En+ Group Ipjsc Ord Shs · RUS:ENPG
En+ Group Ipjsc Ord Shs — En+ Group — Investor Presentation (October 2021)
75 slides from En+ Group Ipjsc Ord Shs's investor presentation, October 2021
Slide 1: Investor Presentation October 2021
Investor Presentation October 2021
Slide 2: Disclaimer
Disclaimer THIS DOCUMENT AND ITS CONTENTS ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. This presentation may contain “f
Slide 3: Presentation Plan
Presentation Plan 4 15 20 28 37 53 65 Investment Our business Results Sustainable Power Metals Appendix highlights model snapshot business segment segment development • En+ at a glance • Business model • Key financial and • Sustainability • The power market • Global operational • Operational • World
Slide 4: Investment highlights
4 15 20 28 37 53 65 Investment Our business Results Sustainable Power Metals Appendix highlights model snapshot business segment segment development 4
Slide 5: En+ at a Glance
En+ at a Glance En+ is a global leader in aluminium production and renewable energy with a well-established presence across five continents and a strong operational hub in Siberia En+ share in the world’s En+ share in the total generation aluminium output, 2020 of Siberia, 2020 No 1 6.5 % 5.8% alumi
Slide 6: Strong Investment Fundamentals
Strong Investment Fundamentals “Best in class” equity story characteristics En+ Group alignment Industry 1.1. Leadership in geography, sector and World class asset – global benchmark in aluminium market 1 segment position #1 aluminium producer by production volumes in the world (ex-China)1 1.2.
Slide 7: Global Leader in Hydro Power and Aluminium
Global Leader in Hydro Power and Aluminium Global leader in hydro power generation… …and aluminium production (ex-China) Top power companies by installed hydro capacity globally (GW1) Leading aluminium producers globally (2020 Aluminium production mt where available4) Country 6.6 State State(2) Stat
Slide 8: Vertically Integrated Green Business Model
Vertically Integrated Green Business Model Power Segment Metals Segment • A cascade of 31 HPPs on the Angara river and 1 HPP • Bauxite 14.8 mt of Bauxite and 4.6 mt of Nepheline produced in 2020 on the Yenisei river harness the potential of one of • c.80% self sufficiency in bauxites and nephelines
Slide 9: Unique Asset Base with Strong Strategic Location
Unique Asset Base with Strong Strategic Location Geographical proximity of HPPs and aluminium smelters, Siberia Complementarity between our two businesses Aluminium smelter Al Boguchany HPP3 Power Metals ~ Aluminium smelter segment segment ~ Ust-Ilimsk HPP development project Krasnoyarsk Krasnoyarsk
Slide 10: Driving the Lowest Cost Aluminium Production (1 of 2)
Driving the Lowest Cost Aluminium Production (1 of 2) Unique asset base of cost-efficient HPPs Driving significant cost advantage in aluminium Operating cost/capacity1 Adjusted Electricity costs (USD mn/GW) (US cents/kWh, 2020)4 EBITDA margin (%) 2 85 EN+ Group HPPs 11 4.7 88 China Yangtze Power 20
Slide 11: Driving the Lowest Cost Aluminium Production (2 of 2)
Driving the Lowest Cost Aluminium Production (2 of 2) LTM EBITDA and margin of Power segment (USD mn) 36% 36% 37% 40% 38% 37% 1,147 1,202 1,174 1,207 1,127 993 2017 1H'18 LTM 2018 1H'19 LTM 2019 2020 FCF evolution by segments1 Global aluminium cash costs curve (based on liquid metal) (USD mn) (as of
Slide 12: Industry Leading Sector Margins
Industry Leading Sector Margins Adj. EBITDA margin for power companies 20201 Adj. EBITDA margin for aluminium companies 20202 (%) (%) EN + (Power segment) 37% HPPs 85% En+ Group En+ Group (Metals segment) 10.2% 18% China Yangtze Power 88% HydroQuebec 64% Hindalco 13% Engie Brasil 53% SDIC Power 52%
