Com

pani

es o

f Hig

h Te

chno

logy

Inve

stm

ents

Companies of High Technology Investments

2013R E P O R T

Rep

ort

201

3

PASSING ON EXPERIENCE MEANS ADDING NEW IDEAS.

4

Materials ropeway systemsRope-hauled passenger trans-

portation systems for mountain

and urban environments

Rope-hauled urban

transporta tion systems for

suburbs and communities

Rope-hauled passenger trans-

portation systems for mountain

and urban environments

5

Gearless wind turbines in the

megawatt category

Snow lances, fan guns

and complete snowmaking

systems

Snow groomers and tracked

utility vehicles for all slopes and

terrain types

6

2009 2010 20132011 2012

612 700 709795 721

2009 2010 20132011 2012

15,5 19,5 21,524,8 25,9

SALES 2013In 2013, consolidated sales stood at 709 million euros. A total of 80 ropeways, 28 wind turbines, 625 snow groomers & tracked utility vehicles and 1000 snow guns and lances were delivered and installed worldwide.

POWER OF INNOVATION AS A COMPETITIVE FACTORTechnological leadership is increasingly becoming the crucial fac-tor in purchasing decisions. With about 21.5 million Euros invest-ed in 2013, the Group has continued their policy of continuous investment in R&D. For example, the further developments to the tried and tested DirectDrive, the LeitDrive frequency convert-er and the LEITWOLF snow groomer with its optimized power specs, were introduced to the market in 2013.

Turnover million Euro

Research & Development million Euro

7

2009 2010 20132011 2012

28,1 10,524,3 19,2

2009 2010 20132011 2012

2.407 2.781 3.1953.269 3.320

20,0

EMPLOYEES AS LONG-TERM PARTNERS In 2013, the Group had 3,195 employees worldwide. A total of about 1.5 million Euros were invested in their initial and future training. Following certification in the “Family and Work” audit in 2012, measures were taken in 2013 to make it easier for employ-ees to combine work with raising children.

INVESTMENT IN GROWTH FIELDSThe Group is growing on a forward-looking and sustainable basis with the goal of continually increasing its market shares and further improving its competitive position. The main capital spending items in 2013 are extensions to the offices and stores, the installation of a high-grade quality assurance laboratory in Sterzing/Italy and acquisition of an ultramodern painting facility for SIGMA cabins.

Investments million Euro

Headcount

LEITNER ropeways connects highest technology & superior quality with

sustainability, design and the individual client´s needs and ideas.

10

11

2013 saw a continuation of the recent trend: The ropeway busi-ness is becoming more international, versatile and demanding. LEITNER ropeways built a total of 46 installations in 15 countries in 2013. Above all else, it was the company’s core competences that won the contracts for LEITNER ropeways. While negative eco-nomic developments created a mood of restraint on many of the traditional ropeway markets, the new markets, including Eastern Europe, delivered a strong stimulus with some exciting and often pioneering projects. In the field of urban transportation, LEITNER ropeways implemented innovative solutions with advanced drive systems combining economic advantages with reliability, environ-mental compatibility and a high standard of passenger comfort.

OUTSTANDING QUALITY AND INNOVATIVE DESIGN FOR MAXIMUM INVESTMENT PROTECTIONRopeway operators want to offer their customers enhanced com-fort and performance. At the same time, the installations must also satisfy stringent economic criteria. LEITNER ropeways meet these requirements with solutions incorporating the highest standards of engineering and advanced design while anticipating the applica-tions of the future in the process. Top quality and cutting-edge design are two of the key competences of LEITNER ropeways. These qualifications are evident in the company’s two new gondola lifts, “Danter” and “Cepies” at Passo Gardena, which boast im-pressive transport capacity, comfortable interiors, all-round glazing and convenient loading. They also offer superior quality and leisure potential not only for skiers and boarders in the winter, but also for mountain bikers and walkers in the summer. Another successful project in 2013 was the “BMW Individual for LEITNER”, a luxurious VIP gondola in the design language of the BMW 7 Series. Four of them are already in operation in Azerbaijan.For LEITNER ropeways, premium partnerships with leading brands like BMW and Kitzbühel are of strategic importance. The partner-ship with the Kitzbühel Hahnenkamm Race, initiated in 2012, was accordingly continued in 2013.

HIGH TECH SOLUTIONS WITH LOW ENVIRONMENTAL IMPACTSHigh demands are made of today’s ropeways in terms of the qual-ity of the ride, their environmental footprint and energy efficiency. How that can be achieved is shown by the success of LEITNER ropeways’ DirectDrive, which is exclusive to the HTI Group. Rope-ways equipped with this modern drive technology are quieter, con-sume less energy and – with fewer moving parts involved – are more reliable.In 2013, seven ropeways were delivered with the DirectDrive. The advantages of this drive system are still more impressive in combination with the new LeitDrive frequency converter. The new

“Wagstättbahn” gondola lift in Jochberg, which forms part of the Kitzbühel Ski Area, is equipped with the most powerful version of the DirectDrive and LeitDrive. It is the seventh installation in the ski area to incorporate this modern drive system. The new

“Hochwurzen” 10-passenger gondola lift in Schladming is powered via a DirectDrive as well. It also offers flexible operation with an in-novative detachable system that guarantees fast loading for skiers and snowboarders in the winter. While in summer, the gondolas in the stations can be brought to a complete 20-second stop twice for maximum loading and unloading convenience for pedestrians and passengers with strollers, etc.

CREATIVITY AND INDIVIDUALITY FOR A FASCINATING RIDE AND GREATER CUSTOMER RETENTIONA ride on a ropeway can be about much more than simply getting from point A to B. Today’s interest in the quality of the ropeway experience makes such features as heated leather seats, colored bubbles and comfortable seats with attractive stitched, engraved or printed designs are popular choices with today’s ski area op-erators. As a premium manufacturer, LEITNER ropeways likes to offer customized solutions. For example, in the Schlick 2000 Ski Area in the Tyrolean Stubai Valley, the blue bubbles on the new

“Zirmach” chairlift gives visitors an attractive mountain experience even in bad weather. The chairs also feature heated blue and yel-low leather seats. Jasna Ski Resort, the largest ski area in Slovakia, has a chairlift with the blue bubbles and heated seats, while the bubbles in the Polish ski resort of Szczyrk are yellow. The “Ross-waldbahn” 6-seater chairlift in Saalbach has blue bubbles, heated seats and automatic safety bars for children. The gondolas of the

“Wagstättbahn” in the Kitzbühel Ski Area have seat covers embroi-dered with the resort’s famous chamois logo.

