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THIS SHOWS HOW GREEN YELLOW CAN BE. Raiffeisen-Leasing Annual and Sustainability Report 2010


Green is the symbolic colour of life and stands synonymously for Raiffeisen-Leasing, who has numerous projects in the eco-energy segment. That is why you now hold the first green annual report in the history of yellow Raiffeisen-Leasing in your hand.


A COLOURFUL YEAR. The grey years have passed. In 2010, the leasing market again picked up drive and colour. Colours generate the most diverse associations and feelings in us. In the following pages, you can see the colours we associate with 2010.


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Table of Contents

1. THE LEASING MARKET IN AUSTRIA 1.1. Details on Individual Leasing Segments 1.1.1. Vehicle Leasing 1.1.2. Equipment Leasing 1.1.3. Real Estate Leasing

2. THE RAIFFEISEN-LEASING MANAGEMENT REPORT Preface to the Management Report Information on the Report in Accordance with GRI 2.1. Leasing Business and Portfolio Development 2.2. The Core Business of Raiffeisen-Leasing 2.2.1. Vehicle Leasing 2.2.2. Equipment Leasing 2.2.3. Real Estate Leasing 2.2.4. Municipal Financing: Consultancy - Efficiency - Sustainability 2.3. The Services of Raiffeisen-Leasing 2.3.1. Raiffeisen-Leasing Fleet Management 2.3.2. Construction Management 2.4. Raiffeisen-Leasing’s Own Real Estate Projects 2.4.1. Residential Projects in Austria 2.4.2. Commercial Projects in Austria 2.4.3. Residential Projects Abroad 2.4.4. Commercial Projects Abroad 2.5. Renewable Energy Projects and Operator Models in Austria and Abroad 2.5.1. Austria 2.5.2. Foreign 2.5.3. Contracting and Energy-efficient Renovation 2.6. Electric Mobility 2.7. International Leasing 2.7.1. Raiffeisen-Leasing in Central and Eastern Europe 2.7.2. Raiffeisen-Leasing in Western and Northern Europe 2.8. Employees at Raiffeisen-Leasing 2.8.1. Development of Employee Numbers in Austria 2.8.2. Strategy and Culture 2.8.3. Recruitment and Careers 2.8.4. Knowledge Management 2.8.5. Health Care 2.8.6. Activities of the Works Council 2.8.7. The Regular ‘Friday Morning Discussions‘ 2.9. Strategy and Outlook

8 10 10 10 11 12 14 15 16 17 17 18 18 19 21 21 22 24 24 25 26 27 27 27 29 31 32 34 35 36 36 36 37 38 38 41 41 42 42


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Table of Contents

3. RESPONSIBILITY FOR THE ENVIRONMENT 3.1. EcoBusinessPlan 3.2. Climate Protection within our own Sphere 3.2.1. Continuous Monitoring Through Our Own Ecological Controlling 3.3. Raiffeisen-Leasing’s Environmental Projects 3.3.1. Christmas Cards 3.3.2. Alternative Drives for Vehicles and Company Car Fleets 3.3.3. Raiffeisen Climate Protection Challenge 2010 3.3.4. Energy-saving Day 2010 – Focus Electric Energy 3.4. Renewable Energy and Energy Efficiency are the Future

44 46 47 47 49 49 49 51 52 53

4. SOCIAL COMMITMENT 4.1. Raiffeisen-Leasing in a Dialogue 4.1.1. The Stakeholders of Raiffeisen-Leasing 4.1.2. Lectures 4.1.3. EcoEnergy Blog 4.1.4. Eco-talks 4.1.5. Fireside Chat 4.2. Sponsoring of the Course of Study ‘Renewable Energy in Central and Eastern Europe’ 4.3. Social Commitment – Sponsoring Projects

54 56 56 57 58 59 60

5. CONSOLIDATED FINANCIAL STATEMENTS 5.1. Report on the Review 5.1.1. Introduction 5.1.2. Scope of the Review 5.1.3. Summary assessment 5.2. General Explanations to the Group of Consolidated Companies 5.3. Consolidated Balance Sheet as of December 31, 2010 5.4. Consolidated Profit & Loss Account for the Fiscal Year between January 1 and December 31, 2010

64 66 66 68 68 69 70

60 61

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6. ANNEX 72 6.1. The Members of the Advisory Board as of January 1, 2011 74 6.2. The Raiffeisen-Leasing Group as of January 1, 2011, Corporate Structure 75 6.3. The Organisational Structure of Raiffeisen-Leasing as of December 31, 2010 82 6.4. Important Addresses at a Glance 84 6.5. GRI-Index 88 6.6. Application Level Check 95


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Peter Engert

Karlheinz Sandler

Michael Ohner


Preface by the Management Board One of the biggest insights in 2010 was that the ‘United States of Europe’, as envisaged by many statesmen in the past, just will not happen for quite some time. The differences in speed of the political and economic development are simply too great, as are the dealings with transparency, the adherence to certain criteria and the will to consolidate national budgets. Greece and Poland were outstanding examples at opposite poles of development. However, for the international observer, this development is also apparent in other countries that are not quite as much in the limelight. As far as Raiffeisen-Leasing and its international portfolios are concerned, this environment has triggered an emotional roller coaster. While we were quite content with development in a large number of countries where we are represented, including Austria, other countries such as Italy and Hungary gave us reason for concern. Nevertheless, the situation has certainly stabilised when compared with 2009, and development during the first month of the current year points towards sustained improvement. With our annual report, we not only want to inform you about the economic situation, but also about our ecological and social commitment. Sustainability in economic activities means the refinancing of long-term investments with longterm instruments. Sustainability in actions means offering employees the opportunity of developing further and of creating fair framework conditions. Sustainability in customer relationships requires intensive customer care and transparent information. Particularly in

hard times, sustainability is a precondition for being able to ensure consistency. RaiffeisenLeasing has been consistently implementing these requirements in its corporate strategy for a long time. This requires the willingness of all employees and business partners to orient all activities towards sustainability - economic, strategic and socio-political. By dealing with the topic ‘sustainability’, RaiffeisenLeasing assumes certain responsibilities, both as a financial service provider and as a company that has the possibility of generating awareness of this topic in society. To us, sustainability also implies continuous development and the necessary adaptation to a changing environment. In addition to pushing ahead with our activities in ecology, we have used 2010 to analyse future scenarios: how a leasing group integrated into the Raiffeisen sector could act successfully in Central Europe in the coming ten years. We will inform you about the results of our thought processes and their implementation in our annual report 2011. We would like to thank all our customers and business partners for the trust they have placed in us and our employees for their outstanding commitment. We also thank our Corporate Advisory Board, chaired by Karl Sevelda, for supporting our plans and projects which, in turn, created the basis for continuing our commitment to you in the future.

Vienna, June 2011


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Raiffeisen-Leasing at a Glance Headquarters Raiffeisen-Leasing GmbH Hollandstrasse 11-13 A-1020 Vienna Tel.: +43 1 716 01-0 Fax: +43 1 716 01-98029 Email: leasing@rl.co.at Internet: www.raiffeisen-leasing.at www.oekoenergie-blog.at www.rl-mobil.at History 1970: Raiffeisen-Leasing GmbH founded as a 100% subsidiary of RZB AG 1987: Re-named to RALT Raiffeisen Leasing GmbH Since 1987: Raiffeisen-Leasing GmbH, with an enlarged shareholder structure. Shareholders Raiffeisen Zentralbank Österreich AG (51%) All Raiffeisen Regional Offices (49%) Regional Offices Burgenland, Carinthia, Lower Austria-Vienna, Salzburg, Styria, Tyrol, Vorarlberg

Managing Directors Peter Engert (Chairman) Michael Ohner Karlheinz Sandler Employees 363 (in Austria), 1,370 (international) Business Activities All forms of vehicle, machinery, equipment and real estate leasing, property development and comprehensive services such as construction management, fleet management and operator models, contracting, as well as projects in ecology and electric mobility. Domestic Contract Portfolio 51,357 leasing contracts with approx. €3.6bn outstanding balances. New business volume in 2010 Vehicle leasing € 323 million (+11%) Equipment estate leasing € 163 million (-7%) Real estate leasing € 246 million (-4%) Domestic & cross-border € 732 million (+2%) Foreign € 1,608 million (+59%) Total € 2,340 million (+35%)

The Raiffeisen Banking Group The domestic banking group has a three-tiered structure. It consists of independent local Raiffeisen Banks (tier 1), independent Raiffeisen regional Head Quarters (tier 2), and Raiffeisen Zentralbank (tier 3). The core business activities of Raiffeisen Zentralbank are its function as the central institute of the Raiffeisen Banking Group, the Head Quarters of the RZB Group, and the service unit for the ‘sector’. Raiffeisen Zentralbank thereby takes on important service responsibilities to ensure efficient co-operation within a de-centralised association of banks.

Deliberations on a possible restructuring within Raiffeisen Zentralbank already started before the beginning of the financial crisis and then led to a hive-off. In October 2010, it was merged with the RZB affiliate Raiffeisen International and now trades as Raiffeisen Bank International. Material parts of the operational business, mainly corporate banking, the product areas and investment banking were separated from Raiffeisen Zentralbank and merged with Raiffeisen International.


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Raiffeisen Banks

Raiffeisen Regional Offices Raiffeisen Zentralbank Raiffeisenlandesbank Burgenland Raiffeisenlandesbank Carinthia

528 Raiffeisen Banks

Raiffeisen Zentralbank Raiffeisen Bank International

Participation in Austrian financial institutions

Raiffeisenlandesbank Lower Austria - Vienna Raiffeisenlandesbank Upper Austria

Participations Network CEE

Raiffeisenverband Salzburg 1,738 Branch Offices

Raiffeisen-Landesbank Styria Raiffeisen-Landesbank Tyrol Raiffeisenlandesbank Vorarlberg

The Austrian Raiffeisen Banking Group is the leading banking group in the country. It consists of 530 independent local Raiffeisen Banks with approx. 1,740 branch offices, eight regional head quarters and Raiffeisen Zentralbank Österreich AG. As the county’s foremost institute, it has the most widespread network in the country, with a share of 44% of the total number of bank branches in Austria. The Raiffeisen Banks in the provinces are universal banks that offer a complete range of banking services and, at the same time, are the owners of their respective regional banks. The assets under administration by the Raiffeisen Banking Group amount to approx. €83 billion from domestic customers (excluding building society deposits) and, in addition, the bank holds approx. €50 billion in savings deposits. The Raiffeisen Banking Group is the country‘s largest banking group, with a balance sheet total of €255.2 billion as of 31/12/2010 and a market share of nearly 25% in the Austrian banking business.

Foreign subsidiaries and participations

The Raiffeisen Banking Group includes specialist companies such as the investment company Raiffeisen Capital Management; the insurance company, Raiffeisen-Versicherung; RaiffeisenLeasing; and the building society Raiffeisen Bausparkasse, each one of them ranking amongst the market leaders in Austria.* Our shareholder structure as of 01/01/2011

51% Raiffeisen Zentralbank Österreich AG

49% 8 Raiffeisen Regional Offices

Raiffeisen-Leasing GmbH’s shareholders are Raiffeisen Zentralbank Österreich AG, who holds 51% and the Raiffeisen Regional Head Offices, who hold 49%, the Raiffeisen Banking Group being the most important sales partner of Raiffeisen-Leasing. *Annual Report 2010 of RZB Group


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der Lagebericht der Raiffeisen-Leasing

THE LEASING MARKET IN AUSTRIA

Red is the colour of strength, of dynamism and of progress. You can see in the following pages, black on white, that progress in the leasing market became apparent again in 2010.

BLACK ON WHITE.

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1. THE LEASING MARKET IN AUSTRIA

1.1. D  etails on Individual Leasing Segments

The Consumer Credit Act which entered into force on June 11, 2010 and which not only applies to credit agreements in the narrower sense of the word but also covers leasing agreements, transposes the consumer-friendly EU Consumer Credit Directive into national law. The directive covers all types of deferred payments against a fee and in particular payment by instalments often used in business transactions.

1.1.1. Vehicle Leasing

In connection with the Consumer Credit Regulation, a further serious change took place in January 2011. The loan and credit agreement fee was abolished, but not the rental agreement fee. This means that lease agreements are now clearly put at a disadvantage compared with credit agreements. Nevertheless, the importance of leasing as a form of financing will continue to increase. This is shown by a survey carried out by the market and opinion research institute Integral* held at the request of the Association of Austrian Leasing Companies in January 2011. Next to cash payment, leasing is the most widely known and appreciated method of vehicle financing. Leasing is most popular in the age group 30 - 39 years and with families with children. *Integral polled, by means of on-line interviews, 501 Austrians who had bought a vehicle sometime in the last twelve months or intended to buy one in the coming twelve months (representative for the population aged over 18) as regards their financing requirements when purchasing a vehicle. In addition, their attitude towards vehicle leasing in general was surveyed. The survey took place from January 11 - 21, 2011.

The volume of new business in Vehicle Leasing increased by 5.4% to â‚Ź3.3 billion, and with a share of 56.8% makes it by far the best performing segment as far as turnover is concerned. In unit numbers, it achieved a growth of 4.7% compared with the previous year. The vehicle leasing market amounted to 150,760 units in 2010 and the number of existing contracts reached a record 456,381 units. The share of leased vehicles (share of vehicles financed by leasing of all new vehicle registrations) increased by 1.4% to 31.7%. The leasing share of commercial vehicles has been analysed for the first time and amounted to 60.3% for the whole of the year 2010, which means that more than 60% of all vehicles registered by companies were leased. The volume of new business in Fleet Management increased by 3.9% to â‚Ź463.0 million compared to 2009. After remaining stable, even in the crisis year 2009 with a growth of 0.2%, the fleet management market, when measured by the inventory development of full service leasing contracts, grew noticeably in 2010. In the first half of 2010, growth remained at 1.4%, but the dynamic development of the last two quarters led to an annualised growth of 5.4% and a record number of 66,018 full service leasing contracts. 1.1.2. Equipment Leasing New business in equipment leasing, which dramatically declined by 16.9% in the first half of 2010, recuperated in the second half of the year. With a plus of 4.1% for the whole year, the value of new equipment leases increased to


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THE LEASING MARKET IN AUSTRIA

© Color Wave OCÉ

€1.3 billion, but at the same time, the number of newly signed contracts declined by 10.1% to 19,153. This development led to an increase in the average contract value by 15.8% to €68,276.

Sales financing of office systems

As far as leased objects are concerned, the development differed greatly in the various sectors. The product groups with the highest share in the leasing volume ‘Machines and Industrial Installations’ as well as ‘Computer and Office Equipment’ were characterised by a decline of 14.1% and 3.4% in 2010, whereas rising demand for ‘Equipment and Installations for the Generation of Renewable Energy’ resulted in a two-fold increase of new business volume (106.9%). Therefore, based on purchase value, this segment has already moved to sixth place amongst all movable goods. The segments ‘Railway’ (91.7%) and ‘Aircraft’ (31.7%) also experienced a similar rise in business volume.

year on year by 5.6% to 215 (2009: 204). The average contract value went up from €4.5 to €5.4 million which confirmed the trend to larger investments in real estate leasing already seen in the business year 2009. The portfolio volume of Austrian leasing companies remained stable at a high level with a plus of 0.4%, and had reached €11.9 billion by 31/12/2010. However, there was a noticeable structural shift as regards object groups. Whereas there was a pleasing high demand for trade and commercial buildings (€314 million, +103.11%) and public buildings (€526 million, +80.3%) and also the volume of new business in industrial buildings developed favourably with a plus of 43% to €92 million, the segment ‘Office Buildings’ experienced a strong decline. The volume of new business of €42 million means that the Austrian leasing companies fell below the results of the previous year by 76.3%. A similar trend was seen in hotels and leisure buildings. In this segment, the Austrian leasing companies generated new business to the amount of €37 million in 2010, which corresponds to a contraction of 53%.

1.1.3. Real Estate Leasing The real estate sector shows that a continued recovery is discernible in the financing market. With an increase in new business from €922 million in 2010 to €1.16 billion (+26.3%), this segment proved to be the growth engine of the whole sector in the last year. The number of newly concluded leasing contracts rose

Leasing of industrial buildings showed a pleasing development in 2010.


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der Lagebericht der Raiffeisen-Leasing

THE RAIFFEISEN-LEASING MANAGEMENT REPORT

Yellow stands for optimism, joy of life and refreshment. Raiffeisen-Leasing’s development is also refreshing after the rather grey and cloudy years of the financial crisis.

TALKING IS SILVER. DOING IS YELLOW.

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PREFACE TO THE MANAGEMENT REPORT On the occasion of its 40th anniversary, RaiffeisenLeasing invited approx. 700 guests, employees, customers and partners to a spectacular event in Vienna‘s Museum Quarter in September 2010. The occasion turned into a review of the past four decades of world history of outstanding scientific and athletic performance, but also tragedies, which shaped a whole decade or whole countries. Raiffeisen-Leasing‘s various stages of development, acoustically accentuated by Radio Vienna‘s star presenter Alexander Goebel, blended together into a unique retrospective which was transformed through the performance of the dancing company Topasamur into an illustration of four decades of contemporary history. Being successful over a period in which the world seemed to have been moving faster and faster is a feat that could only have been achieved by constant orientation to our customers‘ requirements and by simultaneously forecasting future developments. To achieve this required, apart from solid management skills and committed employees, a co-operation with the supervisory boards based on trust. This approach and sustainability in all areas as

Raiffeisen-Leasing celebrated its 40th anniversary in Vienna‘s Museum Quarter.

a living, breathing corporate culture have been the basis of Raiffeisen-Leasing‘s expansion - from a one man show to one of the leading leasing companies with approx. 360 employees in Austria. For the last 40 years, there has always been a strong partner at your side, a partner with extensive know-how in financing and one who still places value on a handshake. Our customers have thus led us to distribution partnerships across a variety of industries which, in turn, have resulted in a further expansion of our portfolio. Owing to this service component and our expertise in the areas of ecology and electric mobility, which next to financing have continuously gained in importance over the years, Raiffeisen-Leasing has developed into a strong and valuable member of the Raiffeisen family. The 40th anniversary was a welcome opportunity to celebrate this development with employees, customers and partners, and to express a wish for the future, namely, that the next 40 years will be equally as successful for us and for our customers as the previous ones have been. This will only become possible by RaiffeisenLeasing‘s orientation to sustainability.


THE RAIFFEISEN-LEASING MANAGEMENT REPORT

INFORMATION ON THE REPORT IN ACCORDANCE WITH GRI This year is the fifth year in which RaiffeisenLeasing has published a sustainability report incorporated in its annual report. Our reporting orients itself again to the Sustainability Reporting Guidelines G3 of the Global Reporting Initiative that define the indicators of the three dimensions of sustainability, namely economy, ecology and social concerns (www.globalreporting.org). In the meantime, all related processes have been implemented in the company and are evaluated on a yearly basis. With focus on Austria, this sustainability report depicts the years 2008, 2009 an 2010 and it will be continued in the future. The criteria for defining the sustainabilityrelated content of the report were oriented to presenting the key areas of Raiffeisen-Leasing‘s performance in sustainability. In accordance with these topics, the relevant GRI indicators were identified, the key performance indicators defined and then discussed in a working group consisting of the areas: Controlling, Human Resources, Information & Organisation as well as Marketing & PR. The topics were prioritised according to their relevance to Raiffeisen-Leasing‘s business activities and their impact on society. The report is addressed to all stakeholders of RaiffeisenLeasing, in other words, to those groups that have an interest in the company‘s business activities and decisions.

The customer magazine ‘Leas.mich’ (Lease.me) keeps customers, business partners and those interested in current topics relating to RaiffeisenLeasing up to date. In addition, the company‘s website (www.raiffeisen-leasing.at) contains comprehensive information for all stakeholders and our target-group-specific folders cater to the information needs of these reference groups. Raiffeisen-Leasing uses new communication channels in order to reach its specific customer groups in the best possible way. With the EcoEnergy-Blog (www.oekoenergie-blog.at), we use an innovative medium to enhance the understanding of ecological alternatives. The platform www.rl-mobil.at offers everybody interested in e-mobility an opportunity for asking questions on this topic and for testing e-mobility. Our communication offer is rounded off with reporting on diverse events on Facebook and YouTube. Finally, the Annual and Sustainability Report offers all stakeholders an overview of the activities of the last financial year.

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2.

THE RAIFFEISEN-LEASING MANAGEMENT REPORT

2.1.

Leasing Business and Portfolio Development

Market share in Austria of new business, including cross border

BMW Austria Leasing GmbH 3.7% Raiffeisen-Impuls-Leasing GmbH 4.4%

A/A 25.8%

UniCredit Leasing (Austria) GmbH 13.8%

HYPO NOE Leasing GmbH 4.6% VB Leasing Finanzierungsges. m.b.H. 4.9% EBV-Leasing Ges.m.b.H & Co. KG 5.3% BAWAG P.S.K. Leasing GmbH 6.5%

The year 2010 already showed some signs of cautious recovery from the stresses and strains of the financial crisis. Touched off by the economies of Asia and the US, an upturn in industrial activities also became noticeable in the Euro-zone, albeit with some delay. Austria too, whose GDP contracted by 3.7% in 2009, benefited from the vibrant growth in neighbouring Germany and was able to report an economic growth of 2% in 2010. This recovery was mainly due to the export of goods, but consumer spending also improved despite a lower increase in real wages. This situation also brought benefit to the leasing business. The segment with the highest turnover, Vehicle Leasing, even managed to achieve record levels in 2010.