Slide 13: Corporate Governance and Compliance
Corporate Governance and Compliance Lord Barker Board’s and committees developments in 2021: Executive Chairman Christopher Burnham A life Peer, since October Senior Independent Director • The composition of the Board of Directors and its committees has been amended 2015, a member of the House Chair
Slide 14: Ownership Structure
Ownership Structure Voting and shareholders structure1 February 2020 – the Company simplified its ownership structure Free float 13.92% Free float 13.92% through USD 1.58 bn acquisition of VTB Group’s 21.37% stake in En+ Group. USD 11.57 price per share represented a significant Former family member
Slide 15: Our business model
4 15 20 28 37 53 65 Investment Our business Results Sustainable Power Metals Appendix highlights model snapshot business segment segment development 15
Slide 16: Business Model
Business Model OUR RESOURCES REFINING/ PROCESSING/ SALES & CREATING & INPUTS RAW MATERIALS POWER GENERATION GENERATION MARKETING GLOBAL VALUE Renewable energy ASSETS Bauxite Total sales in 2020 Income and 3.8 mt 1 14.8 mt production 3.9 mt shareholder value Al capacity in 2020 Alumina VAP sales in 2
Slide 17: Worldwide Presence with Core Assets in Siberia
Worldwide Presence with Core Assets in Siberia Revenue split by region, 20201 Other Russia CIS Sweden 12.4% 37.4% Ireland Krasnoyarsk Asia Moscow Boguchany HPP Ust-Ilimsk HPP 15.4% USD Irkutsk 10,356 mn Krasnoyarsk AS Boguchany Ust-Ilimsk CHP AS Bratsk HPP CHP-16 Novo- America Bratsk AS Jamaica Ukra
Slide 18: Climate Change Agenda (1/2)
Climate Change Agenda (1/2) Pathway to Net Zero: Conducting deep analysis to develop decarbonisation strategy in continuous collaboration across multiple business lines In September 2021, En+ to publish a Report on the pathway to Net Zero and conduct a Net Zero Investor Webinar Testing alumi
Slide 19: Climate Change Agenda (2/2)
Climate Change Agenda (2/2) Initial setup Key actions January 2021 – Climate targets approved by Analysis of the activities within value chain of both segments and access efficient abatement Board of Directors and compensation measures to develop GHG reduction strategy, in line with 1.5°C pathwa
Slide 20: Results snapshot
4 15 20 28 37 53 65 Investment Our business Results Sustainable Power Metals Appendix highlights model snapshot business segment segment development 20
Slide 21: 1H 2021 Key Highlights
1H 2021 Key Highlights Market En+ performance Corporate developments Economic recovery from the Against the continuing impact of Sector leading GHG reduction severe impact of the COVID-19 the coronavirus pandemic, stable targets, decarbonisation pathway pandemic operational and financial repor
Slide 22: 1H 2021 Financial and Operational Highlights
1H 2021 Financial and Operational Highlights Revenue 30.2% increase in the weighted-average Aluminium Aluminium production was broadly unchanged USD 6,506 mn realized aluminium price per tonne production y-o-y up 31.5% y-o-y 5.8% increase in sales volumes of primary 1,868 kt The aluminium ma
Slide 23: 1H 2021 Financial Highlights
1H 2021 Financial Highlights USD mn 1H 2021 1H 2020 Change Revenue 6,506 4,948 31.5% Adj. EBITDA1 1,890 756 150% Adj. EBITDA margin 29.1% 15.3% 13.8 pp Net profit 2,231 20 - Net profit margin 34.3% 0.4% 33.9 pp Capex4 693 492 40.9% Free cash flow2 692 446 55.2% 1H 2021 Revenue by region3 1H 2021 Rev
Slide 24: En+ Group Revenue and EBITDA Breakdown
En+ Group Revenue and EBITDA Breakdown 1H 2020 to 1H 2021 Revenue bridge 1H 2020 to 1H 2021 Adj. EBITDA2 bridge (USD mn) Change 1H 2020 to 1H 2021(%) (USD mn) Change 1H 2021 to 1H 2020 (%) 35.7% 6.9% +500.5% +7.0% 6,506 1,890 98 26 1,513 38 0 4,948 580 (456) 1,415 1,434 (5) (482) USD 1,558 mn (+31.5
