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Drax Group PLC (DRX.L)

DRX.L on London Stock Exchange

290.00GBp
18 Sep 2019
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940,847
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Latest Key Developments (Source: Significant Developments)

Drax Group Says Acquisition Bridge Facility Refinancing Completed
Wednesday, 24 Jul 2019 

July 24 (Reuters) - Drax Group PLC ::DRAX GROUP PLC - ACQUISITION BRIDGE FACILITY REFINANCING COMPLETED.DRAX GROUP PLC - £125 MILLION ESG FACILITY MATURES IN 2022.DRAX GROUP PLC - £375 MILLION PRIVATE PLACEMENT WITH INFRASTRUCTURE LENDERS COMPRISES FACILITIES WITH MATURITIES BETWEEN 2024 AND 2029.DRAX GROUP PLC - FACILITIES EXTEND GROUP'S DEBT MATURITY PROFILE BEYOND 2027 AND REDUCE GROUP'S OVERALL COST OF DEBT TO BELOW 4 PERCENT.  Full Article

Drax Group HY Pretax Profit 4 Mln Stg Vs Loss Of 11 Mln Stg
Wednesday, 24 Jul 2019 

July 24 (Reuters) - Drax Group PLC ::DRAX GROUP PLC - HALF-YEAR REPORT.DRAX GROUP PLC - HY GROUP ADJUSTED EBITDA UP 35% TO £138 MILLION (H1 2018: £102 MILLION).DRAX GROUP PLC - INTERIM DIVIDEND UP 12.5% TO £25 MILLION (6.4 PENCE PER SHARE) (H1 2018: £22 MILLION, 5.6 PENCE PER SHARE).DRAX GROUP PLC - EXPECTED 2019 FULL YEAR DIVIDEND UP 12.5% TO £63 MILLION (15.9 PENCE PER SHARE) (2018: £56 MILLION).DRAX GROUP PLC - ON TRACK TO DELIVER 2X NET DEBT / ADJUSTED EBITDA BY YEAR END, ASSUMING REINSTATEMENT OF CAPACITY MARKET.DRAX GROUP PLC- HY PROFIT BEFORE TAX OF 4 MILLION STG VERSUS. LOSS OF 11 MILLION STG AS REPORTED A YEAR AGO.DRAX GROUP PLC - HY ADJUSTED REVENUE FOR PERIOD OF £2,227 MILLION INCREASED BY £148 MILLION FROM PRIOR PERIOD.  Full Article

Drax Group Says FY Group Adj. Core Earnings 250 Mln Stg
Tuesday, 26 Feb 2019 

Feb 26 (Reuters) - Drax Group PLC ::CONTINUE TO EXPECT CAPACITY MARKET TO BE REINSTATED ON SAME OR SIMILAR BASIS.FY GROUP ADJUSTED EBITDA UP 9% TO £250 MILLION.DRAX GROUP PLC SAYS FY DIVIDEND GROWTH OF 15 PERCENT INCREASE IN DIVIDEND PER SHARE OF 14.1 PENCE PER SHARE.DRAX GROUP PLC SAYS ADJUSTED PROFIT AFTER TAX INCREASED TO £42 MILLION IN 2018 FROM £3 MILLION IN 2017.DRAX GROUP PLC SAYS FY REVENUE £4,237.3 MILLION VERSUS. £3,685.2 MILLION.FY PELLET PRODUCTION INCREASED 64 PERCENT TO 1.351 MILLION TONNES.DRAX GROUP PLC SAYS FY ELECTRICITY OUTPUT (NET SALES) DOWN 8 PERCENT TO 18.3TWH (2017: 20.0TWH).GROUP ASSUMES £68 MILLION OF CAPACITY PAYMENT REVENUES IN 2019.  Full Article

Drax Completes Acquisition Of Scottish Power Portfolio
Wednesday, 2 Jan 2019 

Jan 2 (Reuters) - Drax Group PLC ::COMPLETED ACQUISITION OF SCOTTISH POWER PORTFOLIO.HAS COMPLETED ACQUISITION OF SCOTTISH POWER'S PORTFOLIO OF PUMPED STORAGE, HYDRO AND GAS-FIRED GENERATION.  Full Article

