Åpp 2016
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 2 INNHOLD Oj ø 3 A ø 4 K p 7 Å 2016 8 Kp 2016 14 N p 2016 17 Rj 2016 35 Gu E N AS 38 Gu E Puj AS 39 Gu E Fy AS 40 I AS / Gu E AS 41 F : Ny E6 h p jé, h ø h jy F : Mø O Øy u ju p 100 juu
ORGANISASJON GE H 50% I GE N GE Puj GE Fy 100% Gu E E M NØKKELTALL 2016 2015 2014 Ru ø (MNOK) 53,1 34,1 59,5 Ep p 40,2% 77,9% 77,6% I (MNOK) 133,0 120,8 75,7 Puj (GWh) 76 81 91 A u 19 264 18 737 18 121 A 83 80 78 Syæ 3,5% 2,6% 4,3%
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 4 Gu E 100 juu 2016 V h p u h h p GE V h u p h u u V pp u, H juu F p hu, j u p j u H yh p j h æ p S ø j h pp æ ø u p Å 2016 jø p E uu p 2013 uø 2015 u u j h P puj Å y p ju D M- 11 GWh y h GE h æ u j Au V I 2016 j p Au R (110 MW 370 GWh) E h Sw Müch E pj u uy pp p 2016 GE 260 h 20% pj I h y j pj p Kjø (45 Mw 150 GWh) H uy p øp 2017 GE h h u p uu j O h æ p j S h u u V ø p uu u y pu j U y uj p h ø p I uu u E E I AS 50-50 p, j p D GE ø p uu h A pj u j F h h pp E6-uy uu, h u y S h y jpj hy u h æ æu j yp E h u ø p u h F u pj p 20% p h jp, h j uyu p ø ø F p y u p h E j æ u uu 2013 y p p D p h j p u uuh j S jø p y pj ø uyu V pp u p D j p p, uj h j V u u j up j u yp - p h E u u (-, hj ) I pø æ y u N u ø j y j V p j p I E uh, j p jø h p p u y p S u u pu j høy u u Bj Sp A ø K GE h p u u h u M ø p, ø pu p h y
5 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 K GE h p u u h u
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 6 Sp 100 juu juuu u u U u Hh p Ru G
7 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 D p ( øp 1000 NOK) S p p 9 736 S p ø, p 16 613 A 7 832 A ø 61 189 M 12 891 E 3 981 Uy u 24 150 KONSERNETS VERDISKAPNING Gu E y u p T p h u jø 2016 c 351 D p ujø 138 I jøp ø øp D p ujø c 213 Sp 1 788 Su 138 181
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 8 ÅRSBERETNING 2016 Oj E 2015 Gu E H AS p ø h p: Gu E N AS uj j Gu E Puj AS pu, Gu E Fy AS -pj D 2016 p E E AS j I AS I AS 50% h Gu E H AS E E AS I AS 100% Gu E AS E M AS Vh jp 1986, ø p j u p, h y puj, uj K h h p V N-F u Eh Gu E H AS jp 151 400 000 p 151 400 j : Øy u 45 420 j (30%) Ru u 45 420 j (30%) Sø-F u 30 280 j (20%) N-F u 30 280 j (20% ) Gu E H AS p h j y Sy ju T y F y V ø u ø Øy V æ Gu E H AS p
9 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 P 31122016 p y ø : Sy : S Sæ Ty Sy : O P Bø Sy: B O R K Np Mø Gu Myh A: A R H Sp A ø ø y u Sy h h 177 2016 Gu E H AS Sp p p Sp I AS, E B AS E E AS Sp uø j j p Tj u p Gu E N AS Sp y, uj Kj h u N-F, Sø-F, Ru, Øy Sj- S A u p 31122016 19 264, 18 737 R- uj u h pp p T y E6-p Gu u 2016 D p ø uypj p h æ Fø y uy uj y hy Uy uj -, hy- u p u D p pp u p p j ph u p Sp uy B u