Publications and presentations 2003
Annual Report
Operating Profit up 53% to €536 million
Highlights:
- Operating Profit +53% to €536 million (incl. €87 million of Reliant)
- Net turnover increases 17% to €5.1 billion
- Net Profit up 55% to €236 million
- Cash flow from operational activities more than doubles to €899 million
- Operating expenses excluding Reliant fall 8% to €1.2 billion
- Investments in grid rise 34% to €187 million
- Solvency now 42% (2002: 44%) due to acquisition of Reliant
- Dividend 82% higher to €96 million; pay-out ratio increased to 40%
- Number of renewable energy customers grows 41% to 650,000