Half Year 2025 National Grid PLC Earnings Call Transcript
Key Points
- National Grid PLC (NGG) has announced a significant capital investment plan of around GBP60 billion over the next five years, indicating strong growth potential.
- The company successfully completed a GBP7 billion Rights Issue, strengthening its balance sheet to support the upcoming growth phase.
- Operating profit from continuing operations increased by 15% to GBP2 billion, driven by strong performance across regulated businesses.
- National Grid PLC (NGG) declared an interim dividend of 15.84p per share, in line with its policy, reflecting confidence in its financial stability.
- The company has made substantial progress in its strategic infrastructure projects, with construction underway on several key projects in both the UK and US.
- There are concerns about potential supply chain constraints, particularly regarding the procurement of transformers, which could impact project timelines.
- The regulatory environment remains challenging, with ongoing discussions about allowed returns and incentives, which could affect future profitability.
- National Grid PLC (NGG) faces uncertainties related to the US elections and potential changes in energy policy, which could impact its investment plans.
- The company is dealing with increased costs due to inflation and higher financing costs, which could pressure margins.
- There is a risk of delays in planning and consenting processes for major projects, which could affect the timely delivery of infrastructure.
Good morning, and welcome to National Grid's half-year results presentation. I'm Angela Broad, Head of Investor Relations, and it's great to have so many of you on the call today. Firstly, Please can I draw your attention to the cautionary statement at the center back as usual, a Q&A with John and Andy will follow the presentation. Please join by the conference call and your star one to ask a question or isn't tab at the bottom of the webcast to submit a written question. All of today's materials are available on our website and of course, for any further queries after the call, please reach out to me or one of the IR team. So with that, I'd like to hand you over to our CEO, John Pettigrew. John?
Many thanks, Angela, and good morning, everyone. Thank you for joining us today. I'm here with and yard. And once we've been through our respective presentations will, of course be very happy to answer your questions. As you
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