2017 Preliminary Results
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Centrica plc Preliminary Results
Disclaimer
Iain Conn, Group Chief Executive
Summary
2017 financial performance
Important questions we will address today
Jeff Bell, Group Chief Financial Officer
Commodity prices & weather
Financial headlines
Adjusted operating profit
Centrica Consumer
Consumer: adjusted operating profit drivers
Centrica Business
Business: adjusted operating profit drivers
Business: UK energy supply
Business: North America energy supply
Business: NA energy supply gross margin
Business: NA energy supply response
Business: DE&P and EM&T gross margin
Exploration & Production
Exploration & Production - CSL
Operating costs
Efficiency programme delivery
£750m p.a. cost efficiency programme delivered
Net investment
Cash flow
Debt repurchase programme
Credit rating metrics
Iain Conn, Group Chief Executive
Important questions we will address today
Centrica’s purpose
Fundamental trends in energy and services
Centrica’s strategy
Centrica’s simplified portfolio
Consumer and Business divisions
Consumer strategic framework
Business strategic framework
First phase of strategic repositioning complete
Next phase - priorities for performance delivery
£1.25bn per annum of cost efficiency 2015-20
New cost efficiency programme 2018-20
Customer-led gross margin growth
Consumer accounts and gross margin quality
Gross margin and cost efficiency – UK Home
UK energy supply - default tariff cap
Exposure to UK default tariff cap risk
British Gas household bills and profits
Consumer growth indicators
Connected Home growth
Connected Home competitive position
North America Business
North America Business performance
Distributed Energy & Power growth
Exploration & Production
Capability
Acquisitions and disposals
Strategy - conclusions
Group financial framework
2018-2020 guidance
Sources and uses of cash
2018 Group targets
Summary
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