FactsandFigures-EN-2010

Powering a world in progress

EliaFacts & Figures 2010EN

(in million €, results per share in €)

Revenue 1,037.5

Net profit 123.2

Total assets 5,904

Net profit 2.26

Dividend 1.40

Number of Elia Group employees (FTE) 1,755.47

Length of the networks in kilometres (31/12) 18,173

Residents (in millions)* 29

Elia Group - Key figuresConsolidated IFRS results

01 • ELIA GROUP

* In the area covered by the networks

Ratios 2010 2009 2008 2007 2006

Pay-out ratio 68.4% 79.4% 63,9% 80.5% 80.8%

Return on equity 7.3% 6.2% 7,6% 5.9% 5.9%

Return on capital employed 6.7% 6.3% 6,5% 6.3% 6.0%

Net debt / Equity 127% 179% 175,8% 159.7% 158.6%

Leverage (Debt / Debt + Equity) 56% 65.8% 63,7% 62.1% 61.9%

EBITDA / Financial charges 3.3 2.5 3,1 3.0 3.0

Net debt / EBITDA 7.6 7.5 7,1 7.1 7.1

Margins

EBITDA margin 39.5% 42.5% 44.1% 42.2% 41.1%

EBIT margin 27.2% 29.3% 31.4% 29.3% 28.7%

Net-profit margin 11.9% 10.9% 13.6% 10.6% 10.7%

Dividend yield on equity 4.2% 4.9% 4.9% 4.7% 4.7%

Tax rate 21.4% 19% 21.2% 29.7% 28.2%

Elia Group - Financial ratios (under IFRS)

02 • ELIA GROUP

The Elia Group is organised around its two major con-stituent electricity transmission system operators: Elia in Belgium and 50Hertz Transmission in Germany.

In Belgium, Elia comprises two legal entities, Elia System Operator NV/SA and Elia Asset NV/SA, which operate as a single economic entity under the generic name Elia, and a subsidiary, Elia Engineering. Elia, the Belgian transmission system operator, holds licences for its 380 kV to 150 kV national grid and for the 70 kV to 30 kV networks in Belgium’s three regions.

50Hertz Transmission, one of the four German transmission system operators and active in the north and east of Germany, is held jointly by Elia (60%) and Industry Fund Management (IFM) (the remaining 40%). The acquisition was concluded in May 2010 after it had been approved by the EU authorities.

The Elia Group is now amongst the top five transmis-

sion system operators in Europe. Through its actions it has set an example in terms of its independence, its role as a driving force behind development of the Euro-pean market, its commitment to the security of supply of electricity and its contribution to the integration of energy generated from renewable sources.

The primary mission of the Elia Group is to ensure the reliable and entirely safe transmission of electricity gen-erated by generation units to consumers connected to its grids in Belgium and Germany (distribution system operators and major industrial consumers).

Given its strategic position at the intersection between the electricity markets in the west, east and north of Europe, the Elia Group safely manages electrical power imports, exports and transits on its networks in Belgium and Germany. It is also playing a key role in establishing a fully-fledged electricity market in Europe

Profile03 • ELIA GROUP

through its (direct and indirect) participation in the shareholdings of the APX-Belpex-Endex and EPEX exchanges.

The Elia Group also offers a range of consultancy and engineering services to its customers and to the community as a whole.

Its approach encompasses respect for the environ-ment and provides support for EU, national and regional sustainable development policies, with the Group ensuring it involves the various stakeholders in its activities at national and European levels.

The Elia Group applies the rules relating to corporate governance as well as the provisions of the corpo-rate governance codes applicable to companies quoted on the stock exchange.

Elia System Operator has been quoted on the regu-lated Euronext Brussels market since June 2005.

04 • ELIA GROUP

TenneTAmprion

EnBWTNG

TenneT GmbHBerlin

Brussels

Planned Offshorewind farms

Power stations

High-voltage lines

05 • ELIA GROUP

Operation of the electrical systemElia constantly monitors the balance of its control area. Since electrical energy can-not be stored, a balance must be continually maintained, in real time, between the quantities of electricity injected into the system and the quantities taken off it (i.e. consumed). Security of supply in Belgium depends on this.

Operation of the infrastructureElia maintains high-voltage installations: lines, cables, transformers, and so on. De-pending on market requirements and given the need for sound operation of the elec-trical system, Elia operates and upgrades its grid using state-of-the-art technologies.