2013 IN RETROSPECT

12

13

FRANCEThe tricable gondola lift “Prodains Express”, a joint development project handled in cooperation with POMA, now connects the two winter resorts of Avoriaz and Morzine and serves a double function there. The tricable ropeway not only carries skiers and snowboard-ers, it is also used by the local inhabitants as an urban transport solution for travel between the two resorts. LEITNER ropeways also built the new 6-seater chairlift Sommarel in the Superdévoluy Ski Area in the South of the French Alps.

CZECH REPUBLIC, SLOVAKIA, POLAND In Jasna, in the Demanovska Valley in the Lower Tatra, the new 6-seater chairlift “Lucky Priecno” went into service as the main access installation for the ski area. The ropeway has a DirectDrive, heated seats, CPS (cable position system) and fully automatic ga-raging system. In Szczyrk, one of Poland’s leading ski areas, a new 4-seater chairlift was opened in 2013.Another project of great strategic importance was handled in the Czech Plešivec Ski Area, where LEITNER ropeways installed three new 4-seater chairlifts. The Group’s contribution to the project also included a snowmaking system delivered by DEMACLENKO and a PRINOTH snow groomer. On Mount Snezka, the highest peak in the Czech Republic, two 4-passenger gondola lifts named “Snez-ka I+II” were built in 2013.

TURKEY, AZERBAIJAN2013 was again a year of strong growth on the Turkish market, with four new ropeways installed in the Kayseri Ski Resort alone: a 10-passenger gondola lift, a 6-seater chairlift and two 4-seater chairlifts. A spectacular gondola lift was completed in Bursa, the country’s fourth biggest city. Other installations were completed in Sivas, Bingöl and Denizli-Tavas.In December 2013, Qebele Mountain Resort in Azerbaijan unveiled four luxury cabins in the “BMW Individual for LEITNER” design. Since 2012, LEITNER ropeways has built two detachable gondola lifts and two Telemix installations in the ski area located between the Caucasus and the Caspian Sea.

IRAQ, ROMANIAIn Dohuk, in Northern Iraq, LEITNER ropeways implemented yet another exciting project in 2013: An 8-passenger gondola lift now connects a new luxury residential complex complete with a shop-ping mall and restaurants with a hilltop excursion destination. A completely new ski area is being developed in Slănic Moldova in Romania, and LEITNER ropeways delivered a 4-seater chairlift in 2013.

COLOMBIAFollowing the success of the first gondola lift in the Colombian city of Manizales, which has greatly improved the traffic situation there, the line was extended in 2013. The 10-passenger gondola lift now leads from the bus station to the suburb of Villa Maria.

ITALYThe biggest contract handled on the Italian market in 2013 was for the two 10-passenger gondola lifts “Danter” and “Cepies” in Val Gardena. A mudslide that occurred before the work was fin-ished called for a flexible response and great commitment in terms of planning and construction. The new installations are designed as a year-round amenity, transporting skiers and snowboarders in winter and providing access to the famous Sella Ronda for moun-tain bikers in summer. New 6-seater chairlifts were built at Ponte Vauz on the Pordoi in the Dolomites and in South Tyrol’s Ski Area

“Ratschings”, while more ropeways were erected in Lazio, the Aos-ta Valley and Basilicata. In total, LEITNER ropeways built eight new Italian ropeways in 2013.

AUSTRIAThe new GD10 “Wagstättbahn”, 10-passenger gondola lift at Joch-berg in Kitzbühel, is fitted with the DirectDrive and LeitDrive and is the most modern installation of its kind. The GD10 “Gipfelbahn Hochwurzen”, in Schladming, shows how good economics can be combined with passenger convenience. In the terminals, the gon-dolas can be stopped twice for 20 seconds for relaxed loading and unloading. In the Stubai Valley near Innsbruck, the DirectDrive was chosen for the 6-seater chairlift “Zirmach” in the Schlick Ski Area. The new 6-seater chairlift “Rosswaldbahn” delivered to Saalbach/Hinterglemm also has this modern drive, plus heated seats and bubbles. In the Salzburg region, the “Rosnerköpfl” 8-passenger gondola lift now links the center of Werfenweng with the ski slopes, bringing a significant reduction in the number of cars on the road in this picturesque Alpine valley.

GERMANYThe new 4-seater chairlift “Krautkaser” is a big improvement for the training center run by the German Ski Association (DSV) on the Krautkaser near Königssee. Germany’s biggest ski area, name-ly Wurmberg in Lower Saxony, is now offering a faster and more comfortable ride for skiers and boarders thanks to LEITNER rope-ways.

SCANDINAVIAIn Åre, Sweden’s most famous ski resort, the international ski area operator Ski Star invested in three new installations from LEITNER ropeways. The 6-seater chairlifts “Sadelexpressen” and “Fjällgårds-expressen” and the 4-seater chairlift “Tegeliften” are now part of the upgraded offering in this ex-World Ski Championships venue in Central Sweden. New installations were also delivered to the Swedish resorts of Sälen, Lofsdalen and to Misvaer in Norway. LEITNER ropeways also delivered the 6-seater chairlift “Storhau-gen” to the Norwegian Myrkdalen Ski Area in 2013.

14

15

ROPEWAYS FOR PERFORMANCE AND VERSATILITYThe ropeway scene continues to develop in the direction of further internationalization and diversification. Ropeways are now linking urban centers and suburbs. They are also solving traffic problems in South America, forming the backbone of new ski areas in East-ern Europe and Asia Minor, and assuming new and unusual roles in the European core markets. With exciting design ideas, they have become a marketing tool in their own right and innovative engineering has allowed a versatile mode of transport for skiers and snowboarders, walkers, mountain bikers and families with strollers. At the same time, they are now an attractive investment as cost-effective and environment-friendly solutions.

