2 Segment information

The segment reporting of the Alpiq Group is based on the Group’s internal organisational and management structure and the internal financial information reported to the chief operating decision maker. The reportable segments under IFRS 8 consist of the three business divisions Switzerland, International and Digital & Commerce. The Executive Board evaluates each of these separately for the purpose of assessing performance and allocating resources. Segment results (EBITDA) are the key performance indicators used for internal management and assessment purposes at Alpiq. Besides energy procurement and production costs, operating costs comprise all costs of operations, including personnel and service expenses. No operating business segments have been aggregated in the presentation of reportable segments. The financial steering process within Alpiq will be set up along the value chain sourcing, trading, and supply. This will be implemented for the annual report 2023.

The internal organisational and management structure was adjusted in the first half of 2022. As a result, the international sales & origination business units were moved from Digital & Commerce to International, the Swiss sales & origination business unit from Digital & Commerce to Switzerland and the Swiss RES business units from International to Switzerland. Furthermore, the number of categories of exceptional items for reconciling the IFRS results to the alternative performance measures has been reduced so as to simplify the internal reporting. For more information, please refer to the explanations in the “Alternative performance measures of Alpiq” section of the Financial Review. Previous-year segment reporting for the first half of 2021 has been adjusted for comparability. In addition, the segment information for the period ended 30 June 2021 was adjusted due to an error. For more information, please refer to note 1. As a result of all these effects, the Alpiq Group’s EBITDA before exceptional items for the first half of 2021 increased by CHF 3 million from CHF 80 million to CHF 83 million.

The business divisions’ results are carried over to the Alpiq Group’s consolidated figures by including the units with no market operations (Group Centre & other companies), Group consolidation effects as well as other reconciliation items presented in a separate column. The latter comprises shifts of CHF 6 million (previous year: CHF 6 million) between external net revenue and other income due to the difference in account structures between internal and external reporting. This column also contains foreign currency effects from using other average exchange rates in management reporting than pursuant to IFRS. Group Centre & other companies includes the financial and non-strategic investments which cannot be allocated directly to the business divisions as well as activities of the Group headquarters, including Alpiq Holding Ltd. and the functional units.

1 sthalf-year 2022: Information by business division

CHF million

Switzerland

Interna- tional

Digital & Commerce

Group Centre & other companies

Consoli- dation

Reconcili- ation

Alpiq Group

Net revenue from third parties

– 829

3,706

3,123

11

 

9

6,020

Inter-segment transactions 1

1,172

128

78

– 7

– 1,364

1

8

Exceptional items 2

77

– 15

781

 

 

– 2

841

Net revenue before exceptional items

420

3,819

3,982

4

– 1,364

8

6,869

Net revenue

343

3,834

3,201

4

– 1,364

10

6,028

Other income

9

– 8

14

11

– 8

– 6

12

Total revenue and other income before exceptional items

429

3,811

3,996

15

– 1,372

2

6,881

Total revenue and other income

352

3,826

3,215

15

– 1,372

4

6,040

Operating costs

– 236

– 3,813

– 3,868

– 59

1,372

– 2

– 6,606

Exceptional items 2

– 161

 

 

 

 

 

– 161

EBITDA before exceptional items

32

– 2

128

– 44

0

0

114

EBITDA

116

13

– 653

– 44

0

2

– 566

Depreciation, amortisation and impairment

– 32

– 20

– 3

– 4

 

 

– 59

EBIT

84

– 7

– 656

– 48

0

2

– 625

Number of employees at 30 June

166

379

309

377

 

 

1,231

1 The net effect of CHF 8 million results from currency effects on intragroup energy transactions.

2 Includes effects from fair value changes of energy derivatives that were entered into in connection with hedges for future power production, from the performance of the fund shares for the decommissioning and waste disposal of Kernkraftwerk Gösgen-Däniken AG and Kernkraftwerk Leibstadt AG, as well as from onerous contracts. For more information, please refer to the explanations in the “Alternative performance measures of Alpiq” section of the Financial Review.

1 sthalf-year 2021: Information by business division (adjusted)

CHF million

Switzerland

Interna- tional

Digital & Commerce

Group Centre & other companies

Consoli- dation

Reconcili- ation

Alpiq Group

Net revenue from third parties

19

1,475

1,144

9

 

7

2,654

Inter-segment transactions

363

33

280

– 10

– 666

 

0

Exceptional items 1

12

22

11

 

 

– 1

44

Net revenue before exceptional items

394

1,530

1,435

– 1

– 666

6

2,698

Net revenue

382

1,508

1,424

– 1

– 666

7

2,654

Other income

19

17

1

11

– 7

– 6

35

Total revenue and other income before exceptional items

413

1,547

1,436

10

– 673

0

2,733

Total revenue and other income

401

1,525

1,425

10

– 673

1

2,689

Operating costs

– 284

– 1,547

– 1,364

– 26

673

 

– 2,548

Exceptional items 1

– 95

 

– 8

 

 

1

– 102

EBITDA before exceptional items

34

0

64

– 16

0

1

83

EBITDA

117

– 22

61

– 16

0

1

141

Depreciation, amortisation and impairment

– 31

– 27

– 4

– 4

 

 

– 66

EBIT

86

– 49

57

– 20

0

1

75

Number of employees at 30 June

159

401

326

366

 

 

1,252

1 Includes effects from fair value changes of energy derivatives that were entered into in connection with hedges for future power production, from the performance of the fund shares for the decommissioning and waste disposal of Kernkraftwerk Gösgen-Däniken AG and Kernkraftwerk Leibstadt AG, as well as from onerous contracts. For more information, please refer to the explanations in the “Alternative performance measures of Alpiq” section of the Financial Review.

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