Summary of results
British Energy Group plc
View a downloadable spreadsheet (.xls) of British Energy Group plc
| Six months ended 28 September 2008 (H1 2008/09) | Year ended 31 March 2008 (FY 2007/08) | Six months ended 30 September 2007 (H1 2007/08) | |
Total Output TWh | 22.7 | 58.4 | 30.7 |
- Nuclear TWh | 19.2 | 50.3 | 27.8 |
- Coal TWh | 3.5 | 8.1 | 2.9 |
Realised Price £/MWh | 47.2 | 40.7 | 38.4 |
Unit operating cost £/MWh | 41.3 | 30.0 | 25.9 |
Operating margin £/MWh | 5.9 | 10.7 | 12.5 |
£m | |||
Revenue from generated electricity | 1,071 | 2,377 | 1,178 |
Miscellaneous income | 5 | 11 | 5 |
Operating costs of generated electricity | (819) | (1,506) | (672) |
Adjusted EBITDA | 257 | 882 | 511 |
Other operating income* | 13 | 10 | 9 |
Cash Sweep Payment credit | - | 134 | 134 |
Cash Sweep Payment accrual | - | (102) | - |
Depreciation | (114) | (238) | (119) |
Amortisation of conversion asset | (89) | (167) | (70) |
Other amortisation | (5) | (9) | (4) |
Unrealised net gains/(losses) on derivative financial instruments and commodity contracts** | 8 | (3) | (68) |
Operating profit | 70 | 507 | 393 |
Interest payable | (41) | (77) | (39) |
Interest receivable | 38 | 89 | 40 |
Net other finance (expenses)/income | (9) | 19 | 13 |
Profit before taxation | 58 | 538 | 407 |
Taxation | (35) | (203) | (164) |
Net profit for the period attributable to shareholders (post Cash Sweep) | 23 | 335 | 243 |
Adjusted operating profit (excluding certain items)*** | 138 | 635 | 388 |
Adjusted net profit for the period attributable to shareholders (excluding certain items ***) | 83 | 467 | 288 |
Operating and Energy Costs | |||
Fuel cost - nuclear | 112 | 300 | 160 |
Nuclear fuel cost £/MWh | 5.8 | 6.0 | 5.8 |
| Fuel cost - Eggborough | 146 | 227 | 63 |
| Eggborough fuel cost £/MWh | 41.7 | 28.0 | 21.7 |
Total fuel costs | 258 | 527 | 223 |
Materials and services | 343 | 583 | 251 |
Staff costs | 218 | 396 | 198 |
Operating costs of generated electricity | 819 | 1,506 | 672 |
Memo: Total investment in plant (projects, major repairs, strategic spares), excluding PiP staff costs**** | 146 | 283 | 111 |
Memo: Capital expenditure (including statutory outage costs capitalised) | 126 | 207 | 104 |
* Other operating income relates to the utilisation of the contracts provision, which was established at Restructuring and which unwinds over the lives of the contracts in place at Restructuring, and in H1 08/09, includes £11m of distributions received in respect of an Enron insolvency claim
** Unrealised net gains/(losses) on derivative financial instruments and commodity contracts arises as a result of a fair value movement in certain of our commodity contracts
*** Results have been adjusted to exclude unrealised net gains/(losses) on derivative financial instruments and commodity contracts, Cash Sweep Payment accrual, Cash Sweep Payment credit, amortisation of conversion asset, other operating income and other exceptional operating expenses and includes, where appropriate, the corresponding adjustement to taxation and revalorisation thereon
**** Additional costs of £63m and £20m were incurred in H1 2008/09 and FY 2007/08 respectively in respect of the BCU recovery project
British Energy plc (old company)
View a downloadable spreadsheet (.xls) of quarterly results Q105, Q205 and Q305
View a downloadable spreadsheet (.xls) of 5 year results summary
A summary of the profit and loss, balance sheet and key ratios is shown below:
| Year ended 31 March | 2004 £m | 2003 £m | 2002 £m | 2001 (restated) £m | 2000 £m |
|---|---|---|---|---|---|
Results (excluding exceptional items) | |||||
| Turnover | 1,516 | 1,862 | 2,049 | 2,124 | 2,058 |
| Operating profit | 57 | 104 | 231 | 226 | 428 |
| (Loss)/profit before tax | (171) | (130) | 42 | 10 | 241 |
| (Loss)/earnings | (169) | (132) | (39) | (23) | 161 |
| Operating cash flow (net of capital expenditure) | 156 | 54 | 155 | 144 | 313 |
Results (including exceptional items) | |||||
| Turnover | 1,516 | 1,903 | 2,049 | 2,124 | 2,058 |
| Operating profit/(loss) | 340 | (3,802) | (281) | 280 | 412 |
| Profit/(loss) before tax | 232 | (4,292) | (493) | 57 | 225 |
| Earnings | 234 | (3,941) | (527) | 29 | 150 |
| Ordinary dividends | - | - | (48) | (48) | (48) |
Balance sheet | |||||
| Net (liabilities)/assets | (3,164) | (3,383) | 627 | 1,298 | 1,313 |
| Net current assets | 290 | 229 | 891 | 854 | 73 |
| Nuclear liabilities (discounted) | 4,223 | 3,937 | 3,719 | 3,728 | 3,770 |
| Capital expenditure | - | (282) | (225) | (133) | (137) |
| Net debt | (310) | (550) | (859) | (730) | (936) |
Ratios | |||||
| Dividends per ordinary share (p/share) | - | - | 8.0 | 8.0 | 8.0 |
| Earnings/(deficit) per share (p/share) | 38.9 | (654.7) | (88.5) | 1.2 | 23.2 |
| Dividend cover | - | - | - | - | 3.3 |
The figures for 2000 have not been restated for the introduction of FRS19 on deferred tax.
