DOCSLIB.ORG

Highlights of Commerzbank Group

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Highlights of Commerzbank Group annual report 2003 highlights of Commerzbank group 2003 2002 Income statement Operating profit (7 m) 559 192 Operating profit per share (7) 1.03 0.36 Pre-tax profit (7 m) –1,980 –372 Net loss (7 m) –2,320 –298 Net loss per share (7) –4.26 –0.56 Operative return on equity (%) 4.9 1.6 Cost/income ratio in operative business (%) 73.3 77.3 Pre-tax return on equity (%) –17.4 –3.1 31.12.2003 31.12.2002 Balance sheet Balance-sheet total (7 bn) 381.6 422.1 Risk-weighted assets according to BIS (7 bn) 140.8 160.2 Equity as shown in balance sheet (7 bn) 9.1 8.8 Own funds as shown in balance sheet (7 bn) 18.7 19.3 BIS capital ratios Core capital ratio, excluding market-risk position (%) 7.6 7.5 Core capital ratio, including market-risk position (%) 7.3 7.3 Own funds ratio (%) 13.0 12.3 Commerzbank share Number of shares issued (million units) 597.9 542.2 Share price (7, 1.1.–31.12.) high 17.58 21.29 low 5.33 5.04 Book value per share*) (7) 17.37 18.98 Market capitalization (7 bn) 9.3 4.0 Customers 6,840,000 6,039,000 Staff Germany 25,426 28,603 Abroad 6,951 7,963 Total 32,377 36,566 Short/long-term rating Moody’s Investors Service, New York P-1/A2 P-1/A2 Standard & Poor’s, New York A-2/A- A-2/A- Fitch Ratings, London F2/A- F2/A- *) excluding cash flow hedges structure of commerzbank group Board of Managing Directors Corporate Divisions Group Retail Banking and Corporate and Services Group companies and major holdings Management Asset Management Investment Banking Staff Banking Service ● Hypothekenbank in ● COMINVEST Asset ● BRE Bank SA ● Commerz Business Management GmbH departments departments departments Essen AG ● Commerzbank Consulting AG ● ADIG-Investment (Budapest) Rt. Luxemburg S.A. ● Erste Europäische ● Commerzbank ● pdv.com ● AFINA Bufete de Socios (Eurasija) SAO Pfandbrief- und Beratungs-GmbH Financieros, S.A. ● ● Accounting and Taxes ● Asset Management ● Corporate Banking ● Global Operations Kommunalkreditbank AG Commerzbank ● Caisse Centrale (Nederland) N.V. Investment Banking de Réescompte, S.A. ● SOLTRX Solutions for ● Commerz (East Asia) Ltd. ● Compliance and ● Credit Operations ● Financial Institutions ● EUROHYPO AG financial business GmbH ● CICM Fund Management ● P. T. Bank Finconesia Security Private Customers ● IT Development Limited ● Global Credit Operations ● Commerz International ● TC TrustCenter AG ● Corporate ● Private Banking ● IT Investment Banking ● Korea Exchange Bank Capital Management ● Commerz Grundbesitz- (Japan) Ltd. gesellschaft mbH Communications and ● Multinational Corporates ● Jupiter International ● Economic Research ● Retail Banking ● IT Production CommerzLeasing und Group plc Immobilien AG ● Real Estate ● ● Financial Controlling IT Support ● Commerzbank Europe ● ● Securities (Ireland) CBG Commerz Beteiligungsgesellschaft ● Group Treasury ● Organization ● Commerzbank Holding mbH International S.A. ● Commerzbank Capital ● ● Human Resources ● Transaction Banking Commerzbank Markets Corp. (South East Asia) Ltd. ● Commerz Futures, LLC ● Commerzbank ● Internal Auditing (Switzerland) Ltd ● Commerz Securities (Japan) Co. Ltd. ● Legal Services ● comdirect bank AG ● COMMERZ PARTNER ● Risk Control Domestic and foreign branch network Beratungsgesellschaft für Vorsorge- und Finanz- produkte mbH ● Strategy and Controlling ● Commerz Service GmbH Cooperation in bancassurance area ‡ What happens if somewhere in the world a new trend appears? ‡ your phone rings ‡ you shouldn’t chase after opportunities, but rather meet them head-on. But who lets you know where things are happening and what’s promising? We do, for example. When we find something suitable, we tell you immediately. ‡ ideas ahead ‡ ‡ What should an optimal property- financing deal look like? ‡ how you want it to ‡ Our mixture for an individual financing ‡ With whom do german companies do the plan: a calculation of your financial possibilities, plan- best deals abroad? ‡ with commerzbank ‡ ning involving state promotion funds and attractive SEDUS stoll ag, one of germany’s largest producers of office fur- interest-rate conditions, and finally A thorough technical niture, draws upon our experience. Just as other companies have check of the object of your choice. This all adds up to a for decades. That’s why we’re involved in 16% of