Centrica (LSE:CAN) has completed the sale of a number of non-core European energy solutions operations, raising proceeds in excess of £80m. The divestments cover businesses in Italy, the Netherlands and Hungary, along with the Panoramic Power unit, and form part of the group’s ongoing efforts to simplify and refocus its portfolio.
The Italian and Dutch operations have been sold to Joulz, a portfolio company of 3i Infrastructure, while the Hungarian business has been transferred through a management buyout. The transactions mark another step in Centrica’s programme of exiting activities deemed non-core to its long-term strategy.
Chief executive Chris O’Shea said the disposals are designed to sharpen the focus of Centrica Business on priority growth and innovation areas, improving the group’s capacity to pursue new opportunities in its key markets. The move follows recent asset sales at Spirit Energy and highlights Centrica’s broader strategy of recycling capital from non-core assets into future investment. This includes increased exposure to large-scale, long-term infrastructure projects such as Sizewell C and the Grain LNG terminal, supporting a more infrastructure-weighted earnings and capital allocation profile over time.
From an investment perspective, Centrica’s outlook is supported by positive corporate actions, notably its ongoing share buyback programme and targeted strategic investments, which underpin shareholder returns. These positives are partially offset by valuation challenges linked to a negative price-to-earnings ratio and mixed technical signals in the shares.
More about Centrica
Centrica plc is a UK-listed energy group supplying electricity, gas and related services to residential and business customers. The company is steadily reshaping its portfolio, recycling capital from non-core operations into areas it views as strategic growth priorities, including regulated and contracted assets such as nuclear and LNG infrastructure.
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