Drax Group Names Andy Skelton As Chief Financial Officer
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - Drax Group PLC ::ANDY SKELTON HAS BEEN APPOINTED AS CHIEF FINANCIAL OFFICER.SKELTON WILL SUCCEED DEN JONES, INTERIM CFO.SKELTON APPOINTMENT WILL TAKE EFFECT ON 2 JANUARY 2019.DEN JONES WILL REMAIN WITH COMPANY UNTIL JUNE 2019.  Full Article

Drax confirms in talks to buy power assets from Iberdrola
Monday, 24 Sep 2018 

Sept 24 (Reuters) - Drax Group PLC ::POSSIBLE ACQUISITION.CONFIRMS THAT IT IS IN DISCUSSIONS WITH IBERDROLA.DISCUSSIONS ARE PRELIMINARY IN NATURE.THERE CAN BE NO CERTAINTY OF ANY AGREEMENT OR TIMING OR TERMS OF ANY SUCH AGREEMENT.ANY POTENTIAL ACQUISITION WOULD BE FULLY DEBT FUNDED AND SUBJECT TO SHAREHOLDER APPROVAL.  Full Article

Deutsche Bank Discloses 6.13 Pct Stake In Drax Group- Filing
Wednesday, 22 Aug 2018 

Aug 22 (Reuters) - Deutsche Bank AG ::DEUTSCHE BANK AG DISCLOSES 6.13 PERCENT STAKE IN DRAX GROUP PLC - FILING.  Full Article

Drax Signs 40 Mln Stg Contract With Siemens For Turbine Upgrades
Tuesday, 31 Jul 2018 

July 31 (Reuters) - Drax Group PLC ::DRAX GROUP PLC - DRAX SIGNS £40 MILLION CONTRACT WITH SIEMENS FOR TURBINE UPGRADES.DRAX GROUP PLC - WORK ON TURBINE UPGRADES, WHICH STARTS IN 2019, WILL TAKE 3 YEARS TO COMPLETE, WITH 1 BIOMASS UNIT BEING UPGRADED EACH YEAR.  Full Article

Woodford Investment Management Cuts Stake In Drax To Less Than 5 Pct From 9.89 Pct- Filing
Monday, 30 Jul 2018 

July 30 (Reuters) - Drax Group PLC ::WOODFORD INVESTMENT MANAGEMENT CUTS STAKE IN DRAX PLC TO LESS THAN 5 PERCENT FROM 9.89 PERCENT- FILING.  Full Article

Drax Group Says FY expectations unchanged, H1 hit by two unplanned outages
Tuesday, 24 Jul 2018 

July 24 (Reuters) - Drax Group PLC ::INTERIM DIVIDEND 5.6 PENCEPER SHARE.H1 EBITDA 102 MILLION STG.H1 UNDERLYING EARNINGS OF 7 MILLION STG VERSUS. 9 MILLION STG.H1 DIVIDEND OF 5.6 PENCE PER SHARE.EXPECTED 2018 FULL YEAR DIVIDEND OF £56 MILLION.H1 LOSS BEFORE TAX OF 11 MILLION STG VERSUS. LOSS OF 104 MILLION STG.FULL YEAR FINANCIAL EXPECTATIONS UNCHANGED.COAL-TO-GAS REPOWERING - DETAILED PLANNING APPLICATION ACCEPTED FOR REVIEW JUNE 2018.FULL YEAR EBITDA EXPECTATIONS REMAIN UNCHANGED- CEO.H1 CAPITAL INVESTMENT OF £46 MILLION, FULL YEAR INVESTMENT EXPECTATION UNCHANGED AT £100-£110 MILLION.H1 NET DEBT OF £366 MILLION (31 DEC 2017: £367 MILLION), INCLUDING CASH ON HAND OF £245 MILLION.  Full Article

UPDATE 2-Drax first half profit boosted by Iberdrola deal

* Dividend up 12.5% (Updates with CEO comment, dividend details)