# TenneT Holding B.V.

> Utilities, electricity transmission · Netherlands · IFRS · Fiscal year ends December
>
> Latest report: FY2024, the fiscal year ended 31 December 2024. Snapshot FY2024_d435c531.

Page: https://annalist.io/company/tennet/

Identifiers: LEI 724500LTUWK3JQG63903

## Latest Figures

| Figure | Value | Exact value | Unit | Change | Period | Period end | Source documents |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue, fiscal year | €10.0bn | 9999000000 | EUR | +7.5% year on year | FY2024 | 2024-12-31 | Annual financial report 2024-12 |
| Operating profit, fiscal year | €3.2bn | 3204000000 | EUR | +125% year on year | FY2024 | 2024-12-31 | Annual financial report 2024-12 |
| Net income, fiscal year | €1.8bn | 1822000000 | EUR | +179% year on year | FY2024 | 2024-12-31 | Annual financial report 2024-12 |
| Diluted EPS, fiscal year | €8,720.00 | 8720 | EUR/shares | +193% year on year | FY2024 | 2024-12-31 | Annual financial report 2024-12 |
| Operating margin, fiscal year | 32.0% | 32.0432 | % | +16.7pp year on year | FY2024 | 2024-12-31 | Annual financial report 2024-12 |
| Return on equity, fiscal year | 19.7% | 19.6888 | % | +10.9pp year on year | FY2024 | 2024-12-31 | Annual financial report 2024-12 |

- Operating margin: Operating income / revenue.
- Return on equity: Net income attributable to the company / average shareholders' equity attributable to the company.

## Key Findings

Each finding is a sentence written by a fixed rule from the figures; the mark in brackets is how the finding moved against the report before.

- Revenue for the fiscal year ended 31 December 2024 was €10.0 billion, 7.5% higher than in the previous fiscal year. [New in FY2024] Sources: Annual financial report 2024-12.
- Net income attributable to the company for fiscal 2024 was €1.8 billion, 179.4% higher than in the previous fiscal year. [New in FY2024] Sources: Annual financial report 2024-12.
- The operating margin for fiscal 2024 was 32.0%, 16.7 percentage points higher than a year earlier. [New in FY2024] Sources: Annual financial report 2024-12.
- Return on equity for fiscal 2024 was 19.7%, against 8.8% a year earlier. [Weakened in FY2024] Sources: Annual financial report 2024-12, Annual financial report 2023-12.
- Net debt was €28.8 billion at 31 December 2024, 6.2 times EBITDA for fiscal 2024. [Strengthened in FY2024] Sources: Annual financial report 2024-12.
- Lease-adjusted debt was 7.1 times adjusted EBITDA for fiscal 2024, and funds from operations equalled 11.4% of that debt. Both ratios are within the highly leveraged band of the S&P standard volatility table. [Confirmed in FY2024] Sources: Annual financial report 2024-12.
- Operating cash flow for fiscal 2024 exceeded net income attributable to the company by an amount equal to 7.1% of average total assets. [New in FY2024] Sources: Annual financial report 2024-12.
- The Beneish M-score for fiscal 2024 was minus 3.12, below the model threshold of minus 1.78. [New in FY2024] Sources: Annual financial report 2024-12.
- The Piotroski F-score for fiscal 2024 was 7 of 9. The 2 signals not met were long-term debt to assets lower than a year earlier and asset turnover higher than a year earlier. [New in FY2024] Sources: Annual financial report 2023-12, Annual financial report 2024-12.

## Fiscal Years

| Fiscal year | Year end | Item | Value | Exact value | Unit | Source documents |
| --- | --- | --- | --- | --- | --- | --- |
| FY2024 | 2024-12-31 | Revenue | €10.0bn | 9999000000 | EUR | Annual financial report 2024-12 |
| FY2024 | 2024-12-31 | Operating profit | €3.2bn | 3204000000 | EUR | Annual financial report 2024-12 |
| FY2024 | 2024-12-31 | Profit attributable to owners of the parent | €1.8bn | 1822000000 | EUR | Annual financial report 2024-12 |
| FY2023 | 2023-12-31 | Revenue | €9.3bn | 9298000000 | EUR | Annual financial report 2024-12 |
| FY2023 | 2023-12-31 | Operating profit | €1.4bn | 1424000000 | EUR | Annual financial report 2024-12 |
| FY2023 | 2023-12-31 | Profit attributable to owners of the parent | €652m | 652000000 | EUR | Annual financial report 2024-12 |
| FY2022 | 2022-12-31 | Operating profit | −€976m | -976000000 | EUR | Annual financial report 2023-12 |
| FY2022 | 2022-12-31 | Profit attributable to owners of the parent | −€910m | -910000000 | EUR | Annual financial report 2023-12 |
| FY2021 | 2021-12-31 | Operating profit | −€275m | -275000000 | EUR | Annual financial report 2022-12 |
| FY2021 | 2021-12-31 | Profit attributable to owners of the parent | −€344m | -344000000 | EUR | Annual financial report 2022-12 |
| FY2020 | 2020-12-31 | Operating profit | €1.4bn | 1356000000 | EUR | Annual financial report 2021-12 |
| FY2020 | 2020-12-31 | Profit attributable to owners of the parent | €792m | 792000000 | EUR | Annual financial report 2021-12 |

