Slide 1: H1 2014 Results
London Olympic power plant, UK Tarfaya, Morocco H1 2014 RESULTS July 31st, 2014
Slide 2: Key messages
Key messages • Solid H1 2014 results despite a number of exceptional items: very unfavorable hydrology in Latin America, warm weather in France, D3/T2 outage • Strong cash generation, financial flexibility strengthened • FY 2014 financial targets confirmed • Multiple levers to implement the growth s
Slide 3: Solid H1 2014 results despite exceptional items
Solid H1 2014 results despite exceptional items FY 2014 targets confirmed H1 2014 FY 2014 Δ 14/13(1) FINANCIAL TARGETS(6) H1 2014 w/o weather in €bn and gas tariff impact REVENUES 39.4 -0.6% • Net Recurring Income, EBITDA 6.6 -0.3% Group share(2): €3.3-3.7bn COI including share adjusted by -€40 mill
Slide 4: New set of successes further fueling growth
New set of successes further fueling growth West Coast Energy acquisition 1st production from Juliet, Amstel & Gudrun fields (North Sea) Power Cofely UK signs £300m IFM contract LNG Bunkering Gas & LNG Services Rotterdam thermal plant 2 offshore wind farms (2x500MW) Solar >100MW instal
Slide 5: Develop leadership towards energy transition in Europe
Develop leadership towards energy transition in Europe DEVELOPMENT IN RENEWABLES THROUGH PARTNERSHIPS • Target to commission ≥ 2 GW over 2011-17: ~60% already achieved • Successful offshore tender in France: 2 x 500 MW(1) • Development of biomethane injection in the French distribution network PREPA
Slide 6: Doel 3 and Tihange 2 recent developments
Doel 3 and Tihange 2 recent developments • In-depth test analysis currently on-going • No definitive conclusions expected before autumn 2014 • Impact of outage for both units Net Recurring Income, Group share: around -€40m/month Cash generation impact is much lower given payment of Belgian nucle
Slide 7: Update on Belgian nuclear contribution
Update on Belgian nuclear contribution • Decision of Belgian constitutional court on July 17th, 2014 GDF SUEZ request for annulment rejected GDF SUEZ considers the nuclear contribution as confiscatory • Next steps, GDF SUEZ to assess all legal means including international arbitrage and Europe
Slide 8: Confirmation of landing of energy merchant activities in Europe in 2015-2016
Confirmation of landing of energy merchant activities in Europe in 2015-2016 Achieved prices in line with expectations Limited exposure POWER €/MWh CWE outright: to German prices 65 GENERATION Forwards 2013 hedged volumes 60 Forwards 2014 and prices 42% Forwards 2015 55 Forwards 2016 2014: ~100% hed
Slide 9: H1 2014: operational performance year on year
H1 2014: operational performance year on year ENERGY Wind Load Factor Warm D3/T2 outage Power prices EUROPE weather (3 vs 5 months) & load factors Hydrology Brazil Peru Chile ENERGY Drought & COD of Peaky Ilo Improved margins INTERNATIONAL spot price exposure Uncontracted USA Thailan
Slide 10: Brazil: attractive prospects despite short-term impact of extreme hydro conditions
Brazil: attractive prospects despite short-term impact of extreme hydro conditions H1 2014 LONG-TERM • Performance adversely impacted by severe • Attractive outlook for power consumption: drought and exceptionally high spot prices ~+4.5%(1) p.a. • Availability of un-contracted thermal capacity • Req
Slide 11: COI and EBITDA evolution impacted by one-off items
COI and EBITDA evolution impacted by one-off items Lower D&A Δ 14/13 organic H1 2013(1) H1 2014 w/o weather and impairments in €bn gas tariff impact 7.7 6.6 -0.3% change in E&P EBITDA disposals COI including share 5.1 4.3 +5.8% in Net Income of Associates acquisitions/CODs in €bn +€0.6bn gro
Slide 12: Net Income and cash flow
Net Income and cash flow in €bn -13% +6.7% w/o weather NRIgs H1 2014 €2.1bn and gas tariff impact 2.4 (1.1) MtM below COI +0.4 +0.3 (0.1) 2.1 Reevaluation gains +0.6 +0.2 Net nuclear contribution -0.2 +0.4 NRIgs Δ INCOME Δ MINORITY NRIgs Others -0.3 Δ FINANCIAL INTERESTS H1 2013 RESULT TAX & OTHERS
Slide 13: Successful balance sheet optimization
Successful balance sheet optimization ACTIVE LIABILITY MANAGEMENT A well spread-out maturity profile • Largest green bond for €2.5bn in €bn at an historic low coupon at 1.9% 3,000,000,000 3 • New hybrid bond issue for €2bn strengthening the balance sheet 2,000,000,000 2 at a very low coupon of 3.4%
Slide 14: Executing our strategy (1/3) Power generation
Executing our strategy (1/3) Power generation % Work Country Project (% ownership) Expected COD Contractual status in progress 93% Jirau (40%) full assured 73% LT contracted incl. civil works 3,750MW hydro, 50 units energy: end 2015 11 units in operation Selection of Quitaracsa (100% EnerSur) H2 201
Slide 15: Executing our strategy (2/3) Gas value chain
Executing our strategy (2/3) Gas value chain % Work Country Project (% ownership) Expected COD Contractual status in progress Cameron (16.6% equity, 1/3 output) 4 mtpa tolling agreement FID planned 12mtpa brownfield liquefaction 2018-2019 26% already LT contracted August 2014 Selection of project la
Slide 16: Executing our strategy (3/3) Energy Services
Executing our strategy (3/3) Energy Services Strengthening leadership in Europe and creating strong local position abroad SELECTIVE ACQUISITIONS/GROWTH ALONG THE VALUE CHAIN ~ €0.9bn incremental revenues(1) 12 transactions Services • Facility management in €m • Technical maintenance Of which: (inclu
Slide 17: Conclusion
Conclusion FY 2014 financial targets confirmed Group is focused on strategy execution Further transform the European business towards energy transition Deliver on all projects New set of successes fueling further growth Portfolio of assets geared towards growth Resilient business portfolio c
Slide 18: Disclaimer
Disclaimer Forward-Looking statements This communication contains forward-looking information and statements. These statements include financial projections, synergies, cost-savings and estimates, statements regarding plans, objectives, savings, expectations and benefits from the transactions and ex
Slide 19: For more information about GDF SUEZ
For more information about GDF SUEZ +33 1 44 22 66 29 ir@gdfsuez.com http://www.gdfsuez.com/en/investors-area FOR MORE INFORMATION ABOUT H1 2014 RESULTS, YOU WILL FIND ON http://www.gdfsuez.com/en/investors/results/results-2014 2014 First-half Presentation Appendices Press Recorded Conference Financ