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Drax Group (DRX) investor relations material
Drax Group Trading Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Financial performance and outlook
Full year 2025 Adj. EBITDA expected at the top end of consensus estimates, reflecting strong operational and financial performance.
Targeting post-2027 Adj. EBITDA of £600-700 million per annum, underpinned by cost management and a new low-carbon CfD agreement.
Free cash flow target of £3 billion from 2025 to 2031, supporting £1 billion in shareholder returns and up to £2 billion for growth investments.
Over £2.3 billion in contracted forward power sales between 2025 and Q1 2027, with RO generation fully hedged for 2025 and 2026.
Ongoing share buyback programmes and interim dividend payments, with c.33 million shares repurchased for £216 million in 2025.
Growth and investment initiatives
Focused on expanding FlexGen (flexible generation) portfolio, including pumped storage, hydro, OCGT, and BESS assets.
£80 million investment in Cruachan Power Station upgrades, adding 40MW by 2027 and backed by 15-year Capacity Market agreements.
Acquisition of three BESS projects totaling 260MW, with staged payments through 2028.
Developing a GW-scale pipeline of BESS opportunities and providing market access for 2,000 third-party renewable assets.
Retaining OCGT assets in the FlexGen portfolio to support grid flexibility and decarbonisation.
Drax Power Station and data centre opportunities
Exploring options to utilise 4GW of site capacity and grid access for flexible, renewable energy and data centre development.
Preparing a planning application for a 100MW data centre, with ambition to grow to over 1GW post-2031.
Signed a CfD agreement to provide 6TWh of biomass generation annually from 2027-2031, with a mechanism to supply up to 500MW to a data centre.
Assessing long-term options for distributed, renewable power directly to data centres under long-term PPAs.
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- BTU
Q4 net income dropped, but Centurion mine ramp-up and U.S. demand drive future growth. - MPX
Q4 2025 sales jumped 35% but net income fell 45% amid higher costs and tax impacts. - RBX
Revenue up 29.7%, profit up 34.7%, and order book at R24.5bn, supporting a positive outlook. - ABFRL
Q3 FY26 net losses persisted despite revenue growth, amid restructuring and regulatory costs. - TRACXN
Q3 FY26 revenue was INR 21 crore with a net loss, but customer and account growth remained strong. - DWNI
Stabilized real estate values, strong rental demand, and major transactions drive results. - OCUL
Net loss widened in 2025 as clinical trials advanced, but cash runway extends into 2028. - VARROC
Revenue and EBITDA margin rose YoY, but exceptional costs and legal disputes weighed on profit. - PRIC
Record Q4 order intake, new contracts, and improved cash flow despite lower sales and profits. - ENSI
Record revenue growth, positive EBITDA, and strong outlook with cash flow positivity expected by end-2026.
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