Long-term financial liabilities
The long-term financial liabilities amounted to € 477 million as at year-end 2023 (2022: € 581 million). In regards to purchasing, Enexis has concluded framework agreements with suppliers, with the expected purchase of materials and services in 2024 being estimated at approximately € 1.4 billion.
|
2023 |
2022 |
|||||
|
€ Million |
< 1 year |
1-5 year |
> 5 year |
< 1 year |
1-5 year |
> 5 year |
|
Service agreements |
16 |
0 |
0 |
14 |
0 |
0 |
|
IT |
35 |
47 |
7 |
36 |
51 |
10 |
|
Grid loss1 |
140 |
176 |
21 |
317 |
142 |
0 |
|
Investment and financing obligation2 |
30 |
5 |
0 |
7 |
4 |
0 |
|
Total |
221 |
228 |
28 |
374 |
197 |
10 |
- 1In 2021, Enexis had already purchased the majority of the required amount of gas en electricity grid losses for the entire current regulatory period. At the end of 2023, the forecasted amount for 2024 was a 100% covered. The forecasted amount in the years 2025 and 2026 has been purchased for more than 71% for electricity and more than 89% for gas, respectively.
- 2The short-term investment and financing obligation includes an obligation regarding the signed purchase agreement for the delivery of the head office building in 's-Hertogenbosch. Delivery will take place in July 2024, until then the current rental agreement applies. Enexis has already paid a deposit in 2023, the remainder of the purchase price will be paid in 2024. The present value of the purchase price is € 20 million.
Legal proceedings and disputes
Enexis Holding N.V. and its group companies were involved in various legal proceedings and disputes at year-end 2023. Based on the financial risk, provisions have been made or liabilities have been included in the financial statements with respect to the claims received.
Guarantees issued
Enexis Holding N.V. has issued guarantees to third parties through its group companies Enexis Netbeheer B.V., Enexis Personeel B.V., Enexis Vastgoed B.V. and Enpuls B.V. for a total of € 6 million (2022: € 6 million).
At the time of the sale of Fudura B.V. in the third quarter of 2022, guarantees were issued to the buyer Lion Bidco B.V. This concerns title guarantees, tax guarantees and warranties that arose in the period prior to the sale. The liability in connection with these guarantees is limited to a maximum period of seven years after the transaction date. A potential breach of the guarantees is insured therefore Enexis's maximum liability in the event of a breach of the guarantees is nil.
Guarantees were issued to SPIE at the time of Ziut’s sale in 2017. This concerns title guarantees, taxation-related guarantees, and securities that were issued in the period prior to the sale, whereby liability is limited to a maximum period of 7 years after the transaction date and where threshold amounts were also agreed.