Report 2013 › Energiewende. Safe. Hands on. 201320 Condensed version Report 2013 › Energiewende. Safe. Hands on. 2020 Condensed version Goal system 2013 » 2014 – 2016 » 2020 Finance Goal dimension Financial performance Report on risks Expected trend in finance indicators and opportunities financial performance indicators p. 46 et seq. p. 66 et seqq. p. 102 et seqq. p. 118 et seq. Customers Goal dimension Non-financial perfor- Report on risks Expected trend in customers mance indicators and opportunities the customers area p. 47 et seq. p. 84 p. 106 et seq. p. 119et seq. Employees Goal dimension Non-financial perfor- Report on risks Expected trend in employees mance indicators and opportunities the employees area p. 48 et seq. p. 84 et seqq. p. 104 et seq. p. 120 Compliance Goal dimension Non-financial perfor- Report on risks Expected trend in compliance mance indicators and opportunities the compliance area p. 49 p. 88 et seqq. p. 106 p. 121 Ecology Goal dimension Non-financial perfor- Report on risks Expected trend in ecology mance indicators and opportunities the ecology area p. 49 et seq. p. 90 et seqq. p. 103 p. 121 Our segments Segment 51.1 billion KWh of electricity Sales1 sales (B2C/B2B) Tasks: advisory service; sale of electricity, gas and other prod- 67.7 billion KWh of gas ucts; providing of energy-related services; “Sustainable City” sales (B2C/B2B) project development; support for local authorities, including signing of franchises; collaboration with public utilities 227.1 € million adjusted EBITDA Segment 67.9 TWh of electricity Grids1 transport volumes Tasks: transport and distribution of electricity and gas; pro- 27.8 TWh of gas viding of grid-related services; water supply; electricity supply transport volumes and distribution grid²: 155,000 km; gas pipeline and distri- 2 2 bution grid : 16,000 km; communication network : 2,000 km 961.8 € million adjusted EBITDA Segment 6,344 GWh Renewable Energies1 of generation Tasks: project management, construction and operation 1,059 MW of power plants generating power from renewable energies of installed capacity 216.4 € million adjusted EBITDA Segment 51,744 GWh Generation and Trading1 of generation Tasks: advisory service, construction, operation and decom- 12,653 MW missioning of conventional and nuclear power plants; of installed capacity trading in electricity, building up of gas midstream opera- tions (grid gas level); waste disposal 834.7 € million adjusted EBITDA 1 The figures indicated are taken from the single segments for the year 2013. 2 Rounded figures. Profile » We paved the way for ENBW’s future in 2013. Through the EnBW 2020 programme, we will safe- guard our role as one of Germany‘s largest energy supply companies while actively promoting the Energiewende. Today we supply electricity, gas, water and energy- related products and services to approximately « 5.5 million customers. In order to remain the first point of contact for energy issues, we are position- ing ourselves “close to the customer” and respond- ing with new offerings to the growing demand for local and sustainable energy solutions. Our segments Our We are in the process of redesigning our energy fleet and grids to become the “engine room of the Energiewende” – first and foremost by expanding wind and hydropower and, with the aid of our grid subsidiaries, by increasingly integrating renewable energies into the energy system. About this report The Combined Report 2013 We have further combined the content of financial and sustain- By presenting financial and non-financial corporate targets – ability reporting within this second Combined Report on EnBW. which are measured using top performance indicators – we This move represents a further step towards more concise, are underscoring the importance of a transparent and compre- transparent and informative integrated reporting, thereby sat- hensive orientation to our performance and our stakeholders. isfying our stakeholders’ demand for more information. This Combined Report reflects a strengthening of integrated thinking As part of realigning our corporate reporting, we aim to publish within the company, and arises from a holistic observation that for the 2014 reporting year our first integrated report in line with reflects both financial and non-financial corporate performance. guidelines of the International Integrated Reporting Council It takes into account not only economic, but also ecological and (IIRC). This emphasises to an even greater extent the intermesh- social dimensions. ing of our business model with our corporate and functional strategies, the interaction between financial and non-financial targets, and our comprehensive performance-orientation. The path to integrated reporting at EnBW 2011 2012 + 2013 2014 Annual