2nd Apr 2025 08:29
(Alliance News) - SSE PLC on Wednesday narrowed its full-year guidance for earnings per share reflecting variable weather conditions.
The Perth, Scotland-based electricity generator expects earnings per share between 155 pence to 160p in the year to March 31 compared with 154p to 163p previously.
In the year to March 2024, SSE reported EPS of 158.5p, itself down from 166.0p the year before.
SSE said the updated guidance reflects expected renewables output of around 13.0 terawatt-hour, around 17% higher than a year prior, reflecting capacity additions and variable weather conditions which have continued in the final months of the year.
In the first nine months of financial 2025, renewables output rose 26%.
SSE's regulated networks businesses have continued to deliver strong operational performance, with operating profit expectations for the group's other business units remaining unchanged, the firm said in a statement.
Progress has continued on the net zero acceleration programme plus investment plan, SSE said, with around GBP3 billion of capital investment expected to be reported for the year.
SSE said this "disciplined investment" continues to be "underpinned by a strong and stable balance sheet", with adjusted net debt and hybrid capital expected to be around GBP10 billion at March 31.
SSE said it is focused on delivery of NZAP plus and reaffirms its target of 175p to 200p adjusted earnings per share for financial 2027.
The company expects to announce results for the 12 months to March 31 on May 21.
Shares in SSE were 0.6% higher at 1,590.50 pence each in London on Wednesday morning.
By Jeremy Cutler, Alliance News reporter
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