ANNUAL REPORT 2011 BY PEOPLE FOR PEOPLE

Transcription

1 ANNUAL REPORT 2011 BY PEOPLE FOR PEOPLE

2 Égáz-Dégáz Földgázelosztó Zrt. is proud to have been awarded the Hungarian Energy Consumers Prize based on the quality and client friendly services and high standards shown in 2011 for the fourth year running. Péter Tajti General Manager CEO s Foreword Within our operation area we supply gas to the customers of 19 free market traders and one universal service provider at the same time ensuring them discrimination-free access to our network and data management which are based on our devotion to the needs and interests of traders and consumers. In 2011 natural gas distributed on the free market amounted to 47% of the total distributed volume. During 2011 we invested HUF million in development from our own resources without having had to take out any loans or facilities. This amount covered the costs of works performed to ensure compliance with law and regulations (connecting new consumers to our system, reconstructions), and to maintain operational safety. In 2011 Hungarian economy continued its fight against the economic crisis. The economic performance of the country was typically stagnating, and thus the consumption of natural gas decreased further. The results of the Company in 2011 were negatively influenced by the unusually warm winter, and the unfavourable course of distribution fees. Yet, in the face of all these negative factors, with our strict cost control and the dedication of our employees the Company managed to close another successful. Antoine Jourdain CEO Contents CEO s Foreword 1 Corporate Structure 2 Central and Regional Units 3 Important tasks and performance thereof 4 Market Position of the Company 5 Operation Area 6 Numbers of consumers and volumes 8 Evaluation of Economic Activity 9 Efficiency, Profitability and Cover Indices; Financial Situation 10 Financial Situation Assets and Liabilities 11 Investments; Human Resources Improvements 12 Social Responsibility

3 Corporate Structure Central and Regional Units Top management Founder Name Title Győr Szeged Tajti Péter Általános Vezérigazgató +36 (62) Molnár Károly Hálózati Igazgató +36 (96) Dr. Nagy Katalin Szervezetfejlesztési Igazgató +36 (62) Auditor CEO Supervisory Board Szoldatics József Ügyfélkapcsolati Igazgató +36 (96) General Manager Central units Name Address Telephone number Fax CEO s Office 6724 Szeged, Pulcz u (62) (62) Department of Quality Assurance and Safety Engineering Secretariat Department for Quality Assurance and Safety Engineering 6724 Szeged, Pulcz u (62) (62) Organisation Development Directorate 6724 Szeged, Pulcz u (62) (62) Finance Department 6724 Szeged, Pulcz u (62) (62) Network Director Customer Relations Director Organisation Development Director Regulation Department 6724 Szeged, Pulcz u (62) (62) Service Improvement Department 6724 Szeged, Pulcz u (62) (62) Secretariat Finance Department Regulation Department Customer Relations Directorate 9027 Győr, Puskás T. u (96) (96) Department of Distributor s Services 6724 Szeged, Pulcz u (40) (62) Department of Consumers Equipment 6000 Kecskemét, Ipoly sor (76) (76) Department of Gas Network Development IT Platform Service Improvement Department Natural Gas Distribution Manager 6724 Szeged, Pulcz u (62) (62) Department of Gas Network Maintenance and Operation Department of Distributor s Services Natural Gas Distribution Manager Department for Gas Distribution and Settlement 6724 Szeged, Pulcz u (62) (62) Gas Metering Department 9027 Győr, Puskás T. u (96) (96) Department of Consumers Equipment Department for Gas Distribution and Settlement Network Directorate 9027 Győr, Puskás T. u (96) (96) Department of Gas Network Development 9027 Győr, Puskás T. u (96) (96) Branch Offices Gas Metering Department Department of Gas Network Maintenance and Operation 9027 Győr, Puskás T. u (96) (96) Branch office in Baja Regional units, Southern region Branch office in Békéscsaba Name Address Telephone number Fax Branch office in Baja 6500 Baja, Bajcsy-Zsilinszky u (79) (79) Branch office in Győr Branch office in Békéscsaba 5600 Békéscsaba, Kétegyházi út (66) (66) Branch office in Kecskemét Branch office in Kecskemét 6000 Kecskemét, Ipoly sor (76) (76) Branch office in Szeged 6724 Szeged, Vásárhelyi Pál u (62) (62) Branch office in Szeged Regional units, Northern region Branch office in Szombathely Name Address Telephone number Fax Branch office in Győr 9027 Győr, Puskás Tivadar u (96) (96) Branch office in Szombathely 9700 Szombathely, Rákóczi u (94) (94) ÉGÁZ-DÉGÁZ FÖLDGÁZELOSZTÓ ZRT. 3

