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Results centre

Full year results 2019-20

Webcast
Statement
Presentation
Analysts consensus
Factsheet  
Transcript 
Debt presentation  
Debt call

"We have successfully implemented our business continuity plans in response to the COVID-19 pandemic, ensuring the well-being of our staff and customers, whilst maintaining continuity of service. I am proud of our response and contribution to help our customers and communities through these challenging times.

National Grid made good progress in 2019/20. We maintained high levels of reliability across our networks and delivered good financial performance. Asset growth of 9% was underpinned by record investment of £5.4 billion. We achieved continued regulatory progress in the UK, responded proactively to the challenges in downstate New York, whilst further developing our interconnector and renewable portfolios.

Looking ahead, whilst COVID-19 will impact our financial performance in FY21, we expect this to be largely recoverable over future years and therefore anticipate no material economic impact on the Group in the long-term. We continue to target asset growth of 5-7% in the near term and with an efficient balance sheet that underpins asset and dividend growth, the Group is well positioned to create value for shareholders."

John Pettigrew
Chief Executive

Half year results 2019-20

Webcast
Statement
Presentation
Analysts consensus
Factsheet  
Transcript 
Debt presentation  
Debt call

"We have successfully implemented our business continuity plans in response to the COVID-19 pandemic, ensuring the well-being of our staff and customers, whilst maintaining continuity of service. I am proud of our response and contribution to help our customers and communities through these challenging times.

National Grid made good progress in 2019/20. We maintained high levels of reliability across our networks and delivered good financial performance. Asset growth of 9% was underpinned by record investment of £5.4 billion. We achieved continued regulatory progress in the UK, responded proactively to the challenges in downstate New York, whilst further developing our interconnector and renewable portfolios.

Looking ahead, whilst COVID-19 will impact our financial performance in FY21, we expect this to be largely recoverable over future years and therefore anticipate no material economic impact on the Group in the long-term. We continue to target asset growth of 5-7% in the near term and with an efficient balance sheet that underpins asset and dividend growth, the Group is well positioned to create value for shareholders."

John Pettigrew
Chief Executive

Full year results 2018-19

Statement
Presentation
Analysts consensus
Factsheet  
Transcript 
Debt presentation  
Debt call

"We made good strategic progress across the Group last year, delivering £4.5bn of investment driving strong asset growth of 7.2%, all while maintaining reliability and safety across all of our networks.

During the year we launched new efficiency programmes to become a leaner, more agile organisation. In the US, we continued to make good regulatory progress and we reached agreement on new employment terms with unions in Massachusetts Gas. We delivered good returns in the UK and we made significant progress on our interconnector portfolio. We also took our first step into developing US renewable generation with the agreement to acquire Geronimo Energy.

Looking ahead, we will continue to contribute to the important regulatory agenda in the UK and the US, to create value for shareholders, and play a central role in driving decarbonisation. Having delivered almost £640m of savings for UK customers over the last six years, efficiency remains a key focus as does continued investment, which will increase to almost £5 billion each year for the next two years. We remain on track to achieve asset growth at the top end of our 5-7% range in the medium term."

John Pettigrew
Chief Executive

Half year results 2018-19

Statement
Presentation
Analysts consensus
Factsheet  
Transcript 
Debt presentation  
Debt call

"We made good strategic progress across the Group last year, delivering £4.5bn of investment driving strong asset growth of 7.2%, all while maintaining reliability and safety across all of our networks.

During the year we launched new efficiency programmes to become a leaner, more agile organisation. In the US, we continued to make good regulatory progress and we reached agreement on new employment terms with unions in Massachusetts Gas. We delivered good returns in the UK and we made significant progress on our interconnector portfolio. We also took our first step into developing US renewable generation with the agreement to acquire Geronimo Energy.

Looking ahead, we will continue to contribute to the important regulatory agenda in the UK and the US, to create value for shareholders, and play a central role in driving decarbonisation. Having delivered almost £640m of savings for UK customers over the last six years, efficiency remains a key focus as does continued investment, which will increase to almost £5 billion each year for the next two years. We remain on track to achieve asset growth at the top end of our 5-7% range in the medium term."

