Drax Group reports full-year results for the twelve months ended 31 December 2024, with an adjusted EBITDA of £1,064 million, net debt of £992 million, and dividend per share rising to 26 pence.
The company’s biomass generation increases 27% to 14.6 TWh, reflecting robust renewable output driven by its wood procurement strategy. Wood pellet production rises 5% to 4.0 million tonnes, with shipments increasing from 4.6 million tonnes to 5.1 million tonnes and 3.0 million tonnes consumed at Drax Power Station. Notably, the Aliceville, Alabama expansion commissioned in H1 2024 adds 130 thousand tonnes of capacity, and the company has secured heads of terms with Pathway Energy for a multi-year offtake agreement of 1 million tonnes per annum from 2029, with potential for an additional 2 million tonnes per annum, highlighting strategic moves in the wood products market.