Slide 25: En+ Group Debt Overview as of 30 June 2021
En+ Group Debt Overview as of 30 June 2021 Net debt change in 1H 2021 Key debt metrics (USD mn) (USD mn) 30 June 2021 31 Dec 2020 9,826 (494) Total debt, IFRS 12,314 12,388 11 416 243 (666) 98 8,116 4,263 (1,220) 139 Cash and cash equivalents 4,198 2,562 277 145 (1,160) 5 5 (1,209) 4,017 Net debt1,
Slide 26: Capital Expenditure
Capital Expenditure Capital expenditure dynamics1 Power Segment (USD mn) • Capex increased to USD 139 mn from USD 101 mn in 1H 2020 with maintenance capex accounting 693 for 47%. The increase was mainly attributable to the partial rescheduling of some works from the previous year and the beginning o
Slide 27: Coronavirus Response in En+ Group
Coronavirus Response in En+ Group People • Regular qualified trainings for employees providing information including the launch of a dedicated hotline • Provision of personnel with protective equipment including gloves, masks and sanitizers • Thermometry control. Personnel flows control • Regular di
Slide 28: Sustainable development
4 15 20 28 37 53 65 Investment Our business Results Sustainable Power Metals Appendix highlights model snapshot business segment segment development 28
Slide 29: Sustainability Performance (1/2)
Sustainability Performance1,2 (1/2) ⬛⬛Power ⬛⬛Metals ⬛⬛En+ Group Target Comment Management considers work-related fatalities unacceptable Work-related and conducts comprehensive investigations of all fatalities, 3 To achieve zero fatalities. with identifying the causes and conditions of their employ
Slide 30: Sustainability Performance (2/2)
Sustainability Performance1 (2/2) ⬛⬛Power ⬛⬛Metals ⬛⬛En+ Group Target Comment GHG emissions reduction in aluminium plants was possible GHG emissions To reduce direct specific GHG emissions due to implementation of a targeted program to reduce of smelters (Scope 1) 2.04 by 15% from 2014 levels (2.28
Slide 31: En+ Group's ESG Metrics 2020
En+ Group’s ESG Metrics 2020 Environmental Social Governance ▼11% reduction of direct GHG emissions of Approx 27% of En+ Group’s workforce was The Corporate Governance and Nominations electrolysis operations 2020 vs 2014 (tCO2e/tAl) female in 2020 Committee was divided into 2 committees: the Corpora
Slide 32: Sustainability Initiatives & ESG Assessment
Sustainability Initiatives & ESG Assessment • En+ Group • En+ Group • In May 2020, En+ • In 2015 The Metals • Mission Possible • En+ Group • En+ Group is • En+ Group supports the continued its work Group was segment Platform was launched was among committed to actively UN with the Energy among the f
Slide 33: Focus on Sustainable Development (1 of 3)
Focus on Sustainable Development (1 of 3) Environmental stewardship • Purchase at least 95% of their electricity from hydroelectric power plants and other types Low carbon of carbon-free power generation for aluminium smelters aluminium • Reduce direct specific greenhouse gas emissions by 15% in exi
Slide 34: Focus on Sustainable Development (2 of 3)
Focus on Sustainable Development (2 of 3) Advanced engineering / in-house technological development RA-550 • High power proprietary RA-550 cells which stand out for their environmental performance cells and efficiency Inert anode • Inert anode technology helps dramatically cut the environmental impa
Slide 35: Focus on Sustainable Development (3 of 3)
Focus on Sustainable Development (3 of 3) Social initiatives Infrastructure • Social and economic development programmes in regions where the Group operates projects Educational • Cooperation with universities and development of educational programmes, particularly projects those aimed at training f