E B AS 2050 Gu E N AS uu Oj- p h ø u ø h D æ 2019 V 1 j u y Ny AMS- y 2015 A/S E, V E AS V E KF Føp AMS-y j Gu E N 48, h 2016 h 24 Gu E Puj AS Sp puj V p Sp M Å Øy u V Ru u Å K ju 2016, 10 GWh y I 2016 pu 76,4 GWh 81,4 GWh 2015 A u 11,9 GWh Opp E AS hh Gu E Fy AS Sp y, puj y p hø h Sp uypj -, p By R 2016 uø øp 2019 S puj h 370 GWh Gu E Fy AS 20% Au R DA Kjø j 2015, h øp u Gu E Fy AS 37,5% pj Gu E AS I AS D 01072016 p E E AS Ep j I AS I AS 100% Gu E AS E M AS A, jø K h p 31122016 83, u 6 æ Syæ 2016 3,5 p 2,6 p 2015 I 2016 h é ø 9 æ Ajø ø pp y, jøu D j pp p K h Gu Bh j hj Sy jø
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 10 Gu E H AS h 15 Å P 31122016 15 Bj p V y p h jø D jø p j K æ p h p u u, j pp, hu, p, y uj K h ø æ Mjøpp K h ø u y jø, u j - F u uy u u uy hjp j h F Vu K p Kjøp p p K u p æ D u u p u p p Gu E Fy AS h (NOK) u, j p uu, h u (EUR) Gu E Fy AS h ø Au R DA, h p EUR R K p j pp pp D p V p uh K R p h ø ppy p, h h æ p p
11 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 L K h h j p D h æ h p, u æ F 01012017 I AS h Ø Rup p Gu E H AS, h p Gu E N AS, Gu E Puj AS, Gu E Fy AS, I AS h ( u) Kp u p 44,7 u p 46,9, 18,4 2015 O p 817,1, 517,8 2015 Høy p, ø, I AS h p høy D 133,0 Sp h 2015 ø V u u T pp ø 8,3 2015 I 2015 u p y pj y u pj V u 2016 39 y, 43 u S ø pj p 43,2 54,7 2015 Tp u 1 335 663,5 p 31122015 K h 314,8 p 31122016 64,1 ø Sp h 2016 pp p 500 p A 400 y p 31122016 E I AS V h 2016 u h Sjp u ø ø h ø h u, y p h P u y 51 I AS 50/50 E E AS V p Gu E AS E E AS p E M AS h p I AS P u p ø E I AS p ø uppp, ø ø Gu E AS pp p Sp h h y p pppp u h æ pø jppp 120,1 ø u 2016 høy p p 31122016 F jppp h ø u u Sy pø u Gu E H AS ø j Sy p Gu E H AS I AS ø p h j y h Sy uppp ø h h p u p- jjø V pppp øy Gu E H AS Sp h u 2016 p 4,6, p u p 6,8 F E E AS 2016 3,2 O, Gu E AS I AS Ru ø h j p Gu E AS A h j p I AS S u uu 2016 27,6 50% p I AS u p Nh, Gu E N AS Ru h j p Gu E N AS I h N - (NVE) Sp h u 2016 p 19,4, u p 14,5 E u y h Å u p 91,2, 57,7 2015 Å p 11,7 28,7 2015 F L E B AS 2011 ø uy ø D 18,6 y 2016, j D 2016 ø pj, N-F Sø-F F 2017 p uy
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 12 Puj, Gu E Puj AS Ru h j p Gu E Puj AS O y u y Sp h u 2016 p 0,4, u p 0,8 Sp h 2016 hu Å 2,8 Sp h 29,2 2016 D y Å, pp y I, Gu E Fy AS Ru h j p Gu E Fy AS Sp h 2016 ø pj R ( Au R DA) Kjø ( Au V DA) Uy R, p puj p 370 GWh, 2016 uø 2019 S 264 A 42,3 2016 I Au R DA Gu E Fy AS 20% G Au R DA u F Kjø uy Gu E Fy AS 37,5% Au V DA Gu E Fy AS h u 2016 p 2,9, u p 6,4 Oppu E y pp up, øpp (pp ), u K u ujø 46,9 F Sy u Åp 2016 u u E p u h æ h y ø Sy ø p u Gu E H AS Sy u p 14,4 12,7 p, 27,1, u uy Ep p p 31122016 p 54,0% 92,2% ø I uj p p 31122016 40,2%, 77,9% p 31122015 Fu Sy h 2015 p p P h hp j h I 2019 Gu E N AS h y u ø D æ uy Gu E Puj AS ø pp h M V I Gu E Fy AS 2017 u uy Kjø Sy h j u