Raiffeisen-Leasing GmbH 11.9%

Porsche Bank Aktiengesellschaft 10.5% Erste Group Immorent AG 8.6%

All foreign subsidiaries of the Raiffeisen-Leasing Group combined generated new business to the amount of â‚Ź1.6 billion, corresponding to an increase of 59%. During this time, the economies, especially of Central and Eastern Europe, overcame the economic crisis quite differently. Whereas in some countries, above all in Poland, the Czech Republic and Slovakia, some subdued optimism was again discernible in 2010 after the difficult year 2009, others, such as Croatia, Romania and Bulgaria had still not recovered from the financial crisis by 2010.


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THE RAIFFEISEN-LEASING MANAGEMENT REPORT

Cross-border financing included, RaiffeisenLeasing generated 17,688 new contracts in Austria to the value of €732 million (up 2%). This represents a market share of 11.9% and means 2nd position in this sector. The segment Vehicle Leasing accounts for €323 million, Equipment Leasing for €163 million and Real Estate Leasing including own projects for €246 million of the total volume. New Domestic Business by Segments 2006 – 2010 (in million €)

Real estate leasing Equipment leasing Vehicle leasing

292

294 2006

322

304 2007

256

246

175

163

287

290

323

2008

2009

428

2010

Development of Contract Volumes 2006 – 2010 (in million €)

Real estate leasing Equipment leasing Vehicle leasing

Raiffeisen-Leasing is fully aware of its responsibility relating to its products and services and offers its customers fair and transparent conditions. In doing this, it adheres to all its obligations to inform, as transparent communication with business partners is the company‘s foremost principle. Product information is not only available on our website but also in printed form and in contracts.

381

During the business year 2010, the outstanding capital of the domestic contract portfolio reached approx. €3.6 billion (up 1.4% on the previous year) with a total of 51,357 leasing contacts (up 8.5% on the previous year).

2,077

 he Core Business of T Raiffeisen-Leasing

2.2.1. Vehicle Leasing

370 479

2.2.

2,307

2,222

2,168

2,209

663

650

802

789

768

550

594

607

618

649

2006

2007

2008

2009

2010

During the last business year, the business line Vehicle Leasing generated 14,996 contracts with an acquisition value of €322.6 million, which corresponds to an increase of 11% compared with 2009. Raiffeisen-Leasing generated the major part of the volume i.e. €201.3 million with corporate customers, €98.9 million with private customers and a further €22.4 million with municipal contract partners. 71.1% of the volume of new vehicle business relate to private vehicle contracts, 23.1% to HGV contracts and 5.8% to other vehicles. With a market share of 9.8% (2009: 9.3%), Raiffeisen-Leasing ranks third in terms of new domestic vehicle business, including crossborder, and has thus managed to retain its ranking. The cooperation between RaiffeisenLeasing and the UNIQA Insurance Group, which was initiated in 2009, also developed very successfully and approx. 4,500 contracts were acquired and handled in 2010. However, it sometimes happens that seemingly advantageous leasing offers are not quite as cheap as they originally appear and very often the


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residual value is speculated on. This is, however, not the case with Raiffeisen-Leasing since we use the objective values of the Eurtotax index for used cars and take the normal wear and tear of the vehicle into account. This ensures that the customer is not confronted with substantial deviations from the estimated residual value when the contract terminates. Equally as transparent as the calculation of the residual value is the sales channel of the new service product ‘Raiffeisen Online Leasing’ which can be found on Raiffeisen ELBA Internet. In only three steps, our customers can choose both the vehicle and the down payment, indicate the duration and the mileage, and then order or fix an appointment online.

which possess a useful life exceeding one year as well as a certain marketability can be leased. This includes, amongst others, office equipment, telephone and IT equipment, construction machinery, production installations and surgery equipment, but also aircraft and ships. Especially in this area, sales co-operations are very important. In 2010, we were able to continue long-standing partnerships in the area document management, office printing (OCÉ, Ricoh) or shelving systems (Jungheinrich), just to mention a few examples. In the segment Medical Technology Leasing, Raiffeisen-Leasing offers tailor-made leasing concepts and takes on the complete financing of cost-intensive medical technology. Since medical diagnostic and therapy equipment is considered obsolete after only five to ten years, it is even more important for the clinical segment and general practitioners to invest in the latest equipment to be able to offer state-of-the-art technology. 2.2.3. Real Estate Leasing

Vehicle leasing is right in line with the trend. 2.2.2. Equipment Leasing Equipment leasing means the surrender of use of movable assets that count as economically independent units. The value of new business of €163.4 million with 2,651 contracts generated by Equipment Leasing dropped by 7% against the background of a still very restrained willingness to invest. Raiffeisen-Leasing now ranks third, with a market share of 10.3% (2009: 11.8%). In principle, all movable capital goods

The volumes in real estate leasing, including own projects, also retracted in the last business year. Overall, Raiffeisen-Leasing generated new business to the amount of €246.4 million, which corresponds to a reduction of 4%. Commercial real estate leasing accounted for 87.9% and municipal leasing for 12.1%. Based on domestic turnover, incl. cross-border activities, Raiffeisen-Leasing ranks second in real estate leasing with a market share of 19.6% (2009: 23.9%). We were furthermore able to sign a large-volume contract with Alpine Deutschland AG in Munich on July 14, 2010. This contract relates to a buy and lease transaction with the current head


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THE RAIFFEISEN-LEASING MANAGEMENT REPORT

office of Alpine Bau Deutschland AG in Eching near Munich, and the construction of new offices which should be completed by September 2011.

Amongst some very satisfactory projects was the extension of the business premises of Messrs. Telair (in Miesbach/Bavaria) whose opening ceremony took place on October 1, 2010. Telair developed from what was initially a manufacturer of small components to a supplier of market relevance in aircraft loading systems which are now used to fully equip certain types of aircraft. In view of the expanding airfreight market, the company intends to further develop this segment. 2.2.4. M  unicipal Financing: Consultancy Efficiency - Sustainability Municipal financing by Raiffeisen-Leasing is based on comprehensive consultancy services offered to municipal decision-makers. Within the framework of Raiffeisen Municipal Services of the Raiffeisen Banking Group, these consultancy services aim at generating efficient, sustainable solutions for municipalities. Especially in these times of tight budgets, Raiffeisen-Leasing and its products offer an opportunity for optimising the financing period and investment costs or for hiving these off from budgets into partnershipbased models.

■ C  onstruction and redevelopment of buildings and installations owned by municipalities, with guaranteed fixed costs and energy savings ■ Building land reserve models for structured settlement development ■ Redevelopment and new installation of public lighting ■ Transport infrastructure services ■ Operator models in ecological energy recovery ■ Leasing of fire brigade equipment and vehicles Raiffeisen-Leasing addresses its products towards progressive and innovative municipalities, for which topics such as energy efficiency, environmental protection but also electric mobility are very important. These municipalities explicitly display this approach by participating in programmes such as the Climate Alliance, e5, EMAS etc.

© Municipality Altenmarkt/Pongau

At the end of July 2010, Messer Group laid the foundation stone for the new head office of the business unit Industrial Gases and Medical and Health Technology in Gumpoldskirchen in Lower Austria. The new building - comprising a warehouse incl. a workshop and offices - of a total investment €1.5 million is being financed by Raiffeisen-Leasing. The strategy for this construction was to use synergies to the benefit of the customer.

There is nothing to stop the municipality’s fun of swimming.


© TIN ARCHITEKTUR ZIVILTECHNIKER-GmbH

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The new building and extension of the Central School in Marchegg will become reality in the autumn of 2011.

We also accompanied the Government‘s funding initiative for thermal rehabilitation with our own activities. Raiffeisen-Leasing was, amongst others, present at the Association of Cities and Town‘s meeting in Villach. Raiffeisen-Leasing, representing the Raiffeisen Banking Group, was one of the main sponsors at the Community Fair and the Meeting of the Austrian Association of Municipalities in Graz. In the last annual report, we already predicted that the municipalities‘ share of financial compensation, which forms a substantial part of their budgets and investment programmes, was to be dramatically reduced. At the same time, the municipal budgets were burdened with the increasing cost of social services. This greatly limited the room for manoeuvre of individual municipalities and as a result the financial margin of most municipalities became negative in 2010. In order to counteract this situation, RaiffeisenLeasing increased its focus on direct contact with the public sector. Based on a steadily growing trust, we raised the number of contacts by 22%, but even so, the number of potential projects decreased by 19%. However, many projects were only postponed for a certain time. The number of contracts fell by 9% and the value of acquisitions by 23.6%.

The most successful example of 2010 was the new building and extension of the Central School in Marchegg. In this project, the energy set-up of the existing structure is being redeveloped and a state-of-the-art extension added. Together with a technical partner, Raiffeisen-Leasing guarantees both the total price and the energy consumption. In future, the pupils can study in a very comfortable school from the first to the eighth level. The municipality can rely on the fact that the investment cost will not be exceeded and, in addition, the energy consumption is exactly defined. Electric mobility played an important role in the municipality financing sector. Electric bicycles and electric cars are very strongly supported particularly in the Province of Vorarlberg. The success of Municipal Financing was consistent with the situation in the municipal economy in 2010. However, we can draw hope from 2011. Due to higher public authority tax receipts, the municipalities‘ share of revenue started to rise again from the middle of 2010 on. The municipalities will benefit from this through financial compensation. However, one can assume that the financial margin available to most municipalities will again be negative in 2011, but compared with 2010, an increase in the public sector‘s investment activity is to be expected.


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THE RAIFFEISEN-LEASING MANAGEMENT REPORT

2.3.

The Services of Raiffeisen-Leasing

2.3.1. R  aiffeisen-Leasing Fleet Management Raiffeisen-Leasing Fuhrparkmanagement GmbH (RL-FPM) was managing more than 8,300 vehicles (passenger and transport vehicles) throughout Austria by the end of 2010. The company, founded in 1995, is a 100% subsidiary of Raiffeisen-Leasing which is responsible for domestic and international customers in all business sectors. RL-FPM is able to offer added-value that goes beyond traditional fleet management, from small fleets starting with five units to large fleets exceeding one hundred units. Services range from designing company car policies and advising on the selection of suitable vehicle models to the ongoing management of vehicles and their disposal. In addition, eco-fleet management helps customers to reach their CO2 savings targets. Fleet Management offers its customers the simple, cost-saving utilisation of company cars and relieves them of all related administrative expense. The customer can choose from a comprehensive range of services that are precisely tailored to his requirements. The overall comprises:

service

portfolio

of

RL-FPM

■ F  inancing: Fleet financing considers the individual situation of a company and also includes the optimal operation of vehicles from a tax perspective. RL-FPM offers all types of lease financing, from financial leasing or residual value leasing to operating leasing. ■ T  echnical assistance: Regular technical check-ups of vehicles and the high competence of the mechanics ensure the

necessary and appropriate maintenance and service. The individual authorisation of the customer makes certain that every repair is actually necessary. Safety and efficiency have priority. Tires may be purchased from 300 tyre-partners throughout Austria, where they can also subsequently be stored. ■ F  uelling/Ancillary expenses: Partner companies in the car trade and suppliers of vehicle spare parts as well as oil companies provide the required spare parts, fuel and lubricants and ensure that the vehicles are regularly refuelled. In addition, parking and motorway receipts paid out in cash can be included. ■ I nsurance: Should anything untoward happen, RL-FPM handles the entire claims settlement. In addition to compulsory thirdparty liability insurance, we also offer any additional cover that the customer may require. ■ R  eporting: Fleet monitoring and supervision are core responsibilities of RL-FPM. Strategic control and operational implementation free up resources for other entrepreneurial tasks. Reporting, the core element for reaching the right decisions, is prepared by RL-FPM on an individual basis. The customer can focus on the optimum utilisation of his vehicle fleet while RL-FPM takes care of the commercial and technical details. These components can be combined into modules as and when the customer requires them and thus constitute optimum solutions for each of his individual situations. Depending on the type of contract chosen, a cost guarantee can be agreed on for the technical component (maintenance/tyres). The services are managed cash-free by means of a so-called Drivecard and


22

Outsourcing the fleet management, and saving costs!

We pay particular attention to the ecological aspects of a fleet. The underlying idea is to provide FPM customers with special ecofleet management consulting and support if so required. RL-FPM analyses the fleet and calculates the actual CO2 emissions. Measures are defined by long-term planning that enable the customer to lower the fleet‘s CO2 emissions and, at the same time, ensure that the fleet‘s operating costs are reduced. We accompany the implementation measures and prepare regular reports. The number of managed fleet vehicles in Austria grew by 3.6% during the last year, whereas Raiffeisen-Leasing Fleet Management was in the privileged position of being able to increase its vehicle portfolio by 13.3%. Raiffeisen-Leasing Fleet Management was again ISO 9001 certified in 2010 Our ISO 9001 certification ensures that all supported vehicles are managed with cuttingedge processes and outstanding quality. Based on customer feedback from an annual poll, we derive corresponding improvement measures

which, in 2010, led to a new programme of offers and a new reporting system. Customers now have the possibility of calling off important fleet information on-line. In addition, companies can configure their desired vehicle, including a calculation of the operating costs, by means of an on-line car configuration. This makes the process of defining a new company car more convenient for employees and it is less timeconsuming for internal fleet managers. Our customers see the fact that RL-FPM has no ties to any particular vehicle manufacturer and that it offers customers objective advice as a clear advantage, which is one more reason why RL-FPM counts amongst the top providers in Austria. 2.3.2. Construction Management

© RLB Burgenland

© Raiffeisen-Leasing, W. Denk

all information is provided electronically in the form requested by the customer.

Raiffeisen Finanz Center Eisenstadt: The whole restructuring took place during ongoing operations.

In 2010, the two construction management teams in Innsbruck and Vienna accompanied and concluded numerous projects. The services comprised ongoing supervision, project management and general planning as well as acting as general contractor. As in previous years, the area ‘Energy Efficient Building and Renovation’ developed into an important cornerstone. In 2010, the community


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THE RAIFFEISEN-LEASING MANAGEMENT REPORT

The opening ceremony of the energy-efficient community centre Irnfritz-Messern.

In the case of the newly built community centre on the main square of Irnfrith-Messern (Horn district), Raiffeisen-Leasing acted as sole contractor and lessor. The building, with a total cost of €1.25 million, was constructed within one year. The two-storey building with a usable floor space of 720 m2 is barrier free and designed for optimum energy efficiency. Compared with that of the previous municipal offices, the energy saving amounts to 60% and the heat is supplied by the local district heating system. Complete renovation and building projects of municipalities and schools are, in general, only feasible by combining the financing and the construction management, as was the case with the ‘Herrenhaus Marbach’ or the kindergarten in Köngstetten which was also completed in 2010. With these projects too, the budgeted costs were adhered to or were less - despite a rather unusual architecture. A particularly challenging project was the new construction and modification of Raiffeisenbank Eisenstadt (Raiffeisen Finanz Center). It had already been started in previous years and

the second construction phase - the whole restructuring took place during ongoing operations - was handed over to the customer on time in the autumn of 2010. With this project, the project management, including all involved suppliers, managed to stay substantially below the budgeted costs. A further bank, the Raiffeisenbank Deutschkreutz-Nikitsch, was completed at the beginning of October 2010. One more of Raiffeisen-Leasing‘s own projects with its partner Signa, the convenience shopping centre ‚west‘ in Innsbruck, was opened in the autumn of 2010. In the case of Raiffeisenbank Mittelbregenzerwald, which was built as a passive house, Raiffeisen-Leasing was also responsible for both the financing and the project management. The construction of Vorarlberg‘s first rehabilitation clinic, which focuses on cardiology, orthopaedics and neurology, closed a gap in the province‘s health services. In the project Rehabilitation Clinic Montafon in Schruns, VAMED was responsible for the project development and realisation and is also in charge of the clinic‘s day-to-day operation. Raiffeisen-Leasing and Raiffeisenlandesbank Vorarlberg joined as project partners as each owns a 50% share in the holding company.

© Reha-Klinik Montafon

© Marktgemeinde Irnfritz-Messern

centre Irnfritz-Messern and the secondary modern schools in Harmannsdorf and St. Anton on Arlberg were handed over to the customers within the agreed deadlines.

Raiffeisen-Leasing: Financing partner of Vorarlberg’s first rehabilitation clinic.


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But also some of Raiffeisen-Leasing‘s own projects were realised in 2010, such as the exclusive residential complex Naaffgasse on Schafberg. Construction is expected to start soon on various other projects, for instance, on the residential complex in Laimburggase in Graz. The residential construction project on Vienna‘s Wilhelminenberg will be handed over towards the end of 2011.

18th district, Naaffgasse 86, were completed successfully. Both projects stand out by their high standards of construction and top quality interiors designed for discerning tastes and are predominantly destined for owner-occupiers. Owing to the long-lasting value of the locations, several investors also acquired these apartments for letting purposes.

2.4.

 aiffeisen-Leasing’s Own Real R Estate Projects

Raiffeisen-Leasing also applies its extensive experience as service provider and financier to its own projects. We plan and build commercial real estate such as shopping malls, retail parks and office buildings. Raiffeisen-Leasing is also very active in private residential construction with a focus on prime locations and high-quality interiors.

Einsiedeleigasse, 1130 Vienna.

A further, very attractive residential project lies close to Wilhelminenberg Castle in Liebhartstalstrasse 62, in Vienna Ottakring. Even though construction started only recently, the first apartments have already been sold based solely on the plans.

© bolldorf²architekten/M. Kundt

All in all, 2010 was a successful year for Construction Management, a year in which all projects were finalised within or below the budgeted cost and time lines.

© Irene Schanda

The staff unit Construction Management East handled wind energy projects in Balchik/Bulgaria, Scharndorf and Berg. Various photovoltaic projects in the Czech Republic were successfully accompanied and concluded at the beginning of 2011.

2.4.1. Residential Projects in Austria During the last few years, over 1,200 freehold apartments have been constructed and sold in and around Vienna, with further construction projects in the implementation phase in Graz, Salzburg, Innsbruck and Kitzbühel. In 2010, the residential projects in Vienna‘s 13th district, Einsiedeleigasse 4, and in Vienna‘s

Liebhartstalstrasse, 1160 Wien.

The planning for the inner city buy-to-let apartment project in Vienna‘s 3rd district, Jacquingasse 16, located directly next to Belvedere Garden, was finalised and the required building permit


25

THE RAIFFEISEN-LEASING MANAGEMENT REPORT

© ATELIER HIESS, IMAGE © 2011 www.oln.at

issued. In Vienna‘s 9th district, Seegasse 10, the construction of centrally located buy-to-let apartments was initiated.

Jacquingasse, 1030 Vienna.

In Vienna‘s 19 th district, Krottenbachstrasse 186-190, Raiffeisen-Leasing acquired a plot of land for a residential construction project and invited several architects to develop ideas for its implementation. A jury of five members selected the winning submission from eight design proposals for a project in 8010 Graz, Laimburggasse 40. The work on this residential construction project will start very soon.

2.4.2. Commercial Projects in Austria During the last few years, Raiffeisen-Leasing has developed numerous commercial properties, focusing principally on shopping centres, retail parks and some office projects. The shell work on the office centre ‘Rivergate’ on Vienna‘s Handelskai was finished in record time, after only twelve months following the ground-breaking ceremony and 24 months after planning had started. The accompanying control was in the hands of Construction Management Team West. The ‘Rivergate’, which received the DIVA Award in 2010 for the best office complex development of the year, captivates interest through its excellent location and optimum infrastructure. In addition to the EU GreenBuilding Certificate, the ‘Rivergate’ stands apart from others as the first building in Austria to receive the coveted LEED Certificate with gold status.

© Signa Development

On Lebenberg, a particularly attractive location in Kitzbühel, planning was concluded for 22 exclusive apartments and two villas in a modern interpretation of rural building style, and the presale phase started at the end of last year.

Award-winning: The Rivergate in 1200, Vienna.

Exclusive living on Lebenberg in Kitzbühel.

In Innsbruck‘s Hötting district, a 16,000 m² shopping centre, the ‘west’, was built and opened in October 2010. The 5th High School of the provincial capital Innsbruck was built over the ‘west’ and full-time teaching started in the spring of 2011. This type of bi-functional utilisation of


26

© SIGNA

the object as school and shopping centre, which are located on separate floors, is so far unique in Austria. Both projects were realised in cooperation with the SIGNA Group.

The bi-functional use of the ‘west’ is unique in Austria.

estate developers. In total, four residential complexes were completed and marketed, and three additional projects are currently in the implementation phase. Owing to the great success so far, further residential construction projects are in the planning stage. Various construction projects are also being implemented in CEE countries: in Ploies¸ ti (Romania), 44 freehold apartments were developed and construction was completed at the end of the year. The building permit for an additional residential construction project in Timis¸ orara was obtained in 2009. Owing to the difficult economic situation in Romania, construction has not yet begun.

In Vienna‘s 20th district, Dresdnerstrasse 107, Raiffeisen-Leasing acquired a further commercial plot of land on which an office complex with passive house standard is currently being developed. 2.4.3. Residential Projects Abroad In its fifth year since its founding, RaiffeisenLeasing‘s Swedish subsidiary RL-Nordic, located in Stockholm, again implemented some impressive residential construction projects together with large Swedish real

© Oscar Properties

Freehold apartments in Ploies¸ ti, Romania.

Tegeludden - Sandhamnsgatan 39: The project is distinguished by a location that is centrally situated and simultaneously close to nature (Visualisation).

An exceptional project is being prepared in Gardone (Italy) in co-operation with the SIGNA Group, where several luxury villas are planned which are set in an exclusive location with a splendid view over Lake Garda.


THE RAIFFEISEN-LEASING MANAGEMENT REPORT

© Achitekt K4a.s. Brünn

2.4.4. Commercial Projects Abroad

Sportovni Center Brno, Czech Republic (Visualisation).