Slide 36: Lake Baikal
Lake Baikal En+ Group owns and manages operations at the HPP cascade1 located on Angara, the only river that flows out of Lake Baikal • Lake Baikal is a rift lake in the south of Eastern Siberia HPPs on the Angara 1 cm of Baikal running through the HPP turbines produces IRKUTSK HPP over 0.2 TWh of g
Slide 37: Power segment
4 15 20 28 37 53 65 Investment Our business Results Sustainable Power Metals Appendix highlights model snapshot business segment segment development 37
Slide 38: Power Assets Overview
Power Assets Overview Zone 1 (European) Zone 2 (Siberian) Russia in total2 Prod. = 796 TWh Prod. = 207 TWh Prod. = 1,063TWh Siberia accounts for 20% of electricity demand in Russia Demand = 784TWh Demand = 209 TWh Demand = 1,050 TWh Coal prices and water levels are the main electricity price dri
Slide 39: Overview of Siberian Hydro Power Environment
Overview of Siberian Hydro Power Environment • The Siberian federal district is one of the main industrial regions in Russia with a focus on oil and gas, metallurgy and engineering, and contributes approximately 10% of Russia’s total GDP • A unique feature of the Siberian Integrated Power System (IP
Slide 40: The Entire Power Sector Value Chain
The Entire Power Sector Value Chain Substantial degree of vertical integration provides En+ Group with significant advantages and additional sources of growth Value creation End users The presence of both HPPs and CHPs in centre the asset portfolio allows En + Group to HPP generation optimally distr
Slide 41: Siberian Power Market Supply and Demand Dynamics
Siberian Power Market Supply and Demand Dynamics Electricity Consumption Areas of Additional Demand Growth +6.1 TWh increase (TWh) Krasnoyarsk Region by 2026 vs. 2020 235 Boguchany aluminum smelter consumption increase 2020–2026 yearly average growth +1.7% 230 Extension and modernization of a nu
Slide 42: Electricity Prices Mainly Increase with Inflation
Electricity Prices Mainly Increase with Inflation 1H 2021 sales 1H 2021 revenue Wholesale electricity sales Development of electricity prices volume contribution2 • Auction of price bids and volumes submitted by the power (RUB/MWh) 3 producers and consumers a day in advance of actual delivery on an
Slide 43: Capacity (KOM) Prices Provide 6-year Revenue Visibility
Capacity (KOM) Prices Provide 6-year Revenue Visibility 1H 2021 sales 1H 2021 revenue Capacity sales Development of capacity prices volume contribution2 (th. RUB/MW/month) Annual capacity auctions by the System Operator for Capacity the capacity supply in 6 years’ time 353 349 auction 67.9 GW1 328
Slide 44: Power Market Update
Power Market Update Power supply and demand in Siberia1 Average electricity spot prices2 TWh 1H’21 1H’20 Change Average market price, 1H’21 1H’20 Change RUB/MWh Production in Siberia 109.2 103.9 5.1% 2nd price zone 908 904 0.4% HPPs production 61.3 54.6 12.2% Irkutsk region 818 856 (4.4%) Consumptio
Slide 45: Water Inflows as a Driver to Increase HPP Generation
Water Inflows as a Driver to Increase HPP Generation Overview Water inflows, Angara cascade1 (m3 per sec.) • The Group’s Angara cascade HPPs (Irkutsk, Bratsk and Ust-Ilimsk HPPs) increased power generation to 25.5 TWh in 1H 2021 (up 14.3% y-o-y) and to 11.8 TWh in 2Q 2021 (up 12.4% y-o-y). This was
Slide 46: Water Level
Water Level Water level of Lake Baikal, m 458,2 457.12 457,0 456.64 456.48 456.48 456.49 456.58 456.23 456.41 456.29 456.20 456.28 455.5 Dec'19 Mar'20 Jun'20 Sep'20 Dec'20 Jan'21 Feb'21 Mar'21 Apr'21 May'21 Jun'21 Water level Normal Min/Max Angara cascade, TWh Yenisey cascade/KHPP, TWh 25.5 22.3 22.
