Company: NEWEN
Filing Date: 2025-05-15
Form Type: 6-K
Source: 0001654954-25-005651
Chunk: 68

Company: NATIONAL GRID PLC
Filing Date: 2025-05-15
Form: 6-K
Chunk 68
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 |      - |       1,389 |
| Other                          |     244 |       - |         244 |      - |         244 |
| Sales between segments         |    -143 |       - |        -143 |      - |        -143 |
| Total - continuing operations  |  19,850 |  -6,773 |      13,077 |   -915 |      12,162 |
| Discontinued operations        |       - |       - |           - |      - |           - |
| Total                          |  19,850 |  -6,773 |      13,077 |   -915 |      12,162 |

#### Adjusted profit measures
In considering the financial performance of our business and segments, we use various adjusted profit measures in order to aid comparability of results year-on-year. The various measures are presented on pages 12 to 19 and reconciled below.

Adjusted results : T hese exclude the impact of exceptional items and remeasurements that are treated as discrete transactions under IFRS and can accordingly be classified as such. This is a measure used by management that is used to derive part of the incentive target set annually for remunerating certain Executive Directors, and further details of these items are included in note 4 .

Underlying results : F urther adapts our adjusted results for continuing operations to take account of volumetric and other revenue timing differences arising due to the in-year difference between allowed and collected revenues, including revenue incentives, as governed by our rate plans in the US or regulatory price controls in the UK (but excluding certain totex-related allowances in NGET and adjustments or allowances for pension deficit contributions). For 2024/25, as highlighted below , our underlying results exclude £505 million (2023/24: £915 million) of timing differences as well as £87 million (2023/24: £226 million) of major storm costs (as costs, net of in-year allowances and deductibles exceeded our $100 million threshold in both years). We expect to recover major storm costs incurred through regulatory mechanisms in the US. Underlying results also exclude deferred tax in our UK regulated business (NGET and NGED). Our UK regulated revenues contain an allowance for current tax, but not for deferred tax, so excluding the IFRS deferred tax charge aligns our underlying results APM more closely with our regulatory performance measures.

Constant currency: 'Constant Currency Basis' refers to the reporting of the