2019 Annual Report with Figures That Everyone Can Understand
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2019 Annual Report With figures that everyone can understand EUR 3,028m EUR 4,091m Revenue Property, plant and equipment EUR 1,095m EUR 299m Investment Profit for the year Our results at a glance Turn to page 12 for intuitive explanations. STATEMENT OF PROFIT OR LOSS EUR m 2019 2018 Revenue 3,028 2,754 Other income 553 512 Raw material, consumables and services used -1,332 -1,100 Personnel expenses -1,067 -1,037 Other expenses -702 -659 Net gains on investments accounted for using the equity method 64 64 Earnings before interest, tax, depreciation and amortisation (EBITDA) 544 535 Depreciation and amortisation -271 -255 Impairment losses and gains 76 24 Operating profit (EBIT) 349 303 Interest income 14 21 Other finance income 39 52 Interest expense -98 -114 Other finance costs -3 -48 Net finance costs -49 -90 Profit before tax 300 213 Income tax expense -1 -4 Profit for the year from continuing operations 299 208 Profit for the year 299 208 EUR 1,095m EUR 299m Investment Profit for the year from continuing operations EUR 1,067m Personnel expenses EUR 3,028m Revenue EUR 2,034m Raw material and consumables used, and other expenses Other sources: B1, B2 – see IFRS financial report; C1, C2 – see sustainability report CONSOLIDATED STATEMENT OF FINANCIAL POSITION EUR m 31 Dec. 2019 31 Dec. 2018 1 Jan. 2018 ASSETS Property, plant and equipment 4,091 3,907 3,787 Intangible assets 158 145 142 Investments accounted for using the equity method 166 379 314 Non-current financial assets 3,500 2,626 2,373 Other non-current assets 415 240 201 Non-current regulatory assets 1,216 1,278 1,345 Non-current assets 9,547 8,574 8,162 Inventories 229 202 109 Trade receivables 243 299 368 Current financial assets 582 408 558 Other current assets 300 158 147 Current regulatory assets 63 71 75 Cash and cash equivalents 450 611 663 Current assets 1,866 1,750 1,920 TOTAL ASSETS 11,413 10,325 10,083 EQUITY AND LIABILITIES Equity 3,555 3,356 2,289 Long-term borrowings 411 425 375 Employee benefit provisions 4,637 4,076 5,074 Other long-term provisions 393 267 230 Other non-current liabilities 804 800 797 Deferred tax liabilities 103 69 18 Non-current liabilities 6,348 5,637 6,493 Short-term borrowings 216 151 202 Trade payables 363 435 392 Other short-term provisions 41 43 67 Other current liabilities 890 702 639 Current liabilities 1,510 1,331 1,300 TOTAL EQUITY AND LIABILITIES 11,413 10,325 10,083 EUR 3,555m EUR 4,091m Equity Property, plant and equipment 0.0% Proportion of nuclear 99.99% energy used Security of supply Wiener Stadtwerke in profile Wiener Stadtwerke is the biggest infrastructure operator in the greater Vienna area. The Group comprises Wien Energie, Wiener Netze, Wiener Linien, Wiener Lokalbahnen, WIPARK, Facilitycomfort, Upstream Mobility, and Bestattung und Friedhöfe Wien. Wiener Stadtwerke has a clear mandate: it supplies the people living in Vienna with essential services and operates the facilities people need in their daily lives. The focus is on energy and trans- port, where the emphasis is on ensuring accessibility for all. Day in, day out, the companies in the Wiener Stadtwerke Group are hard at work around the clock safeguarding and improving essential services in Vienna. Wiener Netze Reliable: Wiener Netze is Aus- Wien Energie tria’s largest combined system Wiener Linien operator. Extending for more Always well supplied: two mil- than 30,000 kilometres, the net- Mobile: Wiener Linien is respon- lion people, 230,000 commercial work covers electricity, gas and sible for building and operating and industrial customers and district heating, as well as tele- the city’s underground, bus and 4,500 agricultural businesses rely communications. With reliability tram network, making sure that on Wien Energie, the nation’s at 99.99%, it is one of best and its 2.6 million daily users arrive at largest energy supplier. Wien most dependable anywhere in their destination quickly, easily Energie generates electricity and the world. and on time. heat from renewable energy sources, as well as at energy- from-waste plants and high- efficiency combined heat and power (CHP) plants. Bestattung & Friedhöfe Wiener Lokalbahnen Reverence: Bestattung und Friedhöfe GmbH is Vienna’s cen- On a roll: Wiener Lokalbahnen tral provider of funeral and cem- operates the Badner Bahn, Wipark etery services. It manages more handles trans-European rail than 550,000 burial plots at 46 freight and helps people with Secure parking: Wipark Gara- cemeteries in the city. Each year restricted mobility to reach their gen GmbH is one of Austria’s it conducts around 14,000 buri- destination. leading car park operators. It als and cremations. offers more than 20,000 parking spaces at its 70-plus safe, clean and well-lit facilities in Vienna and Lower Austria. 