Results of business - Five year summary
| 2010 £m |
2009 £m |
2008 £m |
2007 £m |
2006 £m |
|
|---|---|---|---|---|---|
| Total Revenue | 1,648.4 | 1,475.8 | 1,752.8 | 1,247.4 | 1,387.0 |
| Fuel costs in respect of generation (1) | (840.9) | (691.0) | (858.4) | (470.6) | (547.5) |
| Cost of power purchases (2) | (165.8) | (209.5) | (211.8) | (75.5) | (93.8) |
| Grid charges (3) | (82.2) | (68.0) | (59.4) | (48.6) | (47.3) |
| Other retail costs(4) | (9.0) | (4.4) | - | - | - |
| Total cost of sales | (1,097.9) | (972.9) | (1,129.6) | (594.7) | (688.6) |
| Gross profit | 550.5 | 502.9 | 623.2 | 652.7 | 698.4 |
| Other operating & administrative expenses excluding depreciation, amortisation and unrealised losses on derivative contracts (5) | (159.9) | (148.0) | (169.0) | (147.1) | (115.4) |
| EBITDA (6) | 390.6 | 354.9 | 454.2 | 505.6 | 583.0 |
| Depreciation, amortisation and loss on disposal of property, plant and equipment | (52.2) | (52.0) | (46.4) | (43.7) | (34.9) |
| Exceptional operating income - final TXU claim proceeds | - | - | - | 6.2 | 19.0 |
| Unrealised (losses)/gains on derivative contracts | (60.5) | (129.7) | 56.3 | 3.3 | 90.8 |
| Operating profit | 277.9 | 173.2 | 464.1 | 471.4 | 657.9 |
| Net finance costs | (23.0) | (15.4) | (21.6) | (22.9) | (23.7) |
| Profit before tax | 254.9 | 157.8 | 442.5 | 448.5 | 634.2 |
| Tax charge | |||||
| -Before changes in tax legislation | (74.1) | (46.9) | (100.8) | (113.4) | (170.7) |
| -Impact of industrial building allowances withdrawal on defered tax | - | - | (8.8) | - | - |
| -Impact of change in rate of corporation tax on deferred tax | 7.6 | - | - | 17.9 | 0.0 |
| Total tax | (66.5) | (46.9) | (109.6) | (95.5) | (170.7) |
| Profit for the year attributed to equity shareholders | 188.4 | 110.9 | 332.9 | 353.0 | 463.5 |
| Earning per share | |||||
| Basic and diluted | 52 | 31 | 98 | 99 | 126 |
| Underlying basic and diluted (7) | 64 | 58 | 86 | 98 | 97 |
Notes:
(1) Fuel costs in respect of generation predominantly comprise coal and CO2 emissions allowances, together with petcoke and oil.
(2) Cost of power purchases represents power purchased in the market.
(3) Grid charges include transmission network use of system charges (”TNUoS”), balancing services use of system charges (”BSUoS”) and distribution use of system charges (”DUoS”).
(4) Other retail costs include broker fees, ROCs and metering.
(5) Other operating and administrative expenses excluding depreciation, amortisation and unrealised gains and losses on derivative contracts include salaries, maintenance costs and other administrative expenses.
(6) EBITDA is defined as profit before interest, tax, depreciation, amortisation, gains and losses on disposal of property, plant and equipment and unrealised gains and losses on derivative contracts.
(7) Calculated using underlying earnings, being profit attributable to equity shareholders adjusted to exclude the after tax impact of unrealised gains and losses on derivative contracts and the after tax impact of exceptional operating income.
