€ million, unless stated otherwise Full-year 2020 Full-year 2019
Financial
Revenue 2,009 1,930
Other income 26 40
Operating expenses 1,736 1,591
Operating profit 319 379
Profit after tax 224 253
Operating profit excluding incidental items and fair value movements 338 402
Profit after tax excluding incidental items and fair value movements 221 267
Investment in property, plant and equipment 890 834
Cash flow from operating activities 634 638

 

31-12-2020 31-12-2019
Total assets 9,422 8,791
Total equity 4,328 4,224
Net debt1 2,507 2,223

 

€ million, unless stated otherwise Full-year 2020 Full-year 2019
Ratios
FFO / net debt2 24.1% 29.0%
Interest cover3 14,2 13,3
Net debt / (net debt + equity) 38.7% 36.5%
Solvency4 53.1% 55.6%

 

Full-year 2020 Full-year 2019
Employees
Number of permanent staff (in FTE) 5,881 5,703
Customers
Customer convenience, consumer market (Net Effort Score) 54% 55%
Customer convenience, business market (Net Effort Score) 35% 33%
Electricity outage duration (in minutes)5 23,2 21,9

Footnotes

  1. Net debt is defined as interest-bearing debt less interest-bearing receivables, cash and cash equivalents and investments that are not restricted.
  2. 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.
  3. 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.
  4. 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.
  5. 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 not taken into consideration in the regulatory report.