Pavan Mahbubani
Analyst, JP Morgan
Replay available
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG) Q4 2026 Earnings Call
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NYSE: NGG) Q4 2026 earnings conference call, held 2026-05-14. Replay captured from the company's public earnings webcast.
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Replay transcript excerpt
WEBVTT 00:00:01.803 -- 00:00:07.084 Good afternoon, everyone, and welcome. Thank you to those of you joining us in the room 00:00:07.084 -- 00:00:12.005 and online. I've been really looking forward to presenting to you today. 00:00:12.005 -- 00:00:17.326 As Chief Executive, my ambition is clear, to build on National Grid's strong 00:00:17.326 -- 00:00:18.786 foundations, 00:00:18.786 -- 00:00:24.108 sharpen execution, and advance us as a world-class business. 00:00:24.108 -- 00:00:29.209 Strong execution is the foundation of confidence for customers, 00:00:29.209 -- 00:00:34.211 regulators, governments, and investors. And we must continue to 00:00:34.211 -- 00:00:40.152 transform our business as the external environment changes at pace. 00:00:40.152 -- 00:00:45.313 Let me start with our full year results. These strong results demonstrate the momentum 00:00:45.313 -- 00:00:50.755 we're building. We delivered a step up in capital investment of more than 20% 00:00:50.755 -- 00:00:57.356 to £11.6 billion, driving asset growth of 10.9%. 00:00:57.356 -- 00:01:01.327 Underlying operating profit increased to £5.7 billion, 00:01:01.327 -- 00:01:06.408 reflecting strong operational delivery. This supported 8% growth in 00:01:06.408 -- 00:01:11.849 underlying earnings per share at constant currency in line with our guidance. 00:01:11.849 -- 00:01:17.150 We also grew our dividend per share by 3.8% in line with UK CPIH 00:01:17.150 -- 00:01:18.631 inflation. 00:01:18.631 -- 00:01:22.691 These results show we are delivering on our commitments. 00:01:22.691 -- 00:01:28.112 They also provide the reference point for the observations I've made since arriving 00:01:28.112 -- 00:01:32.613 and the strategic priorities we're now driving forward. 00:01:32.897 -- 00:01:38.360 Since becoming...