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Annual Report 2009 (PDF) Falzmarke Falzmarke Falzmarke Falzmarke Annual Report 2009 FINANCIAL CALENDAR 2010/2011 2009 Report Annual 2009 KEY FIGURES AT A GLANCE. RWE MAKE April 22, 2010 Annual General Meeting BIG THINGS • All earnings targets achieved • Recurrent net income up 5 % April 23, 2010 Dividend payment • Acquisition of Dutch energy utility Essent • Dividend of €3.50 per share proposed May 12, 2010 Interim report for the fi rst quarter of 2010 HAPPEN. RWE Group 2009 2008 +/- August 12, 2010 Interim report for the fi rst half of 2010 % External revenue € million 47,741 48,950 -2.5 November 11, 2010 Interim report for the fi rst three quarters of 2010 For our customers. EBITDA € million 9,165 8,773 4.5 Operating result € million 7,090 6,826 3.9 February 24, 2011 Annual report for fi scal 2010 Income from continuing operations before tax € million 5,598 4,866 15.0 Net income € million 3,571 2,558 39.6 April 20, 2011 Annual General Meeting Recurrent net income1 € million 3,532 3,367 4.9 Return on capital employed (ROCE) % 16.3 17.2 – April 21, 2011 Dividend payment Weighted average cost of capital (WACC) before tax % 9.0 8.5 – Value added € million 3,177 3,453 -8.0 May 12, 2011 Interim report for the fi rst quarter of 2011 Capital employed € million 43,597 39,809 9.5 Cash fl ows from operating activites € million 5,299 8,853 -40.1 August 11, 2011 Interim report for the fi rst half of 2011 Capital expenditure € million 15,637 5,693 174.7 Property, plant and equipment € million 5,913 4,454 32.8 November 10, 2011 Interim report for the fi rst three quarters of 2011 Financial assets € million 9,724 1,239 – Free cash fl ow € million -614 4,399 – Number of shares outstanding (weighted average) thousands 533,132 538,364 -1.0 Earnings per share € 6.70 4.75 41.1 Recurrent net income per share1 € 6.63 6.25 6.1 Dividend per share € 3.502 4.50 -22.2 Dec 31, 2009 Dec 31, 2008 Net debt of the RWE Group € million 25,787 18,659 38.2 Workforce3 70,726 65,908 7. 3 1 Net income excluding the non-operating result and excluding non-recurrent effects in the fi nancial result, in the tax expense and in income from discontinued operations. RWE Aktiengesellschaft 2 Dividend proposal for RWE AG‘s 2009 fi scal year, subject to approval by the April 22, 2010 Annual General Meeting. 3 Converted to full-time positions. Opernplatz 1 45128 Essen The Annual General Meeting and all events concerning the publication of the fi nancial reports are broadcast live on the internet and recorded. Germany We will keep the recordings on our website for at least twelve months. T +49 201 12-00 F +49 201 12-15199 The cover of this annual report shows a picture of our new gas-fi red power station in Lingen, Germany, which will go online in the spring of 2010. It I www.rwe.com takes about half an hour for the plant to ramp up its capacity from zero to nearly 900 megawatts. Today, short ramp-up times are becoming increasingly important, because more and more extremely volatile wind electricity is being fed into the grid. Our gas-fi red power plant in Lingen will ensure that electricity is available whenever our customers need it. Even during lulls. RWE_GB09_Umschlag_E_RZ_korr.indd 1 Falzmarke Falzmarke Falzmarke Falzmarke 24.02.10 15:09 Falzmarke Falzmarke Falzmarke Falzmarke Annual Report 2009 FINANCIAL CALENDAR 2010/2011 2009 Report Annual 2009 KEY FIGURES AT A GLANCE. RWE MAKE April 22, 2010 Annual General Meeting BIG THINGS • All earnings targets achieved • Recurrent net income up 5 % April 23, 2010 Dividend payment • Acquisition of Dutch energy utility Essent • Dividend of €3.50 per share proposed May 12, 2010 Interim report for the fi rst quarter of 2010 HAPPEN. RWE Group 2009 2008 +/- August 12, 2010 Interim report for the fi rst half of 2010 % External revenue € million 47,741 48,950 -2.5 November 11, 2010 Interim report for the fi rst three quarters of 2010 For our customers. EBITDA € million 9,165 8,773 4.5 Operating result € million 7,090 6,826 3.9 February 24, 2011 Annual report for fi scal 2010 Income from continuing operations before tax € million 5,598 4,866 15.0 Net income € million 3,571 2,558 39.6 April 20, 2011 Annual General Meeting Recurrent net income1 € million 3,532 3,367 4.9 Return on capital employed (ROCE) % 16.3 17.2 – April 21, 2011 Dividend payment Weighted average cost of capital (WACC) before tax % 9.0 8.5 – Value added € million 3,177 3,453 -8.0 May 12, 2011 Interim report for the fi rst quarter of 2011 Capital