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Ferranti customer: ORES
Since 2013, ORES has been part of the Ferranti customer family. We are therefore immensely proud of this collaboration and all the achievements we accomplished by working closely together over the past few years.
More on ORES
In more than 75% of the Communes in Wallonia, ORES is in charge of administering the distribution networks for gas and electricity. Almost 2,500 men and women work for ORES, a division of ORES Assets, enabling 2.7 million Walloons to receive basic services including electricity, natural gas, and communal public lighting each day. Since its founding in 2009, ORES has made an annual average investment in the distribution networks of about 250 million euros. The business has a consolidated annual turnover of about 1 billion euros.
In addition to running the distribution networks, ORES is in charge of finding the funding sources required to expand and sustain its operations. ORES Assets serve as a guarantee for ORES’ financial resources.
The statutory accounts of ORES were prepared in accordance with Belgian financial reporting guidelines (BGAAP). ORES Assets with ORES consolidates the ownership of the companies Atrias and Comnexio in compliance with Belgian financial reporting regulations and, voluntarily, IFRS standards. Also, the combined risks have been examined.
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