WINTER SPORTSWinter sports resorts can expect to see growing demand for pas-senger convenience and comfort in the ropeway ride experience. Many operators have recognized the opportunities presented by new attractions to improve access to the mountain and the whole service offering, thus achieve higher levels of customer loyalty. With a proven track record of competence in terms of engineering, design and quality, LEITNER ropeways offer customers convinc-ing and successful long-term solutions, combining comfort and convenience for users with the individual touch for their locations. Chairlifts with heated seats and bubbles in a distinct design lan-guage are just as much a part of this offering as individual branding for gondola seats. In Obertauern, the blue bubbles on the new 6-seater chairlift guarantee fine views whatever the weather. More and more ski area operators are recognizing the advantages of the LEITNER DirectDrive. This energy-efficient and environment-friend-ly drive technology will be used to power the tricable gondola lift

“Eisgratbahn” on the Stubai Glacier. The Kitzbühel ski area man-agement is also convinced of the advantages of the DirectDrive. LEITNER ropeways are building three new 10-passenger gondola lifts in Switzerland, two in Lenk and one in Laax. Future visitors to Le Dévoluy in France will be able to use the new reversible ropeway there to ride up to the observatory on Pic de Bure. Two new instal-lations are being built in Turkey’s Bozdağ Ski Area, and a number of other projects are in the pipeline in Northern and Eastern Europe.

ALTERNATIVE TOURISM APPLICATIONSRopeways are becoming increasingly important as an alternative to the motor car. Visitors to several cities and resorts in Turkey, for example, can now use ropeways to enjoy a comfortable ride that beats the traffic jams and offers superb views as well. In Alanya, on the Turkish Riviera, an 8-passenger gondola lift will carry passen-gers from the popular Cleopatra Beach to Castle Hill with its 2,000 year old castle. The castle has been converted into an open-air museum and is soon to become a UNESCO World Heritage site. The combination of a comfortable ride and spectacular views will also be available soon to passengers on an 8-passenger gondola lift in the Turkish city of Denizli.

URBAN PASSENGER TRANSPORTThe biggest urban ropeway project on the Eurasian continent is further proof that ropeways can be effective problem-solvers. In the Turkish capital Ankara, a new detachable 10-passenger gon-dola lift will go into service in 2014, linking the Şentepe district with Yenimahalle metro station. The gondola lift will have a 3,228 me-ter long line and four stations with a modern eye-catching design. The impressive ride experience will be reinforced with the help of special LED systems for spectacular light effects. With its state-of-the-art drive system, the new gondola lift will be in operation 365 days a year. LEITNER ropeways has built a number of modern ropeways in major urban centers worldwide including Barcelona and Hong Kong. For the 2017 International Garden Exhibition in Berlin (IGA), LEIT-NER ropeways has won the contract to install a ropeway to trans-port visitors to and from the grounds. The system will transport up to 3,000 visitors per hour per direction and provide an impressive bird’s eye view of the exhibition grounds with their themed gardens, water features and the various national gardens of the world. The ropeway will connect with the public transport network.

OUTLOOK

POMA, a pioneer in ropeway transportation since 1936, offers innovative and

sustainable solutions for mobility.

18

19

THE MARKET IN 2013

Ropeways today are confronted with growing expectations in terms of performance and convenience. As a specialist for inno-vative transportation systems, POMA offers customers optimum solutions in the form of new ropeways and refurbished systems. In 2013, POMA set the benchmark for groundbreaking ropeways combining maximum service life with a small environmental foot-print.

CUTTING EDGE TECHNOLOGIES FOR ENVIRONMENTAL PROTECTIONEnvironment-friendly operation, including low noise and CO2 emis-sions, is now a key criterion for the choice of a ropeway system. The R&D teams at POMA work continuously to develop convincing high-tech solutions for ropeways combining an excellent carbon balance with short construction periods and significantly reduced operating costs.

THE NEW eezii CHAIRLIFT: COST-EFFECTIVE ALTERNATIVE OFFERING FAST INSTALLATION AND ENHANCED PERFORMANCEHigh capacity, low costs and a small environmental footprint are the three decisive factors for the success of POMA’s eezii detach-able chairlift. The new chairlift, the product of a joint development effort within the HTI Group, is based on existing components man-ufactured and assembled in Europe, mainly in France and the Al-pine region. The system offers a convincing bundle of advantages such as lower construction and maintenance costs, shorter deliv-ery and installation periods, and significant ecological benefits. The environmental impacts in the construction period alone have been reduced by 20 - 30 percent. The eezii system brings efficiency to a new level with the fastest installation you’ve ever seen. The 6-seat-er chairlifts have a transport capacity of 2,800 people per hour at a line speed of 5 meters per second. The French Labellemon-

tagne Group has already placed an order for two eezii chairlifts. For POMA, eezii is a groundbreaking concept for new cost-effective ropeways with a small environmental footprint, combining fast in-stallation with easy maintenance.

MULTIX 10 IN MORZINE: AN ENVIRONMENT-FRIENDLY AND COST-EFFECTIVE SOLUTION WITH THE DIRECTDRIVEModern ropeways have to be economical, reliable and environ-ment-friendly. That is where the DirectDrive comes in. It is the world’s only ropeway drive system developed within the HTI Group that works without a gearbox for smoother and quieter running, reduced wear and power consumption.

THE MULTIX 10, FROM MORZINE TO PLENEY, HAS A RATED CAPACITY OF 3,000 PEOPLE PER HOUR. IT’S THE FIRST FRENCH 10-PASSENGER GONDOLA ROPEWAY TO BE FITTED WITH THIS TYPE OF DRIVE SYSTEM With its environmental advantages, the DirectDrive is suitable for use in both winter destinations and urban applications. The new Morzine-Pleney gondola lift is a replacement for two older lifts. The reduction in the number of towers and a new station design that blends in with the countryside greatly add to the attraction of the winter sport resort and has made users happier with the relaxed boarding style and alighting.

TELEMIX®: COMFORTABLE, ENVIRONMENT-FRIENDLY AND ECONOMICALThe Telemix® system combines chairs and gondolas in a single installation and offers passengers a convincing package with many innovations. The reduced speed of the gondolas in the stations makes for easy boarding and alighting, which is a bonus for ski schools and groups. Those skiers who want to keep their skis on and get back on the slopes as quickly as possible will ride up in

20

21

one of the comfortable two-tone padded chairs with individual footrests. The Vigigard® system is installed on the chairs to en-sure that the restraining bars are closed and locked when they are launched onto the line and cannot be opened until the arrival point is reached. The Telemix® also comes with a loading carpet with automatic height adjustment to match passenger size, which makes loading easy for children too. In France, combined Telemix® installations have been delivered to Pra Loup and Alpe d’Huez. With a line length of 1,314 meters, the “Les Jeux” installation at Alpe d’Huez has a transport capacity of 3,900 persons per hour. It operates with a combination of sixty 8-seater chairs and twen-ty-four 10-passenger gondolas. To guarantee maximum system availability, the installation features a dual drive system with two tandem motors. The ropeway was built in just four months as a replacement for four old surface lifts. The new ropeway consists of 62 towers and ten kilometers of wire rope replaced by a single modern, energy-saving installation.

