Elia, the operator of Belgium's electricity transmission network, has confirmed its plans to invest nearly €1.4 billion in the country in 2024. This investment aligns with the company's broader strategy to decarbonise and electrify the energy system, contributing to key infrastructure projects.
The company has previously announced a total investment of €9.4 billion for Belgium from 2024 to 2028, with an additional €20.7 billion planned for Germany over the same period. Elia has been actively securing funds to support these investments through various means, including additional credit lines and bond issuances.
Despite potential external risks, Elia maintains a positive outlook for the year, projecting a net profit in Belgium between €200 million and €230 million. The company also anticipates an adjusted return on equity of 7% to 8% for 2024.
While analysts do not foresee any immediate impact on the stock price, they anticipate that Elia will review its financing plan in the second half of the year. The company may also need to raise additional capital to strengthen its balance sheet following a downgrade by S&P Global Ratings in December 2023.
