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 |
2025 |
2024 |
|
Materials |
253 |
170 |
|
Provision for obsolescence |
-1 |
-2 |
|
Total |
252 |
168 |
Materials relate 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 increased by € 83 million compared to year-end 2024. The increase is mainly attributable to a change in inventory strategy to make materials more readily available for investment projects, which have increased significantly, particularly due to proactive investment in electricity grid expansions, and to accelerate the implementation of these projects. A further increase in investments in the electricity grid is expected in 2026. In addition, the implementation of projects is not always predictable, for example due to longer licensing procedures.