4 Important tasks and performance thereof Market Position of the Company Infrastructure Égáz-Dégáz Földgázelosztó Zrt. is a natural gas distributor company operating within the area of County Győr-Moson-Sopron, Vas, Komárom- Esztergom, Csongrád, Békés és Bács- Kiskun, as well as in three towns of County Veszprém. Within its service area it serves 667 settlements. The length of the gas pipe network operated by the Company is a total 23,002 km. The Company serves its consumers through 14 units integrated into six branch offices. Composition of gas pipe network within the operation area: Composition of gas pipe network based on material Composition of gas pipe network based on ownership In 2011 the Company considered it important to continue with its business policy and activity along the principles set down in its strategy. 4% Steel 2% Other Customer Relations The Company does not pursue trading activity, but to ensure its growth it wishes to take advantage of the following possibilities: identifying consumers who have gas pipes, but do not use the services of the Company; improving services; price strategy lobby in cooperation with the distribution licence holders operating in Hungary in order to ensure that the equity invested produces a yield equalling at least bank interests for the owners, and to ensure market conditions in the future that are similar to those in 2010; improving customer services (electronic services for those who register, enhance quality); improving the quality of meter reading, invoicing, collection processes; meeting the challenges of market anomalies, successful preparation for communication of the ever increasing number of market participants (free market traders), for the management of market emergencies, if any, and for ensuring appropriate flow of information (continuous development of IT platform). Network and Technology extending and strengthening the network according to consumer demand; using gas emission free pipe repair technology; reinforcing central work management system; performing tasks defined in the network renovation and metering modernisation policy; connecting more consumer metering points to the distant reading network; continuous supervision of metering loss, analysis to reduce such loss, drafting and implementing action plans. Finance continuous assessment of results; continuous analysis of financial processes; reducing receivables. The programmes above allowed the Company to progress according to the strategic targets defined, and contributed to the improvement of service level. 96% PE Regulatory environment The aim of Act Xl of 2008 on natural gas distribution (Gas Act) was to open up the gas market in several phases. As from 1 July 2011 distant heat providers entered the free market. From then on the law allows only retail consumers and consumers with meters below 20m³/hour to consume natural gas from the regulated market, to use universal services. 98% Own Natural gas distribution fees On 13 July 2011 the regional distribution fee was introduced and it replaced the previous national system of fees used jointly with a compensation mechanism. Accordingly, new distribution fees have been set for all distribution network operators, including our Company. The double tariff protocol for consumers eligible and not eligible for universal service remained in force. 4 ÉGÁZ-DÉGÁZ FÖLDGÁZELOSZTÓ ZRT. 5

5 Operation Area Unit in Szombathely 9700 Szombathely, Rákóczi u Telephone: (94) Unit in Sopron 9400 Sopron, Ipar krt. 6. Telephone: (99) Unit in Győr 9027 Győr, Puskás T. u. 39. Telephone: (96) Unit in Tatabánya 2800 Tatabánya, Eötvös u. 11. Telephone: (34) Unit in Szabadszállás 6080 Szabadszállás, Dózsa Gy. u. 10. Telephone: (76) Unit in Kecskemét 6000 Kecskemét, Ipoly u. 5. Telephone: (76) Unit in Szentes 6600 Szentes, Klauzál u. 24. Telephone: (63) Unit in Szeghalom 5520 Szeghalom, Bocskai út 53. Telephone: (66) Unit in Békéscsaba 5600 Békéscsaba, Kétegyházi u. 4. Telephone: (66) Unit in Baja 6500 Baja, Bajcsy-Zsilinszky u. 4. Telephone: (79) Unit in Kiskunhalas 6400 Kiskunhalas, Kertész u. 2. Telephone: (77) Unit in Szeged 6724 Szeged, Vásárhelyi Pál u. 6. Telephone: (62) Unit in Hódmezővásárhely 6800 Hódmezővásárhely, Kutasi út 24. Telephone: (62) Unit in Orosháza 5900 Orosháza, Fürdő u. 1. Telephone: (68) Northern Region Operative Units Southern Region Operative Units 6 ÉGÁZ-DÉGÁZ FÖLDGÁZELOSZTÓ ZRT. 7

