SSE’s full-year revenue rose 1% to £10.2bn. Expanded renewable capacity and inflation-linked tariff increases in Transmission was largely offset by declines in other business units.
Underlying operating profit fell 8% to £2.2bn driven by a large, expected decline in Distribution profitability as last year’s performance benefitted from a periodic inflation adjustment.
Free cash outflows widened from £0.2bn to £0.7bn, driven by increased levels of infrastructure investment. Underlying net debt remained broadly flat at £10.1bn, helped by a £2.0bn equity raise in November 2025.
In the year ahead, investment spending is expected to increase from £3.6bn to over £5.0bn. Underlying earnings per share is expected to land between 168-193p (2026: 153.5p).
A final dividend of 47.3p per share was announced, taking the full-year total to 68.7p, up 7%.
The shares were broadly flat in early trading.
Our view
HL view to follow.
SSE key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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