ANNUAL REPORT 2011 - DONG Energy

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notes 17 Associates and other securities DKK million 2011 2010 Revenue 2,134 4,867 Profi t 144 313 profi t attributable to DOnG Energy 36 77 Assets 13,470 13,417 Liabilities 1,344 2,324 Equity 12,126 11,093 Equity attributable to DOnG Energy 3,226 2,919 The accounting fi gures disclosed in the note have been determined on the basis of the recognised values in the Group. For 18 Inventories an overview of the Group’s ownership interests in associates, reference is made to note 42 in the complete annual report. DKK million 2011 2010 Raw materials and consumables 96 102 Fuel 1,158 1,125 Natural gas and crude oil 2,179 1,118 CO 2 emissions allowances 79 513 Green certifi cates 726 230 Other inventories 6 3 inventories at 31 December 4,244 3,091 The bulk of the inventories is expected to be used within one year. 92 96 COnsOliDatED finanCial statEmEnts – DONG ENERGY GROUP ANNUAL ANNUAL REPORT REPORT 2011 2011
19 Receivables DKK million 2011 2010 Receivables from associates 546 542 Receivables from jointly controlled entities 328 12 Receivables from the disposal of activities 108 103 Receivables from the disposal of equity investments to non-controlling interests 185 76 Assets held under fi nance leases 2.056 2.027 Other receivables 91 102 non-current receivables at 31 December 3.314 2.862 Trade receivables 7.634 9.451 Receivables from associates 11 2 Receivables from jointly controlled entities 542 259 Receivables from the disposal of activities 101 131 Receivables from the disposal of equity investments to non-controlling interests 1.160 1.664 Receivable capital contributions from non-controlling interests 2.103 2.212 Assets held under fi nance leases 38 73 Fair value of derivative fi nancial instruments, see note 33 16.060 14.461 Deposits 246 102 Construction contracts, see note 20 41 61 Other receivables 4.556 3.198 Current receivables at 31 December 32.492 31.614 Current and non-current receivables at 31 December 35.806 34.476 Other receivables include VAT, other indirect taxes, prepayments, etc. Apart from the fair value of derivative fi nancial instruments, current receivables fall due within one year of the close of the fi nancial year. The remaining maturity of derivative fi nancial instruments appears from note 33. Further details of credit risks associated with receivables are disclosed in the Credit risks section in the Risk and risk management chapter in Management’s review, pages 44-51, and in note 32. DONG ENERGY DONG ENERGY GROUP ANNUAL REPORT 2011 – COnsOliDatED finanCial statEmEnts 93 97 notes
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MOVING ENERGY FORWARD ANNUAL REPORT
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More reliable and clean energy DONG
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More reliable and clean energy Mode
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Q3 17 August signing of Eur 1.3 bil
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ifrs statement of comprehensive inc
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un Global Compact principle Climate
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Spearheading the development of the
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Waste is a valuable resource It is
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DONG Energy involves local operator
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The ambitious business strategy mea
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DONG Energy contributes to green gr
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The photo shows the Siri platform i
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The photo shows the construction of
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The photo shows one of the Group’
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Strong market insight from experien
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The photo shows a meter technician
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monthly average 2011 2010 ∆ Oil,
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Net finance costs amounted to DKK 0
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New presentation of profit for the
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Non-financial performance The Group
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volumes Generation from wind and hy
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was brought back online in October
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Further information on DONG Energy
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DONG Energy has a diversified loan
Page 49 and 50: Market and credit risks The Group
Page 51 and 52: isk and risk policy Exposure and he
Page 53 and 54: isk and risk policy Exposure and he
Page 55 and 56: Environment As an energy company, D
Page 57 and 58: Under Danish legislation, the Group
Page 59 and 60: information and communication DONG
Page 61 and 62: lars nØrBy JOHansEn Deputy Chairma
Page 63 and 64: pOul arnE niElsEn b. 1944. Joined t
Page 65 and 66: The Board of Directors and the Exec
Page 67 and 68: notes to the statement of cash flow
Page 69 and 70: DKK million Note Business perfor ma
Page 71 and 72: Equity and liabilities DKK million
Page 73 and 74: DKK million Share capital Hedging r
Page 75 and 76: DKK million Note 2011 2010 suppleme
Page 77 and 78: 02 Critical accounting estimates an
Page 79 and 80: The excess of the cost of the acqui
Page 81 and 82: • wind power: Development, constr
Page 83 and 84: Geographical breakdown 2011 DKK mil
Page 85 and 86: econciliations DKK million 2011 201
Page 87 and 88: emuneration of Board of Directors,
Page 89 and 90: 08 Fee to auditor appointed at the
Page 91 and 92: 13 Income tax expense DKK million 2
Page 93 and 94: DKK million Goodwill Cost at 1 Janu
Page 95 and 96: The main criteria used for determin
Page 97 and 98: DKK million Land and Impairment tes
Page 99: 17 Associates and other securities
Page 103 and 104: 20 Construction contracts DKK milli
Page 105 and 106: Hybrid capital due 3005 Hybrid capi
Page 107 and 108: Change in temporary differences in
Page 109 and 110: 25 Loans and borrowings DKK million
Page 111 and 112: 27 Income tax receivable and payabl
Page 113 and 114: 29 Disposal of enterprises DKK mill
Page 115 and 116: Other capital transactions with non
Page 117 and 118: Risk Price change Effect on profi t
Page 119 and 120: Categories of fi nancial instrument
Page 121 and 122: securities 2011 DKK million Nominal
Page 123 and 124: trading portfolio, economic hedging
Page 125 and 126: Hedging of net investments in forei
Page 127 and 128: 35 Lease commitments 2011 DKK milli
Page 129 and 130: As a condition for approval of its
Page 131 and 132: 39 Events after the reporting perio
Page 133 and 134: Regulated companies that operate ac
Page 135 and 136: do not satisfy the criteria for hed
Page 137 and 138: translation reserve The translation
Page 139 and 140: eporting enterprise operates. Trans
Page 141 and 142: CO 2 emissions allowances Allocated
Page 143 and 144: Deferred tax is measured using the
Page 145 and 146: Definitions of performance highligh
Page 147 and 148: significant licences and hydrocarbo
Page 149 and 150: 42 Company overview Segment/company
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Segment/company Type 1 Registered o
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Segment/company Type 1 Registered o
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DONG ENERGY ANNUAL REPORT 2011 - CO
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Accounting policies for data collec
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significant environmental incidents
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fInancIal stateMents 2011 PARENT CO
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DKK million Note 2011 2010 profit f
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Equity and liabilities DKK million
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DKK million Share capital Hedging r
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01 Basis of reporting The parent co
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04 Staff costs DKK million 2011 201
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06 Finance income DKK million 2011
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09 Property, plant and equipment DK
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12 Equity Share capital composition
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14 Loans and borrowings DKK million
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18 Financial risks DONG Energy A/S
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19 Financial instruments maturity a
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fair value hierarchy of financial i
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22 Related party transactions tradi
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Independent Auditor’s Report To t
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coMPany announceMents IN 2011 Compa
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glossaRy relatively low (off-peak).
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