Electricity operator Elia recorded ‘strong operational performance’ in 2018
Share article:
Share article:

Electricity operator Elia recorded ‘strong operational performance’ in 2018

© Belga
The company completed significant infrastructure projects within the allocated deadlines and budgets.
© Belga

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.


The Brussels Times

Latest news

More politicians than ordinary citizens at the Conference on the Future of Europe
The second Plenary of the Conference took place on Saturday in the European Parliament in Strasbourg and discussed the contributions from the ...
Belgium’s Consultative Committee to meet on Tuesday
The next meeting of Belgium's Consultative Committee, scheduled for Friday, has been brought forward to Tuesday at 4:30 PM, according to local media ...
Coca-Cola, Pepsi and Unilever are world’s biggest plastic polluters
Coca-Cola, Pepsi, and Unilever were found to be the world's biggest polluters of plastic in a report published by Branded on Monday. Over 11,000 ...
Four men charged with illegally buying thousands of live ducks to hunt on private land
Four Belgian men will appear in court on Monday facing charges related to the purchase of thousands of ducks, which were then released into a private ...
More wolf attacks: 15 deer killed at family resort over the weekend
Fifteen deer were killed by wolves in the Belgian province of Limburg this weekend, between Saturday night and Sunday morning. The deer were ...
Cost of breast cancer still too high for many patients
Breast cancer still carries too high a cost for patients when one in nine women in Belgium will face the disease before reaching 75, according to a ...
Gare Maritime: Brussels’ most exciting new architectural project
A generation ago, the Gare Maritime in the Tour & Taxis industrial site was an abandoned wasteland. It is now a model for urban renewal and ...
Belgium in Brief: Rules For A Fourth Wave
It's the news that nobody wants to hear, but here we go again. Belgium’s council of ministers will hold an emergency meeting on Monday to discuss ...
Belgian grandparents to walk across Scotland for COP26
A group of Belgian grandparents has set off on a 100 km hike that will take them from Belgium to the Scottish city of Glasgow, just ahead of the ...
Rise in fuel prices will bring Belgian State €547 million in tax, say Workers Party
The sharp rise in fuel prices that have been felt across the continent will bring an additional €547 million to the Belgian State, the Workers' Party ...
Amid backlash, Brussels police chief promises to do better for sexual assault victims
After multiple rallies against sexual violence took place in Brussels last week, with victims offering testimony of poor treatment from police when ...
Person hit by train in Brussels
A person was hit by a train in the tunnel between Brussels North and Brussels Central at around 10:20 AM on Monday, railway network manager Infrabel ...