Market facilitationElia holds a unique, central position on the national electricity market, enabling it to serve as a market facilitator and implement services and mechanisms to ensure the proper operation and development of the market in continental Europe.

Furthermore, by spearheading numerous initiatives, Elia intends to play a key role in the electrical system of Western Europe.

The Elia Group’s activitiesAs a transmission system operator, Elia Group has three main, interdependent tasks:

06 • ELIA GROUP

Elia is also taking action - in Belgium and abroad - to optimise the company’s productivity and capitalise on its existing know-how.

Supporting market and of European system integration

The Elia Group is one of the most ”European” system operators and has taken countless initiatives with a view to establishing a European market and a safe and reliable system that will ensure the security of supply of companies and the community.

Leading the way in terms of integrating renewable energy and wind power

The factors mentioned above mean that the two TSOs are ideally positioned to play a strong role in estab-lishing a prospective offshore system. They mainly work in cooperation with NGOs such as the World Wildlife Fund within the Renewables Grid Initiative or

in consortiums such as Friends of the Supergrid. This is a major challenge given the extent of the climate challenges facing us.

A research and development centre serving the Group

With an ”R&D” operating at Group level, Elia and 50Hertz intend to continue to play a leading role in building the European system and establishing the European market, and to demonstrate its capacity for innovation to meet the challenges facing the sector.

A business development centre developing new activities for the Group

The Elia Group has also set up a business develop-ment centre to listen to what the market has to say and to develop consultancy and engineering services that are tailored to the needs of its international customers.

07 • ELIA GROUP

Other activities

Staff breakdownElia Group - 31 December 2010

Elia Transmission Men Women Total FTE

Management 7 0 7 7

Supervisory staff 292 74 36 359.6

Employees 646 144 790 770.0

Total 946 218 1,163 1,136.6

50Hertz Transmission Men Women Total FTE

Management 4 0 4 -

Supervisory staff 54 9 63 62.5

Employees 435 124 559 556.3

Total 489 133 622 618.8

08 • ELIA GROUP

9

09 • ELIA GROUP

High-voltage grids*Length of the Elia grid as at 1 January 2011

Voltage (kV) Underground (km) Overhead (km) Total (km)

380 - 891 891

220 - 297 297

150 427 2,008 2,435

70 280 2,382 2,662

36 1,927 8 1,935

30 141 22 163

Total 2,775 5,608 8,383

Length of the 50Hertz grid as at 1 January 2011

Voltage (kV) Underground (km) Overhead (km) Total (km)

380 55 6,830 6,885

220 3 2,862 2,865

110 2 23 25

400(DC) 15 - 15

Total 75 9,715 9,790

* Overhead connections: route length / Underground connections: electrical length

10 • ELIA GROUP

Management and supervisory bodies

Elia Asset 100%

CASC9,46%

50HertzTransmission

100%

EurogridGmbH100%

GridlabGmbH100%

EurogridSCRL60%

HGRT24,5%

Coreso22,49%

Elia RE100%

CAO12,5%

Coreso10%

EMCC20%

50HertzOffshore100%

Elia Engineering100%

APX20%

Elia System Operator

11 • ELIA GROUP

Board of directorsTwo new directors (one independent director and one representative of the shareholders) were appointed to sit on the board of directors, following an amendment to the Articles of Association that was adopted by an Extraordinary General Meeting held on 13 January 2011, with a view to increasing the number of directors from 12 to 14, of whom half are independent directors.

The boards of directors of Elia System Operator and of Elia Asset are identical, with each comprising 14 members. The directors have no management role within Elia System Operator or Elia Asset. Half of them are independent directors, appointed by the General Meeting and having gained from CREG a positive unanimous opinion on their independence. At the time of the General Meeting held on 10 May 2011, the board of directors had the following composition, with six-year terms of office that will come to an end at the General Meeting in May 2017.

ChairmanLuc Van Nevel Independent

Vice-ChairmenFrancis Vermeiren Publi-TThierry Willemarck Independent

DirectorsJennifer Debatisse Publi-T Jean-Marie Laurent Josi IndependentClement De Meersman IndependentJane Murphy IndependentMiriam Maes IndependentJohan De Roo Publi-T Dominique Offergeld Publi-TJacques de Smet IndependentLeen Van den Neste ArcoClaude Grégoire Publi-TSteve Stevaert Publi-T

