National Grid ( (NGG) ) has released its Q2 earnings. Here is a breakdown of the information National Grid presented to its investors.
National Grid, a prominent player in the energy transmission and distribution sector, has released its half-year results for 2024/25, showcasing significant strides in its investment and growth strategy. Focused on delivering infrastructure for the energy transition, the company operates across the UK and US, emphasizing sustainable and reliable energy solutions.
The half-year results highlighted a record capital investment of £4.6 billion, driven by major projects in both the UK and the US. The company’s underlying operating profit increased by 14% to £2.0 billion, reflecting successful rate increases and enhanced revenues, despite a 34% decline in statutory operating profit due to adverse timing movements. National Grid also completed a £7 billion Rights Issue to support its ambitious £60 billion investment plan over five years.
Key financial metrics revealed a 26% rise in profit before tax to £1.4 billion and an 8% increase in underlying earnings per share. The company is making progress on various strategic projects, including the UK Electricity Transmission and New York’s Upstate Upgrade. Additionally, National Grid continued its focus on regulatory advancements and sustainability commitments, aiming for net-zero emissions by 2050.
Looking ahead, National Grid is poised for continued growth with plans to double its capital investment compared to the last five years. The company maintains a strong outlook for operational performance with an expected increase in earnings per share and asset growth. National Grid’s management remains committed to its role in transitioning to a sustainable energy future, supported by a robust regulatory framework and strategic partnerships.
