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Elia Group NV/SA — Earnings Release 2012
May 15, 2012
3945_ir_2012-05-15_80f95f78-d259-4772-94d4-2106f217e3e5.pdf
Earnings Release
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Keizerslaan 20 Tel.: +32 (0)2 546 70 11 Boulevard de l'Empereur, 20 Fax: +32 (0)2 546 70 10 B-1000 Brussels
PRESS RELEASE 15 May 2012
Interim statement Q1 2012
- Elia joins the BEL 20 index and reiterates its confidence in the 2012 financial results.
- General Meeting of shareholders approved a gross dividend of €1.47 per share, to be paid out on 30 May 2012.
- Clarification of German regulation with positive consequences for the Group.
- Wind power generation in Belgium and actual energy flows within the 50Hertz system are published on the Internet on a daily basis.
- Green light for the construction of the Vieselbach–Altenfeld section of the South-West Interconnector.
- ENTSO-E announces its 2012 TYNDP package.
Financial forecasts
The use of the transmission system in Belgium and Germany is largely as forecast. Investments and maintenance work by Elia Transmission (Belgium) and 50Hertz Transmission (Germany) for the first quarter of the year are in line with the planning.
As reported in the 2011 annual results, Elia is unable to give any concrete profit forecasts since the annual result depends upon parameters that will either not be known until the end of 2012 (such as the inflation figure for December 2012) or else can only be calculated at that time (e.g. average Belgian ten-year interest rate; the beta of Elia shares; total investments by Eurogrid/50Hertz). On the other hand, a number of major, positive changes have entered into force in 2012 within the German regulatory framework, such as the switch to now paying fair remuneration in the year of investment (instead of 2 years later, as in the past), allowing offshore investments to be depreciated over 20 (instead of 40 years previously), and enabling the regulator and federal government to enforce permits for grid expansions that are of national and European importance.
The General Meeting of Shareholders on 15 May approved the gross dividend for 2011 of €1.47 per share. The dividend for the financial year 2011 will be paid out on 30 May 2012 (the date of detachment of the coupon is 25 May, before opening of the stock exchange) in exchange for coupon 8, with or without strip VVPR 8. Payment will be made at Belgian branches of Belfius, BNP-Paribas-Fortis, KBC-CBC and ING. ING is also the central payment agent.
Elia to join the BEL 20 index
On 27 February, NYSE Euronext Brussels announced that Elia System Operator (Elia) was to be included in the BEL 20 index. The change took place on 19 March. Joining the BEL 20 index confirms the importance of the Elia Group's role and mission in supporting and implementing European policies on energy and the climate. Being part of the BEL 20 will boost the visibility of the Elia group even more and help provide it with the resources it needs to continue its strategy and growth based on the development in Europe of high-performance grids interconnecting offshore and onshore generation and demand.
Elia publishes wind power generation forecasts
On 23 February, Elia launched a new application on its website for wind energy data forecasts on a 7-daybasis. Depending on which filters are chosen, the tool allows to view a real-time estimate on a quarterhourly basis, or to focus on offshore or onshore generation data only. Elia makes these forecasts compared to actual wind power generation in Belgium available to market players, who by closely monitoring the quality of forecasts can then improve the balancing of their 'near real-time' generation/consumption portfolio, as well as improving their long- and short-term load and power demand forecasts (and associate price fluctuations).
This information is freely available at http://www.elia.be/en/grid-data/power-generation/wind-power.
Publication of load flow data on the 50Hertz website
On 16 April, 50Hertz began publishing load flow data for its entire grid on the German version of its website at www.50hertzcom/lastflussdaten. Accordingly, any stakeholder can look up the load situation on one or more high-voltage lines for the previous day or days before that. Anyone going to the 50Hertz website will find an up-to-date grid map indicating all lines and connections to other very-high-voltage networks. The situation on the grid is listed for every hour of the day. In addition users can find out about the situation at any given moment and also download data relating to a specific moment in time. Lines are colour-coded to indicate their specific load situation. Clicking on a specific line displays the value in megawatts (MW) of the electricity being transmitted.
50Hertz receives planning permit for the Vieselbach–Altenfeld section of the South-West Interconnector
On 2 March, 50Hertz welcomed the completion of the planning approval process by the federal state of Thuringia's Administrative Office for the second section of the South-West Interconnector between Vieselbach and Altenfeld. This favourable decision constitutes a milestone for the implementation of the European priority Halle/Saale–Schweinfurt interconnector project. The South-West Interconnector plays a crucial role in the integration of renewable energy, especially with respect to the transmission of renewable electricity generated in the northeast of Germany to consumption centres in the southwest. The solution that emerged after numerous suggestions from the public, citizens' initiatives and mayors meets local interests whilst at the same time taking account of the restructuring of the energy supply and the network's expansion and also yielding benefits to society as a whole.
ENTSO-E publishes f TYNDP 2012 for consultation
As planned, the European Network of Transmission System Operators for Electricity (ENTSO-E) is holding a public consultation on its Ten-Year Network Development Plan (TYNDP) 2012 package. Studies show that over the next 10 years the EU TSOs will invest €104 billion transmission capacity, or a growth of 1,3% a year of the grid with a very small impact on the electricity bill (less than 1%). The report points out that 80 of the identified 100 bottlenecks are related to the direct or indirect integration of renewable energy sources such as wind and solar power. More than 100 pan-European projects are identified that underpin the bases of EU energy policy: market integration, the integration of renewable energy sources and security of supply. In addition, the report notes that these projects are fully implemented, renewable energy sources could geberale up to 38% of the demand by 2020, CO2 emissions could be reduced by 170 megatons and the generation cost could be reduced by as much as 5%.
Financial calendar
Trading of ex-coupon number 8 25 May 2012 Payment of dividend for 2011 30 May 2012 Publication of half-yearly results 2012 30 August 2012 Update Q3 2012 15 November 2012
About Elia:
Elia is the Belgian transmission system operator, transmitting electricity efficiently, reliably and securely from producers to distribution system operators and major industrial users. Elia is responsible for importing and exporting electricity from and to neighbouring countries. Elia owns the entire Belgian very high voltage grid (150 to 380 kV) and some 94% (ownership and user rights) of the Belgian high-voltage grid (30 to 70 kV). The Elia grid comprises 5,608 km of overhead lines and 2,775 km of underground connections and is a key link between electricity markets in northern and southern Europe. It also links Belgian producers and consumers. Belgium's recent investment in interconnection capacity with its neighbours makes it one of the most open and interconnected grids in Europe. In 2010 Elia expanded its activities in Europe and, following its acquisition of German TSO 50Hertz and in cooperation with Industry Funds Management (IFM), is now one of the top five transmission system operators in Europe.
For further information, please contact Elia:
| Media: | ||
|---|---|---|
| Lise Mulpas | +32 2 546 73 75 | +32 478 65 28 90 [email protected] |
| Axelle Pollet | +32 2 546 75 11 | +32 475 84 38 91 [email protected] |
| Investor relations: Bert Maes |
+32 2 546 72 39 | +32 472 40 69 97 [email protected] |
Website: This press release is available on www.elia.be.