germany’s overall package ideally suited to your needs. external trade today. When are you coming to us? ‡ ideas ahead ‡ ‡ ideas ahead ‡ ////// www.commerzbank.com / //////////////////////////////////////////////////////////// ////// www.commerzbank.com / //////////////////////////////////////////////////////////// ////// www.commerzbank.com / //////////////////////////////////////////////////////////// ‡ what do we do with funds that are better ‡ What if you have more important things to than our own? ‡ we get them into the team ‡ do than to go to your bank? ‡ then we simply how does a successful team come about? You look for the best. And come to you ‡ you can settle a lot of things by phone or that’s precisely how we select our funds for you. For this purpose, we online, but not everything. We prefer to discuss with you personally perform a completely neutral analysis of thousands of offers. And if what is crucial for you. anywhere you wish. the funds of other companies are interesting, we recommend them. ‡ ideas ahead ‡ ‡ ideas ahead ‡ ‡ it’s quite normal to be available for cus- tomers at all hours ‡ we think so, at any rate ‡ you can always reach us. By using our self-service zones and our extensive online services, Giving retail and corporate customers all they need in the way of banking. ‡ ideas ahead ‡ ////// www.commerzbank.com / //////////////////////////////////////////////////////////// ////// www.commerzbank.com / //////////////////////////////////////////////////////////// ////// www.commerzbank.com / //////////////////////////////////////////////////////////// ‡ ideas ahead ‡ or: how do we get our message across? In banking, the advertising “battle” for cus- The translation of the slogan tomers primarily takes place at the emotional into advertising takes account level: how can we position our Bank such that of the various target groups, our customers both have more trust in us and but addresses them in the think we are capable of more than our rivals? same tonality: for Commerz- / bank, much is matter-of-course / which for others is quite the Based on a broad survey of various target exception. Commerzbank has groups in Germany, France and Italy, we surprisingly straightforward have identified two key points distinguishing solutions for apparently complex us from our competitors: our customers are problems. Our advertising identi- relatively well satisfied with Commerzbank. fies the problem and presents a Non-customers imagine that, as a “small” convincing, target-group-oriented major bank, we are more flexible, creative solution. and act more quickly than our competi- / tors. / / The motifs used as images in our / advertising – and which appear as The right positioning for Commerzbank illustrative material throughout this is, therefore: “Commerzbank is a cre- report – repeatedly show people in ative major bank. In an interactive situations that tell entire stories in relationship with customers and its combination with the headline. Ex- business associates, it offers the best citing, unusual, surprising and striking, financial services.” That is the starting but always in close touch with the point for all our advertising messages topic. We are the flexible bank which is and presentations. The core concept full of ideas in responding to customers’ “creativity” distinguishes us, for one wishes. The deliberate use of colour, thing, from our competitors and, for contrast and sharpness depicts reality another, it entails a promise. as more attractive and impressive than / it actually is. Small is made larger and the / normal more unusual. The campaign is Our slogan “ideas ahead” sums intended to make an impression; it should this up. It serves as a “heightened also polarize and arouse curiosity about translation” of the expectations Commerzbank. For we have ideas, and they placed in us and at the same get our customers ahead. time embodies what we offer customers by way of creative cooperation. It enhances the Bank’s attractiveness, makes it more sympathetic and arouses curiosity for its services. It has a motivating impact on staff, but also calls upon them to generate new ideas. contents Management report Survey of the Commerzbank Group 6 Corporate governance at Commerzbank 14 Retail banking and asset management 20 Corporate and investment banking 30 Staff and welfare report 40 Our share, strategy and outlook 46 Risk