Primeo Energy active on the market
Primeo Energie’s 121st annual delegates’ meeting was held at KUSPO in Münchenstein yesterday for the 2018 financial year. Its main focus was the name change to Primeo Energie and the company’s associated ambitions. Property owners within Primeo Energie’s grid territory and that of AVAG whom Primeo Energie supplies with heating are now also entitled to join the cooperative. A motion to examine whether it would be possible to make the delegates’ meeting smaller was rejected in a consultative vote.
On the topic of the 2018 financial year, CEO Dr Conrad Ammann and CFO Stephan Naef discussed the key figures and indicators as well as strategy and the recent name change from EBM to Primeo Energie. The management has succeeded in harnessing Primeo Energie’s significant potential and transforming it into business success. Primeo Energie has recorded profitable growth. Alongside the 13 per cent increase in revenue to CHF 645 million and an operating result of CHF 63 million (previous year: CHF 42 million), Primeo Energie has successfully positioned and asserted itself on the market in all four core segments. The consolidated total assets stand at CHF 2.1 billion. With an equity ratio of 60 per cent, Primeo Energie remains on a sound financial footing.
The President of the Board of Directors, Alex Kummer, discussed Primeo Energie’s strategy during his speech. “Our growth strategy is geared particularly towards a Swiss energy market that will see significant changes in the coming years. We at Primeo Energie want to play an active role in all of these changes,” he emphasised.
Primeo Energie CEO Conrad Ammann said that the change from EBM to Primeo Energy was an important step in positioning the company and setting it apart from the competition. The transformation that Primeo Energie will be implementing as a company in the next few years will also be decisive, according to Amman. He added that the goal is to offer customers pioneering solutions and to motivate them to use energy sustainably. “Existing customers are to be the first to benefit from this.” He stated that, above all, the name change would serve to achieve recognition and the desired level of growth. Yet Ammann also identified a need to cultivate the roots of EBM (Genossenschaft Elektra Birseck).
The 224 delegates present unanimously accepted the annual report and annual financial statements and formally approved the activities of the competent executive bodies in the 2018 financial year, again unanimously. The meeting passed the motion of the Board of Directors to amend the Articles of Association in such a way that owners of properties connected to Primeo Energie’s heat distribution grids can now also join the cooperative.
In a consultative vote, a large majority of delegates were in favour of maintaining the annual delegates’ meeting at its current size. Prior to the meeting, a number of delegates had suggested examining whether it should be made smaller.
At the re-elections, the current members of the Board of Directors Daniel Schenk (Therwil) and Andreas Dürr (Biel/Bienne-Benken) were confirmed in office until 2023. Ernst & Young Ltd has also been retained as statutory auditor.