employed € million 43,597 39,809 9.5 Cash fl ows from operating activites € million 5,299 8,853 -40.1 August 11, 2011 Interim report for the fi rst half of 2011 Capital expenditure € million 15,637 5,693 174.7 Property, plant and equipment € million 5,913 4,454 32.8 November 10, 2011 Interim report for the fi rst three quarters of 2011 Financial assets € million 9,724 1,239 – Free cash fl ow € million -614 4,399 – Number of shares outstanding (weighted average) thousands 533,132 538,364 -1.0 Earnings per share € 6.70 4.75 41.1 Recurrent net income per share1 € 6.63 6.25 6.1 Dividend per share € 3.502 4.50 -22.2 Dec 31, 2009 Dec 31, 2008 Net debt of the RWE Group € million 25,787 18,659 38.2 Workforce3 70,726 65,908 7. 3 1 Net income excluding the non-operating result and excluding non-recurrent effects in the fi nancial result, in the tax expense and in income from discontinued operations. RWE Aktiengesellschaft 2 Dividend proposal for RWE AG‘s 2009 fi scal year, subject to approval by the April 22, 2010 Annual General Meeting. 3 Converted to full-time positions. Opernplatz 1 45128 Essen The Annual General Meeting and all events concerning the publication of the fi nancial reports are broadcast live on the internet and recorded. Germany We will keep the recordings on our website for at least twelve months. T +49 201 12-00 F +49 201 12-15199 The cover of this annual report shows a picture of our new gas-fi red power station in Lingen, Germany, which will go online in the spring of 2010. It I www.rwe.com takes about half an hour for the plant to ramp up its capacity from zero to nearly 900 megawatts. Today, short ramp-up times are becoming increasingly important, because more and more extremely volatile wind electricity is being fed into the grid. Our gas-fi red power plant in Lingen will ensure that electricity is available whenever our customers need it. Even during lulls. RWE_GB09_Umschlag_E_RZ_korr.indd 1 Falzmarke Falzmarke Falzmarke Falzmarke 24.02.10 15:09 Falzmarke Falzmarke Falzmarke Falzmarke THE RWE GROUP WHAT WE DO. HOW WE HAVE REORGANISED OURSELVES. CONTENTS Five-year overview 2009 2008 2007 2006 2005 RWE is one of Europe’s fi ve leading electricity and gas companies. We are active MAKE BIG THINGS HAPPEN. 4.0 CONSOLIDATED RWE AG RWE Group For our customers. FINANCIAL STATEMENTS 139 in the generation, trading, transmission and supply of electricity and gas. This FIVE-YEAR THE REVIEW OF (PART OVERVIEW OPERATIONS) OF CONTENTS OF TABLE FOLD-OUT Workforce 4.1 Income statement 140 integrated business model enables us to take advantage of the rising demand Workforce at the end of the year3 70,726 65,908 63,439 61,725 85,928 4.2 Statement of recognised Germany Netherlands/ United Central and Renewables Upstream Trading/ for energy. More than 70,000 employees supply over 16 million customers with 2009 IN BRIEF 20 income and expenses 141 Belgium Kingdom Eastern Europe gas & oil gas midstream Research & development electricity and approximately 8 million customers with gas. In fi scal 2009, we Power Sales and 4.3 Balance sheet 142 R&D costs € million 110 105 74 73 55 recorded about €48 billion in revenue. generation distribution 4. 4 Cash fl ow statement 143 networks THE RWE GROUP R&D employees 350 330 270 273 223 TO OUR INVESTORS 22 4.5 Statement of changes in equity 144 Emissions balance Letter from the CEO 22 4.6 Notes 145 Europe is our market: RWE is the No. 1 power producer in Germany, No. 2 in the RWE Power RWE Vertrieb Essent RWE npower RWE Hungária RWE Innogy RWE Dea RWE Supply RWE on the capital market 26 4.7 Auditor‘s report 203 (Hungary) incl. & Trading CO2 emissions million metric tons 149 172 187 178 173 Netherlands, and No. 3 in the UK. We continuously expand our position in Central RWE Aqua, Free allocation of CO certifi cates million metric tons 105 105 170 167 165 eprimo RWE Polska 2 and South Eastern Europe. (Poland) Shortage of CO2 certifi cates million metric tons 44 67 17 11 8 1.0 REVIEW OF OPERATIONS 31 FURTHER INFORMATION 204 RWE Effizienz 1.1 Strategy and structure 32 Material investments 204 VSE Specifi c CO2 emissions metric tons/MWh 0.796 0.768 0.866 0.797 0.788 Our power plant portfolio and our investment programme for building new, (Slovakia) 1.2 Economic environment 39 The RWE Group‘s value management 207 RWE Rheinland 1.3 Political environment 47 Boards 209 environmentally friendly and fl exible generation capacity are the main basis for Westfalen Netz RWE Transgas 1.
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