Annual Report 2020

Proposal of the Board of Directors

Proposal of the Board of Directors

Appropriation of retained earnings

The Board of Directors proposes to the Annual General Meeting to allocate the retained earnings as follows:



Gain on merger with Alpiq Holding Ltd. (UID n° CHE-100.032.288)


Net income for 2020 reported in the income statement

– 119,857,413

Retained earnings




Dividend of CHF 1.40 per share

– 46,354,510

Transfer to statutory revenue reserves

– 170,000

Balance to be carried forward


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