STRATEGY AND FINANCE
Delivering sustained real growth in the dividend
Full-year dividend up 5.1% to 84.2p per share
Targeting annual dividend increases above RPI inflation in 2013/14 and beyond
Adjusted earnings per share up 4.7% to 118.0p
Adjusted profit before tax up 5.6% to £1,410.7m
Exceptional charge of £584.7m; mainly continuing Wholesale market issues
Capital investment of £1,485.5m in 2012/13, expected to be c.£1.5bn in 2013/14
GB and Ireland acquisitions totalling £358.4m completed
Adjusted net debt and hybrid capital up £591.9m to £7.35bn
Medium/long-term funding, including hybrid capital, of £2bn secured at good rates
Average debt maturity of 10.6 years
NETWORKS
Keeping the lights on and supporting growth
Operating profit up 18.9% to £876.1m due to investment and revenue timing/profile
48.8% contribution to SSE operating profit
Capital investment in electricity networks up 27.4% to £623.0m
Estimated electricity transmission Regulated Asset Value (RAV) past £1bn mark
Total network RAV (inc share of SGN) up 8.1% to over £6.3bn
2013-21 Price Controls confirmed for SHE Transmission and Scotia Gas Networks
Successful operation to restore electricity on Arran and Kintyre in March 2013
RETAIL
Earning the right to make a profit
Operating profit of £410.1m, compared with £321.6m in 2012 and £400.5m in 2011
22.8% contribution to SSE operating profit (Energy Supply contribution 20.3%)
Energy Supply profit margin 4.2%; again below expected medium-term average
GEMA £10.5m proposed penalty for past licence breaches accepted
Around 5,000 Sales Guarantee payments 3 April to 17 May; average payment of £80
Balance of £5m Sales Guarantee fund to be paid to fuel poverty-related charities
Energy customer accounts (GB, Ire) down 80,000 (0.84%) to 9.47million
Average GB household gas consumption up 21%; electricity consumption up 5%
New Customer Charter launched, including new Customer Service Guarantee
WHOLESALE
Securing the energy people and businesses need
Operating profit down by 16.2% to £509.5m due to challenging market conditions
28.4% contribution to SSE operating profit
Output from gas-fired power stations down 60%; from coal-fired stations up 23%
2,000MW of existing GB thermal generation capacity to cease operation in 2013/14
Acquisition of thermal generation assets in Ireland completed in October 2012
220MW (net) of new capacity for renewable energy operational since 31 March 2012
Output of electricity from hydro down 33%; output of electricity from wind up 34%
Greater Gabbard claims settled; now confident about long-term structural integrity
£25.5m gas production assets acquisition completed in November 2012
£117m gas production assets acquisition completed in April 2013
