Uniper Se · XETR:UN0
Uniper — 9M 2024 Earnings Presentation
24 slides from Uniper's earnings presentation, Nov 5, 2024
Slide 1: 9M 2024 Interim Results
9M 2024 Interim Results Jutta Dönges – CFO 05 November 2024
Slide 2: Agenda
Agenda 1 Review 9M 2024 2 Financial Performance & Outlook 3 Appendix 2
Slide 3: Highlights 9M 2024 – Fully on track to meet FY 2024 outlook
Highlights 9M 2024 – Fully on track to meet FY 2024 outlook Highlights • Execution of EU remedy measures obligation progressing • Coal exit with a material step forward after decommissioning of 2.9 GW capacity in Q3 • Project teams preparing for planned German hydrogen-ready power plant auctions € 2
Slide 4: Climate target aligned – Group-wide carbon neutrality by 2040
Climate target aligned – Group-wide carbon neutrality by 2040 (Scope 1 to 3) Carbon emission reduction path Scope 1 & 21,2 Carbon emission reduction path Scope 32 mt mt -35%2 -55% 106 24 85 Carbon 20 neutrality3 70 Carbon neutrality3 Modified 11 2019 2023 2030E 2040E 2021 2023 2035E 2040E 1. Scope 2
Slide 5: Uniper's coal exit – A major step forward in September 2024
Uniper’s coal exit – A major step forward in September 2024 Coal exit path Main messages MW 8,000 Schkopau (900 MW) Heyden’s 875 MW power station decommissioned on 30 September 2024 Wilhelmshaven (757 MW) 6,000 Ratcliffe’s 4 x 500 MW power units Heyden 4 (875 MW) decommissioned on 30 September 2024
Slide 6: Agenda
Agenda 1 Review 9M 2024 2 Financial Performance & Outlook 3 Appendix 6
Slide 7: Key financials 9M 2024 – Strong earnings performance
Key financials 9M 2024 – Strong earnings performance while below prior-year’s record figures Adjusted EBITDA Adjusted EBIT Operating cash flow €m €m €m 6,086 2,176 5,489 1,718 6,925 2,551 1 1 1 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 Adjusted Net Income (ANI) Net Income2 Economic net cash3 €
Slide 8: Key result drivers 9M 2024 – Gas Midstream and Flexible Generation
Key result drivers 9M 2024 – Gas Midstream and Flexible Generation on the way to normalized earnings Reconciliation Adjusted EBITDA 9M 2023 to 9M 2024 Main messages €m 1 Adj. EBITDA 9M 2023 6,086 Gas Midstream with solid operating result below strong prior-year’s result Greener Commodities - Gas Mid
Slide 9: Adjusted Net Income 9M 2024 – Supported by positive interest results
Adjusted Net Income 9M 2024 – Supported by positive interest results Reconciliation Adjusted EBITDA 9M 2024 to Adjusted Net Income 9M 2024 Main messages €m Lower depreciation (PY €597m) 2,176 458 mainly stemming from coal-fired 86 power generation 1,718 507 Improved economic interest results 13 unde
Slide 10: Operating cash flow 9M 2024 – Sizeable increase from working capital inflow
Operating cash flow 9M 2024 – Sizeable increase from working capital inflow Reconciliation Adjusted EBITDA 9M 2024 to operating cash flow 9M 2024 €m 106 98 3,104 651 445 1,250 2,551 873 2,176 PY: 6,086 PY: 7,402 PY: 6,925 Adj. EBITDA Non-cash Provision Changes in Other Other(incl. OCFbIT Interest Ta
Slide 11: Economic net debt 9M 2024 – Strong cash flows expand economic net cash position
Economic net debt 9M 2024 – Strong cash flows expand economic net cash position Reconciliation economic net cash YE 2023 to 9M 2024 €m 344 379 3 5,577 2,551 3,058 1 Economic net cash OCF Investments Divestments Other Effects Economic net cash YE 2023 9M 2024 1. Includes asset retirement obligations
Slide 12: FY 2024 Outlook confirmed
FY 2024 Outlook confirmed Adjusted EBITDA Adjusted Net Income (ANI) Main messages €bn €bn 2.4 Strong 9M 2024 results after Range exceptional prior year fully in line with plan 1.5 9M 2024 earnings supported by 1.9 Range positive timing effects that will revert in Q4 Operational performance 1.1 momen
Slide 13: Agenda
Agenda 1 Review 9M 2024 2 Financial Performance & Outlook 3 Appendix 13