Slide 47: Power Generation Volumes
Power Generation Volumes Hydro power generation1 36.9 (TWh) 32.0 31.0 11.4 9.7 8.9 19.5 18.5 18.4 16.4 17.9 15.6 6.0 6.4 4.8 6.6 4.7 5.0 25.5 22.3 22.1 11.8 11.9 13.1 13.7 11.8 10.5 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 1H 2020 1H 2021 1H long-term average 2 Angara cascade (incl. Irkutsk,
Slide 48: Power Segment Sales Breakdown
Power Segment Sales Breakdown Electricity sales Capacity sales1 (TWh) (GW) 53.3 87.7 47.3 84.9 10.4 18.0 17.0 9.1 1.7 Retail 1.7 Regulated contracts Regulated contracts 18.0 3 KOM 19.5 Free bilateral contracts 48.6 Free bilateral contracts 3.3 67.9 Balancing market 3.2 20.0 Spot market 2 13.7 21.1 1
Slide 49: Power Segment EBITDA Analysis
Power Segment EBITDA Analysis Power segment EBITDA in 1H 2021 1H 2021 adj. EBITDA bridge build-up (USD mn) EBITDA margin (%) (USD mn) 86 11 14 na 38 542 50 580 43 16 11 580 48 510 (36) (24) HPPs CHPs Coal Other and Total Adj. EBITDA FX Spot prices HPP Others Adj. EBITDA interco 1H 2020 generation 1H
Slide 50: Power Segment's HPP Modernisation Programs
Power Segment’s HPP Modernisation Programs • ‘New Energy’ is an ongoing program, focused on modernising the power plants at Angara and Yenisei cascades, to improve efficiency, reliability and safety, as well as reduce potential GHG emissions by augmented HPP generation • As part of the program: • Us
Slide 51: Power Segment's Modernisation Programs
Power Segment’s Modernisation Programs CHP modernisation program Projects Commence of capacity supply Capacity, MW CAPEX2 USD mn • The Group participated in the state programs for CHP modernisation providing guaranteed return on investment1 Segozerskaya HPP, 01.12.2022 8.1 19.7 • Capacity Allocation
Slide 52: Power Segment Debt Overview
Power Segment Debt Overview Key debt metrics Net debt change in 1H 2021 (USD mn) (USD mn) 30 June 2021 IFRS 31 Dec 2020 IFRS 4,263 4,017 Loans and borrowings 11 139 98 - Corporate Debt 3,426 3,552 (494) - Operational Debt 1,023 1,044 Total debt 4,449 4,596 Cash and cash equivalents 432 333 31 Dec 20
Slide 53: Metals segment
4 15 20 28 37 53 65 Investment Our business Results Sustainable Power Metals Appendix highlights model snapshot business segment segment development 53
Slide 54: Metals Segment: Global Operational Assets Footprint
Metals Segment: Global Operational Assets Footprint Global scale: core smelting operations located in Siberia, Russia; supplied by owned domestic and international alumina and bauxite operations and sourcing more than 90% of energy from low cost low-carbon HPPs generation owned by En+ Group Kandalak
Slide 55: High Degree of Vertical Integration
High Degree of Vertical Integration Bauxite and Nepheline Alumina Aluminium 5 6 Production process 1 2 3 4 • 3 Alumina, or aluminium oxide, is extracted from the bauxite through 1• Aluminium production starts with the raw material bauxite, a 5• Alumina is used to produce aluminium. Electricity is ru