OLYMPIC WINTER GAMES: UP WITH THE WINNERS IN SOCHIPOMA was very much present at the 2014 Winter Olympics in Sochi, with a total of sixteen installations delivered to the Olympic sites at Rosa Khutor and Gornaya Karusel. Two detachable 6-seat-er chairlifts serving the downhill trail and the chairlift for the jump hill carried the athletes quickly and safely to the start. In addition to the lifts delivered to the actual sites for the Winter Olympics, several new POMA installations were also built in five other winter sport resorts in the northern Caucasus.

SEVEN NEW INSTALLATIONS IN NORTH AMERICAA total of seven new installations were built by LEITNER-POMA (LPOA) in North America in 2013, including the “Kensho Super Chair”, a detachable 6-seater chairlift in Breckenridge (Colorado) that carries skiers and snowboarders up to an altitude of 3,800 meters above sea-level. In addition to three ropeways in the USA and three in Canada, LPOA also delivered a gondola lift to the City of Orizaba (Mexico).

POMA GROWING IN ASIAWith no fewer than five 8-passenger gondola lifts built in Ürümqi, Enshi, Simatai, and Yichun Mingyueshan and one funicular rope-way in Shenzhen, POMA was very successful in the Chinese mar-ket in 2013.

HIGH-TECH SOLUTIONS IN THE FRENCH ALPS In 2013, POMA handled a large number of projects in France. The French ski areas that invested in innovative solutions from POMA in 2013 included Courchevel, Morzine, Val Thorens, Chamrous-se, La Norma, Serre-Chevalier, Pra-Loup, l’Alpe d’Huez, Thol-lon-les-Mémises, Les Houches, Notre Dame de Bellecombe, Or-cières, and Val Fréjus.

22

23

OUTLOOK

URBAN PASSENGER TRANSPORTUrban ropeways are often the ideal solution for traffic problems in big cities and the urban environment in general. The Algerian city of Tizi Ouzou, which is 100 km from the capital Algiers, is getting an urban ropeway system comprising of two 10-passenger gondola lifts and a jigback tram to link an intermodal station at Kef Naadja in the south of the city with the city center of Tizi Ouzou and Redjaou-na in the Northwest. The system will serve as a feeder installation for the people in the outlying areas and will bring much-needed relief to the highly congested highways.The successful urban ropeway project implemented in the Colom-bian city of Medellin, comprising of two POMA gondola lifts by the name of “Metrocable 1” and “Metrocable 2”, will be further exten-ded to include a new tram line, called “Corredor Verde”, connecting with two more gondola lifts, each with a middle station. The rope-ways will link up with the new tram at the Miraflores and Alejandro Echavarria stops.

TOURISM APPLICATIONSIn 2014, the world’s biggest observation wheel goes into service in Las Vegas, Nevada, with passenger capsules engineered by SIG-MA. The wheel has 28 transparent spherical capsules measuring six meters in diameter and weighing 25 tons each. Asia is another particularly attractive region for spectacular tourism installations. A case in point is the gondola ropeway in Nui Cam in Vietnam. The gondola carries visitors to the Buddhist temples of the Mekong Delta in just a few minutes. In Yeosu, a port in the Southwest of South Korea, local residents and visitors will be able to use an 8-passenger gondola lift for a comfortable ride to the memorial of national hero Yi Sun Sin on nearby Dolsando Island. They will also enjoy fantastic views at a height of a hundred meters above the ground over a distance of 1,490 meters.

WINTER SPORTSTwo and a half hours from Beijing, in the Chinese province of Hebei, lies the Chongli ski area, where POMA will build three new rope-ways. An 8-passenger gondola lift with a middle station, a 6-seater chairlift and a quad chairlift will be built for the ski area.In France, POMA is building another Telemix® in the La Clusaz ski resort and a new gondola lift in Chamonix.

AGUDIO – the name for safe and efficient material handling: from proven ropeway

solutions to innovative long-distance aerial conveyors.

26

27

PROJECTS IN 2013

NEW MATERIAL-HANDLING ROPEWAY FOR A BRAZILIAN CEMENT COMPANYWhatever the specification, long spans, deep gorges, high capac-ity or extreme climates, AGUDIO has the right material handling systems, cable cranes and flyingbelts for every application and location.In collaboration with POMA and SEMER, AGUDIO won the contract in 2013 to modernize and upgrade a material-handling ropeway in Apiai, the Brazilian State of Sao Paolo. The client is none other than InterCement, a division of the Brazilian conglomerate Camar-go Correa and one of the world’s biggest cement manufacturers.The eleven kilometer long material-handling ropeway with one in-termediate station is used to carry limestone from a quarry straight to the cement works. The refurbishment included the replacement of all 290 carriers and a capacity increase from 325 to 450 tons per hour. The installation is now up and running again.

PROJECTS IN 2014

HEAVY-DUTY CABLE CRANE FOR DAM CONSTRUCTION IN PERUTo ensure the optimum conditions for safe and efficient material handling for the construction of the Cerro del Águila Dam in Peru, a contract was awarded to AGUDIO to supply a radial cable crane with an incredible 28-ton capacity.The dam is located in an area with very steep valleys with limited access. Almost all the construction materials must be delivered to the site with the help of a cable crane.The dam is being built for Consorcio Rio Mantaro, a group that includes the Italian Astaldi company and the Peruvian Graña y Montero company.The components have already been shipped to Peru and the crane will be installed in April 2014. The dam itself is due to be commis-sioned after a two years construction period. The dam construc-tion will utilize 500,000 cubic meters of concrete.

