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Drax Group PLC (DRX.L)

DRX.L on London Stock Exchange

420.00GBp
18 Oct 2018
Change (% chg)

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1,680,618
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423.50
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218.00

Latest Key Developments (Source: Significant Developments)

Drax Prices Offering Of Senior Secured Notes
Friday, 13 Apr 2018 04:00am EDT 

April 13 (Reuters) - Drax Group PLC ::PRICING OF OFFERING OF SENIOR SECURED NOTES DUE NOVEMBER 2025 TO REDEEM IN FULL SENIOR SECURED FLOATING RATE NOTES DUE MAY 2022.PRICED ITS OFFERING OF U.S. DOLLAR DENOMINATED SENIOR SECURED NOTES DUE NOV 2025 IN AN AGGREGATE PRINCIPAL AMOUNT OF $300.0 MILLION.  Full Article

Drax Says Unit Launches Offering Of U.S. Dollar Denominated Senior Secured Notes Due 2025
Friday, 6 Apr 2018 10:27am EDT 

April 6 (Reuters) - Drax Group PLC ::UNIT ‍DRAX FINCO LAUNCHED OFFERING OF U.S. DOLLAR DENOMINATED SENIOR SECURED NOTES DUE 2025, IN AGGREGATE PRINCIPAL AMOUNT OF $300 MILLION​.‍PROCEEDS WILL BE USED TO REDEEM IN FULL DRAX FINCO PLC'S OUTSTANDING SENIOR SECURED FLOATING RATE NOTES DUE 2022 ON OR AFTER 1 MAY​.  Full Article

Drax Says Agreed To Undertake £50m Share Buy Back Programme During 2018
Tuesday, 27 Feb 2018 02:02am EST 

Feb 27 (Reuters) - Drax Group Plc ::FINAL DIVIDEND 7.4 PENCEPER SHARE.FY EBITDA 229 MILLION STG VERSUS 140 MILLION STG YEAR AGO.‍FY EBITDA UP 64% TO £229 MILLION​.FY UNDERLYING EARNINGS PER SHARE DECREASED TO 0.7 PENCE.CONTINUE TO EXPECT FY ONGOING MAINTENANCE CAPITAL INVESTMENT OF £50-60 MILLION PER YEAR.ON APRIL 25,BOARD WILL RECOMMEND TO SHAREHOLDERS THAT A RESOLUTION IS PASSED TO APPROVE PAYMENT OF FINAL DIVIDEND FOR FY 2017 OF 7.4P/SHARE.BOARD HAS AGREED TO UNDERTAKE A £50M SHARE BUY BACK PROGRAMME DURING 2018 TO RETURN CASH TO SHAREHOLDERS.FY LOSS OF 183 MILLION STG VERSUS. PROFIT BEFORE TAX OF 197 MILLION STG AS REPORTED A YEAR AGO.REPORTED BASIC EARNINGS PER SHARE - A LOSS OF 37 PENCE FOR 2017.  Full Article

Drax Says ‍Capacity Market Agreements For Existing Coal Units​
Friday, 9 Feb 2018 02:02am EST 

Feb 9 (Reuters) - Drax Group Plc ::‍CAPACITY MARKET AGREEMENTS FOR EXISTING COAL UNITS​.‍CONFIRMS IT PROVISIONALLY SECURED AGREEMENTS TO PROVIDE TOTAL OF 1,217MW OF CAPACITY (DE-RATED FROM 1,382MW)FROM TWO EXISTING COAL UNITS​.‍AGREEMENTS ARE FOR DELIVERY PERIOD OCTOBER 2021 TO SEPTEMBER 2022, AT A PRICE OF £8.40/KW (2) AND ARE WORTH £10 MILLION​.‍TWO OPEN CYCLE GAS TURBINE (OCGT) PROJECTS PARTICIPATED IN AUCTION BUT EXITED ABOVE CLEARING PRICE​.‍DRAX EXPECTS THAT THESE PROJECTS WILL NOW GO ON TO PARTICIPATE IN NEXT T-4 AUCTION​.  Full Article

Drax Group Says Biomass Deliveries Currently Restricted Due To ‍Biomass Outage
Wednesday, 20 Dec 2017 02:00am EST 

