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Interim results 2016

4 Aug 2016
Merger Enexis and Endinet on schedule
Increased efficiency by connecting service areas

The integration of Endinet (Eindhoven region) within the Enexis organisation is proceeding well. The integration is a consequence of the previous exchange between Alliander and Enexis of energy grids along provincial borders. Nearly 90% of all 241 Endinet employees have found new employment, either within or outside of Enexis. The aim is that the other employees find a suitable position before the end of this year. In addition, considerable attention has been given to the ICT operation ensuing from the integration. Enexis is currently ahead of schedule for full integration on 1 January 2017. As a result of the merger, the number of Enexis customer connections has risen to over 5 million. The unbundling of the Friesland and Noordoostpolder energy grids out of Enexis is finalised.

Peter Vermaat, CEO Enexis:

“The first half year of 2016 was, to a large extent, marked by the integration of Endinet. The integration is progressing well, and 210 colleagues have found new employment, either within or outside of Enexis. Expectations are that the remaining employees also find a suitable position. In addition, during the first half of 2016, our focus was also on the safety of our employees. To date our safety policy has proven successful, and has led to a substantial reduction in the number of accidents since 2014. We remain firmly committed to raising the safety awareness of our employees.
In 2016, we have budgeted over 700 million euros for the maintenance, replacement and renewal of our grids. At the same time, the reliability of our energy grids has stayed at a consistently high level during the first half year of 2016. The outage time has stayed well below the long-term average, even though there is an increase compared to the historically low outage time of 2015. Another striking observation is that the number of smart meters offered has doubled, compared to the first half of 2015, to well over 228,000 – a rapid increase, without compromising on customer satisfaction. We also continue to encourage energy-saving efforts in our catchment area. For example, together with other market players, we have started a campaign to step up the use of smart meters. The average CO2 emissions per employee have also decreased, which is an encouraging first step towards our target, namely to halve emissions by 2020.”

Key figures
Amounts in millions of euros 
Half year 2016
Half year 2015
Capital employed  6,064.0 5,105.4 19%
Revenues  684.6 673.1 2%
Profit for the year  109.7 114.8 -4%
Work on the grid*  363.6 286.2 27%
Electricity outage time (minutes per connection)  8.2 6.1 34%
Gas outage time (seconds per connection)  19 22 -14%
Customer connections electricity and gas (x 1,000)  5,021 4,778 5%
Accident index own employees (DART rate)  0.20 0.36 -44%
Number of employees  4,421 4,331 2%

* Work package: investments and operating expenses

Increase capital employed and revenues

Capital employed has increased by 19%, to over 6 billion euros, mainly through the growth in assets as a result of the energy grids exchange. Revenues have increased by 2%, to 684.6 million euros, compared to the same period last year. The drop in revenue, caused by tariff reductions and the sale of the network in Friesland and the Noordoostpolder, has been more than compensated for by the acquisition of Endinet. Profit, on the other hand, is down by 4%, to 109.7 million euros, primarily because of higher costs incurred by the increase in staff and increased depreciations.

Reduced number of accidents

Working with gas and electricity is accompanied by considerable risks. We want every employee to arrive home safe and sound at the end of each day. In the first half of 2016, our safety awareness programme contributed to a further reduction in the number of accidents. The reduction compared to the first half of 2015 demonstrates that our programme has been successful to date. In spite of this, a total of 4 accidents resulting in absence occurred in the first half of 2016. Further improving the safety of our own employees and that of our contractors is, and will remain our highest priority.

Reliable energy grids

In the first half of 2016, Enexis customers experienced an average of just over 8 minutes of electricity outage, just below the five-year average. This is an increase compared to the same period in 2015, when the outage time was historically low. This was mainly due to 2 major faults in the medium voltage installations. The 12-month moving average outage time is 16,3 minutes. The average gas outage time for customers decreased to 19 seconds in the first half of 2016.

Acceleration of smart meter programme

In the first half of 2016, Enexis offered smart meters to 228,000 addresses (first half of 2015: 115,000 addresses). Around 90% of the offers immediately resulted in a successful installation of the meter. In the other cases, the customer was not at home, for example, there were technical reasons why the meter could not be installed, or the customer refused the meter. To encourage and support customers to make the most of their smart meter, Enexis has started the pilot, ‘Energiekanjers’. In this pilot, together with over 20 commercial parties, we are looking at how best to approach households in order to encourage them to purchase energy-saving products.

Growth in sustainability

The Buurkracht programme, set up by Enexis, has been a successful way to stimulate sustainable energy use. In this programme, neighbours work together on energy-saving initiatives. In the first half of 2016, the number of Buurkracht neighbourhoods increased to 137. The number of schools participating in the ‘Van zon krijg je Energie’ programme, in which children are taught about the energy of the future, increased to 253 in the first half of 2016.