FLYINGBELT FOR A QUARRY IN BRAZILLast year, AGUDIO won a contract from the Swiss construction material company Holcim. AGUDIO will plan, design and install a 7 km long material-handling conveyor belt that will increase the productivity at a quarry in Barroso, in the Brazilian State of Minas Gerais. The various components for the Flyingbelt were shipped in 2013 and installation work began at the beginning of this year. MEGA-PROJECT IN TURKEY When it is finished, the Yusufeli Dam will be the highest dam in Tur-key and the third highest in the world. To ensure efficient material handling for this mega-project, AGUDIO has been asked to deliver a customized solution in the form of three parallel cable cranes. Each crane will be able to carry up to 28 tons of concrete at a line speed of 3 m/s. Dam construction will involve the placement of over 3 million cubic meters of concrete. Work on the dam is due to start this year.

MiniMetro – the flexible, eco-friendly urban passenger transport system: Bringing people

to their destinations worldwide with maximum efficiency.

30

31

PROJECTS AROUND THE WORLD

KEEPING TOMORROW’S CITIES MOVING: THE MINIMETRODetroit, Minneapolis, Zürich, Perugia, Frankfurt and Cairo are on the list of big cities and airports worldwide using safe, rope-hauled systems for green mobility that continues to grow. The impressive performance of the Cairo Airport Shuttle in its first full year of pub-lic service clearly shows. With an average availability of 99.9% in 2013, the system exceeded the contractual target of 99.7%. That was a key criterion in awarding the contract to the MiniMetro team, which will soon be providing trouble-free passenger transportation in Pisa and Miami.

THE “PISAMOVER”The Italian city of Pisa, with its famous Leaning Tower, will soon have a modern and highly reliable people mover. The approximate-ly two-kilometer MiniMetro will link Galileo Galilei Airport and the railway station “Centrale”, with a mid-station at a 1,200 vehicle car park facility. Even with the mid-station, transit time will be a mere four minutes. In the first five years of operation, the two trains are expected to carry two million passengers and will run at five-minute intervals. The contract covers the planning, construction and subsequent operation of the Pisamover and this includes the car park. The proj-ect is being handled on the basis of a public-private partnership involving LEITNER/AGUDIO, Condotte d’Aqua and Inso Sistemi.

THE “MIAMI AIRPORT APM”Miami International Airport in Florida is one of the biggest airports in the world, handling more than 35 million passengers per year. The decision has now been made to build an innovative MiniMetro to provide highly efficient, fully automatic passenger transportation between the Main Terminal and the Satellite E Terminal, which simi-lar to the MiniMetro in Frankfurt. The new MiniMetro in Miami will be a jig-back operation and will travel on pneumatic tires. It will feature 2 spacious trains, each with three cars and will transport approxi-mately 12,000 passengers per hour. The planning and engineering are being handled in a combined operation involving the MiniMetro teams in the USA and Europe. One of the main challenges is to adapt the system into the existing airport buildings and incorporate the haul rope into the existing self-propelled guideway. The project will be built in two phases to allow for the existing system to con-tinue operation for uninterrupted passenger service.On the basis of the company’s excellent track record with similar mobility systems, LEITNER-POMA of America, Inc. has also been awarded a system operation and maintenance contract for a peri-od of 15 years. Phase 1 of the new MiniMetro is scheduled to go into service in the Spring of 2016 and the complete system will be in operation in March of 2017.

PRINOTH – innovative technology and pioneering design characterize the snow

groomers, which are able to cope with world demands.

34

35

SNOW GROOMERS

MARKET IN 2013After shrinking by just under 10% in 2012, the global snow groom-er market experienced slight growth in 2013. All activities in the Alps developed nicely, where many clients appreciated the avail-ability of engines which meet previous emissions standards and covered them accordingly. Scandinavia continues to be a stable and attractive market. The activities in Eastern Europe and Russia were particularly successful, especially in Sochi with a major order for the Olympic Games. North America continued to distinguish itself as the largest single market and even grew significantly in importance over the previous year. The park segment, in which we have established a clear competitive advantage with the BISON X, stands out in particular. The used vehicle market suffered from the poor snow situation and the high temperatures which affected the northern Alps in particular at the beginning of the season.

WORLD CLASS SLOPES AT THE WORLD CUP IN SCHLADMINGAs exclusive supplier for the Planai & Hochwurzen Bahnen for the 2013 Alpine Ski World Championship, PRINOTH sent 17 powerful snow groomers in classic green and white, the colors of Styria, onto the slopes to ensure the best-quality race courses. Highest quality and excellent technology were crucial. With their mature tilling tech-nology, the snow groomers guaranteed the perfect piste, whatever the snow conditions. For PRINOTH the highlight was the interna-tional World Championship press conference with ski star Erik Guay in the Tirol Haus, at which the podium finisher and the technical director of Planai & Hochwurzen Bahnen, Karl Höflehner, the head trainer of the ÖSV Austrian ladies ski team, Herbert Mandl, and FIS Race Director Hans Pieren, discussed the topic of racing slopes.

DRIVEN BY INNOVATION. THE LEITWOLFThe LEITWOLF is distinguished by technical innovation, exceptional performance and a number of highlights that are unique throughout the world. Beginning its path to success in 2013, the LEITWOLF allows no compromise when creating the perfect slope conditions. The parallel offset of the tiller is a technological masterpiece; the driver is able to determine the trailing characteristics of the tiller and choose between parallel offset and free trailing mode depend-ing on the situation. For a perfect slope surface across its entire width and increased stability during transverse crossings. With the latest SCR technology and 2,200 Nm and 510 hp (375 kW), the LEITWOLF is the world‘s first production vehicle to meet the new Euromot IIIB / TIER 4i exhaust emission standard: this means that fine particle emissions have been reduced by 90% and nitrogen emissions by 50%. With a width of 4.5 m, the new LEITWOLF is 294 mm wider than comparable vehicles. The widening of the MASTER blade by 280 mm provides greater push performance and ensures that slope edges are well-defined. The newly-devel-oped AUTOMATIC winch, with a pulling capacity of 4.5 t, is ideally suited to the vehicle. The low and central position of the winch‘s pivotal point means that steering behavior is not influenced by the winch. Overall performance has been improved by perfectly distrib-uting power between the winch and the traction drive.