report 52 Financial statements of the Commerzbank Group 2003 Overview 80 Income statement 83 Balance sheet 85 Statement of changes in equity 86 Cash flow statement 88 Notes 90 Group auditors’ report 172 Report of the Supervisory Board 173 Boards, seats on other boards, Group managers, managers of branches and Group companies Supervisory Board 177 Central Advisory Board 179 Board of Managing Directors 180 Regional Board Members and CIO 182 Group managers 183 Managers of domestic main branches 184 Managers of larger corporates centres 184 Managers of foreign branches 185 Board of Trustees of Commerzbank Foundation 185 Managers of domestic Group companies 186 Managers of foreign Group companies 187 Regional Advisory Committees 188 Seats on other boards 201 Tables and charts Glossary 206 Index 211 Business progress 1968-2003 212 Front inside cover: Structure of the Commerzbank Group Back inside
Load more

Recommended publications
  • Ocabulary of Definitions : P
    Service bibliothèque Catalogue historique de la bibliothèque de l’Observatoire de Nice Source : Monographie de l’Observatoire de Nice / Charles Garnier, 1892. Marc Heller © Observatoire de la Côte d’Azur Février 2012 Présentation << On trouve… à l’Ouest … la bibliothèque avec ses six mille deux cents volumes et ses trentes journaux ou recueils périodiques…. >> (Façade principale de la Bibliothèque / Phot. attribuée à Michaud A. – 188? - Marc Heller © Observatoire de la Côte d’Azur) C’est en ces termes qu’Henri Joseph Anastase Perrotin décrivait la bibliothèque de l’Observatoire de Nice en 1899 dans l’introduction du tome 1 des Annales de l’Observatoire de Nice 1. Un catalogue des revues et ouvrages 2 classé par ordre alphabétique d’auteurs et de lieux décrivait le fonds historique de la bibliothèque. 1 Introduction, Annales de l’Observatoire de Nice publiés sous les auspices du Bureau des longitudes par M. Perrotin. Paris,Gauthier-Villars,1899, Tome 1,p. XIV 2 Catalogue de la bibliothèque, Annales de l’Observatoire de Nice publiés sous les auspices du Bureau des longitudes par M. Perrotin. Paris,Gauthier-Villars,1899, Tome 1,p. 1 Le présent document est une version remaniée, complétée et enrichie de ce catalogue. (Bibliothèque, vue de l’intérieur par le photogr. Jean Giletta, 191?. - Marc Heller © Observatoire de la Côte d’Azur) Chaque référence est reproduite à l’identique. Elle est complétée par une notice bibliographique et éventuellement par un lien électronique sur la version numérisée. Les titres et documents non encore identifiés sont signalés en italique. Un index des auteurs et des titres de revues termine le document.
    [Show full text]
  • RWE-Geschaeftsbericht-2011.Pdf
    geschäFtsbericht 2011 finanzKalenDer 2012 /2013 2011 geschäftsbericht eCKDaten 2011 auf einen bliCK. RWE • Hohe Ergebnisbelastung durch beschleunigten Kernenergieausstieg in Deutschland 19. April 2012 Hauptversammlung • Betriebliches Ergebnis: 5,8 Mrd. € • Dividendenvorschlag: 2,00 € je Aktie 20. April 2012 Dividendenzahlung • Erste Maßnahmen zur Stärkung der Finanzkraft umgesetzt • Prognose 2012: Betriebliches Ergebnis trotz Desinvestitionen auf Vorjahreshöhe 10. Mai 2012 Zwischenbericht über das erste Quartal 2012 RWE-Konzern 2011 2010 + /− in % 14. August 2012 Zwischenbericht über das erste Halbjahr 2012 Außenabsatz Strom Mrd. kWh 294,6 311,2 − 5,3 Außenabsatz Gas Mrd. kWh 322,2 395,4 − 18,5 14. November 2012 Zwischenbericht über die ersten drei Quartale 2012 Außenumsatz Mio. € 51.686 53.320 − 3,1 EBITDA Mio. € 8.460 10.256 − 17,5 5. März 2013 Bericht über das Geschäftsjahr 2012 Betriebliches Ergebnis Mio. € 5.814 7.681 − 24,3 Ergebnis vor Steuern Mio. € 3.024 4.978 − 39,3 18. April 2013 Hauptversammlung Nettoergebnis /Ergebnisanteile der Aktionäre der RWE AG Mio. € 1.806 3.308 − 45,4 Nachhaltiges Nettoergebnis Mio. € 2.479 3.752 − 33,9 19. April 2013 Dividendenzahlung Return on Capital Employed (ROCE) % 10,9 14,4 - Kapitalkosten vor Steuern % 8,5 9,0 - 15. Mai 2013 Zwischenbericht über das erste Quartal 2013 Wertbeitrag Mio. € 1.286 2.876 − 55,3 Betriebliches Vermögen (Capital Employed) Mio. € 53.279 53.386 − 0,2 14. August 2013 Zwischenbericht über das erste Halbjahr 2013 Cash Flow aus laufender Geschäftstätigkeit Mio. € 5.510 5.500 0,2 Investitionen Mio. € 7.072 6.643 6,5 14. November 2013 Zwischenbericht über die ersten drei Quartale 2013 In Sachanlagen und immaterielle Vermögenswerte Mio.