12 • ELIA GROUP

Management CommitteeDaniel Dobbeni, Chairman and Chief Executive Officer Jacques Vandermeiren, Vice-Chairman and Chief Corporate Officer Jan Gesquière, Chief Financial Officer Hubert Lemmens, Chief Innovation Officer Roel Goethals, Chief Officer European Activities and Participations Frank Vandenberghe,Chief Officer Energy & System Management Markus Berger, Chief Officer Asset Management

13 • ELIA GROUP

14 • ELIA IN BELGIUM

Elia Transmission*

Key figuresConsolidated IFRS results 2010 2009 2008 2007 2006 2005

Operating income 763.3 771.3 757.3 731.7 711.5 714.2

EBITDA1 336.8 327.9 334.1 308.5 292.5 295.9

Net profit 94.6 84.0 103.1 77.6 75.9 76.5

Regulated asset base (RAB)2 3,743 3,766 3,764 3,583 3,443 3,443

Average RAB2 3,758 3,765 3,673 3,512 3,442 3,371

Number of employees (31/12) 1,136 1,205 1,231 1,249 1,227 1,221

Length of the grid in kilometres (31/12) 8,383 8,379 8,412 8,406 8,367 8,344


* The criteria relating to 50Hertz Transmission are detailed in a separate publication.

1 EBITDA = Operating income - cost of goods and services - personnel costs - provisions - write-downs

2 Calculated in accordance with Belgian accounting principles (Belgian GAAP)

Sites


Lochristi

Lendelede

Courcelles (Gouy)

Genk (Stalen)

Liège (Bressoux)

Villeroux

Antwerp (Merksem)

Schaarbeek

Brussels

Namur

Diegem

HeadquartersNational Control Centre Regional Control Centre Elia EngineeringService Center

Investments


200

180

160

140

120

100

80

60

40

20

0

In million € Investments (IFRS)

161.2

141.4

2009

121.5113.9

2010

142.5

2008 2007 2006

The initial sum of € 146.6 million was revised on the basis of customer projects being postponed.

Personnel

SafetyElia frequency and severity rates 2006-2010

Frequency rate Severity rate

2006 2007 2008 2009 2010 2006 2007 2008 2009 2010

Elia 8.0 2.7 5.1 2.8 1.7 0.18 0.03 0.10 0.14 0.02

Headquarters 2.6 0.0 2.7 0.0 0 0.05 0.0 0.03 0.0 0

Service Area North 14.6 2.8 5.8 5.8 0 0.26 0.02 0.12 0.02 0

Service Area South 17.5 11.3 14.2 8.7 8.4 0.53 0.15 0.35 0.71 0.07

Engineering 3.3 0.0 0.0 0.13 0 0.01 0.0 0.0 0.0 0


Energy balance The consumption indicator1 for the Elia control area grew by 5.84%, from 81.8 TWh in 2009 to 86.6 TWh in 2010.

The monthly values recorded in 2010 were up on the corresponding months of 2009, but were down from the corresponding months of 2008 up to October 2010 inclusive.

In 2010 as a whole, consumption was 13.3% up on 2009 in the case of industrial customers connected directly to the Elia grid, and 1.8% up in the case of industrial, business and residential customers of the distribu-tion system operators.

However, it was still 1% lower than in 2008. Updated value - June 2011


1 The Elia consumption indicator covers most of electricity consumption in Belgium. It includes all the generation facilities connected to the Elia grid plus the net import-export balance. The share of consumption supplied directly by generation units connected to the distribution systems is not included in the indicator.

France: 3,167.0

Luxembourg: 1,845.8

Netherlands: 7,382.7

Imports

Net imports 551.7

Net generation

Exports

Consumption*

Generation: 76,545.2

Local generation: 9,068.9

Injection by DSOs: 697.0

Total 86,311.2

France: 5,409.0

Luxembourg: 1,121.5

Netherlands: 5,313.3

Direct customers: 29,176.7

Distribution: 56,110.8

Total: 85,287.4

Energy losses: 1,575.4

Year: 2010

(All values in GWh)


* Consumption on the Elia grid, including the consumption from local generation facilities.

Changes in monthly consumption

The maximum rate of consumption on the Elia grid in 2010 was 13,845 MW, according to the value record-ed on 1 December 2010 between 5.45 p.m. and 6 p.m. This is 1.4% below the all-time record, set on 17 December 2007 (14,040 MW), but is 2.3% above the maximum value recorded in 2009 (13,531 MW, dat-ing from 8 January 2009).

The lowest rate of consumption (6,278 MW) was recorded on 25 July 2010 (between 6.15 a.m. and 6.30 a.m.). This was 6.4% above the lowest rate of consumption in 2009 (5,901 MW, recorded on 26 July 2009).