SNOW HOW As an innovation and technology leader, PRINOTH is known for efficient snow grooming technology. Not only dos PRINOTH put suitable technology at its customers‘ disposal for their require-ments, but also supports them in their dealings. PRINOTH is not just a manufacturer, it is also a partner. PRINOTH helps custom-ers to operate efficiently. The comprehensive consulting concept SNOW HOW by PRINOTH now offers ski resorts the opportunity to raise their productivity in all areas. Operating costs are reduced and performance is increased. SNOW HOW consists of two mod-ules: RESOURCE MANAGEMENT and MOUNTAIN CONSULTING. RESOURCE MANAGEMENT is a software-based evaluation tool for perfect planning, that uses vehicle data and analyses. MOUN-TAIN CONSULTING, on the other hand, addresses training for an efficient use of snow groomers. The combination of the two, RE-SOURCE MANAGEMENT and MOUNTAIN CONSULTING, makes the difference! SNOW HOW is already in use in Europe and North America.

PARTNERSHIP WITH SNOW PARK TECHNOLOGIESPRINOTH and park construction specialists Snow Park Technolo-gies (SPT) announced a long-term partnership at the international level in 2013. By working together with world-renowned compa-nies such as SPT, PRINOTH has the opportunity, as a manufac-turer, to collaborate in the development of snow groomers and to create the most innovative and efficient snow groomers for the construction of professional snowparks. What began as loyal part-nership is now being continued at a professional level. ”PRINOTH snow groomers allow us to build the best parks and pipes for the largest action sports events around the world. With PRINOTH as the leader in innovation and technology, we have an opportunity to influence the future of the vehicles with which we work every day,“ explains Chris ”Gunny“ Gunnarson, CEO of SPT.

SOCHI 2014With 62 snow groomers, the 2014 Winter Olympics in Sochi are an international prestige project for PRINOTH. As the official partner of Rosa Khutor, the area hosting the alpine competitions during the Olympics, every slope was groomed by PRINOTH snow groomers. Innovative technologies, impressive tilling performance and the drivers‘ know-how, accumulated during numerous major sporting events, mean that the snow groomers guaranteed perfect racing slopes. In order to ensure not only that the technology was problem-free, but also that the snow groomers were used correctly and provided with the appropriate maintenance, PRINOTH made its knowledge of intelligent snow grooming available and sent pro-fessional snow groomer drivers to Rosa Khutor to ensure perfect slope conditions before and during the Games. To ensure that the event took place without any problems, PRINOTH service techni-cians were also on-site with a capable Russian partner.

36

37

MARKET IN 2013 2013 was an important year for the tracked utility vehicle range. The PANTHER quickly established itself as the first-choice vehicle for various applications, leading to increased production of the T8 and T6 models. The long-term partnership with Caterpillar Pipe-line Machinery allowed the PANTHER to set new standards in the pipeline industry. Higher turnover was prevented by a weakened energy supply market and a displacement of projects from power transmission to power distribution. This should only be a temporary phenomenon, however, and 2014 promises more positive devel-opments. Overall, PRINOTH tracked utility vehicles continue their path to success, positioning themselves as the most efficient carri-er vehicle solution for the off-road sector.

BIG.BOLD.BLACK. THE PANTHER T6At the February PDAC trade fair in Toronto, Canada, PRINOTH un-veiled the newest addition to the PANTHER family, the PANTHER T6 for the mining exploration sector. At the product unveiling, in-vited clients were shown the new vehicle and introduced to all of its benefits. Smaller, faster but just as versatile and maneuverable as the PANTHER T8, the T6 version carries up to 5,443 kg, which means it has the highest payload of its class. The unique track profile allows it to pass through rough terrain without stalling or sinking in and without leaving a trace on the environment. And since it is a real PRINOTH, it goes without saying that performance, technology, reliability and cost efficiency are at the highest level. Equipped with a core drill, it demonstrated its versatility and reli-ability in the collection of core samples. The PANTHER T8, suitable for the mounting of larger drills, was displayed at a partner‘s stand. In October, the PANTHER T6 was presented at the ICUEE trade show with the entire range of energy supply applications.

COOPERATION WITH CATERPILLARPRINOTH is pleased to announce that it is working with Cater-pillar in the pipeline industry. The PANTHER T8 was convincing and selected by Caterpillar for the joint project. PipeLine Machinery International announced the joint project in an official press release. The PANTHER T8 is used in the off-road sector in even the most difficult weather conditions. Thanks to its exceptional performance and versatility, it is in operation in the mining, construction, oil and gas industries as well as in energy supply. From unusual construc-tion work in the middle of nowhere to maintenance work on city roads, the PANTHER T8 has the capacity and reliability to over-come even the greatest challenges.

SALES SUCCESSES IN SCANDINAVIA Scandinavia continues to be a market with great potential in the area of tracked utility vehicles. At June‘s Elmia Wood in Sweden, the world‘s largest international forestry trade fair, the PANTHER T8 for light forestry applications was unveiled. The PANTHER can work efficiently and reliably under the most extreme weather con-ditions and conquer the most difficult terrain without damaging the ground. The new forestry crane accessory is the first introduction of the benefits of low ground pressure to the forestry industry. The system was developed together with a Norwegian partner.

TRACKED UTILITY VEHICLES

38

39

MARKET IN 2013 Due to the long winter and relatively wet spring, the actual 2013 business year began quite late in Europe. A recovery is only pre-dicted for the second quarter. Russia has established itself as the market leader for carrier systems, 2013 was the most successful year for the sale of major systems such as the RAPTOR 500 and 800. Our presence at international trade fairs and the jump to North America meant that the first RAPTOR 500 and 800 models were sold in the USA. Another important sales success was achieved in Great Britain with the RAPTOR 800, equipped with a special under-carriage guaranteeing low ground pressure for unsupportive ground types.

RAPTOR 800 CONQUERS NORTH AMERICA Specially developed for the most difficult tasks such as heavy clear-ing, vegetation management around pipelines and power lines, cre-ation of fire breaks and re-cultivation tasks in professional plantation and forestry, the RAPTOR 800 tracked tractor perfectly combines performance and capability. Everything is designed for durability, ease of servicing and a high level of efficiency, down to the tiniest detail. The RAPTOR 800 has succeeded in combining innovation and performance. With the professional mulching system, heavy work can be carried out without compromising on working comfort. This is a combination that has never existed before. By presenting the RAPTOR 800 at various American and Canadian trade fairs and live shows, AHWI-PRINOTH successfully ventured onto the North American continent to develop the largest international market in the long term.