    [Show full text]
  • Financial Statements of RWE AG 2012
    2012Financial Statements of RWE AG FINANCIAL STATEMENTS OF RWE AG The financial statements and review of operations of RWE AG for the 2012 fiscal year are submitted to Bundesanzeiger Verlagsgesellschaft mbH, Cologne, Germany, the operator of the electronic Bundesanzeiger (Federal Gazette), and published in the electronic Bundesanzeiger. The review of operations of RWE AG has been combined with the review of operations of the RWE Group and is published in our annual report on pages 31 to 101 and pages 111 to 117. Balance Sheet 2 Income Statement 3 Notes 3 Dividend Proposal 20 Responsibility Statement 21 List of Shareholdings (Part of the Notes) 22 Boards (Part of the Notes) 47 Auditor’s Report 51 Financial Calendar 52 Imprint 53 2 Balance Sheet Balance Sheet at 31 December 2012 Assets (Note) 31 Dec 2012 31 Dec 2011 € million Non-current assets (1) Financial assets 42,440 39,246 Current assets Accounts receivable and other assets (2) Accounts receivable from affiliated companies 9,039 7,719 Accounts receivable from investments 1 Other assets 121 141 Marketable securities (3) 351 2,357 Cash and cash equivalents (4) 1,404 697 10,916 10,914 Prepaid expenses (5) 465 73 Deferred tax assets (6) 2,221 2,761 56,042 52,994 Equity and liabilities (Note) 31 Dec 2012 31 Dec 2011 € million Equity (7) Subscribed capital Common shares 1,474 1,474 Preferred shares 100 100 1,574 1,574 Less nominal value of treasury shares − 1 Capital issued 1,574 1,573 Capital reserve 2,385 2,385 Retained earnings Other retained earnings 4,870 4,737 Distributable profit
    [Show full text]
  • Inhaltsverzeichnis
    Nachlass EDUARD SCHÖNFELD (1828-1891) Inhaltsverzeichnis Bearbeitet von Anne Hoffsümmer und Lea Korb Bonn, 2017 – 2018 zuletzt aktualisiert am 09.09.2020 Eduard Schönfeld wurde am 22.12.1828 in Hildburghausen geboren, wo er bis zu seinem Abitur 1847 die Schule besuchte. Er war Kind einer jüdischen Familie, trat jedoch nach seinem Schulabschluss dem evangelischen Glauben bei. Auf Anraten seines Vaters studierte Schönfeld zunächst Bauwesen, entschied sich aber nach kurzer Zeit für die Naturwissenschaften und begann, in Marburg bei dem Gauß-Schüler Christian Ludwig Gerling unter anderem Astronomie zu studieren. Nachdem Schönfeld auf einer Reise nach Bonn Bekanntschaft mit Friedrich Wilhelm August Argelander gemacht hatte, entschloss er sich, das Studium der Astronomie 1852 in Bonn fortzusetzen. Dort erhielt er schon ein Jahr später eine Stelle als Assistent, durch die er die Möglichkeit erhielt, gemeinsam mit Adalbert Krüger an der bekannten „Bonner Durchmusterung“, Argelanders großem Projekt, mitzuwirken. Mit einer Abhandlung über die Bahnelemente des Kleinplaneten Thetis promovierte Schönfeld 1854. Seine Habilitation folgte drei Jahre später. Eduard Schönfeld zog 1859 nach Mannheim, um dort die Stelle als Direktor der Mannheimer Sternwarte anzutreten. In der Mannheimer Zeit widmete er sich unter anderem der Bestimmung der Positionen von Nebelflecken mithilfe des Ringmikrometer. Eduard Schönfeld war Mitbegründer und Vorstandsmitglied der Astronomischen Gesellschaft sowie lange Jahre ihr Schriftführer und Herausgeber der Vierteljahrsschrift. Nach Argelanders Tod im Jahr 1875 übernahm Schönfeld dessen Stelle als Direktor der Bonner Sternwarte und ergänzte die Arbeit zur Bonner Durchmusterung, indem er die Bereiche -2°- -23° der südlichen Deklination erforschte. 1883 wurde er Geheimer Regierungsrat und war 1887/88 Rektor der Universität Bonn.
