SSE (SSE) Trading update summary

Financial performance and guidance

• Adjusted EPS for FY 2025/26 expected between 147–152 pence, reflecting strong operational performance and strategic progress.

• Capital investment projected at around £3.5bn for the year, with adjusted net debt and hybrid capital just over £10bn.

• Liquidity position remains robust, totaling well over £5bn.

Networks and renewables update

• Networks capital investment up approximately 60% year-on-year, mainly driven by Transmission projects.

• Five of 11 major Transmission projects are under construction, with 26 of 34 major consents received.

• Renewable generation output expected to reach 14.5 TWh, a 10% increase year-on-year.

Operational and strategic highlights

• No immediate impact from Middle East developments due to resilient business mix.

• Operating profit expectations for other business units and previous guidance remain unchanged.

• SSEN Transmission accepted Ofgem's RIIO-T3 Final Determination and released an investor webinar.