Drax Group plc (OTCPK:DRXGF) Q4 2024 Results Conference Call February 27, 2025 4:00 AM ET
Company Participants
Will Gardiner – CEO & Executive Director
Andrew Skelton – Chief Financial Officer
Conference Call Participants
Dominic Nash – Barclays
Pavan Mahbubani – JPMorgan
Harrison Williams – Morgan Stanley
Alex Wheeler – RBC
Adam Forsyth – Longspur Capital
Charles Swabey – HSBC
Will Gardiner
Thank you, and good morning, everyone, and thank you all for joining the call. I’m going to provide a short introduction and overview, and then I’ll hand over to Andy, who will take you through the numbers and some of the operating points. And then I’ll come back to talk about some of our investment opportunities and more about capital allocation, and we’ll finish up with questions.
Now on Page 3. You’re all familiar with our purpose, which is to enable a zero-carbon, lower-cost energy future. I’ll start with that, as I always do, as it guides fundamentally everything that we do. Our strategy and business model are designed to deliver attractive returns for shareholders while realizing that purpose. We have a strong core cash-generative business that has a track record of achieving those joint objectives.
Now looking to the future, we have opportunities to invest in that core business to enhance shareholder returns as well as deliver positive outcomes for climate, nature, and people. And critically, our people are at the heart of Drax, where I want everyone to feel a valued member on a winning team with a worthwhile mission.
So turning to Page 4. We have had a strong year. Good safety performance is critical in its own right and also underpins good operating and financial performance. So I was pleased that our total recordable injury rate reduced in 2024 from 0.38 in ’23 to 0.24. We produced 25% more power than
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