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Drax Group (DRX) investor relations material
Drax Group Trading Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Trading Update summary11 Dec, 2025
Financial performance and outlook
Full year 2025 Adj. EBITDA expected at the top end of consensus estimates, reflecting strong operational and financial performance.
Targeting post-2027 Adj. EBITDA of £600-700 million per annum, underpinned by cost management and a new low-carbon CfD agreement.
Free cash flow target of £3 billion from 2025 to 2031, supporting £1 billion in shareholder returns and up to £2 billion for growth investments.
Over £2.3 billion in contracted forward power sales between 2025 and Q1 2027, with RO generation fully hedged for 2025 and 2026.
Ongoing share buyback programmes and interim dividend payments, with c.33 million shares repurchased for £216 million in 2025.
Growth and investment initiatives
Focused on expanding FlexGen (flexible generation) portfolio, including pumped storage, hydro, OCGT, and BESS assets.
£80 million investment in Cruachan Power Station upgrades, adding 40MW by 2027 and backed by 15-year Capacity Market agreements.
Acquisition of three BESS projects totaling 260MW, with staged payments through 2028.
Developing a GW-scale pipeline of BESS opportunities and providing market access for 2,000 third-party renewable assets.
Retaining OCGT assets in the FlexGen portfolio to support grid flexibility and decarbonisation.
Drax Power Station and data centre opportunities
Exploring options to utilise 4GW of site capacity and grid access for flexible, renewable energy and data centre development.
Preparing a planning application for a 100MW data centre, with ambition to grow to over 1GW post-2031.
Signed a CfD agreement to provide 6TWh of biomass generation annually from 2027-2031, with a mechanism to supply up to 500MW to a data centre.
Assessing long-term options for distributed, renewable power directly to data centres under long-term PPAs.
Explain data centre power sourcing evolution
Why pause new pellet capacity investment?
What drives FlexGen portfolio composition?
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Next Drax Group earnings date
H2 202526 Feb, 2026
Next Drax Group earnings date
H2 202526 Feb, 2026
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Frequently asked questions
Drax Group plc is an energy company primarily engaged in renewable power generation, energy storage, and biomass production. The company operates one of the largest power stations in the UK, transitioning from coal to sustainable biomass, which forms a significant part of its renewable energy strategy. Drax also provides energy solutions to businesses, focusing on renewable electricity, energy efficiency, and carbon reduction. In addition, the company is involved in developing carbon capture and storage technologies as part of its goal to support a low-carbon economy. The company is headquartered in Selby, England, and its shares are listed on the LSE.
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