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Report of the month

March 2011
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EVN

Maria Enzersdorf, Austria



Report Facts

Company name: EVN AG
Fiscal year end: September 30, 2010
Report title: Figures. Data. Facts.
Welcome to Climate Change.
Chief Executive Officer: Burkhard Hofer
Chairman of Supervisory Board: Rudolf Gruber
Number of books: 2
Report length: 148 pages + 82 pages
Auditors: KPMG Austria
Website: http://www.evn.at/investor.aspx
Design: Mensalia
IR e-mail: klara.szekffy@evn.at; doris.laschalt@evn.at

Report Rating

4/5

(Rating scale below)

Profile-Services

... a leading, international and publicly listed energy and environmental services company, with headquarters in Lower Austria... we offer our customers electricity, gas, heat, water, waste incineration and related services from a single supplier.... we safeguard and improve the quality of life of our more than 3.6 million energy customers.
(Source: Annual Report) (Italics are own company’s words)

Key Figures

Revenue: EUR 2,752.1 million
EBITDA: EUR 416.6 million
Net profit: EUR 207 million
Earnings per share: EUR 1.27
Dividend per share: EUR 0.40
Return on equity: 7.4%
Gearing: 48.2%
EBITDA margin: 15.1%
(2010 figures sourced from the annual report)

Peers & Rivals

  • E.On
  • RWE
  • Vattenfall
  • Energie Baden Württemberg
  • Fortum
  • MVV Energie
  • GDF Suez
  • ...
 

Triple A

> Key figures are best placed (inside front cover) and most comprehensive: 40-odd indicators, over 5 years, clearly structured, rich in well-selected ratios, supported with charts that show medium-term trends.
> The magazine-leaning book is both a pleasant and interesting read, made up of a mix of news, snapshots, facts, eye-catching pictures, and insights into the climate change challenges -also explained through interviews with specialists- and how EVN tackles them.
 

Double A

> Well-managed two-book reporting policy, consisting of a thematic and topical document built in a magazine style and a more formal and well-structured annual report. Both are packed together under the name Full Report (covers shown above and as selected page).
> Effective use of most covers and introduction, with a daring message and a good blend of images and data.
> The CEO signs off an Editorial and is one of the Executive Board members answering questions in an interview addressing strategic and operational issues and animated with very nice photo shots.
 

Simple A

> The online version is OK yet not fully optimized. But the Quick Analyser does a worthwhile job.
> Core report’s layout is more conventional and readability is not maximized due to a one-column grid.
> Management report does its job but financial condition and liquidity matters might deserve more attention.
> Most important risks and measures designed to minimise them are summed up yet could be more developed.
> Laudable effort to integrate sustainability issues. But targets are not always clearest, and no figures are highlighted.
 

B Sides

> The “full-full” report is almost 250 pages long. As a consolation, many are longer, and often in one book.
 

How does the company report in key areas? What are the main report pluses and minuses? The Report Scan gives an overview of strengths and weaknesses, and scores each item.
Contact e.com@reportwatch.net

 

Selected Page

(Front cover of EVN Full Report 2009/10 + P 21 of EVN Full Report 2009/10)
Front cover of EVN Full Report 2009/10 + P 21 of EVN Full Report 2009/10
Rating Scale
5
First-Rate
4.5
Excellent
4
Very good
3.5
Sound
3
Average
2.5
Uneven
2
Common
1.5
Substandard
1
Poor
0.5
Uncompetitive
The rating is based on ReportWatch internal desk research and does not take into account the independent Rating Panel’s judgment.