GETEC GROUP

Transcription

GETEC GROUP

GETEC GROUP
A N N UAL
REP O RT
2 015
GETEC GROUP
E FFI C I E N C Y I S O U R B U S I N ES S M O D E L .
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KEY FIGURES
NUMBER OF EMPLOYEES
2015
2014
1,165
980
OVER ALL PERFORMANCE
million euro
798.2
721.2
ANNUAL PROFIT BEFORE TA X
million euro
40.0
33.3
EQUIT Y CAPITAL
million euro
187.5
165.4
40.0%
44.3%
EQUIT Y R ATIO
A N N UAL
REP O RT
2 015
D
TA B L E O F CO N TEN TS
E FFI C I E N C Y: D O I N G T H I N G S R I G H T.
P E
T E R
F E R
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D
R U
C K
E R *
FOREWORD
6
PROJ EC TS
10
G E T E C H E AT & P O W E R A G
PUT TIN G ON TH E PRESSU RE
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GETEC EN ERGI E AG
PIONEERING SPIRIT
16
GETEC N ET AG
COM MUNIT Y SPIRIT
20
G E T EC G REEN EN ERGY AG
G R EEN P OT EN T I A L
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G E T E C WÄ R M E & E F F I Z I E N Z A G
T H E C L I M AT E I S T H E W I N N E R
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GETEC M ED IA AG
W E L C O M E TO T H E F U T U R E
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SOCIAL RESPONSIBILITY
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A G O O D MOVE
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M ANAGEM ENT REPORT AND
F I N A N C I A L S TAT E M E N T S
42
GETEC GROUP
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G R O U P C O N S O L I D AT I O N
70
G RO U P OVERVI EW
A N D L O C AT I O N S
72
F I N A N C I A L S TAT E M E N T S
OF THE SUBGROUPS
74
G E T E C H E AT & P O W E R A G
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GETEC EN ERGI E AG
82
GETEC N ET AG
88
G E T EC G REEN EN ERGY AG
94
10 0
GETEC M ED IA AG
10 6
IMPRINT
112
5
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FOREWORD
FOREWORD
One of the main strengths of the GETEC
companies and the GETEC workforce is
the ability to identify and react flexibly to
industry developments and market changes early on and to consistently develop the
right answers and suitable solutions for
GETEC’s clients. We are navigators in an
increasingly complex energy environment.
A glance on the framework conditions of
the past fiscal year illustrates the need for
these special skills of the GETEC GROUP
of companies.
Energy markets continue to experience
turbulence. Major distortions on the energy markets and policies that are unable
to safeguard stable and reliable framework
conditions cause a major burden for consumers and companies in Germany.
The transition toward renewable energies
is compulsory based on climate policies,
and a heavy price was paid for it via the
mechanism stipulated in the Renewable
Energy Sources Act (EEG). Because of
the sector amalgamation postulated by
the Federal Ministry of Economy, the abnormal developments on the electricity
markets that can no longer be ignored
are expected to escalate further.
Energy efficient, work place-generating
decentralised supply strategies such as
the combined heat and power generation
are being cut back in favour of new industrial-scale technologies such as offshore
wind power. The energy policy framework
conditions in Germany continue to be
hampered by legislative disparities and
inconsistencies.
GETEC ENERGIE HOLDING GmbH GETEC heat & power AG GETEC ENERGIE AG GETEC net AG GETEC green energy AG GETEC WÄRME & EFFIZIENZ AG GETEC media AG
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This has caused significant problems in
the energy industry, particularly among
major established players. Innovative
medium-sized energy service providers
such as GETEC are more likely to be able
to master these challenges. For instance,
the companies of the GETEC GROUP were
again able to boost their sales volume and
income in this difficult market environment in the past year, because they act
quickly and in a flexible manner, consider
changes to be an opportunity and continue promoting technical and administrative
innovations.
rience within the company group. That’s
efficiency too – and that’s what we do on
a daily basis.
Our actions are guided by a vision that
keeps the companies of the GETEC
GROUP on track to success and growth
in spite of the difficult framework conditions: efficiency. This does not only relate
to ultra-efficient technologies such as the
energetic exploitation of specialty gases
or the optimisation of significant ancillary
cost areas for the real estate industry, but
in particular to focused, targeted actions
based on excellent know-how and customer-oriented structures.
With the acquisition of Imtech Contracting
GmbH in August 2015, now called GETEC
Contracting GmbH, we have not only
expanded our investment portfolio, but
incorporated additional strong expertise
in the field of energy service contracting into the GETEC GROUP, and thereby
solidified our claim as market leader for
energy service contracting. This year, we
intend to successfully complete the integration of the new business into GETEC
heat & power AG and GETEC WÄRME &
EFFIZIENZ AG. The company’s previous
headquarters remain in Osnabrück and
will be expanded further.
The secure and cost-efficient availability of energy is an important locational
factor for many of our customers. The
competitiveness of many companies is
often dependent on the economic viability, the environmental protection and
the resource conservation – in short, the
efficiency of the energy supply. Our vision
of efficiency is going one step further: We
achieve economic benefits for our customers by developing innovative solutions
and sustainable concepts, utilising the
positive effects of the energy legislation
and by consolidating know-how and expe-
The GETEC GROUP continued expanding
its business activities in 2015. The subgroups GETEC heat & power AG, GETEC
ENERGIE AG, GETEC net AG, GETEC
green energy AG, GETEC WÄRME &
EFFIZIENZ AG and GETEC media AG have
further developed established business
models and conquered new markets, and
thus solidified the foundation for further
growth and economic success.
By taking over the supply of heat to the
City of Turek, GETEC heat & power AG
has set foot onto the Polish market; in
addition to Germany, it is now active in
five European countries. With the innovative thermal oil system set up at the
Haltermann Carless Deutschland GmbH
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FOREWORD
chemical company, our industrial specialist has successfully broken technical
ground and produced a masterpiece when
it comes to innovation and efficiency.
GETEC heat & power AG is currently developing a method for transforming heat,
which will be ready to be launched on
the market shortly. Its purpose is again
to boost energy efficiency in the production process. For us, efficiency also means
providing customers with services from
a single source. GETEC heat & power AG
is broadening its portfolio considerably in
this respect: In the future, we plan to offer
all services for the operation of energy
intensive industrial parks under the label
GETEC Infra. This likewise relates to the
leveraging of resources, the creation of
synergies and the identification and improvement of energy efficiency potentials.
Our energy trading firm GETEC ENERGIE
AG is developing innovative projects to
safeguard tomorrow’s energy supply:
The largest 2nd use battery bank in the
world to date is currently being built in
the Westphalian city of Lünen. A joint venture between Daimler AG, The Mobility
House AG and GETEC ENERGIE AG will
operate it on the premises of REMONDIS
SE and market it on the German primary
balancing energy market. Special about
this approach is the economic utilisation
of used electric vehicle batteries, which
are given a second life in the stationary
battery bank after having been used in
an electric vehicle. In Lünen, they will be
combined to a total capacity of 13 MWh.
Fluctuations in the power grid can be balanced with smart energy storage systems.
FOREWORD
Other storage projects are in preparation.
This is an active contribution to the energy
transition.
GETEC net AG, whose core business is
the operation of areal networks and metering services, is increasingly focusing
on the network infrastructure design.
Since early 2015, we have been working
on the cross-border power cable project
between the Netherlands and Germany.
GETEC net AG is also expanding its business activities within Germany: For the
first time, we are involved in a communal
utility, which safeguards a state-of-the art,
efficient and reasonably priced range of
energy services in addition to communal
services of general public interest. The
communal utility Gemeindewerk Seegebiet Mansfelder Land GmbH was established in cooperation with other partners.
GETEC net AG will be tasked with the
commercial management of this company. On behalf of the communal utility,
it has already been awarded the contract
for operating the communal power grid
in the Mansfelder Land district.
With the inauguration of ten wind power
stations at the former military airport in
Zerbst in late 2015, GETEC green energy
AG has completed the energy park Zerbst
and transformed into an energy transition
showcase project. The wind turbines were
set up in cooperation with Siemens AG
and are generating a combined power
output of up to 30 megawatts. GETEC
has already set up one of the largest solar
parks in Germany and a biorefinery on the
converted spaces. As a result, three types
of renewable energy are combined in a
single location, namely biomethane, solar
and wind energy. In addition to increased
research and development activities in
the field of renewable energies, the topic
of battery banks will play a major role at
the Zerbst location in the future. The goal
is to establish and operate a large bank
as early as this year, in cooperation with
partners. In addition, there are plans for
a project aimed at converting CO2 into
useful energetic materials.
In its capacity as comprehensive ancillary cost optimiser, GETEC WÄRME &
EFFIZIENZ AG is expanding its portfolio with metering services. For this
purpose, it has established the GETEC
MESSDIENST GmbH subsidiary, which
specialises in particular in the compilation of a precise and reliable heating and
ancillary cost statement. After the strategic partnership with Deutsche Wohnen
AG, additional cooperations in the real
estate industry were established in 2015.
GETEC WÄRME & EFFIZIENZ AG together
with its subsidiary Bayernwärme GmbH
now supplies all properties of the GBW
GROUP in Southern Germany. Energie
für Schleswig-Holstein GmbH is another
recently established partnership; it is a
joint venture of GETEC and wankendorfer
Baugenossenschaft für SchleswigHolstein eG. Thus, the foundation has
been laid for further growth with innovations and new products, such as for
example with tenant’s decentralised energy supply or smart meter technologies.
With SYNVIA, we have created an end
user brand for the first time. GETEC
media AG provides tenants with television,
internet and telephone services via its cable network, while GETEC home GmbH
as a subsidiary of GETEC WÄRME &
EFFIZIENZ AG additionally supplies electricity. The SYNVIA brand was developed
to bundle energy and telecommunication
products into a single all-in-one package. During the set-up of the customer
service and the product and process
development, we consistently pursued
the “everything from a single source”
approach. We are harnessing the expertise of the GETEC GROUP of companies
for the creation of synergies and for the
efficient use of existing resources.
We owe our success to these efficient
and innovative solutions in all business
activities of the GETEC GROUP.
The GETEC GROUP achieved a considerable boost in sales and earnings in the past
fiscal year. Losses in sales and earnings
as a result of warm weather and continuously declining energy prices have been
overcompensated. The turnover rose by
12.1% from 698.3 million euros to 782.6
million euros. With an increase of 20.3%
to 40.0 million euros, the profit before
tax experienced an even slightly greater
boost. The capital resources have likewise
improved. The group is capitalised well,
with equity capital in the amount of 187.5
million euros.
GETEC is on solid footing. We are as
diversified as never before. We strive to
expand successful, established business
models and shape future markets. The
creativity and innovative minds of our
highly qualified workforce will allow us to
continue blazing a trail, develop efficient
solutions for our customers and master
the challenges associated with the transition toward renewable energies.
with our full commitment and dedication.
On the following pages, you will learn
what is driving us and how the vision of
efficiency controls our every-day actions.
Magdeburg, 30 May 2016
We are still committed to and continue the
intensive pursuit of our social responsibilities: The on-site day-care is now fully operational and the large number of “GETEC
children” enrolled in it indicate that the
decision to establish and support the
childcare centre was the right thing to do.
The same is true for the early extension
of the main sponsorship of the handball
club SC Magdeburg. It is a successful
team in the first federal league – and has
recently won the German Handball (DHB)
cup – thereby creating a strong identity-promoting effect for the people living
in the region. Just recently, we extended
the contract to secure the name rights
in the GETEC arena, the home venue of
our handball team, for five more years. In
addition, we are sponsoring a number of
other small- and large-scale, cultural and
social projects as well as popular sports.
Efficiency is the guiding topic of our annual report. According to Peter Ferdinand
Drucker, it means: doing things right.
That’s precisely what we do, with our services, innovations and the vision toward
new business activities and markets. We
consider challenges to be opportunities
and act as partner of our customers. You,
our customers and business partners,
have again shown us your confidence in
the past several years. We would like to
thank you for this and for the fruitful cooperation and at the same time see it as an
incentive to keep earning this confidence
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Dr. Karl Gerhold
Managing Director & Shareholder
GETEC ENERGIE HOLDING GmbH
GETEC GROUP
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PROJECTS
PROJECTS
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GETEC heat & power AG
HOW TO PLAN, FINANCE AND
REALISE HIGH EFFICIENCY
PROJECT
Energy production plant, Speyer
P R O J E C T PA R T N E R
Haltermann Carless Deutschland GmbH
The chemicals company Haltermann Carless Deutschland
GmbH stores and handles naphtha (crude petroleum). This
creates vent gas in the storage tanks. With its C 4 /C 5 -hydrocarbons, this breathing gas has a high calorific value, but its
heating value fluctuates. On behalf of Haltermann Carless in
Speyer, Germany, GETEC heat & power AG has taken on the
challenging task of utilising this hitherto untapped potential
and developing an integrated energy concept that is efficient
and protects resources and the environment.
PUTTING ON
THE PRESSURE
REDUCING COSTS, PROTECTING THE
ENVIRONMENT, SECURING THE LOCATION
GETEC heat & power AG GETEC ENERGIE AG GETEC net AG GETEC green energy AG GETEC WÄRME & EFFIZIENZ AG GETEC media AG
The expertise of one of the leading European manufacturers
of speciality chemicals and solvents, testing and reference
fuels, printing ink oils and high-purity hydrocarbons and
the expertise of the innovation leader in the development
of customised energy supply concepts is combined in this
joint project between Haltermann and GETEC. The alliance
has resulted in a highly efficient, unique industrial heating
system tailored to the specific needs of the company. It was
ceremoniously inaugurated in September 2015.
“We put the company’s energy supply on a new footing and
in doing so laid the foundation for a 15-year partnership,”
emphasises Volker Schulz, CEO of GETEC heat & power.
GETEC put together a customised, innovative and comprehensive package for its customer in Speyer: The services the
contracting specialist from Magdeburg provides range from
the development of the supply concept through financing,
planning, construction of the system to service and maintenance. GETEC supplies the required heat on the basis of
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PROJECTS
PROJECTS
a heat supply contract. In addition to remote monitoring
of the system from GETEC’s control room in Magdeburg,
the system is also monitored on site from a control panel
in Speyer. This enables specialists to respond quickly to
error messages. In addition, the on-site service is secured
by GETEC Industrieservice GmbH.
The heart of the investment in Speyer is the thermal oil system: The production process requires thermal oil at a constant high temperature level. Two natural gas fired boilers
with a nominal heat output of 8.65 megawatts each heat
the oil to 340 degrees Celsius and feed it directly to the
consumers in production. In addition, a steam generator
heated indirectly with thermal oil provides up to 13 tonnes
of saturated steam per hour at a pressure of 21 bar. “By using state-of-the-art burner technology, we were able to integrate the previously unused vent gas into the combustion
process of the thermal oil system. The process gas is used
to generate heat – safely and environmentally and resource
friendly. This technical solution is unique so far,” says Volker
Schulz, highlighting the ingenuity of the engineers.
Thermal post-combustion of vent gas is thus a thing of the
past. The heating oil previously used as support fuel is no
longer needed. The calorific value of the process gas is significantly lower than that of natural gas, but it still ensures a
noticeable reduction in natural gas consumption at Haltermann Carless. “The resulting cost savings and lower environmental impact are important locational and competitive
factors for an energy-intensive chemicals company,” explains
Volker Schulz.
By outsourcing the complex tasks of creating an energy
supply system, the well-established firm Haltermann, a subsidiary of the internationally active HCS Group, is able to
focus entirely on its core expertise of creating high-purity chemical products for the automotive, pharmaceutical,
cosmetics, printing, laboratory chemicals, electronics and
plastics processing industries.
“All of our energy concepts are as unique as the conditions
at our customers and the project goals we implement for
our partners,” says Schulz. “With every new order we rise
to the challenge of taking visionary approaches and using
our expertise and skills to explore new paths.”
The market leader in energy service contracting with its
vast experience in developing comprehensive energy concepts for the chemicals industry aims at stepping up its role
as a service provider of complete solutions for chemical
parks. The service portfolio of “GETEC Infra” includes comprehensive solutions for wide-area supply of industrial and
chemical parks. Here GETEC is not only responsible for the
optimised energy supply, but also for related services pertaining to network infrastructure, site protection, logistics
and infrastructure as well as the management of the entire
site. Water supply and waste water disposal are also part
of the portfolio with which GETEC is further expanding its
expertise in the industry sector.
The project also involved the construction of a boiler room
in which all the metering and control equipment and auxiliary units are housed. The central power plant was created on
the perimeter of the plant site and new lines were installed
for the steam and thermal oil supply on site. Only 15 months
past from the signing of the contract to commissioning. The
thermal oil system was built in four months.
