Consolidated income statement

x € 1 million	Note	2023	2022^*

Net revenue	4	1,752	1,316
Other income	5	18	17
Total net revenue and other income		1,770	1,333

Personnel expenses	6	537	466
Purchasing costs and contracted work	7	701	499
Other operating expenses	8	194	165
Capitalised own production	9	-262	-229
		1,170	901
Depreciation, amortisation and impairment of non-current assets	10	307	296
Total operating expenses		1,477	1,197
Operating profit		293	136

Financial income and expenses	11	-65	-30
Result from associates and joint ventures after income tax		-	3
Profit before income tax		228	109

Income tax	12	-58	-28

Result after income tax		170	81

Profit distribution:
Attributable to holders of Stedin Holding N.V. perpetual subordinated bonds (after income tax)	46	6	6
Attributable to the shareholders of Stedin Holding N.V.	46	164	75
Result after income tax		170	81

* The comparative figures have been adjusted as a result of a change in the accounting policies for the valuation of property, plant and equipment and a reclassification of hours of hired personnel directly allocated to own investment projects. See 2.2.10 Property, plant and equipment and 6 Personnel expenses for more information.

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