After successfully implementing the ‘BondyCentrum’, a shopping centre in Mladá Boleslav (Czech Republic), a retail project is being prepared in Brno-Sportovni. In Western Europe, to be exact in Italy, an additional and very attractive area of activity has crystallised, namely the development of Factory Outlet centres. Raiffeisen-Leasing works together with one of the leading outlet developers and operators in this interesting market niche. Close to Pisa, the construction of a new location is scheduled.  enewable Energy Projects and R Operator Models in Austria and Abroad

© Cotefa Ingegneri & Architetti

2.5.

Outlet Village Crespina, Italy (Visualisation)

2.5.1. Austria In the sectors renewable energy and energy efficiency, Raiffeisen-Leasing has long been active as financing partner and investor. By the end of 2010, the turnover had reached €673 million, of which the major part was related to the segment renewable energy both in Austria and abroad, with wind energy constituting the largest share. Raiffeisen-Leasing can also look back on 2010 as a productive year as far as infrastructure projects and operator models are concerned. In this specialised sector, which consists of models for building-land reserves, contracting, KommReal outsourcing models, life cycle models, and health and nursing, the turnover amounted to €305 million. A particularly positive development was also seen in KommReal models offered by Raiffeisen-Leasing. Eleven municipalities have meanwhile outsourced their Real Estate Management. 2.5.1.1. Energy Efficient Construction and Renovation - Infrastructure - KommReal Each project in this segment was jointly realised with technical partners. Raiffeisen-Leasing offers a complete package consisting of financing and technical services, including guarantees for operating costs and energy savings. This makes the sustainability of the investments transparent to the customer. The large number of projects in the area ‘Energy Efficient Construction and Renovation’ shows that this topic has high priority for municipalities. Not only the guaranteed energy savings but also agreed fixed constructions costs and the ability to securely plan the related budget helped Raiffeisen-Leasing to a total portfolio of 18 projects. The demand for new buildings and renovation with ecologically sound features will certainly increase in the future.

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28

Developing tailor-made solutions for the implementation of infrastructure projects and operator models is also one of the core competences of Raiffeisen-Leasing. These include contracting, contracts for heating supplies, renovation models for public lighting, models for building-land reserves and municipal outsourcing (KommReal). An example of this is the new municipal centre which was handed over to the municipality of Irnfritz-Messern in October 2010, after a construction time of only one year. In this project, Raiffeisen-Leasing acted as sole contractor and lessor. Together with its partner WRS energie & unternehmenslösungen GmbH, RaiffeisenLeasing managed to generate 88% added value with regional companies. The usable surface of 720 m2 is split into two floors, whereby, amongst others, a branch office of Raiffeisen Bank is also located on the ground floor. The building was constructed barrier-free and planned for optimum energy efficiency (secured by an energy savings guarantee). Compared with that of the previous municipal offices, the energy saving amounts to 60% and the heat is supplied by the local district heating system. 2.5.1.2. Ecology: Customer Projects Raiffeisen-Leasing - The Number One in Eco-Financing After numerous years in the eco-energy market, Raiffeisen-Leasing has acquired an impressive list of references in project financing. These include projects dependent on raw materials such as biogas plants, biomass power plants, bio-fuel and bio-oil installations as well as photovoltaic installations and wind parks.

Sector Bio-fuels Biogas Biomass Bio-oil Photovoltaic Wind energy Total

Finalised projects

Finalised amount in €

3 11 9 6 17 17 63

90,155,718 16,515,759 77,462,868 34,252,395 54,951,837 314,042,472 587,381,049

Energy efficiency remains a key topic. In industrialised countries, energy needs will go down, but demand in developing countries will rise rapidly. It is expected that by 2030 more than half of the worldwide energy demand will come from developing countries (currently approx. 40%). Fossil fuels will continue to dominate the world‘s energy system and by 2030, they will account for nearly 90% of the whole energy supply. According to a forecast made by EurActiv in 2010, an institute closely related to the EU, petroleum will remain the main source of energy (34%), followed by coal (28%) and natural gas (25%). In the EU, gas will be the second most important source of energy after petroleum, and nuclear energy and renewable sources of energy will account for less than 20% of the EU‘s energy requirement. The unstable situation in many North-African oil regions and the nuclear meltdown in Japan, have led to a revised assessment in 2011. The new EU energy policy aims at improving the security of supplies and at ambitious targets for the reduction of CO2. According to EurActiv, a number of measures will be required in order to reach the EU target of a 20% quota of energy from renewable sources by 2020. Investment in alternative sources of energy contributes to the security of supply, reduces local environmental pollution, and impacts positively on climate protection. Owing to the increasing


THE RAIFFEISEN-LEASING MANAGEMENT REPORT

cost of fossil raw materials, investment in, and the exploration of, renewable energy sources is becoming more economically feasible in an even shorter period of time. 2.5.1.3. Financing Projects of Raiffeisen-Leasing The annual combined production potential of all third-party and own projects installed and financed by Raiffeisen-Leasing amounts to 971,636,862  kWh electrical energy and 735,250,000 kWh thermal energy. In addition, production plants with a capacity of 226,310,306 litres bio-fuels were constructed. This amount of energy would be sufficient to supply 240,000 households with electricity and 44,000 households with heat. Energyefficient measures could further decrease the heat consumption per household by 20%, which corresponds to the supply of energy to an additional 55,000 households. This simple example clearly shows that it is not only a question of producing energy ecologically but also of dealing with it conscientiously to which our product ‘Energy Efficient Building and Renovating’ substantially contributes. Raiffeisen-Leasing‘s 63 alternative energy projects alone avoid 1,129,459 tons of CO2 emissions per year.

In Schruns, Vorarlberg‘s first rehabilitation clinic was completed in June 2010, after only 18 months construction time, and the first patients were already being received at the beginning of August. The clinic‘s services comprise the specialist areas of cardiological, orthopaedic and neurological rehabilitation, and 150 beds (88 single and 31 double rooms) are available to patients. All rooms are equipped with toilets/showers/baths, room safes, flat screens, telephones and comfortable furniture. The majority of the rooms have their own balcony and internet connection. The clinic offers the entire treatment chain, from acute care to after-care to in-patient rehabilitation. The cost of the services are charged directly to the Pension Insurance Agency and other social security organisations. VAMED developed the Rehabilitation Clinic Montafon on a purely private sector basis. Raiffeisen-Leasing and Raiffeisenlandesbank Vorarlberg were the two project partners and each holds 50% of the shares in the holding company. The responsibility for the construction was in the hands of VAMED who is also in charge of the entire management. The project‘s total investment volume was €25 million and this specialised health care installation creates approx. 90 jobs in the region. 2.5.2. Foreign

The First Rehabilitation Clinic in Vorarlberg 2.5.2.1. Raiffeisen Energy & Environment

© Reha-Klinik Montafon

Raiffeisen Energy & Environment (REE) was founded in 2007 and already has an impressive track record, even after such a short period of time. The attractive eco-energy legislation in the CEE and SEE regions clearly supports the ambitions of this still very young subsidiary of Raiffeisen-Leasing. The target markets of REE are The Rehabilitation Clinic Montafon – completed in only 18 months.

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Poland, the Czech Republic, Slovakia, Romania, Croatia and Bulgaria. In Bulgaria, several wind parks have already been established and connected to the local electricity grid, and in Sweden, a wind park project has successfully been sold on. Photovoltaics have been included in the product range of REE as a further technology mainstay that does not depend on raw materials. The first projects in this segment have been developed and completed in the Czech Republic and in Slovakia. Our Europe-wide activities and know-how in renewable energy are pooled into REE. This young subsidiary of Raiffeisen-Leasing already has an impressively successful track record, as can be seen from the following projects. REE acts as developer and operator and has been able to further expand its presence in the market at the technology level. Currently, the wind farm portfolio amounts to 130.5 MW and in the photovoltaic segment to 12 MWp. 2.5.2.2. Current Projects of Raiffeisen Energy & Environment

Photovoltaic Power Plant Cekanice - Czech Republic The attractive eco-electricity legislation, which was in force in the Czech Republic until the end of 2010, triggered a true photovoltaic boom. These particular circumstances have enticed REE to implement its first own project of this kind locally, together with a project partner. In the municipality of Cekanice, Tabor district, a modern photovoltaic power plant will be built on 42,153 m² of land. IBC Solar AG, an internationally recognized builder and wholesaler of solar installations, has been nominated as general contractor. The annual electricity output is expected to reach 1,561,000 kWh. Photovoltaic Power Plant Rosice- Czech Republic An additional photovoltaic power plant with a surface of 92,000 m2 was built near Brno in 2010. The German IBC Solar AG once again acted as the general contractor for the construction of the power station that will annually provide approx. 2,264,000 kWh for the local electricity grid.

Balchik Wind Park - Bulgaria The Balchik wind park in north-eastern Bulgaria, consisting of five wind power plants, was implemented in conjunction with an Austrian project partner and completed in the spring of 2010.

By the end of 2010, all permits were available for the Nikitsch Wind Park in southern Burgenland, which comprises nine wind power plants with a capacity of 19.8 MW. The project will be implemented in 2011/2012.

Š Raiffeisenzeitung

Nikitsch Wind Park - Austria

Inauguration of the photovoltaic power station: Peter Engert (Managing Director of Raiffeisen-Leasing) and Petr Klima (Mayor of Rosice) open the power station.


THE RAIFFEISEN-LEASING MANAGEMENT REPORT

Photovoltaic Power Plants - Slovakia Four additional photovoltaic power plants were connected to the electricity grid at the beginning of December 2010. The plants Buzitka and Hladky Majer are located in Central Slovakia, and have a surface of 162,000 m² with a capacity of 6 MWp. The photovoltaic power plant Ulany is located in the southern part of Slovakia and the plant Lisov lies to the west of it. Both plants have a surface of 50,000 m² and a capacity of 1,580 MWp. 2.5.3. C  ontracting and Energy-efficient Renovation Raiffeisen-Leasing also supports climate protection with contracting models and renovation projects. Existing facilities such as administration buildings, schools, kindergartens and municipal lighting systems are made ‘energy fit’. Besides the public sector, large businesses and industrial companies also approach Raiffeisen-Leasing with requests for offers to raise their facilities to the latest levels of energy efficiency. The major advantage, from a customer’s point of view, is that we offer an energy-savings guarantee. Raiffeisen-Leasing offers a contractually guaranteed savings potential and thus assumes the economic risk for the installations. With 64 Projects, the area Energy Efficiency has the largest share in this segment.

Sector

Finalised projects

Contracting/ Energy Efficiency

3

Finalised amount in € 61,228,151

2.5.3.1. Energy-Efficient Construction and Renovation The product ‘Energy Efficient Construction and Renovation’ was in particular demand last year. This shows that conscientious dealing with limited resources and sustainability gains increasing importance for the state, the provinces and the municipalities. Energy efficient construction and renovation not only benefits the environment, it also offers substantial advantages to municipalities. This product combines fixed prices for the construction, with tailor-made financing for the customers and thus not only facilitates planning but also avoids unpleasant surprises of hidden costs. Understandably, lower energy consumption not only impacts positively on the environment but also reduces operating costs. A typical example for energy efficient construction and renovation is the renovation and conversion of the secondary high school in St. Anton on Arlberg to a so-called ‘new secondary high school’ which was concluded in time for the school year 2010. The guaranteed energy savings of 352,952 kWh per year make it possible to sustainably reduce the heating costs of this school. The managing director of WRS energie- & umweltlösungen and technical partner of Raiffeisen-Leasing, Klaus Wurz, comments on this successful project as follows: “The impressive added-value has been confirmed by the savings achieved in construction and operating costs, the extensive inclusion of local companies and optimum project financing.”

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2.6.

Electric Mobility

In the last 150 years, the world has consumed 150 billion tons of oil which had been created over the last 350 million years by means of carbon sequestration. This corresponds to a column of oil covering an area the size of Vienna, with a height of 320 metres. The achievement of today‘s high standard of living would not have been possible without oil, but now, the resulting air pollution is increasingly becoming a problem. Many people say that it is almost too late to react because in Austria alone, air pollution generated by traffic has meanwhile reached alarming levels, as a study by Traffic Club Austria (VCÖ) has demonstrated. In the case of some pollutants, the share of cars in air pollution has already reached nearly 80%. The share of road traffic (excluding trucks!) is now 23% of total emissions (Source: Department of the Environment/Climate Protection 2009). Energy consumption in the transport sector continues to rise strongly and now contributes nearly a third to the increase of greenhouse gas emissions, which means that (private) transport is the problem child of national environmental policy.

Within the context of the Raiffeisen Climate Protection Initiative and klima:aktiv, RaiffeisenLeasing has been engaged at the forefront in implementing the financing of eco-energy for years. Therefore, it is only logical that we support our customers in converting their vehicle fleets to environmentally friendly vehicles. We do this by offering technical advice on the choice of vehicle types and fuel according to our customers’ requirement, with advice on subsidies or by preparing individual CO2 fleet balance sheets. By using various vehicles with alternative drives in Raiffeisen-Leasing’s own fleet, we can pass on the experience we have gained to our customers, for which there was a plethora of opportunities in 2010. Under the slogan ‘e-mobile in Lower Austria’, the Regional Secretary for Economic Affairs, Ms Petra Bohuslav, and the Regional Secretary for the Environment, Mr Stephan Pernkopf, presented Lower Austria‘s initiative for electric mobility at the end of January 2010. Also participating were: Mr Burkhard Huber, General Director of EVN, the energy utility of Lower Austria, and Mr Peter Engert. Various other events also offered ideal conditions for dialogue. The Eco-talks held every year in April attracted particular media interest. One of the speakers on the topic ‘Ecologisation of the Tax System in the Course of the Economic Crisis’, former Finance Minister Josef Pröll, was put at his disposal a suitable present in the form of a Segway.

In Mariazell, even the clergy is e-mobile!

A top event in 2010 was the ‘First International Electro Mobility Exhibition Grossglockner’, which Raiffeisen-Leasing hosted together with Grossglockner Hochalpenstrasse AG at the end of August. Many hundred interested spectators and experts, amongst them numerous bloggers, were convinced by the high standard of development of electrically powered vehicles.


THE RAIFFEISEN-LEASING MANAGEMENT REPORT

Not even Grossglockner can stop electric mobility.

Other people interested in the topic had the opportunity to follow the event in the internet on Twitter and on the Facebook page of Raiffeisen Climate Initiative. Towards the end of the year, the first co-operations were formed with vehicle manufacturers, service and repair workshops and power supply companies. In numerous projects, RaiffeisenLeasing is responsible for vehicle procurement, financing, fleet management. In addition, customers and partners used the RaiffeisenLeasing fleet to introduce e-mobility to their companies and to their customers. At the beginning of 2011, the delivery of the first electric vehicles started and attractive financing packages for private and corporate customers were put together. E-mobility had finally become usable and deployable.

In order to advance the development of electric mobility and based on the conviction that this innovative form of mobility is trend-setting, Raiffeisen-Leasing has become a member of various working groups such as AMP Austrian Mobile Power or the EmporA project and, in addition, co-operates with all large energy utilities in the country. Moreover, it is a partner of Austria’s most important model regions.

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2.7.

International Leasing

Locations of Raiffeisen-Leasing Companies

Vienna

Moscow

Almaty

Prague

Belgrade

Priština

Bratislava

Sarajevo

Budapest

Sofia

Bucharest

Stockholm

Chis¸ ina˘ u

Tirana

Frankfurt

Treviso

Helsinki

Warsaw

Kiev

Zagreb

Ljubljana

Zurich

Minsk


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THE RAIFFEISEN-LEASING MANAGEMENT REPORT

2.7.1. R  aiffeisen-Leasing in Central and Eastern Europe

With the exception of Kazakhstan, Raiffeisen Bank International AG is also present in all these countries with subsidiary banks. The intensive co-operation between the local banks and the leasing units ensures that the customers‘ individual requirements can be attended to appropriately.

Raiffeisen-Leasing International GmbH serves as the holding company for the leasing network in CEE. It is a subsidiary of Raiffeisen Bank International AG (75%) and Raiffeisen-Leasing GmbH (25%). The holding and its 18 operating companies have access to over 325 million potential customers in 17 countries.

By the end of 2010, nearly 1,400 employees were employed over the entire network. In 2010, the markets in Central and Eastern Europe showed a significant tendency towards recovery but with quite different characteristics in individual countries. Raiffeisen-Leasing International Group was able to benefit from the improved market environment and increased its balance sheet total to approx. €4,335 million.

Raiffeisen-Leasing International GmbH and its subsidiaries are represented in the following countries (in alphabetical order): Albania, Belarus, Bosnia & Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Kazakhstan, Kosovo, Moldavia, Poland, Romania, Russia, Serbia, Slovakia, Slovenia and the Ukraine.

Balance Sheet total of Raiffeisen-Leasing International Group as of 31/12/2010 (in million €)

4,335

113

231 Ukraine

75

Belarus

5

Kazakhstan

33

Russia

120

Kosovo

337

158

Albania

Bulgaria

330

Bosnia - Herzegovina

171

Serbia

165

Croatia

213

Romania/Moldavia

245 Hungary

322

Slovakia

Czech Republic

Poland

RLI total

521

Slovenia

1,296

The objective of Raiffeisen-Leasing International Group, to become market leader in Central and Eastern Europe, remains unchanged.


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2.7.2. R  aiffeisen-Leasing in Western and Northern Europe

The German subsidiary Austria Leasing GmbH, located in Frankfurt, started its operational activities at the end of 2004 and mainly concentrates on SMEs and international groups. Its main focus lies on real estate and equipment leasing.

© Oscar Properties

The success of the Swedish subsidiary RLNordic  AB, founded in 2006 and located in Stockholm, is based on equipment and real estate lease financing for corporate customers as well as on the three mainstays: offerings in the areas of infrastructure and leisure installations, the development of private residential construction projects and eco-energy. Stockholm also controls the subsidiary in Helsinki, which was founded in 2007 and mainly services municipalities and corporate customers.

By the end of 2012, 40 exclusive, centrally located apartments will be completed together with our Swedish partner Oscar Properties (Visualisation).

Next to its ‘home market‘ in Central and Eastern Europe, Raiffeisen-Leasing is also represented by its own branches in Western and Northern Europe. In Italy, Germany, Switzerland, Sweden and Finland, Raiffeisen-Leasing functions as the holding company of these subsidiaries. The Italian subsidiary A-Leasing SpA, which was founded in 2003 and is located in Treviso in Northern Italy, offers the whole range of products from vehicles to equipment to boats and real estate with the focus lying on SMEs. The Swiss subsidiary AIL SWISS-AUSTRIA LEASING AG, located in Zurich, was also founded in 2003. It services customers in Eastern Switzerland primarily in the real estate sector but also with equipment projects. Financing concepts in the field of ‘renewable energy’ are as yet very immature areas but they are a continuously increasing segment.

In 2010, additional residential construction projects such as ‘Sandhamnsgatan 39 Tegeludden’ or ‘Brunnsmästaren - Sabbatsberg’ were implemented. Most of the apartments of both projects were already sold during the construction phase. The great interest in apartments in Stockholm‘s most desirable inner city location can be seen from the fact that for 37 units available in the Sabbatsberg project, over 1,000 requests were made within a few days. 2.8.

Employees at Raiffeisen-Leasing

2.8.1. D  evelopment of Employee Numbers in Austria In 2010, the average number of employees was 359 which represents an increase of approx. 6% when compared with the ‘crisis year’ 2009. The proportion of female staff increased by 3% to 57% (43% are male). 15.7% of the employees are employed part-time. The ratio of academics rose from 36.3% to 36.5%. The average age of employees of 38.6 years remained almost unchanged in 2010.


THE RAIFFEISEN-LEASING MANAGEMENT REPORT

focuses on creating all types of knowledge, be it technical, product-related or knowledge of the company‘s culture. This is also a precondition for being able to retain competitiveness and for developing or accessing new markets. Since the majority of our services are performed by people - from consulting to developing tailormade solutions to extending co-operations - our employees contribute substantially to the company‘s success. Raiffeisen-Leasing: It is the team that counts.

Fluctuation due to contract terminations by employees increased to 11.6% compared with 8.6% in 2009. The total number of employees who left the company increased from 14.5% to 14.7%. The high fluctuation rate is mainly due to the fact that maternity leave increased substantially and is recorded as ‘employment termination by employees’. The number of days for sick leave per employee decreased when compared with the previous year. The average length of sick leave was 5.9 days. Also in 2010, annual interviews were held in which employees received input on their performance and career perspectives. In total, 269 employee interviews took place. The total of company social benefits per employee amounted to €1,271 and the sum total of voluntary social benefits reached €455,773 in 2010 (previous year: €432,384). 2.8.2. Strategy and Culture The company‘s main objective in personnel development is to retain or create optimum, high-performance employee potential. Therefore, Raiffeisen-Leasing‘s personnel policy strongly

By means of personnel development, not only knowledge and skills are transferred, but, in addition, the willingness of employees is called for, to react flexibly to new technical and social challenges. This includes the acceptance of lifelong learning. The training offer is becoming more extensive every year. In addition, Raiffeisen-Leasing expanded its co-operation with external companies offering project management certification. Training to become a Leasing Project Manager or Leasing Process Manger has recently been added, at the end of which, the participants receive an international certificate from Project Management Austria. The majority of the training is done in-house and only 13% is covered by external suppliers. Coaching - learning for specific purposes - is used particularly intensively and in 2010, 287 individual coaching sessions were held for 84 employees. In addition to the numerous training opportunities on offer, all employees are obliged to participate in money laundering prevention and anticorruption training.

