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Segment reporting

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61. Segment reporting EURmGenerationEnergy Trade and SupplyNetwork Infrastructure AustriaEnergy Supply South East Europe
2015/162014/152015/162014/152015/162014/152015/162014/15
External revenue46.052.7448.5470.9434.2412.8949.41,037.9
Internal revenue (between segments)175.7160.415.014.958.759.20.30.2
Total revenue221.7213.1463.4485.8492.9472.0949.71,038.1
Operating expenses–113.5–119.7–553.8–558.7–272.3–270.8–820.2–917.4
Share of results from equity
accounted investees operational
–34.1–24.662.170.0
EBITDA74.168.7–28.3–2.9220.6201.2129.5120.7
Depreciation and amortisation–69.2–79.2–17.4–17.7–110.3–105.6–94.1–62.9
thereof impairment losses–15.9–24.5–2.1–3.3–0.1–31.3–0.5
thereof revaluation1.42.62.40.1
Results from operating activities
(EBIT)
4.8–10.5–45.7–20.6110.395.535.457.8
EBIT margin (%)2.2–4.9–9.9–4.222.420.23.75.6
Share of results from equity
accounted investees financial
Interest income0.90.50.20.20.20.10.40.5
Interest expense–20.7–22.9–4.2–1.9–17.7–17.6–23.7–26.3
Financial results–22.4–18.2–4.7–5.0–17.5–17.4–23.3–26.1
Result before income tax–17.6–28.7–50.3–25.692.878.112.131.7
Goodwill0.51.81.8
Carrying value of investments in
equity accounted investees
79.7110.1146.6130.5
Total assets1,094.51,157.2682.0612.81,883.51,831.51,184.11,276.0
Liabilities845.0959.1585.1518.71,357.11,294.81,006.31,119.2
Investments1)33.854.426.022.7154.7160.293.578.5
61. Segment reporting EURmEnvironmental ServicesStrategic Investments
and Other Business
Consolidation2)Total
2015/162014/152015/162014/152015/162014/152015/162014/15
External revenue158.4152,310.19.32,046.62,135.8
Internal revenue (between segments)18.320,358.155.4–326.1–310.5
Total revenue176.8172,668.264.7–326.1–310.52,046.62,135.8
Operating expenses–137.0–129,5–74.8–75.2436.1377.7–1,535.6–1,693.6
Share of results from equity
accounted investees operational
13.311,952.283.893.5141.1
EBITDA53.155,145.673.2109.967.2604.4583.2
Depreciation and amortisation–25.8–26,4–1.6–2.7–25.6–20.4–344.0–315.0
thereof impairment losses–0.0*)–1.2–32.6–27.6–82.0–57.1
thereof revaluation4.12.4
Results from operating activities
(EBIT)
27.328,643.970.584.346.8260.4268.2
EBIT margin (%)15.516,664.4109.012.712.6
Share of results from equity
accounted investees financial
–8.70.4–8.70.4
Interest income10.514,931.931.1–27.3–25.716.721.7
Interest expense–9.8–21,6–28.6–26.527.325.7–77.4–91.1
Financial results–2.5–7,622.130.6–13.4–16.6–61.6–60.3
Result before income tax24.821,066.1101.171.030.1198.9207.9
Goodwill54.054,055.856.3
Carrying value of investments in
equity accounted investees
97.888,3601.7569.3925.8898.1
Total assets895.1940,62,720.82,580.4–1,903.5–1,897.36,556.56,501.2
Liabilities687.1751,11,226.51,115.2–1,921.2–1,847.13,785.83,911.1
Investments1)8.411,11.92.5–2.9–6.7315.4322.7
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61. Segment information by products – revenue EURm2015/162014/15
Electricity1,472.81,522.8
Natural gas161.1203.0
Heat125.2133.1
Environmental services158.4152.3
Others129.0124.7
Total2,046.62,135.8
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61. Segment information by country – revenue1) EURm2015/162014/15
Austria1,025.61,022.7
Germany52.547.5
Bulgaria568.2638.4
Macedonia382.3401.5
Others18.025.8
Total2,046.62,135.8
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61. Segment information by country –
non-current assets1)
30.09.201630.09.2015

EURm
Intangible assetsProperty, plant
and equipment
Intangible assetsProperty, plant
and equipment
Austria124.72,375.9122.42,329.7
Germany45.2328.745.5374.7
Bulgaria47.5480.548.4489.9
Macedonia3.7288.43.9283.2
Others0.0*)39.10.0*)38.7
Total221.23,512.5220.23,516.3

61. Notes to segment reporting

The segments of business cover the following activities:

Business areasSegmentsActivities
Energy business
GenerationElectricity generation from thermal sources and renewable energies at Austrian and international locations
 Energy Trade and SupplyProcurement of electricity and primary energy carriers, trading and sale of electricity and natural gas to end customers and on wholesale markets as well as heat generation and sale
 Network Infrastructure AustriaOperation of regional electricity and natural gas networks as well as cable TV and telecommunications networks
 Energy Supply South East EuropeOperation of electricity networks and electricity sales to end customers in Bulgaria and Macedonia, heat generation and sale in Bulgaria, electricity production in Macedonia, construction and operation of natural gas networks in Croatia, energy trading throughout the entire region
Environmental services business
Environmental ServicesDrinking water supply, wastewater disposal and thermal waste utilisation in Austria, combined cycle heat and power co-generation plants in Moscow as well as international project business
Other business
Strategic Investments and
Other Business
Strategic and other investments, corporate services

Principle of segment allocation and transfer pricing

Subsidiaries are allocated directly to their respective segments. EVN AG is allocated to the segments on the basis of data from the cost accounting system.

The transfer prices for energy between the individual segments are based on comparable prices for special contract customers, and thus represent applicable market prices. For the remaining items, pricing is based on cost plus an appropriate mark-up.

Reconciliation of segment results at the Group level

Services performed between segments are eliminated in the consolidation column. The results in the “total” column reflect the amounts shown in the consolidated statement of operations. Also included are transition amounts, which result from the difference between the viewpoints of the Generation and Energy Trade and Supply Segments and the Group with respect to the inclusion of Steag-EVN Walsum as a joint operation. The Generation Segment has not identified any signs of impairment to its proportional investment in the power plant resulting from the inclusion of Steag-EVN Walsum as a joint operation, and the Energy Trade and Supply Segment has already recognised provisions for onerous contracts connected with the marketing of its electricity production. In contrast, an impairment charge is required from the Group‘s point of view. These circumstances led to a transition of EUR 84.3m (previous year: EUR 46.8m) from the segment total to Group EBIT.

Group disclosures

IFRS 8 requires additional segment information classified by products (external revenues from customers broken down by products and services) and countries (external revenues from customers and non-current assets broken down by countries) if this information is not provided as part of the segment reporting.

Information on transactions with major external customers is required only if these transactions amount to 10.0% or more of a company’s external revenues. EVN has no transactions with customers that meet this criterion because of its large number of customers and diverse business activities.

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