13 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 Sy Gu E 2016 F : Gu Myh, H Sp, S Sæ Ty, R K Np Mø, A R, B O, O P Bø ø Bj Sp Lh, 29 2017 S Sæ Ty y B O y H Sp y Gu Myh y O P Bø y R K Np Mø y A R y Bj Sp ø
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 14 KONSERNREGNSKAP 2016 RESULTATREGNSKAP (A øp h 1 000 NOK) Mp K 2015 2016 N N 2016 2015 D 18 113 1 964 1 S 0 0 0 0 K 1 670 388 379 807 0 0 N 7 117 860 104 444 464 16 355 A 1 28 816 33 533 18 577 18 319 Su 817 064 517 784 D 0 0 Kjøp 570 606 333 430 409 504 A 4 29 022 21 182 16 600 18 015 5,6 Lø 5,6 57 081 55 983 1 222 1 403 3 A 3 23 736 18 590 0 0 N 3 2 805 341 4 902 5 803 5 A 5 89 161 61 011 23 134 25 725 Su 772 411 490 538-4 557-7 406 Du 44 652 27 247 F 539 5 656 A 9 15 573 4 020 0 10 600 9 I p p h 0 0 0 0 Ru y p 9-1 437-6 002-10 021-3 170 8 N 8,9 0-8 820 173 2 676 A 5 668-24 10 387 16 750 Ru p 8 469 6 862 5 830 9 344 Ru ø 53 121 34 108-937 -5 027 11 S 11 6 266 15 705 6 767 14 371 Ru 46 855 18 403 6 767 14 371 Åu 46 855 18 403 Oø 24 150 27 090 13 F uy -17 383-12 719 13 Oø p 6 767 14 371 Su ø
15 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 BALANSE 3112 (A øp h 1 000 NOK) Mp K 2015 2016 N N 2016 2015 EIENDELER A I 944 5 971 11 U 11 19 559 19 937 0 0 I 3 51 010 0 944 5 971 Su 70 569 19 937 V 0 0 T, y 3 24 618 23 176 0 0 A u uø 3 21 635 54 040 0 0 Puj 3 125 015 62 340 0 0 F 3 42 889 27 238 0 0 Oø 3 308 651 274 848 4 692 4 074 3 Tp, øø 3 47 288 15 661 4 692 4 074 Su 570 097 457 304 F 514 401 486 650 8,9,16 Aj p 0 0 0 72 667 8,16 I h 9 0 0 7 000 11 737 8 I y p 9 59 608 10 230 0 23 100 10 L h 0 0 11 135 48 218 10 A 10 19 755 12 257 17 947 16 292 8 I j 8 16 344 17 999 550 483 658 664 Su 95 707 40 487 556 119 668 709 Su 736 372 517 727 Oøp 0 0 V 4 11 255 4 312 F 0 10 698 Ku 126 945 69 732 23 175 195 941 10 A 10 145 956 7 614 23 175 206 639 Su 272 901 77 346 0 90 219 Bu 14 314 847 64 160 23 175 296 858 Su øp 599 004 145 818 579 294 965 568 Su 1 335 375 663 545
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 16 BALANSE 3112 (A øp h 1 000 NOK) Mp K 2015 2016 N N 2016 2015 GJELD OG EGENKAPITAL Iu p 151 400 151 400 2,12,13 Ajp 2,12,13 151 400 151 400 151 400 151 400 Su u p 151 400 151 400 Oppj p 382 937 370 218 2,13 A p 2,13 385 466 365 701 382 937 370 218 Su ppj p 385 466 365 701 534 337 521 618 Su p 536 866 517 101 Gj A p 73 847 6 Pjp 6 16 653 799 0 398 894 16 Gj uj 398 894 0 0 0 A p 3 43 448 32 385 73 399 741 Su p 458 995 33 184 K j 10 116 0 Gj uj 0 10 116 3 569 2 016 Løj 81 454 8 864 0 0 11 B 11 16 166 75 1 029 1 136 Sy 14 35 615 17 966 0 0 M 7 40 845 31 005 30 171 41 057 10 A j 10 165 434 45 234 44 884 44 209 Su j 339 514 113 260 44 957 443 950 Su j 798 509 146 443 579 294 965 568 Su p j 1 335 375 663 545 S Sæ Ty y B O y H Sp y Gu Myh y O P Bø y R K Np Mø y A R y Bj Sp ø
