Key figures

€ million, unless stated otherwise

Full-year 2018

Full-year 2017

Financial

Revenue 1,920 1,697
Other income1 148 43
Operating expenses 1,572 1,535
Operating profit 496 305
Profit after tax 334 203
Operating profit excluding incidental items and fair value movements 394 309
Profit after tax excluding incidental items and fair value movements  261 206
Investment in property, plant and equipment 731 666
Cash flow from operating activities 638 454
  31-12-2018 31-12-2017
Total assets 8,345 8,069
Total equity 4,129 3,942
Net debt 2 1,907 1,888

€ million, unless stated otherwise                                           

Full-year 2018

Full-year 2017

Ratios

ROIC 3 4.6% 4.6%
FFO / net debt 4 32.2% 27.4%
Interest cover 5 12.9 10.2
Net debt / (net debt + equity) 33.8% 34.4%
Solvency 6 57.3% 56.7%

€ million, unless stated otherwise                                           

Full-year 2018

Full-year 2017

Employees

Number of staff (in FTE) 5,712 5,719

Customers

Customer convenience, consumer market (Net Effort Score)
50% 47%
Customer convenience, business market (Net Effort Score)
38% 39%
Electricity outage duration (in minutes) 7 30.6 20.9

Footnotes

  1. The implementation of IFRS 15 with effect from 1 January 2018 means that the connection contribution amortisation amounts have been reclassified as revenue rather than other income. The comparative figures for 2017 have been restated.
  2. Net debt is defined as interest-bearing debt less interest-bearing receivables, cash and cash equivalents and investments that are not restricted.
  3. Return on invested capital (ROIC) is defined as the 12-month operating profit adjusted for incidental items and fair value movements, profit after tax from associates and joint ventures and tax, as a percentage of average invested capital (= the sum of the carrying amounts of intangible assets, financial assets, property, plant and equipment and working capital less deferred income).
  4. The funds from operations (FFO)/net debt ratio is the 12-month profit after tax adjusted for deferred tax movements and incidental items and fair value movements plus depreciation of property, plant and equipment and amortisation of intangible assets and accrued income, as a percentage of net debt.
  5. The interest cover ratio is the 12-month profit after tax adjusted for deferred tax asset movements and incidental items and fair value movements plus depreciation of property, plant and equipment and amortisation of intangible assets plus net finance income and expense divided by net finance income and expense adjusted for incidental items and fair value movements.
  6. The solvency ratio is obtained by dividing total equity including the profit for the period less the expected dividend distribution for the current year by total assets less deferred income.
  7. The figure for electricity outage duration differs from the figure stated in the regulatory report because interruptions in the high-voltage network (CBL assets) owned by Alliander are taken into consideration in the regulatory report.