Dec 20 (Reuters) - Drax Group Plc ::BIOMASS OUTAGE AT DRAX POWER STATION​.‍FOLLOWING UNPLANNED OUTAGE ON RAIL UNLOADING FACILITIES AT DRAX POWER STATION, BIOMASS DELIVERIES ARE CURRENTLY RESTRICTED.‍IN ORDER TO OPTIMISE AVAILABLE SUPPLIES, GENERATION ON TWO ROC (1) UNITS HAS BEEN REDUCED​.‍TWO UNITS WILL THEN BE TAKEN OFFLINE FOR A SHORT PERIOD; CFD (2) UNIT AND COAL OPERATIONS REMAIN UNAFFECTED.​.‍OUTAGE ON RAIL UNLOADING FACILITIES IS EXPECTED TO BE COMPLETED DURING JAN 2018, AT WHICH POINT ROC UNITS SHOULD RETURN TO SERVICE​.‍REFLECTING OUTAGE AND REDUCED GENERATION ON ROC (1) UNITS, DRAX CURRENTLY EXPECTS A REDUCTION IN EBITDA (3) OF £10 MILLION IN 2017​.  Full Article

Drax Group Says Full-Year Expectations Remain Unchanged
Tuesday, 12 Dec 2017 02:00am EST 

Dec 12 (Reuters) - Drax Group Plc ::‍SINCE ITS HALF YEAR RESULTS, TRADING CONDITIONS IN MARKETS IN WHICH DRAX OPERATES HAVE REMAINED IN LINE WITH EXPECTATIONS​.‍RETAIL OPERATIONS SINCE HY RESULTS REMAIN IN LINE WITH EXPECTATIONS​.‍EXPECTATIONS REMAIN UNCHANGED​.‍CONTINUES TO DEVELOP OPTIONS FOR 1.2GW OF NEW OPEN CYCLE GAS TURBINE (OCGT) CAPACITY​.‍FIRST TWO PROJECTS - PROGRESS POWER AND HIRWAUN POWER - WILL PARTICIPATE IN NEXT CAPACITY MARKET AUCTION IN FEBRUARY 2018​.‍NEGOTIATIONS FOR ENGINEERING AND CONSTRUCTION CONTRACTS ARE PROGRESSING WELL​.  Full Article

Drax Group appoints Den Jones as interim CFO
Friday, 27 Oct 2017 02:00am EDT 

Oct 27 (Reuters) - Drax Group Plc ::DRAX GROUP PLC - APPOINTMENT OF INTERIM CHIEF FINANCIAL OFFICER.‍DEN JONES HAS BEEN APPOINTED AS INTERIM CFO OF GROUP FROM 1 NOVEMBER 2017 AND WILL WORK WITH WILL GARDINER TO ENSURE A SMOOTH TRANSITION​.  Full Article

Drax Group updates on ‍sale of Billington Bioenergy​
Wednesday, 25 Oct 2017 02:09am EDT 

Oct 25 (Reuters) - Drax Group Plc :‍SALE OF BILLINGTON BIOENERGY​.‍SALE TO AGGREGATED MICRO POWER HOLDINGS 2 AND DEAL VALUE IS 2 MILLION STG, COMPRISED OF 1.6 MILLION STG OF SHARES IN AMPH AND 0.4 MILLION STG CASH​.‍SALE OF BBE IS ALIGNED WITH DRAX'S RETAIL STRATEGY, FOCUSED ON I&C 3 AND SME 4 ENERGY MARKETS​.‍THROUGH ITS SHAREHOLDING IN AMPH, DRAX WILL RETAIN AN INTEREST IN UK HEATING MARKET.  Full Article

Drax comments on National Grid's winter outlook report
Thursday, 12 Oct 2017 07:04am EDT 

Oct 12 (Reuters) - DRAX GROUP PLC ::DRAX POWER CEO ANDY KOSS RESPONDS TO NATIONAL GRID'S WINTER OUTLOOK REPORT 2017/18.‍"HAS UPGRADED HALF OF POWER STATION IN NORTH YORKSHIRE TO RUN ON BIOMASS INSTEAD OF COAL - 70 PCT OF OUR OUTPUT IS NOW RENEWABLE" - DRAX POWER CEO​."‍EXPLORING LOW COST OPTIONS FOR UPGRADING A FOURTH GENERATING UNIT FROM COAL TO BIOMASS" - DRAX POWER CEO​.  Full Article

Drax Group says Will Gardiner to be appointed as group CEO
Thursday, 21 Sep 2017 02:00am EDT 

Sept 21 (Reuters) - Drax Group Plc :Will gardiner, currently group chief financial officer, is to be appointed as group chief executive with effect from 1 january 2018.Appointment results from dorothy thompson's decision to step down after 12 successful years as group chief executive.Dorothy will leave group at end of 2017.  Full Article

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Drax profits hit by biomass plant outages, shares fall

LONDON British power producer Drax Group Plc reported a 16 percent fall in first-half earnings on Tuesday, partly related to outages at its biomass plants, sending its shares down more than 6 percent.