Alpiq specifies its restructuring programme

(PresseBox) (Olten, ) The Board of Directors and the Executive Board of Alpiq Holding AG (Alpiq) see a need for further adjustments based upon the ongoing difficult market conditions and the profound changes in the European energy landscape. The company will focus even more consistently on its core business, further simplify the organisation and foresees cost reductions of more than 100 million Swiss francs per year. This focussing also leads to value adjustments of around 1.4 billion Swiss francs.

In spite of the proceeds realised from the divestments and the cost savings achieved during the current business year, the Board of Directors and the Executive Board of Alpiq see, as announced, a need for further adjustments based on the ongoing difficult market and underlying conditions and the profound changes in the European energy landscape. Therefore, Alpiq will in future concentrate even more consistently on its core business.

Alpiq as reliable generator of electricity and innovative service provider

With its modern and flexible portfolio of electricity generation plants, Alpiq generates largely CO2-free electricity and sells this to large customers and distribution partners. By offering comprehensive services and innovative solutions in the fields of energy management and energy efficiency, Alpiq takes advantage of the opportunities offered by the changes in the underlying conditions. With Alpiq InTec, the company already holds a leading position in this field in Switzerland and intends to expand it further.

Focussing and simplification of the organisation reduces costs

As a result of the divestments and in the course of this focussing, Alpiq will simplify its organisation even further and give it a functional orientation. The company structure, valid as of 1 January 2013, is with its three Business Divisions Generation, Commerce & Trading and Energy Services, oriented along the value chain. Processes and systems will be adapted accordingly.

In relation to this, Alpiq plans to make additional annual savings as of the end of 2014 of more than 100 million Swiss francs.

Value adjustment will burden the annual results

On the basis of updated price expectations, value adjustments of approximately 1.4 billion Swiss francs can be expected during the course of the preparation of the annual financial statements. This will lead to a clear loss for the business year 2012. Additional measures are under review, including the possibility of a capital increase as announced on 6 December 2012.

Kontakt

Alpiq Holding Ltd.
Bahnhofquai 12
CH-4601 Olten
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