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Internal training Total number of participants: Specialist seminars: Personality seminars: Languages: IT: Health: Leadership seminars:

974 643 90 86 75 52 28

Total training Total number of participants in training: 1,117 Participants in internal training: 974 Participants in external training: 143 2.8.3. Recruitment and Careers Raiffeisen-Leasing approaches its applicants and their requirements with respect and fairness, without discriminating against origin, gender, religion, education, career etc. Following the host country principle, RaiffeisenLeasing aims at recruiting and employing regional staff in its international subsidiaries. RaiffeisenLeasing attempts to identify integration and migration related challenges at an early stage and to adapt to them in the best possible way. Respecting and supporting international human rights is a matter of course for RaiffeisenLeasing. This is reflected in its attitude towards employees, customers, suppliers and all interest groups. Forced or child labour as well as discrimination are absolutely not tolerated. In 2010, Raiffeisen-Leasing published 53 external and 9 internal job advertisements. On average, 1.1 job interviews were held on every working day. Of the vacancies, 14 positions were filled internally and in total 15% through the ‘Employees Recruit Employees’ programme. As

regards external job advertisements, 64% were filled by men and 36% by women. The average age was 32.8 years. Raiffeisen-Leasing always endeavours to find a position with the best possible conditions for all employees. This applies to upcoming, career-conscious people as well as to fathers and mothers looking for part-time work. The company also supports older employees, employees with a migration background or people with disabilities. Raiffeisen-Leasing also offered 77 positions to trainees in 2010, which allow young persons to obtain their first glimpse of working life or to establish contact with potential, future employers. 2.8.4. Knowledge Management A proverb says that there are no such things as stupid questions, but only stupid answers. Those who ask, and question even that which is tried and tested, clear the way for further development. Following this insight, RaiffeisenLeasing decided to safeguard knowledge in the long term by means of a data base and, as a positive side effect, so to speak, thereby facilitate the operational work of its employees. That was in 1999. Since then, much has happened, albeit not always under the heading of ‘knowledge management’. No large projects were initiated. We worked with the tools available and developed them further from the point of view of knowledge management. Various process management tools were implemented and project management templates established, the company’s IT environment was re-designed and the personnel development tools were also enhanced with knowledge management in mind.


THE RAIFFEISEN-LEASING MANAGEMENT REPORT

However, no comprehensive knowledge database has yet been installed, as was considered in 1999. Instead, we created a company-Wiki (Wiki.RL) with the Mediawiki freeware forming the technical foundation for the documentation of knowledge. In order to improve company communication, the intranet ‘RL4U’ was re-designed and new communication ideas, such as the ‘Friday Morning Discussions‘ were implemented. These discussions take place on a monthly basis and offer an opportunity for meeting colleagues and exchanging ideas over a healthy breakfast. Employees or external experts present a specific topic during a 20 to 30 minute talk. The ‘Friday Morning Discussions’ are recorded on video and then published on the intranet. Raiffeisen-Leasing started implementing knowledge transfer in the company back in 2005, and it appeared that all the necessary basic conditions were already present. Therefore, the transfer and handling of knowledge occurred in an entirely natural and manifold way. Particularly in an open, appreciative and dynamic corporate culture, knowledge transfer sometimes occurs without much intervention.

2.8.4.1. Knowledge Balance Sheet With the help of the knowledge balance sheet that Raiffeisen-Leasing started implementing in 2009, the company seized the opportunity to become even better, because this tool initially illustrates the status quo. As is the case with many things in life, it helps to know one’s own current position precisely in order to be able to plan for the future. We need knowledge to master the diverse tasks that lie in front of us, and the greatest possible number of people within and outside our organization should be able to benefit from this knowledge. The knowledge balance sheet is a tool for strategic management, evaluation and strategy communication and it is based on existing terms and methods. The company positions itself in the changing corporate environment with specific competences that constitute a unique bundle of intellectual capital and aim at achieving an above-average performance. An important benefit of the knowledge balance sheet is that it presents connections in a structured way. Each core competence individually leads to concrete added-value for the customer and this added-value is directly linked with performance. The uniqueness of the services comes from the related intellectual capital and the sustainability of a company’s performance can be derived from it in return. Raiffeisen-Leasing formulated its knowledge objectives in 2010, they continue to be valid and are presented in the form of a Knowledge BSC. The objectives are divided into human capital (the knowledge of our competent and creative employees), structural capital (knowledge about products and processes) and customer/ relationship capital (knowledge about customers and their needs).

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40

Corporate Strategy

Comprehensive solution competence

Leadership in ecology topics

Universal leasing provider

Intellectual Capital

Human capital • Extensive expertise • Dynamic employees • Knowledge culture Relationship capital • Partnership with customers • Extensive customer potential • Strong network Structural capital • Innovation leadership • Innovative technologies • Efficient processes • Financing and asset mgt. • Country expertise

Services

Advice and support • Advising • Financing • Attending Developing and managing • Developing and managing projects • Managing construction projects • Managing companies

Added-Value

Customers receive exceptional service Sustainable success of projects Sustainable and ecologic innovation Competent implementation

Implementing • Calculating • Authorizing • Administering • Utilising

Learning

Economical outsourcing

Evaluating

2.8.4.2. Knowledge Statement The knowledge statement of Raiffeisen-Leasing forms the strategic framework for all activities of knowledge management. It says: Professional management of knowledge is the core competence of the 21st century. In its strategic orientation, Raiffeisen-Leasing commits itself to comprehensive knowledge management with a focus on three activities: 1.

Customers: Our knowledge of customers, financing instruments and technologies form the basis of our business success and, by implication, that of our customers.

2.

 rganisation: The individual knowledge O of each employee is made available to the whole organisation. The use of knowledge management tools facilitates the daily work of our employees and increases their efficiency.

3.

Culture: Professional knowledge management requires a culture of trust, transparency and openness. Besides people and capital, knowledge is the core resource factor of our business model.


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THE RAIFFEISEN-LEASING MANAGEMENT REPORT

2.8.5. Health Care The objective of an effective health care at work is to avoid any negative, work-related impact, to identify illness or damage to health at an early stage and to accompany the reintegration into working life after a longer period of illness-related absence from work. Prevention of work-related illness in situations where stress factors often lead to invalidity gains increasingly in importance. In order to prevent this kind of development, Raiffeisen-Leasing offers its employees various programmes and facilities, free of charge, which are aimed at contributing to the improvement of work quality. Employees have access to a company doctor with regular hours of consultation. Apart from advice and the procurement of all types of vaccines - from inoculations for journeys abroad to re-inoculation against poliomyelitis - which due to bulk ordering can be offered to employees at reduced rates, preventive check-ups are also available and were taken advantage of by more than 100 employees in 2010.

contribution to the cost of computer glasses) and examinations for skin cancer prevention, as was the programme ‘Healthy Intestines’ initiated by the Works Council. 2.8.6. Activities of the Works Council The election of the new Works Council took place at the end of April 2010. The eight members of Raiffeisen-Leasing‘s Works Council represent the employees in different areas, i.e. externally and interpersonally as well as in all legal and economic matters. The co-operation between Raiffeisen-Leasing‘s Works Council team and the Management Board is based on mutual trust. The well-being of employees lies at the centre of this co-operation without losing sight of the welfare of the employer, i.e. Raiffeisen-Leasing.

As in previous years, the Management agreed to offer vaccination against influenza and tickborne encephalitis free of charge. Since simple adherence to some very basic hygienic rules offers a high degree of protection from disease, Raiffeisen-Leasing has installed an apparatus in the entrance hall for disinfecting hands. The Works Council party in October 2010 was a full success.

Health, nutrition and exercise were some of the main topics of the training catalogue in 2010. Some examples of these are ‘Nutrition - Fit in the Head’, ‘Energy Fuelling Station’, ‘Movement Analysis’ or a ‘TCM Consultancy’. The health service was particularly in demand during the cold season, for eye tests (including a company

In September 2010, the traditional Works Council party was held which included a large raffle, and in December 2010, it organised the RaiffeisenLeasing Punch with the proceeds going to the Maltese Hospital Service.


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With this, the first milestone of a planned CSR concept was set. All raw materials, the music, the technical installations and the equipment were provided by either partner companies or customers. In order to maximise the amount of donations, the punch was prepared by Raiffeisen-Leasing‘s employees themselves. The Works Council also set up sports offers for employees, such as soccer or Pilates, and it negotiated advantageous employee rates for fitness centres, dry-cleaning services and pharmacies, as well as special purchasing conditions with food store chains, fashion brands, wholesale shopping centres, stationary suppliers, flower shops and many more. In addition, it arranged a blood donation event, prepared health initiatives and offered information on ergonomics at the work place and organised one of the year‘s highlights, the company outing. In 2011, a trip to Rome is being planned! 2.8.7. T  he Regular ‘Friday Morning Discussions‘ A series of ‘Friday Morning Discussions’ was held again in 2010. During these events, employees have an opportunity to maintain informal contacts within the company and, at the same time, to receive summarised information on specific topics. The highly appreciated series of events, initiated in 2007, were held for the 25th time in 2010. On average, 40 employees participate locally and around 80 watch the video recording on RL4U, the company‘s intranet. Amongst the topics discussed in 2010 during ‘Vitality Breakfasts’ were:

■ ■ ■ ■ ■ ■ ■ ■

Depression Knowledge management Taboo subject cancer Social media Electric mobility Work-life balance Consumer protection in the internet Energy saving: made easy?

2.9. Strategy and Outlook Also in Austria, the year 2011, the third year of the world-wide crisis, will continue to be marked by restraint in investments and uncertainties regarding the future. The financial sector is fervently discussing strategies for the future, the impact of Basel III, but also the effects of certain scandals that have driven various financial institutions to ruin. The traces of these events can already be seen in the development of future regulatory measures. The position in the economy which the sector has occupied so far is being questioned, and above all, there is a general conviction, namely, that the financing business in Austria must generate higher yields. Apart from various services, we, as a leasing institution, possess only one single product. Therefore, the task of Raiffeisen-Leasing must be to position this product on the market in a more efficient, focused and profitable way. In order to achieve this, Raiffeisen-Leasing started the restructuring project FIT_2015 in the middle of April 2011. This strategy project comprises all


THE RAIFFEISEN-LEASING MANAGEMENT REPORT

areas, and will newly position the company for the future. An important objective of our internal debates concerning this strategy project is not to lose sight of the market and our customers, on the contrary, we shall orient ourselves intensively to them. The current business year will most likely again be highly challenging, but we shall work with great motivation and commitment on our economic performance. In doing so, we shall also strengthen and optimise our engagement towards sustainability. Sustainable Objectives For a company to be able to consistently move forward, it is important that it sets certain targets in order to adapt to continuously changing conditions. Even though some of these goals might not be reached within a set time frame for different reasons that are often not always foreseeable, it is nevertheless important not to lose sight of them. Although we were not able to achieve all the goals we set ourselves in 2009, we nevertheless managed to successfully implement some of them. Raiffeisen-Leasing was able to continuously improve its market position in financing renewable energy projects and in electric mobility and it counts amongst the ‘Big Players’ in this segment. The ambitious objective for 2011 is to bring 600 electric vehicles onto Austria‘s roads! Furthermore, in 2010 the external appearance of Raiffeisen-Leasing will have informed more

people concerning its activities through its barrier-free design. Although a number of ideas are already in the planning stage, the homepage will only be relaunched in 2011. As in the previous year, employees have again been offered projects to improve their work-life balance. In 2010, we took a further step and are meanwhile offering individual coaching to managers through an external service provider and we are planning to expand this offer in 2011 by making individual coaching not only available to employees but also to their family members. A further step towards the scheduled increase of customer satisfaction on the basis of customer surveys was taken by the ISO certification renewal in fleet management to which the introduction of the new Online Car Configurator substantially contributed.

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RESPONSIBILITY FOR THE ENVIRONMENT

Green symbolises naturalness, confidence and health. A healthy environment is particularly important to us, which means that the careful treatment of energy is an essential aspect of our work.

EVERYTHING IS IN THE GREEN ZONE.


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3. RESPONSIBILITY FOR THE ENVIRONMENT Energy is one of the most critical topics of our times. This refers to sustainable energy production and also to the efficient use of energy. It goes without saying that against the backdrop of all its efforts in ecology, RaiffeisenLeasing strictly adheres to all the requirements of current environmental laws. Each one of us can contribute to climate protection and, when combined, even the smallest measures result in enormous savings. For example when one sums up the energy consumption of equipment running in stand-by mode in 3.6 million households in Austria. Sensible and economical treatment of energy is very important to Raiffeisen-Leasing as is the responsible treatment of water and other raw materials, and we encourage all employees to use these resources conscientiously in their daily work. But it is not only crucial how much energy is consumed but also where it originates. Therefore, Raiffeisen-Leasing, one of the largest national investors in the segment of alternative energy for many years, also relies on ecological drives, in addition to the development of renewable wind, photovoltaic and biomass energy. Our efforts to offer customers alternatives to fossil fuel, such as a â‚Ź300 bonus for the leasing contract of an eco-vehicle, have been received very positively. Raiffeisen-Leasing is one of the founding members of the Raiffeisen Climate Protection Initiative (RKI), a platform for actions in the areas of sustainability, climate protection, energy efficiency and renewable resources, which includes numerous other organisations from our business sector. For the Raiffeisen Climate Protection Challenge which was held for the first time this year, ten employees contributed twelve suggestions to the Raiffeisen-Leasing

competition. Of these, the five best candidates participated in the RKI National Final. In 2010, the region-wide Energy-savings Day took place for the 4th time. Raiffeisen-Leasing, together with a number of Raiffeisen Banks and companies from the business segment, started an energy-saving offensive with this year‘s focus being on issues surrounding electric mobility. 3.1.

EcoBusinessPlan

In 2007, Raiffeisen-Leasing finalised the module ECOPROFIT. This programme, designed by the City of Vienna, encourages the ecological fitness of companies. In this module, various possibilities are being developed on how energy can be saved, waste avoided and processes improved in a resource-saving manner. Since 2007, Raiffeisen-Leasing has regularly been amongst those companies who have been honoured with awards.

In March 2007, on the occasion of the EcoBusinessPlan Gala, the certificates were handed over to a number of companies including some from our business sector, such as Raiffeisen Ware Austria, Raiffeisen Bausparkasse and Raiffeisen Capital Management. In addition to measures initiated three years ago, amongst them the paper-saving Greenline printing system and the change from paper to


47

RESPONSIBILITY FOR THE ENVIRONMENT

Danube Port Mierka is Raiffeisen-Leasing’s logistics partner. In the picture, Hubert Mierka to the left, Peter Engert to the right.

cloth towels in the sanitary facilities, RaiffeisenLeasing‘s numerous activities in connection with environmental protection have been the reason for the renewed certification. Measures for the protection of the environment, such as waste separation at every work place or toner recycling also formed part of the evaluation as did the step-by-step conversion of the corporate fleet to eco-vehicles (ethanol, electric, natural gas) and the ‘clean’ transport of these vehicles by ship.

3.2.

Climate Protection within our own Sphere

3.2.1. C  ontinuous Monitoring Through Our Own Ecological Controlling In 2008, we introduced our own eco-controlling within the corporate controlling department, which we have been refining over the last few years. In 2010, various other items were added: ■ ■ ■ ■ ■

Waste separation at every work place Electric vehicles for business trips Toner recycling Double-sided printing Fabric instead of paper towels and energysaving lamps in the sanitary facilities

Ecological transport for ecological mobility: when deliveries of alternative means of transport occur, Raiffeisen-Leasing places great importance on environmentally-friendly transport routes. The e-bikes, Pedelecs and scooters are transported by sea/river to Austria and are stored at the Danube Port Mierka in Krems.


48

Raiffeisen-Leasing Eko-Controlling Hand soap Solvent-based adhesives Cleaning agents Cleaning material Rubbish bags Paper towels Stationery Envelopes Toilet paper Office material Copying paper Total paper Fluorescent lamps Batteries Toner waste Toner (returned to suppliers) Total recycling material Total electricity and heat consumption District heating Purchase electric vehicle fleet (Segways, e-bikes, e-scooters etc.) Total water consumption CO2 from electricity CO2 from district heating CO2 Total from electricity and district hating CO2 passenger vehicles (l diesel) CO2 passenger vehicles (l petrol) CO2 passenger vehicles (kg natural gas) CO2 passenger vehicles (l ethanol) CO2 aircraft (pkm) CO2 total from mobility Non-hazardous waste (residual waste) Non-hazardous waste (existing substances) Hazardous waste (incl. waste oil) Total waste Waste paper *)Paper towels were substituted by cloth towels in 2009

2008

2009

2010**)

in litres 278.00 in kg 0.30 in litres 166.00 in kg 23.08 in kg 321.00 in kg 1,009.44 in kg 20.00 in kg 1,020.00 in kg 876.78 in kg 5,289.00 in kg 16,490.00 in kg 24,705.22 in kg 34.36 in kg 43.35 in kg 70.13 in kg 124.85 in kg 272.69 In kWh/a 815,265.00 in kWh 613,861.00

153.00 0.00 207.00 20.00 173.00 *) 260.00 1,272.00 897.00 5,524.00 17,780.00 26,037.00 36.00 38.00 42.00 131.00 247.00 884,644.00 775,650.00

118.71 0.00 257.00 15.76 330.00 *) 0.00 863.78 1,275.00 5,574.00 17,465.00 25,179.68 23.03 44.00 15.00 73.78 155.81 952,938.00 803,989.11

in â‚Ź 0.00 19,841.30 82,381.91 in litres 2,159,000.00 2,351,180.00 2,407,723.00 in kg 228,274.20 247,700.00 266,822.64 in kg 92,079.15 86,348.00 120,598.37 in kg in kg in kg in kg in kg in kg in kg in kg

320,353.35 285,738.85 147,264.74 6,425.22 14,119.88 101,281.49 554,830.19 13,408.54

334,048.00 202,273.00 226,782.00 11,046.00 52,330.00 83,458.00 575,889.00 13,490.00

387,421.01 199,959.54 341,508.44 10,988.18 76,657.64 71,263.10 700,376.90 11,694.50

in kg in kg in kg in kg

22,862.35 166.98 36,437.87 21,270.22

19,449.00 116.00 33,055.00 15,240.19

16,331.35 545.84 28,571.69 8,789.49

**)These are only preliminary values.


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RESPONSIBILITY FOR THE ENVIRONMENT

3.3.

 aiffeisen-Leasing’s R Environmental Projects

3.3.1. Christmas Cards Simply by forgoing Christmas cards, RaiffeisenLeasing saved 145 kg paper in 2010. The majority of Christmas greetings were sent online and only 1,800 cards (2009: 7,700 cards) by mail. In addition, the cards were reduced from three to two pages. For the first time, the virtual cards were mailed by means of an internal database tool.

Raiffeisen-Leasing was one of the first companies in Austria to recognise the need for a rapid re-orientation concerning future mobility. For the first time in the autumn of 2010, a platform, www.rl-mobil.at, was created that would enable energy utilities, towns and municipalities to set-up their own offers of electric mobility products.

3.3.2. A  lternative Drives for Vehicles and Company Car Fleets Raiffeisen-Leasing plays a pioneering role in Austria with its promotion of electric mobility. The company enormously contributes to the acceptance of e-mobility by setting up a sustainable, efficient network with accompanying public relations activities and communication as well as with presentations on related topics at suitable events. The new mobility platform: www.rl-mobil.at

The use of ecological drives was the beginning, with the main focus being on reducing CO2 emissions. Back in 2008, we formulated the objective of bringing ‘true eco-vehicles’ onto the road, but at that time, the possibility of a rapid implementation still seemed far away. The Climate Summit in Copenhagen in September, which ended without any tangible results, nevertheless caused a turnaround, as it suddenly became clear that the target for Austrian emission reductions would be missed by far, and even more embarrassing, Austria had become the tail light for implementing the Kyoto objectives. One of the reasons for this situation was the ever-increasing use of private transport.

Simultaneously, Raiffeisen-Leasing looked for new access to innovative and tested electric mobility products and found them, in the initial phase, in electric scooters and Segways. Then came the e-bike and the Pedelec, an electric bicycle driven by an electric motor together with muscle power. Raiffeisen-Leasing‘s focus was, in this case, on practical use in daily life: which was the right product, who was the right service partner, what would the private and what the corporate customer require? The starting signal for the electric car finally came in August 2010 at the ‘First International Electro Mobility Exhibition Grossglockner’ on Kaiser-Franz-Josefs-Höhe.


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The pre-event, where the media representatives had an opportunity to participate in the e-mobility performance tests, had already proved to be a great success. The Grossglockner High Alpine Road was the yardstick for petrol-driven vehicles 75 years ago, and now again, electricitydriven vehicles could pit themselves against the demanding road. The vehicle convoy was accompanied by a film team documenting the drive. In this way, the first proof of suitability and robustness was provided, i.e. the electric cars were powerful enough to master this scenic alpine road with all its inclines and curves. Hence, e-vehicles are perfectly ready for daily use. In addition to the cars readily available on the market (Tesla Roadster, Think City, Fiat 500 EV and Tazzari Zero) some other models such as the Citroën C-Zero which were soon to be introduced in Austria, also participated. What was unique about this performance test was that also small lorries and commercial vehicles that can be used by municipalities, took part. The EcoCarrier and several Piaggio Porter, driving in convoy, managed the Grossglockner High Alpine Road without any problems.

