Annual Report 2020

Management Report

Management Report of Alpiq Holding Ltd.

Alpiq Holding Ltd. is the holding company of the Alpiq Group. It holds, directly or indirectly, all investments in Alpiq group companies. In addition, the company ensures a significant portion of financing within the Group.

Alpiq Holding Ltd. (UID no. CHE-369.267.193) was founded as Alpha 2020 Ltd. on 31 March 2020. On 24 June 2020, the Annual General Meeting of the former company Alpiq Holding Ltd. (UID no. CHE‑100.032.288) approved the squeeze-out merger with Alpha 2020 Ltd. proposed by the Board of Directors. Following the approval resolution passed at the Extraordinary General Meeting of Alpha 2020 Ltd. on the same day, the former company Alpiq Holding Ltd. was merged as the transferring company into Alpha 2020 Ltd. with retroactive effect from 1 January 2020, assuming all assets and liabilities at their previous carrying amount. On the same day, Alpha 2020 Ltd. was renamed Alpiq Holding Ltd.

Alpiq Holding Ltd.’s income primarily comprises dividends and interest income from subsidiaries. In the 2020 and 2019 financial years, the effects in connection with the sale completed in 2018 of the direct interest in Alpiq InTec AG and the interest held in Kraftanlagen München GmbH by the direct interest in Alpiq Deutschland GmbH were also included. On 22 December 2020, Alpiq and Bouygues Construction reached an out-of-court settlement. The arbitration proceedings, which were simultaneously initiated by both parties on 12 February 2019, therefore came to an end. For more information about this matter, please refer to note 5 of the notes to the financial statements of Alpiq Holding Ltd. Alpiq Holding Ltd. does not have any employees, nor does it have any research or development activities. The company did not distribute dividends in the reporting period.

Alpiq Holding Ltd.’s risk management is integrated into the Group-wide risk management system of the Alpiq Group. Risks identified are assessed individually based on their probability of occurrence and scope of potential losses. Appropriate measures are defined for the individual risks. Risks are systematically collected and updated once a year. The risk situation and the implementation of the measures defined are monitored. The Board of Directors of Alpiq Holding Ltd. addresses the topic of risk management at least once a year. Please refer to note 3.1 of the notes to the consolidated financial statements for explanations on Group-wide risk management at the Alpiq Group.

Alpiq Holding Ltd. will continue to act as the holding company of the Alpiq Group in the 2021 financial year.