Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  SSE plc    SSE   GB0007908733

SSE PLC

(SSE)
  Report  
Real-time Quote. Real-time CHI-X - 10/17 06:44:00 am
1317.25 GBp   +0.90%
10/14SSE : Transaction in Own Shares
PU
10/08SSE : SSEN wins international environmental sustainability award
AQ
09/30SSE : Non-Discretionary Share Buyback Programme
PU
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

SSE : first-half profits hit by capacity payments delay

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/26/2019 | 04:41am EDT
FILE PHOTO: An SSE company logo is seen on signage outside the Pitlochry Dam hydro electric power station in Pitlochry

(Reuters) - Utility SSE Plc said on Thursday the contribution from its first-half profits to annual results would be significantly lower than previously expected after payments under Britain's back-up power scheme were delayed.

A European Union court ruling last year forced Britain to halt payments under its capacity market scheme, which pays generators to be available during periods of high demand, pending a review by the European Commission.

SSE, one of Britain's so-called Big Six energy firms, said the continuing suspension of the payments meant the company was unable to recognise pending payments totalling 148 million pounds.

The proportion of SSE's first-half adjusted operating profit in 2019/20 is likely to be just one-fifth of the full year total, versus 35% the company typically books in, SSE said.

The European Commission launched the review of Britain's capacity market scheme in February but industry experts have said this could take 12 months to complete.

Britain's government has said it expects the scheme to be reinstated and that it will make retrospective payments to companies.

SSE also said profit at its electricity distribution business would decrease by 25 million pounds to 375 million pounds in the current year due to lower-than-expected volumes and a rise in network faults.

The company said it was making good progress in the planned sale of its gas production assets, which meant this business could be considered "held for sale" and in turn reduce adjusted earnings per share by up to 5 pence in the current year.

SSE currently expects its adjusted EPS for the year to be around 85-90 pence, higher than the 67.1 pence a share it reported in the comparable period.

"The key months of our financial year are still to come, and working to mitigate the economic, regulatory and political uncertainties arising from the Brexit process will continue to be a key priority for SSE," the company said.

SSE earlier this month also announced plans to sell its retail arm to OVO Energy in a deal valuing the business around 500 million pounds.

(Reporting by Muvija M in Bengaluru , additional reporting by Susanna Twidale in London; Editing by Rashmi Aich and Jane Merriman)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SSE PLC
10/14SSE : Transaction in Own Shares
PU
10/08SSE : SSEN wins international environmental sustainability award
AQ
10/04LONDON STOCK EXCHANGE : FTSE 100 snatches gains at the end of its worst week in ..
RE
10/04EXCLUSIVE : European Commission set to approve UK billion-pound power backup pla..
RE
10/03UK big six energy firms' 2018 supply profits sank as customers turned to smal..
RE
10/01GE to provide world's most powerful turbines for British wind project
RE
09/30SSE : Non-Discretionary Share Buyback Programme
PU
09/30SSE Launches Buy-Back Program of Up to GBP150 Million
DJ
09/26SSE : first-half profits hit by capacity payments delay
RE
09/26SSE Sees Weaker 1st Half; Fiscal Year 2020 Adjusted EPS in Line
DJ
More news
Financials (GBP)
Sales 2020 26 329 M
EBIT 2020 1 439 M
Net income 2020 802 M
Debt 2020 9 855 M
Yield 2020 6,13%
P/E ratio 2020 16,2x
P/E ratio 2021 13,5x
EV / Sales2020 0,89x
EV / Sales2021 0,84x
Capitalization 13 515 M
Chart SSE PLC
Duration : Period :
SSE plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SSE PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 1 298,30  GBp
Last Close Price 1 305,50  GBp
Spread / Highest target 14,9%
Spread / Average Target -0,55%
Spread / Lowest Target -15,7%
EPS Revisions
Managers
NameTitle
Alistair Phillips-Davies Chief Executive Officer & Executive Director
Richard D. Gillingwater Chairman
Anthony Edward Keeling Chief Operating Officer
Gregor Alexander Finance Director & Executive Director
Martin Pibworth Executive Director & Director-Energy
Sector and Competitors
1st jan.Capitalization (M$)
SSE PLC20.71%17 345
NEXTERA ENERGY, INC.32.27%110 150
ENEL S.P.A.34.91%76 539
DUKE ENERGY CORPORATION10.23%69 312
DOMINION ENERGY, INC.14.47%67 233
IBERDROLA30.52%64 465