BAKU, Azerbaijan, October 1. The Fluxys Belgium group reported a revenue of €296.7 million for the first half of 2024, marking a €12.6 million decrease from the €309.3 million recorded during the same period last year, Trend reports via the company.
Despite the dip in revenue, net profit rose from €34.5 million to €40.6 million, driven by the introduction of a new tariff methodology. The adjustment in regulated revenue is primarily attributed to changes in the components covered under the updated tariff structure, which governs the regulatory period from 2024 to 2027. The methodology ensures that reasonable operating costs are reflected in the revenue.
During the first half of 2024, the group's investments in property, plant, and equipment amounted to €37.1 million, significantly lower than the €70.3 million invested in the same period of 2023. Of this, €33.8 million was directed toward transmission projects, while €2.5 million was allocated to terminalling initiatives.
Under the 2024-2027 tariff methodology, net profit from Belgian regulated activities is determined by a range of regulatory parameters, including the equity invested, financial structure, and various incentives. The recurring dividend is expected to evolve in line with these factors.
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