S.N. Nuclearelectrica S.A. · BVB:SNN
S.N. Nuclearelectrica — 9M 2015 Earnings Presentation
22 slides from S.N. Nuclearelectrica's earnings presentation, November 2015
Slide 1: SNN Investors Day
SNN Investors Day The Quarterly Report for the nine POWERed by people months period ended on September 30th, 2015
Slide 2: Nuclearelectrica - overview: Company structure
Nuclearelectrica - overview Company structure NUCLEARELECTRICA Executive Office Bucharest Cernavoda NPP – Units 1&2 Nuclear Fuel Plant Pitesti Branch office Branch office • Safe & Efficient operation of Units 1 & 2 • Manufacturer of nuclear fuel bundles, for • Management of all Company assets in Cer
Slide 3: Nuclearelectrica – Shareholder structure
Nuclearelectrica – Shareholder structure • IPO for a 10% stake (new shares) • Subscription period: 9-20 September 2013 • Closed book for the institutional tranche • Oversubscription of 5,6 and 3,7 times for the two retail tranches (small subscription tranche fully subscribed by the end of day 2) • D
Slide 4: CANDU Technology Unit performance
CANDU Technology Unit performance Installed capacity factor U1 + U2 (%) (Cumulated 2015: 92,94%) Jan Feb Mar Apr May Jun Jul Aug Sept Installed capacity factor Cumulated installed capacity factor U1+U2 U1+U2 Global ranking (as of June 2015-last update) Candu Owner’s Group Unit capability factor (UCF
Slide 5: Radioactive emissions U1+U2 (microSv)
Radioactive emissions U1+U2 (microSv) Jan Feb Mar Apr May Jun Jul Aug Sept Emissions U1 Emissions U2 Total Total 2015: Annual limit: 3,642 13,00 CNCAN authorized limit: 100 microSv/ year/ unit + 50 microSv/ year/ DICA The legal limit for population (as per the Fundamental Radioprotection Norm NSR01)
Slide 6: Nuclear fuel burn up factor (MWh/KgU)
Nuclear fuel burn up factor (MWh/KgU) (Cumulated 2015: 174,47 /Project estimated: 156,00) Jan Feb Mar Apr May Jun Jul Aug Sept Burn up factor U1 Burn up factor U2
Slide 7: Produced electricity/ net U1 + U2 (MWh)
Produced electricity/ net U1 + U2 (MWh) (Produced electricity: 8.555.878 MWh/ Net electricity: 7.868.677 MWh) (Cumulated internal technological consumption 2015: 8,02%) Jan Feb Mar Apr May Jun Jul Aug Sept Produced electricity (MWh) Net electricity (MWh)
Slide 8: 9M 2015 Financial result highlights
9M 2015 Financial result highlights RON '000 9M 2015 9M 2014 Var % Qua nti ty of energy s ol d (Mwh) 7.936.795 7.979.608 -0,5% Sa l es of el ectri ci ty 1.219.931 1.226.012 -0,5% Opera ti ng expens es (845.178) (900.025) -6,1% EBITDA 459.719 421.602 9,0% EBIT 107.324 85.462 25,6% Net profit 131.189
Slide 9: Operating profit increased by 26% compared to 9M 2014
Operating profit increased by 26% compared to 9M 2014 Net result evolution (RON'000) Positive effect Negative effect 43,830 16,256 131,189 11,793 12,953 77,291 27,831 6,081 5,542 8,019 7,236 636 5,865 7,898 Net profit 30 Sales of Other income Personnel Cost of traded Repairs and Costs with Cost of u
Slide 10: Lowering power prices on PCCB affected the net result
Lowering power prices on PCCB affected the net result Sales structure and average prices • The quantity of energy sold on regulated contracts, on the competitive and balancing market is 7.936.795 MWh, above the sales planning of 7.881.574 MWh. Quantities sold (MWh) • 75% of the production was sold o
Slide 11: Sales of electricity slightly decreased by 0,5% compared to 9M 2014
