Eandis HY2011 report IFRS

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Eandis HY2011 report IFRS

In February 2011 the Boards of Directors of Eandis and the Flemish mixed DSOs have decided tolaunch a broad-scale pilot project for smart meters. Approximately 50.000 smart meters will beinstalled (40.000 at Eandis, 10.000 in the Infrax area). This project should allow for an optimizationof the technical systems to a mature technology which is suitable for a general roll-out. Theeconomic viability of a global roll-out will be investigated in a cost/benefit analysis. Special attentionwill be paid to the (surplus) value of a smart meter for the consumers and society in general, to theadvantages in the field of energy efficiency, and to privacy and data security aspects.As from 1 May 2011, De Stroomlijn has enlarged its scope of activities with the settlement of callsfrom customers of the Antwerp Water Works (AWW), a water distributing company in the Antwerpregion. AWW also joins De Stroomlijn as one of its shareholders; as a result, Eandis’ portion in DeStroomlijn’s share capital is reduced from 65,92 per cent to 64,03 per cent.Eandis and the Flemish mixed DSOs keep their focus on the Rational Use of Energy (RUE). The mostremarkable event in this respect was the signing at the end of February 2011 by the City of Antwerp,the Antwerp Autonomous Municipal Company for Education, distribution system operator IMEA andEandis of an agreement for the largest RUE-project in Flanders. Through 92 projects a total amountof 16,6 million EUR will be invested in energy saving measures, aiming at improving the overallquality of 50 school buildings and their comfort of use. After implementation of these projects theenergy bills of these 50 school buildings will be down by approx. 26 per cent.Eandis actively participates in several projects of research, innovation and development in the fieldof electric mobility. For example, Eandis is currently collaborating with a number of partners withinthe ‘Electric Vehicles in Action’ platform (EVA) in order to facilitate the innovation and adoption ofelectric vehicles.As announced in the 2010 Annual Report the increase of Eandis cvba’s staff has stabilized during thefirst half of 2011. The net increase between January and June 2011 amounted to 7 persons to a newtotal of 4.303 staff members.RISK FACTORSThe risk factors as described in the 2010 Annual Report and the prospectus dated 2 June 2010 (asupdated on 24 November 2010) have remained valid for the first semester of 2011.OUTLOOKFor the second semester of 2011 Eandis expects that, barring unforeseen economic developments,there will be no substantial deviations vis-à-vis the defined objectives. Meanwhile, Eandis is closelymonitoring the financial and economic evolutions.3

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