Citroën Austria, Raiffeisen-Leasing and Vienna Energy also gave the general public an opportunity to see, to get to know and to experience electric mobility on Vienna‘s Ringstrasse. The first Citroën C-Zero, together with a charging station from Vienna Energy, was chauffeured by tram through Vienna‘s 1st district for a whole day. A very realistic scenario: the traditional public electric vehicle – the tram – accompanies an individual electric vehicle through town, because the mobility of the future will be an intelligent combination of the individual use of cars, two-wheelers, public transport and car parks with charging stations combined with photovoltaic units which generate electricity for one‘s own car. At the beginning of 2011, e-mobility was actually implemented in practice, when the first financing package for the Citroën C-Zero aimed at private and industrial customers was presented to the general public. The objective of this co-operation between Citroën and Raiffeisen-Leasing is to have 600 e-cars on Austria‘s roads by the end of the year. Driven by the surprisingly rapid development of electric mobility, an increasing number of large vehicle producers are hopping on this ever faster moving trend. During a ‘fireside chat’ initiated by Raiffeisen-Leasing, Audi‘s Board Member, Michael Dick, presented the latest electric vehicle from Ingolstadt which should be on the market and available to the general public in 2012.

The electric car C-Zero chauffeured by tram through Vienna.

Since 2006, Raiffeisen-Leasing has been gradually transforming its own company car fleet and by the end of 2011, all vehicles should be equipped with alternative drives. The company‘s fleet already comprises various electric vehicles, e-bikes, e-scooters and Segways.


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RESPONSIBILITY FOR THE ENVIRONMENT

3.3.3. R  aiffeisen Climate Protection Challenge 2010 The Raiffeisen Climate Protection Challenge started on October 20, 2010. This has been initiated for the first time by the Raiffeisen Climate Protection Initiative (RKI). “The objective of the Raiffeisen Climate Protection Challenge was to make employees increasingly aware of climate protection”, explained Franz Fischler, President of RKI, at the award giving ceremony.

In total, ten employees presented twelve suggestions. The jury (Mr Schuster/Herry Consulting, Mr Günter Strobl, Ms Andrea Weber, Mr Reinhard Würger/Raiffeisen-Leasing) assessed the suggestions based on a pre-defined evaluation matrix (innovation, effectiveness for climate protection, practice-orientation, chances of success/marketability and overall impression). The awards were handed over to the winners of the main prizes on November 18 and the five best-placed ideas were forwarded to the RKI national final.

A company-internal jury nominated ideas and projects which had been submitted for the national finals and forwarded them to the Raiffeisen Climate Protection Initiative. A jury of external experts from business and the media then nominated the projects and ideas for the nation-wide awards at the end of November 2010. The suggestions presented covered not only technical ideas and profession-related projects, the private sphere or the way to and from work, but also measures for resource-saving energy production and energy saving, mobility and building measures or activities which foster an appropriate awareness. The contest of ideas was held in two stages. Over a span of one month, more than 270 projects, concepts and ideas were presented in Austria to the participating RKI member companies. Raiffeisen-Leasing, itself a member of the Raiffeisen Climate Protection Initiative, also participated with its own internal competition. For four weeks, up to October 15, the employees took advantage of the opportunity to participate in this Austria-wide competition to contribute their ideas and innovations for active climate protection, and to win valuable prizes.

Shown in the picture from left to right: R. Würger, G. Strobl, G. Prettenthaler, P. Engert, I. Oberortner, W. Rauchenwald, A. Weber.

The top company-internal place was won by the project Raiffeisen Climate Protection Canteen. The transparent illustration of climate-relevant facts regarding canteen menus make employees aware of the CO2 footprint, especially as regards the long transport routes of exotic foodstuffs. The aim is an even stronger dedication to regional bio-products. Second place went to the idea of a special financing method supporting private households with the introduction of renewable energy sources. Third place: making employees of Raiffeisen-Leasing leasing aware of the quantities of CO2 emitted by daily short-distance driving by cars through organising a bicycle day.


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The National Final of the Raiffeisen Climate Protection Challenge was won by the promotional concept of ‘green mobility’. Second and third place went to the projects ‘Credit Cards from Renewable Raw Materials’ and ‘Tree Saving’. 3.3.4. Energy-saving Day 2010 – Focus Electric Energy In order not to be dependent on fossil fuels in the future, Austria would have to initiate further steps besides clearly improved energy efficiency. One of them is the intensified development of new technologies. The Energy-saving Day was arranged in order to create awareness and acceptance of this urgent necessity. Numerous focal campaigns were held in the different provinces to demonstrate how everybody can contribute to climate protection and save money and energy at the same time. Raiffeisen-Leasing, together with a number of Raiffeisen Banks and companies from the business segment, started an energysaving offensive with the focus being on issues surrounding electric mobility. The starting signal was given at the end of February with an employee information event at Raiffeisen Zentralbank. The office building at Vienna‘s city park already now operates, so to speak, in ‘energy saving mode’ by means of a photovoltaic and solar energy installation on its roof and the careful use of water supplied by well-considered technical solutions. During the event at Raiffeisen‘s ‘flagship’, a climate-friendly vision of the future was offered and the electric car was outlined as the starting point of a new industrial revolution. These visions of the near future were straight away brought to life in the main hall of RZB. Everybody who was interested had a chance to prove their ability to control

Segways, electric bicycles and other alternative drives on a pre-set course. The province of Lower Austria became a partner of the Energy-saving Day in 2010 for the 4th time and 112 Raiffeisen Banks in the province offered an extensive and varied programme. The Member of the Provincial Government for Energy and Environmental Affairs, Stephan Pernkopf, and the General Director of Raiffeisen Lower Austria, Erwin Hameseder, took the opportunity to ride a few rounds on a Segway during an inspection visit to Melk. A school class that happened to be present, also thoroughly enjoyed being able to test the suitability of e-bikes, e-scooters, bike boards and Segways. Towards the end of the Energy-saving Day at Raiffeisen Bank Guntramsorf, the visitors were able to try out vehicles with alternative drives. As the course was covered in snow at the time, many visitors refrained from testing the natural gas-powered Beatle, the electric moped or one of the two Raiffeisen-Leasing Segways, but the interest was nevertheless enormous. Raiffeisen-Leasing was represented with its own stand at the Energy-saving Day of UNIQA insurance where employees and visitors could view alternative means of transport and General Director Valentin Klien paid a brief visit to Raiffeisen-Leasing‘s stand. The Segways were once again the highlight at the Energy-saving Day of Raiffeisen Bank Feldkirch. In addition, visitors were offered energy-saving tips by the local Department of Public Works, ‘Vlotte’ presented the Raiffeisen Bank Fiat, and the Austrian Automobile, Motorcycle and Touring Club (ÖAMTC) made suggestions on petrolsaving driving.


RESPONSIBILITY FOR THE ENVIRONMENT

© BMLFUW/Newman.

Epilogue by Environment and Agriculture Minister Niki Berlakovich

3.4.

 enewable Energy and Energy R Efficiency are the Future

The nuclear catastrophe in Japan has brought about a turning point in history. It is now patently clear that nuclear and fossil energy cannot guarantee quality of life, good heath and security of supply for humankind. Clean, safe energy can only come from renewable sources. Therefore, my aim for Austria is to achieve energy independence by means of solar, wind, water and biomass energy. According to a recent study by respected scientists from various universities, this could become reality by 2050. However, it requires enormous effort and a consistent transformation of our energy system to the use of renewable energy and the efficient use of energy. I support this by means of: my climate protection initiative klima:aktiv, funding priorities of the Climate and Energy Fund, national environmental subsidies, the drive for thermal refurbishment and other focused promotional activities. In doing this, I particularly concentrate on multiple effects, as our country could enormously benefit from investments in climate protection and in new types of energy which would result in an economic boom, added value, growth and thousands of new green jobs. The broader the foundation of this development, the faster Austria will approach a future of safe, independent and clean energy. This is why we support municipalities and regions, with 773

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municipalities and 1.7 million people on their way to energy independence. 66 climate and energy regions have jointly started out on this path and have thus initiated an important trend. Practical proof that energy independence actually functions and that people and climate alike can profit enormously from such a development has the effect of a role model and sets in motion an important multiplication effect. One of the biggest problems regarding climate protection and energy consumption is traffic. In addition to the increased use of alternative fuels that protect the environment and environmentally friendly mobility management, electric mobility is a particularly important solution for the future. In order to drive this development forward, we support the further installation of charging stations as well as the modification of municipal and company fleets. Moreover, we encourage model regions of electric mobility. Currently, we are successfully testing the large-scale use of electric mobility in practice in Vorarlberg, Salzburg, Graz, Vienna and Eisenstadt, and the electricity is of course supplied by renewable energy. With its innovative offers and concepts, Raiffeisen-Leasing expedites the introduction of electric mobility into the market and it is thus a pioneer in the changeover to alternative drives. In 2010, I myself received the first electric/diesel vehicle for the Environment Ministry‘s fleet, a ‘Think City’, and with it, I want to motivate my colleagues and employees to change to an environmentally friendly attitude towards mobility. Each and every investment in climatefriendly and energy-efficient technology as well as in the development of renewable energy spurs the changes required by our energy system and guarantees a sound environment, quality of life and a sustainable, future-oriented energy supply for our children.


SOCIAL COMMITMENT

Pink is the colour of gentle feelings. A gentle treatment of society and sustainable actions of all forms are the basis for our future success.

TAKE A GLANCE AT A ROSY FUTURE WITH US.


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4. SOCIAL COMMITMENT 4.1. Raiffeisen-Leasing in a Dialogue Raiffeisen-Leasing has always assumed its social responsibility, in the good times as well as in the bad times. In 2010, many initiatives were undertaken, either in the form of financial contributions in the field of education or by social commitment and cultural sponsoring. Living sustainability in all its different facets is Raiffeisen-Leasing‘s guiding principle and the basis of its social responsibility, which also includes a development beneficial to our environment. All our business activities rest on this foundation. The co-operative movement based on the Raiffeisen System has its roots in the idea of Christian solidarity. The objective is communal self-help in line with the guiding principle: ‘One for all – all for one’. The co-operation is based on the cornerstones of solidarity, subsidiarity and regionalism. Raiffeisen is deeply rooted in the regions and this regionalism enables the development of personal relationships and creates a foundation for solidarity. (http://www. raiffeisenverband.at/ philosophie.php) 4.1.1. The Stakeholders of Raiffeisen-Leasing Raiffeisen-Leasing remains in touch. Owing to the intensive dialogue with its stakeholders – customers, business partners, policy makers and public authorities, suppliers, peers, the media, municipalities, employees and NGOs –, the information flow is lively and productive for all participants. Communication with our stakeholders serves as a method for cultivating relationships and for improving the understanding of Raiffeisen-Leasing‘s products

and services, and we do this by means of open communication and transparent information to all stakeholders. Furthermore, the opportunities and risks of social and ecological issues can be better assessed by this permanent exchange of ideas, for which various events create an optimum environment. For example, the ‘Ecology Talks’ are the venue for regular exchange on environmental topics, or the ‘Friday Morning Discussions’, where employees have an opportunity to discuss their ideas. The customer magazine ‘Leas.mich’ (Lease.me) informs customers, business contacts and those interested in current topics relating to RaiffeisenLeasing. Our company website (www.raiffeisenleasing.at) contains a comprehensive range of information for all stakeholders, and folders for specific target-groups cater to the information needs of these specific groups.


SOCIAL COMMITMENT

With the EcoEnergyBlog (www.oekoenergieblog. at), we use an innovative medium to enhance the understanding of ecological alternatives. At the end of 2010, the new platform www.rl-mobil.at was launched. Since then, everybody interested in e-mobility has had easy access to information on one of the electric vehicles now ready for mass production, or one can even book a test-drive.

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4.1.2. Lectures Representatives of Raiffeisen-Leasing are always welcomed as guest speakers at events, training courses and seminars around the topic ‘Renewable Energy and Energy Efficiency’. The information-oriented presentations underline the importance to society and the responsibilities related to this future-oriented topic. In 2010, lectures were given at the following events:

Finally, the Annual and Sustainability Report offers all stakeholders an overview of the activities of the last financial year.

09/06 – 11/06/2010 Energy Talks in Ossiach 20/09 – 21/09/2010 Renewable Energy Finance Forum (REFF), London

© ATC-Austrian Clean Technology

20/09 – 24/09/2010 Husum WindEnergy 28/09/2010 Event of Austrian Wind Energy Association in Lower Austria 01/11/2010 Lecture at Vienna University of Technology: Course of Studies in Renewable Energy in CEE

Mr Würger during a panel discussion on electric mobility.

04/11 – 05/11/2010 ENERCON Forum in Magdeburg / Germany 10/11 – 12/11/2010 RES Renewable Energy Sources in Sofia / Bulgaria 02/12/2010 Technology Workshop ‘Wind power – Quo Vadis?’ in Vienna 06/12 – 07/12/2010 ‘Best Practice Lecturing Seminar’ at the Vienna University of Technology


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4.1.3. EcoEnergy Blog The ‘EcoEnergy Blog’ was brought to life in 2008. This innovative medium attracts great interest and was visited by 51,971 very diverse users in 2010. Overall, the site has been called up 138,436 times and 266 contributions have been posted. Just for comparison, in 2009, 25,495 viewers read the 178 contributions put on-line by their authors. The blog receives contributions from internal and external writers who have one common interest, namely to identify and support the potential of ecological development.

The EcoEnergy Blog enjoys increasing popularity.

In order to stay in touch with the latest trends, the blog will be re-launched for the first time in 2011. For this purpose, Raiffeisen-Leasing held a bar camp on Vienna‘s Kahlenberg where it met with various bloggers for an exchange of opinions. There were quite a few very useful suggestions and any input that helps maintain a high level of information and user-friendliness is very welcome. The blog can be accessed under www.oekoenergie-blog.at.


SOCIAL COMMITMENT

© Raiffeisen-Leasing, Kurt Keinrath

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A prominent panel approached the topic ‘Sustainability‘ from various perspectives.

4.1.4. Eco-talks At the 5th ecology-talk on April 13, 2010, the economic and financial crisis and its manifold characteristics were reviewed in detail under the title ‚The crisis is over? Have we learned from it?’, the focus lying on sustainability. Moderated by Peter Engert, Managing Director of Raiffeisen-Leasing, the evening‘s prominent members of the panel, which consisted of Veit Sorger, President of the Federation of Austrian Industry, Heinz Schaller, Member of the Management Board of Vienna‘s stock exchange, Wiener Börse AG, Walter Rothensteiner, Director General of Raiffeisen Zentralbank Österreich AG and Chairman of the Austrian Federal Economic Chamber/Federal Bank and Insurance Sector, and Josef Pröll, former Vice-Chancellor and Finance Minister of the Republic of Austria, approached the topic ‘Sustainability’ from various perspectives and finally reached the conclusion: all of us will have to make our contributions. Pröll stated: “The finance sector has successfully overcome the crisis, and also in industry, the

worst is over. However, the domino effect still constitutes a great danger for the Euro and all EU-countries, as can be seen from the example of Greece.” According to Sorger, Austria had weathered the situation in many sectors better than other countries, but that there was also a tendency towards deferment. “Consolidation is essential. First we have to save, then we can think again about spending.” Schaller was quite optimistic as far as the fundamental data were concerned, “but it is now time to start dealing with the causes, and the blame should not only be placed on financial institutions.” Certain trends in the economy as a whole had to change. Rothensteiner also saw the problem as lying mainly with the investment banks being responsible for the worldwide economic crisis, “but we have started many initiatives to avoid the excesses of the past and, therefore, I am no longer so concerned about the banking sector.”


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Sorger also thought that an ecologisation of the fiscal system would be a promising way to go, provided the main cause, namely vehicle traffic, was also included. Rothensteiner called for reforms that would include everybody. “Renovate your house and obtain subsidies for it”, was his suggestion for an ecologically sound investment. “We must decide which track we want to follow”, i.e. everybody has a responsibility, was Engert’s reminder in his final statement. Ultimately, it depends on the approach of every single person whether sustainable behaviour will take hold in the economy and in society or not.

Austrian drivers are also slowly but surely discovering for themselves the ‘electric alternative’. Unfortunately, at the beginning of the e-vehicle era, buyers are confronted with a higher initial outlay, but thanks to subsidies, tax advantages and lower maintenance costs, these vehicles are already economically feasible. “From now on, nobody will be able to stop e-mobility and it will revolutionise the car trade”, says Peter Engert with conviction.

4.1.5. Fireside Chat

© Raiffeisen-Leasing, Michael Appelt

Nearly 100 guests attended the fireside chat ‘E(vidently)-clear? The market opportunities of electric mobility’ which took place in the Loos Haus on November 18, 2010, under the moderation of Esther Mitterstieler from the magazine ‘Wirtschaftsblatt’, Peter Engert of Raiffeisen-Leasing and Audi‘s Board Member for Technology, Michael Dick, who wants to make Audi ‚the leading premium supplier of e-vehicles’, were the panellists. In 2012, Audi will bring its first model with pure electric drive on the market: the high performance R8 sports car. In the following year, the company intends to capture the interest of a wider clientèle with the smaller A1 e-tron, which curious passers-by could admire on Michaelerplatz.

4.2.

Michael Dick proved, underscored by figures, that Audi is really serious about its electric strategy and does not want it to be seen merely as ‘environmental window-dressing’. Of a total of €2.5 billion which the vehicle manufacturer invests every year in research and development, €600 million go into the development of electric cars.

In 2010, Raiffeisen-Leasing sponsored various grants for the MSc course of study ‘Renewable Energy in Central and Eastern Europe’ for the fourth year. Even though the area of renewable energy ranks amongst the booming segments of

The moderator for the evening, Esther Mitterstieler from Wirtschaftsblatt between Michael Dick, Audi AG, and Peter Engert, Raiffeisen-Leasing

 ponsoring of the Course of Study S ‘Renewable Energy in Central and Eastern Europe’


SOCIAL COMMITMENT

International students are offered a modular system that is taught in Vienna and Bruck/ Leitha as well as in Slovakia, Hungary, the Czech Republic, Slovenia, Croatia, Poland and the Ukraine. In Europe, Iran, Ukraine, Malaysia, Uruguay, the USA and Canada, there are 120 students in all who are currently studying or have already completed this course. The Master‘s Degree course started in April 2010 for the sixth time. At the end of May, the course of studies was also presented at ‘Renewable Energy’, an international trade fair for renewable energy and energy efficient construction and renovation. Within the course of study, a fireside chat on the topic ‘Electric Mobility – Present Challenges and Future Opportunities’, was held in the Raiffeisen Forum in which the Managing Director of Raiffeisen Fleet Management participated. 4.3.

Social Commitment – Sponsoring Projects

People‘s life stories are as varied as the people themselves. Not everybody lives well, not even in ‘rich’ Austria. Even though Raiffeisen-Leasing has never neglected its social commitment, it is not in a position to respond positively to all requests for help. In 2010 again, the company supported several specially selected projects

in the areas of education, and also by social commitment and culture sponsoring.

© Verein Behindertenhilfe Bezirk Korneuburg

industry, there is hardly any related professional training available, although demand for a course offering practice-related knowledge and knowhow is steadily increasing. The bilingual course of studies, held in English and German, sees itself as in interdisciplinary, extra-occupational university course that deals with the futureoriented subject of the production of alternative energy.

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The residents of the home packaging the box trees for Raiffeisen-Leasing’s 40th anniversary.

Help people to help themselves: people with special needs are a new focal point for donations. In exchange for Raiffeisen-Leasing‘s donations, the Support Centre Rohrbach, one of the three locations of the support organisation for the disabled of Korneuburg district, was given a very special request. Hundreds of box trees, carefully grown and nurtured by the residents, were offered to the guests during the celebrations of RaiffeisenLeasing‘s 40th anniversary in 2010, a souvenir received by the guests with great pleasure. Two other, long-standing partnerships link Raiffeisen-Leasing with the SOS-Children‘s Villages and the CARE Initiative ‘Women Empowerment’ in Zanzibar. Raiffeisen-Leasing has supported the first SOS Children’s Village ‘Floritz’ in Vienna’s 21st district of Floritzdorf since it was first established. The design and furnishings of Café Floritz are completely in tune with the requirements of its older and its younger visitors. The shelter offers care places to children and youths needing help because of family problems, whereby the focus lies on re-integration into the families.


© Rainer Mirau

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‘Floritz’ makes carefree playing possible again.

You can find further information on www.soskinderdorf. at/Informationen/SOS-Kinderdorf-inOesterreich/SOS-Kinderdoerfer/Pages/SOSKinderdorf-Wien.aspx The charities ‘Licht ins Dunkel [Light in the Darkness]’ and the Mirno More Fleet for Peace also count on Raiffeisen-Leasing‘s support. Sports activities were the order of the day: at the 7th Lower Austrian Relief Organisation’s Charity Cup where donations to the amount of €25,000 were collected for children and families, and also at the 9th Austrian Peace Run around the Vienna town hall. Donations were also given, for the first time, to ‘Concert in the Dark’ from Austria‘s Help Organisation for the Blind and Visually Impaired. Raiffeisen-Leasing also supports culture in Austria by sponsoring projects such as the renovation of the Cistercian Abbey at Zwettl or the fund-raising dinner at the Albertina.

The CARE Initiative, ‘Women Empowerment’, in Zanzibar is a particular soft spot in the hearts of Raiffeisen-Leasing‘s employees. Even though there are some success stories, such as the Savings and Credit Associations, much remains to be done in order to sustainably strengthen the economic and social position of women. The financial support at least enables the participants to invest in activities which produce earnings and thus to support their families. You can find additional information on this project under: www.care.at/de/projekte/afrika/tansania/ tansania-care-staerkt-frauenrechte-in-sansibar. html

© CARE Österreich

Within ‘Floritz’, the so-called ‘FamilyRAThaus‘ or Family Advice and Meeting Centre, with its varied choice of advice and possibilities of meeting together, has a valuable role to play in preventive social work.

A safe future for women, thanks to the CARE initiative ‘Women Empowerment‘.


