Strong Earnings and Dividend Growth
SSE reported strong earnings and dividend growth in line with guidance, driven by high-quality earnings from regulated networks and renewables. The company achieved 160.9p EPS and recommended a final dividend of 43p, a 7% increase from the prior year.
Record Operating Profit in Networks and Renewables
The networks and renewables businesses each contributed over GBP 1 billion in adjusted operating profit for the first time, with Networks showing a 53% increase and Renewables a 25% increase year-over-year.
Upgraded Asset Growth Expectations
SSE upgraded its expected network asset growth rate from 15% to 20%, slightly ahead of the 15% growth rate in renewables volumes, indicating strong future growth prospects.
Record CapEx and Strategic Investments
SSE invested around GBP 2.9 billion in capital investments for the year and has a revised GBP 17.5 billion plan with 60% weighted towards transmission and distribution grid upgrades.