Half Year 2025 SSE PLC Earnings Call Transcript
Key Points
- SSE PLC (SSEZF) reported a strong start to the financial year with a 24% increase in adjusted operating profit, reaching GBP860 million.
- The company has made significant progress in its five-year investment plan, targeting around GBP20 billion in CapEx to drive long-term earnings growth.
- SSE PLC (SSEZF) has a balanced business mix that provides resilience and multiple growth options, particularly in renewables and electricity networks.
- The company is well-positioned to benefit from the clean energy transition with a strong portfolio in renewables, flexibility, and electricity networks.
- SSE PLC (SSEZF) declared an interim dividend of 21.2p, reflecting a 6% increase, and remains committed to its dividend growth plan of 5% to 10% per annum.
- The thermal business experienced a small loss in the first half due to stable market conditions and low volatility, impacting overall profitability.
- SSE PLC (SSEZF) faces challenges with the Dogger Bank project, including delays and increased costs related to installation vessels.
- The company is dealing with uncertainties in the supply chain for its transmission projects, which could affect cost and delivery timelines.
- There are ongoing concerns about the impact of locational marginal pricing on investment in the UK energy market.
- SSE PLC (SSEZF) is navigating a complex regulatory environment, particularly with the upcoming RIIO-T3 plan and the need for favorable regulatory outcomes.
Good morning, and welcome to our interim results presentation. Before we begin, let me first address today's announcement that I intend to retire from SSE during 2025 after 11 years leading the company. It's been an immense privilege to be SSE's Chief Executive, and I am extremely proud of what we have achieved during my time here. However, I believe the time is right for the Board to begin the search for a successor and I'm fully committed to delivering a smooth handover, maintains momentum on our significant growth plans. Our Chair, Sir John Manzoni will lead the appointment process, taking account of our highly capable internal team and the wider market, and we will update you in due course. In the meantime, I, along with the rest of the Executive team remain fully focused on delivering our strategy.
I'm joined this morning by Barry O'Regan, our Chief Financial Officer; and Martin Pibworth, our Chief Commercial Officer. And as you will hear shortly, there is plenty to be getting on with as we make
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
