Capturing Performance Improvement Opportunities
FINANCIAL RESULTS SUMMARY
FINANCIAL PERFORMANCE FOR PAST 5 YEARS
£m
Underlying revenue
Underlying operating profit/(loss)
Profit/(loss) for the year from continuing operations
Group FCF
Shareholder payments
DEBT
2022
2021
2020
2019
2018
12,691
10,947
11,430
15,450
15,067
652
414
(2,008)
808
616
158
10
(3,997)
306
305
505
(1,485)
(4,255)
873
568
(4)
(92)
(224)
(219)
31 December
(£m)
30 June 2023
Net debt
Credit ratings
2022
Issued Bond Notes¹
3,995
3,995
HY23 £(2.8)bn
Moody's6: Ba2
UKEF £1bn loan (undrawn) 2
1,000
1,000
FY22 £(3.3)bn
Fitch7: BB
UKEF £1bn loan (undrawn)³
1,000
1,000
FY21 £(5.2)bn
S&P8: BB
Revolving Credit Facility (undrawn) 4
2,500
2,500
All now positive outlook
Bank Loan Facility (undrawn)5
1,000
1. May 2028
2. March 2026
4. April 2025
5. January 2024
7. 4th October 2023
8. 13th March 2023
3. September 2027
6. 8th August 2023
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