Elia Group (ELI) Q3 2024 earnings summary

Executive summary

• Investment plans advancing in Belgium and Germany, supporting energy transition and grid reliability.

• Major infrastructure projects underway, including Brabo III, LanWin3, and Princess Elisabeth Island.

• Upward revision of 2024 net profit outlook to the upper end of €355–395 million, with adjusted ROE at 7–8%.

Financial highlights

• 2024 net profit expected at the upper end of €355–395 million; adjusted ROE at 7–8%.

• Belgium net profit guidance at midpoint of €200–220 million; Germany at upper end of €260–290 million.

• Group investment target for 2024 is €4.7 billion, with €1.1 billion in Belgium and €3.6 billion in Germany.

• Non-regulated segment and Nemo Link expected to report a lower loss of around -€25 million.

Outlook and guidance

• 2024 outlook revised upward for net profit and ROE, reflecting strong operational progress.

• Guidance excludes potential M&A transactions.

• Update on 2025–2029 capex plan to be provided with FY 2024 results.