SOCIAL COMMITMENT

Activity Report of the Training Company Leasing 4U LLC - Gänserndorf Since 2006, Raiffeisen-Leasing has been supporting the first universal training company of the Commercial College Gänserndorf in Lower Austria. The highly professional work of the students with this training company never ceases to astonish us. In the following you find the company‘s activity report for 2010.

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Our top products are: ■ Ricoh multifunction printers ■ Tax-privileged Ford Transit delivery vans ■ Segways In the recent past, we have even leased a motor boat and a coffee vending machine. Turnover per quarter: approx. €500,000 Number of employees: 16 Number of customers: ca. 45 Managing Director: Susanne Geyer As in 2009, the quality of work of our training company has again been rewarded with the ÜFA Quality Certificate in 2011. This certificate is issued by the service centre of Austrian training companies, ACT, after a detailed audit (Target fulfilment 99.35%).

Training companies are included in the curriculum of commercial colleges and simulate the operations of a company. Most of the companies available in the market for training companies (approx. 1,000 in Austria) are commercial enterprises. Financial services providers are comparatively rare amongst training companies. Leasing 4U LLC is the only leasing company in Austria that deals exclusively with equipment and vehicle leasing. After its foundation in 2006, which was generously supported by Raiffeisen-Leasing‘s know-how, the company has become well established in the training company market. Our calculations are performed with the help of LEO, a Raiffeisen-Leasing owned tool.

We would like to take this opportunity to thank our school-partner for its generous support. The company‘s participation in discussion rounds in Gänserndorf is highly valuable to us, as it enables a practice-oriented education in vocational schools!

The web shop is the training company’s most important sales channel.


CONSOLIDATED FINANCIAL STATEMENTS

White stands for purity and clarity. We hope to offer you this clarity with our consolidated financial statements. You can see that our business fields have slowly started blossoming again in the most beautiful colours.

ANYTHING BUT COLOURLESS.


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5. CONSOLIDATED FINANCIAL STATEMENTS 5.1. Report on the Review 5.1.1. Introduction In accordance with our engagement, we have audited the consolidated financial statements of the Raiffeisen-Leasing Group as shown in the Annual Report comprising the annual financial statements of the Group companies RaiffeisenLeasing Gesellschaft m.b.H. and its subsidiaries; Raiffeisen-Leasing Österreich Gesellschaft m.b.H.; Raiffeisen-Leasing Mobilien und KFZ Gesellschaft m.b.H. and its subsidiaries; Raiffeisen-Leasing Anlagen und KFZ Vermietungs GmbH and its subsidiaries; RLKG Raiffeisen-Leasing GmbH and its subsidiaries; RALT Raiffeisen-Leasing Gesellschaft m.b.H.; as well as RaiffeisenLeasing International Gesellschaft m.b.H. and its subsidiaries for the period between January 1, 2010 and December 31, 2010. Our engagement concerning the subgroup financial statements of Raiffeisen-Leasing International Gesellschaft m.b.H. was limited to a review of the correct inclusion of the subgroup‘s financial statements and a review of the consolidation of capital, debt, expenses and revenue with other Group companies. The financial statements comprise the consolidated balance sheet as of December  31, 2010, the consolidated profit and loss account for the period between January 1 and December 31, 2010 and the general notes to the group of consolidated companies for this financial year. The legal representatives of RaiffeisenLeasing Gesellschaft m.b.H. are responsible

for preparing these financial statements. In addition, they are responsible for the financial statements representing the true position of the company’s assets, finances and earnings in accordance with the following principles of the consolidated financial statements as defined by the Management Board of Raiffeisen-Leasing Gesellschaft m.b.H.: 1. A  pplying the valuation rules by taking into account the principle of materiality of the International Financial Reporting Standards (IFRSs) published by the International Accounting Standards Board (IASB) including the currently applicable interpretations of the International Financial Reporting Interpretations Committee (IFRIC). 2. A  ssociated companies are included in the consolidated financial statements of the marginally associated companies according to the principle of at equity accounting based on the previous years’ financial statements of the individual companies. The annual results of 2010 of seven significant associated companies were recognised in profit and loss on a prorate basis in the consolidated financial statements. 3. T  he representation of shareholders’ equity and of the annual results in accordance with the participating interests within the Raiffeisen segment is dispensed with. No minority interests are shown. 4. N  o explanatory notes are prepared. The explanatory notes to the consolidated financial statements are limited to general remarks on the group of consolidated companies.


CONSOLIDATED FINANCIAL STATEMENTS

5. No cash flow statement is prepared. 6. T  he financial statements of the subgroup Raiffeisen-Leasing International Gesellschaft m.b.H. are the subject of an audit by KPMG, comprising the group of consolidated companies, the aggregated balance sheets, the capital consolidation and the consolidation of debt, expenses and income, and must be included in this form in the consolidated financial statements. 7. E  vents after the balance sheet date are shown only to the extent that they have been considered in the annual financial statements (HB II) as per December 31, 2010 of the companies Raiffeisen-Leasing Gesellschaft  m.b.H. and its subsidiaries; Raiffeisen-Leasing Österreich Gesellschaft m.b.H.; Raiffeisen-Leasing Mobilien und KFZ Gesellschaft m.b.H. and its subsidiaries; Raiffeisen-Leasing Anlagen und KFZ Vermietungs GmbH and its subsidiaries; RLKG Raiffeisen-Leasing Gesellschaft  m.b.H. and its subsidiaries; RALT Raiffeisen-Leasing Gesellschaft  m.b.H.; as well as RaiffeisenLeasing International Gesellschaft m.b.H. and its subsidiaries. 8. D  erivatives acquired for the sole purpose of hedging in accordance with the principles of risk management are not valued in the annual financial statements of RaiffeisenLeasing Gesellschaft m.b.H. and its subsidiaries; of Raiffeisen-Leasing Österreich Gesellschaft  m.b.H.; of Raiffeisen-Leasing Mobilien und KFZ Gesellschaft m.b.H. and its subsidiaries; of Raiffeisen-Leasing Anlagen und KFZ Vermietungs GmbH and its subsidiaries; and of RLKG RaiffeisenLeasing Gesellschaft m.b.H. and its

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subsidiaries; neither is the discounted cash flow method being used nor are contingent liabilities shown. The Management Board of Raiffeisen-Leasing Gesellschaft m.b.H. is responsible for preparing the consolidated financial statements. It is our responsibility to give a summary assessment of these statements based on our review. Our responsibility and liability for proved financial losses due to gross negligence and breach of duty is limited to EUR9 million, in accordance with article 62a of the Austrian Banking Act (BWG). Our liability for slight negligence is excluded, in accordance with General Conditions of Contract for the Public Accounting Professions (AAB) dated 08/03/2000, in the version dated 22/03/2010 (AAB 2010), which form the basis of this engagement. Our limitation of liability which has been agreed with the principal also applies to third parties who trust the content of our review and take certain actions or omit taking them.


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5.1.2. Scope of the review

5.1.3. Summary assessment

We have performed this review by applying the professional principles as applied in Austria, especially as regards the ‘Principles of the Audit of Annual Accounts‘ (KFS/PG 11 ‘Grundsätze für die prüferische Durchsicht von Abschlüssen’). The review has been performed in accordance with ISRE 2400.

Based on our review we are not aware of any facts that would lead us to the assumption that the attached consolidated financial statements as of December 31, 2010 of the RaiffeisenLeasing Group do not agree in all aspects with the principles mentioned chapter 14. (chapter 5.1.1.), nos. 1 to 8.

Our engagement concerning Raiffeisen- Leasing International Gesellschaft m.b.H. was limited to a review of the correct inclusion of the subgroup‘s financial statements and a review of the consolidation of capital, debt, expenses and revenue with other Group companies.

Vienna, May 2, 2011 Deloitte Audit Wirtschaftsprüfungs GmbH Bruno Moritz, Tax Consultant Thomas Becker, Auditor

The review of financial statements comprises interviews, primarily with persons responsible for finance and accounting as well as analytical assessments and other investigations. A review is considerably less comprehensive and offers less evidence than an audit and therefore does not allow us to obtain the same degree of assurance that we are aware of all material facts. Accordingly, we do not express an audit opinion.

Brigitte Stuiber, Auditor


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CONSOLIDATED FINANCIAL STATEMENTS

5.2.

General Explanations to the Group of Consolidated Companies

The consolidated financial statements have been prepared by applying the International Financial Reporting Standards (IFRSs) published by the International Accounting Standards Board (IASB) including the currently applicable interpretations of the International Financial Reporting Interpretations Committee (IFRIC). The preparation of a statement of changes in the shareholders’ equity and of a cash flow statement has been dispensed with. The explanatory notes to the consolidated financial statements are limited to general remarks on the group of consolidated companies. The individual financial statements of all consolidated companies, which have been prepared in accordance with uniform group standards and restated in accordance with IFRS rules, form the basis for the consolidated financial statements. The consolidated financial statements comprise all companies of the subgroup RaiffeisenLeasing GmbH; the subgroup Raiffeisen-Leasing International GmbH; the subgroup RaiffeisenLeasing Mobilien und KFZ GmbH; the subgroup Raiffeisen-Leasing Anlagen und KFZ Vermietungs GmbH; the subgroup RLKG Raiffeisen-Leasing GmbH, Raiffeisen-Leasing Österreich GmbH; and RALT Raiffeisen-Leasing GmbH. The purpose of the consolidated financial statements is to present a summary of all leasing

companies managed by Raiffeisen-Leasing GmbH or in which the international subsidiary of Raiffeisen Zentralbank AG directly or indirectly holds a majority interest. The fully consolidated companies of the subgroup Raiffeisen-Leasing GmbH comprise all subsidiaries in which Raiffeisen-Leasing GmbH has a controlling influence over the operating and financial policies. Companies that are managed by RaiffeisenLeasing GmbH or one of its subsidiaries together with one or more companies not included in the subgroup financial statements have been consolidated at equity. 182 companies have been fully consolidated in the subgroup Raiffeisen-Leasing GmbH and 118 companies at equity. In the subgroup RaiffeisenLeasing International GmbH, 44 companies have been fully consolidated. RaiffeisenLeasing Österreich GmbH; RALT RaiffeisenLeasing GmbH and the subgroup RaiffeisenLeasing Mobilien und KFZ GmbH (comprising 24 companies); the subgroup RaiffeisenLeasing Anlagen und KFZ Vermietungs GmbH (comprising 2 companies); and the subgroup RLKG Raiffeisen-Leasing GmbH (comprising 5 companies) have also been grouped in the consolidated financial statements. Minority interests in equity and in the annual results are not shown.


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5.3.

Consolidated Balance Sheet as of December 31, 2010

Assets 1. Cash reserves 2. Loans and advances to banks 3. Loans and advances to customers 4. Provisions for possible loan losses 5. Current financial assets 6. Financial investments 7. Tangible and intangible fixed assets 8. Other assets

2010 EUR ‘000 34.32 789,420.14 7,420,720.97 -282,671.59 256,242.65 378,936.40 471,460.63 301,561.90 9,335,705.42

2009 EUR ‘000 47.83 918,181.99 7,392,918.97 -267,224.29 256,242.65 357,577.83 403,850.15 371,076.87 9,432,672.00

Liabilities 1. Liabilities to banks 2. Liabilities to customers 3. Securitised liabilities 4. Provisions 5. Other liabilities 6. Supplementary capital 7. Equity

7,859,931.94 799,704.19 253,660.87 59,045.17 33,555.96 5,027.00 324,780.29 9,335,705.42

7,945,656.64 866,594.16 201,146.59 53,819.04 42,570.56 4,990.00 317,895.01 9,432,672.00


CONSOLIDATED FINANCIAL STATEMENTS

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5.4.

 onsolidated Profit & Loss Account for the Fiscal Year C between January 1 and December 31, 2010

1. Interest and interest-related income 2. Interest and interest-related expenses 3. Income from participating interests I. Financial result 4. Risk provisions 5. Other operating results 6. Personnel expenses 7. Other administrative expenses II. Annual net income/deficit before tax 8. Tax on income and earnings III. Consolidated annual net income/deficit

2010 EUR ‘000 402,813.39 -239,535.02 -19,903.11 143,375.26

2009 EUR ‘000 524,037.05 -328,614.29 -3,654.07 191,768.69

-80,784.08 -172,690.49 89,991.45 72,306.10 -65,502.03 -66,652.79 -84,618.13 -81,108.54 2,462.47 -56,377.03 -18,188.22 -15,725.75

-7,794.10 -64,171.13


ANNEX

Red, yellow and blue are primary colours. They cannot be mixed from other colours and form the basis for all colour combinations. You can find the basis of Raiffeisen-Leasing’s entire range of colours in the annex.

A GOOD MIXTURE.


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6. ANNEX 6.1.

 he Members of the Advisory Board T as of January 1, 2011

Karl Sevelda (Chairman) Raiffeisen Zentralbank Österreich AG Am Stadtpark 9, 1030 Vienna

Johann Jauk Raiffeisenlandesbank Steiermark AG Doktor-Auner-Strasse 12, 8074 Raaba

Helmut Breit Raiffeisen Zentralbank Österreich AG Am Stadtpark 9, 1030 Vienna

Johannes Ortner Raiffeisenlandesbank Vorarlberg Waren- und Revisionsverband reg.Gen.m.b.H. Rheinstrasse 11, 6901 Bregenz

Manfred Wilhelmer Raiffeisenlandesbank Kärnten – Rechenzentrum und Revisionsverband reg.Gen.m.b.H. Raiffeisenplatz 1, 9020 Klagenfurt Reinhard Karl Raiffeisenlandesbank NÖ-Wien AG F.-W.-Raiffeisen-Platz 1, 1020 Vienna Manfred Herbsthofer Raiffeisen-IMPULS-Leasing Gesellschaft m.b.H. Europaplatz 1a, 4020 Linz

Heinz Konrad Raiffeisenverband Salzburg reg.Gen.m.b.H. Schwarzstrasse 13-15, 5020 Salzburg Reinhard Mayr Raiffeisen-Landesbank Tirol AG Adamgasse 1-7, 6020 Innsbruck Friedrich Nikolaus Raiffeisenlandesbank Burgenland und Revisionsverband reg.Gen.m.b.H. Raiffeisenstrasse 1, 7001 Eisenstadt


75

ANNEX

6.2.

The Raiffeisen-Leasing Group as of January 1, 2011 Corporate Structure

Equipment/Vehicle Leasing

35% Die Niederösterreichische Leasing GmbH 40% D  ie Niederösterreichische Leasing GmbH & Co KG 25% G + R Leasing GmbH 50% G + R Leasing GmbH & Co KG 100% Mobix Raiffeisen Mobilien Leasing AG 100% MOBIX Vermögensverwaltungs ges.m.b.H. 49% ÖAMTC-Leasing GmbH 49% ÖAMTC-Leasing GmbH&CoKG 100% ÖKO-Drive Fuhrparkmanagement GmbH 100% RAN elf Raiffeisen-Anlagenvermietung GmbH

100% RAIFFEISEN Leasing Aircraft Finance GmbH 100% Raiffeisen-Leasing Fuhrparkmanagement GmbH 100% Raiffeisen-Leasing GmbH & Co KG 80% RL Dante Mobilien-Leasing GmbH 100% Raiffeisen Leasing-Projektfinanzierung GmbH 100% Unterinntaler Raiffeisen-Leasing GmbH & Co KG

Commercial Real Estate Leasing (1)

100% Aello Raiffeisen-Immobilien-Leasing GmbH 49% AGIOS Raiffeisen-Immobilien-Leasing GmbH 100% AGITO Immobilien Leasing GmbH 100% AKRISIOS Raiffeisen-Immobilien-Leasing GmbH 50% ALBA Raiffeisen-Immobilien-Leasing GmbH 100% ALTHAIA Raiffeisen-Immobilien-Leasing GmbH 50% „Am Hafen“ Sutterlüty GmbH & Co 50% APUS Raiffeisen-Immobilien-Leasing GmbH 100% ARCANA Raiffeisen-Immobilien-Leasing GmbH 50% ARTEMIA Raiffeisen-Immoblien-Leasing GmbH 100% AURIGA Raiffeisen-Immobilien-Leasing GmbH 50% AVION-Grundverwertungsgesellschaft m.b.H. 100% BRISEIS Raiffeisen-Immobilien-Leasing GmbH 100% BRL Raiffeisen-Immobilien-Leasing GmbH 50% CADO Raiffeisen-Immobilien-Leasing GmbH 100% CANOPA Raiffeisen-Immobilien-Leasing GmbH 100% CERES Raiffeisen-Immobilien-Leasing GmbH 100% COL Raiffeisen-Immobilien-Leasing gesellschaft m.b.H. 100% CURO Raiffeisen-Immobilien-Leasing GmbH 100% DANAE Raiffeisen-Immobilien-Leasing GmbH 100% DOROS Raiffeisen-Immobilien-Leasing GmbH 100% EPPA Raiffeisen-Immobilien-Leasing GmbH (Holding) 100% ETEOKLES Raiffeisen-Immobilien-Leasing GmbH 100% FEBRIS Raiffeisen-Immobilien-Leasing GmbH 100% GENO Leasing GmbH 100% HABITO Raiffeisen-Immobilien-Leasing GmbH

100% HERMIONE Raiffeisen-Immobilien-Leasing GmbH 50% HESTIA Raiffeisen-Immobilien-Leasing GmbH 25% Immoconsult „Citycenter“ Leasing- gesellschaft m.b.H. 25% IMMORENT-HUBI Grundstücks verwertungsgmbH 100% ISIS Raiffeisen-Immobilien-Leasing GmbH 50% JUNO Raiffeisen-Immobilien-Leasing GmbH 100% LARENTIA Raiffeisen-Immobilien-Leasing GmbH (Holding) 50% LEASING 439 GmbH 50% LG-Immobilien-Leasing GmbH 100% LIBRA Raiffeisen-Immobilien-Leasing GmbH 50% LM-Leasing GmbH 100% LT Raiffeisen-Immobilien-Leasing GmbH 100% LYRA Raiffeisen-Immobilien-Leasing GmbH 100% MANDRIA Raiffeisen-Immobilien-Leasing GmbH 80% MELIKERTES Raiffeisen-Immobilien-Leasing GmbH 50% MIRA Raiffeisen-Immobilien-Leasing GmbH 50% MIRUS Raiffeisen-Immobilien-Leasing GmbH 16% NATA Immobilien-Leasing GmbH 100% NISOS Raiffeisen-Immobilien-Leasing GmbH 100% Niederösterreichische Landes Landwirtschaftskammer 50% NÖ. HYPO Leasing und Raiffeisen-Immobilien- Leasing GmbH & Co OEG


76

Commercial Real Estate Leasing (2)

50% OCTANOS Raiffeisen-Immobilien-Leasing GmbH 50% ORION Raiffeisen-Immobilien-Leasing GmbH 100% Paladios Raiffeisen-Immobilien-Leasing GmbH 100% PARO Raiffeisen-Immobilien-Leasing GmbH 50% PEGA Raiffeisen-Immobilien-Leasing GmbH 100% PELIAS Raiffeisen-Immobilien-Leasing GmbH 100% PLANA Raiffeisen-Immobilien-Leasing GmbH 100% PROKNE Raiffeisen-Immobilien-Leasing GmbH 90% Propria Raiffeisen-Immobilien-Leasing GmbH 100% PYGRA Raiffeisen-Immobilien-Leasing GmbH 100% Raiffeisen-Immobilien-Leasing GmbH 100% Raiffeisen-IMPULS-Gebäudeleasing GmbH 25% Raiffeisen-IMPULS-Immobilienleasing GmbH 25% Raiffeisen-IMPULS-Liegenschaftsverwaltung GmbH 100% Raiffeisen Wohnbauleasing GmbH 50% Raiffeisen-Wohnbauleasing Österreich GmbH 100% Raiffeisen-Anlagenvermietung GmbH 100% RAN vierzehn Raiffeisen-Anlagenvermietung GmbH 100% RAN zehn Raiffeisen-Anlagenver mietung GmbH 50% REALPLAN BETA Liegenschaftsverwaltung GmbH 19% Rehazentrum Kitzbühel Immobilien-Leasing 50% REMUS Raiffeisen-Immobilien-Leasing GmbH 100% RIL II Raiffeisen-Immobilien-Leasing GmbH 100% RIL IV Raiffeisen-Immobilien-Leasing GmbH 50% RIL VI Raiffeisen-Immobilien-Leasing GmbH 50% RIL VII Raiffeisen-Immobilien-Leasing GmbH 100% RIL XIII Raiffeisen-Immobilien-Leasing GmbH 100% RIL XIV Raiffeisen-Immobilien-Leasing GmbH 100% RIL XVI Raiffeisen-Immobilien-Leasing GmbH 100% RILREU Raiffeisen-Immobilien-Leasing GmbH 100% RL Grundstücksverwaltung Klagenfurt Süd GmbH 100% RL-BETA Holding GmbH

