4. Employee benefit expenses

Expenses are allocated to the financial year to which they relate.

The development of the workforce in 2024 can be specified as follows:

The average number of FTEs in 2024 amounted to 6,693 (2023: 6,131). There are no employees working outside the Netherlands.

Employee benefit expenses rose by €121 million to €741 million in 2024. This increase is the balance of a €91 million increase in expenses for internal personnel and a €30 million increase in expenses for external personnel.

The increase in employee benefit expenses for internal personnel compared to 2023 is due to the increase in FTEs, regular salary increases and a CBA wage increase as of 1 January 2024 of 7%. 

The costs of external hires rose by €30 million. This concerns a combination of a tariff increase and an increase in the number of external hires in FTEs.

Pension obligations

Enexis employees participate in the pension scheme of Stichting Pensioenfonds ABP (the Dutch pension fund for employees in the government, public and education sectors). ABP may increase pensions if the current funding ratio exceeds 110% and the policy funding ratio exceeds 105%.

The coverage ratio of pension fund ABP at the end of 2024 amounted to 112.0% (year-end 2023: 111.9%). This is above the 110% minimum set by the government. The policy coverage ratio is the average of the last 12 actual monthly coverage ratios and was 113.2% at the end of October 2024.

Based on these policy coverage ratios, ABP has decided to increase pensions by 1.84% from 1 January 2025.

The contribution for retirement and surviving dependants’ pensions will remain 27.0% in 2025. The employer pays 18.9%, and the employee pays 8.1% of the pension contribution. 

As Enexis does not have access to the necessary specific information, these schemes are treated as defined contribution plans and the pension contributions payable for the financial year are recognised in the financial statements as pension expenses.