ANNUAL REPORT 2011 - DONG Energy

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notes 04 Staff costs remuneration of Board of Directors and Executive Board in 2010 DKK ‘000 Salaries Bonus Pension total parent company Board of Directors: Chairman (500) - - (500) Deputy Chairman (300) - - (300) Otther members1 (1,706) - - (1,706) audit and risk Committee: Chairman (100) - - (100) Other members2 (100) - - (100) remuneration Committee: Chairman (50) - - (50) Other member (25) - - (25) parent company Executive Board: CEO (4,822) (827) (2) (5,651) CFO (4,399) (1,198) (2) (5,599) remuneration (12,002) (2,025) (4) (14,031) 1 Annual remuneration was DKK 175 thousand per member in 2010. 2 Annual remuneration was DKK 50 thousand per member in 2010. 05 Fee to auditor appointed at the Annual General Meeting DKK million 2011 2010 Audit fees (1) (1) Non-audit fees (4) - total fees to pricewaterhouseCoopers (5) (1) 168 parEnt COmpany finanCial statEmEnts – DONG ENERGY ANNUAL REPORT 2011
06 Finance income DKK million 2011 2010 Interest income from cash, etc. 284 159 Interest income from subsidiaries 1,731 1,499 Interest income and capital gains from securities at fair value 508 365 Foreign exchange gains 2,381 3,071 Value adjustments of derivative financial instruments 6,793 6,946 Dividends received 3,113 1,703 Miscellaneous finance income 10 21 finance income 14,820 13,764 07 Finance costs DKK million 2011 2010 Interest expense relating to payables (1,548) (1,753) Interest expense to subsidiaries (130) (76) Capital losses on securities at fair value (19) (69) Foreign exchange losses (2,042) (2,199) Value adjustments of derivative financial instruments (8,455) (7,883) finance costs (12,194) (11,980) Foreign exchange adjustments of DKK 339 million have been recognised in profit for the year (2010: DKK 872 million). DONG ENERGY ANNUAL REPORT 2011 – parEnt COmpany finanCial statEmEnts 169 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
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Market and credit risks The Group
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isk and risk policy Exposure and he
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isk and risk policy Exposure and he
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Environment As an energy company, D
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Under Danish legislation, the Group
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information and communication DONG
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lars nØrBy JOHansEn Deputy Chairma
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pOul arnE niElsEn b. 1944. Joined t
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The Board of Directors and the Exec
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notes to the statement of cash flow
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DKK million Note Business perfor ma
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Equity and liabilities DKK million
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DKK million Share capital Hedging r
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DKK million Note 2011 2010 suppleme
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02 Critical accounting estimates an
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The excess of the cost of the acqui
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• wind power: Development, constr
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Geographical breakdown 2011 DKK mil
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econciliations DKK million 2011 201
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emuneration of Board of Directors,
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08 Fee to auditor appointed at the
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13 Income tax expense DKK million 2
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DKK million Goodwill Cost at 1 Janu
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The main criteria used for determin
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DKK million Land and Impairment tes
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17 Associates and other securities
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19 Receivables DKK million 2011 201
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20 Construction contracts DKK milli
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Hybrid capital due 3005 Hybrid capi
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Change in temporary differences in
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25 Loans and borrowings DKK million
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27 Income tax receivable and payabl
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29 Disposal of enterprises DKK mill
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Other capital transactions with non
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Risk Price change Effect on profi t
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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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Page 155 and 156: DONG ENERGY ANNUAL REPORT 2011 - CO
Page 157 and 158: Accounting policies for data collec
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Page 161 and 162: fInancIal stateMents 2011 PARENT CO
Page 163 and 164: DKK million Note 2011 2010 profit f
Page 165 and 166: Equity and liabilities DKK million
Page 167 and 168: DKK million Share capital Hedging r
Page 169 and 170: 01 Basis of reporting The parent co
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Page 175 and 176: 09 Property, plant and equipment DK
Page 177 and 178: 12 Equity Share capital composition
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Page 181 and 182: 18 Financial risks DONG Energy A/S
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Page 185 and 186: fair value hierarchy of financial i
Page 187 and 188: 22 Related party transactions tradi
Page 189 and 190: Independent Auditor’s Report To t
Page 191 and 192: coMPany announceMents IN 2011 Compa
Page 193 and 194: glossaRy relatively low (off-peak).
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ANNUAL REPORT 2011 - DONG Energy

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