report Combined Integrated Report Report Sustain- ability report This Combined Report contains the Group management report More about integrated reporting at EnBW is available at for the 2013 fiscal year and a condensed version of the EnBW www.enbw.com/integrated-reporting. consolidated financial statements that does not include the notes to these financial statements. We publish the complete A version of the report configured to individual readers’ interests consolidated financial statements and other documents relating can be customised on the EnBW website at www.enbw.com/ to the financial statements at www.enbw.com/report2013. report2013. The contents of this report serve solely to provide information, and do not comprise an offer, or any recommendation to invest. Please take this into consideration, as well as further important remarks contained on page 154. 2 _ Basis of presentation The information about the EnBW Group’s results of operations, All data and calculation methods contained in this report are net assets and financial position is based on the requirements of based on German and international financial and sustainability International Financial Reporting Standards (IFRS), and, where reporting standards. The respective specialist units applied applicable, German commercial law and German accounting representative methods to generate all data and information standards (DRS). Internal controlling mechanisms ensure that relating to the reporting period. The reporting period com- the information presented in this report is reliable. prises the 2013 fiscal year. We took relevant information until 13 February 2014 into account. Along with EnBW AG, which The materiality analysis that was conducted for the first time in is headquartered in Karlsruhe, Germany, EnBW’s scope of 2013 with EnBW’s central stakeholders, and an internal survey consolidation for its financial reporting also includes all of its conducted among senior EnBW management, form an important important subsidiaries. The reporting limits for the non-financial basis for the selection and detail of the topics described in this performance indicators correspond to the scope of consolidation report. Both financial and non-financial topics of importance for for the financial reporting, unless otherwise stated. this report were identified and commented upon in depth based on this survey and an internal questionnaire. The objective is to More about the Global Reporting Initiative is available at develop early strategies to manage potential opportunities and www.globalreporting.org and at risks. The resultant materiality matrix consequently reflects the www.enbw.com/gri-index. topics’ importance for both external and internal stakeholders. More about the materiality analysis you get in the Report Sustainability topics are reported upon applying the Global 2013 In dialogue with our stakeholders page 41 et seq. Reporting Initiative (GRI) G3.1 guidelines, including its Electric Utilities Sector Supplement. Our sustainability reporting also complies with the “Communication on Progress” requirements for the UN Global Compact. Independent auditing and assurance The condensed financial statements for the 2013 fiscal year that accordance with the International Standard on Assurance form part of the Combined Report do not include the notes to the Engagements (ISAE) 3000 and International Standard on Assur- consolidated financial statements. The full set of consolidated ance Engagements (ISAE) 3410. More information on EnBW’s financial statements – including the notes to the consolidated website at www.enbw.com/report2013 continues to form financial statements – and the combined management report for part of the assurance engagement. Information and key fig- the company and the Group, both for the 2013 fiscal year, were ures included in the scope of the assurance engagement are audited by KPMG AG Wirtschaftsprüfungsgesellschaft as the highlighted accordingly. auditor and Group auditor elected by the annual general meet- ing of EnBW Energie Baden-Württemberg AG on 25 April 2013. The GRI confirmed that the A+ level of the GRI guidelines (Ver- Based on its audit, KPMG AG Wirtschaftsprüfungsgesellschaft sion 3.1) was complied with in the EnBW 2013 report. The dec- arrived at the overall conclusion that the audit did not lead to laration of compliance with the German Sustainability Code was any reservations and issued an unqualified audit opinion. The also submitted in February 2014. The independent assurance full set of consolidated financial statements and the combined report of the selected sustainability performance information management report for the company and the Group, both for the and the GRI statement are available at www.enbw.com/ 2013 fiscal year, as