17 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 NOTER N p 2016 ( øp h 1 000 NOK) 1 REGNSKAPSPRINSIPPER Spp p u p p Åp up,, øpp ppy Kp Kp u Gu E H AS p Gu E H AS h y B y pp 50% j p, uø p Tj æ p Kp u ppp, p ø ppp p Ty p h h h y ( ) y, pj y ( p 20% 50%) K p u u y p pø p pu y y pp y pphø N p y p, u ø u y p pø h p p Dp D- p y p u pp I u j h æ ø D y æ ø p N u p y p, u u p Køpp Køpp u K, u, p Bu L h u u p u u h p up j, u p p hh p D K h - u Iø h jøp I - ujp ø hh NVE A j ø j jøp R ø ppj K - æ p Kjøp u j p K u p Oøp j p pu, p y øp Ø p / j Uy, u p ø p O uy / ppj u pu,
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 18 Oøp u K j ø øp p pppu A u, u - L j ø øp p pu V V ø æ V y p u p u u p D h ø øp u, p p D j øp ø j øp Gj øp høy u V u ø E A u ø ø uj ø p A Gu E N AS uj A y ø p A y h ø uj Aj p Aj jøp u M j u øp M uy u p ø p p KK 37,5% Au V DA 20% Au R DA K 35,3% E E AS 2,2% E B AS K h j p 10% p Aj y p u p p Aj h u u p pp V L u j F Ku ppø py p A p jø p u u u I jø ø u up p p Pj Pj pjp æ ppj p uø B p u hu, u ø, pj y y, p pj u u øh Pj u u pjp E p y pjp jæ ppj E p pj y u () j jæ ppj h y 10% ø u pjp pj Sp h pj j Ku Lpj (KLP) I h p pjp ø
19 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 S K Gu E u j yp, 25% p u, uu 1,3 ø/wh jpuj 7, u p 33% 0,7% p æ ppp S u U / p u ø V u p 31122015 2016 y, hh 24% p 34,3% u J ø 11 E j u hj K h j u hj Vpuj p u S puj ppp h, j pujj Sj K h uu, puj ; V, M Å, - uj, uy p p M K h u 9,5 GWh K V Å h S puj 2016 76,4 GWh j 85,1 GWh jup Opp E h p 25% puj M, 2016 uj 11,9 GWh V h j p pu Vh ø Oø 465,3 GWh uu 427,7 GWh 2015 Tp H K Jy-K A Hø K uh u p juu
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 20 2 VESENTLIGE ENKELT TRANSAKSJONER D 2016 p E E AS j I AS I AS 50% h Gu E H AS E E AS I AS 100% Gu E AS E M AS I AS jøp j Gu E AS p p 30062016 Rup p 01012016 30062016 u I AS jøp j E M AS E E AS 3 VARIGE DRIFTSMIDLER OG IMMATERIELLE EIENDELER Mp Døø, A p 01012016 12 152 Å 785 Å 0 A p 31122016 12 937 Tj ø u uø p- p Gu E AS 280,0 j Bø p j pp p 31122016 27,8 ø p p 30062016 60,5 A p 280,0 153,1 p I AS 2016 R I AS Gu E H AS py 150,0, ø 23,1 j jø u, j 10 A p 01012016 7 460 Å 1 403 A 0 A p 31122016 8 863 Bø p 31122016 4 074 I j I Gu E H AS I u 42,3% Gu E H AS 7,7% j I AS E E AS p 31122016 Gu E H AS 50% p Sp h h pp u u p Ø Ap 3-8 Læ K K T y p juu p F hu p Hp
