VISION 2050 - Fluvius path to climate neutrality
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Cable Networks (CATV)
Characteristics
cable networks owned by 4 intermunicipalities for 103 municipalities
regulators: BIPT and VRM
commercial operations run by telecom operator Telenet, based on 2
LT-contracts (1996 lease contract - 2008 commercial contract) – no
commercial risks at Fluvius entities
financial aspects: Fluvius receives from Telenet:
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OPEX fee: fixed remuneration that follows Telenet's operational costs, until
2046, registered as turnover (2021: EUR 27,1 million) → other operating
income
CAPEX fee: 6,25% ROI, until 2046, registered as financial revenue (2021: EUR
28,8 million) financial income
client fee: 60% on investments, fixed indexed amount until 2046, EUR 5,8
million in 2021 → revenue (95%) and dividends received (5%)
annuity fee: 40% on original investments, OLO interest, until end of
depreciations (currently until 2023), EUR 1,2 million in 2021 → revenue (95%)
and dividends received (5%)
client fee and annuity fee paid out to Interkabel, but 95% pass-through to
Fluvius, together with Interkabel dividends. Interkabel is part of the Fluvius
Economic Group, hence all income is included in Fluvius Economic Group
CATV entities
1. Fluvius Antwerpen
2. Fluvius Limburg
3. Fluvius West
4. PBE
Financial flows
95% pass-through + dividends
Interkabel*
municipalities
dividends
Fluvius
OPEX & CAPEX fees
clientele fee & annuities
Telenet
fluvius.
Telenet customers
*Interkabel: intermediate structure of the Fluvius CATV entities; is part of the Fluvius Economic Group
June 2022.
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