2009 Performance Review Strong set of financial results Underpinned by a good operating performance A transformational year for the Group
British Gas Retail price cuts for customers Competitive prices and improved service delivered customer growth S t i bl levels Sustainable l l off profitability fit bilit Continued support for vulnerable customers
Upstream Businesses Reduced prices for oil and gas business Increasing our UK sources of energy Venture Production acquisition 20% stake in British Energy Advantageous position through gas production and low carbon generation mix
International Businesses North American business well placed for future growth Exiting our European downstream businesses
May 2010 Interim Management Statement Positive outlook for group earnings Full announcement at www.centrica.com
Sam Laidlaw Chief Executive
2009 Overview Strong set of financial results Good performance from British Gas Delivery of Centrica strategy
2009 Performance 1.85 billion operating profit Fall in Centrica Energy profits due to lower wholesale prices Combined British Gas profits of more than 1 billion Lower overall tax rate lifted earnings after tax to 1 1.11 11…
Changing energy markets and industry challenges Renewed focus on UK energy policy UK energy challenges Reduce carbon emissions Secure future energy supplies 200 billion industry investment required Similar trends emerging in…
Industry Challenges UK Government climate change targets 80% reduction in UK greenhouse gas emissions by 2050 15% of all UK energy from renewables by 2020 Decarbonising power generation with new nuclear and renewables
Delivering change requires a stable investment climate Market-based structures offer clear price signals to base future investment decisions 10 billion investment in gas import infrastructure already l d delivered d li d Carbon…
2007 Strategic Priorities: The first stage in the journey Our Strategic Priorities 1 Transform British Gas 2 Sharpen the organisation and reduce costs 3 Reduce risk through increased integration 4 Build on our growth platforms 2007…
UK Downstream British Gas Market leading price positions for dual fuel Significant customer service improvements Added 140,000 energy customer accounts in 2009 Added more than 200,000 in 2010 to date 200m pa cost savings…
UK Upstream Enhanced scale and capability of gas and oil business through acquisition of Venture Acquired 20% equity stake in British Energy Now more than 60% of residential gas and power supplied from our own resources
Building on our growth platforms British Gas Business and British Gas Services profits more than doubled in three years Strong underlying performance in Direct Energy
The Next Stage: Our New 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…
Grow British Gas . . . leading the transition to low carbon homes and businesses Developing a UK-wide energy services business Building on our distinctive capabilities National base of over 9,000 qualified engineers Serving 12…
Deliver value from our growing upstream business . . . securing sustainable energy for our customers Maximise value from our investment choices Access to a wide range of opportunities Targeting projects with the strongest returns…
Build an integrated North American business . . . with leading positions in deregulated markets Develop leading positions in chosen markets No. 1 or 2 energy supplier Grow our services capability Improve Impro e returns ret rns…
Drive superior financial returns . . . through operating performance and our investment choices Strong HSE and operating performance essential Maintain strong balance sheet Targeted investment to support strategy and capabilities…
Summary 2009 a transformational year for Centrica Original strategic priorities now delivered New strategic priorities established Well positioned for growth in a new low carbon world We remain focused on shareholder value
Loading...
