LONDON (dpa-AFX) - While the impact of COVID-19 is still unfolding, Drax Group plc. (DRX.L), an electricity generation company, said Wednesday that its expectations for 2020 Adjusted EBITDA are currently in line with consensus, inclusive of an estimated potential impact from Covid-19 of 60 million pounds, principally in relation to its Customers business.
With 'robust trading and operational performance' in the first three months of 2020, the Group also said, its full-year expectations for the Group remain underpinned by good operational availability for the remainder of 2020.
In the Customers business, Drax has significantly increased its expectation of potential customer business failures and higher bad debt. Drax said it expects a full-year adjusted EBITDA loss for the Customers business, if the pandemic continues throughout 2020. The Group also noted it would closely monitor the impact on the Customers business and update the market accordingly.
In addition, the Group said 2019 final dividend of 9.5 pence per share will be paid in respect of 2019 performance and will update on its expectations for the 2020 full year dividend at the 2020 interim results on 29 July.
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