0,00

1,00

2,00

3,00

4,00

5,00

6,00

7,00

8,00

9,00

Jan Feb March April May June July Aug Sept Oct Nov Dec

Gwh/month °C

-5,00

0,00

5,00

10,00

15,00

20,00

25,00

Energy 2009 (GWh) Energy 2010 (GWh) Average temperature 2009 Average temperature 2010

Imports and exportsMonthly in 2010 / physical border flows


-2.000 -1.500 -1.000 -500 0 500 1.000 1.500

January

February

March

April

May

June

July

August

September

October

November

December

Exchanges with France Exchanges with the Netherlands Exchanges with Luxembourg

Imports Exports

ReliabilitySecurity of supply remained at a high level in 2010.

•TheaveragenumberofinterruptionsontheElia grid per consumer (Average Interruption Frequency)2 was 0.129, equivalent to one inter-ruption per customer every 7.8 years.

•Theaveragedurationofinterruptionswas37minutes 24 seconds.

•Spreadacrossallcustomers,theaveragedura-tion of interruptions was 4 minutes 51 seconds per customer (Average Interruption Time)1, equivalent to an average availability of more than 99.999%, which is higher than the average for the last decade.

Belgium thereby emerges, year on year, as one of the best countries in Europe in terms of quality of electricity supply.


In accordance with the international recommendations, the statistics relating to continuity of the electricity supply only include interruptions of more than three minutes.

1 Average Interruption Time indicates the average number of minutes of interruption time for all customers on the Elia grid.

2 Average Interruption Frequency indicates the average number of annual interruptions per customer. A number of 0.09 indicates that each customer experiences an interruption every 11 years.

Average Interruption Duration indicates the average duration of a customer interruption.


Average Interruption

Time

05:14

03:32

03:07

01:34

04:51

Average Interruption Frequency

0.130

0.090

0.080

0.091

0.129

Average Interruption

Duration

41:23

39:07

38:29

17:12

37:24

Reliability of the Elia grid

99.9990%

99.9993%

99.9994%

99.9997%

99.9991%

Number of days in the year

365

365

366

365

365

2006

2007

2008

2009

2010

Promoting RUE amongst our customers As part of its public service obligations in Flanders, Elia implements an action plan each year aimed at encouraging Rational Use of Energy (RUE) amongst its industrial customers. In this connection, Elia provides its customers with the resources required to make recurrent savings of 2.5% on their primary energy consumption for each MWh supplied, in the case of facilities connected at between 36 kV and 70 kV.

The objective set for 2010 was savings of 45.2 GWh of electric power, while sav-ings of 27.1 GWh have been made. A total of 30 projects were launched and our customers undertook to invest in some 52 energy-saving projects. Thanks to the initiatives Elia has taken amongst its industrial customers, cumulative energy savings since 2003 stood at 455 GWh at the end of December 2010, i.e. some 148,000 tonnes of CO2.


Green certificatesFederal and regional legislators have developed market mechanisms aimed at encouraging investments in facilities for generating electricity from renewable ener-gies. These include the ”green certificates” awarded to generators by the regulator, vouching for the green credentials of their electricity. Suppliers produce the certifi-cates annually in proportion to their sales, with the proportion being set by law. As a transmission system operator, Elia is required by law to purchase the certificates offered to it at a minimum price. Elia submits these certificates to the market via the power exchange Belpex. The balance between the price at which Elia purchases the certificates and the price at which they are sold on Belpex is covered by a levy on the transmission tariffs.


Sales of green energy certificates Prices and volumes


Date of sale

Green certificates (GC) in Flanders €/certificate

NumberPrice

Number

10-12-09 20-10-1017-02-06 25-10-06 02-02-07 28-09-07 29-02-08 24-10-08 12-03-09

258

672

313

663

421

981 970

2,090

363

112112

117.52118.74 117.47

110.76

109.13

50

250

450

650

850

1,050

1,250

1,450

1,650

1,850

2,050

2,250

90.0095.00100.00105.00110.00115.00120.00125.00

97

Powering a world in progress

www.elia.be

Boulevard de l’Empereur 20

B-1000 Brussels

T + 32(0)2 546 70 11

F + 32(0)2 546 70 10

[email protected]

Designed and written by the Elia Communication Department

Graphic design: www.stefandavid.be

Content editor: Jacques Vandermeiren - June 2011

FactsandFigures-EN-2010

Documents

Transcript of FactsandFigures-EN-2010