    [Show full text]
  • US Wind Industry Threatened by Tax Credit Withdrawal
    THE ENERGY INDUSTRY March 2012 • Volume 5 • No 1 • Published monthly • ISSN 1757-7365 www.teitimes.com TIMES Renewable pursuits Smart response Final Word Minister Dr Farooq Abdullah The Energy Efficiency Directive can Junior Isles talks of explains why India’s renewable promote demand side management wind pains. targets are achievable. and help realise the smart grid. Page 13 Page 14 Page 16 News In Brief China faces import tariffs The trade dispute between China and the USA heats up as the US US wind industry government’s investigation draws to a conclusion. Page 4 NTPC ruling throws lifeline to flagging five-year plan India’s faltering 12th Five-Year threatened by Plan was given a boost after the National Thermal Power Company won a court order against a lawsuit challenging its tendering process. Page 6 tax credit French nuclear industry needs massive investment France will have to spend billions of euros to bring its nuclear energy fleet Martha Wyrsch urged up to tough new standards. an extension of the Page 8 withdrawal Production Tax Credit Germany accelerates FITs cuts Uncertainty surrounding support for With the withdrawal of a tax credit, the US wind industry is looking at a dramatic slowdown in renewable energy continued after the German government 2013. Junior Isles announced changes to its feed-in tariff scheme. The withdrawal of a tax credit for wind wind turbines. Vestas officials have power credit on behalf of Vestas “Wind energy has grown dramati- Page 9 power production at the end of the year been seeking a multi-year extension of American Wind Technology, which cally in the past several years, creating could result in massive layoffs and a the tax credit as a way to ensure future has four wind turbine plants in a manufacturing renaissance in the UNEP calls for sustainable delay or abandoning of projects.
    [Show full text]
  • Gas Market Liberalization As a Key Driver of Change of the European Gas Market and Its Influence on the Strategies of the Main Players
    CENTRE INTERNATIONAL DE FORMATION EUROPEENNE INSTITUT EUROPEEN DES HAUTES ETUDES INTERNATIONALES DIPLOME DES HAUTES ÉTUDES EUROPÉENNES ET INTERNATIONALES (D.H.E.E.I.) Trilingual Branch Gas market liberalization as a key driver of change of the European gas market and its influence on the strategies of the main players Master Thesis presented by: Roman Zyuzev Under the direction of: Nizar Ben Ayed, PhD Director DHEEI in charge of Anglophone branch Nice, May 2008 II Table of contents TABLE OF CONTENTS................................................................................................................................. II ABBREVIATIONS.........................................................................................................................................IV LIST OF FIGURES ......................................................................................................................................... V 1. INTRODUCTION.................................................................................................................................... 1 1.1 PROBLEM FORM ULATION................................................................................................................. 1 1.2 OBJECTIVE AND STRUCTURE OF THE PAPER ................................................................................... 3 1.3 USEFUL THEORETICAL APPROACHES AND M ETHODS FOR UNDERSTANDING AND ANALYZING THE EUROPEAN GAS M ARKET AND STRATEGIES OF ITS PLAYERS ......................................................................
