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Consolidated key figures

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Group financial data (eur million)      
  2010 2009 2008
Revenue 7,326.0 543.4 460.3
Operating profit 159.8 134.5 80.9
Profit after tax allocated to shareholder 76.2 72.1 50.7
Tangible fixed assets 4,120.7 2,417.7 1,470.0
Equity 1,300.1 727.6 665.4
Balance sheet total 7,054.4 3,570.0 2,886.4
Group ratios        
  note 2010 2009 2008
Solvency ratio 1) 28.7% 30.1% 46.1%
Return on average equity 2) 7.6% 10.5% 8.0%
FFO/average debt 3) 20.8% 19.3% 23.5%
Interest coverage ratio 4) 2.4 3.9 5.5
Technical data          
  Note   2010 2009 2008
Circuit lengths (in kilometres)   D NL NL NL
450 kV DC 5) n.a. 290 290 290
380 kV   5,744 2,088 2,033 2,032
220 kV   4,844 670 653 653
150 kV 6) n.a. 3,987 4,089 3,761
110 kV 6) 164 2,084 1,944 1,955
Total circuit length (in kilometres)   10,752 9,119 9,009 8,691
           
Substations   D  NL      NL  NL
380 kV   61 23 22 21
220 kV   54 12 12 12
150 kV 6) n.a. 148 147 134
110 kV 6) 5 99 98 79
Total amount of substations   120 282 279 246
           
Other technical data    D NL  NL  NL 
Imports (GWh)   46,808 18,583 15,455 24,967
Exports (GWh)   40,691 12,808 10,563 9,116
220/380 kV grid data:          
• No. of failures 7) 10) 189 12 7 13
• Of which resulted in an interruption   1 4 - 1
• Energy not supplied (MWh) 8) 0.8 53 - 357
110/150 kV grid data:          
• No. of failures 7) 9) n.a. 38 54 27
• Of which resulted in an interruption 9) n.a. 10 16 6
• Energy not supplied (MWh) 8) 9) n.a. 879 1,043 88

 

  1. Solvency ratio = (Equity / (Total equity and liabilities -/- Assets not at TenneT Holding B.V.’s free disposal -/- Investment contributions long-term -/- Investment contributions short-term))*100%
  2. Return on average equity = (Profit after tax / ((Equity 2010 +/+ Equity 2009)/2))*100%
  3. FFO/average debt = ((Profit after tax +/+ Depreciation and amortisation of assets +/+ Impairments 220/380 kV grid +/+ Reversal impairment NorNed +/+ Change in provisions according to the cash flow statement) / (((Current interest-bearing debt 2010 +/+ Non-current interest-bearing debt 2010 -/- Cash and cash equivalents 2010) +/+ (Current interest-bearing debt 2009 +/+ Non-current interest-bearing debt 2009 -/- Cash and cash equivalents 2009))/2))*100%
  4. Interest coverage ratio = Operating profit / Finance expenses loans and credit facilities
  5. This concerns the HVDC connection from Eemshaven (Netherlands) to Feda (Norway). The total length of this cable link is 580 km; 290 km is owned by TenneT and the other 290 km is owned by the Norwegian TSO Statnett.
  6. Since 2008, TenneT has been in charge of managing the 110 kV and 150 kV grids of the former grid operators Enexis, Liander and DNWB, with the exception of areas covered by cross-border leases (CBL areas). TenneT obtained ownership of these 110 kV and 150 kV grids in 2009. The management of Alliander’s Randmeren CBL area was also transferred to TenneT in 2009. The difference in circuit length of the 110 kV and 150 kV grids is the result of higher data quality.
  7. These failures did not always result in an interruption of the electricity supply. This also applies to the interconnector.
  8. Includes all energy not supplied as a result of interruptions in the transmission of electricity to connections, irrespective of the connection’s redundancy and regardless of whether the connected party is a producer (generation) or customer (load).
  9. The increased 2009 number of failures and interruptions is explained by the increase in the total circuit length and the greater number of substations managed by TenneT.
  10. Different definitions apply to the Dutch and German figures; therefore, they cannot be compared. The Dutch failures refer solely to the failures in our own grid. In Germany, the failures in the production grid are included in the figures as well.

Source: Annual report 2010, Consolidated key figures, page 6

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Letter from the CEO

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