Inventories are recognised at cost or, if lower, at net realisable value (the estimated selling price in the normal course of business minus selling costs). Cost is determined using the weighted average cost method.
Cost includes all expenses and costs directly attributable to the purchase of inventories and bringing them to their current location and condition.
|
€ Million |
2024 |
2023 |
|
Materials |
170 |
152 |
|
Provision for obsolescence |
-2 |
-2 |
|
Total |
168 |
150 |
Materials refer to items held as inventory for investment, maintenance, and emergency repair activities, as well as for work performed for third parties. The inventory of materials rose by €18 million compared to year-end 2023. This increase is mainly attributable to the strategic build-up of the materials inventory necessary for expanding and upgrading the electricity grid.