Slide 56: Growth in Demand Matched by Record Aluminium Production
Growth in Demand Matched by Record Aluminium Production Primary aluminium demand and production Incremental global aluminium dynamics¹ demand structure by end-use in 2021 33.8Mt Consumer 32.1Mt Other 33.0Mt 31.9Mt 33.9Mt durables 4% 30.3Mt 6% Machinery & 14.1 Equipment Transport 15.0 10% 12.3 39% El
Slide 57: Aluminium Prices Reflect Current Market Fundamentals and Supply Chain Restrictions
Aluminium Prices Reflect Current Market Fundamentals and Supply Chain Restrictions LME cash settlement price Regional premiums dynamics Monthly average, Aug 2021 (1-9) $3,000 $800 $753 Europe DU $700 $2,500 US MidWest DP $600 Main Japanese Ports (quarterly) $2,000 $500 $1,500 $400 $297 $300 $1,000 $
Slide 58: Chinese Production is Forecasted to Reach Record Highs
Chinese Production is Forecasted to Reach Record Highs Chinese installed aluminum capacity Chinese primary aluminium import mn t kt Capacity cap 45mn t Imports Exports Net Imports 370 377 42.6 346 42.3 296 270 243 251 230 238 200 204 170 172 41.0 147 134 103 70 2019 2020 2021E -30 Jun'20 Sep'20 Dec'
Slide 59: Metals Segment Production
Metals Segment Production Aluminium (kt) 1,867 1,868 57 61 71 65 940 927 939 950 936 932 29 28 29 31 30 31 35 35 35 34 33 33 1,739 1,742 876 862 875 885 869 873 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 1H 2020 1H 2021 Russia Siberia Russia European Part Sweden (kt) Alumina Bauxite 7,469 7,637
Slide 60: Aluminium Sales and Revenue
Aluminium Sales and Revenue +5.8% (Kt) 1,890 2,000 y-o-y 2,000 78 1,890 Ingots 12 145 134 Primary • In 1H 2021, aluminium sales increased 5.8% y-o-y to total 2,000 kt. The sales 990 VAP aluminium increase was mostly attributable to intensified market demand 1,105 sales, Third party • In line with it
Slide 61: Metals Segment EBITDA Breakdown
Metals Segment EBITDA Breakdown 1H 2021 EBITDA bridge build-up 1H 2021 adj. EBITDA bridge build-up (USD mn) EBITDA margin (%) (USD mn) EBITDA margin (%) 33 5 na 24 24 815 159 64 10 (117) 1,368 1,315 5 1,315 112 219 Aluminium Alumina Unallocated 3 1H21 EBITDA 1H20 Premiums / Effect of LME Aluminium C
Slide 62: Metals Segment Capital Expenditures
Metals Segment Capital Expenditures Capex semi-annual dynamics Capex 1H 2021 Capex guidance 2021 USD mn 897 842 848 834 Taishet Aluminium 600 19% Smelter 17% 500 Taishet Anode Plant 400 7% 12% 300 554 USD 554 mn USD 1.1–1.3 bn 521 495 496 200 417 417 401 7% Other development 321 353 capex 61% 67% 10
Slide 63: Metals Segment Debt Overview
Metals Segment Debt Overview Net debt change in 1H 2021 • In 1H 2021 the Group signed a sustainability linked pre-export (USD mn) finance facility with Societe Generale for up to USD 200 mn, 3 years 5,563 maturity to refinance more expensive debt. The facility is priced at 4,099 277 3mLibor+1.8%, wi
Slide 64: Thank you for your attention!
