Drax Group PLC

DRX

Equity

ISIN GB00B1VNSX38 / Valor 2983897

LSE London Stock Exchange, SETS (2024-12-23)

GBP 6.34+0.71%

Drax Group PLC
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About company

Drax Group PLC operates a generation portfolio of sustainable biomass, hydro-electric, and pumped hydro storage assets in the UK, making it the country's largest source of renewable electricity. The company also runs a global bioenergy supply business with manufacturing facilities in the United States and Canada, producing compressed wood pellets for customers in Europe and Asia. Drax is committed to sourcing sustainable biomass for decarbonization and positive forest outcomes, utilizing sawmill and forest residuals, as well as low-grade roundwood. The company aims to become a carbon-negative business by 2030 through innovative greenhouse gas removal technology.

Summarized from source with an LLMView SourceSector: Energy

Adjusted EBITDA

For the twelve months ended 31 December 2023, Drax Group PLC reported an adjusted EBITDA of £1,009 million, including the impact of the Electricity Generator Levy (EGL). This represents a significant increase from the £731 million reported in the same period of 2022.

Net Debt

As of 31 December 2023, Drax Group PLC's net debt stood at £1,084 million, a reduction from £1,206 million at the end of 2022. The net debt to adjusted EBITDA ratio improved to 1.1x from 1.6x in the previous year.

Dividend Increase

Drax Group PLC proposed a final dividend of 13.9 pence per share for the twelve months ended 31 December 2023, up from 12.6 pence per share in 2022. This represents a 10% increase, reflecting the company's strong financial performance.

Operating Profit

For the twelve months ended 31 December 2023, Drax Group PLC reported an operating profit of £908 million, a substantial increase from £146 million in the same period of 2022. This growth was driven by strong performance in renewable generation and system support services.

Profit Before Tax

Drax Group PLC's profit before tax for the twelve months ended 31 December 2023 was £796 million, compared to £78 million in the previous year. This significant increase underscores the company's robust financial health and operational efficiency.

Summarized from source with an LLMView Source

Key figures

30.8%1Y

5.66%3Y

92.7%5Y

Performance

34.0%1Y

37.0%3Y

40.6%5Y

Volatility