Disclaimer This p presentation does not constitute an invitation to underwrite,, subscribe for,, or otherwise acquire or dispose of any Centrica shares or other securities. This presentation contains certain forward-looking…
Financial headlines Period ended 30 June 2010 2009 CONTINUING OPERATIONS: Revenue (m) 11,707 11,657 Adjusted operating profit (m) 1,563 945 Effective tax rate 37% 39% GROUP RESULT: Earnings (m) 886 537 Earnings per share (p)…
Operating profit analysis Period ended 30 June (m) 2010 2009 Downstream UK 842 472 Upstream UK 485 334 Storage UK 97 73 North America 139 66 ADJUSTED OPERATING PROFIT 1,563 945 Share of JV / associates interest and taxation (44)…
Operating profit analysis Downstream UK Period ended 30 June (m) 2010 2009 Downstream UK 842 472 Upstream UK 485 334 Storage UK 97 73 North America 139 66 ADJUSTED OPERATING PROFIT 1,563 945 Above figures Ab fi i l d joint…
Downstream UK: operating profit & key drivers Residential energy Period ended revenue (m) & margin (%) 30 June (m) 2010 2009 4 384 4,384 4 448 4,448 Residential energy 585 295 Residential services 109 112 13.2% Business 148 65…
Operating profit analysis Upstream UK Period ended 30 June (m) 2010 2009 Downstream UK 842 472 Upstream UK 485 334 Storage UK 97 73 North America 139 66 ADJUSTED OPERATING PROFIT 1,563 945 Above figures Ab fi i l d joint…
Upstream UK: operating profit & key drivers Gas & oil production volumes Period ended Gas Liquids 30 June (m) 2010 2009 (mmth) (mmboe) Upstream p gas g and oil 314 346 1,321 Power generation 127 43 I&C 46 (89) 939 6.0 Energy…
Operating profit analysis Storage UK Period ended 30 June (m) 2010 2009 Downstream UK 842 472 Upstream UK 485 334 Storage UK 97 73 North America 139 66 ADJUSTED OPERATING PROFIT 1,563 945 Above figures Ab fi i l d joint…
Operating profit analysis North America Period ended 30 June (m) 2010 2009 Downstream UK 842 472 Upstream UK 485 334 Storage UK 97 73 North America 139 66 ADJUSTED OPERATING PROFIT 1,563 945 Above figures Ab fi i l d joint…
North America: operating profit & key drivers Period ended Residential energy 30 June (m) 2010 2009 Revenue (m) Underlying Residential energy 110 46 margin (%)* underlying y gp performance 110 91 - (45) 8.0% one-off charges 1,454…
Cash flow Period ended 30 June (m) 2010 2009 FY 2009 OPENING NET DEBT (3,136) (511) (511) EBITDA 1,948 1,257 2,538 Working capital movements (337) (125) 419 Margin calls 410 (74) (79) Interest and tax (180) (379) (700) et cape…
Capital and acquisition expenditure (m) H1 2010 H1 2009 FY 2010e UK upstream gas 320 145 550 UK upstream power 65 73 250 North America 42 46 100 UK gas storage 31 30 50 Europe 6 49 - British t s Gas / ot other e 57 5 33 150…
Summary and outlook Summary Strong g financial and operational p p performance Profit heavily weighted towards the first half Strong downstream performance, reflecting improved service levels and customer growth growth,…
Overview Strong first half result Downstream: growth underpinned by customer service and pricing Upstream: strong asset performance performance, but continued impact of lower commodity prices Improved returns from North America…
Our Strategic Priorities 1 Grow British Gas . . . leading the transition to low carbon homes and businesses 2 Deliver value from our g growing g upstream p business . . . securing sustainable energy for our customers 3 Build…
Grow British Gas Strong H1 residential energy performance driven by customer service and competitive pricing position Service metrics remain strong online transactions increased call volumes and speed to answer down further net…
Grow British Gas Strong services operational performance Insurance penetration in Q1 during g record call out p period 100% 80% Continued customer growth in secondary 60% products 40% Almost 2m customers now on an 20%…
Grow British Gas Leading in the low carbon world Creating national insulation coverage 400 new jobs already filled Leaders in CERT and CESP Capabilities in biomass, heating, solar, fuel cell boilers, biomethane Building momentum…
Deliver value from our growing upstream business - Gas Successful integration of Venture empowered decision making and clear accountability comprehensive risk management programme in place Development projects success third well…
Deliver value from our growing upstream business - Gas Appraisal and exploration Cygnus field Cygnus appraisal drilling of western area successful exploration discoveries in Olympus, Fogelberg and Maria Ten wells drilled to…
Deliver value from our growing upstream business - Power Excellent CCGT reliability in well Langage, 885MW supplied pp market Langage in full commercial operation Completed JV agreement for Lincs contracts awarded and onshore…
Deliver value from our growing upstream business - Storage Excellent operational performance Record winter demand demand, supported by bcf Historical Analysis (2005-2010) enhanced withdrawal and injection 140 capabilities at…
Build an integrated North American business New management team in place Aim to double operating profit Encouraging initial progress against over next 3-5 3 5 years strategy Strong returns downstream, in excess of cost of capital…
Build an integrated North American business Residential energy supply reduced churn in Texas reduced operating cost base and lower debt levels; prepayment launched focus on customer quality and growth in US N th E North Eastt…
Build an integrated North American business Services market share 100% Clockwork Home Services acquired Major/ National Other for US182m ((122m)) 80% Large Reliance Local Sears Scale achieved in cost effective way Dwyer 60%…
Summary Strong g start to the yyear Good progress on strategic priorities Strong cash generation combined with financial discipline Optionality in investment programme Balanced business able to grow in both high and low…
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