100% RL Hotel Palace Wien Besitz GmbH 100% Raiffeisen-Leasing Liegenschaftsverwaltung Kraußstraße GmbH 100% RL Parkgaragen GmbH 100% RL Thermal Beteiligungen GmbH 100% RL Thermal GmbH 100% RL Thermal GmbH & Co Liegenschaftsver waltung KG 100% ROSEUS Raiffeisen-Immobilien-Leasing GmbH 100% RUBRA Raiffeisen-Immobilien-Leasing GmbH 100% SAMARA Raiffeisen-Immobilien-Leasing GmbH 100% Raiffeisen Rehazentrum Schruns Immobilien leasing GmbH 33% Seilbahnleasing GmbH 1% SELENE Raiffeisen-Immobilien-Leasing GmbH 100% SF Hotelerrichtungsgesellschaft m.b.H. 100% SINIS Raiffeisen-Immobilien-Leasing Gesellschaft 50% SOLIDA Raiffeisen-Immobilien-Leasing GmbH 50% SPICA Raiffeisen-Immobilien-Leasing GmbH 50% SUPRIA Raiffeisen-Immobilien-Leasing GmbH 100% TERTIA Immobilienanlagen GmbH 6% Therme Amadé Errichtungs- und BetriebgsgmbH 100% THETIS Raiffeisen-Immobilien-Leasing GmbH 100% THYMO Raiffeisen-Leasing GmbH 100% TRITON Raiffeisen-Immobilien-Leasing GmbH 67% UNIQA Immobilien-Projekterrichtungs GmbH 100% URSA Raiffeisen-Immobilien-Leasing GmbH 50% VANELLA Raiffeisen-Immobilien Leasing GmbH 100% VERUS Raiffeisen-Immobilien-Leasing GmbH 100% VIRIDIS Raiffeisen-Immobilien-Leasing GmbH 100% WEGA Raiffeisen-Immobilien-Leasing Gesellschaft 100% Wiedner Hauptstraße 94 Errichtungs- und Betriebs GmbH 50% „Zentrum Puntigam“ Errichtungs- und Betriebsgesellschaft mbH


77

ANNEX

Municipal Leasing

25% Adoria Grundstückvermietungs Gesellschaft m.b.H. 25% Aventin Grundstückverwaltungsge sellschaft m.b.H. 100% Burgenländische Kommunalgebäude leasing GmbH 25% CONATUS Grundstückvermietungs GmbH 25% CULINA Grundstücksvermietungs GmbH 50% Epsilon - Grundverwertungsge sellschaft m.b.H. 25% ESQUILIN Grundstücksverwaltungs GmbH 50% FACILITAS Grundstückvermietungs Gesellschaft mbH 25% FORIS Grundstücksvermietungs GmbH 45% IMMORENT-Raiffeisen Fachhochschule Errichtungs- und BetriebsgmbH 20% KommReal Hollabrunn GmbH 20% KommReal Michelhausen GmbH 5% KommReal Wolkersdorf GmbH 20% Kommunal-Infrastruktur & Immobilien Zeltweg GmbH 25% LITUS Grundstücksvermietungs GmbH 33% N.Ö. Gemeindegebäudeleasing GmbH 33% NÖ-KL Kommunalgebäudeleasing GmbH 33% N.Ö. Kommunalgebäudeleasing GmbH 26% NÖ Raiffeisen Kommunalprojekte Service Gesellschaft m.b.H. 27% NÖ Raiffeisen-Leasing Gemeinde projekte GmbH 25% O.Ö. Gemeindegebäudeleasing GmbH 17% O.Ö. Leasing für Gebietskörperschaften GmbH 17% O.Ö. Leasing für öffentliche Bauten GmbH 33% QUIRINAL Grundstücksverwaltungs GmbH 100% Raiffeisen Burgenland Leasing GmbH 100% Raiffeisen-Gemeindegebäudeleasing GmbH 40% Raiffeisen-IMPULS-Zeta Immobilien GmbH 100% Raiffeisen-Kommunalgebäudeleasing GmbH

33% Schul- und Amtsgebäude Grundstücks verwaltungs GmbH 100% SOLAR II Raiffeisen-Immobilien-Leasing gesellschaft m.b.H. 50% Steirische Gemeindegebäude Leasing GmbH 50% Steirische Kommunalgebäudeleasing Gesellschaft m.b.H. 50% Steirische Leasing für Gebietskörper schaften GmbH 50% Steirische Leasing für öffentliche Bauten GmbH 50% SWO Kommunalgebäudeleasing GmbH 33% Tiroler Kommunalgebäudeleasing Gesellschaft m.b.H. 8% Tiroler Landesprojekte Grundverwertungs GmbH 33% TKL II Grundverwertungsgesellschaft m.b.H. 33% TKL III Grundverwertungsgesellschaft m.b.H. 33% TKL IV Grundverwertungsgesellschaft m.b.H. 33% TKL V Grundverwertungsgesellschaft m.b.H. 33% TKL VI Grundverwertungsgesellschaft m.b.H. 33% TKL VII Grundverwertungsgesellschaft m.b.H. 33% TKL VIII Grundverwertungsgesellschaft m.b.H. 25% TRABITUS Grundstückvermietungs GmbH 25% UNDA Grundstückvermietungs Gesellschaft m.b.H. 25% VALET-Grundstücksverwaltungs Gesellschaft m.b.H. 25% VIMINAL Grundstücksverwaltungs GesmbH 33% VKL II Grundverwertungsgesellschaft m.b.H. 33% VKL III Gebäudeleasing-Gesellschaft m.b.H.1) 33% VKL IV Leasinggesellschaft mbH1) 33% VKL V Immobilien Leasinggesellschaft m.b.H.1) 33% Vorarlberger Kommunalgebäudeleasing Gesellschaft m.b.H.

interests held in trust 1)


78

Foreign

100% Abade Immobilienleasing GmbH 6% Abade Immobilienleasing GmbH & Co KG 100% Abakus Immobilienleasing GmbH 6% Abakus Immobilienleasing GmbH & Co KG 51% Abalone Immobilienleasing GmbH 100% Abolla Immobilienleasing GmbH 6% Abrawiza Immobilienleasing GmbH & Co KG 100% Abrawiza Immobilienleasing GmbH 100% Abri Immobilenleasing Gmbh 100% Abura Immobilienleasing GmbH 6% Abutilon Immobilienleasing GmbH & Co KG 100% Abutilon Immobilienleasing GmbH 100% ACB Ponova s.r.o. 1% Achat Immobilienleasing GmbH & Co KG 100% Achat Immobilienleasing GmbH 100% Achian Immobilienleasing GmbH 100% Ackja Immobilienleasing GmbH 6% Ackja Immobilienleasing GmbH & Co 100% Acridi Immobilienleasing GmbH 100% Acridin Immobilienleasing GmbH & Co 100% Adagium Immobilienleasing GmbH 100% Adamas Immobilienleasing GmbH & Co 100% Adamas Immobilienleasing GmbH 100% Aden Immobilienleasing GmbH 100 % Adessentio Immobilienleasing GmbH 6% Adiantium Immobilienleasing GmbH & Co 100% Adiantum Immobilienleasing GmbH 100% Adipes Immobilienleasing GmbH 100% Adipes Immobilienleasing GmbH & Co 100% Adorant Immobilienleasing GmbH 6% Adorant Immobilienleasing GmbH & Co 100% Ados Immobilienleasing GmbH 100% Adrett Immobilienleasing GmbH 100% Adrittura Immobilienleasing GmbH 100% Aducar Immobilienleasing GmbH 100% Adufe Immobilienleasing GmbH 100% Adular Immobilienleasing GmbH 100% Adular Immobilienleasing GmbH & Co 100% Agamemnon Immobilienleasing GmbH 6% Agamemnon Immobilienleasing GmbH & Co KG 50% AIL Swiss-Austria Leasing AG 100% Aison Raiffeisen-Immobilien-Leasing GmbH 49% A-Leasing SpA, I-Treviso 100% Antaios Raiffeisen-Immobilien-Leasing GmbH 49% A - REAL ESTATE SpA 100% Austria Leasing Beteiligungsgesellschaft mbH

100% Austria Leasing GmbH 100% Austria Leasing GmbH & Co. Immobilienver waltung Cura KG 100% Austria Leasing GmbH & Co. Immobilienver waltung Projekt Hannover KG 100% Austria Leasing GmbH & Co. KG Immobilien verwaltung Projekt Eberdingen 100% Austria Leasing GmbH & Co. KG Immobilien verwaltung Projekt EKZ Meitingen 100% Austria Leasing GmbH, Projekt Leipzig EM 100% Austria Leasing GmbH & Co KG Immobilien verwaltung Projekt Leipzig SB 88% Austria Leasing GmbH, Projekt Taunussteiner 100% Austria Leasing Immoverwaltungsge sellschaft m.b.H. 100% Baufachmarktvermietung Laufenburg GmbH 50% Bondy Centrum s.r.o. 70% Bukovina Residential SRL 100% Carnuntum Immobilienleasing GmbH 100% Cityland Park Sp.z.o.o. 100% CZ Invest GmbH 100% Fachmarktvermietung Gaggenau GmbH 100% FMK Kohlbruck 70% FMZ Primus Kft 100% FOC PISA SRL 100% Hotel Maria Prag Besitz s.r.o. 51% HSL Invest s.r.l. 100% Immoservice Polska Sp.z.o.o. 100% Inoprox Zagreb Sesvete d.o.o. 25% K & D Progetto S.r.l. 100% Kiinteistö Oy Automaatiotie 1 100% Kiinteistö Oy Rovaniemen tietotekniikkakeskus 100% Kiinteistö Oy Seinäjoen Jaoupinkatu 1 100% Körlog Logisztika Kft. 100% Korn GmbH 100% Laomedon Immobilienleasing GmbH 100% Le Palais Holding s.a.r.l. 100% Lentia Immobilienleasing GmbH 6% Lentia Immobilienleasing GmbH Projekt Albert-Oswald Haus 5% Lincoln Leasing B.V. & Co. KG 100% Lucius Property s.r.o. 30% Lumiten AB 100% Orestes Immoblienleasing GmbH 6% Orestes Immobilienleasing GmbH & Co. Projekt Wiesbaden KG 100% Ostarrichi Immobilienleasing GmbH


79

ANNEX

100% Ostarrichi Immobilienleasing GmbH Projekt Langenbach 10% Pompejus AB 100% Priamos Immobilienleasing GmbH 90% Prozna Investment Sp.z.o.o. 90% Prozna Properties Sp.z.o.o. 99% R Diana s.r.l. 99% R Hermes s.r.l. 99% R Lux s.r.l. 99% R Mormo s.r.l. 100% RL - Nordic AB 100% RL - Nordic Finans AB 100% RL Anlagenverm München 100% RL Aramis Hold 100% RL Assets Sp.z.o.o. 100% RL Attis Hold 100% RL Attis Sp.z.o.o. 100% RL Balkan Hold 100% RL Baukis Hold 100% RL Beta d.o.o. 100% RL Bulgaria Hold 100% RL Delta Hold 100% RL Epsilon Hold 100% RL Epsilon Sp.z.o.o. 100% RL Eta d.o.o. 100% RL Eta Hold 100% RL Fontus Hold 100% RL Fontus Sp.z.o.o. 100% RL Fuego 100% RL Gamma d.o.o. 100% RL Gamma Hold 100% RL Heart Hold 100% RL Heart Sp.z.o.o. 100% RL Jankomir d.o.o. 100% RL Jota Hold 100% RL Jota Sp.z.o.o. 100% RL Lamda s.r.o. 45% RL Leasing GmbH 100% RL LUX kft 100% RL Nedvishimosti EOOD 100% RL Nemovitosti s.r.o. 100% RL Opis Sp. Z.o.o.

100% RL Promitor Hold 100% RL Promitor Sp.z.o.o. 100% RL Retail Hold 50% RL Skand AB 100% RL Theta Hold 25% RLI Holding GmbH*) 100% RL-Nordic Oy 100% RL-Pro Auxo Sp.z.o.o. 50% RLRE Ypsilon Property s.r.o. 100% RLX Dvorak Holding S.A. 100% SCTE Elsö Ingatlanfejlesztö és Ingatlanhasznosító Kft. 20% Semperin AB 100% Styria Immobilienleasing GmbH 6% Styria Immobilienleasing GmbH - Projekt Ahlen 100% Tertium Immobilienleasing GmbH 24% the wind company Sugar Creek Two Inc. 24% the wind company Sugar Creek One Inc. 20% Van der Huff Holding AB 51% Villa Eden Gardone S.r.l. 100% Vindobona Immobilienleasing GmbH 6% Vindobona Immobilienleasing GmbH & Co KG Projekt Autohaus

*) RLI Holding Subsidiaries

LLC Raiffeisen Leasing Aval, Kiev (UA) OOO Raiffeisen-Leasing, Moscow (RU) Raiffeisen Leasing Bulgaria OOD, Sofia (BG) Raiffeisen Leasing d.o.o., Belgrade (RS) Raiffeisen Leasing d.o.o., Ljubljana (SI) Raiffeisen Leasing d.o.o., Sarajewo (BA) Raiffeisen Leasing d.o.o., Zagreb (HR) Raiffeisen Leasing IFN SA, Bucharest (RO) Raiffeisen Leasing Kazakhstan LLP, Almaty (KZ) Raiffeisen Leasing Sh.a., Tirana (AL) Raiffeisen-Leasing Polska S.A., Warschaw (PL) Raiffeisen Leasing Real Estate. s.r.o. Prague (CZ) Raiffeisen-Leasing s.r.o., Prague (CZ) Raiffeisen Lizing Zrt., Budapest (HU) SOOO Raiffeisen Leasing, Minsk (BY) Tatra Leasing s.r.o., Bratislava (SK)


80

Other Companies

51% ARGE ÖffBeleuchtung MG Maria Enzersdorf 100% CUPIDO Raiffeisen-Immobilien-Leasing GmbH 100% First Leasing Service Center GmbH 50% Gersthoferstraße 100 Bauprojektent 25% Golfanlagen Schönborn BetriebsgmbH 100% Hainburger Straße 15 ProjektentwicklunggmbH 100% Hietzinger-Spitz Projektentwicklung GmbH 49% IGNIS Raiffeisen-Immobilien-Leasing GmbH 100% KOTTO Raiffeisen-Immobilien-Leasing GmbH 100% LITAI Raiffeisen-Immobilien-Leasing GmbH (Holding) 100% LMV Holding GmbH 100% OPORA Raiffeisen-Immobilien-Leasing GmbH (Holding) 100% PHOLUS Raiffeisen-Immobilien-Leasing GmbH 100% Raiffeisen-Fachmarktzentrum DREI GmbH 100% Raiffeisen-Fachmarktzentrum EINS Immobilienholding 100% Raiffeisen-Fachmarktzentrum FÜNF Immobilienholding GmbH 100% Raiffeisen-Fachmarktzentrum SECHS GmbH wicklungs GmbH 100% Raiffeisen Windpark Berg GmbH 100% Raiffeisen Windpark GmbH 100% Raiffeisen Windpark Trautmannsdorf GmbH 100% Raiffeisen Windpark Velm GmbH 100% Raiffeisen-Leasing Bank AG

100% Raiffeisen-Leasing Beteiligung GmbH 100% Raiffeisen-Leasing Immobilienmanagement GmbH 100% Raiffeisen-Leasing Immobilienverwaltung GmbH 100% Raiffeisen-Leasing Wärmeversorgungs anlagenbetriebs GmbH 100% Raiffeisen-Leasing Wohnbauerrichtungs GmbH 40% Rail-Rent-Holding GmbH 100% Raiffeisen-Rent-Immobilienprojektentwicklung GmbH Objekt Lenaugasse 112 KEG 100% Raiffeisen-Rent-Immobilienprojektentwicklung GmbH Objekt Wallgasse 12 KEG 100% „Raiffeisen-Rent“ Vermögensberatung und Treuhand GmbH 100% Raiffeisen Salzburg Bankleasing GmbH 51% RDS Holding GmbH 100% RL Alpha Holding GmbH 100% RL-BETA Holding GmbH 99% RL-KOKYTO Holding GmbH 100% RL-OPIS Sp.z.o.o. 100% Scheimpfluggasse 3 Bauprojektentwicklungs GmbH 100% Windpark Nikitsch GmbH 20% Wiener Trabrennverein Projektentwicklung GmbH


81

ANNEX

Affiliated Companies

Raiffeisen-Leasing Mobilien und KFZ GmbH 70% FMZ-RO Holding GmbH 51% FMZ-SK Holding GmbH 50% Green Energie vetrny park Bilcice, s.r.o. 100% K&S Energy 1 EOOD 100% K&S Energy 2 EOOD 100% K&S ENERGYOOD 38% Nasza Sila Wiatru Sp. z o.o. 51% Objekt Linser Areal Immobilienerrichtungs GmbH 51% Objekt Linser Areal Immobilienerrichtungs GmbH & Co KG 51% Objekt Office Center Handelskai ImmobilienerrichtungsgmbH 51% Objekt Office Center Handelskai Immobilien errichtungsgmbH & CO KEG 100% OVIS Raiffeisen-Immobilien-Leasing GmbH 51% PV Cekanice s.r.o. 34% PV Lisov s.r.o. 80% PV Lucenec s.r.o. 90% PV Rosice s.r.o. 34% PV Velke Ulany s.r.o. 100% Raiffeisen Energy & Environment GmbH 100% Raiffeisen Energy & Environment Holding BULG GmbH 100% Raiffeisen Energy & Environment Holding CROA GmbH 100% Raiffeisen Energy & Environment Holding CZE GmbH 100% Raiffeisen Energy & Environment Holding POL GmbH 100% Raiffeisen Energy & Environment Holding SK GmbH 34% REE GREEN ENERGY SLOVAKIA s.r.o. 100% RL-Bürohaus Dresdnerstraße 107 GmbH & CO KG 100% RL Projekt Handelskai Holding 100% RL Projekt Linser Areal Holding 50% Superficies Objekt - Bauträger GmbH 24% The Wind Company GmbH 75% UNIQA Leasing GmbH

50% Warminska Sila Wiatru Sp.z.o.o. 100% WG-1 EOOD 100% WG-2 EOOD 100% WG-3 EOOD 100% WG-4 EOOD 100% WG-5 EOOD 100% WG-6 EOOD 100% WG-7 EOOD 48% Windfarm Balchik 1 OOD 48% Windfarm Balchik 2 OOD 48% Windfarm Balchik 4 OOD 100% Windpark Kavarna East EOOD 100% Windpark Kavarna West EOOD LKG Raiffeisen-Leasing Gesellschaft m.b.H. R 5% A-Leasing SpA, I-Treviso 100% Asset Paris II (Luxembourg) S.a.r.l. 100% ASSET PARIS II S.a.r.l. 5% A - REAL ESTATE SpA 98% Ceterum Helvetia AG 100% Erigone d.o.o. 100% ERIGONE Holding GmbH 42% Eurolease, s.r.o. 100% INPROX Zlin, s.r.o. 100% PHOLUS Raiffeisen-Immobilien Leasing GmbH 100% PROITOS Raiffeisen-Immobilien Leasing GmbH (Holding) 80% Raiffeisen-Leasing BOT s.r.o. Prag 5% RL Flussschifffahrts GmbH & Co KG 80% RL-Nemovitosti spol.s.r.o. Prag 100% RL UBX HOTELINVESTISSEMENTS FRANCE SARL 100% RLRE Omikron Property s.r.o. 100% UBX (Luxembourg) S.a.r.l. aiffeisen-Leasing Anlagen und KFZ R Vermietungs GmbH 100% ALETTA Raiffeisen-Immobilien Leasing GmbH 100% RL Schiffvermietungs GmbH


82

6.3. The Organisational Structure of Raiffeisen-Leasing as of December 31, 2010

83

ANNEX

MANAGING DIRECTORS

Mgt. Assistant / Foreign Investments Michael Gartner

Michael Ohner

Peter Engert

Karlheinz Sandler

Corporate & Private Customers

Key Accounts

Vehicles & Equipment

Real Estate

Infrastructure, Energy Efficiency & Operator Models

Project Development

Accounting & Group Controlling

Information & Organisation

Risk Management

Staff Units

Werner Fleischanderl

Robert Wurth

Reinhard Würger Depty. J. Kaiserreiner Depty. A. Hartner

Sabine Kaiser

Gottfried Heneis Depty. Susanne Tischler

Johannes Hubmaier

Wilhelm Karer

Günter Strobl

Andreas Scheiblecker

Construction Management East Harald Pallausch

Legal Georg Fuhrmann

Competence Center

Subsidiaries

Abroad

Sales Co-operations

Intern. Key Accts. & Project Financing Georg Honzig Depty. Robert Hörhann

E-Mobility Gernot Prettenthaler

Investment/Contract Management Real Estate Sabine Kaiser

International Susanne Tischler

Investor Models Erich Eberhardt

RL Bank & Standard Business Ulrike Schmied

Operations Management Günter Strobl

Risk Management A. Scheiblecker, Depty. Bernd Hinterleitner

Construction Management West Walter Soier

Taxes Christa Heinl Sandra Sedlaczek-Riederer

A-Leasing SpA / Treviso Antonio Mazzer Depty. Sandro Casellato

Distribution Service Center Claudia Heumann

Austrian Key Accounts Sylvia Holzmüller

Debtors & Receivables Management Helmut Sammer

PM Real Estate Paul Guthann Depty. Gerhild Bensch-König

Municip. Cooperation Gottfried Heneis

Project Development 1 AT, DE, CH Erwin Steiger

Group Companies & Reporting Ilse Groiss

IT Management Ingo Oberortner

Special Management Dorith Salvarani-Drill

Controlling Gottfried Waldhör

Treasury Ilse Graf Depty. Otmar Theiler

AIL SWISSAUSTRIA LEASING AG / Zurich Florian Venosta

Regional Branch Offices

Special Financing Erhard Waldinger

PM Vehicles / Equipment Alexander Hartner

Technical Partner Support n.a.

