Redeia Corporacion Sa · BME:RED

Redeia Corporacion Sa — Red Eléctrica Corporación — H1 2017 Earnings Presentation

9 slides from Redeia Corporacion Sa's earnings presentation, Jul 27, 2017

  1. Slide 1: Results 1H2017

    Results 1H2017 27 July 2017 Results 1H2017 27 July 2017

  2. Slide 2: Results 1H2017

    Results 1H2017

  3. Slide 3: Significant events 1H2017

    Significant events 1H2017 Financial profit/loss  Net profit €340.1M, a 5.1% rise year‐on‐year.  Interim dividend payment for 2016 of €0.8587 per share, 7% up on 2015.  €200m euromarket bond issue with maturity of 9 years and a 1.065% cost.  S&P ratifies a ‘A‐’ credit rating with a stable outlook

  4. Slide 4: Highlights

    Highlights €M 1H16 1H17 2016‐17 Revenue 968 987 2.0% EBITDA 754 770 2.0% Profit before tax 437 454 3.9% Profit for the period 323 340 5.1% 1 Total investment 365 198 1 Includes €199.8m for the acquisition of 50% of TEN, which materialised in January 2016 following approval by the European Commission

  5. Slide 5: Financial structure

    Financial structure Performance of net financial debt €M ‐ 205 4,949 4,744 128 102 643 10 198 Average debt maturity 5.7 years 2.83% cost of debt 1H17 vs. 3.00% in 1H216 88% of debt at fixed rate 2016 Operating Changes in Investments Dividends Other 1H17 Cash flow working capital Results 1H2017 27 Ju

  6. Slide 6: Financial Structure

    Financial Structure Solvency ratios Maturities €M 1H16 1H17 EBITDA / Interest (*) 9.5x 10.6 FFO / Debt 22.4 % 24.4% Debt / EBITDA 3.4x 3.2x Liquidity sources 3,383 (*) EBITDA / Net finance cost excluding capitalisations €2,422M Debt structure by instrument. 1H2017 Other 4,744 USPP EIB & ICO loan Eur

  7. Slide 7: Conclusions

    Conclusions  Results for the first half of the year are in line with targets of the Strategic Plan 2014/2019.  Solid cash flow evolution and positive performance by financial indicators. Standard & Poor’s has confirmed an A‐ rating with a stable outlook.  Investment in the transmission network in

  8. Slide 8: Shareholders and investors contact

    relacioninversores@ree.es Presentation available at: www.ree.es Shareholders and investors Results 1H2017 27 July 2017

  9. Slide 9: Disclaimer

    This document has been produced by Red Eléctrica Corporación, S.A. for the sole purpose expressed therein. It should not in any event be construed as an offer of sale, exchange or acquisition, or as an invitation to make any kind of offer, in particular for the purchase of securities issued by Red E

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