Commodity prices and spreads 140 120 100 Oil (/boe) 80 UK gas (p/th) 60 UK power (/MWh) 40 20 US gas (p/th) 0 2009 2010 2011 30 25 Clean Dark Spread (/MWh) 20 15 Clean Spark Spread (/MWh) 10 5 0 2009 2010…
Financial headlines Period ended 30 June 2011 2010 CONTINUING OPERATIONS: Revenue (m) 11,509 11,707 Adjusted operating profit (m) 1,262 1,563 Net interest expense (m) 78 113 Effective tax rate 43% 37% GROUP RESULT: Adjusted…
Operating profit analysis Period ended 30 June (m) 2011 2010 Downstream UK 518 842 Upstream UK 531 485 Storage UK 39 97 North America 174 139 ADJUSTED OPERATING PROFIT 1,262 1,563 Share of JV / associates interest and taxation…
Operating profit analysis Downstream UK Period ended 30 June (m) 2011 2010 Downstream UK 518 842 Upstream UK 531 485 Storage UK 39 97 North America 174 139 ADJUSTED OPERATING PROFIT 1,262 1,563 Above figures include share of…
Downstream UK: operating profit & key drivers Residential energy revenue (m) and margin (%) Operating profit (m) Period ended 30 June 2011 2010 Residential energy 270 585 4,483 4,185 Residential services 111 109 Business 137 148…
Operating profit analysis Upstream UK Period ended 30 June (m) 2011 2010 Downstream UK 518 842 Upstream UK 531 485 Storage UK 39 97 North America 174 139 ADJUSTED OPERATING PROFIT 1,262 1,563 Above figures include share of…
Upstream UK: operating profit & key drivers Gas & oil production volumes Gas Liquids Operating profit (m) (mmth) (mmboe) Period ended 30 June 2011 2010 Gas 414 362 1,321 1,079 Power 117 123 UPSTREAM UK 531 485 6.0 6.9 H1 2010…
Operating profit analysis Storage UK Period ended 30 June (m) 2011 2010 Downstream UK 518 842 Upstream UK 531 485 Storage UK 39 97 North America 174 139 ADJUSTED OPERATING PROFIT 1,262 1,563 Above figures include share of…
Operating profit analysis North America Period ended 30 June (m) 2011 2010 Downstream UK 518 842 Upstream UK 531 485 Storage UK 39 97 North America 174 139 ADJUSTED OPERATING PROFIT 1,262 1,563 Above figures include share of…
North America: operating profit & key drivers Residential energy Operating profit (m) Revenue (m) Margin (%) Period ended 30 June 2011 2010 Residential energy 105 110 1,369 Business energy 58 44 1,290 8.0% 8.1% Services 9 8…
Cash flow Period ended 30 June (m) 2011 2010 FY 2010 OPENING NET DEBT (3,312) (3,136) (3,136) EBITDA 1,613 1,948 3,188 Working capital movements (317) (337) (252) Margin calls 123 410 467 Interest and tax (319) (180) (819) Net…
Capital and acquisition expenditure Period ended 30 June (m) H1 2011 H1 2010 2011e** UK upstream gas 240 320 600 UK upstream power 83 65 350 North America 29 42 50 UK gas storage 19 31 50 Europe 1 6 - British Gas 85 57 200 Other…
Exceptional items and certain re-measurements Period ended 30 June (m) 2011 Effect of change in UK supplementary corporation tax (204) Loss on disposal of Oxxio B.V. after taxation (56) EXCEPTIONAL ITEMS (260) Net re-measurements*…
Summary and outlook Summary Earnings decreased in H1 reflecting lower downstream profit higher wholesale costs and lower consumption Higher upstream profit strong nuclear generation performance higher achieved prices impacted by…
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Market environment Period of rising and volatile worldwide commodity prices unrest in the Middle East and North Africa Japanese natural disaster and nuclear events increasing importance of LNG North American gas and power prices…
H1 performance overview Good progress in first half in challenging market conditions, demonstrating resilience of Centrica business model Strong operational performance, both upstream and downstream continued improvement in health…
Grow British Gas Strong operational performance increase in residential energy accounts further improvement in NPS 10m online transactions Partnerships with Nectar and Sainsburys 3m customers registered on Nectar high value…
Grow British Gas British Gas Services Continued focus on service delivery and value same day call-out service over 85% of customer accounts now insurance based Consumer confidence impacting installations growth Full year profit…
Grow British Gas Home Energy Plan launched first supplier to launch a Green Deal offering Completed 100k insulation jobs 3.3Mt of lifetime carbon savings Largest UK installer of solar PV Over 350k Smart meters installed Progress…
Deliver value from our growing upstream business Gas & oil Continued strong operational performance Morecambe shut-in during May & June full year production expected to be c50mmboe Continued progress in our upstream gas…
Deliver value from our growing upstream business Power generation Strong nuclear performance output up 25% to 6.2TWh Improved wind yields Low clean spark spreads impacting CCGTs generation volumes down 40% four plants in…
Build an integrated North American business Continued progress in each line of business building on our existing platform in North America DE Residential Customers (m) Strong downstream performance 3 Gateway improved customer…
Build an integrated North American business DE Business Continued volume growth Further operating margin improvement high sales productivity, customer targeting and operational efficiencies DE Services Clockwork integration…
Drive superior financial returns H1 summary Strong operational performance across the Group Demonstrates resilience in difficult external environment Outlook Focus on maintaining competitive position cost reduction and…
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