Here you’ll find Drax Group’s five-year financial history.
5-year history
| 2025 £m | 2024 £m | 2023 £m | 2022 £m | 2021 £m |
|
|---|---|---|---|---|---|
| Adjusted Revenue | 5,355 | 6,081 | 7,450 | 8,159 | 5,174 |
| Adjusted Gross profit | 1,562 | 1,790 | 1,753 | 1,322 | 843 |
| Adjusted EBITDA (incl. EGL) | 947 | 1,064 | 1,009 | 731 | 398 |
| Total Operating profit | 241 | 850 | 908 | 146 | 197 |
| Total Profit for the year attributable to equity holders | 73 | 527 | 562 | 85 | 80 |
| Earnings per share: | pence | pence | pence | pence | pence |
| Statutory basic | 20.7 | 137.5 | 142.8 | 21.3 | 20 |
| Statutory diluted | 20.2 | 134.8 | 139.5 | 20.5 | 19.3 |
| £m | £m | £m | £m | £m | |
| Net debt | (784) | (992) | (1,220) | (1,206) | (1,108) |
| Net assets | 1,713 | 2,087 | 1,983 | 1,324 | 1,307 |
- * All figures are shown as presented in the full year results and/or annual report and accounts for the year – restatements as a result of changes in accounting policies in subsequent years have not been included
Here you’ll find Drax Group’s most recent full year and half year results.
Full year
| Twelve months ended 31 December | 2025 | 2024 |
|---|---|---|
| Key financial performance measures | ||
| Adjusted EBITDA(1/2/3) (£ million) | 947 | 1,064 |
| Net debt(4) (£ million) | 784 | 992 |
| Adjusted basic EPS(1) (pence) | 137.7 | 128.4 |
| Dividend per share (pence) | 29.0 | 26.0 |
| Total financial performance measures | ||
| Operating profit (£ million) | 241 | 850 |
| Profit before tax (£ million) | 190 | 753 |
- (1) Financial performance measures prefixed with “Adjusted/Adj.” are stated after adjusting for exceptional items and certain remeasurements (including certain costs in relation to the disposal of the Opus Energy SME meters, impairments of Longview, UK BECCS, and Canadian pellets, transformation and restructuring costs and change in fair value of financial instruments).
- (2) Earnings before interest, tax, depreciation, amortisation, other gains and losses and impairment of non-current assets, excluding the impact of exceptional items and certain remeasurements, earnings from associates and earnings attributable to non-controlling interests.
- (3) In January 2023, the UK Government introduced the Electricity Generator Levy (EGL) which runs to 31 March 2028. The EGL applies to the three biomass units operating under the RO scheme and run-of-river hydro operations. It does not apply to the Contract for Difference (CfD) biomass or pumped storage hydro units. EGL is included in Adj. EBITDA and was £nil in 2025 (2024: £161 million).
- (4) Net debt is calculated by taking the Group’s borrowings, adjusting for the impact of associated hedging instruments, lease liabilities and subtracting cash and cash equivalents. Net debt excludes the share of borrowings, lease liabilities and cash and cash equivalents attributable to non-controlling interests. Borrowings includes external financial debt, such as loan notes, term-loans and amounts drawn in cash under revolving credit facilities. Net debt does not include financial liabilities such as pension obligations, trade and other payables, working capital facilities linked directly to specific payables that provide short extension of payment terms of less than 12 months and balances related to supply chain finance. Net debt includes the impact of any cash collateral receipts from counterparties or cash collateral posted to counterparties.
Half year
| Six months ended 30 June | H1-25 | H1-24 |
|---|---|---|
| Key financial performance measures | ||
| Adjusted EBITDA(1/2/3) (£ million) | 460 | 515 |
| Net debt(4) (£ million) | 1,062 | 1,159 |
| Adjusted basic EPS(1) (pence) | 65.6 | 65.6 |
| Dividend per share (pence) | 11.6 | 10.4 |
| Total financial performance measures | ||
| Operating profit (£ million) | 301 | 518 |
| Profit before tax (£ million) | 281 | 463 |
- (1) Financial performance measures prefixed with “Adjusted/Adj.” are stated after adjusting for exceptional items and certain remeasurements (including impairment of non-current assets, proceeds from legal claims, change in fair value of financial instruments and impact of tax rate changes). Adj. EBITDA and EPS measures exclude earnings from associates and amounts attributable to non-controlling interests.
- (2) Earnings before interest, tax, depreciation, amortisation, other gains and losses and impairment of non-current assets, excluding the impact of exceptional items and certain remeasurements, earnings from associates and earnings attributable to non-controlling interests.
- (3) In January 2023 the UK Government introduced the Electricity Generator Levy (EGL) which runs to 31 March 2028. The EGL applies to the three biomass units operating under the RO scheme and run-of-river hydro operations. It does not apply to the Contract for Difference (CfD) biomass or pumped storage hydro units. EGL is included in Adj. EBITDA and amounted to £114 million in H1 2024 (H1 2023: £35 million).
- (4) Net debt is calculated by taking the Group’s borrowings, adjusting for the impact of associated hedging instruments, and subtracting cash and cash equivalents. Net debt excludes the share of borrowings and cash and cash equivalents attributable to non-controlling interests. Borrowings includes external financial debt, such as loan notes, term-loans and amounts drawn in cash under revolving credit facilities. Net debt does not include financial liabilities such as pension obligations, trade and other payables, lease liabilities, working capital facilities linked directly to specific payables that provide short extension of payment terms of less than 12 months and balances related to supply chain finance. Net debt includes the impact of any cash collateral receipts from counterparties or cash collateral posted to counterparties.
