Sse Share Discussion Threads

[strutt12] 20/11/2018 11:29

@ 97.5p they are paying you an 8.8% dividend, when they split we'll have shares in the separate business and @ 80p they will still be paying 7.23% increased at least by RPI for a futher four years.
I'll take that ;-)

[eeza] 17/11/2018 23:56

Soon be back to the Big 6 (5? ).

[wad collector] 15/11/2018 14:23

Politics...
If Rees-Mogg becomes front runner, then Corbyn really might get in...
Or is it a teacup tempest and the two resignees are nobodies anyway?

[strutt12] 15/11/2018 14:09

What a difference a day makes,
twenty four little hours.
;-)

[wad collector] 14/11/2018 13:15

A lot of ponderables in today's statements. I suppose the interpretation rather depends on whether one views the BOD as being fundamentally honest , or trying to obfuscate.

[jrphoenixw2] 14/11/2018 12:35

I don't think it's a case 'signalling that poor results are good', sure the results didn't read well but the share price responds to market expectations of the results, versus the actual results. I didn't see estimates of market expectations this time but meanwhile assume the expectations were fearing (even) worse results.

And yes I think you're right, I suspect the market is sensing a potential spin-off from Renewable/Energy services...

[trader2] 14/11/2018 10:43

Are SSE aiming to break themselves up? - and ultimately float (whole or partial) Renewables and Energy Services and the rest? as separate entities? Market signalling that poor results are good - because they maintained the divvi or because someone is starting to apply sum of parts valuations?

[skinny] 14/11/2018 10:05

JP Morgan Cazenove Neutral 1163.50 1450.00 1230.00 Reiterates

[bountyhunter] 14/11/2018 08:46

header timetable updated

[veryniceperson] 14/11/2018 08:15

We'll done sir. Priced in so far

[yump] 14/11/2018 07:55

Depends how much of the news was already in the price.

[careful] 14/11/2018 07:54

accounts getting harder to understand.
at first glance terrible, and yet a 3% dividend increase (near 9%. FY)

same at VOD yesterday, a thumping loss after write downs followed by a share price surge because of the dividend.
If this falls the dividend yield will be even higher.

Are these high dividend shares becoming Ponzi schemes?

[veryniceperson] 14/11/2018 07:48

These will be well down today. Regulation are slowly destroying these energy companies.

[eeza] 14/11/2018 07:36

"Although our half-year results are slightly ahead of the position we set out in September, they fall well short of what we hoped to achieve at the start of the year," said SSE's chairman Richard Gillingwater.

"This is disappointing and regrettable, but important changes are now being made to the way SSE manages its exposure to energy commodities."


BBC Business News

[skinny] 14/11/2018 07:05

SSE plc plans to consolidate the development, operation and ownership of its renewable energy assets in the UK and Ireland under a single entity to be known as SSE Renewables.

The creation of SSE Renewables is a step towards SSE's vision of being a leading energy company in a low carbon world and is in line with SSE's commitment, set out in its Business Update in May 2018, to take forward a new business model that gives:

· greater focus on core businesses including renewables;

· investors greater visibility of assets and earnings;

· each of its businesses the best platform for future success.

Assets

SSE Renewables will comprise SSE's existing operational assets, and assets under development and construction in the UK and Ireland in:

· onshore wind;

· offshore wind;

· flexible hydro electricity;

· run-of-river hydro electricity; and

· pumped storage

The group's operational assets are currently expected to total over 4GW at 31 March 2019, with actual capacity subject to the potential sale of stakes of up to 50% in the Stronelairg and Dunmaglass onshore wind farms.

Markets

The assets of SSE Renewables are all in the UK and Ireland, and the business' focus will remain on those markets. In line with its Business Update in May, SSE is also seeking to extend its core competences in renewables energy to geographical areas beyond the UK and Ireland. The creation of SSE Renewables is expected to result in the creation of more opportunities in different markets, and SSE has begun the process of early assessment of potential opportunities.

Management

SSE Renewables will have its own and dedicated and experienced management team. Jim Smith currently SSE's Managing Director, Generation, has been appointed Managing Director Designate for SSE Renewables. Reporting to Wholesale Director Martin Pibworth, he will lead the work being done to prepare for the formation of the new entity, which is expected to be largely complete by the end of the current financial year. Management of and reporting in relation to the new entity is likely to begin in advance of its formal incorporation.

more.....