Pierre Hörler, director of sales and authorised signatory of GETEC heat & power AG, on the occasion of the start-up of the thermal
oil system.
NUMBER O F EMPLOY EES 337
T URN OV ER IN 2015 EUR 254.5 million
C O RE BUS INES S
Energy supply solutions for industry, complex large properties and communities at
home and abroad, implementation into energy service contracting or as EPC/general
contractor, takeover of large heating and cogeneration systems, energy efficiency
projects, procurement optimisation
B OA RD O F D IRE C TO RS
Volker Schulz, Dipl.-Ing.
Hans-Marcus Knoll, Dipl.-Ing. (FH)
C O N TAC T
[email protected]
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PROJECTS
PROJECTS
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GETEC ENERGIE AG
EFFICIENT
BATTERY STORAGE SOLUTIONS
WITH CUTTING-EDGE
POTENTIAL
PROJECT
Second-use battery bank, Lünen
Daimler AG, The Mobility House AG,
REMONDIS SE & Co. KG
The focus of the German economy and the federal government on the transition toward renewable energies and the
associated efficient resource utilisation is steadily increasing.
For instance, one of the goals is a massive incentivisation of
the use of electric vehicles. But the question arises about the
afterlife of the batteries from these vehicles. Discard them?
Recycle them? Are there any other possible and economically
feasible uses for them?
PIONEERING
SPIRIT
UTILISING KNOW-HOW, RELIEVING
NETWORKS, SAVING FEES
GETEC ENERGIE HOLDING GmbH GETEC heat & power AG
GETEC ENERGIE AG GETEC net AG GETEC green energy AG GETEC WÄRME & EFFIZIENZ AG GETEC media AG
In cooperation with the companies Daimler AG, The Mobility
House AG and REMONDIS SE & Co. KG, GETEC ENERGIE
AG is in the process of realising an ultra-efficient battery
storage project in Lünen/Westphalia, which is considered a
cutting-edge component in the transition toward renewable
energies. “We have developed and realised an economically
and ecologically worthwhile solution for the use of battery
storage systems – entirely without public subsidies,” says
Bernward Peters, CEO of GETEC ENERGIE AG, in response
to the question about the economically sensible usability.
For this project, Daimler subsidiary Deutsche ACCUmotive
GmbH & Co. KG is building stationary energy storage units
from used electric car battery systems. In all, nearly 1,000 of
these systems with a total capacity of approximately 13 MWh
are being used. As they are designed for the demanding use
in automobiles, the energy storage units meet strict safety
and quality requirements. The technically ultra-complex control system and the battery management were redeveloped
jointly by the partners for this project.
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PROJECTS
The company Enbase Power GmbH, a joint enterprise of
Daimler and Coulomb GmbH, is responsible for the set-up of
the system. Coulomb in turn is a joint venture of The Mobility
House AG and GETEC ENERGIE AG. The Mobility House AG
is considered a pioneer in the field of innovative charging and
storage solutions for electric mobility and has been involved
for some time in the development of technologies for mobile
and stationary clustered storage units from vehicle batteries.
GETEC ENERGIE AG is also contributing its expertise. Moritz
Matthies, Director of Business Development, refers to the
procedures outlined in the “White Paper” and to the fluctuating power supply from renewable energies, which requires all participants in the energy market to be increasingly
flexible. He explains the company’s role as follows: “Simply
put, we can use the battery storage system for example to
stabilise the power grid, that is, to balance fluctuations in the
power grid and to maintain the frequency.” To achieve this,
adequately pre-qualified participants feed energy into the
grid or store energy from the grid in the primary balancing
energy market. The transmission network operator pays a
fee for the generated flexibility.
The battery storage project in Lünen is progressive – including for GETEC’s customers. For this reason, experts at
GETEC have long been studying additional possible uses.
“The grid utilisation prices paid by our electricity intensive
industrial and multi-site customers is an interesting aspect
in this context,” explains Moritz Matthies. “This storage unit
allows us to relief the grid in case of bottlenecks. The lower
the peak power consumption is during the on-peak time,
the greater are our customers’ savings in network usage
fees.” Peak shaving represents a further savings potential,
because peak power consumption incurs considerable electricity costs over the span of a year. Batteries help prevent
these peaks, thereby saving costs. “As for power stations,
the system additionally offers the possibility of a self-contained start in case of a power outage,” Matthies points out.
As a result, the possible uses are very diverse and can be
customised to meet the customer’s needs.
Jointly with Coulomb GmbH, GETEC ENERGIE AG bundles its
know-how for the planning, establishment and management
of battery storage units. Stefan Ritter, managing director of
Coulomb GmbH is convinced that “the battery storage system
can be operated economically from the start.” According to
Ritter, this is due not least to the many years of experience
in the market and the specialist know-how of all parties involved in the project. “It is obviously more cost-efficient to
work with used systems than to use new storage units,” he
emphasises. What’s more, this helps improve the environmental balance of electric vehicles. Other projects with used
as well as new systems are already in the planning phase.
The project partners have already solved the question with
regard to recycling. Once the batteries have in fact reached
the end of their life, they will be recycled by the partner
company REMONDIS, which is in the possession of the 2 nd
use battery storage unit on its premises. However, the involved companies are certain that it will be at least another
ten years until this happens. That’s the projected current
lifetime of lithium ion batteries.
Moritz Matthies, head of Business Development at GETEC ENERGIE AG, pays a visit to the second-use battery bank.
C O RE BUS INES S
Energy supply, energy marketing, marketing of balancing energy,
energy trading, direct marketing, processing services for energy
providers
Bernward Peters, Dipl.-Kfm.
Christian Holtmann, Dipl.-Kfm.
Götz-Friedrich Wedde, Dipl.-Kfm.
C O N TAC T
[email protected]
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PROJECTS
PROJECTS
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GETEC net AG
HOW A COMMUNAL UTILITY
CAN BENEFIT THE COMMUNITY,
CITIZENS, COMPANIES AND
THE ENTIRE REGION
PROJECT
Communal power grid,
Seegebiet Mansfelder Land district
Communal utility Gemeindewerk Seegebiet
Mansfelder Land GmbH
This idea is appealing: A modern, citizen-oriented community is not only focused on the communal concerns of its
residents and companies, it also strives to provide a stateof-the art, efficient and economical energy supply and thus
to achieve a typical win-win situation for its citizens and the
community alike.
COMMUNITY
SPIRIT
GOOD IDEAS, EFFICIENT STRUCTURES,
MANY ADVANTAGES
GETEC ENERGIE HOLDING GmbH GETEC heat & power AG GETEC ENERGIE AG
GETEC net AG GETEC green energy AG GETEC WÄRME & EFFIZIENZ AG GETEC media AG
A utopian vision? Not at all. A so-called communal utility
committed to achieving precisely these goals is being set up
in the Seegebiet Mansfelder Land community in Saxony-Anhalt, which has nearly 10,000 residents. Its key actors are the
community, the company ROMONTA AG headquartered in
the community and GETEC net AG.
In the 1980s and 1990s, municipal utilities in many places
were divested in their entirety or in parts, usually for the purpose of reorganising the communal budgets. A trend toward
recommunalisation has emerged some ten years ago, which is
obviously also backed by financial considerations. Aside from
the concession levy, it is particularly the profits generated
by the network operation that may play a significant role.
The community has established the communal utility Seegebiet Mansfelder Land GmbH as a wholly-owned communal
limited liability company. GETEC net AG will be tasked with
the commercial management of this company. The advantage
for the community: It can initially start without its own workforce, since all responsibilities will be taken care of by GETEC
net AG as defined in the corresponding service agreements.
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PROJECTS
The core business of GETEC net AG is the operation of socalled area networks. There are currently more than 110 area
networks throughout Germany, which GETEC net AG is in
charge of. The infrastructure of an area network is planned,
set up and operated independently of the upstream network
operator. This applies in equal measure to the on-site transmission lines as for example to the switchboard plants and
the transformers used to convert the supplied electricity into
the required voltage. The required electricity (public medium
high voltage network, between 10 and 30 kV as necessary)
is taken over from the upstream network operator at the
supply terminal, while everything else on-site is part of the
area network (private medium high/low voltage network,
10 kV/0.4 kV).
The area network of ROMONTA AG has been part of the
networks set up and operated by GETEC for many years.
ROMONTA is the world’s largest producer of crude montan
wax. The wax has been extracted in Amsdorf, a village that
today is part of the Seegebiet Mansfelder Land, for almost 100
years. The communal utility and thus its customers will benefit
from experience with the technical operation, the network
planning and the network expansion by its own workforce
at ROMONTA AG.
PROJECTS
advantages, which are reflected in a lower price for using
the network. ROMONTA will equally benefit from the cooperation. Heiko Mevert, chair of the GETEC net AG executive
board: “The further development of the site can be planned
and realised alongside the goals of the communal utility. The
energy generation units at the site can supply the region
with energy on a priority basis as a so-called virtual electric
power station.” Not least, this also contributes significantly
to the move towards alternative energy, namely to the development of decentralised efficient generation structures,
smart networks and metering systems.
However, the growing incorporation of renewable (wind,
photovoltaics) and decentralised (cogeneration unit) energy
generation is not only beneficial for the environment. The
regional value creation is broadened significantly, for example
with the combined heat and power generation, with renewable raw materials or with a greater stake in the local trade.
These are additional positive arguments for the customers of
the communal utility, enabling its presence on the electricity
market not merely as an inexpensive supplier. The establishment of an own electricity brand boosts the customer’s identification with “his/her” communal utility, thereby ultimately
also making a valuable contribution to the communal budget.
Andreas Bork (on the right), project manager of GETEC AREALNETZ GmbH, discusses the details for the control station of the communal
utility with Matthias Amt of ROMONTA AG.
C O RE BUS INES S
Electricity and gas network operation, area networks, closed
distribution networks, meter operation, network services
Heiko Mevert, Dipl.-Ing.
Dr. Karl Gerhold
Olaf Beyer, Dipl.-Ing. (FH)
A technical connection with ROMONTA AG’s existing area
network will be established to achieve an optimal and efficient
supply of the new communal utility. Particularly the connection of the ROMONTA area network to the high voltage level
provides the communal utility customers with considerable
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C O N TAC T
[email protected]
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PROJECTS
PROJECTS
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GETEC green energy AG
THE ENERGY PARK IN ZERBST
IS SETTING THE BENCHMARK
FOR ALL THINGS RELATED TO
FUTURE TECHNOLOGY
PROJECT
Energy park, Zerbst
Siemens AG
The rise in renewable energies creates growing fluctuations
in the power grids. Still, it is possible to stabilise the grids by
means of renewable energies. GETEC green energy AG combines renewable energies and state-of-the art technologies
to develop these potentials – to achieve a resource-friendly,
affordable and safe energy supply. With the development
of an energy park on the 400 hectare site of the former
military airport in Zerbst (Saxony-Anhalt), the company has
created excellent conditions to study future technologies
and master the challenges associated with the transition to
renewable energies.
GREEN
POTENTIAL
RENEWABLE ENERGY, STABLE NETWORK,
NO CONTRADICTION
GETEC ENERGIE HOLDING GmbH GETEC heat & power AG GETEC ENERGIE AG GETEC net AG
GETEC green energy AG GETEC WÄRME & EFFIZIENZ AG GETEC media AG
GETEC green energy AG had laid the foundation for a comprehensive utilisation concept with open-space photovoltaic
systems. The solar park established in 2011 was followed
in 2014 by a biorefinery and in 2015 by the launch of a wind
park and additionally the set-up of a transformer substation.
196,000 photovoltaic modules with an installed overall capacity of 46 MWp, 10 directly powered low-wear, low-loss and
low-noise Siemens wind energy systems with an installed
output of 30 MW and a biorefinery with a generated gas
power of approx. 7 MW (3 MW electrical power) have been
combined into a green, three-component power station in
Zerbst.
When the energy park was first set up, the focus was on
the efficiency of the energy production, but as it is being
upgraded, topics such as the capability of a self-contained
start, balancing energy and storage technologies are be-
26
PROJECTS
coming increasingly important. The target is to store 25% of
volatile power by 2025 – and GETEC green energy AG board
member Chris Döhring is strongly committed to reaching this
benchmark. “We are already generating a storage medium
with biomethane,” says Döhring, “in 2016, we will collaborate
with the city of Zerbst/Anhalt to simulate how our biomethane
can help supply power to sensitive areas such as hospitals
or nursing homes in extreme situations, and then restore
the frequencies and gradually reconnect customers to the
grid.” This simulation of a blackout is designed for other sites
to learn from the gathered insights. It may be possible to
maintain the power supply of hospitals in Magdeburg during
extreme situations in the future with the support from the
Niederndodeleben biorefinery; the Elsteraue biogas plant
would be relevant for the chemical park at that location and
the city of Hadmersleben is likewise expected to rely on the
power of a biogas plant set up by GETEC.
The combination of three types of renewable energies and
the co-operations with the Fraunhofer Institute for Factory
Operations and Factory Automation as well as the technology partner Siemens AG creates the breeding ground in the
energy park of Zerbst, which strategies for grid stability and
energy safety can thrive on. It has been proposed to build
a large storage battery in the near future, for harnessing
excess wind and solar power. Electrolysis for the production
of hydrogen is another topic relating to a variety of possible
uses. If necessary, hydrogen can be converted back into
electricity or used for methane synthesis together with the
carbon dioxide from the biorefinery or supplied to the chemical industry. Excess carbon dioxide from the biorefinery in
turn can be used for the production of hydrocarbons and
other basic chemicals.
PROJECTS
local companies; as partners of the biorefinery, agricultural
companies gain a competitive edge for the sale of corn, grass
silage and beet chips. Among other animals, bats and insects
benefit from the compensation measures aimed at protecting
nature; an herb garden and a nature trail have been established. GETEC, the city of Zerbst/Anhalt, the company VHS
Bildungswerk GmbH and the grammar school Francisceum in
Zerbst are jointly breathing life into the information centre and
the meeting place in the energy park. Volunteers are pouring
their heart and soul into the preparation of children’s parties,
guided tours and school projects on renewable energies.
Chris Döhring considers the energy park of Zerbst to be a
pilot project that demonstrates the exemplary management
of conversion areas and a regional development that is beneficial for all parties involved with long-term partnerships.
This can also serve as an example for the revitalisation of
mining landscape reclamation projects in the energy region
of central Germany, Döhring points out.
In the future, the company also plans to use its know-how for
decentralised energy projects in other countries. Concepts
intended for example for vacation islands are in demand,
enabling them to achieve a self-sustaining supply to the
greatest possible extent and to considerably reduce their
reliance on oil tankers, by harnessing hydroelectric power,
fermenting waste products, solar and wind energy, combined
with cogeneration plants and energy storage, depending on
the local circumstances. “We develop creative and flexible
solutions that are tailored to the regional needs and requirements,” says Chris Döhring.
C O RE BUS INES S
Regenerative energy generation, site development, fuel and substrate
management, plant design, implementation and operation
The energy park of Zerbst achieves a unique link between
economic viability, climate protection and regional development. The city of Zerbst/Anhalt and the region benefit from
it: Conversion areas were harnessed again and redesigned;
construction work was and is assigned predominantly to
Marcel Schöbel, project manager and authorised signatory of GETEC green energy AG, is responsible for the development and
realisation of the energy park Zerbst project.
Chris Döhring, Dipl.-Ing.
C O N TAC T
[email protected]
27
28
PROJECTS
PROJECTS
29
GETEC WÄRME & EFFIZIENZ AG
LARGE-SCALE PROJECTS WITH
THE REAL ESTATE INDUSTRY
HELP REVITALISE THE LINE
OF BUSINESS
PROJECT
Strategic partnerships in
the real estate industry
GBW Group, Bayernwärme GmbH
THE CLIMATE
IS THE WINNER
LUCRATIVE ALLIANCES, OPTIMISED SYSTEMS,
COLLECTIVE SUCCESS
GETEC ENERGIE HOLDING GmbH GETEC heat & power AG GETEC ENERGIE AG GETEC net AG GETEC green energy AG
GETEC WÄRME & EFFIZIENZ AG GETEC media AG
Nearly 70% of all heating installations are considered outdated and inefficient – the refurbishment back-log in German
boiler rooms is detrimental to the environment and to the
tenants’ ancillary cost payments. With strategic partnerships,
GETEC WÄRME & EFFIZIENZ AG relieves companies in the
real estate industry of the necessary investments into their
heat generation and consolidates the tasks ranging from
plant optimisation to the service charge statement. Alliances
that enable all parties to benefit – real estate companies,
their tenants and the service provider – are established in
this fashion. Resources are protected and carbon dioxide
emissions reduced.
