Drax Full-Year Report 2023
Drax performed strongly in 2023 and we remained the single largest provider of renewable power by output in the UK. We have created a business which plays an essential role in supporting energy security, providing dispatchable, renewable power for millions of homes and businesses, particularly during periods of peak demand when there is low wind and solar power.
Highlights
- Adj. EBITDA growth driven by system support services, renewable generation, and energy solutions (Customers)
- Strong liquidity and balance sheet – £639 million of cash and committed facilities at 31 December 2023
- New £258 million term-loan facilities with 2027-2029 maturities (February 2024)
- Proposed final dividend of 13.9 pence per share (2022: 12.6 pence per share) – 10% increase
- £150 million share buyback programme concluded