    [Show full text]
  • 75 Jahre Dgmk
    75 JAHRE DGMK 75 Jahre DGMK Deutsche Wissenschaftliche Gesellschaft für Erdöl, Erdgas und Kohle e. V. (1933–2008) Von B.-R. ALTMANN* Die DGMK Deutsche Wissenschaftliche Ge- – Gemeinschaftsforschung schaftler eingeladen. So wurde dann schon sellschaft für Erdöl, Erdgas und Kohle e. V. – die Zusammenarbeit mit dem DIN Deut- im September 1933 der Name der Gesell- feiert am 22./23. Mai 2008 am Ort ihrer sches Institut für Normung e. V. bei der schaft in Deutsche Gesellschaft für Mineral- Gründung in Berlin ihr 75jähriges Beste- Mineralöl- und Brennstoffnormung ölforschung (DGM) geändert. hen. – die Mitwirkung an der Bearbeitung ande- Auf der Gründungsveranstaltung, an der 75 Seit ihrer Gründung fördert die Gesellschaft rer Technischer Regelwerke Personen teilnahmen, wurde Prof. Dr. L. Ub- Wissenschaft, Forschung, Technik und Wei- – die Förderung von Qualitätssicherung belohde, Karlsruhe, zum Vorsitzenden ge- terbildung auf den Gebieten: und Arbeitssicherheit. wählt, neben ihm war Dipl.-Ing. Gottfried – Aufsuchung, Gewinnung und Speicherung Zur Historie der Deutschen Wissenschaftli- Feder, MDR, der politische Verbindungs- von Erdöl und Erdgas chen Gesellschaft für Erdöl, Erdgas und mann zur Reichsleitung der NSDAP. Weiter – Verarbeitung und Anwendung von Mine- Kohle e. V.(DGMK) liegen bereits fünf um- bestand der Vorstand aus Prof. W. Schulz, ralöl, Erdgas und ihren Folgeprodukten fangreiche Veröffentlichungen über 30, 40 Clausthal, (1. stellv. Vors.), Dipl.-Ing. Al- – Petrochemie und 50 Jahre DGMK vor [1–5]. Daher wird fred Wirth, Berlin (2. stellv. Vors.),Reg. Rat. – Kohlenveredlung und Weiterverarbeitung in der folgenden Zusammenstellung über Dipl.-Ing. W. Deutsch, Berlin (Schrift- und von Produkten. den Zeitraum der ersten 50 Jahre der Kassenführer) und Dr.-Ing. Oscar Zaepke, Mit fast 1.800 Mitgliedern verfolgt die DGMK gestrafft berichtet.
    [Show full text]
  • Geschäftsbericht 2009 (PDF)
    Falzmarke Falzmarke Falzmarke Falzmarke Geschäftsbericht 2009 FINANZKALENDER 2010/2011 2009 Geschäftsbericht GROSSES ECKDATEN 2009 AUF EINEN BLICK. RWE 22. April 2010 Hauptversammlung BEWEGEN. • Alle Ergebnisziele erreicht • Nachhaltiges Nettoergebnis steigt um 5 % 23. April 2010 Dividendenzahlung • Akquisition des niederländischen Energieversorgers Essent Für unsere Kunden. • Dividendenvorschlag von 3,50 € je Aktie 12. Mai 2010 Zwischenbericht über das erste Quartal 2010 12. August 2010 Zwischenbericht über das erste Halbjahr 2010 RWE-Konzern 2009 2008 +/- in % Umsatz Mio. € 47.741 48.950 -2,5 11. November 2010 Zwischenbericht über die ersten drei Quartale 2010 EBITDA Mio. € 9.165 8.773 4,5 Betriebliches Ergebnis Mio. € 7.090 6.826 3,9 24. Februar 2011 Bericht zum Geschäftsjahr 2010 Ergebnis fortgeführter Aktivitäten vor Steuern Mio. € 5.598 4.866 15,0 Nettoergebnis Mio. € 3.571 2.558 39,6 20. April 2011 Hauptversammlung Nachhaltiges Nettoergebnis1 Mio. € 3.532 3.367 4,9 Return on Capital Employed (ROCE) % 16,3 17,2 – 21. April 2011 Dividendenzahlung Kapitalkosten vor Steuern % 9,0 8,5 – Wertbeitrag Mio. € 3.177 3.453 -8,0 12. Mai 2011 Zwischenbericht über das erste Quartal 2011 Betrieblich gebundenes Vermögen (Capital Employed) Mio. € 43.597 39.809 9,5 Cash Flow aus laufender Geschäftstätigkeit Mio. € 5.299 8.853 -40,1 11. August 2011 Zwischenbericht über das erste Halbjahr 2011 Investitionen Mio. € 15.637 5.693 174,7 In Sachanlagen Mio. € 5.913 4.454 32,8 10. November 2011 Zwischenbericht über die ersten drei Quartale 2011 In Finanzanlagen Mio. € 9.724 1.239 – Free Cash Flow Mio. € -614 4.399 – Zahl der in Umlauf befi ndlichen Aktien (gewichteter Durchschnitt) Tsd.