The first major project of this kind was launched in 2014 with
the establishment of the joint venture G+D Gesellschaft für
Energiemanagement mbH by GETEC and the real estate firm
Deutsche Wohnen AG headquartered in Berlin. Within the
scope of this cooperation, almost 1,000 plants were added to
the previous inventory of nearly 1,000 energy supply plants
for residential districts, hospitals and nursing homes overseen
by GETEC, which have since been analysed and gradually
adapted to the latest state of technology.
Another major project was sealed in southern Germany in
2015: GETEC subsidiary Bayernwärme GmbH has started to
bundle the heat generation of all properties owned by the
GBW group comprising 30,000 apartments. In the medium to
long term, nearly 800 central heating plants will be taken over,
analysed and optimised for the Bavarian real estate company.
30
PROJECTS
“One of the considerable advantages of this long-term cooperation is that we focus on the entire portfolio, including all
beacons and laggards. That’s how we gradually optimise the
entire plant inventory,” explains Jochen Schmitt, director of
the GETEC branch office in Munich and managing director
of the company Bayernwärme.
Not only is energy efficiency a compulsory prerequisite for
climate protection and an important factor for the successful
outcome of the move towards alternative energies. Heat
generation using state-of-the art plant engineering and smart
controls likewise increases the appeal of residential districts,
because the greater efficiency has a stabilising effect on
the development of the heating costs over the medium and
long term. By reducing the resource consumption and CO 2
emissions, real estate companies can continue working on
their positive sustainability reports and use the improvements
in climate protection for successful marketing purposes.
Particularly impressive results are achieved with the combination of sustainable construction and renovation using
innovative heat generation concepts. GETEC engineers
develop customised solutions for each object. The energy
modernisation with increasing surface areas in the GBW real
estate inventory represents a special challenge. As apartments as well as areas to erect new buildings are scarce in
major urban centres in southern Germany such as Munich,
Nuremberg, Regensburg and Würzburg, some of the buildings are not only remodelled but at the same time built up
with the addition of storeys or expanded with extensions into
the inner courtyards. GETEC develops innovative strategies
that incorporate solar thermal systems, near-surface geothermal energy, biomass or cogeneration systems into the
overall conceptual design in an economical and technically
feasible fashion that is suitable for the buildings and their
surroundings.
PROJECTS
31
these strategic partnerships help us to keep growing with
the real estate industry,” says Michael Lowak, spokesperson
of the GETEC WÄRME & EFFIZIENZ AG board. “Our technical know-how and our wealth of experience enable us to
evaluate and analyse major portfolios very quickly. We are
familiar with the market, the energy management and legal
framework conditions and we speak the same language as
our partner companies.”
Our services range from facility design and modernisation
concepts to financing, operation and maintenance, metering services, vacancy management to uniform as well as
incontestable service charge statements – with guaranteed
transparency and high data quality. “Housing associations
enjoy a considerable lawsuit cost advantage and are relieved
of many responsibilities, enabling them to dedicate more
time to their core business,” Michael Lowak points out. It is
not surprising that an ever greater number of medium- and
larger-sized housing associations are discovering and hoping
to use the advantages of these alliances, by having a trusted
contact on their side for all topics related to energy and heat.
Energie für Schleswig-Holstein GmbH, a joint venture of
GETEC and wankendorfer Baugenossenschaft für Schleswig-Holstein eG is another strategic partnership. It consolidates the oversight of 300 heat generation plants. “We are
ready to take on more portfolios,” says Michael Lowak. The
foundation for further growth has been laid on the fields of
heat supply contracting, ancillary cost optimisation, metering
services as well as with product innovations in the Intelligent
Home sector. “Efficiency is our business and a boon for the
environment.”
C O RE BUS INES S
Energy supply concepts for the real estate and housing industry, area properties, implementation into energy
service contracting, purchase optimisation, service/maintenance packages, plant operation optimisation, meter
operation, comprehensive ancillary cost optimisation for real estate portfolios
Michael Lowak, Dipl.-Ing.
Heike Zembrod, Dipl.-Ing.
Markus Stoll
“We managed to attract another major customer in southern
Germany, and this is very important to us. We hope that
Jochen Schmitt, head of the GETEC branch office in Munich and managing director of Bayernwärme GmbH, checks whether the system
is functioning optimally.
C O N TAC T
[email protected]
32
PROJECTS
PROJECTS
33
GETEC media AG
THE FUTURE OF LIVING,
TODAY – DEUTSCHE WOHNEN AG
AND GETEC ESTABLISH AN
INNOVATIVE PARTNERSHIP
PROJECT
Outfit and supply of a newly built
property with internet, telephony,
television, Potsdam-Babelsberg
Deutsche Wohnen AG
“We build structures designed for long-lasting acceptance,
where tenants like to live and which achieve low operating
and maintenance costs.” This is the mission statement of
Deutsche Wohnen AG for the realisation of its first new
building in years in Potsdam-Babelsberg. In its function as
strategic service provider partner, GETEC media AG is also
on board with the new project, supplying tenants with interesting perspectives with regard to telephony, television
and internet among other things.
Deutsche Wohnen AG manages close to 150,000 apartments throughout Germany. Because the number of vacant
apartments is insufficient particularly in urban areas and
the influx into the metropolitan areas continues unabated,
the real estate company decided to erect a new building in
Potsdam-Babelsberg. The project was started in 2014. It is
divided into three phases of construction and consists of
more than 100 apartments, with a total living space of almost
9,000 square metres.
WELCOME
TO THE FUTURE
An existing L-shaped building of Deutsche Wohnen was
closed during the first construction phase. The old residential
complex for railway employees built in 1928 was remodelled
at the same time. The overarching theme is efficiency and
sustainability. Deutsche Wohnen proudly states that more
than 70% of its residential units consume less energy than
the average of all residential buildings in Germany. The new
buildings in Potsdam-Babelsberg will be certified with the
German Sustainable Building Council [Deutsche Gesellschaft
ALL-ROUND SERVICE, DURABLE
STRUCTURES, LOW COSTS
GETEC ENERGIE HOLDING GmbH GETEC heat & power AG GETEC ENERGIE AG GETEC net AG GETEC green energy AG GETEC WÄRME & EFFIZIENZ AG
GETEC media AG
34
PROJECTS
für Nachhaltiges Bauen (DGNB)] quality seal, thereby achieving the gold standard.
The line of products and services offered by GETEC media
AG in Potsdam-Babelsberg is equally modern. The new buildings are equipped with state-of-the-art telecommunication
infrastructure. The buildings feature fibre optic cables that
currently provide an internet bandwidth of 240 Mbit/s.
The end user brand SYNVIA welcomes the new residents
with the slogan “A clever combination of the best”. “SYNVIA
represents the new form of smart living in Germany: the
perfect combination of electricity, gas, television, internet
and telephone – everything simple and convenient from a
single source.”
Markus Stoll, GETEC media AG board member: “SYNVIA
provides customers with tailor-made and forward-looking
solutions.” The appropriate service can be selected depending
on the needs. Most customers will be particularly intrigued
by the variety of possible combinations of telephony, HD
TV and internet. For example, the range of internet services
starts with a download bandwidth of 20 MBits per second
and ranges to a download bandwidth of up to 240 MBits
per second.
PROJECTS
The options with respect to TV channels are equally diverse.
The cable connection offering a large number of programmes
is already included in the rent. Customised packages such as
e.g. private HD programmes can be added to the included
49 HD and 103 SD channels.
However, GETEC goes one step further with SYNVIA. Aside
from the complete range of media services with TV, telephony and internet, the options in Potsdam-Babelsberg also
include for example an attractive power supply. In line with
the sustainability commitment of Deutsche Wohnen AG, one
hundred percent green power is available.
“The possibilities for a smart home are obviously far from
exhausted,” explains Stoll. “Our state-of-the-art technical
infrastructure and our corresponding technological know-how
are prerequisites for smart meter solutions. This may involve
the measurement of the energy consumption as well as for
example the remote control of the heating facilities in order
to optimise the energy and cost efficiency of the systems.”
Bernd Juppe, Head of Sales and Marketing during the inspection of the core technical components of the new building.
C O RE BUS INES S
Setup and operation of telecommunications and broadband network
infrastructures, provision of multimedia services such as internet, telephone,
radio and television, smart metering
Markus Stoll
C O N TAC T
[email protected]
GETEC media AG
35
GETEC GROUP
38
39
FROM TRAINEESHIPS TO
ELITE SPORTS – GETEC’S
INVOLVEMENT RADIATES
BEYOND CITY BORDERS
As a successful company in the state capital Magdeburg,
GETEC is pleased to give back to the region: as an investor
in child care, as sponsor of the Magdeburg handball team,
as partner for young chess players or by backing an association that provides special needs artists with the opportunity to freely develop their talents. GETEC contributes to
success – both on a small and large scale.
A GOOD
MOVE
ACCEPTING RESPONSIBILITIES, FOSTERING
TALENTS, PROMOTING COMPANIONSHIP
The GETEC day-care centre in the state capital Magdeburg,
immediately adjacent to the GETEC headquarters, offers
plenty of space for creative bundles of energy. It was inaugurated on 1 April 2014 as a joint project of the state capital Magdeburg, the investor GETEC and the humanitarian
organisation Johanniter-Unfall-Hilfe e.V. as an independent
supporter. It is a building with bright colourful façades,
large dark glass window panes and moveable walls allowing
the flexible set up of usable space along with a large outdoor area featuring a playground, sand pits and a scooter
track: feel-good conditions for 80 children, enough space
for romping around, climbing and playing.
Half of the 80 spaces is reserved for children of GETEC employees. “It feels good to know that the children are well taken
care of and a short distance from the office to the day-care
centre saves parents time every day. This has a positive effect
on the work-life balance,” says Dr. Karl Gerhold, managing director and shareholder of GETEC ENERGIE HOLDING GmbH.
A miniature wind power plant and a small photovoltaic plant
erected on the premises of the child-care centre are evident
40
associations with the energy service provider. Children
learn energy-saving behaviour hands-on, and the “House
of young researchers” provides a first exposure to scientific
experiences.
“Our goal is to help children understand and explore their
world and expand their creativity,” explains Ines Knoll, head
of the day-care centre. With this aim, the employees embrace the principles of the Reggio Emilia approach, to help
them understand the “hundred languages of the children”,
that is, their diverse abilities to express themselves.
Fun learning activities lead to success: The chess club
Schachzwerge Magdeburg e.V. teaches 400 children and
adolescents the game of chess with a hands-on and age-appropriate approach. Some of them are now playing the
game at the federal level. And as the Royal Game promotes
the ability to concentrate and perform as well as strategic
thinking skills, the children equally benefit from this hobby
at school. GETEC has been supporting the club since 2012.
In addition, the atrium of the office building served as venue
for the second federal chess league, squad East for the first
time in February.
Energy and sports are interconnected. GETEC is demonstrating this by being a partner of the SCM handball team,
which in 2015 played its 25th federal league season. For the
time being, the energy service provider plans to continue its
support as main sponsor until 2018. GETEC has secured the
naming rights in the home game venue until 2021. In addition, the company is supporting the SCM YoungsterS and
the sports bowling club Rot-Weiß Zerbst, whose first men’s
team in 2015 won its 11th championship title.
Many GETEC employees are very energetic and athletic too.
Their participation in the corporate relay of Magdeburg is
supported with entry fees and jerseys. 16 teams were at the
start in 2015; a greater number than ever before. “GETEC –
more energy is impossible” was the slogan printed on the
jerseys of the 80 sprinters. It was a promise that was honoured at the target mark, after five times three kilometres.
The GETEC I men’s team celebrated their fourth triumph in
a row while the GETECINNEN I women’s team was on the
winner’s podium for the first time.
with pulmonary hypertension are not undergoing surgery
in a timely manner, their pulmonary vascular system is exposed to increased pressure and gravitational forces for a
prolonged period of time. The vessels are altered and adhesions develop. GETEC extends financial support to the
KinderHerz foundation for the establishment of a centre for
pulmonary hypertension in childhood at the Paediatric Research Centre of the Medical University of Hanover (MHH),
where novel diagnostic and therapeutic procedures can be
used.
On the occasion of the GETEC company group’s CEO’s
birthday at the turn of the year, GETEC employees raised
more than 4,400 euros for a good cause. Dr. Karl Gerhold
determined the medical relief organisation “action medeor”
to be a worthy recipient. The relief organisation provides
medicines to more than 10,000 health posts and hospitals
in 120 countries, organises health education as well as relief
campaigns for refugees.
A stately sum of 30,000 euros was raised on the occasion of
the reception for the 65th birthday of GETEC’s founder. This
amount has been earmarked for the elaborate glazing of
the 13 metre high Gothic windows of the Johannis Church
in Magdeburg. Artist Professor Max Uhlig of Dresden will
paint a cycle consisting of seven abstract grapevines for the
sanctuary as well as a monumental colourful landscape for
the south side of the nave. The sum of 1.3 million euros has
to be raised from donations and subsidies alone.
Gerhard Andres, member of the GETEC WÄRME & EFFIZIENZ
AG supervisory board, has also raised money on the occasion
of his birthday and appointment into the supervisory board.
He donated a check in the amount of 5,038 euros to the artist’s guild Zinnober. “It is my heartfelt wish to support Zinnober and to help the artists financially,” said Andres. The
artist’s guild Zinnober in Magdeburg provides special needs
adults with the opportunity to freely express their talents,
without any rules, educational constraints or therapeutic
goals, in an atelier with a size of 130 square metres. GETEC
has been supporting this guild for 15 years. Each year at the
time of GETEC’s summer party, Zinnober launches a new
exhibit, which is on display in the corridors and rooms of
GETEC’s head office in Magdeburg for an entire year.
Children diagnosed with heart disease or pulmonary hypertension lack the energy to run, climb and frolic. If patients
GETEC’s day-care offers many opportunities for adventures and discoveries.
41
GETEC GROUP
44
M ANAGEMENT REPORT
GETEC
GROUP MANAGEMENT REPORT
FOR THE
FISCAL YEAR
2015
M ANAGEMENT REPORT
BASIS
OF THE GROUP
The GETEC GROUP comprises six subsidiaries including
financial interests under the umbrella of the parent company
GETEC ENERGIE HOLDING GmbH. The operational entities
cover the entire range of energy services. As well as energy
service contracting models and engineering services from
GETEC heat & power AG (Magdeburg) which are primarily for
industry and large, complex properties, and GETEC WÄRME &
EFFIZIENZ AG (Magdeburg) for property management, these
also include energy services from GETEC ENERGIE AG
(Hanover), network and meter operation from GETEC net AG
(Hanover) and renewable energies, which are covered by
45
GETEC green energy AG (Magdeburg). With the establishment
of GETEC media AG (Magdeburg) in 2014, the GETEC GROUP
added telecommunication services for the real estate industry to its portfolio in the summer of 2015. Thus, the GETEC
GROUP offers additional innovative all-round services that
cover energy supply and telecommunications services for
residential properties on the market.
Through its subsidiary VERITAS GmbH (Magdeburg), in
August 2015 GETEC ENERGIE HOLDING GmbH acquired
the company Imtech Contracting GmbH headquartered
in Osnabrück, whose name has been changed to GETEC
Contracting GmbH (Osnabrück) in the meantime and which
will be incorporated into the group in 2016.
GETEC ENERGIE HOLDING GmbH*
GETEC
heat & power AG
GETEC
ENERGIE AG
GETEC
net AG
GETEC
green energy AG
GETEC
WÄRME &
EFFIZIENZ AG
GETEC
media AG
›Energy supply
concepts for the
industry, municipalities and large
complex properties
at home and abroad
›Energy supply
›Electricity and gas
network operation
›Regenerative
energy production
›Area networks
›Site development
›Closed distribution
networks
›Energy supply
strategies for the
real estate and
housing industry
›Setup and
operation of
multimedia network
infrastructures
›Fuel and substrate
management
›Meter operation
›Free TV, pay TV,
radio
›Plant design
›Implementation
into energy service
contracting
›Network services
›Implementation
and operation
›Ancillary cost
optimization
›Implementation
into energy service
contracting
›Takeover of major
heating and cogeneration systems
›Energy efficiency
projects
›Procurement
optimisation
›Energy trading
›White labelling
›Marketing of
electricity from
wind energy plants
›Battery storage
projects
›Procurement
of structured
products
›Supply optimisation
›Internet, telephone,
mobile telephony
›Smart metering
›Intelligent Home
›Service/maintenance packages
›Optimisation of
plant operation
›Meter operation
›Intelligent Home
* T he GETEC GROUP additionally includes VERITAS GmbH and its associated company GETEC Contracting GmbH (formerly Imtech Contracting GmbH),
which was acquired by GETEC in August 2015 and is being incorporated into the group over the course of 2016.
