Financial results in 2015
There are various parts to our financial model of income and expenses, as charted below.
Notes on the main cash flows within Alliander
Alliander's revenue is made up of approximately 85% income from the regulated activities of Liander and Endinet and 15% other income, the latter being income from the activities outside the Netherlands, income related to new activities and other income such as from the rental of large-user meters and transformers and income from the activities of other companies both inside and outside the regulated energy sector. The network operators will each be publishing their own annual report on their performance in 2015, sometime in the second quarter of 2016.
The main expense items relate to maintenance work on the electricity and gas distribution networks and the operating expenses connected with all other activities. In total, those items account for approximately 55% of our overall expenses. On top of that, we invest in excess of half a billion euros a year in capital projects, mainly concerned with replacing existing assets and expanding the networks, as well as the offering of smart meters. This investment equates to roughly 25% of our total expenditure. Additionally, there is the dividend payable to our shareholders and the holders of the subordinated perpetual bond loan each year plus the interest payments to the providers of borrowed capital. The dividend and interest payments together amount to approximately 10% of our overall expenses. Finally, we pay sufferance tax charges to municipal authorities and corporate income tax to the Dutch Taks & Customs Administration. This accounts for another 10% of our expenses approximately.