2019 Annual Report With figures that everyone can understand 1 We explain the core topics of Wiener Stadtwerke and the underlying new. Content Introduction 2 Contents 4 Forewords 8 Our core topics 10 Materiality matrix A new way of looking at our figures 12 A 1 Sector coupling (energy teamwork) – Energy and Energy Grids – property, plant and equipment 12 A 2 Mobility hub and e-mobility – Transport and Car Parks – property, plant and equipment 13 A 3 Intelligent networking of the service portfolio – Profit for the year from continuing operations 13 A 4 Strategic staff development – Staff costs and pension provision 14 B1 Expansion and development of renewable energy: Energy and Energy Grids – investment 14 B 2 Investment in opening up new routes: Transport – investment 15 B 3 Fit for the future with a focus on digitalisation – Equity 15 B 4 Data security and a zero-tolerance compliance policy – Other provisions 16 C 1 Safeguarding supply security – Security of supply 16 C 2 Increasing energy efficiency –Energy use 17 C 3 Introducing new pricing models – Revenue 17 C 4 Regional procurement and accountability along the supply chain – Raw material and consumables used, and other expenses Report supplement – a look behind the figures MOBILITY 18 Mobility strategy – Interview with Martin Krajcsir 22 A2 We keep Vienna moving 30 A3 B2 Opening up new routes ENERGY 38 Energy strategy – Interview with Peter Weinelt 42 A1 We call it energy teamwork 48 B1 Renewable energy 56 C1 C2 Efficient and secure supply GENERAL TOPICS 62 Tomorrow starts today 65 A3 C3 One-stop shop 70 A4 Embracing diversity 75 B3 B4 The future’s digital 79 B4 C4 We take responsibility 80 Glossary Dear Viennese, Ladies and gentlemen, Business performance e are living in a time mance can be compared more in which health is Wiener Stadtwerke’s produc- easily on an international level. Wparamount and the tivity has risen sharply over the economy is being pushed into past few years. Healthy profit Outlook the background. In this age of ability across the board, stream- We have earmarked a total of Covid-19, we have a particular lined structures and, above all, EUR 4.7bn for investment in responsibility to society in our dedicated employees are a cru- Vienna between 2020 and 2024, role as an energy and transport cial part of this success. A which will underpin continued infrastructure service provider. strong, innovative mindset and provision of essential energy At Wiener Stadtwerke we have safeguarding security of supply and transport infrastructure. continued to deliver uninter- are the cornerstones that will This amount is spread between rupted supplies of electricity, gas permit Wiener Stadtwerke to all of the Group companies, with and heating, and have operated go on successfully shaping the the largest share allocated to a public transport network at future of the city. Wiener Linien at EUR 2.0bn. the very highest level for the 2019 was a highly successful Wiener Netze will receive residents of Vienna at all times. year for Wiener Stadtwerke. We EUR 1.4bn and Wien Energie For this, we owe our dedi- reported profit for the year of EUR 1bn. As a core investor in cated employees a debt of grati- EUR 299m, up from EUR 208m the greater Vienna area, we tude and would like to take this a year earlier, and revenue of make a significant contribution opportunity to thank them for all EUR 3,028m. This strong operat- to achieving the goals set by the their hard work. They spared no ing profit will be invested in City of Vienna through various effort in ensuring that the infra- safeguarding the Group’s future infrastructure development, cli- structure continued to run at a and, as a result, that of the city, mate and environmental protec- world-class level, despite the too. We will make sure that the tion, and innovation promotion difficult conditions facing them. city’s residents continue to have measures. This helps to secure Some gave up their private access to innovative, modern jobs in the region, but also lives completely for several and reliable products and ser- enables us to protect the planet weeks, voluntarily self-isolating vices of the very highest qual- and ensure a brighter future for themselves in power stations so ity – which is far from a given, generations to come. that energy delivery for the peo- especially in light of the bleak We are working hard to ple of Vienna would be guaran- economic forecasts. bundle our services, so that we teed whatever the circumstances. In 2019 the Group changed can offer them to our customers I would like to thank each and its accounting principles, adopt- as packages.