The electricity operator, Elia, recorded “strong operational performance” in 2018 with an increase in its net result of 32% to €275.2 million, indicated the group on Friday. Ordinary shareholders are set to benefit from the current financial position. It has some 30 million end users.
In April of last year, the group acquired an additional 20% shareholding in Eurogrid International. Hence total turnover shot up by 122.8% to €1,931.8 million.
The company completed significant infrastructure projects within the allocated deadlines and budgets, said the CEO, Chris Peeters. The company’s annual results are also a reflection of its excellent performance within its key operational sectors. “One of our most significant achievements was the increase of our share in 50Hertz to 80%. This has given us complete control of the 50Hertz company,” said Peeters.
Investments in Belgian and German networks have been agreed up to a total of €636.7 million and €491.5 million respectively. This is “so as to guarantee a reliable, sustainable and reasonably priced energy offering, which meets the demands of society in fighting global warming and climate change,” confirmed Peeters.
A dividend of €1.66 per share will be proposed at the shareholders’ AGM on 21 May 2019.