John Pettigrew
CEO, National Grid
Replay available
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG) Q4 2024 Earnings Call
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NYSE: NGG) Q4 2024 earnings conference call, held 2024-05-23. Replay captured from the company's public earnings webcast.
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Investor webinar replay
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Replay transcript excerpt
WEBVTT 00:00:00.031 -- 00:00:03.034 Well, thank you, Nick, and good morning, everyone. 00:00:03.034 -- 00:00:07.879 It's great to see so many of you here this morning with others joining virtually. 00:00:07.879 -- 00:00:13.045 Today, we've made several important announcements, which launched a new phase of growth 00:00:13.045 -- 00:00:14.987 for National Grid. 00:00:14.987 -- 00:00:20.072 Alongside strong full year results, we're also setting out a significant step up 00:00:20.072 -- 00:00:23.476 in growth for the new five year financial framework. 00:00:23.476 -- 00:00:28.077 Around £60 billion of capital investment between now and 2029 00:00:28.077 -- 00:00:33.205 That's nearly double the past five years and driving annual group asset growth of around 00:00:33.205 -- 00:00:38.513 10% and a 6% to 8% EPS CAGR from an FY25 00:00:38.513 -- 00:00:40.215 baseline. 00:00:40.215 -- 00:00:44.922 All of which will be supported by a comprehensive financing plan that pulls on a range 00:00:44.922 -- 00:00:50.267 of levers, including a £7 billion equity raise. 00:00:50.791 -- 00:00:56.098 And as we enter this new phase of growth, we're updating our strategy to make National 00:00:56.098 -- 00:00:59.783 Grid the preeminent pure play networks business. 00:00:59.783 -- 00:01:02.487 So there's quite a bit for Andy and I to cover this morning. 00:01:02.487 -- 00:01:07.190 And as soon as we've done that, of course, we'll be happy to take your questions. 00:01:07.293 -- 00:01:12.500 So personally, this is the most exciting period I've seen, not just in our industry, 00:01:12.500 -- 00:01:16.365 but for National Grid since I started over 33 years ago. 00:01:16.365 -- 00:01:18.652 Let me just set the context. 00:01:18.652 -- 00:01:21.777 the energy transition is accelerating at pace. 00...