2009 Financial Highlights

Comparison with prior year pro forma financial statements

Alpiq Group

1 Average number of full-time equivalents.
	% Change 2008 – 2009 (based on CHF)	2008 CHF million	2009 CHF million	2008 EUR million	2009 EUR million
Energy sales (TWh)	4.4	129.600	135.248	129.600	135.248
Net revenue	– 7.4	16,013	14,822	10,090	9,816
Energy	– 7.8	13,828	12,756	8,713	8,448
Energy Services	– 5.1	2,242	2,127	1,413	1,409
Profit before interest, tax, depreciation and amortisation (EBITDA)	– 5.0	1,627	1,545	1,025	1,023
Depreciation and amortisation	– 0.2	– 480	– 481	– 302	– 319
Profit before interest and tax (EBIT)	– 7.2	1,147	1,064	723	705
As % of net revenue		7.2	7.2	7.2	7.2
Group profit for the year	– 7.7	732	676	461	448
As % of net revenue		4.6	4.6	4.6	4.6
Net capital expenditure	– 1.5	1,204	1,186	759	785
Total equity	7.9	7,346	7,930	4,947	5,344
As % of total assets		38.5	39.5	38.5	39.5
Total assets	5.4	19,073	20,099	12,844	13,544
Employees 1	3.9	10,233	10,629	10,233	10,629
Plus trading in standardised products
In TWh	35.7	265.206	359.760	265.206	359.760
In CHF / EUR million	39.9	18,513	25,896	11,665	17,150

The basis of preparation of the pro forma financial statements for 2008 is explained on pages 54 and 55.

Per share data 1
1 No per share data based on quoted market prices are available for the prior year pro forma financial statements.
2 To be proposed to the Annual General Meeting on 22 April 2010.
	2009 CHF
Par value	10
Share price at 31 December	430
High	567
Low	328
Net profit	25
Dividend 2	8.70