Record Earnings from Networks and Renewables
Both the networks and renewables businesses reported over GBP 1 billion in adjusted operating profit for the first time, with a 53% increase in profit from the networks and a 25% increase from renewables.
Increased Asset Base and Growth Projections
The regulated networks asset base increased by around 60% over the past 3 years, with an upgrade in expected network asset growth rate from 15% to 20%.
Upgrade in RAV Growth Expectations
Annual asset growth expectations for SSEN Transmission were upgraded from 20% to 25% over the plan, making it potentially the fastest-growing regulated network in the world.
Introduction of Cost-Efficiency Measures
An organizational review is expected to deliver around GBP 100 million per annum of recurring efficiencies.
Strong Balance Sheet and Funding Strategy
The company maintains a strong balance sheet with leverage ratios expected to be around 4x in 2027, well within investment-grade credit ratings.