REG - Centrica PLC - AGM Statement

CentricaAnnouncement

08/05/2025 07:01

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RNS Number : 7826H  Centrica PLC  08 May 2025

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8 May 2025

Centrica plc

AGM Statement

Centrica plc (the "Company") will hold its Annual General Meeting today at
10.30am at The Edwardian Manchester, Free Trade Hall, Peter Street,
Manchester, M2 5GP.

Ahead of the Company's 2025 Interim Results, which will be released on the 24
July 2025, the Company provides the following update on its trading
performance.

·    Reaffirming 2025 full year adjusted operating profit guidance
ranges(1) and the intention to increase the full year 2025 dividend per share
to 5.5 pence. The Company notes:

·    British Gas Residential Energy has been impacted by warmer than
normal weather in Q2 but is still expected to be within its medium-term
sustainable adjusted operating profit range in 2025.

·    Residential and business energy supply businesses have seen organic
growth in customer numbers year to date.

·    Centrica Energy is currently expected to be towards the bottom of its
medium-term sustainable adjusted operating profit range for the year, with
profitability heavily weighted to the second half. This is primarily due to
more challenging market conditions in the gas & power trading segment,
while our LNG and RETO businesses continue to perform strongly.

·    Centrica Energy Storage+ 2025 adjusted operating loss is now expected
to be at the higher end of the indicated range of £50 million - £100
million. Constructive discussions are ongoing with the UK Government to secure
a regulatory support mechanism that unlocks £2 billion of investment to
increase Rough's capacity and ultimately convert it into a hydrogen-ready
storage facility.

·    The usual uncertainties remain for the balance of the year, including
weather, commodity prices, regulation and government policy. As is normal,
Group profitability is expected to be weighted to the first half of the year.
 

·    We are closely monitoring the impact of potential global trade
restrictions and will continue to do so. Given our diversified supply chains
across key projects and operations, we do not currently anticipate any
material impact on our business or financial results.

 

Enquiries:

 

 Investors and Analysts:                                 email: ir@centrica.com
 Media:                                                  email: media@centrica.com  tel: +44 (0)1784 843000

 

Notes:

1.    As outlined at the Company's 2024 Preliminary Results, all Retail
Energy Supply and Optimisation businesses are expected to be within their
medium-term sustainable adjusted operating profit ranges for 2025. British Gas
Residential Energy Supply £150 million - £250 million, Centrica Energy £250
million - £350 million, Bord Gáis Energy and Business Energy Supply £100
million - £200 million.

 

British Gas Services & Solutions is expected to deliver a further improved
financial result compared with 2024, as it continues recovery towards its
medium-term sustainable adjusted operating profit range of £100 million -
£200 million by 2026.

 

2025 Infrastructure adjusted operating profit of £250 million - £400
million, including the expected loss from CES+ in 2025.

 

Group adjusted operating profit also includes colleague profit share and meter
asset provider consolidation adjustments.

 

Centrica plc is listed on the London Stock Exchange (CNA)

Registered Office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD

Registered in England & Wales number: 3033654

Legal Entity Identifier number: E26EDV109X6EEPBKVH76

ISIN number: GB00B033F229

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