46
M ANAGEMENT REPORT
M ANAGEMENT REPORT
ECONOMIC REPORT
MACROECONOMIC SITUATION
ECONOMIC DEVELOPMENT
IN GERMANY
DEVELOPMENT
OF THE ENERGY SECTOR
The growth of the global economy declined over the course of
the 2015 fiscal year. This was particularly noticeable in newly
industrialised countries. The persistent economic slowdown
in China is one of the main reasons for the sluggish growth.
Russia and Brazil slid into recession during the fiscal year.
The economic situation in the USA has stabilised after a weak
start to the year and the country has modestly increased the
key interest rate for the first time in almost 10 years. The
American dollar is expected to strengthen in 2016, with the
growth rates remaining only at a moderate level.
The German economy enjoyed solid economic growth in
2015. After a dynamic development during the first six
months, the upward trend of the German business activity
decreased slightly in the second half of the year. With an
increase in the gross domestic product by 1.7% in 2015,
the German growth was somewhat better than in the previous year. The continuing positive situation on the labour
market with rising employment and a favourable earnings
development is the reason for the stable domestic economic
development. This means Germany remains the major growth
driver in the euro zone.
The energy sector in 2015 was, once again, very much characterised by the Energiewende, Germany’s energy transition.
The transition toward renewable energies still emphasises
on giving up nuclear energy by 2022, on boosting energy
efficiency and on increasing considerably the proportion of
renewable energies in the energy mix, in order to ultimately
achieve a greenhouse gas reduction. To this end, the federal
government continues to advocate abandoning the generation of power from coal by 2040. Consequently, there is an
even stronger focus on the expansion of renewable energy
sources. In so doing, energy policies are characterised by
frequently changing regulatory framework conditions, thereby
creating uncertainties in the energy industry and hampering
long-term plans.
The European economy recovered to a small degree in 2015.
At 1.5%, the gross domestic product rose slightly more during the reporting year than in the previous year (0.9%). The
stabilisation is essentially the result of a stronger domestic
economic development, labour market stimulation as well
as decreased energy prices. According to the Kiel Institute
for the World Economy, the rising trend in economic activity
in Europe is expected to continue in 2016, and the gross domestic product is also forecast to rise by 1.5% in the current
year, in spite of the political uncertainties.
The expansive monetary policies on the European level are
projected to continue. The Council of the ECB has confirmed
this projection in March 2016, with several decisions aimed
at relaxing the monetary policies. The already historically
low key interest rate was reduced from 0.05% to 0.00%, the
negative interest rate on deposit accounts was lowered from
-0.3% to -0.4%, the volume of monthly bond purchases was
increased by 20 billion euros to 80 billion euros and broadened to include corporate bonds. A protracted low-interest
phase in the euro zone is expected as a result.
Most predictions for the year 2016 assume consistent economic growth in Germany. The federal government is forecasting an increase by 1.6% and the federal bank a growth
rate of 1.8%. With regard to 2016, it is expected that the
continuing stable financial industry and rising employment
figures will have a positive impact on the growth of the
German economy.
As reported by the Federal Statistical Office of Germany, the
German consumer price index rose by an annual average of
0.3% from 2014 to 2015. Thus, the annual inflation rate was
well below that of the two previous years (2014: 0.9%; 2013:
1.5%) and is the lowest since 2009.
The German economic development depends heavily on
exports in addition to domestic demand. The imports and
exports in 2015 exceeded the previous maximum values
recorded in 2014. The import growth was close to 4.2% and
the export growth close to 6.4% in 2015.
With the amendment of the Renewable Energy Sources Act
(EEG) in 2014, a break-through was achieved in the cost
dynamics thanks to the changed EEG levy and the market
integration of renewable energies was pushed forward.
Since April 2015, it is compulsory for new renewable energy-based plants as well as existing plants to be remotely
controllable when claiming the market premium for the
power. If this requirement is not fulfilled, it is impossible to
market the power while obtaining the market premium. The
purpose of the proposed draft of the EEG 2016 Amendment
is to realise the market integration of renewable energies
via a tendering model in the future, in which bioenergy
plants are eligible to participate aside from photovoltaic
systems as well as onshore and offshore wind energy farms.
Starting in 2017, the compensation will be determined by
means of a request for proposal on the market rather than
by the government.
The new version of the Energy Services Act (EDL-G) entered
into force on 21 April 2015 when it was published in the Federal Law Gazette. Based on the amendment, any companies
that do not meet the EU definition of small and medium-sized
47
enterprises (number of employees ≤ 250, annual turnover
≤ 50 million euros or total assets ≤ 43 million euros) are
required to conduct regular energy audits, which document
and analyse energy-consuming machinery and processes
among other things and identify potential improvements.
The new Combined Heat and Power Act (KWKG) entered into
force on 1 January 2016. Based on this Act, industrial autoproducers are no longer eligible for subsidies in the future.
In connection with the EEG levy for own use in the amount
of up to 40% set forth in the EEG 2014, the industrial CHP is
now faced with a double burden as well as a disadvantage
compared to the communal CHP, which continues to receive
subsidies. Due to the prevailing uncertainty surrounding the
development of the subsidies, the addition of combined heat
and power generation in Germany has already dwindled
by more than 70% in 2015 compared to the previous year.
The Federal Cabinet passed the Act governing the Further
Development of the Electricity Market (Electricity Market Act)
on 4 November 2015. The legislative procedure is expected to
be completed in the summer 2016. The basic purpose of the
Electricity Market Act is to create a framework within which
all electricity providers and flexibility options are competing
with one another. Thus, the future electricity market is supposed to ensure the secure supply and cost efficiency, with
a growing proportion of renewable energies. To protect the
new electricity market, a capacity reserve is implemented,
which is essentially supplied by coal fired power stations that
are no longer participating in the electricity market and will
gradually be disconnected from the power supply system
in the medium term.
On 4 November 2015, the Federal Cabinet also passed the Act
governing the Digitalisation of the Energy Transition, which
is aimed at creating the technical and data protection-related conditions for the digitalisation of the energy sector by
means of smart metering systems (known as “smart meters”). The implementation will be rolled out in two phases;
the first one starting in 2017 for large-scale consumers and
generators in accordance with the EEG and KWKG, and the
48
M ANAGEMENT REPORT
second one starting from 2020 for residential users. The
legislative procedure is again scheduled to be completed
by the summer of 2016.
The energy industry continued to be characterised by an
extreme decline in prices involving the energy sources and
energy markets. The market distortion caused by the current
EEG mechanism continued to affect the electricity markets in
2015. Based on information from the Federal Statistical Office,
the prices in the energy sector have therefore decreased by
5.4% compared to the previous year.
The constant changes in regulatory contents regarding the
implementation of the energy transition, politically initiated market interferences and rapidly changing framework
conditions on the markets lead to major uncertainty in the
energy industry. Investments were generally scrutinised more
heavily. This was true in particular for capital-intensive generation systems characterised by long-term amortisation. As
a consequence, pending and necessary investments were
delayed or put on hold altogether. This situation may impact
the uninterrupted supply in the medium to long-term.
The “old” energy industry is now also starting to react to the
general success of renewable energies. Vattenfall announced
that it will abandon its previous core operations in Germany
and focus entirely on renewable energies in the future. E.ON
and RWE are splitting up – into one entity pursuing activities
in the context of the energy transition and one entity focusing
on the operation of coal and gas fired power stations. This
reflects the dynamics and the continuing pressure to change
within the German energy market.
The companies of the GETEC GROUP have always considered the difficult market conditions and the energy policy
framework conditions to be an opportunity rather than a
risk. GETEC’s strength has always been its ability to identify
industrial developments and changes on the market early
on, react to them in a flexible manner and always have the
appropriate concepts and solutions on hand for its customers.
In so doing, the sustainability and reliability of the respective
M ANAGEMENT REPORT
energy solution represent a solid foundation for long-standing customer relations, while at the same time creating vital
synergistic effects for the realisation of future projects in the
various industries and market environments.
PERFORMANCE AND
EARNINGS DEVELOPMENT*
Because of the described framework conditions, 2015 was
indeed again associated with major challenges for most
companies in the energy industry. Still, the negative effects
of the price and climate development and associated with
declining commodity deliveries were overcompensated by
the consistently positive development in the various business areas of the GETEC GROUP of companies. All of the
enterprises continued working with the same degree of capacity utilisation, in addition to realising new projects and
expanding business areas, not least substantially thanks to
the acquisition of Imtech Contracting GmbH in the second
half of the fiscal year.
As a result, the GETEC GROUP achieved a considerable improvement in earnings in 2015. The overall performance rose
by 10.7% compared to the previous year, to EUR 798.153
million (EUR 721.207 million), and the turnover increased by
12.1% to EUR 782.590 million (EUR 698.253 million).
The greatest improvement was achieved in the profit before
tax, by 20.3% to EUR 40.011 million (EUR 33.272 million).
PROCUREMENT
The energy required to generate heat depends significantly on the climate and weather development. 2015 was the
second-hottest year in recorded history since regular temperature measurements begun in 1881, directly following
the hottest year on record, namely the previous fiscal year
2014. Several months were again partly affected by extreme
weather in 2015.
Aside from the temperature and the resulting full natural gas
inventories, the price development of raw materials has a
significant impact on the procurement. The temporary end of
the natural gas dispute between Ukraine and the natural gas
production company Gazprom, the high inventory levels and
the tumbling oil prices are expected to have a price-lowering
effect on the natural gas market in 2016.
The producer’s price for natural gas experienced an average
annual decline in all customer segments. While the price for
industrial customers dropped on average by 7.5%, the price
for trade and commerce only decreased by about 1.8% according to the Federal Statistical Office. The purchase prices
for private households fell by approximately 1.1% in 2015.
Because of the persistently low demand from the industry,
the market for light heating oil continued its downward trend
that started in late 2014. A further price decline was observed
in particular at the end of 2015, because the OPEC member
states failed to reach an agreement on the restriction of the
oil production. The price for light heating oil decreased by an
annual average of 23.1% compared to the previous year. The
consumer prices are expected to decline further in 2016, as
the sanctions against Iran were lifted and a major oil producer
is thus returning to the global market.
According to AG Energiebilanzen, the gross electricity consumption in Germany rose from 592 TWh in 2014 to 597
TWh in 2015. As a result of the higher energy consumption
as well as the rising export surplus, the gross electricity
generation increased from 628 TWh to 647 TWh. The proportion of renewable energies continued to climb from 25.9%
in 2014 to 30.0% in the 2015 fiscal year, in absolute figures
from 162.5 TWh to 194.1 TWh. The consumer prices for
electricity dropped slightly by about 0.8% compared to the
previous year. The reduction of the EEG levy from 6.24 ct/
kWh to 6.17 ct/kWh was one of the main cost reduction
* Previous year’s figures in brackets.
49
factors in the process. However, the growing expansion of
renewable energies will result in a renewed rise in the EEG
levy and hence the electricity costs in the future. Moreover,
the industrial electricity prices are still significantly higher
than the EU average.
New records have been broken with the so-called re-dispatch
costs for market interferences aimed at keeping the power
grid stable against the rapidly and strongly fluctuating green
electricity supply. According to an electricity price analysis
conducted by the Federal Association of Energy and Water
Industries, the industrial electricity price was close to 15.23
ct/kWh (incl. electricity tax) in August 2015. The share for
the procurement, grid fees and distribution was as low as
7.19 ct/kWh. Accordingly, more than 50% of the electricity
price is made up of taxes, fees and reallocation charges.
Based on the objectives of the energy transition, the independence from conventional energy sources such as heating
oil and natural gas and the goal of optimising the energy
infrastructure are gaining increasing importance. In so doing,
the reorientation of the energy production is characterised
by the growing loss of large power station capacities in the
nuclear and fossil sectors and the transition of the bulk of
the energy supply toward renewable energies. As a result,
the demand for a local and self-sufficient supply through
generation systems continues to climb, based also on regenerative energy sources and conceptual designs that pursue a
sustainable and comprehensive approach. Risks associated
with an increasingly unreliable power supply as a result of instable power grids due to a volatile accumulation of electricity
from renewable energies can thereby be mitigated early on.
For photovoltaic and wind systems, the economic viability is
dependent on the investment and service costs as well as an
optimised financing structure and on the hours of sunshine
or blowing wind. Further cost reductions are expected on
the markets with regard to the investment costs. The prices for photovoltaic modules have declined considerably in
recent years, with the European antidumping tariffs having
a dampening effect.
50
M ANAGEMENT REPORT
M ANAGEMENT REPORT
Oil market 2015
Gas and coal market
Oil market, Brent crude oil, front month
Coal API2, front year
US $ / bbl
Gas NCG-H, front year EEX
US $ / t
€ / MWh
30
70
24
60
50
22
55
20
50
45
18
45
40
16
40
14
35
12
30
35
30
10
APR
2015
JUL
2015
OCT
2015
JAN
2016
CO 2 market
JAN
2015
APR
2015
JUL
2015
OCT
2015
JAN
2016
Electricity market
CER DEC 15 ICE Future
EUA DEC 15 ICE Future
Peak load, front year EEX
€/t
Base load, front year EEX
€ / MWh
46
9
As the future legal regulations will continue to focus primarily
on the main goals of the move toward renewable energies,
the companies of the GETEC GROUP are optimally equipped
to handle the future challenges, thanks to the broad range
of energy services they provide. The demand for renewable
energy, for the creation of decentralised solutions and for increased energy efficiency in all areas is projected to increase
in the future. Energy service contracting models with the use
of environmentally friendly and regenerative energy sources
combined with the optimisation of energy supply solutions
and improved energy efficiency are the right answers to the
challenges associated with the future energy supply.
44
8
42
7
40
6
INVESTMENTS
AND FINANCING*
38
5
36
4
34
3
32
2
30
1
28
0
26
JAN
2015
55
26
65
JAN
2015
60
28
Further energy policy measures are expected to be implemented by the federal government. The specific arrangement
of the new electricity market, the digitalisation of the energy
transition, the EEG 2016 and the details regarding the tendering model contained in it as well as the consolidation of
the Energy Savings Regulation (Energieeinsparverordnung)
and the Regenerative Heat Act (Wärme-EEG) relevant for
the real estate industry are expected to create new framework conditions. In combination with these pending legal
standards, the organisation of the currently discussed sector
amalgamation will presumably play a vital role in the future,
according to which excess renewable energy will be used
in the heating and mobility sectors. But there are lingering,
in part unanswered questions about the freedom to choose
a technology.
APR
2015
JUL
2015
OCT
2015
JAN
2016
JAN
2015
At the end of the 2015 financial year, the GETEC ENERGIE
HOLDING GmbH group recorded fixed assets of EUR 220.738
million (EUR 147.029 million).
APR
2015
JUL
2015
OCT
2015
JAN
2016
Main investments within the GETEC GROUP were the acquisition of the GETEC Contracting GmbH, the setup and
Source: Thomson Reuters
51
renovation as well as expansion of energy supply systems
and the upgrade of the hardware and software to ensure
smooth business processes.
The long-term financing of projects was achieved mainly with
loans from the various banking partners and under leasing
models. This secures the financing of current and future
projects despite ever increasing project volumes.
In the 2015 financial year the group companies had a high
level of liquidity at all times and sufficient credit lines for
guarantees, operating resources and project financing with
the commercial banks, ensuring they always had the financial
flexibility to take advantage of all business opportunities.
Current successes with the acquisition activities such as
the purchase of the former Imtech Contracting GmbH and
the realisation of projects help secure a stable earnings situation for the future. Tapping into new potential markets
and building on existing customer relationships will make a
significant contribution.
PERSONNEL
AND SOCIAL AFFAIRS*
In connection with the growth of the GETEC GROUP, the
expansion of the business areas and the acquisition of the
prior Imtech Contracting GmbH, the number of employees
working in the company group continued to increase in the
2015 fiscal year. As of the balance sheet date of 31 December 2015, the companies of the GETEC GROUP employed
1,165 (980) people. This includes all the employees of the
at-equity shareholdings.
The qualification requirements are high for the GETEC workforce. GETEC has established an intensive cooperation with
universities and colleges, for example in the form of lectures,
internships, final theses and stipends as well as sponsorships
52
M ANAGEMENT REPORT
to ensure a steady stream of suitable junior staff members.
