BAKU, Azerbaijan, Apr.1
By Leman Zeynalova - Trend:
The Fluxys Belgium group generated consolidated turnover of €560.6 million in 2020, Trend reports citing the company.
This represents an increase of €29.6 million compared with 2019, when turnover stood at €531.0 million. Consolidated net profit rose from €69.5 million in 2019 to €73.2 million in 2020, an increase of €3.7 million. The increase in turnover and net profit is mainly due to the commissioning of the fifth storage tank for transshipment services in Zeebrugge in late 2019 and is in accordance with the tariff methodology and the associated terms on authorised manageable costs and incentives for the period 2020-2023.
Fluxys Belgium SA/NV's net profits totalled €70.8 million, compared with €42.5 million in 2019. This increase compared to the previous financial year is due in part to the commissioning of the fifth storage tank at the LNG terminal operated by subsidiary Fluxys LNG.
At the Annual General Meeting on 11 May 2021, Fluxys Belgium will propose a gross dividend of €1.37 per share. Taking into account a profit of €53.6 million carried over from the previous financial year and a withdrawal of €38.7 million from the reserves, the Board of Directors will propose to the Annual General Meeting that the profits be allocated as follows: 1) €96.3 million as a dividend payout; 2) €66.8 million as profit to be carried forward. If that profit allocation proposal is adopted, the total gross dividend for the 2020 financial year will be €1.37 per share. This amount will be payable from 19 May 2021 onwards.
The company does not anticipate for 2021 any significant impact due to the COVID-19 pandemic and the resulting market developments on the consolidated result of the Fluxys Belgium Group.
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