ANNUAL REPORT 2011 - DONG Energy

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notes 03 Segment information activities 2011 – continued DKK million Reportable segments External revenue 56,908 (66) - 56,842 1,595 58,437 Intragroup revenue 15,236 2,261 (17,497) 0 - 0 revenue 72,144 2,195 (17,497) 56,842 1,595 58,437 EBitDa 13,728 42 - 13,770 1,825 15,595 Depreciation and amortisation (6,754) (98) - (6,852) - (6,852) Impairment losses (818) - - (818) - (818) Operating profi t (EBit) 6,156 (56) 0 6,100 1,825 7,925 adjusted operating profi t 4,544 (100) 0 4,444 1,825 6,269 DKK million Exploration & Production Wind Power Thermal Power Net working capital, external transactions (951) (2,767) 299 2,717 965 263 (463) 19 (181) Net working capital, intragroup transactions 808 (53) (199) (175) (698) (317) 336 (19) 0 net working capital (143) (2,820) 100 2,542 267 (54) (127) 0 (181) Gross investments (5,626) (10,872) (714) (333) (810) (18,355) (96) - (18,451) Segment assets 33,087 48,027 33,155 32,625 22,197 169,091 78,275 (93,493) 153,873 Capital employed 18,186 29,443 17,882 6,553 10,944 83,008 (1,653) - 81,355 Adjusted capital employed 1 7,859 13,733 13,785 6,420 9,967 51,764 (1,574) - 50,190 1 Adjusted capital employed is defi ned as capital employed less property, plant and equipment under construction and exploration assets, and less production assets transferred from property, plant and equipment under construction in the past six months. Oil and gas exploration expenditure of DKK 997 million has been recognised in Exploration & Production. Oil and gas exploration assets and liabilities amounted to DKK 2,758 million and Other activities Energy Markets Sales & Distribution 74 78 COnsOliDatED finanCial statEmEnts – DONG ENERGY GROUP ANNUAL ANNUAL REPORT REPORT 2011 2011 Eliminations Reportable segments Business performance Other activities Adjustments Eliminations IfRs IfRs DKK 395 million respectively on 31 December 2011. Operating and investing cash fl ows arising from oil and gas exploration absorbed DKK 2,108 million and DKK 984 million respectively.
Geographical breakdown 2011 DKK million Denmark UK Germany Netherlands activities 2010 DKK million Exploration & Production External revenue 5,016 2,510 11,564 21,971 13,739 54,800 Intragroup revenue 3,248 442 167 9,545 446 13,848 revenue 8,264 2,952 11,731 31,516 14,185 68,648 EBitDa 5,051 1,730 2,228 2,959 2,036 14,004 Depreciation and amortisation, excluding purchased CO 2 emissions allowances (1,950) (771) (1,270) (565) (970) (5,526) Impairment losses - - (401) - (9) (410) Operating profi t (EBit) 3,101 959 557 2,394 1,057 8,068 adjusted operating profi t 2,036 979 511 2,386 1,072 6,984 DKK million reportable segments Wind Power Other activities Thermal Power Eliminations Energy Markets Business performance Rest of World External revenue 54,800 (184) - 54,616 (18) 54,598 Intragroup revenue 13,848 1,780 (15,628) 0 - 0 revenue 68,648 1,596 (15,628) 54,616 (18) 54,598 EBitDa 14,004 131 - 14,135 (46) 14,089 Depreciation and amortisation, excluding purchased CO 2 emissions allowances (5,526) (79) - (5,605) - (5,605) Impairment losses (410) - - (410) - (410) Operating profi t (EBit) 8,068 52 0 8,120 (46) 8,074 adjusted operating profi t 6,984 1 0 6,985 (46) 6,939 Sales & Distribution Adjustments consolidated total Revenue 28,646 13,512 8,222 3,747 4,310 58,437 DKK million Denmark UK Norway Rest of World consolidated total Intangible assets and property, plant and equipment 42,428 31,860 17,930 5,021 97,239 DONG ENERGY DONG ENERGY GROUP ANNUAL REPORT 2011 – COnsOliDatED finanCial statEmEnts 79 75 reportable segments ifrs 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
Page 31 and 32: The photo shows a meter technician
Page 33 and 34: monthly average 2011 2010 ∆ Oil,
Page 35 and 36: Net finance costs amounted to DKK 0
Page 37 and 38: New presentation of profit for the
Page 39 and 40: Non-financial performance The Group
Page 41 and 42: volumes Generation from wind and hy
Page 43 and 44: was brought back online in October
Page 45 and 46: Further information on DONG Energy
Page 47 and 48: 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: • wind power: Development, constr
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 and 100: 17 Associates and other securities
Page 101 and 102: 19 Receivables DKK million 2011 201
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
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Regulated companies that operate ac
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do not satisfy the criteria for hed
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translation reserve The translation
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eporting enterprise operates. Trans
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CO 2 emissions allowances Allocated
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Deferred tax is measured using the
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Definitions of performance highligh
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significant licences and hydrocarbo
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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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