Record Earnings from Networks and Renewables
Both the Networks and Renewables businesses contributed over GBP 1 billion in adjusted operating profit for the first time, with the Networks business delivering a 53% increase in adjusted operating profit and Renewables seeing a 25% increase.
Strong Balance Sheet and Investment Strategy
SSE has maintained a strong balance sheet with a net debt-to-EBITDA ratio expected to be around 4x in 2027, supported by disciplined investment strategies and potential levers such as additional hybrid funding and capital recycling.
Upgraded Asset Growth Expectations
The company upgraded its expected network asset growth rate from 15% to 20%, with a similar uplift in renewables volumes, driven by strong project performance and strategic investments.
Progress on Major Renewable Projects
Significant progress on key projects like Dogger Bank and Viking, with Dogger Bank A turbine installation passing the halfway mark and the project expected to complete in the second half of 2025.