Every year, the group companies also offer training positions
for young people in a wide range of jobs.
In addition, GETEC presents itself as an attractive employer vis-à-vis its workforce, thereby expanding its ability to
select qualified applicants from a large pool. Aside from
an attractive remuneration package, state-of-the art workplaces and an in-house cafeteria, GETEC operates an in-house
GETEC nursery school to provide excellent family-friendly
work conditions for its employees.
IMPORTANT EVENTS
IN THE FISCAL YEAR
From an energy policy point of view, the 2015 fiscal year was
again characterised by constantly changing requirements
and framework conditions. The Renewable Energy Sources
Act (EEG) 2014 that entered into force in August 2014 had
an effect in 2015 with its adjusted compensation rates for
renewable energies, the introduction of a pro-rated EEG levy
for the consumption of self-generated power and not least
because of the required remote controllability of renewable
energy-based plants. The new Combined Heat and Power Act
(KWKG) that entered into force on 1 January 2016 already
cast its shadows in the 2015 fiscal year. According to the
new rules, industrial autoproducers are no longer eligible for
the subsidy, which results in a double burden for the on-site
consumption in connection with the EEG levy.
In August 2015, GETEC ENERGIE HOLDING GmbH via its
wholly owned subsidiary VERITAS GmbH acquired the former
Imtech Contracting GmbH, which was renamed to GETEC
Contracting GmbH a short time later. During the further course
of the 2015 fiscal year, the integration process of GETEC
Contracting GmbH and its two business units Industrial
Energy Services as well as Real Properties into the GETEC
GROUP was started. The process is expected to be complete
M ANAGEMENT REPORT
in the course of 2016. As a result of the growth of the GETEC
GROUP as well as new establishments and spin-offs of companies, the structures of GETEC ENERGIE HOLDING GmbH
were adjusted in the 2015 fiscal year in order to consolidate
the overlapping tasks to be performed within the group, with
the aim to create synergies.
GETEC heat & power AG continued to expand its market
position in the sectors industry, complex properties as well
as communal heating plants and large-scale properties. Several projects were realised and delivered to the customer in
2015. GETEC heat & power AG broke new technical ground
by putting into operation the plant of the Haltermann Carless
chemical company in Speyer. In addition to the supply with
heat for steam and thermal oil, highly-explosive vent gas is
used as fuel for the processes, thereby making an important
contribution to the environmental conservation. By putting
into operation a CHP plant of Cargill GmbH in Riesa, it was
possible to reduce the CO 2 emissions by approx. 25%. GETEC
heat & power AG set up and put into operation a cogeneration
unit for MIG Herford GmbH & Co. KG.
Abroad, the company VERBUND GETEC Energiecontracting
GmbH was established in Austria and GETEC Polska Sp. z o.o.
in Poland. In Austria, the newly founded subsidiary is responsible for the professional heat management for eight plants
of the company Wirkungsgrad GmbH of Dornbirn. By signing
a contract to supply the city of Turek with heat for the next
30 years, GETEC heat & power AG successfully entered the
Polish market. In the future, GETEC Polska Sp. z o.o. will
provide the Polish market with services and products from
GETEC heat & power AG and acquire additional projects.
In addition, DIN EN ISO 9001 recertification and a re-audit
for the DIN EN ISO 50001 certification were carried out during the fiscal year, based on which GETEC heat & power AG
continues to fulfil all the compulsory quality and environmental standards. In order to be able to better reflect existing
business processes in a single system in the future, GETEC
heat & power AG in cooperation with other sister companies
started plans in 2015 to launch ERP software.
The competitive environment of GETEC ENERGIE AG during
the 2015 fiscal year was characterised by a radical change
in the energy sector, which manifested itself mainly in the
further addition of renewable energies and the continuing
price decline in electricity wholesale prices. At the beginning
of the year, GETEC ENERGIE AG has taken over the market
communication, forecasting and invoicing for the direct marketing business for its subsidiary GEWI AG, and incorporated
the employees responsible for these tasks into the existing
departments and further professionalised the support of
renewable energy-based plant operators. Over the further
course of the fiscal year, GETEC ENERGIE AG was able to
expand its trading activities with intraday trading, including
15-minute interval trading in the 24/7 business operation.
Furthermore, GETEC ENERGIE AG has considerably increased
its energy services involving the supply of electricity and
natural gas on an international level during the fiscal year. In
addition to Germany, electricity and natural gas customers
in the Netherlands, Belgium, France, Luxemburg, Switzerland, Austria and the Czech Republic are now also able to
enjoy the entire range of services. Spain is currently in the
registration process, which is expected to be complete in
the first half of 2016.
In September 2015, a joint venture named Enbase Power GmbH
was established between Coulomb GmbH, for which GETEC
ENERGIE AG owns 50% of its voting stock, and DAIMLER AG.
In November, it started with the construction of a stationary
battery bank consisting of second-life electric vehicle batteries
with a total capacity of 13 MWh. It is scheduled to be put into
operation in the first half of 2016.
GETEC net AG has acquired all shares of GETEC Kommunalpartner GmbH starting on 1 January 2015, thereby making
it a wholly owned subsidiary. Staring on 1 January 2015,
GETEC net eta GmbH & Co. KG founded in 2014 entered the
market as the seventh network operator of the GETEC net
AG company group. As a result, the GETEC net AG company
group now consists of eleven companies.
53
At the end of the 2015 fiscal year, the communal utility Gemeindewerk Seegebiet Mansfelder Land in cooperation with
GETEC net AG was awarded the contract to operate the
communal power grid. GETEC net AG is responsible for the
business activities, thereby expanding its range of services.
Moreover, GETEC net AG is working on a German-Dutch
project aimed at realising a power cable connection between
Emden and the Dutch city of Delfzijl. With respect to the operational activities, the energy efficient core processes were
further improved on the basis of the SDK standard software
introduced in 2013. For example, we were able to complete the
entire year-end accounting as early as by the end of January
2016. As well, we were able to comply with the so-called 1%
criterion stipulated by the Federal Network Agency, which
defines the quality of exchanged mass data within the legal
framework of the Energy Industry Act (EnWG). Thus, the
market rules for accounting grid billing (Marktregeln zur Bilanzkreisabrechnung, MaBiS) were successfully implemented.
The new organisational structure and the newly created technical environment enable GETEC net AG to offer all services to
its affiliates as well as third parties. GETEC net AG no longer
only appears on the market in its role as network operator, but
also as a service provider. The products for the market roles
network operator and energy supplier that were created in
this fashion are almost infinitely scalable, and a new business
category was thus established.
In the 2015 fiscal year, GETEC green energy AG realised additional projects in the field of renewable energy generation.
In so doing, the focus of the company’s responsibilities has
shifted – from the planning and realisation of biomethane
projects to the design and construction of wind energy plants.
Based on this approach, the main objective of the general
contractor project with the company Windpark Zerbst GmbH,
namely the timely supply of the power generated by the ten
new wind power plants into the power grid by 31 December
2015, was achieved. Consequently, all three types of renewable energy have now been combined at the energy park Zerbst
location. In the future, they will serve as a strong foundation
for the realisation of new projects in 2016.
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In addition, the IGEA Ingenieurgesellschaft für Erschließungsund Anlagenplanung mbH shares were divested, because
various projects and synergies will no longer be realisable due
to the changing political framework conditions. The GETEC
green energy AG branch office in Hamburg was closed at the
end of the reporting year, following the scheduled retirement
of board member Matthias Genske.
2015 was the second full fiscal year for GETEC WÄRME &
EFFIZIENZ AG; in the context of the GETEC GROUP’s restructuring efforts, this company specialises in energy supply
concepts for its customers in the housing and real estate
industry, public facilities, hospitals, social facilities and hotels. In addition to customised energy service contracting
solutions and the energy management optimisation, other
main business activities in 2015 included the ancillary cost
optimisation in the real estate industry as well as the pooling of GETEC WÄRME & EFFIZIENZ AG’s expertise with the
telecommunication services of GETEC media AG to create
energetic turnkey solutions. Therefore, the establishment
and expansion of these new business activities continued
during the fiscal year, with the establishment of the GETEC
MESSDIENST GmbH subsidiary, the further expansion of the
GETEC home GmbH subsidiary and the merger of the energy
supply solutions of GETEC home GmbH with the telecommunication services of GETEC media AG through the newly
established end user brand SYNVIA, a provider of power,
gas, television, telephony and internet from a single source.
G+D Gesellschaft für Energiemanagement mbH as a joint
venture between Deutsche Wohnen Energy GmbH and GETEC
WÄRME & EFFIZIENZ AG was established with the objective
to achieve a comprehensive ancillary cost optimisation for real
estate companies, and it was able to continue expanding its
business activities in 2015. During the fiscal year, this recipe
for success was leveraged in the direction of further joint
ventures with renowned residential real estate companies.
G+G Energiemanagement GmbH was additionally established
in 2015, as a joint venture between Grainger Deutschland
GmbH and GETEC WÄRME & EFFIZIENZ AG. Its field of activity is focused mainly on the Greater Cologne-Wuppertal
M ANAGEMENT REPORT
Area, the Ruhr Basin and the Rhine-Main Basin and covers
the energetic management of usage and residential units.
The portfolios are taken over in time slices, thereby ensuring continuing growth. Finally, a long-term contract for the
complete supply of heat to GBW was signed in Bavaria with
the GBW Group through the GWE subsidiary Bayernwärme
GmbH, which has a current inventory of nearly 30,000 residential units.
The promotion of the GETEC WÄRME & EFFIZIENZ AG’s executive board spokesman Gerhard Andres into the company’s
supervisory board effective on 1 August 2015 resulted in a
change in personnel. He is succeeded by Michael Lowak
as new executive board spokesman of GETEC WÄRME &
EFFIZIENZ AG. In addition, Markus Stoll was appointed as a
member of the executive board at the same time.
In the 2015 fiscal year, GETEC media AG was able to set up
the complete organisation for the sales and customer care,
thereby enabling it to map out all of the business transactions involving the acquisition, customer management and
billing as well as the commercial and technical customer
service support. In cooperation with the GETEC WÄRME &
EFFIZIENZ AG sister company, GETEC media AG has additionally launched the end user brand SYNVIA during the
fiscal year. SYNVIA is a product platform that covers the
energy and telecommunication products for end users.
Commercial and technical preparations for the redemption
of preliminary permissions in cooperation with partners in
the housing industry were underway at the same time. The
first contracts for a new construction project equipped with
the corresponding broad-band cable structures were signed
in the 4th quarter. Thus, GETEC media AG was able to set
up the first broad-band cable supply network and to include
the first SYNVIA cable products in its range of deliveries as
of November 2015.
NET ASSETS*
In the financial year 2015, the total assets of the GETEC
ENERGIE HOLDING GmbH group increased compared to
the previous year by EUR 96.638 million from EUR 382.408
million to EUR 479.046 million. This rise is due in large part
to an increase in fixed assets, not least also in connection
with the acquisition of GETEC Contracting GmbH.
Fixed assets rose during the reporting period by approx.
50.1% from EUR 147.029 million to EUR 220.738 million.
The increase of EUR 47.600 million is due in large to new
investments in tangible assets.
Current assets as of the balance sheet date totalled EUR
247.956 million (EUR 226.711 million). In this area, the increase is mostly due to liquid assets to the value of EUR
9.183 million as well as receivables and other assets to the
value of EUR 13.312 million.
Deferred tax assets decreased from EUR 5.765 million in the
previous year to EUR 5.427 million during the year under
review.
There was also a positive development in terms of the structure of short and long-term assets. At the end of the 2015
financial year, the asset position for the GETEC ENERGIE
HOLDING GmbH group was, overall, extremely good.
FINANCIAL POSITION*
As at 31 December 2015, equity totalled EUR 187.492 million
(EUR 165.402 million), an increase of EUR 22.090 million
compared to the previous year.
Taking into consideration the balance sheet total of EUR
479.046 million (EUR 382.408 million), profit participation
55
capital totalling EUR 1.058 million (EUR 868 thousand) as
well as the addition of 50.0% of the special item, the economic equity ratio was 40.0%, representing a decrease of
4.3 percentage points on the previous year.
The strong results and cash flow combined with a conservative dividend policy secured the financing of operations and
the pre-financing of projects. The 2015 cash flow calculated
from the annual net income and depreciation amounted to
EUR 45.004 million (EUR 37.233 million).
Liabilities to credit institutions amounted to EUR 107.086
million (EUR 71.568 million) as of the balance sheet date.
The increase resulted primarily from outside financing for
completed projects in various subsidiaries of GETEC ENERGIE
HOLDING GmbH.
The GETEC ENERGIE HOLDING GmbH group pursues a conservative financial policy. It is characterised by risk control
and forward-looking process control. In addition to liquidity
management, the financial management covers the monitoring of interest rate and commodity price risks, the issuing of guarantees as well as the communication with rating
agencies.
The primary objective is to minimise capital costs and financial risks in order to safeguard the group’s financial stability
and flexibility and to increase the planning security.
In the 2015 fiscal year, liquidity was high and sufficient credit
lines were held with commercial banks that were not fully
utilised. Financial flexibility was assured at all times to take
advantage of all business opportunities and react to potential risks. Liabilities are paid within the payment period and
receivables accepted within the payment terms. Given this
solid payment management, which leads to positive balance
sheet figures, the financial position can be considered stable.
56
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EARNINGS*
In the financial year 2015, the result from ordinary activities
increased by EUR 6.739 million or 20.3% compared to the
previous year to EUR 40.011 million. Thus, the earnings situation was extremely favourable, in spite of greater competition
and declining energy prices as well as warmer weather. This
favourable profit situation is also reflected in the positive
development of the profit ratio of 4.8% in the previous year
to 5.1% in the reporting year.
Including other operating income, overall performance increased from EUR 721.207 million to EUR 798.153 million.
Compared to the previous year, this represents an absolute
increase of EUR 76.946 million and a percentage increase
of 10.7%.
Turnover developed from EUR 698.253 million in the previous
year to EUR 782.590 million during the year under review.
Divided by fields of operation, the revenue structure for the
GETEC ENERGIE HOLDING GmbH group is as follows:
M ANAGEMENT REPORT
REVENUE
(MIL L I O N EURO)
FRO M L I GH T, EL E C T RI CI T Y
A ND RO O M V EN T IL AT I O N
333.475
FRO M HE AT IN G , C O O L IN G , O IL
A ND G A S SUPPL IES
301.793
FRO M PL A N T C O NS T RU C T I O N
66.075
FRO M NE T WO RK O PER AT I O N
22.619
FRO M FEED - IN TA RIFFS
(EL E C T RI CI T Y )
14.427
In correlation with the change in revenue, material costs
also increased compared to the previous year. Thus, material
costs increased by EUR 62.449 million or 10.5% from EUR
595.270 million in the previous year to EUR 657.719 million
in the reporting year.
Overall, a gross profit of EUR 140.434 million (EUR 125.937
million) was achieved. This represents an absolute increase
by EUR 14.497 million and a percentage increase of 11.5%
on the 2014 financial year.
Personnel expenses grew from EUR 44.121 million as of 31
December 2014 to EUR 48.230 as of 31 December 2015.
These additional expenses are due to the growing workforce
required to keep pace with the corporate growth.
Taking into account the performance-related taxes of EUR
14.555 million (EUR 12.421 million), the annual net income
was EUR 25.456 million (EUR 20.851 million).
FRO M O PER AT I O NS , M A IN T EN A N CE
A ND SER V I CIN G
9.373
FRO M T EL EPH O NE C A RRIER
A ND PROV ID ER SER V I CES
8.001
FRO M C O 2 A ND F UEL T R A D IN G
5.825
OT HER RE V ENUE
21.002
SUPPLEMENTARY REPORT
No important events with a significant impact on the situation
of the companies within the GETEC GROUP occurred after
the end of the 2015 fiscal year.
FORECASTING, OPPORTUNITIES
AND RISKS REPORT
FORECASTING REPORT
The conditions on the energy and raw materials markets
and the previously discussed effects of current and future
rules governing energy and environmental policies are expected to increase the demands on all companies within
the energy industry during the forecast period of one year.
57
When it comes to energy services, GETEC is as broadly
positioned as a large-size enterprise, but it is as lean and
flexible as a medium-sized company. It can also rely on a
highly knowledgeable workforce. The companies within the
GETEC GROUP are using these vital advantages to react to
changes on the market with the highest degree of flexibility,
to utilise the opportunities for the benefit of their customers
with the further development of business areas, while at the
same time reducing the risks as much as possible. With its
broad portfolio of different services, GETEC is minimising
the potential risks associated with the discontinuation and/
or abandonment of individual business areas.