21 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 K T, y Puj Oø A u uø F Tp øø Su Bu p 01012016 36 671 168 453 708 777 53 716 48 602 76 742 1 092 962 Å 2 150 3 001 43 375 33 311 18 589 32 540 132 966 Op 0 65 716 0-65 716 0 0 0 N I AS 0 0 0 747 0 6 394 7 140 Å 0 0 0 0 0 0 0 A p 31122016 38 821 237 170 752 152 22 058 67 191 115 676 1 233 068 A u p 01012016 16 0 179 822 0 0 0 179 838 Å u 0 0 0 0 0 0 0 A u p 31122016 16 0 179 822 0 0 0 179 838 A p 01012016 13 479 106 116 254 107 423 21 364 63 170 458 659 Å 708 3 234 9 572 0 2 938 5 218 21 670 Å ** 0 2 805 0 0 0 0 2 805 A 0 0 0 0 0 0 0 A p 31122016 14 187 112 155 263 679 423 24 302 68 388 483 134 Bø p 31122016 24 618 125 015 308 651 21 635 42 889 47 288 570 097 Ø 50 40 25-30 * 20 3-10 Ap Læ Læ Læ Læ Læ I 2016 h Gu E N AS 11,7 y M S p y ujø 43,4 p 31122016 *) A u uø pj u p p 31122016 **) K h h Å, u 2016 N øp 2 805 p pj p K h y p u p, p, puj puj
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 22 IMMATERIELLE EIENDELER KONSERN K Gw M Kuj Pj Q Su Bu p 01012016 0 0 0 0 0 Å 2 000 11 000 9 000 195 22 195 Å I AS 62 272 0 0 0 62 272 Å 0 0 0 0 0 A p 31122016 64 272 11 000 9 000 195 84 467 A p 01012016 0 0 0 0 0 A 30 783 0 0 0 30 783 Å 1 674 550 450 0 2 674 A 0 0 0 0 0 A p 31122016 32 457 550 450 0 33 457 Bø p 31122016 31 815 10 450 8 550 195 51 010 Ø 10 * 10 10 Ap Læ Læ Læ *) F ø p w 10 u p ø y w 4 VARER K K 2016 2015 N 4 186 3 597 E 168 715 A I 6 901 0 Su 11 255 4 312
23 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 5 LØNNSKOSTNADER, ANTALL ANSATTE, GODTGJØRELSER, LÅN TIL ANSATTE MV Mp K Lø 2016 2015 2016 2015 Lø 13 629 11 452 48 931 49 452 A 1 613 1 528 7 022 7 102 Pj 2 245 3 126 8 348 15 691 A y 528 496 3 621 1 705 A ø 0 0-21 156-17 967 A ø I AS 0 0 10 315 0 Su 18 015 16 600 57 081 55 983 A y 15 15 83* 80 *) u Gu E AS Sy h pj ø Pju æ 66% ø pu O y p u æ yh Y p A ø Sy Lø/yh 1 702 775 A jø 6 Mp K R (øp ) 2016 2015 2016 2015 Rjh 95 61 413 260 Aj 0 0 45 45 S- 131 16 170 51 Ø 361 110 607 310
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 24 6 PENSJONSKOSTNADER OG PENSJONSFORPLIKTELSE Sp p h jpj jpj Sp pj D pøp pj- AFP-p j p pj, NRS 6 M hy øh uøh y u KLP u Fø u ø: Mp K P % 2016 2015 2016 2015 D 2,60 2,75 2,60 2,75 F p 3,60 3,30 3,60 3,30 F ø 2,50 2,50 2,50 2,50 F G-u 2,25 2,25 2,25 2,25 F pju 1,48 1,48 1,48 1,48 Pj pp KLP N pjppj 1 304 2 595 4 051 8 188 R pjp 1 191 435 4 826 4 766 A p pj -1 060-375 -4 310-4 113 Aj 127 47 455 511 Ruø u p 886 426 3 626 4 675 A pj 0 176 37 567 1 057 A -202-71 -1 431-779 N y ø pjp 0 31 0 345 A pj I AS 1 131 N pj 2 422 3 126 8 915 14 651 B pjp 46 518 16 878 187 168 189 003 Pj 35 466 12 268 144 724 137 384 I uø -11 115-5 143-43 289-57 588 A -8 521-97 5 833 Ø pjp ( )* 918 85 918 936 N pjp I AS 0 0 16 678 0 N pjp 847 73 16 653 799 D u u p y u j *) Ø pjp j cpj ø D
