Consolidated income statement

x € 1 million

Note

2017

2016

Revenues from energy sales and energy related activities

3

3,309

2,642

Purchases of energy and energy related activities

2,303

1,815

Gross margin

1,006

827

Other revenues

4

46

104

Gross margin and other operating revenues

1,052

931

Employee benefit expenses

5

242

211

Cost of contracted work and other external costs

374

355

Depreciation and impairment of property, plant and equipment

13

214

218

Amortisation and impairment of intangible assets

14

56

32

Other operating expenses

8

9

Operating expenses

894

825

Operating profit

158

106

Share of profit of associates and joint ventures

7

-

7

Financial income

8

7

14

Financial expenses

9

-29

-10

Profit before income tax from continuing operations

136

117

Income tax

10

-9

-14

Profit after income tax from continuing operations

127

103

Profit after income tax from discontinued operations (network activities)

11

-

89

Profit after income tax

127

192

Profit distribution:

Profit after income tax attributable to non-controlling interests

-

-

Profit after income tax attributable to shareholders of Eneco Groep N.V.

127

192

Profit after income tax

127

192

Consolidated statement of comprehensive income

x € 1 million

Note

2017

2016

Profit after income tax

127

192

Adjustments for:

Unrealised gains and losses that will not be reclassified to profit or loss

Fair value adjustment for regulated networks

-

-25

Remeasurement of defined-benefit pension plans

-1

-

Unrealised gains and losses that may be reclassified to profit or loss

Exchange rate differences

-6

-14

Unrealised gains and losses on cash flow hedges

24

-28

-80

Deferred tax liabilities on cash flow hedges and hedge of net investment in foreign operations

24

6

20

Share of unrealised profit of associates and joint ventures after tax

1

-

Total other comprehensive income

-28

-99

Total comprehensive income

99

93

Profit distribution:

Non-controlling interests

-

-

Shareholders of Eneco Groep N.V.

99

93

Total comprehensive income

99

93

Consolidated balance sheet

x € 1 million

Note

At 31 December 2017

At 31 December 2016

Non-current assets

Property, plant and equipment

13

2,538

2,499

Intangible assets

14

976

282

Associates and joint ventures

16

111

60

Deferred income tax assets

17

27

5

Financial assets

- Derivative financial instruments

18

65

90

- Other financial assets

19

111

76

Total non-current assets

3,828

3,012

Current assets

Assets held for sale

20

214

12

Intangible assets and inventories

58

52

Trade receivables

21

650

500

Current income tax assets

7

3

Other receivables

22

244

996

Derivative financial instruments

18

190

155

Cash and cash equivalents

23

465

343

Total current assets

1,828

2,061

TOTAL ASSETS

5,656

5,073

Equity

Equity attributable to Eneco Groep N.V. shareholders

24

2,866

3,118

Non-controlling interests

24

3

3

Total equity

2,869

3,121

Non-current liabilities

Provisions for employee benefits

25

10

7

Other provisions

26

94

72

Deferred income tax liabilities

17

306

187

Derivative financial instruments

18

45

56

Interest-bearing debt

27

453

388

Other liabilities

28

117

110

Total non-current liabilities

1,025

820

Current liabilities

Liabilities held for sale

20

9

9

Provisions for employee benefits

25

7

6

Other provisions

26

7

7

Derivative financial instruments

18

181

129

Interest-bearing debt

27

282

27

Current income tax liabilities

52

-

Trade and other liabilities

28

1,224

954

Total current liabilities

1,762

1,132

TOTAL EQUITY AND LIABILITIES

5,656

5,073

Consolidated cash flow statement

x € 1 million

Note

2017

2016

Profit after income tax

127

192

Adjusted for:

