014 new CEO of Axpo offers group, choice as successor and President of the Group of experts.

The annual report of CHC 2012/13 (annual report and financial statements) is the SCC Web site:

www.CKW.ch > investors > annual report.

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