SSE plc has reported a strong set of financial results for the year ending 31 March 2025, underscoring its pivotal role in the UK’s energy transition.
The company posted an adjusted operating profit of £2.42 billion and adjusted earnings per share of 160.9 pence, meeting its previously stated guidance.
The Board has recommended a full-year dividend of 64.2 pence per share, a 7% increase that highlights SSE’s ongoing commitment to rewarding shareholders.
This year saw SSE deliver a record capital investment of £2.9 billion, with around 90% channelled into renewables and electricity network upgrades.
This equates to roughly £8 million invested each day, supporting the UK’s net zero ambitions and reinforcing SSE’s leadership in the sector.
Major milestones included the completion of the Shetland HVDC link and the Viking wind farm, together representing over £1 billion in investment. Construction also began on EGL2, set to become the UK’s largest electricity transmission project.
However, in a significant development, SSE announced a £3 billion reduction in its five-year capital investment plan.
The company has revised its planned investment from £20.5 billion down to £17.5 billion, citing a challenging macroeconomic environment, project delays, and obstacles in planning and policy processes from both the UK and Scottish governments.
This cut will primarily impact renewables, reflecting slower-than-expected growth rates, increased costs, and delays in securing necessary consents for major projects.
Despite this adjustment, both the renewables and networks divisions delivered over £1 billion in adjusted operating profit for the first time, demonstrating the success of SSE’s strategic focus on renewables, networks, and system flexibility. Nearly half of the updated £17.5 billion investment plan is already committed to projects.
SSE’s financial position remains robust, with overall debt at £10.2 billion and leverage ratios improving since the start of the five-year investment programme.
The results reinforce SSE’s reputation as a dependable provider of inflation-linked earnings, supported by a portfolio of critical national infrastructure and a clear strategy for long-term growth.
Commenting on his last set of financial results as SSE’s Chief Executive, Alistair Phillips-Davies said: “SSE continues to prove the benefits of a portfolio that is built to withstand risk and uncertainty and a strategy that is focused on creating sustainable value.
“We have met our financial goals for the year and evolved our investment plans to reflect the changing world around us – leaning into the opportunities presented in networks and redoubling our capital discipline across our energy businesses.
“We are particularly well placed to contribute to future energy systems in our home markets built on renewables, networks and flexibility.
“This opportunity, alongside our balance sheet strength and the increased proportion of index-linked revenue we anticipate, gives us every confidence in our FY27 target of 175-200p earnings per share and sustainable growth to 2030 and beyond.”
With a strong financial foundation and a clear commitment to investing in the UK’s energy future – albeit at a slightly reduced scale – SSE is well-positioned to continue leading the country’s clean energy transition in the years ahead.