    [Show full text]
  • Annual Report of RWE AG 2014
    RWE ANNUAL REPORT 2014 ANNUAL REPORTANNUAL 2014 2014 KEY FIGURES AT A GLANCE • Operating result: €4.0 billion • Net income: €1.7 billion • Recurrent net income: €1.3 billion • Dividend proposal: €1 per share • Cash flows from operating activities: €5.6 billion RWE Group1 2014 2013 + /− % Electricity production billion kWh 208.3 218.2 − 4.5 External electricity sales volume billion kWh 258.3 270.9 − 4.7 External gas sales volume billion kWh 281.3 320.7 − 12.3 External revenue € million 48,468 52,425 − 7.5 EBITDA € million 7,131 7,904 − 9.8 Operating result € million 4,017 5,369 − 25.2 Income from continuing operations before tax € million 2,246 − 2,016 – Net income/RWE AG shareholders' share in income € million 1,704 − 2,757 – Recurrent net income € million 1,282 2,314 − 44.6 Return on capital employed (ROCE) % 8.4 10.6 – Weighted average cost of capital (WACC) before tax % 9.0 9.0 – Value added € million − 277 811 – Capital employed € million 47,711 50,646 − 5.8 Cash flows from operating activities of continuing operations € million 5,556 4,803 15.7 Capital expenditure € million 3,440 3,978 − 13.5 Property, plant and equipment and intangible assets € million 3,245 3,848 − 15.7 Financial assets € million 195 130 50.0 Free cash flow € million 2,311 960 140.7 Number of shares outstanding (average) thousands 614,745 614,745 – Earnings per share € 2.77 − 4.49 – Recurrent net income per share € 2.09 3.76 − 44.4 Dividend per share € 1.002 1.00 – 31 Dec 2014 31 Dec 2013 Net debt of the RWE Group € million 31,010 30,727 0.9 Workforce3 59,784 64,896 − 7.9 1 See notes on reporting on page 41.
    [Show full text]
  • Energy Resources in Germany 8
    ENERGY RESOURCES GERMANY 8 Energy Resources in Germany 8.1 Petroleum in Germany 8.1.1 Petroleum Deposits and Production History In the whole of Germany, only small volumes of crude oil are produced on an international scale, most of it in the Federal States of Schleswig-Holstein and Lower Saxony. However, the oil fi eld Mittelplate (Fig. 8.1) is a large oil fi eld even by international standards. Located in the North-Sea tidal fl at area off the coast of Schleswig-Holstein, it is the largest of pres- ently 44 productive oil fi elds in Germany. In 2007, it produced about 2.1 Mt of petroleum from Dogger sands at the margin of the Buesum salt dome. In total, this fi eld contributed more than 60 % of the total German petroleum production of 3.4 Mt. A large portion of the remaining annual production originates from a petroleum province in the West of the Emsland district which geologically belongs to the Lower-Saxony Basin. The start of pro- duction there occurred a long time ago. For example, the large anticlinal oil reservoir Rühle has been producing since 1949 from the Bentheim sandstone of the Lower Cretaceous. Typical traps are anticlinal structures, but also stratigraphic traps and unconformity traps (Fig. 8.1). Approximately a quarter of the petroleum production in Germany originates from Lower Cretaceous sandstone reservoirs and about two thirds of the production comes from Dogger-sandstones. In Germany, light oils with a density between 0.8 and 0.93 g/cm3 are being produced. The principal source rocks are of Lower Cretaceous and Lower Jurassic age.