25 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 7 NETTVIRKSOMHET E p p, h, NVE h D p h h u D u, ø, p h h u B høy, ø u h h p R D SUM I 13 589 87 292 100 881 I puj 0 0 0 E 296 2 256 2 552 K 18 075 32 000 50 075 E u u 2016 1 359 2 287 3 646 KILE -415-5 625-6 040 Bu 32 904 118 210 151 114 P 1 044 127 043 128 087 I u 32 000 0 32 000 Å -140-8 833-8 973 Bø -/ 01012016 0 33 216 33 216 E NVE, uø 2016-140 284 Å 140 8 833 8 973 Bø -/ (-) 31122016 0 42 333 42 333 Bø -/ 01012016 67-2 278-2 211 E NVE, uø 2016 0 0 0 R 25% 300 300 Pøp -/ -1 424 423 Bø -/ 31122016 66-1 554-1 488 K: SUM K 18 075 32 000 50 075 E 296 2 256 2 552 D p 1 479 19 787 21 266 Np 3 447 5 116 8 563 Oæ 2 156 9 741 11 897 Ø 3 767 33 924 37 691 Su 29 220 102 824 132 044 Du 2016 3 684 15 386 19 070 B h: R D V p 01012016 29 728 219 088 V p 31122016 39 312 255 376 Gu (Gj + 1% p) 34 865 239 604 A/Du 3 684 15 386 A 10,6% 6,4%
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 26 8 INVESTERING I AKSJER OG ANDELER Sp E E A Bø Gu E Puj AS Gu E H AS 100,00% 206 151 206 151 Gu E N AS Gu E H AS 100,00% 262 143 262 143 Gu E Fy AS Gu E H AS 100,00% 18 356 18 356 Su ø j p 486 650 486 650 I AS Gu E H AS 50,00% 72 667 72 667 Su ø j h 72 667 72 667 E E AS Gu E H AS 35,34% 11 737 11 737 Su ø j y p 11 737 11 737 E B AS Gu E H AS 2,23% 16 036 16 036 Kupuu AS Gu E H AS 12,50% 50 50 Spp Kupp AS Gu E H AS 8,84% 200 200 G Tuøyp AS Gu E H AS 0,54% 6 6 Su ø j 16 292 16 292 Tø AS Gu E N AS 5,88% 50 50 E E AS 4 372 2014 N 1 202 2015, 3 170, 2016 I S K, H S Ajø R h p juu
27 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 9 DATTERSELSKAP, TILKNYTTET SELSKAP MV F (F) Rj K E S Gu E Fy AS D N F 100,0% 100,0% Gu E N AS D N F 100,0% 100,0% Gu E Puj AS D N F 100,0% 100,0% I AS F h H 50,0% 50,0% E E AS Ty p Sø-Tø 35,3% 35,3% Au V DA Ty p Gjø 37,5% 37,5% Au R DA Ty p Gjø 20,0% 20,0% I y p u pp I p u p I h I AS, u pp I p u u I p Gu E H AS u- p M ppjøp u p Dp A Bø Ep 2016 Ru 2016 Gu E Fy AS 18 356 18 356 23 448-6 401 Gu E N AS 262 143 262 143 274 332 14 543 Gu E Puj AS 206 151 206 151 178 090-846 Su 486 650 486 650 475 870 7 296 Ty p p F I 01012016 T / Å u U 31122016 E E AS 55 1 566 998 2 618 Au K DA 50 0-50 0 Au V DA 258 1 875-1 328 805 Au R DA 9 867 47 374-1 056 56 185 Su 10 230 50 815-1 437 59 608 K h 2016 Au R DA ø p p 8 145, u pj
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 28 F h u Rpj Bøp K 405 147 Kjøp 348 530 Lø 10 315 A 3 246 A 24 337 A 631 S 3 782 Åu 14 306 U -9 824 I 51 010 Tp, øø 3 981 L h -23 100 A 14 160 V 6 900 Ku 105 522 A 141 847 Bu, 212 834 Su 503 331 Pjp 16 678 Løj 76 945* B 15 457 Sy 13 564 A j 265 989** Su j 388 632 *) Løj Gu E N AS p 8 300 p **) A j Gu E H AS p 156 389 p Ep h Bø p (u) Gu E AS h 60 477 Å 44 916 M uy -5 000 Å u h 14 306 U 114 699 D æ uy Gu E AS p 5 600 ø p I AS V uy p 5 000 I AS p 2016 B uy ø h Gu E H AS 2016
