NEWS | 18 May 22

Centrica Energy Trading A/S Presents FY21 Earnings Report: Satisfactory performance under challenging market conditions

In 2021 Centrica Energy Trading has delivered satisfactory financial performance underpinned by increased customer activity, high people engagement scores and a robust financial and liquidity management framework.

2021 started with a newly formed management team (formed in the summer of 2020) implementing an ambitious strategy focussed on renewable energy trading to actively push towards Europe attaining net-zero status by 2050. Market conditions in 2021 drove higher demand from our customers and partners to provide products and solutions to help them manage long-term budget security. The satisfactory results delivered demonstrate that our renewable energy trading platform and robust risk management framework positions us as a reliable partner for our customers looking to accelerate and secure their investments in the renewable energy. Our results demonstrate strong delivery on our strategic plan, giving us full confidence that we are well on our way to meeting our strategic ambitions of being the best renewable energy trader in Europe and a global player.

The following highlights the key successes of our 2021 results:

  • Profit-before-tax of DKK 834 million, +167% YoY
  • Renewable Power Purchase Agreements completed: 104, +76% YoY
  • Trades completed: +5 million, +38% YoY
  • More than +90 new employees were onboarded
  • Colleague wellbeing reached 89% favourable responses

 

Kristian Gjerløv-Juel, Director of Route-to-Market Origination and Asset Management of Centrica Energy Trading said:

“The performance of our people and organisation through 2021 has been remarkable, and our solid performance reflects our ability to manage our risks well and to deliver for our customers. I have the utmost confidence that our strategy provides a strong foundation to successfully deliver growth in the years to come, continuing on our journey to become Europe’s best renewable energy trader and a leading world-class player.”

Mandeep Bamal, Director of Trading, Analytics and Algorithms of Centrica Energy Trading said:

“I’m truly proud of the performance and results delivered by the Centrica team in 2021. We successfully navigated turbulent market conditions and delivered stable growth in our data-driven energy trading business. This would not have been possible without the hard-work and commitment of our employees from all across the business, making it a true team success” 

A full overview of our financial results and highlights for the year can be found in our Centrica Energy Trading A/S Annual Report for 2021 available here

For further information, please contact:

Centrica Energy Trading
Marketing & Communication:

Offices
United Kingdom
Denmark
Germany
Sweden
Norway
Singapore
Power Assets
0.9GW
Trading Markets
0
Renewables
0GW
Total Headcount
incl. Students
0+
Locations
0