FRA:49P Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,576	3,440	2,923	2,647	2,396
Revenue Growth (YoY)	3.95%	17.69%	10.43%	10.48%	11.70%
Fuel & Purchased Power	1,411	1,418	1,190	988	822
Selling, General & Admin	379	403	341	340	336
Depreciation & Amortization	578	496	458	417	404
Other Operating Expenses	643	607	532	491	461
Total Operating Expenses	3,011	2,924	2,521	2,236	2,023
Operating Income	565	516	402	411	373
Interest Expense	-243	-226	-186	-163	-137
Net Interest Expense	-243	-226	-186	-163	-137
Allowance for Equity Funds for Construction	18	23	19	14	17
Allowance for Borrowed Funds for Construction	11	15	13	7	-
Other Non-Operating Income (Expenses)	21	22	25	3	14
EBT Excluding Unusual Items	372	350	273	272	267
Other Unusual Items	-13	-	-	-	-
Pretax Income	359	350	273	272	267
Income Tax Expense	53	37	45	39	23
Net Income	306	313	228	233	244
Net Income to Common	306	313	228	233	244
Net Income Growth	-2.24%	37.28%	-2.15%	-4.51%	57.42%
Shares Outstanding (Basic)	110	104	98	89	89
Shares Outstanding (Diluted)	111	104	98	90	90
Shares Change (YoY)	6.32%	6.34%	9.27%	0.02%	-0.02%
EPS (Basic)	2.77	3.01	2.33	2.61	2.73
EPS (Diluted)	2.77	3.01	2.33	2.60	2.72
EPS Growth	-7.98%	29.18%	-10.38%	-4.41%	58.14%
Free Cash Flow	-71	-490	-938	-92	-104
Free Cash Flow Per Share	-0.64	-4.70	-9.58	-1.03	-1.16
Dividend Per Share	2.075	1.975	1.877	1.788	1.698
Dividend Growth	5.06%	5.19%	5.04%	5.30%	7.10%
Profit Margin	8.56%	9.10%	7.80%	8.80%	10.18%
Free Cash Flow Margin	-1.98%	-14.24%	-32.09%	-3.48%	-4.34%
EBITDA	1,143	1,012	860	828	777
EBITDA Margin	31.96%	29.42%	29.42%	31.28%	32.43%
D&A For EBITDA	578	496	458	417	404
EBIT	565	516	402	411	373
EBIT Margin	15.80%	15.00%	13.75%	15.53%	15.57%
Effective Tax Rate	14.76%	10.57%	16.48%	14.34%	8.61%
Revenue as Reported	3,576	3,440	2,923	2,647	2,396

Source: S&P Global Market Intelligence. Utility template. Financial Sources.