Drax Group (DRX)

Sector:

Electricity Generation and Distribution

Index:

FTSE 250

252.00p
   
  • Change Today:
    -5.60p
  • 52 Week High: 334.20
  • 52 Week Low: 126.40
  • Currency: UK Pounds
  • Shares Issued: 396.91m
  • Volume: 678,324
  • Market Cap: £1,000.22m
  • RiskGrade: 316

Drax interims boosted by Iberdrola assets

By Frank Prenesti

Date: Wednesday 24 Jul 2019

LONDON (ShareCast) - (Sharecast News) - Power company Drax on Wednesday reported a 35% jump in interim core earnings boosted by gas, hydro and pumped storage power plants bought from Spain's Iberdrola.
Drax on Wednesday said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in the six months to June 30 came in at £138m, compared with £102m a year ago.

The figure included a £36m contribution from the new assets, purchased in a £702m deal earlier this year. Full year EBITDA and net debt expectations remained unchanged, Drax said.

It added that the results did not include £34m of revenue it expects from the Capacity Market, designed to avoid electricity shortages, after the UK government had to stop payments due to an investigation by European Union regulators.

"We continue to expect the issue to be resolved during the second half of 2019, with retrospective payments to be made to generators and reflect this in our expectations for the year."

"Once the market is re-established, we expect to received income from the Capacity Market of £68m in 2019, plus a further £7m in relation to the end of 2018," the company said.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Drax Group Market Data

Currency UK Pounds
Share Price 252.00p
Change Today -5.60p
% Change -2.17 %
52 Week High 334.20
52 Week Low 126.40
Volume 678,324
Shares Issued 396.91m
Market Cap £1,000.22m
RiskGrade 316

Drax Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
88.02% above the market average88.02% above the market average88.02% above the market average88.02% above the market average88.02% above the market average
50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average
Price Trend
0.68% above the market average0.68% above the market average0.68% above the market average0.68% above the market average0.68% above the market average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average
Income
91.08% above the market average91.08% above the market average91.08% above the market average91.08% above the market average91.08% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
81.08% above the market average81.08% above the market average81.08% above the market average81.08% above the market average81.08% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 9
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 11
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Drax Group Dividends

  Latest Previous
  Final Interim
Ex-Div 23-Apr-20 19-Sep-19
Paid 15-May-20 11-Oct-19
Amount 9.50p 6.40p

Trades for 09-Jul-2020

Time Volume / Share Price
16:35 314,963 @ 252.00p
16:29 46 @ 251.20p
16:29 242 @ 251.20p
16:29 518 @ 251.20p
16:29 5,000 @ 251.34p

Drax Group Key Personnel

Chair Philip Cox
CEO Will Gardiner
CFO Andy Skelton

Top of Page