AHWI-PRINOTH IN SWEDEN AND RUSSIA At the world‘s largest international specialty forestry trade fair, El-mia Wood, AHWI-PRINOTH presented its forestry technology to an expert audience in Jönköpping, Sweden, at the beginning of June. On display were the AHWI-PRINOTH RT 400 tracked tractor,

the M 00-2300, M 450-H1100 and FM 600-2300 mulchers and the RFL 700 rotavator. Together with our partners, we were able to welcome many clients and establish new contacts. Especial-ly-interested parties came from Scandinavia, Central and Eastern Europe, North America, Alaska and Australia. At the same time, Moscow played host to the CTT, the leading specialist trade fair for the construction industry in Russia and Eastern Europe. On display were the RAPTOR 800, M 500 mulcher and a GO-TRACT from the tracked utility vehicle range.

TAILORED COMPLETE SOLUTIONS FOR ENERGY SUPPLY AT THE ICUEE 2013 At the ICUEE, PRINOTH presented its products for every require-ment in the area of vegetation management in the USA for the first time: With the RAPTOR 800 tracked tractor, the RT 200 professional mulching system and the mulcher attachment for GM 450H exca-vators, PRINOTH displayed innovative tracked carrier vehicles and mulcher accessories for optimal working performance and maxi-mum reliability in every requirement of vegetation management. As the leader in performance, safety and innovation, PRINOTH clears a path through difficult terrain!

TWO STRONG PARTNERS, ONE COMMON GOAL. AHWI HAS BECOME PRINOTH2013 provided the best circumstances to be able to offer a bal-anced and ecologically-sustainable complete solution in the area of vegetation management and biomass processing. As a result of its partnership with AHWI, PRINOTH has added a third area of activity to its portfolio, which now includes vegetation management in ad-dition to snow groomers and tracked utility vehicles. Following the strategic alliance between AHWI and PRINOTH, AHWI appeared at Agritechnica 2013 for the first time under the PRINOTH name and presented its products tailored to every requirement in the area of vegetation management.

VEGETATION MANAGEMENT

DEMACLENKO – the innovative, fully automatic, customized

snowmaking systems of the future.

42

43

PROJECTS IN 2013

MOVING UP TO THE TOP OF THE INTERNATIONAL SNOWMAKING MARKETIn 2013, DEMACLENKO was able to consolidate and achieve fur-ther growth. Through a combination of customer loyalty, sales to new markets and the launch of new products, like the Titan Silent with its low-noise fan and snowVisual control software, the com-pany has moved up to join the leaders of the global snowmaking market.International customers really appreciate that DEMACLENKO of-fers a complete line of highly efficient snowmaking systems from a single vendor. Complete with an effective after-sales customer care service program that has been upgraded in 2013. This cus-tomer service program can be implemented over the entire prod-uct lifecycle, from commissioning to retirement and can include remote diagnosis. All DEMACLENKO facilities have dedicated trouble-shooting teams on call 24 hours a day for a dense service network offering a fast and effective response.

FROM SYSTEM UPGRADES TO NEW TURNKEY INSTALLATIONSIn addition to the traditional ski resorts, the recent arrivals on the winter sports market also place their trust in DEMACLENKO. The company is equipped to deliver all the relevant products and ser-vices to design and engineer complete snowmaking installations on a turnkey basis.Two of the showcase projects in 2013 were completely new instal-lations. At Plešivec ski resort in the Czech Republic, DEMACLEN-KO installed a turnkey system with a large pump station complete with cooling towers that supply the entire ski area. A total of 125 concrete pits were built for 65 snow guns. This was the first Group project in the Czech Republic, with LEITNER ropeways building three new ropeways and PRINOTH supplying a snow groomer. In Wurmberg, in the German federal state of Lower Saxony, a com-plete snowmaking system with 101 snow guns was installed in just six months. The system upgrades included the delivery of pumping stations to the ski resorts of Sexten Dolomites (Italy), St. Moritz (Switzerland), Flachau (Austria) and many others.

ORDER LEVELS MAINTAINED ON THE TRADITIONAL MARKETS DEMACLENKO’s biggest markets are traditionally the Alpine re-gion and Scandinavia. The following projects were successfully completed there in 2013.DEMACLENKO delivered state-of-the-art snowmaking technol-ogy as part of an improvement program for the Austrian winter sports mecca Snow Space Flachau. With the two upgraded pumping stations with cooling towers and cooling ponds, it is now possible to fill the reservoir and operate the snowmaking system at the same time.St. Moritz, the Swiss cradle of winter tourism, has always come to DEMACLENKO for its snowmaking requirements. The work there in 2013 included a full refurbishment of the two pumping stations and replacement of the pits and lines on the mountain at Mar-guns-Glüna. The existing snowmaking installation at the Sexten Ski Area in the High Puster Valley (South Tyrol/Italy) was also upgraded. A new water supply main and a more powerful pumping station (210 l/s, 700 m, 3,000 kW) was built and will deliver enough water in the future for perfect snow cover on the slopes. Kolfuschg in Alta Badia (South Tyrol/Italy) is one of the pioneering ski resorts where DEMACLENKO supplied seventeen snow guns, including six Titan Silents with the snowVisual control software. This means quiet and efficient snowmaking on the slopes closest to the village. Thanks to the company’s Swedish facility in Östersund, DEMACLENKO was also able to land several contracts from Scandinavian winter sports destinations in 2013. These include Åre, Sälen, Tänndalen, and Trysil, where the system upgrade also involved the installation of the new snowVisual control software for efficient control and monitoring for all of the snowmaking in-stallations.

TOP QUALITY SNOW FOR NORTH AMERICA AND ASIAIn 2013, DEMACLENKO America and Gilmonton opened their doors to new facilities in Grand Junction, Colorado. They also landed their first contracts, as in the case of Powder Ridge Resort, a popular ski area in Connecticut, where six Evo fan guns now guarantee perfect snow on the trails.A strong focus was placed on China as a market of the future, and several projects were successfully completed there in co-operation with POMA Beijing and Beijing Carving. This includes Changbaishan Ski Resort, which opened in 2012 as one of the latest premiere Chinese ski destinations and is now known as the Chamonix of the East. Five fully automatic Titan snow guns were installed in November 2013 and now gladden the hearts of Chi-nese skiers and snowboarders with snow “out of the blue”.

44

45

GROWTH AND INNOVATION

RESEARCH AND DEVELOPMENT AS A KEY TO SUCCESS More technology for customers! That is the thinking behind DEMACLENKO’s policy of a major systematic investment in re-search and development. The result: products that combine better performance with longer service life and more economical operation – which is decisive criteria for all winter resort operators and customers.