## Source Documents

- Annual financial report 2024-12: Annual financial report for the year to 31 December 2024, 11 Mar 2025, added to the index ([Search page of the AFM register of financial reporting](https://www.afm.nl/en/sector/registers/meldingenregisters/financiele-verslaggeving))
- Annual financial report 2023-12: Annual financial report for the year to 31 December 2023, 18 Mar 2024, added to the index ([Search page of the AFM register of financial reporting](https://www.afm.nl/en/sector/registers/meldingenregisters/financiele-verslaggeving))
- Annual financial report 2022-12: Annual financial report for the year to 31 December 2022, 14 Mar 2023, added to the index ([Search page of the AFM register of financial reporting](https://www.afm.nl/en/sector/registers/meldingenregisters/financiele-verslaggeving))
- Annual financial report 2021-12: Annual financial report for the year to 31 December 2021, 22 Mar 2022, added to the index ([Search page of the AFM register of financial reporting](https://www.afm.nl/en/sector/registers/meldingenregisters/financiele-verslaggeving))

## Reliability

- 106 checks compare these figures with other official figures; 0 failed.
- 83 values are withheld because the filings do not prove them; a withheld value is absent, never estimated.
- Every earlier snapshot stays published: https://annalist.io/api/v1/companies/tennet/snapshots.json

## Cite

Annalist, TenneT Holding B.V., snapshot tennet/FY2024_d435c531; <item>, <period>; source <document>. Link the page https://annalist.io/company/tennet/ and the source document of the figure.

A figure of a statement has an address of its own, which opens the page at that figure with its source documents: https://annalist.io/company/tennet/?fig=<statement>/<period>/<item>, for example https://annalist.io/company/tennet/?fig=pl_annual/FY2024/revenue

## Full Data

- [Every statement, ratio and document of this snapshot (JSON)](https://annalist.io/api/v1/companies/tennet/snapshots/FY2024_d435c531/info.json)
- [Latest snapshot, at an address that does not change (JSON)](https://annalist.io/api/v1/companies/tennet/latest.json)
- [Income statement, annual (CSV)](https://annalist.io/api/v1/companies/tennet/snapshots/FY2024_d435c531/pl_annual.csv)
- [Balance sheet, year end (CSV)](https://annalist.io/api/v1/companies/tennet/snapshots/FY2024_d435c531/balance_sheet.csv)
- [Cash flow, annual (CSV)](https://annalist.io/api/v1/companies/tennet/snapshots/FY2024_d435c531/cf_annual.csv)
- [Ratios, annual (JSON)](https://annalist.io/api/v1/companies/tennet/snapshots/FY2024_d435c531/ratios/annual.json)
- [Key findings with their history (JSON)](https://annalist.io/api/v1/companies/tennet/findings.json)
- [New reports and findings (Atom feed)](https://annalist.io/company/tennet/feed.xml)
- [Excel workbook](https://annalist.io/company/tennet/tennet.xlsx)
- [Buyout model on these figures](https://annalist.io/deal-lab/buyout/tennet/)
- [Lenders, customers, suppliers and owners (brief in Markdown)](https://annalist.io/atlas/tennet/brief.md)
- [Lenders, customers, suppliers and owners (JSON)](https://annalist.io/api/v1/atlas/tennet.json)

## Peers

- [PT Barito Renewables Energy Tbk](https://annalist.io/company/barito-renewables/brief.md)
- [Constellation Energy Corporation](https://annalist.io/company/constellation-energy/brief.md)
- [Duke Energy Corporation](https://annalist.io/company/duke-energy/brief.md)
- [Side by side](https://annalist.io/compare/?c=tennet,barito-renewables,constellation-energy,duke-energy)

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Figures come from official filings and are provided as they are, without warranty of accuracy or completeness. They are not investment advice.