Elia Group, the operator of the high-voltage network in Belgium and parts of Germany, announced a net profit of €512.5 million for 2024, yielding an adjusted return on equity of 8.37%.
Earnings per share grew by 29.8% last year. These figures surpass the group’s expectations, which had predicted a net profit between €355 million and €395 million.
In 2024, the group invested €4.8 billion in the network "to accelerate society’s decarbonisation efforts." These investments increased the regulated asset base to €18.5 billion, a rise of 27.8%. Elia Group plans to invest a total of €31.6 billion between 2024 and 2028, with €26.8 billion being allocated from 2025 to 2028.
Additionally, Elia announced a capital raise of €2.2 billion this year, with €850 million already secured through a private placement.
For 2025, Elia Group expects a net profit between €490 million and €540 million.
A dividend of €2.05 per share will be proposed at the group’s General Meeting on 20 May, with payment scheduled for June.
"Despite a very challenging environment, 2024 was an excellent year for Elia Group, which recorded solid financial results both in Belgium and Germany," said the group’s CEO Bernard Gustin in a statement.
"With a strong and balanced presence in two geographical areas, direct access to the North Sea and the Baltic Sea (Europe’s future energy hubs), and a team with unique expertise, Elia Group is perfectly positioned to expand its footprint in Europe and beyond, setting the benchmark for electricity transmission," Gustin concluded.
