RWE AG (Group Centre)
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Financial Calendar 2006 / 2007* The RWE Group — a brief portrait 04 / 13 / 2006 Annual General Meeting RWE Aktiengesellschaft We are one of Europe’s leading electricity and gas companies. Last year, our 86,000-strong Opernplatz 1 workforce generated some € 42 billion in external revenue. Our major power generation, | Annual Report | Annual 2005 04 / 18 / 2006 Ex-dividend date 45128 Essen sales and trading markets are in Germany, the UK and Central Eastern Europe. In the future, Germany RWE we will focus even more on the energy business. Therefore, we intend to sell our water activi- 05 / 15 / 2006 Interim report for the first quarter of 2006 T +49 (0) 201/12-00 ties in the UK and North America by 2007. RWE supplies 20 million customers with electricity with analyst conference call F +49 (0) 201/12-1 51 99 and 10 million with gas. Our drinking water and wastewater services are part of the everyday I www.rwe.com lives of nearly 14 million people in Continental Europe. 08 / 10 / 2006 Interim report for the first half of 2006 • Press conference • Analyst conference 11 / 09 / 2006 Interim report for the first three quarters of 2006 with analyst conference call RWE AG (Group Centre) 02 / 23 / 2007 Annual report for fiscal 2006 • Press conference RWE RWE RWE RWE RWE RWE • Analyst conference Power Energy npower Trading Thames Systems Water 04 / 18 / 2007 Annual General Meeting Power Power Generation Generation 04 / 19 / 2007 Ex-dividend date Exploration Regional Sales 05 / 15 / 2007 Interim report for the first quarter of 2007 and Pro- Energy npower duction Companies with analyst conference call Gas and Oil RWE Dea 08 / 09 / 2007 Interim report for the first half of 2007 Renewables Transmission Renewables • Press conference Grids npower • Analyst conference (Electricity / renewables Gas) 11 / 14 / 2007 Interim report for the first three quarters of 2007 There for you — 24 hours | 365 days with analyst conference call RWE Solutions * All events will be broadcast live on the Internet and can thus be followed by the public at large, investors and analysts simultaneously. We will keep the recordings on our website for at least three months. Annual Report 2005 Five-year overview (Part of the Review of Operations) Key figures 2005 Financial Calendar 2006 / 2007* The RWE Group — a brief portrait 04 / 13 / 2006 Annual General Meeting RWE Aktiengesellschaft We are one of Europe’s leading electricity and gas companies. Last year, our 86,000-strong Opernplatz 1 workforce generated some € 42 billion in external revenue. Our major power generation, | Annual Report | Annual 2005 04 / 18 / 2006 Ex-dividend date 45128 Essen sales and trading markets are in Germany, the UK and Central Eastern Europe. In the future, Germany RWE we will focus even more on the energy business. Therefore, we intend to sell our water activi- 05 / 15 / 2006 Interim report for the first quarter of 2006 T +49 (0) 201/12-00 ties in the UK and North America by 2007. RWE supplies 20 million customers with electricity with analyst conference call F +49 (0) 201/12-1 51 99 and 10 million with gas. Our drinking water and wastewater services are part of the everyday I www.rwe.com lives of nearly 14 million people in Continental Europe. 08 / 10 / 2006 Interim report for the first half of 2006 • Press conference • Analyst conference 11 / 09 / 2006 Interim report for the first three quarters of 2006 with analyst conference call RWE AG (Group Centre) 02 / 23 / 2007 Annual report for fiscal 2006 • Press conference RWE RWE RWE RWE RWE RWE • Analyst conference Power Energy npower Trading Thames Systems Water 04 / 18 / 2007 Annual General Meeting Power Power Generation Generation 04 / 19 / 2007 Ex-dividend date Exploration Regional Sales 05 / 15 / 2007 Interim report for the first quarter of 2007 and Pro- Energy npower duction Companies with analyst conference call Gas and Oil RWE Dea 08 / 09 / 2007 Interim report for the first half of 2007 Renewables Transmission Renewables • Press conference Grids npower • Analyst conference (Electricity / renewables Gas) 11 / 14 / 2007 Interim report for the first three quarters of 2007 There for you — 24 hours | 365 days with analyst conference call RWE Solutions * All events will be broadcast live on the Internet and can thus be followed by the public at large, investors and analysts simultaneously. We will keep the recordings on our website for at least three months. Annual Report 2005 Five-year overview (Part of the Review of Operations) Key figures 2005 