LOW ON NOISE, BIG ON POWER: THE TITAN SILENT2013 saw the arrival of a partner for the Titan: one of the most powerful snow guns on the market in the form of the Titan Silent. It packs the same power and performance as the Titan but is a quiet operator. This is achieved with the help of special sound insulation for the fan, which ensures that the newcomer meets the legal require-ments for night-time work in residential areas.

SNOWMAKING AT A GLANCE: SNOWVISUALDEMACLENKO’s snowVisual control software was revamped in 2013 and now has an improved user interface that is sim-pler, clearer and has more ergonomic controls. The new version gives the operator an instant overview and full control over the snowmaking system with its various components, processes, performance parameters and possible faults, etc. for enhanced resource management.

LEITWIND – technologically mature, gearless wind turbines with a focus on

individual market requirements worldwide.

48

49

LEITDRIVE: FREQUENCY CONVERTER PLATFORM OF THE LATEST GENERATIONIn response to the demanding requirements of the international market, LEITWIND has developed a reliable and energy-efficient frequency converter by the name of LeitDrive. With their modular design and in-house converter software, these frequency conver-ters are flexible, customized solutions in a power range of 250 kW to 3 MW. In addition to frequency conversion, the converter also improves network stability and protection. The water-cooled Leit-Drive is a reliable system with high power density. Each 250 kW module is only 400 mm wide. The converter is a maintenance-friendly design with easy accessibility of all components. The in-house expertise increases quality in the service area, in purchasing replacement parts and in customer support. Following successful tests, the innovative frequency converter will be installed more and more frequently in all LEITWIND wind turbines.

SYNCHRONOUS GENERATOR WITH PERMANENT MAGNETS: BUILT FOR MAXIMUM EFFICIENCY Based on synergies created in cooperation with the Group’s rope-way engineering division, LEITWIND has combined the DirectDrive with a multi-pole synchronous generator with permanent magnets. The result is a superior performance profile. In keeping with Henry Ford’s adage, “You cannot break what there is not,” the number of rotating parts was minimized. This means less wear and thus greatly reduced operating and maintenance costs. In the last ten years, the generators have been the subject of a continuous de-velopment program, with air cooling and water cooling, a torque of up to 2,300 kNm and power ratings of up to 3 MW. Today the LEITWIND team has the knowledge to offer support in the field of DirectDrives for ropeway installations; which has enabled the wheel to come full circle.

PROTOTYPE IN LELYSTAD: LATEST ADDITION TO THE PRODUCT PORTFOLIOThe prototype is environment-friendly electric power for 4,000 fa-milies from a single wind turbine thanks to the LTW101 3.0 MW - the latest addition to the LEITWIND range. The prototype went into service at the Lelystad test site in the Netherlands in August 2013. From the results to date, the Lelystad turbine is expected to pro-duce 12 million kWh of green energy per year. Expectations with regard to generating capacity were met in full throughout the trial period. The wind turbine also achieved outstanding results in terms of availability. The prototype is now being used for further trials in the 2.0 MW and 2.5 MW power range. Certification of the LTW101 3.0/2.5/2.0 MW pursuant to IEC 61400-22 is being performed by TÜV Süd and is expected to continue until the summer of 2014. This powerful wind turbine will then be yet another convincing cal-ling card for LEITWIND.

LEITWIND CUSTOMER CAREAt LEITWIND, customer relations are seen as a partnership in the creation of a sustainable future. In that context, the success, safety and profitability of LEITWIND installations are very important. The LEITWIND Customer Care Package according to the IEC 61400-26 standard offers a full maintenance contract. In order to provide customers with a complete service offering tailored to their needs, LEITWIND Customer Care is divided into three main areas: Field Service, Problem Solving and Spare Parts Management. Field Service handles scheduled and non-scheduled maintenance and repairs, as well as retrofitting for greater efficiency from existing plants. Problem Solving can be contacted around the clock. Spare Parts Management is responsible for the procurement of spare and wear parts.

PROJECTS IN 2013

50

51

OUTLOOK FOR 2014

MARKET STUDY AND STRATEGIES FOR THE FUTUREThe DirectDrive, customer care upgrades and a focus on small and medium-size projects are the main items on the LEITWIND agenda for the near future. In collaboration with a leading consulting com-pany in the field of renewable energy, a market analysis is being prepared as the basis for a clear definition of our future strategies. The DirectDrive, the gearless synchronous generator with perma-nent magnets which is the DNA of LEITWIND wind turbine power plants, impresses with its simple modular design and outstanding long-term availability. The excellent results achieved to date are the basis of success for the market place. A competitive advantage is to be had from a consistent focus on customer care and project management. Our full-service offering and long-term service contracts minimize the risks for customers and reduce their operating costs thanks to the rapid response pro-vided by service engineers with an excellent standard of training.In addition to its activities on its established markets, namely Italy, India and Bulgaria, LEITWIND will also be focusing on other mar-kets such as Canada, the USA, Switzerland and the UK.

NEW PRODUCT FOR THE TURKISH WIND POWER MARKET Turkey today is the world’s fastest-growing energy market. Accor-ding to current forecasts, the country is set to double its energy consumption to 500 billion kWh by 2023. The Turkish government has decided that 30% of its energy requirements must be met in the form of renewable energy by 2013. The Turkish legislation has also been interesting with regards to power generation and their related investment agendas. The legislation has set a new limit for power generation operations without a license at the end of March 2013 from 500 kW to 1 MW. LEITWIND has been closely following developments on the Turkish energy market. In response to the legal situation there, a new variant of the LTW80 has been develo-ped. With the optimized performance of the LTW80 1.0 MW plus further strategic measures, LEITWIND is set to revolutionize the Turkish energy market.

52

Turin (Italy)

Wolkenstein (Italy)

Klausen (Italy)

Sterzing (Italy)

Sterzing (Italy)

Montmélian (France)

Montmélian (France)

Grenoble (France)

Telfs (Austria)

PRODUCTION FACILITIES AND OFFICES WORLDWIDE

53

Passy (France)

Veyrins (France)

Herdwangen (Germany)

Östersund (Sweden)

Chennai (India)

Beijing (China)

Granby (Canada)

Grand Junction (USA)

Starà L’ubovña (Slovakia)

Com

pani

es o

f Hig

h Te

chno

logy

Inve

stm

ents

Companies of High Technology Investments

2013R E P O R T

Rep

ort

201

3