Drax Group plc released its half-year report for the six months ended 30 June 2024, highlighting a strong operational and financial performance. The report also mentions an improved outlook for 2024 and a ยฃ300 million share buyback. The companys adjusted EBITDA grew by 24%, from ยฃ417 million in H1 2023 to ยฃ515 million in H1 2024. Net debt decreased from ยฃ1,274 million in H1 2023 to ยฃ1,035 million in H1 2024. The interim dividend for H1 2024 was set at 10.4 pence per share, a 12.6% increase from the previous year. The report also discusses the companys financial outlook, progress towards EBITDA targets, and various business segments such as Pellet Production, Generation, and Energy Solutions. Additionally, the report covers topics like biomass generation, attractive investment opportunities, capital returns, and operational and financial reviews.
| Year | Adj. EBITDA (ยฃ million) | Net debt (ยฃ million) | Adj. basic EPS (pence) | Dividend per share (pence) |
|---|---|---|---|---|
| 2024 | 515 | 1,035 | 65.6 | 10.4 |
| 2023 | 417 | 1,274 | 46.0 | 9.2 |