- Financial income and expense recognised in profit or loss

8.9

22

-1

- Income tax recognised in profit or loss

10

9

39

- Share of profit of associates and joint ventures

-

-7

- Depreciation, amortisation and impairment

13.14

270

362

- Result from sale of tangible and intangible assets

2

7

- Movement in working capital

35

288

-113

- Movements in provisions, derivative financial instruments and other

35

-154

Cash flow from business operations

753

325

Dividend received from associates and joint ventures

4

8

Interest paid

-17

-10

Interest received

4

-

Income tax paid / received

-8

-30

Cash flow from operating activities

736

293

Issued loans granted

-8

-25

Repayment of loans granted

2

-

Acquisition of subsidiaries (net)

-459

-24

Disposal of subsidiaries (net)

2

-

Acquisition of joint operations, joint ventures and associates

16

-32

-1

Disposal of joint operations, joint ventures and associates

16

-

-

Investments in property, plant and equipment

13

-142

-298

Disposal of property, plant and equipment

13

3

9

Investments in intangible assets

14

-14

-6

Cash flow from investing activities

-648

-345

Dividend payments

-

-

Repayment of non-current interest-bearing debt

27

-52

-34

Aflossing kortlopende rentedragende schulden

-25

Non-current interest-bearing debt issued

27

118

218

Nieuw verkregen kortlopende rentedragende schulden

25

Acquisition of non-controlling interests

-

-

Cash flow from financing activities

66

184

Movements in cash and cash equivalents

154

132

Balance of cash and cash equivalents at 1 January

23

343

211

Translation gains and losses on cash and cash equivalents of subsidiaries

-1

Balance of cash and cash equivalents of disposed consolidated entities

-31

-

Balance of cash and cash equivalents at 31 December

23

465

343

The consolidated cash flow statement for 2016 includes cash flows from discontinued operations. See the note to the consolidated cash flow statement for further information.

Consolidated statement of changes in equity

x € 1 million

Equity attributable to Eneco Groep N.V. shareholders1

Non-controlling interests

Total equity

Paid-up and calledup share capital

Share premium

Revaluation reserve

Translation reserve

Cash flow hedge reserve

Retained earnings

Undistributed profit

Total

At 1 January 2016

122

34

779

15

90

5,170

264

6,474

4

6,478

Profit after income tax 2016

-

-

-

-

-

-

192

192

-

192

Total other comprehensive

-

-

-25

-14

-60

-

-

-99

-

-99

Total comprehensive income

-

-

-25

-14

-60

-

192

93

-

93

Profit appropriation 2015

-

-

-

-

-

264

-264

-

-

-

Dividend in kind to Stedin Holding N.V.

-

-34

-

-

-

-3,415

-

-3,449

-

-3,449

Disposal of activities Network Group

-

-

-735

-

-

735

-

-

-

-

Reclassification depreciation regulated networks (after tax)

-

-

-19

-

-

19

-

-

-

-

Change in non-controlling interests

-

-

-

-

-

-

-

-1

-1

Total transactions with (former) owners of the company

-

-754

-

-

-2,397

-264

-3,449

-1

-3,450

At 31 December 2016

122

-

-

1

30

2,773

192

3,118

3

3,121

Profit after income tax 2017

-

-

-

-

-

-

127

127

-

127

Total other comprehensive

-

-

-

-7

-20

-1

-

-28

-

-28

Total comprehensive income

-

-

-

-7

-20

-1

127

99

-

99

Profit appropriation 2016

-

-

-

-

-

192

-192

-

-

-

Cash dividend to Stedin Holding N.V.

-

-

-

-

-

-351

-

-351

-

-351

Contribution N.V. Eneco Beheer at 30 Januari 2017

-122

2,781

-

-

-

-2,613

-46

-

-

-

Total transactions with current and former owners of the company

-122

2,781

-

-

-

-2,772

-238

-351

-

-351

At 31 December 2017

-

2,781

-

-6

10

-

81

2,866

3

2,869

  1. See note 24’ Equity’ for further information on equity and in particular the line ‘Contribution of N.V. Eneco Beheer at 30 January 2017’.
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