Operating revenue of Fluxys Belgium up
BAKU, Azerbaijan, Sept.24
By Leman Zeynalova – Trend:
Operating revenue of Fluxys Belgium for the first half of 2020 amounted to € 284.181 thousand, compared with € 260.041 thousand for the first half of 2019, an increase of € 24.140 thousand, Trend reports with reference to the company.
“Revenue from regulated activities amounted to € 275.761 thousand (or 97 percent of total revenue), which represents an increase of € 21.830 thousand compared with the same period in 2019. Total revenue increased for all three regulated activities. As foreseen in the tariff proposal, the invoiced tariffs declined for transmission activities, but the resulting decrease was more than compensated by a higher use of the regulatory liabilities, so that the total revenue from this activity increased,” the company said in its report.
For the terminalling activities the realised sales increased significantly thanks to the commissioning of the 5th tank in Zeebrugge, the company said.
“The evolution of miscellaneous goods and services in the first half of 2020 can be explained by higher costs for IT, studies and maintenance and by the donations of € 500 thousand made by Fluxys in the COVID-19 context. The depreciations increased from € 78.360 thousand in the first half-year to € 86.910 thousand in 2020, mainly because of the commissioning of the 5th tank in Zeebrugge in December 2019. The impairment losses that amount to € 2.748 thousand relate to the valuation of the gas inventory following a decline of the gas market prices. This cost is neutral for the net result. Finance costs increase from € 18.305 thousand to € 20.272 thousand. This increase can essentially be explained by the commissioning of the 5th tank in Zeebrugge (during construction, the interests on financing for this investment were activated).”
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