Centrica PLC
OTC:CPYYY

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Centrica PLC
OTC:CPYYY
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Price: 9.44 USD 3.74% Market Closed
Market Cap: 12.4B USD

Centrica PLC
Investor Relations

Centrica PLC, a beacon in the energy sector, traces its roots back to the privatization wave of the 1980s in the UK. Emerging from British Gas, Centrica swiftly adapted to the deregulated energy landscape, repositioning itself as a multifaceted entity within the utility sphere. This transformation allowed it to delve into numerous business avenues, each aimed at satisfying the ever-evolving energy needs of its diverse customer base. The company is renowned for its robust portfolio, which encompasses energy supply, services, and solutions designed to meet the needs of homes and businesses alike. Through its British Gas subsidiary, Centrica has entrenched itself as a household name, delivering essential energy services and utility management to millions, underpinning its domestic market stronghold.

Simultaneously, Centrica has strategically diversified its revenue streams beyond mere energy supply. By tapping into energy trading, it leverages its adeptness in energy procurement and risk management to bolster profitability. Moreover, the company's commitment to innovation is evident in its investments in technology-driven solutions, such as smart home products and renewable energy initiatives. These forward-thinking endeavors not only align Centrica with global sustainability trends but also create new revenue opportunities within an industry transitioning towards greener energy. This multifaceted approach allows Centrica to navigate the intricacies of the modern energy market, ensuring its continued relevance and financial stability in the face of dynamic industry challenges.

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Last Earnings Call
Fiscal Period
Q2 2022
Call Date
Jul 28, 2022
AI Summary
Q2 2022

Strong Results: Centrica reported a significant financial turnaround, with EPS excluding Norway E&P up to 10.2p from 1.3p last year and free cash flow rising 23% to GBP 643 million.

Dividend Reinstated: The company restarted dividend payments for the first time in three years, declaring an interim dividend of 1p per share.

Portfolio Simplification: Centrica completed major asset disposals (e.g., Spirit Norway) and eliminated net debt, removing over GBP 6 billion in liabilities in two years.

Investment in Growth: The company is prioritizing investment in customer service, technology, and the energy transition, particularly around net zero opportunities, flexible generation assets, and upskilling its workforce.

Conservative Balance Sheet: Management emphasized a conservative approach to the balance sheet amid current volatility, prioritizing cash flexibility over specific leverage targets.

Positive Outlook: Full-year adjusted EPS is expected to be at or above the top end of consensus if current asset performance and commodity prices hold, but management highlighted ongoing uncertainty.

Key Financials
EPS (excluding Norway E&P)
10.2p
Free Cash Flow
GBP 643 million
Operating Profit (Group Adjusted)
GBP 1.3 billion
Net Cash Position
GBP 316 million
Interim Dividend Per Share
1p
Operating Profit (British Gas Services & Solutions)
GBP 7 million
Operating Profit (British Gas Energy)
GBP 98 million
Operating Profit (Bord Gáis Energy)
GBP 33 million
Operating Profit (Centrica Business Solutions)
GBP 20 million
Operating Profit (Energy Marketing & Trading)
GBP 278 million
Operating Profit (CSL)
GBP 76 million
Operating Profit (Nuclear)
GBP 286 million
Employee Engagement
63%
Customer Retention Rate
above 80%
Heating Installations
up 13% year-on-year
Bad Debt Charge (British Gas Energy)
2.3% of revenue
Net Loss of Customers (British Gas Services & Solutions)
157,000
Operating Profit (Retained Spirit Energy assets)
GBP 59 million
Other Earnings Calls
2022
2021

Management

Mr. Christopher O'Shea
Group Chief Executive & Executive Director
No Bio Available
Mr. Russell Leslie O'Brien
Group CFO & Executive Director
No Bio Available
Mr. Martyn Espley
Head of Investor Relations
No Bio Available
Mr. Rajarshi Roy
Group General Counsel & Company Secretary
No Bio Available
Ms. Jill Belinda Shedden M.B.E.
Group Chief People Officer
No Bio Available
Jim Rushen
Group Head of Environment
No Bio Available
Rob Simister
Head of Fleet - British Gas
No Bio Available

Contacts

Address
BERKSHIRE
Windsor
Millstream, Maidenhead Road
Contacts
+441753494000.0
www.centrica.com