6 Number of Customers and Volumes Evaluation of Economic Activity s in the number of customers Sales revenues and income Universal Free Market number Absolute Relative Without meter ,1% Below 20 m³/h ,5% m³/h ,1% m³/h ,0% Above 500 m³/h ,0% SUBTOTAL ,6% Without meter ,0% Below 20 m³/h ,0% m³/h ,7% m³/h ,0% Above 500 m³/h ,3% SUBTOTAL ,0% Auto gas ,0% TOTAL ,4% The number of consumers has gone up by 0.4% by the end of 2011 as compared to portfolio the year before. We see a major change within the consumption structure as far as the proportion of consumers below 20m³/h using universal service and those consuming from free market. At the end of 2011 the number of consumers below 20m³/h who consumed from the free market went down by 87.5 thousand compared to the situation a year before. The reason for this is that as from 13 January 2011 the Hungarian Energy Office suspended the licence of the then largest free gas market trader, EMFESZ, and so the natural gas free market activity was discontinued. Main factors: Sales revenues from distribution Sales revenues went down on a year by year basis mainly because of the negative price impact of the differentiated (eligible/not eligible for universal service) tariffs implemented in December 2010, and because volumes are 8.2% behind the results of last year. Costs and expenses thousand HUF Material type expenses Personnel costs Depreciation Other expenses thousand HUF Sales revenues from distribution Sales revenues from other activities HFH, connection fees I. Net sales revenues (1+2+3) Other revenues Financial income Extraordinary income = TOTAL REVENUES AND INCOME (I+4+5+6) CAPITALIZED VALUE OF SELF- MANUFACTURED ASSETS Metering difference in 2011 amounted to 1.99% which is although less than last year s result, its costs shot up significantly as a result of the increasing raw material price (USD/GJ molecule price), and the USD/HUF exchange rate going down. The volume of natural gas distributed in 2011 was 8.2% less than the volume distributed in Consumption in all segment decreased. The main reason being the unusually warm December 2011, and changes in saving and consumption attitudes. Retail consumption has dropped significantly as a result of increasing energy prices and overhead costs. We see a fall in industry, trade and public sectors. Since macro expectations continued to remain negative the members of each segment halted their investments, production and through this the consumption of energy. in the volume of the natural gas distributed Universal Free Market number Absolute Relative Without meter ,9% Below 20 m³/h ,1% m³/h ,2% m³/h ,2% Above 500 m³/h ,7% SUBTOTAL ,5% Without meter ,0% Below 20 m³/h ,0% m³/h ,2% m³/h ,0% Above 500 m³/h ,0% SUBTOTAL ,9% Auto gas ,1% Own consumption ,9% TOTAL ,2% I. Total operating costs and expenses ( ) Financial expenses Extraordinary expenses = TOTAL COSTS AND EXPENSES (I+5+6) Profits thousand HUF A Profit from operations B Financial profit C. Profit/Loss on ordinary activities (A+B) D Extraordinary profit E. Profit before tax (C+D) XII Tax F. Profit after tax (E+XII) Use of accumulated profit reserve for dividends Dividends and profit sharing paid G. Retained earnings (net profit) (F+22+23) EBITDA NUMBER OF CUSTOMERS ÉGÁZ-DÉGÁZ FÖLDGÁZELOSZTÓ ZRT. 9

7 Efficiency, Profitability and Security Indices Financial situation Assets and Liabilities Item Unit Natural gas distribution per consumer m³/consumer Revenues from natural gas distribution in a day HUF million/day 62,430 56,530 Direct costs in proportion to the net sales revenues % 54,860 65,780 Indirect costs in proportion to the net sales revenues % 9,042 12,370 Net sales revenues per employee HUF thousand/ person Assets thousand HUF A. Fixed assets I. Intangible assets II. Tangible assets III. Financial investments B. Current assets I. Inventories Profit before tax per employee Number of employees per 1000 customers Financial Situation HUF thousand/ person person/1000 consumers 0,760 0,730 II. Receivables III. Securities IV. Liquid assets C. Accrued and deferred assets TOTAL ASSETS Assessment of the financial situation Liquidity Current Assets + Accrued and deferred assets / Short-term liabilities 103,8% 266,1% Credit cover index Receivables / Short-term liabilities 81,4% 202,3% Financial assets The Company holds no securities, permanent shares, permanent credit relation materialised by securities. Financial resources The loan portfolio of the Company according to maturity is as follows: Long-term: Short-term: HUF 48 million HUF 121 million The long-term loan portfolio has not changed on a year-year basis, while the shortterm portfolio has decreased by 7.4%% in The reason behind the significant differences between the indicators of the two years in question is that data given for year 2010 reflect the situation after the payment of dividends, while those given for year 2011 reflect the situation before the payment of dividends. Liabilities thousand HUF D. Fixed assets I. Subscribed capital II. Unpaid subscribed capital III. Capital reserve IV. Profit reserve V. Restricted reserve VI. Evaluation reserve VII. Retained earnings (net profit) E. Provisions F. Liabilities I. Deferred liabilities II. Long-term liabilities III. Short-term liabilities G. Accrued and deferred liabilities TOTAL LIABILITIES ÉGÁZ-DÉGÁZ FÖLDGÁZELOSZTÓ ZRT. 11