29 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 10 MELLOMVÆRENDE MED NÆRSTÅENDE SELSKAP Mp K A 2016 2015 2016 2015 L E E AS 1 646 5 650 1 646 5 650 F Gu E Fy AS 44 009 0 0 0 A F I AS 5 000 0 0 0 F Gu E N AS 38 202 7 710 0 0 F Gu E AS 151 389 12 607 151 389 0 A j K j Gu E Puj AS 9 954 1 674 0 0 L h Py I AS 150 000 Bø 23 100 I pp ø h p 23 100 Py p 150 000 D y j ø u, j 2 11 SKATTER I S up p u U 25% p u j p-, uu ø u p Sø u j p u ø Nuu Nuu uuh p u j puj y S 1,3 ø/wh 2016 Nuu u u Eu u uu ø u u Gu I puj ø æ u Gu ujø 33% 2016 34,3% 2017 U u 34,3% p u j p, ø u M upu u ppø pp up puj hø p, u j p p D j j I u j p up N p 0,5% Gu æ h Gu æ, - u h U U u upu j p 2016- p p 25% E E ujø u j D 0,7% E upp up, ø
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 30 Mp K Å p u : 2016 2015 2016 2015 B uu 0 0 709 719 B u u uu 0 0 16 509 0 E u -5 027-937 -11 413 7 307 E u u 0 0 435 8 323 N u 0 0 0-644 Kj 0 0 26 0 S p u -5 027-937 6 266 15 705 B : B p u 0 0 16 247 0 SFu 0 0-790 0 N u ( u) 0 0 0-644 B uu 0 0 709 719 Su 0 0 16 166 75 A : Ru ø 9 343 5 830 53 121 34 108 F (25%) 2 336 1 574 14 343 9 209 S ø p: E u 249 76 307 1 230 P j -7 612-2 586-8 819-2 413 F ø u uu -5 027-937 5 831 8 026 F p -53,80% -16,07% 10,98% 23,50% B u 0 0 0-644 Å u u 0 0 435 8 323 Su u 0 0 435 7 679 Su -5 027-937 6 266 15 706 S -53,80% -16,07% 11,80% 46,05% V h pp y 8 500 VA 2015 u u Bø u y V uj p 01012015 8 186 u 2015 Spj j - Oæ : Mp K A 2016 2015 2016 2015 V -251-319 -31 245-9 758 K /j 0 0 19 519-33 Ø /p -98 18 3 291 12 928 Uu ø 6 320 1 245 14 382 3 462 B uu 0 0 1 428 719 5 971 944 7 375 7 318
31 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 Å uu: Epuj j 7 M: 54 530 000 Wh * 1,3 ø = 708 890 K Gu: Å u u ø: 2016 2015 Puj 10 439 8 736 G j 0 0 Su 10 439 8 736 D puj 3 672 6 603 Kj 1 043 1 132 S 2 334 2 378 F 262 699 Su 7 311 10 812 Gu u 3 128-2 076 A ø u -3 128 0 Gu u ø NGI 0-2 076 Å u (33% / 31%) 0-644 U u: IB N u ø 27 941 39 013 B u V 0-11 886 R p ø NGI ø 01012007 559 814 A ø u -3 128 0 Gu u 25 372 27 941 Bø u NGI, (34,3% / 33%) 8 703 9 221 Spj j - Gu: K 2016 2015 V 3 482 3 398 K /j 0 0 Ø /p 0 0 N u ø 8 703 9 221 U u (34,3% / 33%) 12 185 12 619
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 32 F p hu, j u p j u A ø Bj Sp p 100 ju