Project Development 2 SK, CZ, HU, PL, RO Johannes Hubmaier

RL GmbH Johann Mörth

Quality Management Petra Schmid

Basel II Stanka Lochmann

Human Resources Kurt Vogl

Austria Leasing GmbH / Frankfurt Georg Honzig Depty. Michael Paul

Group Companies Birgit Hass-Turian

Marketing & PR Andrea Weber

RL-Nordic

Burgenland Irene Hrdlicka-Hakel

PM KFZ/Mob Johann Kaiserreiner Depty. Erika Melzer

Project Development 3 SEE, UA, RU, I Martin Watschinger

Carinthia Franz Tschematschar Depty. Klaus Hofstätter

Vehicle Service / Equipment Standard Walter Kaufmann

Management Own Projects Klaus Jütte

Lower Austria / Vienna Thomas Kriz Depty. Franz Wieser

Service Special Projects Erich Wolf

Management and Center Management Karl Weingrill

Salzburg Reinhold List

Contract Management Vehicles / Equipment Natalija De Nicolais

Styria Karl Götschl Depty. Karl Eckhart

Fleet Management

Alfred Berger Depty. Gerhard Strasser

Back Office Gerhard Strasser

Product Management Alfred Berger

Tyrol Günter Eller Technical Operations Gerald Schmidtinger Vorarlberg Thomas Hämmerle

Contract Management Eleonore Schober

Project Controlling Own Projects Werner Ruzicka

Audit Andreas Sutlovic

RL-Nordic AB / Stockholm Ferdinand Pircher RL-Nordic OY / Helsinki Mikko Väisänen

Austria

Raiffeisen Energy & Environment Ronald Lausch Rudolf Plasil

Legend: Customers: corporate and private customers, key accounts Products: vehicle and equipment leasing, real estate, eco-energy & infrastructure, project development Support: accounting and group controlling, information and organisation, risk management PM: product management


84

6.4.

Important Addresses at a Glance

Raiffeisen-Leasing in Austria Vienna Head Office 1020 Vienna, Hollandstrasse 11-13 Tel.: +43 1 716 01-0 Fax: +43 1 716 01-98029 Email: leasing@rl.co.at www.raiffeisen-leasing.at www.oekoenergie-blog.at www.rl-mobil.at Lower Austria/Vienna Branch Office 1020 Vienna, Hollandstrasse 11-13 Tel.: +43 1 716 01-8131 Fax: +43 1 716 01-98139 Burgenland Branch Office 7000 Eisenstadt, Raiffeisenstrasse 1 Tel.: +43 2682 908 18-8501 Fax: +43 2682 908 18-8505 Styria Branch Office 8074 Raaba-Graz, Dr.-Auner-Strasse 8 Tel.: +43 316 40 02-4180 Fax: +43 316 40 02-4185 Salzburg Branch Office 5020 Salzburg, Elisabethstrasse 2 Tel.: +43 662 430 361-8600 Fax: +43 662 430 361-8610 Carinthia Branch Office 9020 Klagenfurt, Kardinalplatz 5 Tel.: +43 463 993 131-8563 Fax: +43 463 993 131-8570 Tyrol Branch Office 6020 Innsbruck, Adamgasse 7a Tel.: +43 512 53 05-12360 Fax: +43 512 53 05-12369

Vorarlberg Branch Office 6901 Bregenz, Rheinstrasse 11 Tel.: +43 5574 405-251 Fax: +43 5574 405-256

Raiffeisen-Leasing in Central and Eastern Europe Austria Raiffeisen-Leasing International GmbH A-1030 Vienna, Am Stadtpark 9 Tel.: +43 1 717 07-2966 Fax: +43 1 717 07-762966 Contact: Dieter Scheidl Email: dieter.scheidl@rli.co.at Contact: Michael Hackl Email: michael.hackl@rli.co.at www.rli.co.at Albania Raiffeisen Leasing Sh.a. Rruga Kavajes 44 AL-Tirana Tel.: +355 42 274 920 Fax: +355 42 232 524 Email: leasing@raiffeisen.al www.raiffeisen-leasing.at Bosnia and Herzegovina Raiffeisen Leasing d.o.o. Sarajevo Zmaja od Bosne 11 BA-71000 Sarajevo Tel.: +387 33 254 354 Fax: +387 33 212 273 Email: info@rlbh.ba www.rlbh.ba


ANNEX

Bulgaria Raiffeisen Leasing Bulgaria OOD Business Park Sofia Building 7B, 4th floor BG-1766 Sofia Tel.: +359 2 491 91 91 Fax: +359 2 974 20 57 Email: dobromir.dobrev@rbb-sofia.raiffeisen.at www.rlbg.bg Kazakhstan Raiffeisen Leasing Kazakhstan LLP 146, Shevchenko str., Flat 1, KZ-050008 Almaty Tel.: +7 727 378 54 30 Fax: +7 727 378 54 31 Email: rlk.info@rlk.kz www.rlkz.kz

85

Moldavia I.C.S. Raiffeisen-Leasing S.R.L. Alexandru cel Bun 51 MD-2012 Chis¸ ina˘ u Tel.: +373 22 27 93 13 Fax: +373 22 22 83 81 Email: office@raiffeisen-leasing.md www.raiffeisen-leasing.md Poland Raiffeisen-Leasing Polska S.A. ul. Prosta 51 PL-00 838 Warszawa Tel.: +48 22 326 36 00 Fax: +48 22 326 36 01 Email: leasing@raiffeisen.pl www.rl.com.pl

Kosovo Raiffeisen Leasing Kosovo LLC Str. Agim Ramadani no. 15 KOS-10000 Priština Tel.: +381 38 22 22 22 Fax: +381 38 20 30 11 Email: info-leasing@raiffeisen-kosovo.com

Romania Raiffeisen Leasing IFN S.A. Nusco Tower, Etaj 1A Soseaua Pipera nr. 42 RO-020112, Sector 2, Bucures¸ ti Tel.: +40 21 365 32 96 Fax: +40 372 87 99 88 Email: office@raiffeisen-leasing.ro www.raiffeisen-leasing.ro

Croatia Raiffeisen Leasing d.o.o. Radnicˇ ka cesta 43 HR-10 000 Zagreb Tel.: +385 1 6595-000 Fax: +385 1 6595-050 Email: leasing@rl-hr.hr www.rl-hr.hr

Russia OOO Raiffeisen-Leasing ul. Stanislavskogo 21/1 RU-109004 Moskva Tel.: +7 495 721 9980 Fax: +7 495 721 9572 Email: leasing@raiffeisen.ru www.raiffeisen-leasing.ru


86

Serbia Raiffeisen Leasing d.o.o. Milutina Milankoviá 134a RS-11000 Novi Beograd Tel.: +381 11 201 77 00 Fax: +381 11 313 00 81 Email: info.leasing@raiffeisen-leasing.rs www.raiffeisen-leasing.rs Slovakia Tatra Leasing s.r.o. Hodžovo námestie 3 SK-810 00 Bratislava Tel.: +421 2 5919-3168 Fax: +421 2 5919-3048 Email: info@tatraleasing.sk www.tatraleasing.sk Slovenia Raiffeisen Leasing d.o.o. Tivolska 30 (Center Tivoli) SI-1000 Ljubljana Tel.: +386 1 241 -62 50 Fax: +386 1 241 -62 68 Email: info-leasing@raiffeisen-leasing.si www.rl-sl.com Czech Republic Raiffeisen-Leasing s.r.o. Hveˇ zdova 1716/2b CZ-140 78 Praha 4 Tel.: +420 2 215 116-11 Fax: +420 2 215 116-66 Email: rl@rl.cz www.rl.cz

Ukraine LLC Raiffeisen Leasing Aval 9, Moskovskyi Ave., Build. 5, office 101 UA-04073 Kyiv Tel.: +38 044 590 24 90 Fax: +38 044 200 04 08 Email: sales@rla.com.ua www.rla.com.ua Hungary Raiffeisen Lízing Zrt. Hungária krt. 40-44 HU-1087 Budapest Tel.: +36 1 477-8707 Fax: +36 1 477-8702 Email: lizing-info@raiffeisen.hu www.raiffeisenlizing.hu Belarus SOOO Raiffeisen Leasing 31 A, V. Khoruzhey, 3rd floor BY-220002 Minsk Tel.: +375 17 289 9395 Fax: +375 17 289 9394 Email: maksim.lisicky@priorbank.by Real Estate Leasing Companies Czech Republic Raiffeisen Leasing Real Estate s.r.o. Hveˇ zdova 1716 CZ-140 78 Praha 4 Tel.: +420 2 221 511 610 Fax: +420 2 221 511 641 Email: realestate@rl.cz www.realestateleasing.cz


87

ANNEX

Raiffeisen-Leasing in Western and Northern Europe Germany Austria Leasing GmbH Mergenthalerallee 77 D-65760 Eschborn Taunus Tel.: +49 6196 96 732-0 Fax: +49 6196 96 732-20 Email: michael.paul@austrialeasing.de www.austria-leasing.de Finland RL-Nordic OY Kalevankatu 3 A 47 FIN-00100 Helsinki Tel.: +358 10 322 4441 Fax: +358 10 296 2253 Email: leasing_FI@rl-nordic.fi www.rl-nordic.fi Italy A-Leasing SpA Via Terraglio 68/A, I-31100 Treviso Tel.: +39 0422 409805 Fax: +39 0422 029869 Email: info@a-leasing.it www.a-leasing.it

Sweden RL-Nordic AB Drottninggatan 89, 14th floor P.O.Box 3294 S-103 65 Stockholm Tel.: +46 8 440 50 80 Fax: +46 8 440 50 89 Email: leasing_SE@rl-nordic.se www.rl-nordic.se Switzerland AIL SWISS -AUSTRIA LEASING AG Flughofstrasse 41 CH-8152 Glattbrugg ZH Tel.: +41 44 801 8800 Fax: +41 44 801 8809 Email: office@immo-leasing.ch www.immo-leasing.ch Others Raiffeisen Energy & Environment GmbH Hollandstrasse 11-13 A-1020 Vienna Tel.: +43 1 716 01-8054 Fax: +43 1 716 01-98054 Email: energy@ree.at www.ree.at


88

6.5.

GRI-Index

Raiffeisen-Leasing undertakes to consistently measure and evaluate its own performance in accordance with sustainable criteria. In order to prepare the data in a comparable and transparent way, the company orientates itself to the performance indicators of the Global Reporting Initiative (GRI). The data available predominantly concern the Austrian market. The following listing gives an overview of all GRI Indicators (G3). GRI separates the quality of the data collection into 3 grades of so-called ‘application levels’ A, B and C which show the degree of achievement of the illustrated indicators. More than 20 core indicators are shown and the report has been reviewed by the GRI itself. According to the GRI definition, Raiffeisen-Leasing’s Sustainability Report corresponds to level B. You can find a detailed overview of the GRI Index on Raiffeisen-Leasing‘s homepage under www.raiffeisen-leasing.at/gri-index.html. Legend: ✓ n.r.

Dealt with Not dealt with Not relevant

EC1 EC5 add

G3 Code Content according to GRI Strategy and Analysis 1.1 Statement of the Board of Directors Description of key impacts, risks and 1.2 opportunities in connection with sustainability Profile 2.1-2.10 Company profile 3.1-3.4 Reporting profile 3.5-3.11 Scope and delimitation of the report 3.12 GRI Content Index 3.13 Confirmation by external assessment Governance, Commitment and Involvement 4.1-4.10 Governance structures and management systems 4.11-4.13 Commitment towards external initiatives 4.14-4.17 Involvement of stakeholders

Core indicators Additional indicators

Status Page / remarks

5

46, 56

✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

6-7, 34, 46-47, 82-83 15, 97 15 88-94 no external assessment 5, 74, 82-83, Code of Conduct of the holding company RZB, www.raiffeisen-leasing.at/ leitbild.html 5, 14-15, 46-47, 56 56-62


89

ANNEX

G3 Code Content according to GRI

Status Page / remarks

5 Management Approaches Sector-specific information on the management MA PS ✓ approach: impact of products and services Policies with specific environmental and social FS 1 ✓ components applied to business lines Procedures for assessing and screening FS 2 ✓ and social risks in business lines Processes for monitoring clients’ implementation FS 3 of and compliance with environmental and social requirements included in agreements or transactions Process(es) for improving staff competency FS 4 to implement the environmental and social ✓ policies Interactions with clients/investees/business FS 5 partners regarding environmental and social ✓ risks and opportunities MA EC Management Approach: Economy ✓ MA EN Management Approach: Environment ✓ Management Approach: Labour Practices & ✓ MA LA Decent Work MA HR Management Approach: Human Rights ✓ MA SO Management Approach: Society ✓ MA PR Management Approach: Product Responsibility ✓ Impact of products and services Aspect: Product Portfolio Percentage of the portfolio for business lines by FS 6 specific region, size (e.g. micro/SME/large) and by sector Services designed to deliver a specific social FS 7 benefit Services designed to deliver a specific FS 8 environmental benefit

46 27-32 use of project-related analyses –

37-42

56-60 5, 42-43 46 37 38 54, being a subsidiary of RZB, RaiffeisenLeasing also orients itself on RZB‘s Code of Conduct. 17-18, www.raiffeisenleasing.at/leitbild.html

10-11, 17-20

18-24

21-32


90

G3 Code Content according to GRI

Status Page / remarks

Aspect: Audit Coverage and frequency of audits to assess FS 9 implementation of environmental and social ✓ policies and risk assessment procedures Aspect: Exercising Property Rights Percentage and number of companies held in the institution’s portfolio with which the reporting FS 10 organization has interacted on environmental and social issues Percentage of participations subject to FS 11 environmental and social screening Voting policy(ies) applied to environmental and FS 12 social issues Economic Indicators Economic Performance EC1 Directly generated and distributed economic value Financial implications and other risks and EC2 opportunities for the organization‘s activities due to climate change Coverage of the organization‘s defined benefit EC3 plan obligations Significant financial assistance received from EC4 government Market Presence Range of ratios of standard entry level wage EC5 add compared to local minimum wage Policy and proportion of spending on EC6 locally-based suppliers EC7 Procedures for local recruiting Indirect Economic Impact Infrastructure investments and services provided EC8 primarily for public benefit EC9 add Type and scope of indirect economic impacts

46-47

– –

70-71

17-20

37

✓ ✓

Ecology Indicators Materials EN1 Materials used by weight or volume ✓ EN2 Percentage of materials used that are recycled input ✓ Energy EN3, Direct and indirect energy consumption by ✓ EN4 primary energy source

– 18-20, 56 38 18-20 24-33

48 48 48


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ANNEX

G3 Code Content according to GRI

Energy saved due to conservation and efficiency ✓ improvements Initiatives to provide energy-efficient or renewable ✓ EN6 add energy-based products EN7 add Initiatives to reduce indirect energy consumption ✓ Water EN8 Total water withdrawal by source ✓ Water sources significantly affected by withdrawal EN9 add of water Percentage and total volume of water recycled EN10 add and reused Biodiversity Location and size of land owned, leased, managed n.r. EN11 in, or adjacent to areas of high biodiversity value Impacts on biodiversity in protected areas and n.r. EN12 areas of high biodiversity value EN13 add Habitats protected or restored n.r. EN14 add Strategies for managing impacts on biodiversity n.r. Species with habitats in areas affected by n.r. EN15 add operations, by level of extinction risk Emissions, Waste Water and Waste EN16, Direct and indirect as well as other relevant ✓ EN17 greenhouse gas emissions EN18 add Initiatives to reduce greenhouse gas emissions ✓ EN19 Emissions of ozone-depleting substances n.r. EN20 NOx, SOx and other important air emissions n.r. EN21 Total waste water discharge EN22 Total weight of waste ✓ Total number and volume of significant spills n.r. EN23 attributable to accidents and incidents Waste deemed hazardous under the terms of the n.r. EN24 add Basel Convention EN25 add Impacts of waste water on biodiversity n.r. Products and Services Initiatives to mitigate environmental impacts of ✓ EN26 products and services EN27 Re-used or recycled packaging material n.r. Compliance with Laws Monetary value of significant fines and total number EN28 of non-monetary sanctions for non-compliance ✓ with environmental laws and regulations

EN5 add

Status Page / remarks 48 27-33 46-49 48 – –

none available none available none available none available none available

48 27-32, 46-49 – – – 48 no no no 27-33 –

no fines


92

G3 Code Content according to GRI

Status Page / remarks

Transport Significant environmental impacts of transporting EN29 add products, materials and members of the workforce Total Environmental Protection Expenditures and Investments Environmental protection expenditures and EN30 add investments Social and Society Indicators Work Practice and Quality Employment LA1 Number of employees ✓ LA2 Staff turnover ✓ LA3 add Benefits provided to full-time employees ✓ Relationship between Employees and Management Employees covered by collective bargaining LA4 ✓ agreements Minimum notice period(s) regarding significant LA5 ✓ operational changes Health and Safety Percentage of total workforce represented in LA6 add formal joint management-worker health and safety committees Injury, occupational diseases, lost days, and ✓ LA7 absenteeism, and number of work-related fatalities Education, training, counselling, prevention, and LA8 risk-control programs in place regarding serious ✓ diseases Health and safety topics covered in formal LA9 add agreements with trade unions Education and Further Education LA10 Average hours of training ✓ Programs for skills management and lifelong learning LA11 add that support the continued employability of employees ✓ and assist them in managing career endings Employees receiving regular performance and ✓ LA12 add career development reviews Diversity and Opportunities Composition of governance bodies and breakdown LA13 of employees per category according to gender, ✓ age group, minority group membership LA14 Salary ratio between men and women

– –

6, 36-37 37 37, 41-42 regulated by Austrian law no minimum period defined

– 37 41 – 37-38 38-40 37 6, 36-37 –


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ANNEX

G3 Code Content according to GRI

Status Page / remarks

Human Rights Investment and Procurement Practices Review of human rights in significant investment HR1 agreements Screening of significant suppliers and subcontractors HR2 concerning their adherence to and maintenance of human rights HR3 add Training on human rights Non-discrimination Total number of incidents of discrimination and ✓ HR4 actions taken Freedom of Association to Trade Unions and Collective Bargaining Assurance of the right to exercise freedom of HR5 ✓ association and collective bargaining Child Labour Operations identified as having significant risk of ✓ HR6 incidents of child labour Forced and Compulsory Labour Operations identified as having significant risk of ✓ HR7 incidents of forced or compulsory labour Security Practices HR8 add Human rights training of security personnel Rights of Indigenous People Incidents of violations involving rights of n.r. HR9 add indigenous people and actions taken Society Relationship to the Community System for controlling the impacts of business ✓ SO1 practices on the community Security concerning the supply of financial services in FS 13 low-populated or economically disadvantaged areas Initiatives to improve access to financial services FS 14 for disadvantaged people Bribery and Corruption SO2 Business units analysed for risks related to corruption SO3 Training in anti-corruption policies and procedures ✓ SO4 Actions taken in response to incidents of corruption ✓ Contributions to Political Parties SO5 Political engagement and lobbying Total value of financial and in-kind contributions to SO6 add political parties, politicians, and related institutions

– – – no incidents regulated by Austrian law none

none – –

18-20 – – – 38 no incidents – –


94

G3 Code Content according to GRI

Status Page / remarks

Anti-competitive Behaviour Legal actions for anti-competitive behaviour, SO7 add ✓ anti-trust, and monopoly practices Compliance with Laws and Regulations Monetary value of fines and total number of SO8 non-monetary sanctions for non-compliance with laws and regulations Product Stewardship Policies for the fair design and sale of financial FS 15 products and services Impact on Health and Safety of Customers Assessment of the impacts of products on n.r. PR1 health and safety Incidents of non-compliance with regulations PR2 add n.r. concerning health and safety impacts of products Information on and Labelling of Products and Services PR3 Type of information on products and services ✓ Incidents of non-compliance with regulations and PR4 add voluntary codes concerning product and service ✓ information and labelling Practices related to customer satisfaction, including ✓ PR5 add results of surveys measuring customer satisfaction Initiatives to enhance financial literacy by type of ✓ FS 16 beneficiary Advertising Adherence to laws, standards, and voluntary PR6 ✓ codes related to marketing communications Incidents of non-compliance with regulations and PR7 add voluntary codes concerning marketing ✓ communications Breaches of Privacy Substantiated complaints regarding breaches of ✓ PR8 add customer privacy and losses of customer data Compliance with Laws and Regulations Fines for non-compliance with laws and regulations PR9 concerning the provision and use of products and ✓ services

no legal actions

– –

General Terms and Conditions under http://www.raiffeisenleasing.at/agbs.html. no incidents 22 37-40, 56 Raiffeisen-Leasing relies on transparent commu- nication with its business partners and adheres to all laws relating to market communication. no incidents

no complaints

no fines


ANNEX

6.6.

Application Level Check

95


1

2

3

1

 rinted according to Austrian eco-label´s guidelines UZ24 for ‘low-emission printed products’ P UW 734.

2

 his product comes from sustainably managed forests and controlled sources. T Programme for the Endorsement of Forest Certification Schemes

3

 he carbon dioxide generated by the production of this brochure has been compensated T for by climate protection measures.

We have prepared this annual report with the greatest possible care and reviewed all data. Nevertheless, we can not exclude possible transmission, typesetting and printing errors. For the sake of readability, all formulations are gender neutral and therefore addressed equally to men and women.


Imprint: Media owner, publisher and responsible for the content: Raiffeisen-Leasing GmbH, 1020 Vienna, Austria Editors and co-ordination: Andrea Weber, Ulrike Capelare, Elisabeth Diglas, Katharina Stogner Conceptual design and consulting: BrandCom Werbeagentur, 1070 Vienna, Austria, Thomas Aichelburg-Rumerskirch Art direction and graphics: Marlene Schaufler, 1070 Vienna, Austria Text and research: Act Kommunikation und Redaktion Vojtisek, 1160 Vienna, Austria Project support for the sustainability report: brainbows informationsmanagement gmbh Contact for the sustainability report: Andrea Weber Translation and proofreading: languagepoint, 8010 Graz, Austria, Valerie + Peter Kostan and Barbara Raunig Printed by: AV+Astoria Druckzentrum GmbH, 1030 Vienna, Austria


Egal wie man es dreht und wendet.

Whichever way you look at them.


Annual Sustainability Report 2010