RWE’s divisions 2005 key figures at a glance RWE Power is Germany’s biggest power producer. The company • Operating result up 4 % and up 8 % net of one-off effects Five-year overview* 2005 2004 2003 2002 2001 Five-year overview* 2005 2004 2003 2002 2001 produces lignite and generates electricity from coal, nuclear • Net income 4 % higher despite impairment loss for American Water RWE Group TFY1 RWE Aktiengesellschaft TFY1 fuel, gas and renewables. Its subsidiary RWE Dea produces • ROCE target for 2006 (14 %) already exceeded External revenue € million 41,819 42,137 43,875 46,633 33,301 Dividend / dividend payment gas and oil. • Net financial debt reduced to € 11.4 billion Income Dividend payment € million 9848 844 703 619 562 • € 1.75 per share dividend proposal 17 % up on previous year EBITDA € million 8,324 8,400 8,476 7,241 3,637 Dividend per share € 1.758 1.50 1.25 1.109 1.0010 Operating result € million 6,201 5,976 5,551 4,504 2,029 Market capitalization / rating Income from continuing operations before tax2 € million 3,828 3,935 2,123 2,722 1,143 Market capitalization at end of fiscal year € billion 34.9 22.6 17.5 13.7 23.6 RWE Group 2005 2004 +/– Net income2 € million 2,231 2,137 953 1,050 621 Long-term credit rating in % RWE Energy is our sales and grid company for customers in Conti- Earnings per share2 € 3.97 3.80 1.69 1.87 1.10 Moody’s A1 A1 A1 A1 Aa3 External revenue € million 41,819 42,137 –0.8 nental Europe. The company supplies electricity, gas and water Return on equity % 21.3 23.8 10.4 13.5 7.3 (outlook) (stable) (negative) (negative) (negative) (negative) EBITDA € million 8,324 8,400 –0.9 from a single source in twelve regions within and outside Return on revenue % 14.9 15.1 10.2 10.7 6.4 Standard & Poor’s A+ A+ A+ A+ AA– Operating result € million 6,201 5,976 3.8 Germany. Value management3 (outlook) (negative) (negative) (negative) (stable) (negative) Income from continuing operations before tax € million 3,828 3,935 –2.7 Return on Capital Employed (ROCE) % 14.7 13.5 10.4 10.4 11.1 Net income € million 2,231 2,137 4.4 Value added € million 2,408 1,998 781 395 307 Recurrent net income1 € million 2,257 1,794 25.8 Capital employed € million 42,139 44,480 53,961 44,293 37,860 Return on capital employed (ROCE) % 14.7 13.5 – Cash flow / capital expenditure / depreciation and amortization RWE npower is responsible for our UK energy business. The compa- Weighted average cost of capital (WACC) before tax % 9.0 9.0 – Cash flows from operating activities € million 5,304 4,928 5,289 5,933 1,021 ny has an integrated business model. Operations include the Value added € million 2,408 1,998 20.5 Free cash flow4 € million 1,637 1,499 927 1,838 –1,274 generation of electricity from coal, gas, oil and renewables as Capital employed € million 42,139 44,480 –5.3 Capital expenditure € million 4,143 3,737 9,762 16,985 3,706 well as the sale of electricity and gas. Cash flows from operating activities € million 5,304 4,928 7.6 Property, plant and equipment € million 3,667 3,429 4,362 4,095 2,295 Capital expenditure € million 4,143 3,737 10.9 Depreciation, amortization, impairment losses and asset disposals5 € million 4.098 7,051 6,819 6,655 3,144 Property, plant and equipment € million 3,667 3,429 6.9 Free cash flow per share € 2.91 2.67 1.65 3.27 –2.27 Financial assets € million 476 308 54.5 Workforce Free cash flow2 € million 1,637 1,499 9.2 RWE Trading ranks among Europe’s leading energy traders. We Workforce at end of fiscal year6 85,928 97,777 127,028 131,765 155,634 Earnings per share € 3.97 3.80 4.5 trade electricity, gas, coal and mineral oil as energy sources in Asset / capital structure7 Dividend per share € 1.753 1.50 16.7 their physical state as well as energy derivatives to hedge price Non-current assets € million 70,344 65,406 66,731 69,170 57,581 * Part of the Review of Operations. risks. 12/31/05 12/31/04 Current assets € million 37,778 27,964 32,411 31,103 33,868 1 Truncated fiscal year for the Group from July to December 2001. Net financial debt € million 11,438 12,385 –7.6 2 As a result of the change in International Financial Reporting Standards, the figures for 2004 and 2005 do not include goodwill amortization. Balance sheet equity € million 13,117 11,193 9,065 8,924 11,129 Workforce4 85,928 97,777 –12.1 3 Figures for 2004 to 2005 are based on a new method. Please refer to pages 186 et seqq. of RWE’s 2004 annual report. Non-current liabilities € million 64,302 60,321 61,327 64,384 54,000 4 Cash flows from operating activities minus capital expenditure on property, plant and equipment.