33 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 12 ANTALL AKSJER, AKSJEEIERE MV Kph A j Py Bø Oæ j 151 400 1,000 151 400 Ajæ A j E S Ru Ku 45 420 30% 30% Øy Ku 45 420 30% 30% N-F Ku 30 280 20% 20% Sø-F Ku 30 280 20% 20% Su 151 400 100% 100% 13 EGENKAPITAL Mp Ajp A p Su P 01012016 151 400 382 937 534 337 Å u 0 14 371 14 371 A uy 0-27 090-27 090 P 31122016 151 400 370 218 521 618 K Ajp A p Su P 01012016 151 400 365 701 517 101 Å u 46 855 46 855 A uy -27 090-27 090 P 31122016 151 400 385 466 536 866 14 BANKINNSKUDD / SKATTETREKK I p 31122016 715 p 2 409
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 34 15 FINANSIELL OG MARKEDSMESSIG RISIKO Vu Gu E p Kjøp p p Gu E u p æ D u u, p u p p R Gu E p j pp D p V p uh p K R p h ø ppy p, h h æ p p L K h h j p D h p, u æ D p p ø jøp y ø p, ø u 16 LANGSIKTIG GJELD K L j 5 2016 2015 P j uj 398 894 0 P : Aj p 486 650 0 Aj h 72 667 0 Su 559 318 0 -H p øuy? P Ch F u Kj Ju Øy S (Hh) u juu
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 38 GUDBRANDSDAL ENERGI NETT Sp y, uj p Sp 100% Gu E H AS O u u Kj h u N-F, Sø-F, Ru, Øy Sj- S I 2016 h æ y y hy, y E6 u D ø pp j Gu E N AS, hh 17-5 Sp uy y B u E B AS 2050 Oj- p h ø u ø h D æ 2019 V 1 j u y Føp AMS-y j Gu E N 48, h 2016 h 24 Sp h u 2016 p 19,4, u p 14,5 Vh p p u 31122016 31122015 Ru ø (MNOK) 18,9 4,0 A u 19 264 18 737 I (MNOK) 102,9 57,6 Å, æ 58 54 Syæ 4,7% 2,7% P æ 1 2 Fu Gu E N AS uy uj -, -, u D p pp u p pj ph u p Gu E N AS uu
39 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 GUDBRANDSDAL ENERGI PRODUKSJON Sp y, puj, hu puj j p V p Sp 100% Gu E H AS O u u Sp V Ru u, M Å Øy u Å K ju F puj 10 GWh y, 2016 pu 2,8 GWh Sp u Øy N-F I pu 76,4 GWh 81,4 GWh 2015 A u 11,9 GWh Opp E AS h Sp h u 2016 p 0,4, u p 0,8 Spp h ø 2016 h 2015, h ø I 2015 ø 4,1 Å 2,8 D pp y u h y pp U pp y p u u ø A hu u j ø u 2,8 Sp h 2015 ø V u u T pp ø 2015 Vh p p u Sp h pøj jjøp E V, h j u E V D p 31122016 D p Gu E H AS Fu Gu E Puj AS ø pp h M V 31122016 31122015 Ru ø (MNOK) -0,2 2,4 A 3 2 I (MNOK) 29,2 59,9 Pu 76,4 GWh 81,4 GWh I M, y Å j
ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 40 GUDBRANDSDAL ENERGI FORNYBAR Sp y, puj y p y, Sp 100% Gu E H AS Gu E Fy AS 37,5% Au V DA 20,0% Au R DA O u u Au R DA j p R Oj- Ep 2015, h uy 31 ø Ojø Ty Å u Vp 2019, pu 370 GWh Gu E Fy AS 2016 30% p Sw Müch P Gu E Fy AS 264 A 42,3 2016 I Gu E H AS Au V DA j p Kjø Oj- Ep 2015 Sp p uy Au K DA p K Oj- p Sp 2016 Rjø p Sp h u 2016 p 3,0, u p 6,4 G 30% Au R DA u Vh p p u K p y pp u u j p Au-p Sp h D p Gu E H AS Fu Sp u pj y uy
41 ÅRSRAPPORT GUDBRANDSDAL ENERGI 2016 INNLANDSKRAFT / GUDBRANDSDAL ENERGI D 2016 p E E AS j I AS I AS 50% h Gu E H AS E E AS I AS 100% Gu E AS E M AS I AS j, p O u u Ru h ø h j p Gu E AS A h j p I AS S u uu 2016 27,8 50% p I AS u p Fj h R
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