Feb 26 (Reuters) - British power company Drax Group beat annual profit expectations on Thursday, helped by strong pellet production in North America, and said it generated more renewable power in 2025 than ever before.
Drax has started a restructuring to align its organisation and cost base with its evolving strategy, including planned job cuts and a shift towards flexible power generation, battery storage and potential data-centre projects.
The company booked 378 million pounds in non‑cash impairment charge, citing a more challenging outlook for its Canadian operations as it reviews strategic options to maximise value.
It raised its full-year dividend by 11.5% to 29 pence per share, and said it sees 2026 adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in line with market view.
For 2025, Drax reported adjusted EBITDA of 947 million pounds ($1.28 billion), above the 914 million pounds expected by analysts, according to a company-compiled consensus.
($1 = 0.7378 pounds)
Reporting by Ankita Bora in Bengaluru; Editing by Subhranshu Sahu
Source: Reuters