Commodity prices and spreads 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 2011 As…
Financial headlines Year ended 31 December 2010 2009 CONTINUING OPERATIONS: Revenue (m) 22,423 21,963 Adjusted operating profit (m) 2,390 1,857 Net interest expense (m) 265 179 Effective tax rate 37% 33% GROUP RESULT: Earnings…
Operating profit analysis Year ended 31 December (m) 2010 2009 Downstream UK 1,216 1,011 Upstream UK 771 525 Storage UK 169 168 North America 234 153 ADJUSTED OPERATING PROFIT 2,390 1,857 Share of JV / associates interest and…
Operating profit analysis Downstream UK Year ended 31 December (m) 2010 2009 Downstream UK 1,216 1,011 Upstream UK 771 525 Storage UK 169 168 North America 234 153 ADJUSTED OPERATING PROFIT 2,390 1,857 Above figures include…
Downstream UK: operating profit & key drivers Residential energy revenue (m) and margin (%) Year ended Full year H2 31 December (m) 2010 2009 8,359 Residential energy 742 598 7,911 Residential services 241 230 3,876 3,485…
Operating profit analysis Upstream UK Year ended 31 December (m) 2010 2009 Downstream UK 1,216 1,011 Upstream UK 771 525 Storage UK 169 168 North America 234 153 ADJUSTED OPERATING PROFIT 2,390 1,857 Above figures include…
Upstream UK: operating profit & key drivers Gas & oil production volumes Year ended Gas Liquids 31 December (m) 2010 2009 (mmth) (mmboe) Upstream gas and oil 581 444 2,533 Power generation 226 147 I&C (36) (93) 1,708 Energy…
Operating profit analysis Storage UK Year ended 31 December (m) 2010 2009 Downstream UK 1,216 1,011 Upstream UK 771 525 Storage UK 169 168 North America 234 153 ADJUSTED OPERATING PROFIT 2,390 1,857 Above figures include share…
Operating profit analysis North America Year ended 31 December (m) 2010 2009 Downstream UK 1,216 1,011 Upstream UK 771 525 Storage UK 169 168 North America 234 153 ADJUSTED OPERATING PROFIT 2,390 1,857 Above figures include…
North America: operating profit & key drivers Year ended Residential energy 31 December (m) 2010 2009 Revenue (m) Underlying Residential energy 177 94 margin (%)* underlying performance 177 155 one-off charges - (61) 2,644 2,502…
Cash flow Year ended 31 December (m) 2010 2009 OPENING NET DEBT (3,136) (511) EBITDA 3,188 2,559 Working capital movements (252) 419 Margin calls 467 (79) Interest and tax (819) (700) Net capex (1,669) (4,011) Dividends (668)…
Capital and acquisition expenditure Year ended 31 December (m) 2010 2009 2011e** UK upstream gas 475 333 700 UK upstream power 233 177 450 North America 87 103 100 UK gas storage 63 55 50 Europe 4 121 - British Gas 150 112 150…
Balance sheet Strong balance sheet position 475m bond buy-back completed, improving debt maturity profile 308m additional contributions to pension schemes in 2010 31 December (m) 2010 2009 1 Capital employed 9,575 9,306 2 Mark…
Exceptional items and certain re-measurements Year ended 31 December (m) 2010 Provision for onerous gas procurement contract (35) Impairment of North American gas assets (67) Provision for North American wind PPA (67) Impairment of…
Summary and outlook 2010 Strong financial and operational performance good progress downstream and upstream EPS up 16% to 25.2p Good downstream performance; lower profits in second half due to rising wholesale energy prices Higher…
Performance overview Strong operational and financial result EPS 16% Downstream UK growth underpinned by Op profit 20% customer service and competitive pricing Enlarged Upstream UK business; strong Op profit 47% production and…
Our Strategic Priorities 1 Grow British Gas . . . leading the transition to low carbon homes and businesses 2 Deliver value from our growing upstream business . . . securing sustainable energy for our customers 3 Build an integrated…
Grow British Gas Strong residential energy performance % Customer Satisfaction 30 market leading price reduction in 25 2010 2009 2007 February 2010 20 further NPS improvement 15 retained first place in Morgan 10 5 Stanley…
Grow British Gas British Gas Services Continued growth in services customer accounts Service delivery and value over 6m customers accounts now insurance based agreement with engineers to improve service flexibility Record…
Grow British Gas m BGB Operating profit British Gas Business 250 Continued growth in Business energy 200 25% CAGR profitability up 25% on average over 150 past five years success of volume-to-value 100 segmental growth strategy…
Grow British Gas New Energy Green deal go early strategy 64 million tonnes of CO2 reduction delivered under CERT to date, worth 1.1bn Over 250,000 smart meters installed Acquisitions to build capabilities new technologies (Cool…
Deliver value from our growing upstream business Gas and oil production Successful integration of Venture capabilities transformed Total production volumes up 43% Production replacement of 163% excellent drilling success; Trinidad…
Deliver value from our growing upstream business Production (bcfe) 350 300 250 In-flight / Core Future exploration prospects 200 Development options 150 Existing production - others 100 50 Morecambe (existing production) 0…
Deliver value from our growing upstream business Power generation Continued strong CCGT and wind availability Langage power station in full commercial operation strong optimisation performance British Energy well positioned to take…
Deliver value from our growing upstream business Storage BCF Historical Analysis (2005-2011) 140 Excellent operational performance at Rough 120 record demand in Q1 2010 80 record injection season unusually high levels of demand…
Build an integrated North American business Residential energy supply Strong downstream performance Operational improvements higher customer retention in Texas reduction in bad debt Texas prepaid offering launched operating margin…
Build an integrated North American business Business energy supply TWh Power volumes 50 Very strong performance in 2010 40 Electricity volumes up 19% 30 3rd largest C&I supplier in North America 20 Continued focus on: 10 growing…
Build an integrated North American business Services Clockwork integration progressing well materially enhances scale of the business 1m on-demand customers per annum robust platform for growth through established franchise model…
Drive superior financial returns 2010 summary Substantial profit growth in 2010 operating profit up 29% EPS up 16% Dividend up 12% Outlook Competitive market conditions in UK downstream energy supply Positioned for growth across…
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