SSE plc (LSE:SSE) Annual Report 2022



The latest annual report of SSE plc (SSE) was published on 31 Mar 2022. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - SSE Annual Results

Amounts in GBP

Total Revenue
8.61B
Gross Profit
4.4B
EBIT
3.33B
Net Tangible Assets
8.21B
Net Income
3.03B
Capital Expenditures
-1.27B

SSE Income Statement 2022 Annual Report

As per the latest Income Statement of SSE, the Net revenue increased by £1.7818B (26%) compared to the previous period. The operating income in 2022 increased by £1.5611B (88%). The net income as per the annual report was 3.03B which increased by £755.20M (33%) compared to previous year.

Income Statement Report (2022/2021)

2022 2021
Total Revenue 8.61B 6.83B
Gross Profit 4.4B 2.69B
Operating Income 3.33B 1.77B
Income Before Tax 3.48B 2.42B
Net Income 3.03B 2.28B

Balance Sheet - SSE 2022 Annual Report

Read further: SSE Balance Sheet Detailed Analysis

The latest balance sheet from annual result of SSE plc showed the company reduced the cash on balance sheet by £-550.90M (-34%). The Net tangible assets of SSE on the balance sheet were at 8.21B which is £2.2216B (37%) more than previous annual report. The total stockholder equity also increased by £2.4521B (37%) compared to previous reporting period.

Balance Sheet Statement Report (2022/2021)

2022 2021
Cash 1.05B 1.6B
Total Assets 25.76B 21.59B
Long Term Debt 7.86B 8.54B
Total Liabilities 16.59B 14.91B
Total Shareholder Equity 9.13B 6.68B
Net Tangible Assets 8.21B 5.98B

Cash Flow Statement - SSE 2022 Annual Report

The 2022 annual cash flow statement of SSE plc showed that the net income increased by £755.20M (33%) compared to previous reporting period. Also the capital expenditure of SSE decreased by £-288.60M (-29%).

As of 2022, the total cash from investing activities was -744.9M and total cash from financing activities was -1.43B.

Cash Flow Statement Report (2022/2021)

2022 2021
Net Income 3.03B 2.28B
Capital Expenditures -1.27B -985M
Dividends Paid -557.3M -844M
Total Cash From From Investing Activities -744.9M 443.7M
Total Cash From From Financing Activities -1.43B -825.3M

SSE plc Annual Report History

Income Statement

Income Statement history of SSE plc (LSE:SSE)

31 Mar 2022 31 Mar 2021 31 Mar 2020 31 Mar 2019
Total Revenue 8.61B 6.83B 6.8B 7.3B
Cost Of Revenue 4.21B 4.13B 4.78B 5.91B
Gross Profit 4.4B 2.69B 2.02B 1.39B
Research Development - - - -
Selling General Administrative 1.14B 1.19B 1.01B 949M
Non Recurring - - - -
Other Operating Expenses -71.4M -268.7M -24.4M -41M
Total Operating Expenses 5.28B 5.06B 5.77B 6.82B
Operating Income 3.33B 1.77B 1.03B 482.8M
Total Other Income Expense Net 151.6M 648.5M -440.6M 817.5M
Ebit 3.33B 1.77B 1.03B 482.8M
Interest Expense -361.8M -372.1M -374.4M -355.5M
Income Before Tax 3.48B 2.42B 587.6M 1.3B
Income Tax Expense 882.8M 224.3M 121.5M -9.9M
Minority Interest 40.6M 40.6M 40.6M 40.6M
Net Income From Continuing Ops 2.6B 2.19B 466.1M 1.31B
Discontinued Operations 482.7M 129.1M -478.6M 145.5M
Extraordinary Items - - - -
Effect Of Accounting Charges - - - -
Other Items - - - -
Net Income 3.03B 2.28B -59M 1.46B
Net Income Applicable To Common Shares 3.03B 2.28B -59M 1.41B

Balance Sheet Statement

Balance Sheet Statement history of SSE plc (LSE:SSE)

31 Mar 2022 31 Mar 2021 31 Mar 2020 31 Mar 2019
Cash 1.05B 1.6B 164.6M 431.6M
Short Term Investments 4.9M 3.8M 6.3M 3.8M
Net Receivables 2.04B 1.31B 1.4B 1.44B
Inventory 266.6M 234.9M 174M 228.5M
Other Current Assets 3.48B 1.19B 1.62B 3.31B
Total Current Assets 6.94B 4.52B 3.48B 5.46B
Long Term Investments 1.25B 1.65B 1.85B 1.9B
Property Plant Equipment 14.62B 13.25B 12.81B 12.43B
Good Will 512M 329.2M 340.9M 338.4M
Intangible Assets 414.7M 367M 333.8M 317.8M
Other Assets 2.03B 1.47B 2.22B 2.02B
Total Assets 25.76B 21.59B 21.03B 22.47B
Accounts Payable 919.7M 433.3M 413.2M 1.12B
Short Long Term Debt 74.3M 101.4M 58.5M 62.8M
Other Current Liab 1.1B 791.5M 1.49B 2.18B
Long Term Debt 7.86B 8.54B 8.31B 8.87B
Other Liab 3.75B 2.52B 2.21B 2.3B
Deferred Long Term Liab 201.1M 145.1M 426.7M 303.9M
Minority Interest 40.6M - - -
Total Current Liabilities 4.66B 3.51B 5.21B 5.31B
Total Liab 16.59B 14.91B 16.11B 16.68B
Common Stock 536.5M 524.5M 523.1M 523.4M
Retained Earnings 6.58B 3.92B 2.41B 3.29B
Treasury Stock 1.18B 1.39B 1.11B 1.1B
Capital Surplus 835.1M 847.1M 875.6M 879.6M
Other Stockholder Equity 1.18B 1.39B 1.11B 1.1B
Total Stockholder Equity 9.13B 6.68B 4.92B 5.79B
Net Tangible Assets 8.21B 5.98B 4.25B 5.14B

Cash Flow Statement

Cash Flow Statement history of SSE plc (LSE:SSE)

31 Mar 2022 31 Mar 2021 31 Mar 2020 31 Mar 2019
Net Income 3.03B 2.28B -59M 1.46B
Depreciation 667.6M 526M 504.6M 518.7M
Change To Netincome -2.17B -1.55B 823.9M -643.7M
Change To Account Receivables -625.6M 155.3M 155M -57.6M
Change To Liabilities 538.3M 420M -269.2M -116.8M
Change To Inventory 82.5M -71.7M 122.5M -3.4M
Change To Operating Activities 61.3M 36.1M -3M 23.8M
Total Cash From Operating Activities 1.63B 1.82B 1.3B 1.18B
Capital Expenditures -1.27B -985M -814.1M -1.23B
Investments 142.1M 182.5M 182.5M 182.5M
Other Cashflows From Investing Activities -652.8M -296.3M -186.2M -239.8M
Total Cashflows From Investing Activities -744.9M 443.7M -1.01B -722.5M
Dividends Paid -557.3M -844M -649.5M -736.5M
Net Borrowings -454M -520.8M 352.1M 582.9M
Other Cashflows From Financing Activities 11.2M 241M 3.7M -3.6M
Total Cash From Financing Activities -1.43B -825.3M -650.2M -159.6M
Change In Cash -550.9M 1.44B -362.2M 199.4M
Repurchase Of Stock -440.1M -762.9M -366.6M -3.6M
Issuance Of Stock 6.3M 1.06B 10.1M 1.2M