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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Centrica plc    CNA   GB00B033F229

CENTRICA PLC

(CNA)
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Real-time Quote. Real-time CHI-X - 12/11 11:30:00 am
81.63 GBp   +1.61%
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Centrica : British utility Centrica confirms full-year targets, lifts efficiency goals

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11/21/2019 | 03:06am EST

British utility Centrica is on track to meet its full-year cash flow and earnings targets and on Thursday raised its expected efficiency savings by 50 million pounds ($65 million).

Adjusted operating cash flow is expected to be in the lower half of its targeted 1.8-2.0 billion pound range, it said.

Centrica said its hedging strategy had insulated it from lower European wholesale gas prices, while a strong performance from its North American business helped to offset lower output from Britain’s nuclear fleet, in which it owns a 20% stake.

The company has been shifting towards consumer energy services and away from oil and gas exploration and large-scale power generation, as part of a move away from fossil fuels.

It has also launched the sale of exploration business Spirit Energy, a document seen by Reuters shows.

Efficiency savings for the year at Centrica are now expected at 300 million pounds compared with 250 million pounds indicated in its interim results in July.

The company previously said it expected to cut between 1,500 and 2,000 jobs on a like-for-like basis in 2019, as a part of the 4,000 cuts to 2020 announced last year.

Centrica chief executive Iain Conn said when presenting interim results in July that more jobs cuts could be announced with the company's full-year results in February.

Conn, who has been under pressure from shareholders because of Centrica's poor performance, also said earlier this year he would step down in 2020.

Shares in the company up around 4% in early trade.

"We see today's reassuring update as a first step forward, after several profit warnings since 2017," analysts at Jefferies said in a research note.

By Susanna Twidale

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Financials (GBP)
Sales 2019 28 883 M
EBIT 2019 977 M
Net income 2019 146 M
Debt 2019 3 418 M
Yield 2019 6,25%
P/E ratio 2019 17,3x
P/E ratio 2020 9,87x
EV / Sales2019 0,28x
EV / Sales2020 0,28x
Capitalization 4 720 M
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Technical analysis trends CENTRICA PLC
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 81,43  GBp
Last Close Price 80,06  GBp
Spread / Highest target 24,9%
Spread / Average Target 1,71%
Spread / Lowest Target -15,1%
EPS Revisions
Managers
NameTitle
Iain C. Conn Chief Executive Officer & Executive Director
Charles Andrew Berry Chairman
Christopher O'Shea Group Chief Financial Officer & Executive Director
Charles Cameron Director-Technology & Engineering
Mike Young Group Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
CENTRICA PLC-40.65%6 133
SEMPRA ENERGY34.79%41 574
NATIONAL GRID PLC16.55%40 852
ORSTED AS47.72%40 131
ENGIE15.09%38 567
ELECTRICITÉ DE FRANCE-32.09%31 686