Development of results
Eneco Holding N.V. recorded a net profit of € 233 million in 2012, an increase of € 29 million (14%) compared with 2011. Revenues were up by 5% from € 5,007 million to € 5,256 million. Gross margin and other operating revenues (non-energy revenue) improved by € 184 million (11%) to € 1,794 million. The acquisitions of Oxxio and the remaining 50% interest in the Prinses Amalia Wind Farm (PAWF) in 2011, the expansion of selling activities in Belgium and higher transmission tariffs played a major role in this.

Operating expenses excluding depreciation, amortisation and impairment rose by € 119 million to € 1,018 million, partly as a natural outcome of the expansion of activities, such as the acquisitions of Oxxio and the remaining 50% interest in PAWF and bringing the gas-fired Enecogen power plant, the Gas...