A key economic player in Wallonia
ORES is responsible for managing the electricity and gas distribution networks in over 75% of the Communes in Wallonia. The staff of ORES, a subsidiary of ORES Assets, is made up of some 2,400 men and women who, each day, enable 2.7 million Walloons to benefit from basic services: access to electricity, natural gas, and communal public lighting. Every year since its creation in 2009, ORES has invested on average some 250 million euros in the distribution networks. The company generates an annual consolidated turnover of more than 1 billion euros.
Responsible for the operation of the distribution networks, ORES also has to search for the financing resources needed to develop its activities and make them sustainable. ORES’ financing resources are guaranteed by ORES Assets.
ORES’ statutory accounts have been drawn up according to Belgian financial reporting standards (BGAAP). Shareholdings in the company Atrias and Comnexio are consolidated in ORES Assets with ORES in accordance with Belgian financial reporting standards and, on a voluntary basis, in accordance with IFRS standards. An analysis of the consolidated risks has also been carried out.
2019 Financial Statements
Introduction to the company
Bond issue – Commercial paper
The main dates for the financial calendar of the ORES economic group are given in this table
|Publication of the annual reports||May 2020|
|Ordinary General Meetings||18 June 2020|
|Publication of the results from the first half-year||October 2019|
Memorandum and Articles of Association
ORES and ORES Assets’ memorandum and articles of association can be consulted (in French) via the links below.
- ORES Assets - coordinated memorandum and articles of assocation as at 18 June 2020
- ORES coordinated memorandum and articles of association as at 18 June 2020
You can also consult ORES’ Governance Charter.
Member State of origin
In accordance with Article 2 (1) (i) of Directive 2004/109 / EC of the European Parliament and of the Council of 15 December 2004 and Article 1 (9) (b) of the Luxembourg Law of 11 January 2008 relating to transparency requirements on issuers of securities, ORES has chosen the Grand Duchy of Luxembourg as its home Member State.
General meetings of Bondholders and shareholders
Notices relating to the convening and documents relating to the general meetings of the shareholders and bondholders of ORES are available in the news.