    [Show full text]
  • World of Mining – Surface & Underground
    5 / 2012 Major overhaul of excavator 289 Editorial p. 296 World of Mining – Kohlekraftwerke – notwendig für die Energieversorgungssicherheit Surface & Underground Das modernste Braunkohlekraftwerk der Welt International Journal founded in 1902 Grevenbroich-Neurath mit einem Wirkungsgrad Former: Surface Mining, von 43 % wurde Mitte August 2012 feierlich in Be- Braunkohle & Other Minerals trieb genommen. Die dadurch bedingte Einsparung von 6 Mio. t CO2 pro Jahr liegt auf der Linie der Volume 64 (2012) Emissionshandelspolitik: Durch die Notwendigkeit Published bimonthly für Energieunternehmen, für den CO2-Ausstoß Be- No. 5 · September/October 2012 rechtigungen kaufen zu müssen, besteht ein Anreiz, ISSN 1613-2408 diesen zu vermindern. Dieser Anreiz wird in der © GDMB neuen Emissionshandelsperiode, die 2013 beginnt, Informationsgesellschaft mbH dadurch verstärkt, dass Energieunternehmen keine kostenlosen Zertifikate mehr erhalten. Dadurch sollen CO2-ärmere Kraftwerke initiiert werden. Das W. FRENZ ist hier vorbildlich gelungen. Publisher: Allerdings weisen Umweltorganisationen darauf hin, dass durch die Inbetriebnahme GDMB Informationsgesellschaft mbH eines neuen Braunkohlekraftwerks weiterhin CO ausgestoßen wird (FAZ vom 19. POB 1054 2 September 2012, S. 4). Aus eigentumsrechtlichen Gründen gilt dies notwendiger- 38668 Clausthal-Zellerfeld weise bis zur Amortisation der getätigten Aufwendungen und damit 30 Jahre; also bei Germany jetzt in Betrieb genommenen Kraftwerken über 2040 hinaus. Dieser CO -Ausstoß ist e-mail: [email protected] 2 damit
    [Show full text]
  • 9781402036439.Pdf
    THE MULTINATIONAL HISTORY OF STRASBOURG ASTRONOMICAL OBSERVATORY ASTROPHYSICS AND SPACE SCIENCE LIBRARY VOLUME 330 EDITORIALBOARD Chairman W.B. BURTON, National Radio Astronomy Observatory, Charlottesville, Virginia, U.S.A. ([email protected]); University of Leiden, The Netherlands ([email protected]) Executive Committee J. M. E. KUIJPERS, University of Nijmegen, The Netherlands E. P. J. VAN DEN HEUVEL, University of Amsterdam, The Netherlands H. VAN DER LAAN, University of Utrecht, The Netherlands MEMBERS J. N. BAHCALL, The Institute for Advanced Study, Princeton, U.S.A. F. BERTOLA, University of Padua, Italy J. P. CASSINELLI, University of Wisconsin, Madison, U.S.A. C. J. CESARSKY, European Southern Observatory, Garching bei München, Germany O. ENGVOLD, University of Oslo, Norway A. HECK, Strasbourg Astronomical Observatory, France R. McCRAY, University of Colorado, Boulder, U.S.A. P. G. MURDIN, Institute of Astronomy, Cambridge, U.K. F. PACINI, Istituto Astronomia Arcetri, Firenze, Italy V. RADHAKRISHNAN, Raman Research Institute, Bangalore, India K. SATO, School of Science, The University of Tokyo, Japan F. H. SHU, University of California, Berkeley, U.S.A. B. V. SOMOV, Astronomical Institute, Moscow State University, Russia R. A. SUNYAEV, Space Research Institute, Moscow, Russia Y. TANAKA, Institute of Space & Astronautical Science, Kanagawa, Japan S. TREMAINE, Princeton University, U.S.A. N. O. WEISS, University of Cambridge, U.K. THE MULTINATIONAL HISTORY OF STRASBOURG ASTRONOMICAL OBSERVATORY Edited by ANDRÉ H CK Observatoire Astronomique, Strasbourg, France A C.I.P. Catalogue record for this book is available from the Library of Congress. ISBN 10 1-4020-3643-4 (HB) ISBN 13 978-1-4020-3643-9 (HB) ISBN 10 1-4020-3644-2 (e-book) ISBN 13 978-1-4020-3644-6 (e-book) Published by Springer, P.O.
    [Show full text]