April 25, 2017 9:17 PM ET

Electric Utilities

Company Overview of Northern Ireland Electricity Networks Limited

Company Overview

Northern Ireland Electricity Networks Limited engages in the construction, ownership, and maintenance of the transmission and distribution networks in Northern Ireland. The company is also involved in the operation of the distribution network. Its transmission and distribution network includes 2,200 kilometers of transmission lines; 47,000 kilometers of distribution lines; and 300 major substations. In addition, the company provides electricity meters, as well as metering data to suppliers and market operators to enable wholesale and retail settlement. It serves approximately 860,000 customers. The company was formerly known as Northern Ireland Electricity Limited and changed its name to Nor...

120 Malone Road

Belfast,  BT9 5HT

United Kingdom

Founded in 1991

1,277 Employees

Key Executives for Northern Ireland Electricity Networks Limited

Managing Director and Director
Finance Director
Deputy Managing Director, Director of Regulation & Market Operations and Director
Age: 53
Company Secretary
Human Resources Director
Compensation as of Fiscal Year 2016.

Northern Ireland Electricity Networks Limited Key Developments

Northern Ireland Electricity Networks Limited Reports Audited Consolidated and Parent Earnings Results for the Year Ended December 31, 2016

Northern Ireland Electricity Networks Limited reported audited consolidated and parent earnings results for the year ended December 31, 2016. For the year, on the consolidated basis, the company reported revenue was £246.8 million against £236.1 million a year ago. Operating profit was £91.7 million against £92.3 million a year ago. Profit before tax was £50.2 million against £50.7 million a year ago. Profit for the year attributable to the equity holders of the parent company was £45.5 million against £50.2 million a year ago. Net cash flows from operating activities were £186.4 million against £148.0 million a year ago. Purchase of property, plant and equipment was £197.4 million against £137.3 million a year ago. Purchase of intangible assets was £0.4 million against £0.2 million a year ago. For the year, on the parent basis, the company reported profit for the financial year of £45.5 million against £48.7 million a year ago. Total comprehensive loss for the year attributable to the equity holders of the parent company was £0.8 million against income of £56.4 million a year ago.

Northern Ireland Electricity Networks Limited Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2016

Northern Ireland Electricity Networks Limited reported unaudited consolidated earnings results for the six months ended June 30, 2016. For the year, on consolidated basis, the company reported revenue of £119.3 million against £111.6 million a year ago. Operating profit was £41.0 million against £39.1 million a year ago. Profit before tax was £20.4 million against £18.4 million a year ago. Profit attributable to the equity holders of the parent company was £16.3 million against £14.3 million a year ago. Net cash flows from operating activities were £92.5 million against £61.0 million a year ago. Purchase of property, plant and equipment was £94.5 million against £57.8 million a year ago. Purchase of intangible assets was £0.1 million. At June 30, 2016 the Group had contracted future capital expenditure in respect of property, plant and equipment of £12.4 million and computer software assets of £2.4 million compared to £23.3 million and £0.3 million a year ago. The Group’s operating profit was increased compared to last year reflecting higher revenues due to the phasing of RP5 tariffs offset by higher operating costs, including increased depreciation charges.

Northern Ireland Electricity Networks Limited Reports Audited Consolidated and Parent Earnings Results for the Year Ended December 31, 2015

Northern Ireland Electricity Networks Limited reported audited consolidated and parent earnings results for the year ended December 31, 2015. For the year, on the consolidated basis, the company reported revenue was £236.1 million against £243.8 million a year ago. Operating profit was £92.3 million against £102.4 million a year ago. Profit before tax was £50.7 million against £61.5 million a year ago. Profit for the year attributable to the equity holders of the parent company was £50.2 million against £48.2 million a year ago. Net cash flows from operating activities was £148.0 million against £125.3 million a year ago. Purchase of property, plant and equipment was £137.3 million against £118.9 million a year ago. Purchase of intangible assets was £0.2 million against £0.5 million a year ago. For the year, on the parent basis, the company reported profit for the financial year of £48.7 million against £47.1 million a year ago. Total comprehensive income for the year attributable to the equity holders of the parent company was £56.4 million against £13.1 million a year ago.

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