Centrica plc (CNA) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

As usual I'm joined by our CFO Russell O'Brien and we've got our leadership team and our chairman sitting in the front row so if you get any really difficult questions they would be delighted to take them at the end of this. So we set out several years ago to make Centrica a higher quality more predictable business and that journey continues and in the face of sustained volatility around the world we've made more progress in the first half of 2026. Investing to support huge growth and power demand pivoting the portfolio towards more stable earnings and improving our commercial performance across retail. Now not everything's gone our way. The Middle East war has weighed on Centrica Energy and some of the delivery has been slower than I would like. and right across our portfolio, the job is far from done. You can see that in the numbers. Retail's not yet growing as we want it to and EPS is a little bit lower year on year. But that comes as we ramp up our transformation programme. We're investing in change that will set Centrica up for the future. We invested 90 million pounds in the first half, which is over a penny a share. If you strip that out, EPS would have grown 8% year on year. Our operational foundations are strong. Our product range is expanding. Our growth pipeline remains rich even after the significant investment over the past couple of years. Now our targets are ambitious, two billion pounds of EBITDA and doubling EPS by 2030. But by remaining nimble, driving transformation and keeping a clear eye on what we want Centrica to look like in the long term, I'm really confident that we can deliver these targets and grow further into the next decade. Unprecedented growth in power demand is a defining theme for the world over the coming years. It's a once in a li...