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The energy industry is in a state of upheaval. The focus will shift to decentralised, renewable energy, investments in grid infrastructure and new digital customer solutions. Our vision is to build the leading energy company in northern Germany by 2026. We aim to fulfil our economic responsibility towards all of our stakeholders through prospective investments and long-term profitability.

Finance
Economic responsibility *NFS*

Concept

We will use our financial strength and financial management to finance and control our operational business and our growth. Our 2026 strategy forms the framework of our business activities. We monitor and control their economic success and therefore the financial capacity of the Group by systematically monitoring risks through financial indicators and processes (see ‘Internal Management System’ in the combined management report). Continuous controlling and reporting enables us to implement suitable corrective measures in the event of deviations. Additionally, we follow our investment and project guidelines in order to ensure that our investments generate value.

By focusing on economic success and value growth, we are fulfilling our economic responsibility and making our contribution to society, e.g. through taxes, wages and salaries, without strategically controlling the distribution of the created value.

Selected measures in 2017

Investments

As part of our growth strategy, we have increased our investments in our telecommunications networks by 55.6 per cent over the previous year to 49.8 million euros. Overall, at 196.9 million euros, our investments in our infrastructure of electricity, gas and telecommunications networks are on a similar level to 2016. Driven by large-scale projects such as broadband expansion in north-western Germany, we will continue to increase our investments over the next three years.

Through the results we have achieved (see ‘Segment Performance’ in the management report) and investments we have made, we have strengthened the basis for future value creation in our other segments too.

Value creation EWE Group *NFE*   2017 2016
in millions of euros

Directly generated economic value in 2017

Revenue (excluding electricity and energy taxes) 8,250.5 7,566.3
Breakdown of economic value

Material expenses -6,333.6 -5,761.7
Personnel expenses -711.9 -722.5
Interest expenses -158.7 -219.5
Income taxes
-128.6 -119.5



Donations 2.8

 

Value creation EWE AG *NFE*   2017 2016
in millions of euros

Directly generated economic value in 2017

Revenue (excluding electricity and energy taxes) 155.6 148.2
Breakdown of economic value

Material expenses -79.6 -68.6
Personnel expenses -61.6 -69.7
Interest expenses -82.3 -146.5
Dividends
-88.0 -225.5
Income taxes
-83.1 -67.6



Spenden1 0.1

1 Of this amount, 36,341 euros is attributable to monetary donations, 36,070 euros to donations in kind and 72,000 euros to membership fees that were only recognised as donations for tax reasons

With a directly generated economic value in excess of 8 billion euros in 2017, EWE bears a great responsibility towards numerous regional stakeholders. For example, we are a key employer in the Weser-Ems region. The personnel expenses reflect the employment of 9,134 personnel. Additionally, over 75 per cent of the generated value is used to procure materials and services. We are able to pay our shareholders an annual dividend (88.0 million euros in 2017) which amounted to 225.5 million euros in the previous year due to a special distribution.