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PRESS RELEASE
Tel.: 02 546 70 11 Fax: 02 546 70 10
13 May 2011 Interim statement Q1 2011
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Elia Group confirms its confidence in the 2011 financial results.
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General Meeting of 10 May approves gross dividend of €1.40 per share, to be paid out on 25 May 2011, and the renewal of all 14 directorships.
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King Albert II visits Elia’s National Control Centre.
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Further step towards market integration with intraday coupling between Belgium and the Netherlands.
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Chancellor Merkel opens Germany’s first offshore wind farm.
Financial forecasts As reported in the 2010 annual results, Elia is unable to give any concrete profit forecasts since the annual result is dependent upon parameters that will either not be known until the end of 2011 (such as the inflation figure for December 2011) or else can only be calculated at that time (e.g. average Belgian tenyear interest rate; the beta of Elia shares; total investment of Eurogrid/50Hertz). Elia will receive the first dividends from 50Hertz Transmission in the second half of 2011 (€60 million, of which 60% – €36 million – for Elia). Investments and large-scale maintenance works by Elia Transmission (Belgium) in 2011 are on schedule to be completed as planned. Investments by 50Hertz Transmission are currently estimated at approximately €200 million due to delays with building permits. The General Meeting of 10 May approved the gross dividend for 2010 of €1.40 per share. The dividend for financial year 2010 will be paid out on 25 May 2011 (the date of detachment of the coupon is 20 May before opening of the Stock Exchange) in exchange for coupon 7, with or without strip VVPR 7. Payment will be made at Belgian branches of Dexia Bank, Fortis Bank, KBC Bank and ING. ING is also the central payment agent. Renewal of mandates of the 14 directors on Elia’s Board The Extraordinary General Meeting of Shareholders on 13 January 2011 approved an amendment to the Articles of Association increasing the number of directors from 12 to 14, half of those being independent directors. The Elia Board of Directors subsequently co-opted two new directors. Ms Miriam Maes was coopted as an independent director after a favourable opinion from CREG; Mr Steve Stevaert now sits as the representative of reference shareholder Publi-T. Elia’s General Meeting of Shareholders on 10 May approved the appointments. Miriam Maes has extensive experience in the international energy world: she is the founder and CEO of Foresee, a London-based consultancy that advises very large companies on energy management strategy. Before that she was Chief Operating Officer at EDF Energy and Executive HR Manager at TXU, having also occupied a number of executive positions in, amongst others, the food sector, at Marmon and Quest International. Steve Stevaert can look back on an impressive political career, having been among other things Mayor of the city of Hasselt, Chairman of the Flemish socialist party SPA, Vice-Minister-President of the Flemish Government and Flemish Minister of Mobility, and Governor of the province of Limburg (from 2005 to 2009). Steve Stevaert is Honorary Governor and Minister of State. He is Chairman of Infrax and a director of Interelectra.
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