Sales of electricity slightly decreased by 0,5% compared to 9M 2014 Electricity sales evolution (RON'000) increase decrease 27,487 176,326 162,870 248 19,864 1,226,012 1,219,931 Sales of Regulated price Regulated Competitive Competitive Green Sales of Electricity Sept quantity price quantity certifi
Slide 12: OPEX decreased by 6,1% compared to 9M 2014 and 10,8% below budget
OPEX decreased by 6,1% compared to 9M 2014 and 10,8% below budget Operating expenses ('000 RON) • Personnel expenses dropped by 2,5% due to the social security contribution decrease by 5 pp starting October 2014. The effect of this decrease was partially canceled by movements in the number of person
Slide 13: Company operation: NPP specific costs
Company operation NPP specific costs for the nine period ended on September 30, 2015 • Units 1 & 2 use approximately 11.000 fuel bundles/year which contain about 19kg of natural (non- Nuclear fuel costs enriched) uranium each. SNN’s Pitesti branch produces the required quantity. (RON 105m; 8,66% of
Slide 14: Q3 2015 Income statement
Q3 2015 Income statement Profit & Loss account 9M ended 9M ended Variation 3M ended 3M ended Variation Budget Variation 30.09.2015 30.09.2014 9M 30.09.2015 30.09.2014 3M 9M 2015 vs RON'000 (restated) (restated) Budget Revenues Sa l es of el ectri ci ty 1.219.931 1.226.012 -0,5% 428.139 442.919 -3,3%
Slide 15: Q3 2015 Financial position
Q3 2015 Financial position Individual Financial Statements - Financial Position Total current assets RON'000 30-Sep-15 31-Dec-14 Variation• The decrease in receivables is due to the reduction in value of other receivables, as a result of full collection of the rescheduled Total non-current assets 7.
Slide 16: Sales structure and average prices 2012 -2015
Sales structure and average prices 2012 -2015
Slide 17: CAPEX
CAPEX RON '000 Key investments Completion Budgeted Completion stage as at projects 2015 Project code Investment project 30.09.2015 2015 30.09.2015 % Intermediate Dry Spent Fuel Storage Facility (including Spent Fuel PJ-05-016 9.411 5.514 58,6% Loading Station U #2) PJ-04-001 Upgrading and expansion
Slide 18: Cernavoda NPP Units 3 and 4 Status update
Cernavoda NPP Units 3 and 4 Status update • Strategy for the continuation of the Cernavoda NPP Units 3 and 4 was approved by SNN GMS on August 22, 2014 • The strategy envisages the set up of Joint-venture between SNN and the Selected Investor, in which the SI owns at least 51% of the share capital.
Slide 19: Share capital increase with contribution in kind
Share capital increase with contribution in kind • Following EGMS Resolution no.2/29.04.2015 and BoD Decision no. 9455/11.08.2015, SNN will increase its share capital through contribution in kind in total amount of 3.550.110 RON, from the current value of 3.012.210.410 RON to 3.015.760.520 RON, by i
Slide 20: Disclaimer
Disclaimer This documents was prepared by Nuclearelectrica team only for this presentation purpose. This document cannot be understood anyway as an offer to sell/buy Nuclearelectrica shares. The document content is only for your information and all the statements other than statements of historical
Slide 21: SNN Investor Relations Executive Management
SNN Investor Relations S.N. Nuclearelectrica S.A. (SNN) www.nuclearelectrica.ro Stock: ISIN ROSNNEACNOR8 Tel.: +40 21 203 82 00 E-mail: investor.relations@nuclearelectrica.ro Executive Management Daniela Lulache - CEO dlulache@nuclearelectrica.ro Mihai Darie - CFO mdarie@nuclearelectrica.ro
Slide 22: Thank you!
Thank you!
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