8 Investments Social Responsibility The value of the developments completed by the Company in 2011 was HUF 3.2 billion as follows: thousand HUF Compensation for easement Network construction Network purchase Network reconstruction Tools, machines, technical installation Technical IT development Big meters and pressure controllers Small value assets Meters and pressure controllers (new consumers) Meter replacement As from the year 2010 the Company has pursued a rather low-key investment policy, although the expenses thereof in 2011 increased. This amount covered the costs of works performed to ensure compliance with law and regulations (connecting new consumers to our system, reconstructions), and to maintain operational safety. Environmental responsibility Environmental tasks arising from the business activity of the Company are completed in compliance with the applicable law and the Environment Regulations at the same time considering the interests of sustainable development. During its activity the scope of environmental responsibility shall cover the protection of waters, soil, fauna, air, as well as the built-up environment. Subject to this tasks related to the use of dangerous substances, and waste management are prioritised. In addition to this the Company considers it of great importance to educate its own employees with information about the significance of the protection of the environment (information regarding efficient energy utilisation, presentation about natural gas operated motoring), with the dissemination of good practices (selective waste collection, ensuring safe disposal of batteries used in the offices, reduction of paper demand), as well as by organising targeted events. TOTAL: Social responsibility Human Resources Improvement The average staff headcount of the Company was 612 in 2010 and this went down to in The qualified personnel required for performing distribution activity was available to the Company in the relevant fields. The training programme developed by the Company ensures that employees are adequately qualified, and their expertise is up to date. In employees participated in at least one type of training. The number of working days spent on trainings was 1,992; the amount spent on training, development was HUF 38 million. Égáz-Dégáz Földgázelosztó Zrt. followed the fate of the villages affected by the red sludge and that of the people living there with utmost care and attention. Our Company donated twenty thousand special, type FFP2 dust respiratory masks to the local government of Devecser to protect the health of the people participating in rescue. We also helped one of the victims of the catastrophe by PartnerGáz network In order to ensure high quality and complex services to meet the needs of our consumers our Company operates the PartnerGáz network which serves as a pooling platform for architects, constructors, gas fitters, producers and distributors within our service area. This way we can provide our customers complex offers from planning to installation. paying for the connection fee and giving HUF to purchase gas fuelled equipment for the new home. For the World Environment Day we call for tenders from our employees. We were looking for one kindergarten, pre-school and elementary school in each region that needed their gardens to be renovated. The purpose was to make the environment nicer in which Anniversaries Our unit in Szabadszállás was established 25 years ago to ensure access in the region to natural gas, the comfortable, clean, modern, versatile and environment friendly energy. To commemorate this we held an event on 11 November 2011 for the political and professional heads of the region, as well as for the employees and retired personnel of the Company. children play and teachers work. As part of the tender in the southern region we have helped Sugovica ÁMK és Sportiskola Lőkert sori Óvoda in Baja, while in the northern region the Csillagsziget Bölcsőde in Tata in dressing up the garden and purchasing new toys. Our branch in Sopron started supplying gas 145 years ago. The commemorate this we have inaugurated a memorial plaque. 12 ÉGÁZ-DÉGÁZ FÖLDGÁZELOSZTÓ ZRT.

9 Our values drive commitment daring cohesion Published by: Égáz-Dégáz Földgázelosztó Zrt Győr Puskás Tivadar utca 37. Editor: General Manager of Égáz-Dégáz Földgázelosztó Zrt. Printed by: INNOVARIANT Nyomdaipari Kft. Foto Credit: SUEZ ENVIRONNEMENT / KRISTA BOGGS DUREUIL PHILIPPE GDF SUEZ / HELSLY CEDRIC GDF SUEZ / JACQUES MOUSSAFIR - ISABELLE DENOYEL - ERIC WUILMOT ARCHITECTES / MILLIER SEBASTIEN / MAISON A / STUDIO B, ÉVÈNEMENT ORGANISÉ PAR ARCHITECTURES À VIVRE. Printed on recycled paper.