CLP Holdings Limited (00002) released its 2025 annual results, reporting operating earnings before fair value movement of HK$10.69 billion, a 2.40% decrease compared to the previous year. Total earnings stood at HK$10.47 billion, reflecting a 10.80% decline year-on-year, while consolidated revenue declined by 3.20% to HK$88.02 billion.

The company’s Board declared total dividends of HK$3.20 per share for 2025, an increase from HK$3.15 per share in 2024. This included a fourth interim dividend of HK$1.31 per share. CLP Holdings attributed the earnings performance partly to lower retail margins in Australia and reduced contributions from nuclear and renewables assets on the Chinese Mainland.

In Hong Kong, electricity sales declined by 1.00% to 35,760GWh. The business recorded a 7.30% increase in operating earnings before fair value movement to HK$9.54 billion, boosted by higher investments in fixed assets and lower interest costs. On the Chinese Mainland, commissioning of a 100MW/200MWh battery storage system and multiple new wind and solar projects added over 300MW of capacity during the year. However, increased competition led to lower tariffs for certain nuclear assets.

EnergyAustralia’s wholesale generation business achieved higher returns through flexible operations despite reduced generation volumes, while the retail segment faced stiff market competition. Apraava Energy in India reported lower contributions due to an impairment on a transmission asset, although it progressed with solar, wind and smart metering projects. In other markets, the Ho-Ping Power Station in Taiwan Region maintained higher generation, while lower fuel cost recoveries contributed to reduced earnings.

As of 31 December 2025, the company recorded total assets of HK$238.64 billion, total liabilities of HK$121.22 billion, and a net debt to total capital ratio of 33.0%. The company highlighted ongoing decarbonisation initiatives in Hong Kong, the Chinese Mainland, Australia, and India, with stronger commitments to renewable energy, battery storage, and grid investments to support long-term sustainability and operational growth.

A fourth interim dividend of HK$1.31 per share will be paid on 24 March 2026 to shareholders registered by 13 March 2026. The annual general meeting is scheduled for 8 May 2026.