30. Net revenue
Net revenue decreased by 35.9% compared to the previous financial year (2023: decrease of 12.7%). For a further explanation of this decrease see note 1 ‘Significant matters and events’.
Information about operating activities
We categorise our revenue according to the way in which economic factors influence the nature, amount, time and uncertainty of the cash flows. We apply two different revenue categories. The first revenue category is revenue from regulated transmission and related services. The Dutch and German regulatory authorities set the permitted revenue for this revenue category for the long term. The second revenue category relates to non-regulated services and/or those exempt from regulation. The market determines, by way of the supply and demand mechanism, our tariffs and volumes for these services and so also our revenue.
Revenue for each operating activity was as follows:
| In millions of euros | Revenue | |
|---|---|---|
| 2024 | 2023 | |
| Regulated services | 995.4 | 1,574.6 |
| Non-regulated and/or exempt services | 257.6 | 380.4 |
| Total revenue | 1,253.0 | 1,955.0 |
The decrease in revenue from revenue-regulated services can be mainly explained by lower tariffs, lower capacity sales and lower revenue from capacity auctions. For further details on the decrease in the tariffs see note 1 ‘Significant matters and events’. The decrease in non-regulated services and/or services exempt from regulation mainly relates to the change in the way EemsEnergyTerminal is recognised in the financial statements. Note 1 ‘Significant matters and events’ provides more information on this matter as well.
Information on products and services
Looking at revenue, we can divide this into revenue from gas transmission and transport and related services and from other activities. Gas transmission and transport and related services covers revenue from regulated gas transmission and from non-regulated or exempt gas transmission and transport. Other activities include revenue from gas storage and other services to third parties.
The breakdown is as follows:
| In millions of euros | Revenue | |
|---|---|---|
| 2024 | 2023 | |
| Gas transport and related services | 1,099.1 | 1,629.7 |
| Other services | 153.9 | 325.3 |
| Total revenue | 1,253.0 | 1,955.0 |
The decline in revenue from gas transmission and related services mainly relates to lower permitted revenues, as explained in note 1 ‘Significant matters and events’. The decrease in revenue generated by other activities is mainly due to the change in the way in which EemsEnergyTerminal is recognised in the financial statements, as also explained in note 1 ‘Significant matters and events’.
Geographical information
We determine revenue per geographical area based on the area where our activities take place (in or outside the Netherlands). The geographical distribution of the revenue was as follows:
| In millions of euros | Revenue | |
|---|---|---|
| 2024 | 2023 | |
| The Netherlands | 918.1 | 1,459.8 |
| Outside the Netherlands | 334.9 | 495.2 |
| Total revenue | 1,253.0 | 1,955.0 |