John Pettigrew
Chief Executive

Full year results 2017-18

Statement
Presentation
Analysts consensus
Factsheet
Transcript
Debt presentation
Debt call

"We delivered strong operational and financial performance in 2017/18. Our networks achieved high levels of reliability and safety and we increased customer driven investment to £4.3 billion. The US business continued to make significant progress enabling record levels of investment. In the UK, we continued to deliver incentive outperformance generating significant cost savings for customers. Consistent with our strategy, we continued the repositioning of our portfolio towards stronger growth with the recent agreement for the potential sale of our remaining interest in Cadent.

Looking ahead, National Grid expects growth at the top end of the 5-7% range for the medium term, and at least 7% in the near term, which we will deliver with continued capital discipline and improved efficiency across the Group. The business is well positioned with a balanced portfolio and an efficient balance sheet that underpins asset and dividend growth."

John Pettigrew
Chief Executive

Half year results 2017-18

Statement
Presentation
Analysts consensus
Factsheet
Transcript
Debt presentation
Debt call

"We delivered strong operational and financial performance in 2017/18. Our networks achieved high levels of reliability and safety and we increased customer driven investment to £4.3 billion. The US business continued to make significant progress enabling record levels of investment. In the UK, we continued to deliver incentive outperformance generating significant cost savings for customers. Consistent with our strategy, we continued the repositioning of our portfolio towards stronger growth with the recent agreement for the potential sale of our remaining interest in Cadent.

Looking ahead, National Grid expects growth at the top end of the 5-7% range for the medium term, and at least 7% in the near term, which we will deliver with continued capital discipline and improved efficiency across the Group. The business is well positioned with a balanced portfolio and an efficient balance sheet that underpins asset and dividend growth."

John Pettigrew
Chief Executive

Full year results 2016-17

Statement
Presentation
Analysts consensus
Factsheet
Transcript
Debt presentation
Debt call

"Last year was an important year for National Grid. We Invested record capex of £ 4.5 billion delivering a safe and reliable service for customers. Our focus on efficiency has also generated £460 million of saving for customers In the first half of the 8 year RIIO framework. We made significant progress In the year, with the successful completion of the UK Gas Distribution transaction, a good outcome on the rate fillings in the US and a positive conclusion to Import regulatory review in the UK.

National Grid is well positioned for the future with a rebalanced, higher-growth portfolio, and we are actively talking steps to evolve the business to meet the changing needs of our customers."

John Pettigrew
Chief Executive

Half year results 2016-17

Statement
Presentation
Analysts consensus
Factsheet
Transcript

"Last year was an important year for National Grid. We Invested record capex of £ 4.5 billion delivering a safe and reliable service for customers. Our focus on efficiency has also generated £460 million of saving for customers In the first half of the 8 year RIIO framework. We made significant progress In the year, with the successful completion of the UK Gas Distribution transaction, a good outcome on the rate fillings in the US and a positive conclusion to Import regulatory review in the UK.

National Grid is well positioned for the future with a rebalanced, higher-growth portfolio, and we are actively talking steps to evolve the business to meet the changing needs of our customers."

John Pettigrew
Chief Executive

Full year results 2015-16

Statement
Presentation
Analysts consensus
Factsheet
Transcript
Debt presentation
Debt call

"We will continue to enhance efficiency across the Group to deliver and outstanding and affordable service to our customers. At the same time, National Grid will continue to adapt to the new trends in the energy sector, to ensure we keep delivering value for shareholders."

John Pettigrew
Chief Executive

Half year results 2015/16

Statement
Presentation
Analysts consensus
Factsheet
Transcript
Debt presentation
Debt call

"We will continue to enhance efficiency across the Group to deliver and outstanding and affordable service to our customers. At the same time, National Grid will continue to adapt to the new trends in the energy sector, to ensure we keep delivering value for shareholders."

John Pettigrew
Chief Executive

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