In 2016, GETEC heat & power AG will continue focusing on
the development and realisation of major heating and power
plant projects for the industry, large complex properties
and communities as well as on the internationalisation of
its sales activities. Moreover, GETEC heat & power AG is
committed to significantly expanding its range of services
as well as to acquiring new customers and client groups and
to consolidating existing market shares. It hopes to generate
a sales volume of 400 million euros with a profit margin of
10% by 2020.
GETEC heat & power AG is launching the project GE 2 O –
GETEC Energy Efficiency Offensive – in 2016 and will better
incorporate the customers’ production processes into the energy optimisation in the future. Jointly with GETEC ENERGIE
AG, GETEC heat & power AG has additionally initiated the
project Virtual Power Plant, whose focus is on marketing
power through virtual power plant utilisation. With the project GETEC Infra, GETEC heat & power AG will zero in on
rendering energy and other FM services for industrial and
chemical parks. Taking charge of essential parts of GETEC
Contracting GmbH, which was acquired by GETEC ENERGIE
HOLDING GmbH through its subsidiary VERITAS GmbH, is
expected to result in further growth in sales for GETEC heat &
power AG. Thanks to increasing internationalisation, GETEC
heat & power AG will additionally be able to further develop
the European market in Austria, Poland, the Czech Republic,
Croatia and Slovenia. Given the above sales activities and
58
M ANAGEMENT REPORT
based on the premise of a year of weather which is in line
with the long term averages and therefore colder than 2015,
the result is a stronger increase in overall performance of the
subgroup GETEC heat & power AG in the planning year 2016
to EUR 273.687 million, up on the reporting year.
Under the assumption of normal weather conditions in 2016,
and on the basis of the macroeconomic framework conditions, no fundamental changes in the primary energy consumption in Germany are expected, and the business areas
of GETEC ENERGIE AG should not be negatively impacted.
With respect to the energy mix, a further shift toward renewable energies is likely, due to the existing extension and
expansion programme for wind energy and photovoltaics.
This change in favour of renewable energies will presumably strengthen in 2016, thanks to an increased connection
to the grid of offshore wind farms and a major addition of
onshore wind farms. Because of political and international
influences and the climate, electricity and gas prices are
difficult to predict. As all forward positions are secured in
terms of pricing, there is no direct effect on the results of
GETEC ENERGIE AG. However, margins are expected to remain under pressure and sales decreasing as a result of declining wholesale prices. GETEC ENERGIE AG is committed
to the further expansion of its business activities in Germany
and other European countries in 2016 and to providing its
customers with a variety of new and attractive services that
fulfil the claim for a safe, flexible energy supply tailored to
the individual customer’s needs in the near future. On this
basis, the anticipated overall performance for the subgroup
GETEC ENERGIE AG in 2016 is EUR 434.497 million.
M ANAGEMENT REPORT
of the network operation division, the plan is to increase it
by 50% to around EUR 30.000 million with the electricity
volume carried increasing to 520 million kWh by the end
of the second period of incentive regulation (31 December
2018). On this basis, the network services for third parties are
to be expanded to become another key element of company
business over the same period. As well, the development
of the meter operation at GETEC metering GmbH as a third
business activity is rated positively. In line with the legal
requirements, small-scale customers will also gradually be
equipped with “smart” meters. The eCore system introduced
in 2011/2012 still serves as basis for future projects in the field
of meter operation and is used for the further expansion of
the achieved market lead for specialised system solutions.
On this basis, the forecast increase in overall performance
of the subgroup GETEC net AG compared to the reporting
year is EUR 36.836 million for 2016.
In addition to the conventional areas of renewable energies,
GETEC green energy AG will dedicate its efforts to other
promising fields and specialisation in connection with renewable energies and a sustainable energy supply in the
future. For this purpose, one of the goals is to expand the
investment portfolio over the long term. A multitude of projects and ideas that are currently being developed, such as
in the field of storage solutions, have been incorporated into
the plans. Based on the assumption that the revenues and
expenses structure of the 2015 fiscal year will be the same
in the forecast year, the overall performance for the planning
year 2016 is projected to be EUR 31.221 million.
One of GETEC net AG’s main business models is based on
the efficient operation of the “last mile” of energy supply
networks. In 2016, network fees are projected to rise slightly
while the specific costs decline. Moreover, GETEC net AG’s
development will still be characterised by a further operational
division of the network sector pursuant to the Energy Industry
Act (§ 6b) during the next several fiscal years, aimed at reporting the maximum equity yield rate as earnings generated with
the network operation. In terms of the overall performance
59
Please refer to the following success plan for the GETEC ENERGIE HOLDING GmbH group:
2015 actual
million EUR
2016 plan
million EUR
787.982
864.882
10.172
3.998
798.154
868.880
– Material expenses
657.719
698.286
= Gross profit
140.435
170.594
– Personnel expenses
48.230
55.874
– Depreciation on tangible assets and
intangible fixed assets
19.547
25.150
– Other operating expenses
32.316
41.270
= Operating profit
40.342
48.300
-331
-160
= Profit on ordinary activities
40.011
48.140
– Taxes
14.555
14.029
25.456
34.111
Total output
+ Other operating income
= Total operating income
+ Financial result
= PROFIT FOR FINANCIAL YEAR
This data is the result of the forecast development of results for the divisions of the companies in the GETEC GROUP.
60
M ANAGEMENT REPORT
GETEC WÄRME & EFFIZIENZ AG’s focus on the real estate
and housing industries is expected to increase further in
2016, as is the rising specialisation to the individual customer
segments and the associated consideration of individual
customer needs. This strategic orientation in response to
the changing market environment enables GETEC WÄRME &
EFFIZIENZ AG to acquire new customers and customer
groups, develop new products and further develop existing
products and services. To achieve a comprehensive ancillary
cost optimisation for real estate companies, joint cooperations with companies in the housing industry are further
expanded and ensure a long-term steady stream of revenue
and results generated by the already contractually secured
housing stock that is taken over in time slices and has long
periods of validity. The activities on the end customer market
will be boosted further in the planning year 2016, by means
of the end customer brand SYNVIA operated jointly with
GETEC media AG.
Likewise in close cooperation with the sister company GETEC
media AG, GETEC WÄRME & EFFIZIENZ AG is pursuing the
project Intelligent Home, which provides optimal and comprehensive support to the pending digitalisation of the energy
transition for real estate customers. Thus, the first steps were
initiated, aimed at realising the streamlining of business processes, reduction of costs for the housing industry as well as
energetic optimisations and energy efficiency improvements of
the real estate portfolios by means of new technical solutions.
Given the above sales orientation and the foundations laid
in 2014 and 2015, the result is an expected strong increase
in overall performance of the subgroup in the planning year
2016 to EUR 127.831 million, compared to the reporting year.
In 2016, GETEC media AG will establish the legal foundation
for expediting the expansion of further broadband cable
structures among other things from the portfolio of strategic cooperation partners, by taking over grants. Moreover,
the activities relating to the product range of the SYNVIA
product platform will be strengthened further during the
fiscal year. With GETEC Intelligent Home, GETEC media AG
in cooperation with other GETEC subsidiaries is launching a
M ANAGEMENT REPORT
new product and a unique selling proposition on the market.
Intelligent Home takes into consideration the requirements for
the digitalisation of the energy transition and is realised on the
basis of long-term cooperations with real estate companies
and/or regional service providers. Thanks to the variety of
services and their alternative combinations, it will be possible
to generate a competitive edge in the form of an “everything
from a single source” approach for the housing industry.
The goal is to increase synergies for the housing industry
market segment, by combining conventional business areas
with innovative telecommunication business models. Thus,
the Intelligent Home concept will add to and promote the
successful sales of classical energy service contracting in
the housing industry. On this basis, an overall performance
of the subgroup GETEC media AG of EUR 6.979 million is
projected for the planning year 2016.
OPPORTUNITIES REPORT
With the indirect acquisition of Imtech Contracting GmbH
by GETEC ENERGIE HOLDING GmbH, the GETEC GROUP
has broadened its portfolio with an attractive and viable
customer base as well as strengthened the existing energy
ser vice contracting exper tise and acquired new skills.
The additional wealth of experience of the current GETEC
Contracting GmbH represents future opportunities in the area
of the expanded operation of complex large-scale properties
such as industrial parks beyond the core business of energy
services for the companies of the GETEC GROUP, which are
supposed to be realised by GETEC heat & power AG under
the label GETEC Infra.
The complexity of the energy markets and rising energy prices in the medium term mean that the industry should expect
a further increase in demand for intelligent, efficient and
individually designed energy supply solutions from GETEC
heat & power AG in the medium term, thereby generating
further revenue gains. Stronger price increases are forecast
in particular in the neighbouring eastern European countries.
This is because of investments into the modernisation of the
energy production plants, which are required to fulfil the
climate protection provisions within the European Union.
It will result in further opportunities for companies such as
GETEC heat & power AG. GETEC generally views legislative
changes that affect the energy industry as an opportunity
and not as a risk as they regularly create incentives for an
efficient energy use.
The opportunities for GETEC ENERGIE AG’s business areas
lie in a steadily growing demand for services in the area of
purchasing and marketing energy from conventional and
renewable sources. In so doing, the customer is provided
with a comprehensive range of services consisting of a multitude of new and attractive services from a single source.
In addition to the energy procurement and marketing, it
also includes accounting grid management, the marketing
of flexibilities, energy data management, change management, CO 2 management and billing services. The expansion
to neighbouring markets of Germany represents another
opportunity for GETEC ENERGIE AG to strengthen its ties
with international clients and to attract new customers with
its extensive portfolio. The high price fluctuations and the
rapidly changing energy policy rules offer strong opportunities for growth to the company as a partner of all businesses
participating in the energy market. The implementation of
energy policy rules will lead to future investments in energy
storage systems and further boost GETEC ENERGIE AG’s
competitive position.
GETEC net AG will continue to realise opportunities during
the next several fiscal years, thanks to the described further
operational division of the network sector pursuant to the
Energy Industry Act (§ 6b) as well as the expansion of the
network services division for third parties. The development
of the meter operation by the GETEC metering GmbH subsidiary as its third business activity likewise represents a
major potential, in particular in view of the changed legal
requirements. Accordingly, even small-scale customers are
supposed to be gradually equipped with “smart” meters.
61
Thanks to the previously introduced eCore system, GETEC
net AG enjoys a considerable competitive advantage on the
developing market.
GETEC green energy AG will continue the shift of its core
activities from the planning and realisation of biomethane
projects started in 2015 to the planning and realisation of
wind power projects. In 2016, GETEC is expecting the first
new impulses from the biogas extraction. Based on the
changed legal framework conditions, new investments into a
number of existing plants will be required. However, GETEC
green energy AG is also focusing on the growing urgency
to secure the German power grid infrastructure and the
associated need for the creation of balancing and storage
possibilities; in cooperation with external partners as well as
GETEC ENERGIE AG, it hopes to realise promising individual
solutions in 2016.
Even though the prices for primary energy sources were
low at the turn of the year, the prices for energy customers
are expected to climb in the medium term. Therefore, the
demand for smart, efficient and individually designed energy
supply solutions provided by GETEC WÄRME & EFFIZIENZ
AG will continue to rise. In light of the energy policies stipulated by the federal government for example with regard
to the realisation of the efficiency targets, the topics energy
efficiency and ancillary cost optimisation will increasingly
play an important role. This often results in opportunities
and growth potentials for GETEC WÄRME & EFFIZIENZ AG,
which has previously developed policy-independent models
that ensure a modern and efficient supply of the real estate
industry at home and abroad. This applies both to residential
and commercial properties, hotels and public sector buildings
and to social facilities such as hospitals and care homes.
In conjunction with the sister company GETEC media AG,
both group companies will enjoy opportunities for growth
in connection with the realisation of enhanced all-round
services for real estate customers. In the future, GETEC
Intelligent Home will provide real estate customers with
a comprehensive package for all things related to living
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M ANAGEMENT REPORT
and housing from a single source. To this end, traditional
and new energy services will be combined with innovative
telecommunications business models.
Further opportunities are created in the business activity of
GETEC media AG through synergies in the structural supply
of the GETEC GROUP with services from the associated
companies Communication Concept Gesellschaft für Kommunikationstechnik mbH/TELE AG. In addition to the smart
home integration, this mainly concerns the data exchange
processes from the energy production plant via the control
system to the data transfer from and to the consumer as
well as to the real estate industry. Because of the legally
stipulated introduction, smart meters will become a central
data communication interface by means of a data gateway
for all consumption values and the prerequisite for the communication between the producer and consumer in 80% of
all German households by 2020. Because of the stringent
technical as well as regulatory requirements, the conceptual
design of GETEC media AG therefore far exceeds the topic
of consumer data capture. The pre-existing IP infrastructure
of GETEC media AG can be used for the cost-optimised data
communication within and outside of the property. All in all,
this data concept ensures that all data within the Intelligent
Home remain with GETEC.
Based on the continuing growth in a dynamic market environment, an expansion of the favourable profitability is
expected for the GETEC GROUP companies in connection
with rising sales. Please see the corporate business plan for
more on future developments.
M ANAGEMENT REPORT
RISK REPORT
The success of the GETEC GROUP companies was and is
mainly based on the ability to recognise changes on the markets and of the energy policies and regulatory environment
early on, to identify their opportunities and risks and to draw
the appropriate conclusions for the business activities of the
GETEC GROUP companies. This analysis and its evaluation
are not only part of the management’s regular responsibilities, but they belong to the business approach of the GETEC
GROUP companies and are the corresponding prerequisite
for the development of business activities of their operational
divisions.
In view of the risks, risk management procedures and in-house
controls are organised systematically, designed depending
on the business activities on the level of the subgroups and
regularly developed further. Reports are produced on a regular quarterly basis and in response to specific situations.
The risk management systems form a key component of the
business processes and an important basis for corporate decision-making. As part of the ISO 9001 certification, group-wide
basic principles and control standards for risk assessment
have been established and are constantly adjusted to meet
current requirements through internal and external audits.
A risk management report systematically and continuously
documents identifiable risks, describes and evaluates the
measures taken to manage the risks and thus helps the GETEC
Group to reduce them or at least bring them under control.
The company’s internal controlling monitors the development
at the project level through detailed regular intra-year analysis
and thus represents an important tool for the detection and
analysis of deviations from the business plan. The findings
provide the starting point for control measures to counteract
possible negative developments in a successful and timely
manner. Another effective tool for risk identification and minimisation is group-wide reporting to the supervisory board and
the management board. With the help of regular intra-year
reporting at the individual company level, the companies’
general business courses are continuously monitored.
Based on the described business approach of GETEC, risks
stemming from European and German energy policies as well
as their corresponding formalities oftentimes also represent
opportunities for the group of companies. Presently, they
consist in the amendment of the Renewable Energies Sources
Act (EEG) 2016, particularly in connection with the tendering
criteria, the effects of the CHP legislation in the coming years,
the implementation of the new electricity market as well as
the basic arrangement of the so-called sector amalgamation
approach between the electricity, heat and mobility sectors
in the medium term.
The business activities of the GETEC GROUP are not impacted
by risks that currently affect the conventional energy industry mainly as a result of the abolition of business activities
related to the operation of large-scale power stations. As
a company group with medium-sized character, GETEC is
operating small-scale and decentralised systems, which are
additionally financially backed up with long-term contracts.
For now, operational risks are generally associated with the
construction and operation of complex energy production
plants. The excellent qualifications of the technical employees and the internal guidelines both limit risk to start with
and also provide adequate security against them. No future
purchasing risks have been identified. This applies to the procurement of primary energy as well as to the procurement of
external finance and personnel. Price risks are largely covered
by contracts. Risks relating to financing instruments are not
expected. There are no significant interest rate risks due to
long-term loan agreements and hedging with interest rate
swaps. In addition, no speculative financial or commodity
transactions are carried out.
There are currently no discernible commercial or legislative
risks that could pose a threat to the continued existence of
the company or any other risks that could have a particular
impact on the company’s assets, financial position or profitability. The revenue position and solvency of the GETEC
ENERGIE HOLDING GmbH group are still secured relative
to future revenue on the basis of the broad equity capital
63
basis, the dominance of long-term sales contracts and the
resulting planning reliability.
In conclusion, there is no evidence of any current or future
risks to the continued existence of the GETEC ENERGIE
HOLDING GmbH group.