Slide 14: Commodity prices
Commodity prices Gas prices1 Carbon prices2 Electricity prices3 Dark & spark spreads4 €/MWh €/t CO2 €/MWh €/MWh 150.00 75 250 Germany 80 CDS Nordics CSS 120.00 60 200 60 90.00 45 150 40 30 60.00 100 20 15 30.00 50 0 0 0.00 0 -20 Jan 23 Aug 23 Mar 24 Oct 24 Jan 23 Aug 23 Mar 24 Oct 24 Jan 23 Aug 23 M
Slide 15: Operating indicators
Operating indicators Greener Commodities Green & Flexible Generation Group carbon emissions Gas storage filling Production volume1 Scope-12 % TWh m tons +6% 36.9 +0% 36.9 -18% points 91% 97% 18.9 13.3 10.9 7.8 10.2 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 1. Accounting View . Coal-fired gener
Slide 16: Electricity generation – Volumes
Electricity generation – Volumes 9M 2024 9M 2023 TWh Accounting view Accounting view Hydro Subtotal 10.16 8.62 Germany1 4.82 3.81 Sweden 5.34 4.81 Nuclear Sweden 7.76 6.15 Gas Subtotal 13.08 14.08 Germany 3.64 3.60 United Kingdom 7.20 8.38 Netherlands 0.56 0.32 2 Sweden 0.03 0.00 Hungary 1.65 1.77 H
Slide 17: Outright power hedging in Germany and Nordic – Physical asset positions
Outright power hedging in Germany and Nordic – Physical asset positions Hedged prices and hedge ratios Germany1 Hedged prices and hedge ratios Nordic1 €/MWh €/MWh 34 51 124 88 41 45 38 38 TWh TWh 8 24 6 18 4 12 2 6 100% 95% 75% 30% 100% 85% 65% 35% 0 0 2023 2024 2 2025 2026 2023 2024 2 2025 2026 1.
Slide 18: Adjusted EBITDA – Main earnings drivers by sector
Adjusted EBITDA – Main earnings drivers by sector Green Generation Flexible Generation Greener Commodities €m €m €m 3,971 1,595 1,056 590 738 699 1 1 1 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 Hydro: Lower margin contribution in SWE almost Gas-fired Generation: Declining generation Gas Midstr
Slide 19: Reconciliation of income/loss before financial results & taxes to Adjusted EBIT/DA
Reconciliation of income/loss before financial results & taxes to Adjusted EBIT/DA €m 9M 2024 9M 20231 Income / loss before financial results and taxes 1,093 10,166 Net income / loss from equity investments 1 20 Depreciation, amortization, impairments & reversals 665 1,481 Economic depreciation, amo
Slide 20: Reconciliation of Adjusted EBITDA to Adjusted Net Income (ANI)
Reconciliation of Adjusted EBITDA to Adjusted Net Income (ANI) €m 9M 2024 9M 20231 Adjusted EBITDA 2,176 6,086 Economic depreciation, amortization, impairments & reversals -458 -597 Adjusted EBIT 1,718 5,489 Economic interest result 86 -141 Economic other financial results 0 0 Adjusted EBT 1,804 5,3
Slide 21: Cash-effective investments
Cash-effective investments €m 9M 2024 9M 2023 Green Generation 101 94 Flexible Generation 189 209 Greener Commodities 68 92 Administration / Consolidation 21 14 Total 379 409 thereof Growth 142 139 thereof Maintenance and replacement 236 269 9M 2024 Presentation, 05 November 2024 21
Slide 22: Financial calendar & further information
Financial calendar & further information Financial Calendar 26 February 2025 Annual Report 2024 Stay informed 06 May 2025 about Uniper Quarterly Statement January - March 2025 uniper.energy/investors 08 May 2025 2025 Annual General Meeting 07 August 2025 Interim Report January - June 2025 04 Novembe
Slide 23: Uniper – Contact your Investor Relations team
Uniper – Contact your Investor Relations team Sebastian Veit Peter Wirtz Head of Investor Relations (EVP) Manager Investor Relations +49 151 5504 9337 +49 160 529 1264 sebastian.veit@uniper.energy peter.wirtz@uniper.energy Eva Götze Silvia Spisla Sabine Burkhardt Manager Investor Relations Manager I
Slide 24: Disclaimer
Disclaimer This document and the presentation to which it relates contains information relating to Uniper SE, ("Uniper" or the "Company") that must not be relied upon for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for