BKW Energie AG

BKW General Meeting
BKW drives change in a difficult environment

BKW General Meeting / BKW drives change in a difficult environment
BKW AG once again presented a strong set of results to shareholders at its General Meeting for the 2015 financial year.

Bern (ots) - BKW AG once again presented a strong set of results to shareholders at its General Meeting for the 2015 financial year, despite the current challenges in the energy sector. BKW is treating the changes as an opportunity, taking an entrepreneurial approach and actively helping to shape the energy system. Rapid implementation of the strategy is also playing a crucial role.

BKW once again posted very strong results for 2015, with operating profit at CHF 382 million and net profit at CHF 284 million. Cash flow reached a new record and net debt, which was already low, was further reduced. But BKW is not immune to the effects of the extremely challenging environment and continued low energy prices: revenue from the energy business fell by CHF 400 million last year alone. This shows how important it is that BKW took pioneering decisions early on and is systematically implementing its strategy, which is based on three fields of business: energy, networks and services.

Contributing to social and technological change The energy supply system is in a state of upheaval all over the world. BKW recognised this early on and is playing a key role in this social change. "We're part of a global mega-trend and want to play a part in shaping it," said Urs Gasche in his address. At BKW this change is reflected in the increasing importance of renewable energies and the growing service business. In the 2015 financial year, revenue from the service business grew by 34 per cent and operating profit by 53 per cent. Commenting on this result, CEO Suzanne Thoma said: "BKW is on a journey from being a traditional energy supplier to becoming a vertically integrated energy and infrastructure service provider".

General Meeting resolutions

Shareholders approved the management report, the consolidated financial statements and the annual financial statements for 2015 and took note and approved the 2015 remuneration report. The members of the Board of Directors were also granted full discharge for the 2015 financial year. The dividend of CHF 1.60 per share and the maximum total remuneration for the Board of Directors and Group Executive Board for 2016/2017 were also approved.

A smaller Board of Directors

In addition, the General Meeting elected the members of the Board of Directors for the next term of office. All existing members who were standing for re-election were elected for an additional term. Paul-Albert Nobs was also elected as a new member of the Board. Mr Nobs holds a degree in electronic engineering from EPFL and has been Director General of Cremo AG since 1995 and a member of the Groupe E Board of Directors since 2011. He succeeds Dominique Gachoud who did not stand for re-election. Vice Chair Kurt Rohrbach also stepped down. The Canton of Bern decided to appoint only one delegate to the Board of Directors, meaning Executive Councillor Beatrice Simon-Jungi is no longer a member. The BKW Board of Directors therefore now has eight members. The Board thanked the departing Board members for their valuable contribution to BKW.  

The presentations by Chairman Urs Gasche and CEO Suzanne Thoma, as well as the General Meeting results, are available at http://www.bkw.ch/ga2016

Visit the BKW website to watch a review of the 2015 financial year in the form of a web log (available in German and French only). http://www.bkw.ch/tagebuch2015

The 2015 Annual Report can be downloaded as a PDF from the Download centre: - 2015 Annual Report http://www.bkw.ch/fileadmin/user_upload/4_Ueber_BKW/Downloadcenter/UEber_BKW_Gruppe/Geschaeftsbericht_2015_en.pdf - 2015 Facts & figures http://www.bkw.ch/fileadmin/user_upload/4_Ueber_BKW/Downloadcenter/UEber_BKW_Gruppe/2015_Fakten_en.pdf

Hear what BKW CEO Suzanne Thoma has to say about the 2015 financial year here. http://www.bkw.ch/ueber-bkw/unser-unternehmen/investor-relations/geschaeftsbericht-2015/#c3365

Disclaimer

The statements contained in this press release constitute expectations and forward-looking statements. Because these statements are subject to risks and uncertainties, actual future results may differ from those expressed or implied by the expectations and statements. This press release is issued in German, French, English and Italian. The German version is authoritative.

BKW

The BKW Group is a Bern-based international energy and infrastructure company employing some 4,500 people. The diversity of the company's expertise allows it to offer its customers a full range of tailored services. The Group plans, builds and operates infrastructure to produce and supply energy to businesses, households and the public sector. The BKW Group offers a wide range of services, from building technologies, infrastructure engineering and digital business models for renewable energies to traditional multi-utility infrastructure services.

The registered shares of BKW AG are listed on the SIX Swiss Exchange and the BX Berne eXchange.

Contact:

Sabrina Schellenberg
media@bkw.ch
058 477 51 07



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