Adjusted EBITDA reduced from GBP1.22 billion in FY 2006-07 to GBP882 million in FY 2007-08, higher than market expectations due to strong realized prices in the final quarter, including recognition of ancillary and a number of non-recurring items.
Adjusted net profit for the year attributable to shareholders decreased to GBP470 million for the fiscal year 2007-08, compared to GBP770 million in the fiscal year 2006-07.
Bill Coley, CEO of British Energy, said: Despite disappointing financial performance, we have made good operational progress, with Sizewell-B operating to world-class standards and some best ever metrics being realized across the advanced gas-cooled reactor fleet.
We are well positioned to manage our existing fleet to the best advantage and look ahead to playing a pivotal role in the new build program.