Magdeburg, 20 May 2016
Dr. Karl Gerhold
64
M ANAGEMENT REPORT
M ANAGEMENT REPORT
MICHAEL LOWAK ,
Chief Executive Officer
CHRIS DÖHRING,
BERNWARD PETERS,
GETEC ENERGIE AG
DR. K ARL GERHOLD,
HEIKO MEVERT,
GETEC net AG
VOLK ER SCHUL Z ,
MARKUS STOLL ,
GETEC media AG
65
66
FI N A N CI A L S TATE M EN TS
67
FINANCIAL STATEMENTS
BALANCE SHEET
ASSETS
A.E XPENSES FOR THE SET-UP AND EXPANSION
OF BUSINESS OPERATIONS
B. FIXED ASSETS
2015
EUR
2014
EUR
0.00
0.00
220,737,873.71
147,029,013.36
53,692,251.66
28,060,144.74
EQUITY AND LIABILITIES
A. EQUIT Y
2015
EUR
2014
EUR
187,491,517.53
165,401,732.54
56,833.00
56,833.00
I. Share capital / Subscribed capital
II. Capital reserve
75,770,191.41
75,770,191.41
III. Surplus reserves
35,012,316.51
27,460,339.63
IV. Difference in equity due to currency translation
44,163.38
-65,429.05
V. Retained earnings
70,554,518.77
54,181,867.51
6,053,494.46
7,997,930.04
B.D IFFERENCE RESULTING FROM CONSOLIDATION OF FUNDS
1,561,719.57
1,561,719.57
I. Intangible assets
II. Tangible assets
154,241,356.59
106,640,942.92
III. Financial assets
12,804,265.46
12,327,925.70
247,955,591.61
226,710,738.64
9,776,280.59
11,026,397.06
176,805,391.49
163,493,140.22
61,373,919.53
52,191,201.36
C. PROFIT PARTICIPATION CAPITAL
1,058,000.00
868,000.00
D. ACCRUED INCOME
4,925,414.80
2,903,615.47
D. SPECIAL ITEMS
6,498,627.42
6,556,474.50
E. DEFERRED TA X ASSETS
5,426,788.64
5,764,649.88
E. SPECIAL RESERVES
33,429,743.60
24,113,339.27
214,163,410.16
181,448,003.91
34,030,194.00
2,424,469.62
812,456.48
34,277.94
479,045,668.76
382,408,017.35
C. CURRENT ASSETS
I. Stocks / Inventories
II. Receivables and other assets
III. Liquid assets
VI. Other shareholders’ participations
F. LIABILITIES
G. DEFERRED INCOME
H.DEFERRED TA X LIABILITIES
TOTAL
479,045,668.76
382,408,017.35
TOTAL
68
69
INDEPENDENT AUDITOR’S
REPORT
PROFIT AND
LOSS STATEMENT
2015
EUR
2014
EUR
782,590,489.20
698,252,537.58
2. Inventories movements
2,775,948.09
6,270,756.42
3. Other capitalised services
2,615,230.33
2,093,178.39
10,171,822.54
14,590,145.67
798,153,490.16
721,206,618.06
657,719,068.92
595,269,859.91
6. Personnel expenses
48,229,753.45
44,121,228.95
7. Amortisation and depreciation
19,547,486.83
16,381,972.83
8. Other operating expenses
32,315,903.29
32,179,410.14
40,341,277.67
33,254,146.23
-330,429.59
18,309.17
40,010,848.08
33,272,455.40
-168.72
-303.08
14,554,626.56
12,420,995.27
25,456,052.80
20,851,157.05
54,181,867.53
43,594,749.35
955,447.19
508,428.69
-1,551,751.63
-463,769.69
17. Allocation to revenue reserves
3,995,915.15
4,087,312.62
18. Dividend payout
5,683,790.85
6,132,067.27
70,554,518.77
54,181,867.51
1. Turnover
4. Other operating income
5. Material expenses
9. Financial result
10.Profit or loss on ordinary activities
11. Extraordinary profit or loss
12. Taxes on income
13.Annual net income
14. Profit / loss brought forward from the previous year
15. Minority interests in the annual net profit
16. Elimination of intercompany profit and loss
19.Net profit
We have audited the financial statements, consisting of the balance sheet,
the profit and loss account, the notes,
the cash flow statement, the statement
of changes in equity, and the group
management report prepared by GETEC
ENERGIE HOLDING GmbH, Magdeburg,
for the financial year from 1 January
to 31 December 2015. The preparation
of the annual financial statements and
group management report in accordance with German commercial law is
the responsibility of the company’s legal
representatives. Our responsibility is to
express an opinion on the annual financial statements and the management
report based on our audit.
We conducted our audit of the annual
financial statements in accordance with
section 317 of the German Commercial
Code (HGB) and the German conventions for proper auditing of financial
statements laid down by the Institute
of German Public Accountants (Institut
der Wirtschaftsprüfer – IDW). Accordingly, the audit should be planned and
performed such that inaccuracies and
violations that have a significant effect
on the presentation of the asset, financial and results position in the annual
financial statements in accordance with
principles of proper accounting and in
the management report are detected
with reasonable assurance. Knowledge
of the business activities and the economic and legal environment of the
company and the prospect of possible
misstatements are taken into account in
the determination of audit procedures.
Within the framework of the audit, the
effectiveness of the internal control
system relating to the accounting system and the evidence supporting the
disclosures in the annual financial statements and the management report are
assessed primarily by examining sample
data. The audit includes the assessment
of the annual financial statements of the
companies included in the consolidated
financial statements, the segregation of
the consolidated group, the accounting
and consolidation principles used, and
the significant estimates made by legal
representatives, as well as the evaluation of the overall presentation of the
consolidated financial statements and
the group management report. We believe that our audit provides a reasonably secure basis for our opinion.
Our audit has not led to any reservations.
In our opinion, the information revealed
by the audit indicates that the annual
financial statements meet the statutory
requirements and present a true and
fair view of the group’s assets and liabilities, along with its financial position
and earnings situation, determined in
accordance with proper accounting
principles. The group management report is consistent with the annual financial statements, presents a true overall
impression of the group’s situation and
depicts appropriately the opportunities
and risks arising from future developments.
The use of the opinion outlined above
outside of this audit report requires our
prior consent. A new opinion from us
is needed, if the annual financial statement is published or disclosed in a format that deviates from the confirmed
version (including the translation into
other languages), if our report is cited
or our audit is mentioned; reference is
made to § 328 HGB.
Hanover, 27 May 2016
AUDITA Treuhand GmbH & Co. KG
Wirtschaftsprüfungsgesellschaft
G. Gaedecke
Financial auditor
70
71
GROUP CONSOLIDATION
As of 31 December 2015, GETEC ENERGIE HOLDING GmbH is holding
the following direct and indirect stakes in companies that are included in
the annual financial statement through full consolidation:
COMPANY
SHARES IN %
INITIAL CONSOLIDATION
Magdeburg
Hanover
Hanover
Magdeburg
Magdeburg
Magdeburg
100.00
95.00
100.00
100.00
100.00
100.00
31/12/2010
31/12/2002
31/12/2002
31/12/2010
31/12/2013
31/12/2014
GETEC Arealnetz GmbH
GETEC Benelux B.V.
GETEC Climate Projects GmbH
GETEC Contracting GmbH
GETEC Daten- und
Abrechnungsmanagement GmbH
Hanover
Amsterdam / Netherlands
Hanover
Osnabrück
Magdeburg
100.00
100.00
100.00
100.00
100.00
31/12/2012
31/12/2012
31/12/2009
31/12/2015
31/12/2005
GETEC home GmbH
GETEC Industriegase GmbH
GETEC Industrieservice GmbH
GETEC Kommunalpartner GmbH
GETEC Kraftwerk Verwaltungs-GmbH
GETEC MESSDIENST GmbH
GETEC MESSDIENST
Vertrieb & Service GmbH
Magdeburg
Magdeburg
Magdeburg
Hanover
Hanover
Magdeburg
Magdeburg
100.00
100.00
100.00
100.00
100.00
100.00
74.90
31/12/2014
31/12/2010
31/12/2013
31/12/2010
31/12/2006
31/12/2015
31/12/2015
GETEC
GETEC
GETEC
GETEC
GETEC
GETEC
GETEC
GETEC
GETEC
GETEC
GETEC
Hanover
Hanover
Hanover
Hanover
Hanover
Hanover
Hanover
Hanover
Turek/Poland
Magdeburg
Berlin
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
31/12/2011
31/12/2012
31/12/2012
31/12/2014
31/12/2012
31/12/2012
31/12/2012
31/12/2012
31/12/2015
31/12/2010
31/12/2014
Anhaltinische Gas GmbH
Bayernwärme GmbH
Bioenergie Wächtersbach GmbH
BMHKW Torgau GmbH
Carbotechnik Energiesysteme GmbH
Communication Concept Gesellschaft für
Kommunikationstechnik mbH
Magdeburg
Magdeburg
Wächtersbach
Magdeburg
Geretsried
Leipzig
100.00
100.00
64.90
100.00
51.00
66.67
ENLOGS South East Kft.
Expurgo GmbH
G + D Gesellschaft für
Energiemanagement mbH
Budapest / Hungary
Magdeburg
Magdeburg
100.00
100.00
51.00
GETEC
GETEC
GETEC
GETEC
GETEC
GETEC
HEADQUARTERS
heat & power AG
ENERGIE AG
net AG
green energy AG
WÄRME & EFFIZIENZ AG
media AG
metering GmbH
net alpha GmbH & Co. KG
net beta GmbH & Co. KG
net eta GmbH & Co. KG
net gamma GmbH & Co. KG
net delta GmbH & Co. KG
net epsilon GmbH & Co. KG
net zeta GmbH & Co. KG
Polska Sp. z o.o.
Service GmbH
Service Berlin GmbH
SHARES IN %
INITIAL CONSOLIDATION
Vienna / Austria
100.00
31/12/2010
GEM Gesellschaft für Energieversorgung
und -management mbH
Dietlikon / Switzerland
100.00
31/12/2008
G + G Energiemanagement GmbH
German Pellets Wärme GmbH
GEWI AG
home LSM GmbH
Idener Gemeindewerk GmbH
LEHNINER Fernwärme und Betriebs GmbH
TELE AG
VERITAS GmbH
Frankfurt/Main
Magdeburg
Hanover
Magdeburg
Iden
Kloster Lehnin
Leipzig
Magdeburg
74.90
80.00
81.275
100.00
100.00
100.00
100.00
100.00
31/12/2015
31/12/2011
31/12/2009
31/12/2015
31/12/2010
31/12/2010
31/12/2014
31/12/2015
COMPANY
HEADQUARTERS
GEM Gesellschaft für Energieversorgung
und -management mbH
The following were included in the financial statements for the group as associated companies:
Betreibergesellschaft
Biogasanlage Möckern GmbH
Möckern
33.33
31/12/2010
31/12/2010
31/12/2010
31/12/2014
31/12/2010
31/12/2010
31/12/2014
Biogas Fuhsetal GmbH & Co. KG
Borchers Biomassekraftwerk GmbH
Coulomb GmbH
EKZ GETEC AG
EnerTec Lengede GmbH
GERO Solarpark GmbH
KG Energo s.r.o.
Magdeburger Bau- und
Schulservice GmbH
Lengede
Borken
Munich
Dietikon / Switzerland
Lengede
Amsdorf / Magdeburg
Prague / Czech Republic
Magdeburg
25.10
50.00
50.00
50.00
50.00
50.00
50.00
40.00
31/12/2013
31/12/2010
31/12/2014
31/12/2011
31/12/2013
31/12/2012
31/12/2014
31/12/2010
31/12/2009
31/12/2012
31/12/2013
smart Energy Services GmbH
Telekabel Riesa GmbH
VERBUND GETEC
Energiecontracting GmbH
Vienna / Austria
Riesa
Vienna / Austria
50.00
26.00
50.00
31/12/2014
31/12/2015
31/12/2015
Windpark Zerbst GmbH
Zerbst / OT Lietzo
50.00
31/12/2014
72
GROUP OVERVIEW
AND LOCATIONS
73
GETEC Contracting GmbH | VERITAS GmbH
GE TEC he at & p ower AG
GETEC Benelux B.V. | GETEC Industriegase GmbH | GETEC Industrieservice GmbH |
Anhaltinische Gas GmbH | Betreibergesellschaft Biogasanlage Möckern GmbH |
Bioenergie Wächstersbach GmbH | BMHKW Torgau GmbH | Borchers Biomassekraftwerk GmbH | Carbotechnik Energiesysteme GmbH | EKZ GETEC AG |
Expurgo GmbH | GEM Gesellschaft für Energieversorgung und -management mbH |
KG Energo s.r.o. | Idener Gemeindewerk GmbH | LEHNINER Fernwärme und
Betriebs GmbH | Magdeburger Bau- und Schulservice GmbH | VERBUND GETEC
Energiecontracting GmbH | GETEC Polska Sp. z o.o
BÜTTEL
HAMBURG
GOLDENSTEDT
GE TEC EN ERGI E AG
GETEC Climate Projects GmbH | GETEC Daten- und Abrechnungsmanagement
GmbH | GETEC Industriegase GmbH | GETEC Kraftwerk Verwaltungs GmbH |
IDEN
BERLIN
HANOVER
A MSTERDA M
OSNABRÜCK
Coulomb GmbH | ENLOGS South East Kft. | GEM Gesellschaft für Energieversorgung und -management mbH | Gemeinschaftskraftwerk Büttel GmbH & Co. KG |
GEWI AG | smart Energy Services GmbH | smart Energy Personal GmbH | Enbase
Power GmbH
LEHNIN
LENGEDE
TUREK
MAGDEBURG
MÖCKERN
ZERBST
BORKEN
GE TEC net AG
AMSDORF
DORTMUND
LEIPZIG
GETEC AREALNETZ GmbH | GETEC KOMMUNALPARTNER GmbH | GETEC metering
GmbH | GETEC net alpha GmbH & Co. KG | GETEC net beta GmbH & Co. KG | GETEC
net gamma GmbH & Co. KG | GETEC net delta GmbH & Co. KG | GETEC net epsilon
GmbH & Co. KG | GETEC net zeta GmbH & Co. KG | GETEC net eta GmbH & Co. KG
RIESA
WEIMAR
COLOGNE
WÄC H T E R S B AC H
F R A N K F U R T/M .
GE TEC gre en energy AG
PR AGUE
Biogas Fuhsetal GmbH & Co. KG | EnerTec Lengede GmbH | GERO Solarpark GmbH |
Windpark Zerbst GmbH
KARLSRUHE
GETEC home GmbH | GETEC Service GmbH | G + D Gesellschaft für Energiemanagement mbH | German Pellets Wärme GmbH | GETEC Service Berlin GmbH |
home LSM GmbH | Bayernwärme GmbH | G+G Energiemanagement GmbH | GETEC
MESSDIENST Vertrieb & Service GmbH | GETEC MESSDIENST GmbH
VIENNA
AUGSBURG
MUNICH
BUDAPEST
GERETSRIED
Communication Concept Gesellschaft für Kommunikationstechnik mbH | TELE AG |
Telekabel Riesa GmbH
ZURICH
PÉSC
GE TEC me dia AG
GETEC GROUP
2015
KEY FIGURES
2015
2014
million euro
262.9
231.1
million euro
26.5
21.3
EQUIT Y CAPITAL
million euro
106.6
96.5
78
79
BALANCE SHEET
ASSETS
B. FIXED ASSETS
2015
EUR
2014
EUR
0.00
0.00
76,919,601.06
87,577,509.56
3,031,710.22
3,214,251.04
2015
EUR
2014
EUR
106,551,243.08
96,474,076.46
25,000,000.00
25,000,000.00
2,897.23
2,897.23
25,935,284.27
22,047,335.16
-50.89
0.00
52,879,376.56
46,698,155.90
2,733,735.91
2,725,688.17
63,294.22
63,294.22
1,058,000.00
868,000.00
2,373,476.20
2,520,674.69
A. EQUIT Y
II. Capital reserve
II. Tangible assets
63,910,849.48
74,385,790.79
9,977,041.36
9,977,467.73
142,954,634.96
108,415,390.84
7,058,498.45
8,024,206.12
105,652,473.85
77,501,867.32
0.00
0.00
30,243,662.66
22,889,317.40
D. SPECIAL ITEMS
1,454,029.32
1,583,932.32
E. SPECIAL RESERVES
10,841,604.72
9,721,506.73
218,685.60
503,845.47
F. LIABILITIES
99,067,640.26
86,801,354.86
1,475,606.46
1,597,493.29
116,086.00
34,277.94
221,546,950.94
198,080,678.19
C. CURRENT ASSETS
III. Securities
IV. Liquid assets
D. ACCRUED INCOME
G. DEFERRED INCOME
TOTAL
221,546,950.94
198,080,678.19
TOTAL
80
PROFIT AND
LOSS STATEMENT
2015
EUR
2014
EUR
254,518,670.96
220,034,431.00
562,128.04
-1,039,866.51
226,031.11
647,846.83
7,548,918.92
11,478,703.29
262,855,749.03
231,121,114.61
186,556,941.34
159,060,082.57
16,502,228.84
16,946,631.86
10,309,896.84
9,820,818.86
23,264,918.37
24,206,223.66
26,221,763.64
21,087,357.66
300,425.30
247,089.98
26,522,188.94
21,334,447.64
-168.72
-303.08
8,802,114.67
6,718,170.00
17,719,905.55
14,615,974.56
46,614,720.54
43,411,821.37
197,604.11
213,015.39
3,962,743.46
3,969,565.82
17. Dividend payout
7,294,901.96
7,147,058.82
52,879,376.56
46,698,155.90
1. Turnover
9. Financial result
12. Taxes on income
18.Net profit
Volker Schulz, Dipl.-Ing., Chief Executive Officer
Hans-Marcus Knoll, Dipl.-Ing. (FH), Technology and Operations Director
AU T H O RISED S I GN ATO RY
Michael Fitzke, Dipl.-Ing.