[skinny] 14/11/2018 07:03

14 November 2018

This report sets out the interim results for SSE plc for six months to 30 September 2018, which are ahead of the expectations set out in the Trading Statement and Notification of Close Period Statement issued on 12 and 25 September 2018 respectively.

Headline results (excluding SSE Energy Services)

Excluding SSE Energy Services, which is held for disposal:

· adjusted earnings per share is 19.6 pence (down 39.9%);

· adjusted profit before tax is £246.4m (down 40.9%);

· reported loss per share is 22.6 pence; and

· reported loss before tax is £265.3m.

SSE has also today announced the interim dividend per share for 2018/19 of is 29.3 pence, an increase of 3.2%.

SSE is today announcing that it will consolidate the development, operation and ownership of all of its renewable energy assets in the UK and Ireland under a single entity called SSE Renewables.

Revenue - adoption of IFRS15

As a consequence of adoption of IFRS 15 on 1 April 2018, optimisation trading revenue and costs of sales, which were previously presented gross, are now presented within cost of sales on a net basis. This has reduced revenue and cost of sales by £7.9bn in the six months ended 30 September 2018, with no impact on gross profit or the Group's cashflows.

Outlook
Dividend
SSE continues to intend to recommend a full-year dividend of 97.5 pence per share for 2018/19 and to deliver the five-year dividend plan set out in May 2018.

Adjusted operating profit (excluding SSE Energy Services)
The outlook for SSE's Networks and Wholesale businesses for the financial year to 31 March 2019 is in line with that set out in its Trading Statement:

· Adjusted operating profit for the Networks businesses is expected to increase by a mid-single digit percentage; and

· Performance of Wholesale businesses will continue to be dependent on the range of factors set out at the start of the financial year; Energy Portfolio Management (EPM), however, is now expected to incur a slightly lower than previously forecast adjusted operating loss for 2018/19, at around £300m, as a result of action taken since September.

Adjusted earnings per share (excluding SSE Energy Services)
Excluding the results for SSE Energy Services, which is now held for disposal, SSE currently expects to deliver adjusted earnings per share in the range of 70p to 75p for 2018/19 as a whole, which compares to 98.3p on a like for like basis for the year ended 31 March 2018.

The forecast adjusted EPS number excludes two gains on sale: £74.2m recognised from the sale in May 2018 of a further 14.9% stake in Clyde Wind farm. A further £53m is expected to be received as a distribution from the Environmental Capital Fund (in which SSE has a 48% stake) as a result of its sale of the independent gas transportation network Indigo Pipelines in November 2018.

more.....

[bountyhunter] 13/11/2018 15:36

yes but at the exact time of the split there will be no immediate change in overall value or there would be an arbitrage opportunity, i.e. the total capitalisation at that time will remain the same (I'm not allowing for any 'stupid divi schemes' which I don't thing there is any plan for) although it will of course be influenced by market factors from that point onwards

[scrwal] 13/11/2018 14:11

Per the original release SSE holders would hold just under 2/3rds of the new company. The number of shares is unknown.
The shareholding in SSE should remain the same.
The divi of 80p relates to the SSE business that isn't demerged - there is no info about the new co until the transaction circular is released.

The new co shares should be effectively free but the cost of the original SSE holding would need to be apportioned between the two - the exact calculation will be provided when the demerger of SSE takes place.

I am assuming the above is via capital transactions - I don't want it done via a stupid divi scheme as my holding is not in an ISA.

After the transactions have been completed who knows what the respective share prices will be , the SSE price could even rise.

[bountyhunter] 13/11/2018 13:56

value at the time of the split assuming market factors constant should be the same or there would be money to be made buying or selling ahead of the entitlement

[glasgow13] 13/11/2018 13:03

1 sse = 1 nc =2

[flatoutfred] 13/11/2018 09:40

OK I'm not the sharpest blade and I'm a we bit confused.

So, say I owe 10,000 shares (I don't)

When (if) companies merge do I then receive 10,000 shares in the new co. and are they FREE or at a discounted price.

Does this mean I now have 20,000 shares or is it just a way of saying your 10k in SSE are now defunct but we have generously given you 10k in the new co.

How can they set a divi price if the company does not exist yet and when will the Ex Divi date be.

Lastly (thank Gawd says all) what is the expected name of the new co. ??