despite Covid and warm weather
Strong results for Eneco
2020, the warmest year ever recorded in Europe, was marked by the unprecedented impact of Covid-19.
EBITDA increased to €484 million and net profit to €118 million, increases of 13% and 48% compared to 2019. Total investments, excluding mergers and acquisitions, amounted to €385 million. The customer base was expanded to 5.9 million contracts.
In 2020, our renewable capacity increased by 202 MW.
Consolidated balance sheet
Per € million, April 6th 2021
| x €1 million | At 31 December 2020 | At 31 December 2019 |
|---|---|---|
| Non-current assets | ||
| Property, plant and equipment | ||
| Owned assets1 | 2,769 | 2,626 |
| Right-of-use assets1 | 235 | 247 |
| Intangible assets | 1,155 | 1,045 |
| Associates and joint ventures | 109 | 111 |
| Deferred income tax assets | 20 | 30 |
| Financial assets | ||
| - Derivative financial instruments2 | 85 | 65 |
| - Other financial assets | 97 | 114 |
| Total non-current assets | 4,470 | 4,238 |
| Current assets | At 31 December 2020 | At 31 December 2019 |
|---|---|---|
| Assets held for sale | 13 | 1 |
| Intangible assets and inventories | 153 | 158 |
| Trade receivables | 658 | 655 |
| Current income tax assets | 19 | 6 |
| Other receivables | 155 | 162 |
| Derivative financial instruments2 | 256 | 286 |
| Cash and cash equivalents | 557 | 537 |
| Total current assets | 1,811 | 1,805 |
Total assets |
6,281 |
6,043 |
| Equity | At 31 December 2020 | At 31 December 2019 |
|---|---|---|
| Equity attributable to Eneco Groep N.V. shareholders | 2,942 | 2,932 |
| Non-controlling interests | 6 | 5 |
| Total equity | 2,948 | 2,937 |
| Non-current liabilities | At 31 December 2020 | At 31 December 2019 |
|---|---|---|
| Provisions for employee benefits | 7 | 8 |
| Other provisions | 140 | 140 |
| Deferred income tax liabilities | 248 | 251 |
| Derivative financial instruments2 | 146 | 85 |
| Lease liabilities3 | 203 | 215 |
| Interest-bearing debt3 | 567 | 457 |
| Other liabilities | 167 | 148 |
| Total non-current liabilities | 1,478 | 1,304 |
| Current liabilities | At 31 December 2020 | At 31 December 2019 |
|---|---|---|
| Liabilities held for sale | 2 | 1 |
| Provisions for employee benefits | 5 | 7 |
| Other provisions | 2 | 2 |
| Derivative financial instruments2 | 284 | 276 |
| Lease liabilities3 | 26 | 26 |
| Interest-bearing debt3 | 32 | 69 |
| Current income tax liabilities | 16 | 4 |
| Trade creditors and other payables | 1,488 | 1,417 |
| Total current liabilities | 1,855 | 1,802 |
Total equity and liabilities |
6,281 |
6,043 |
- 2019 amounts restated for comparative purposes following a reclassification of a financial lease for an amount of €35 million.
- 2019 amounts restated for comparative purposes following an enhancement in offsetting these financial assets and liabilities for a total amount of €75 million (non-current and current).
- 2019 amounts restated for comparative purposes following a reclassification of a financial lease for a total amount of €25 million (non- current and current).
Annual reports
Half-year reports
Credit Ratings
Corporate Rating
| Description | Rating |
|---|---|
| Credit rating N.V. Eneco Beheer | A- stable outlook |
S&P statements
| March 31, 2020 (N.V. Eneco Beheer) | S&P report - RatingsDirect |
| December 4, 2019 (N.V. Eneco Beheer) | S&P report - RatingsDirect |
| October 1, 2019 (N.V. Eneco Beheer) | S&P report - RatingsDirect |
| September 17, 2018 (N.V. Eneco Beheer) | S&P report - RatingsDirect |
| August 2, 2017 (N.V. Eneco Beheer) | S&P report - RatingsDirect |
| November 24, 2016 (Eneco Beheer) | S&P report - RatingsDirect |
Euro Commercial Paper Programme (ECP)
A Euro Commercial Paper Programme (ECP) is a standardized issuance platform for short-term debt instruments in the public and private market. The paper is unsecured and unsubordinated.
| Issuer: | N.V. Eneco Beheer |
| Arranger: | ING Bank N.V. |
| Amount: | EUR 750.000.000 |
| Dealers: | ABN AMRO Bank N.V. Barclays Bank Plc BNP Paribas Citibank Europe Plc, UK Branch Coöperatieve Rabobank U.A. ING Bank N.V. Natwest Markets |
| Ranking: | Senior Unsecured Notes |
| Rating: | A-2 |
| Issue and Paying Agent: | Citibank, N.A., London Branch |
| STEP Label: | STEP identifier #0003050 |