Pierre Hörler, Dipl.-Ing.
Heiko Lippelt, Dipl.-Ing.
Reno Schröder, Dipl.-Ing.
Sebastian Isenberg, Lawyer
C O N TAC T
Albert-Vater-Straße 50, D-39108 Magdeburg
Phone +49 391 2568-100, Fax +49 391 2568-120
[email protected]
www.getec-heat-power.de
81
2015
KEY FIGURES
2015
2014
million euro
443.0
430.9
million euro
6.5
7.0
EQUIT Y CAPITAL
million euro
19.0
16.6
84
85
BALANCE SHEET
ASSETS
B. FIXED ASSETS
2015
EUR
2014
EUR
0.00
0.00
3,257,098.40
3,513,389.89
563,105.04
652,121.56
A. EQUIT Y
II. Tangible assets
1,954,183.87
2,090,534.50
743,716.86
770,733.83
61,120,725.52
67,477,537.85
168,146.88
30,173.61
49,753,574.30
54,510,880.20
0.00
0.00
11,199,004.34
12,936,484.04
329,068.69
333,933.12
2,710,453.91
3,931,510.25
C. CURRENT ASSETS
III. Securities
IV. Liquid assets
D. ACCRUED INCOME
75,256,371.11
16,637,071.21
10,000,000.00
9,020,000.00
II. Capital reserve
310,000.00
310,000.00
690,000.00
690,000.00
44,214.27
-65,429.05
8,236,050.36
6,971,632.34
-324,271.32
-289,132.08
0.00
0.00
0.00
0.00
D. SPECIAL ITEMS
0.00
0.00
4,734,097.58
7,369,683.62
43,727,865.87
51,249,616.28
3,297.13
0.00
0.00
0.00
67,421,253.89
75,256,371.11
E. SPECIAL RESERVES
F. LIABILITIES
67,421,253.89
18,955,993.31
G. DEFERRED INCOME
TOTAL
2014
EUR
2015
EUR
TOTAL
86
PROFIT AND
LOSS STATEMENT
2015
EUR
2014
EUR
441,845,439.24
429,102,224.67
0.00
0.00
0.00
0.00
1,124,379.67
1,791,014.39
442,969,818.91
430,893,239.06
417,571,893.15
403,839,399.50
12,796,244.44
12,732,772.81
713,491.52
1,224,680.38
5,415,641.45
5,750,530.31
6,472,548.35
7,345,856.06
137,173.47
-369,510.55
6,609,721.82
6,976,345.51
0.00
0.00
2,296,031.22
2,401,172.34
9,411.82
9,285.53
4,304,278.78
4,565,887.64
6,971,632.34
5,118,657.24
39,860.76
-287,087.46
0.00
0.00
3,000,000.00
3,000,000.00
8,236,050.36
6,971,632.34
1. Turnover
9. Financial result
12. Taxes on income
13. Other taxes
18. Dividend payout
19.Net profit
Bernward Peters, Dipl.-Kfm., Chief Executive Officer
Christian Holtmann, Dipl.-Kfm., Chief Operations Officer
Götz-Friedrich Wedde, Dipl.-Kfm., Chief Financial Officer
Oliver Mävers, Dipl.-Ing.
Steffen Schlumbohm, Dipl.-Wirtsch.-Ing.
Manuel Telle, Betriebswirt (VWA)
C O N TAC T
GETEC ENERGIE AG
Expo Plaza 10, D-30539 Hanover
Phone +49 511 51949-100, Fax +49 511 51949-197
[email protected]
www.getec-energie.de
87
2015
KEY FIGURES
2015
2014
million euro
35.8
31.8
million euro
2.9
1.6
EQUIT Y CAPITAL
million euro
7.6
5.8
90
91
BALANCE SHEET
ASSETS
2015
EUR
2014
EUR
0.00
0.00
22,289,129.30
20,203,609.80
641,387.00
779,092.57
21,647,742.30
19,424,517.23
0.00
0.00
13,551,327.76
12,711,055.07
305,424.80
180,069.88
8,820,681.80
9,995,064.27
0.00
0.00
IV. Liquid assets
4,425,221.16
D. ACCRUED INCOME
B. FIXED ASSETS
II. Tangible assets
C. CURRENT ASSETS
III. Securities
A. EQUIT Y
2014
EUR
7,644,511.46
5,790,258.88
1,000,000.00
1,000,000.00
II. Capital reserve
1,250,000.00
1,250,000.00
184,601.66
139,369.99
IV. Retained earnings
5,209,909.80
3,295,016.52
V. Other shareholders’ participations
0.00
105,872.37
B. DIFFERENCE RESULTING
FROM CONSOLIDATION OF FUNDS
0.00
0.00
0.00
0.00
D. SPECIAL ITEMS
4,020,495.50
3,927,933.56
2,535,920.92
E. SPECIAL RESERVES
5,479,286.51
6,103,847.47
763,604.51
824,681.14
F. LIABILITIES
19,914,610.31
18,476,780.21
492,996.00
582,540.14
G. DEFERRED INCOME
38,153.79
23,066.03
0.00
0.00
37,097,057.57
34,321,886.15
TOTAL
2015
EUR
37,097,057.57
34,321,886.15
TOTAL
92
PROFIT AND
LOSS STATEMENT
2015
EUR
2014
EUR
33,868,491.18
30,045,917.70
57,939.39
0.00
462,869.16
464,125.20
1,392,304.35
1,326,293.63
35,781,604.08
31,836,336.53
25,378,847.79
24,171,864.61
3,275,957.03
2,888,087.12
1,643,126.16
1,390,560.34
2,313,716.53
1,616,299.83
3,169,956.57
1,769,524.63
-261,600.62
-205,284.03
2,908,355.95
1,564,240.60
0.00
0.00
993,462.67
493,557.22
1,914,893.28
1,070,683.38
3,295,016.52
2,286,937.34
0.00
-5,366.34
0.00
67,970.54
5,209,909.80
3,295,016.52
1. Turnover
9. Financial result
12. Taxes on income
17. Net profit
Heiko Mevert, Dipl.-Ing. (FH), Chief Executive Officer
Dr. Karl Gerhold, Chief Financial Officer
Olaf Beyer, Dipl.-Ing. (FH), Chief Operations Officer
C O N TAC T
GETEC net AG
An der Börse 4, D-30159 Hanover
Phone +49 511 121088-60, Fax +49 511 121088-91
[email protected]
www.getec-net.de
93
2015
KEY FIGURES
2015
million euro
30.7
29.6
million euro
3.2
2.3
EQUIT Y CAPITAL
million euro
8.4
8.2
* The 2014 data include the figures for IGEA Ingenieurgesellschaft für Erschließung- und Anlagenplanung mbH,
which was sold per 01/01/2015.
2014 *
96
97
BALANCE SHEET
ASSETS
2015
EUR
2014 *
EUR
0.00
0.00
1,653,049.31
2,799,118.37
152.00
17,254.00
A. EQUIT Y
8,179,841.63
1,000,000.00
1,000,000.00
0.00
0.00
164,980.17
164,980.17
0.00
0.00
7,196,843.62
6,702,790.42
0.00
312,071.04
0.00
0.00
0.00
0.00
D. SPECIAL ITEMS
0.00
0.00
485,515.28
909,885.73
3,322,394.65
4,271,627.65
G. DEFERRED INCOME
0.00
892.55
0.00
0.00
12,169,733.72
13,362,247.56
II. Tangible assets
823,897.31
679,030.75
829,000.00
2,102,833.62
10,418,830.03
9,905,148.24
22,727.15
1,305,672.52
8,005,341.63
7,395,085.72
0.00
0.00
2,390,761.25
1,240,390.00
D. ACCRUED INCOME
40,580.98
35,436.84
57,273.40
622,544.11
II. Capital reserve
C. CURRENT ASSETS
III. Securities
IV. Liquid assets
TOTAL
12,169,733.72
13,362,247.56
E. SPECIAL RESERVES
F. LIABILITIES
TOTAL
2014 *
EUR
8,361,823.79
B. FIXED ASSETS
2015
EUR
98
PROFIT AND
LOSS STATEMENT
2015
EUR
2014 *
EUR
1. Turnover
32,025,581.30
19,490,642.74
-1,464,021.59
9,630,078.43
0.00
0.00
163,020.98
428,706.05
30,724,580.69
29,603,427.22
26,008,954.54
23,144,921.83
1,505,368.69
2,937,947.05
90,404.83
110,246.37
721,441.45
1,011,104.34
2,398,411.18
2,399,207.63
808,648.93
-73,478.46
3,207,060.11
2,325,729.17
0.00
0.00
794,204.07
621,447.78
2,412,856.04
1,704,281.39
4,783,987.58
4,546,915.27
0.00
12,175.93
16. Elimination of intercompany profit and loss
0.00
-463,769.69
0.00
0.00
18. Dividend payout
0.00
0.00
7,196,843.62
6,702,790.42
9. Financial result
12. Taxes on income
19.Net profit
Chris Döhring, Dipl.-Ing.
Marcel Schöbel, Dipl.-Ing.
Ralf Schmidt, Dipl.-Ing.
C O N TAC T
An der Steinkuhle 2b - 2c, D-39128 Magdeburg
Phone +49 391 2568-400, Fax +49 391 2568-419
[email protected]
www.getec-greenenergy.de
99
2015
KEY FIGURES
2015
2014
million euro
87.8
71.8
million euro
1.7
0
EQUIT Y CAPITAL
million euro
3.7
1.5
10 2
10 3
BALANCE SHEET
ASSETS
B. FIXED ASSETS
2015
EUR
2014
EUR
0.00
0.00
30,303,320.53
8,373,233.76
1,830,048.39
2,002,371.53
A. EQUIT Y
II. Tangible assets
28,473,272.14
6,370,862.23
0.00
0.00
16,858,892.84
14,023,645.52
C. CURRENT ASSETS
1,000,000.00
30,229.67
6,662.13
III. Retained earnings
391,823.06
-92,986.98
IV. Other shareholders’ participations
2,303,653.02
565,079.87
125,039.79
125,039.79
0.00
0.00
104,655.72
107,866.25
2,143,607.77
1,666,455.97
41,014,151.72
18,315,224.58
443,856.90
798,117.75
0.00
0.00
47,557,017.65
22,491,459.36
8,511,796.20
8,363,209.94
D. SPECIAL ITEMS
III. Securities
0.00
0.00
IV. Liquid assets
7,321,102.01
4,280,392.82
56,526.07
32,264.26
G. DEFERRED INCOME
338,278.21
62,315.82
47,557,017.65
22,491,459.36
1,000,000.00
II. Surplus reserves
1,380,042.76
1,478,755.02
1,025,994.63
TOTAL
3,725,705.75
2014
EUR
D. ACCRUED INCOME
2015
EUR
E. SPECIAL RESERVES
F. LIABILITIES
TOTAL
10 4
PROFIT AND
LOSS STATEMENT
2015
EUR
2014
EUR
84,672,925.44
69,810,004.96
-481,262.36
11,983.28
1,635,543.29
735,227.81
1,992,414.48
1,201,580.04
87,819,620.85
71,758,796.09
68,572,873.71
59,878,487.75
9,624,457.89
7,509,838.91
1,992,373.63
766,133.02
5,695,090.79
3,525,767.32
1,934,824.83
78,569.09
-199,754.84
-33,825.72
1,735,069.99
44,743.37
0.00
0.00
656,369.26
103,774.12
1,078,700.73
-59,030.75
-92,986.98
-2,376.12
570,323.15
24,917.98
23,567.54
6,662.13
391,823.06
-92,986.98
1. Turnover
9. Financial result
12. Taxes on income
13.Profit / loss for the year
17. Net profit
Michael Lowak, Dipl.-Ing., Chief Executive Officer
Heike Zembrod, Dipl.-Ing., Chief Technology Officer
Markus Stoll, Chief Operations Officer
Thomas Otto, Lawyer
Dennis Holland, Dipl.-Ing. (FH)
C O N TAC T
Phone +49 391 2568-101, Fax +49 391 2568-120
[email protected]
www.getec-waerme-effizienz.de
10 5
2015
KEY FIGURES
GETEC media AG
2015
2014
million euro
8.3
7.7
million euro
1.1
2.6
EQUIT Y CAPITAL
million euro
1.9
1.8
10 8
10 9
BALANCE SHEET
ASSETS
2015
EUR
2014
EUR
0.00
0.00
9,299,159.30
9,533,802.41
8,683,481.86
8,971,494.41
2015
EUR
2014
EUR
1,909,639.63
1,832,887.36
1,000,000.00
1,000,000.00
0.00
0.00
52,718.28
43,114.13
IV. Retained earnings
516,591.21
695,308.40
V. Other shareholders’ participations
340,330.14
94,464.83
426,611.35
426,611.35
0.00
0.00
D. SPECIAL ITEMS
0.00
0.00
334,463.99
445,560.81
10,544,867.59
10,129,277.51
33,187.22
4,900.00
0.00
0.00
13,248,769.78
12,839,237.03
A. EQUIT Y
B. FIXED ASSETS
II. Capital reserve
II. Tangible assets
574,200.85
562,308.00
41,476.59
0.00
3,610,815.28
3,227,499.23
220,101.74
124,165.86
2,100,604.55
1,658,923.95
0.00
0.00
1,290,108.99
1,444,409.42
27,237.55
37,906.24
F. LIABILITIES
311,557.65
40,029.15
G. DEFERRED INCOME
C. CURRENT ASSETS
III. Securities
IV. Liquid assets
D. ACCRUED INCOME
E. SPECIAL RESERVES
TOTAL
13,248,769.78
12,839,237.03
GETEC media AG
TOTAL
11 0
PROFIT AND
LOSS STATEMENT
2015
EUR
2014
EUR
8,055,728.79
7,603,337.12
0.00
0.00
51,082.31
0.00
184,500.46
86,456.68
8,291,311.56
7,689,793.80
3,801,282.47
2,624,598.03
1,372,077.38
1,031,887.17
986,671.86
846,504.96
797,510.77
511,706.17
1,333,769.08
2,675,097.47
-184,076.89
-58,174.96
1,149,692.19
2,616,922.51
0.00
0.00
644,051.03
1,051,215.27
505,641.16
1,565,707.24
695,308.40
0.00
245,865.31
12,344.28
9,604.15
43,114.13
428,888.89
814,940.43
516,591.21
695,308.40
1. Turnover
9. Financial result
12. Taxes on income
17. Dividend payout
18.Net profit
GETEC media AG
Markus Stoll
Götz Bittner, Dipl.-Kfm.
C O N TAC T
GETEC media AG
Phone +49 391 50860-600, Fax +49 391 56860-699
[email protected]
www.getec-media.de
111
11 2
IMPRINT
Publisher
Dr. Karl Gerhold
Albert-Vater-Straße 50
39108 Magdeburg
Germany
Phone +49 391 2568-130
Fax
+49 391 2568-120
[email protected]
www.getec.de
Person responsible according to the German press law
Franziska Artz
Christian Faßelt
Concept, editing and design
genese Werbeagentur GmbH
Printer
Stelzig-Druck
Quote
*Peter Ferdinand Drucker: Managing for Business Effectiveness,
Harvard Business Review, No. 3, May/June 1963, p. 53-60.
Photos
Michael Bader
This annual report is printed on FSC-certified material and produced in
Saxony-Anhalt with environmental sustainability in mind.
W W W.G E T E C . D E

GETEC GROUP

Transcription

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