Annual reports
Eneco is a leader in the energy transition. We are implementing our One Planet Plan by helping our customers to become more sustainable, generating more renewable energy, and focusing on balancing and optimising the energy system. We operate in the Netherlands, Belgium, Germany, and the United Kingdom.
Introduction
Towards sustainable energy for all
We spent the last financial year again working hard to supply our customers with affordable, reliable and sustainable energy. Our continued efforts to develop sustainable production will make the country’s energy system less dependent on fossil fuels from abroad, and also less vulnerable.
Outlined results
1. These key figures cover the reporting period from 1 January to 31 December 2023, to reduce the need for estimates and to allow for better reconciliation with the mandatory reports.
2. In 2035, approx. 0,9 Mtons of CO2 emissions will be neutralised.
3. All figures marked “12m Mar 2023” are unaudited pro forma figures.
4. An amount of €16 million was reclassified from cash flows from operating activities to cash flows from financing activities.
5. The Interest Coverage Rate is the operating result (EBIT) divided by the financial expense.
6. The ROACE for the reporting period reflects how (EBIT plus income from JVs and associates, less corporate income tax) relates to the average of (fixed assets plus adjusted net working capital, less non-interestbearing long-term debt at the balance sheet dates).
7. These ratios have been measured and compared over a period of 12 months.
2. In 2035, approx. 0,9 Mtons of CO2 emissions will be neutralised.
3. All figures marked “12m Mar 2023” are unaudited pro forma figures.
4. An amount of €16 million was reclassified from cash flows from operating activities to cash flows from financing activities.
5. The Interest Coverage Rate is the operating result (EBIT) divided by the financial expense.
6. The ROACE for the reporting period reflects how (EBIT plus income from JVs and associates, less corporate income tax) relates to the average of (fixed assets plus adjusted net working capital, less non-interestbearing long-term debt at the balance sheet dates).
7. These ratios have been measured and compared over a period of 12 months.
All annual reports
Themes
Strategy and value
Eneco's ambition is to become climate neutral by 2035 to help limit global warming to less than 1.5 degrees Celsius. This ambition is central to our One Planet Plan. To achieve this, we help our customers become more sustainable, produce more sustainable energy and work hard on balancing and optimizing the energy system, based on our values 'Drive the change', 'Deliver the plan' and 'Make each other successful'.
Operating results
Although prices were still higher than before the crisis, the market stabilized in 2023. However, our customers still felt the effects of the volatility in 2022 during the current financial year. We made good progress in our strategic domains of Assets and Integration, we lowered prices for our customers, we made improvements and we entered into exciting new partnerships.
One Planet results
Eneco's goal is to live within the boundaries of what the planet can support. Eneco wants to be climate neutral by 2035, and our One Planet Plan gives shape to this. We measure our climate goal using the Value Chain Carbon Footprint (VCCF). It covers the emissions of our entire supply chain.
Financial results
After extending the financial year in 2022 to align with Mitsubishi Corporation's financial year, as our largest shareholder, the current report once again shows the financial results for a 12-month period. The 2023 financial year ran from 1 April 2023 to 31 March 2024.
ESG
Each year we identify, with input from our stakeholders, which material topics are of particular importance to Eneco (see the appendix for details on how this process works). From this year, our reporting on our activities and progress relating to these material topics will be divided into Environmental, Social and Governance.
Employee vitality
Our goal is to attract, develop and retain talent with passion. We also want to create a culture that helps us achieve this. Our values 'Drive the change', 'Deliver the plan' and 'Make each other successful' form the basis of our mindset and behavior. During the financial year we worked on our diversity and inclusion (D&I) ambitions, we introduced the new performance process Perform & Grow and we measured our Employee Net Promoter Score (eNPS).