BAKU, Azerbaijan, Sept.30
By Leman Zeynalova - Trend:
The Fluxys Belgium Group generated turnover of €277.9 million in the first half of 2021, Trend reports with reference to the company.
This represents a decrease of €6.3 million compared with the same period in 2020, when turnover totalled €284.2 million.
Net profit rose from €36.6 million to €38.3 million.
The change in regulated turnover and net profit is mainly due to the evolution of the different components to be covered by the regulated tariffs. This evolution is in line with the tariff proposal and complies with the tariff methodology for 2020-2023.
In the first half of 2021, Fluxys Belgium and its subsidiaries have invested for k€ 15,825 in property, plant and equipment, compared to k€ 17,104 over the same period of 2020. k€ 4,217 of these investments were allocated to LNG infrastructure and k€ 11,519 to gas transport projects.
The finance costs decreased from € 20,272 thousand to € 19,179 thousand, as a consequence of the reduced debt level. The income tax expenses decrease by € 1,439 thousand. In the second semester 2020, based on a tax ruling, Fluxys Belgium SA obtained tax deductibility for revenues from innovation. The positive impact amounted to € 1,4 million in the first semester 2021.
“Note that this tax advantage is integrated in the regulated tariffs. The net result of the first semester 2021 amounted to € 38,319 thousand compared to € 36,580 thousand for the first semester 2020, or an increase of € 1,739 thousand.”
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