25 February 2021 - final results

Final results for the year ended 31 December 2020 have been released.  Although adjusted revenue fell from £4,457m to £4,235m, adjusted EBITDA from continuing and discontinued operations was £412m (2019: £410m), inclusive of an estimated £60m impact associated with Covid-19.  Increased pellet production, biomass cost reduction and renewable power generation offset the impact of Covid-19 on the Customers business. The total operating loss for the year was £156m, reflecting asset obsolescence charges and provisions for other costs following the announcement of the closure of coal generation at Drax Power Station.  Adjusted . . .

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