8. Property, Plant and Equipment
Notes |
31-Dec-25 €’000 |
31-Dec-24 €’000 |
|
Property, plant and equipment - owned assets |
9,143,545 |
8,011,526 |
|
Property, plant and equipment - right-of-use assets |
25,632 |
14,636 |
|
Property, plant and equipment - as presented on the balance sheet |
9,169,177 |
8,026,162 |
Property, plant and equipment - owned assets
|
Infrastructure assets €’000 |
Operational assets €’000 |
Non-network assets €’000 |
Assets under construction €’000 |
Total €’000 |
||
Cost |
||||||
At 1 January 2024 |
3,499,172 |
2,568,753 |
294,290 |
1,242,915 |
7,605,130 |
|
Additions |
- |
- |
- |
1,320,543 |
1,320,543 |
|
Disposals |
- |
- |
(710) |
- |
(710) |
|
Derecognition charge |
- |
- |
- |
(27) |
(27) |
|
Transfers |
740,531 |
379,651 |
79,800 |
(1,199,982) |
- |
|
At 31 December 2024 |
4,239,703 |
2,948,404 |
373,380 |
1,363,449 |
8,924,936 |
|
Additions |
- |
- |
- |
1,351,739 |
1,351,739 |
|
Disposals |
- |
- |
(1,101) |
- |
(1,101) |
|
Retirements |
(i) |
- |
- |
- |
(17,572) |
(17,572) |
Derecognition charge |
(ii) |
(177) |
(298) |
- |
- |
(475) |
Reclassification to intangible assets |
- |
- |
- |
(14,689) |
(14,689) |
|
Transfers |
735,843 |
692,116 |
72,740 |
(1,500,699) |
- |
|
At 31 December 2025 |
4,975,369 |
3,640,222 |
445,019 |
1,182,228 |
10,242,838 |
|
Accumulated depreciation and impairment losses |
||||||
At 1 January 2024 |
(213,052) |
(379,773) |
(126,750) |
(10,136) |
(729,711) |
|
Depreciation charge |
(47,869) |
(97,328) |
(31,758) |
- |
(176,955) |
|
Impairment charge |
- |
- |
- |
(7,436) |
(7,436) |
|
Disposals |
- |
- |
692 |
- |
692 |
|
At 31 December 2024 |
(260,921) |
(477,101) |
(157,816) |
(17,572) |
(913,410) |
|
Depreciation charge |
(56,099) |
(112,647) |
(35,782) |
- |
(204,528) |
|
Disposals |
- |
- |
1,073 |
- |
1,073 |
|
Retirements |
(i) |
- |
- |
- |
17,572 |
17,572 |
At 31 December 2025 |
(317,020) |
(589,748) |
(192,525) |
- |
(1,099,293) |
|
Carrying amounts |
||||||
At 31 December 2024 |
3,978,782 |
2,471,303 |
215,564 |
1,345,877 |
8,011,526 |
|
At 31 December 2025 |
4,658,349 |
3,050,474 |
252,494 |
1,182,228 |
9,143,545 |
(i) During 2025, €17.6 million of PPE assets that had a nil carrying value were retired from the Fixed Asset Register (2024: €nil).
(ii) During 2025, the Company undertook its regular review of capital expenditure. Following this review, no assets were identified as exhibiting impairment indicators as at 31 December 2025 (2024: €7.4 million). The derecognition charge of €0.475 million in 2025 relates to two projects (2024: €0.03 million). These are projects for which an alternative solution has been identified, or a prioritisation decision has been taken which concluded that it is no longer probable that the project costs will proceed to delivery of an asset.