Thank you for your attention! For further information, please visit: https://www.enplusgroup.com/en/investors/ For investors: E: ir@enplus.ru For media: E: press-center@enplus.ru T: +7 (495) 642 7937 64
Slide 65: Appendix
4 15 20 28 37 53 65 Investment Our business Results Sustainable Power Metals Appendix highlights model snapshot business segment segment development 65
Slide 66: 1H 2021 Operational Highlights
1H 2021 Operational Highlights 1H 2021 1H 2020 Change Total aluminium production, kt 1,868 1,867 0.1% Total aluminium sales, kt 2,000 1,890 5.8% VAP share 50% 42% 8 pp Sales and Total electricity production1 , TWh 44.0 39.3 12.0% production • HPPs, TWh 36.9 32.0 15.3% • CHPs, TWh 7.0 7.3 (4.1%) Heat
Slide 67: Segment Highlights
Segment Highlights Power segment • Power segment revenues increased by 6.9% y-o-y mainly driven by increase in electricity USD mn 1H 2021 1H 2020 Change sales volumes and increase in capacity prices y-o-y. The increase was partially offset by Revenue 1,513 1,415 6.9% rouble depreciation (the average
Slide 68: En+ Group's Aluminium Production Assets (1 of 2)
En+ Group’s Aluminium Production Assets (1 of 2) Asset Location Total capacity1, Utilisation rate Bratsk Aluminium Smelter ktpa Bratsk Aluminium Smelter Russia 1,009 100% Krasnoyarsk Aluminium Smelter Russia 1,019 100% Aluminium smelters Sayanogorsk Aluminium Smelter Russia 542 98% Novokuznetsk Alum
Slide 69: En+ Group's Aluminium Production Assets (2 of 2)
En+ Group’s Aluminium Production Assets (2 of 2) Asset Location Total capacity1, Utilisation rate ktpa Timan Bauxite Russia 3,300 100% North Urals Bauxite Mine Russia 3,000 75% Bauxite mines Compagnie Des Bauxites De Kindia Compagnie Des Bauxites De Kindia Guinea 3,500 84% Friguia Bauxite and Alumin
Slide 70: En+ Group's Power and Utilities Assets
En+ Group’s Power and Utilities Assets Asset Location in Russia Installed capacity1 Krasnoyarsk HPP Electricity (MW) Heating (Gcal/h) Krasnoyarsk HPP Krasnoyarsk 6,000 - Hydro power Bratsk HPP Bratsk 4,500 - plants Ust-Ilimsk HPP Ust-Ilimsk 15.1GW 3,840 - Irkutsk HPP Irkutsk 662.4 - Bratsk HPP Onda
Slide 71: En+ Group Statement of Profit or Loss
En+ Group Statement of Profit or Loss Statement of profit or loss Six months ended USD mn 30-June-2021 30-June-2020 Revenue 6,506 4,948 Cost of sales (4,251) (3,866) Gross profit 2,255 1,082 Distribution expenses (285) (265) General and administrative expenses (380) (360) Impairment of non-current a
Slide 72: En+ Group Business Segments
En+ Group Business Segments Statement of profit or loss by Business segment Six months ended 30-June-2021 En+ Group Metals Power USD mn Adjustments Consolidated segment segment Revenue 6,506 5,449 (456) 1,513 Operating expenses (excluding depreciation and loss (4,616) (4,134) 451 (933) on disposal o
Slide 73: En+ Group Statement of Financial Position
En+ Group Statement of Financial Position Statement of financial position Statement of financial position (cont’d) USD mn 30-June-2021 31-Dec-2020 USD mn 30-June-2021 31-Dec-2020 EQUITY AND LIABILITIES ASSETS Equity Non-current assets Share capital - - Property, plant and equipment 9,933 9,577 Share
Slide 74: En+ Group Statement of Cash Flows
En+ Group Statement of Cash Flows Statement of cash flows Statement of cash flows (cont’d) Six months ended Six months ended USD mn 30-June-2021 30-June-2020 USD mn 30-June-2021 30-June-2020 OPERATING ACTIVITIES INVESTING ACTIVITIES Profit for the year 2,231 20 Proceeds from disposal of property, pl
Slide 75: EBITDA Reconciliation
EBITDA Reconciliation Six months ended Six months ended 30 June 2021 30 June 2020 USD mn En+ Group Metals Power En+ Group Metals Power Results from operating activities 1,391 942 453 306 (106) 416 Add: Amortisation and depreciation 429 317 113 384 274 111 (Gain)/loss on disposal of property, plant a