Redes Energeticas Nacionais Sa · EURONEXT:RENE

Redes Energeticas Nacionais Sa — REN – Redes Energéticas Nacionais — Q1 2025 Earnings Presentation

27 slides from Redes Energeticas Nacionais Sa's earnings presentation, May 8, 2025

  1. Slide 1: 1Q25 Results Presentation

    08TH MAY 2025 UNAUDITED INFORMATION

  2. Slide 2: 08TH MAY 2025 UNAUDITED INFORMATION

    08TH MAY 2025 UNAUDITED INFORMATION 08TH MAY 2025 UNAUDITED INFORMATION 2

  3. Slide 3: Highlights of the Period

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  4. Slide 4: Key financial highlights 1Q25

    I €128.9M €14.4M €2,240.5M €69.1M 0.0% versus 1Q24 +290.7% versus 1Q24 -5.1% versus 1Q24 +44.4% versus 1Q24  With reduction in domestic  Higher financial results (+€4.6M)  Net debt (excluding tariff  Positive impacts from the performance (-€0.7M vs 1Q24), deviations) recorded a 5.1% domestic sec

  5. Slide 5: Key events and sector highlights

    I 80.5%  Renewable Energy sources  On April 28th, at 11h33, an  First Biomethane and Renewable  Investment approval for initiating reached 80.5% of total supply incident caused the general Hydrogen Electronic Auction adaptations to accommodate failure of the Portuguese concluded for injection in

  6. Slide 6: Business performance

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  7. Slide 7: Operating indicators: electricity and gas

    II 14.1TWh 2.39% 9,677km 0.4TWh 238km 1Q24: 13.7TWh (2.7%) 1Q24: 2.42% -0.03pp 1Q24: 9,439km (2.5%) Electricity 80.5% 0.01min 98.7% -8.1 pp 0.01min 0.1 pp 1Q24: 88.6% 1Q24: 0.00min 1Q24: 98.6% 11.57TWh 100.0% 1,375km 0km -0.02TWh 0.0 pp 1Q24: 11.59TWh 1Q24: 100.0% 1Q24: 1,375km (0.0%) Gas Transporta

  8. Slide 8: EBITDA, net profit, CAPEX, RAB and net debt

    II EBITDA +€0.1M (+0.0%) Financial Results +€4.6M (+21.4%) Net Profit +€10.7M (+290.7%) €128.9M €128.9M €-16.8M €-21.3M €14.4M €3.7M CAPEX +€21.3M (+44.4%) Average RAB1 -€35.0M (-1.0%) Net Debt2 -€335.7M (-12.6%) €69.1M €47.9M €3,464.4M €3,499.3M €2,334.6M €2,670.4M 1. Refers only to Domestic RAB |

  9. Slide 9: EBITDA evolution breakdown and contribution by segment

    II EBITDA evolution breakdown - €M EBITDA contribution by business segment4 - % €0.1M (0.0%) 0.2 5.0% 1.3 128.9 0.7 128.9 9.4% 65.2% -2.3 1Q25 20.5% 4.4% 65.8% 1Q24 9.1% EBITDA Δ Assets and Δ Other Δ Opex core Δ International EBITDA 1Q24 opex revenues2 segment3 1Q25 remuneration1 20.7% 1. Includes e

  10. Slide 10: Domestic business: bond yields and base return on RAB

    II DOMESTIC BUSINESS Portuguese 10Y Treasury Bond Yields * - % Base Return on RAB (RoR) ** - % 4.0 10Y Bond Yield 3.5 Linear (10Y Bond Yield) Gas Gas 3.0 Electricity Transportation Distribution 2.5 2.0 5.7 5.7 5.2 5.2 5.3 5.3 1.5 AVERAGE YIELD - % 1.0 3.02% 3.04% 1Q24 1Q25 0.5 0.0 1Q24 1Q25 1Q24 1Q2

  11. Slide 11: Domestic business key highlights: transfers to RAB and CAPEX

    II DOMESTIC BUSINESS KEY HIGHLIGHTS Transfers to RAB (domestic) - €M Electricity1 Gas Transportation2 Gas Distribution €+17.0M (+638.6%) Electricity Gas Transportation Gas Distribution 19.7 2.2 Main investment projects:  Sines Terminal: replacement and  Investments for network expansion and 1.6 up

  12. Slide 12: Return on RAB evolution breakdown

    II DOMESTIC BUSINESS Return on RAB evolution breakdown - €M Return on 1.15 10.60 6.99 RAB 1Q24 RoR evolution -0.01 0.04 0.02 €+0.06M €-0.42M €0.03M (+5.2%) (-4.0%) (0.5%) Asset base 0.07 -0.46 0.01 evolution Return on 1.21 10.17 7.02 RAB 1Q25 Return on RAB increased driven by a Decrease in return on

  13. Slide 13: Core OPEX evolution

    II DOMESTIC BUSINESS KEY HIGHLIGHTS Core OPEX1 evolution - €M €+2.3M (+8.7%) Personnel Costs  General increases and headcount increase (+2% 0.5 28.1 growth YoY, achieving 758 people in March 2025), 1.7 driven by operational areas growth 25.9 Core External Costs  Electricity costs increase €1.2M, o

  14. Slide 14: International business: Transemel and Electrogas

    II Transemel (100%) INTERNATIONAL BUSINESS  EBITDA increased YoY mainly driven by higher revenues Contribution to EBITDA 1Q25 - €M Revenues EBITDA €4.6M €0.4M €3.6M €0.4M (8.5%) (13.0%) 1Q24: €4.2M 1Q24: €3.2M International 3.6 Transemel (100%) 6.7  On April 21st, Acquisition of TENSA, a company t

  15. Slide 15: Depreciation & amortization, financial results, taxes

    II Depreciation & Amortization Financial results Taxes €65.8M -€16.8M €31.9M +€2.6M (+4.1%) +€4.6M (+21.4%) -€8.7M (-21.5%) 1Q24: €63.2M 1Q24: -€21.3M 1Q24: €40.6M  Increase of €2.6M versus 1Q24,  Increase in Financial results  Decrease in Income tax (-€8.6M to along with an increase in gross (+€

  16. Slide 16: Net profit evolution breakdown

    II Net profit evolution breakdown - €M €10.7M (290.7%)  Decrease in taxes of €8.6M reflecting 8.6 14.4 non-recurring fiscal effect related to the capitalization of operational companies, and lower CESE (-€0.1M)  Positive effect of €4.6M from Financial Results reflecting the lower net debt and favo

  17. Slide 17: Net debt evolution, debt maturity and cost of debt

    II Net Debt evolution - €M Net Debt Cost Adjusted Gross Debt Maturity - €M (w/o tariff of Debt deviations) Net Debt Gross debt 997 Average debt 2,521.0 2,388.5 2.7% adjusted 731 maturity Dec 2024 2,3861 359 5.1 years3 199 99 (including liquidity Operating -194.4 2025 2026 2027 2028 After 2028 availa

  18. Slide 18: Share performance, price target and total shareholder return

    II Annualized closing prices * - % Analysts Average Price Target 1 122 +20.4% €2.88 +€0.2 119 (7.5%) 1Q24: €2.68 116 113 +7.7% Total Shareholder Return (TSR) 2 110 107 +12.7% 1Q25 1Q24 104 REN 20.4% -5.6% 101 EURO STOXX Utilities 14.0% -5.2% 98 PSI 7.9% -2.7% REN EURO STOXX Utilities PSI * Source: B

  19. Slide 19: Shaping a Sustainable Future

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  20. Slide 20: ESG indicators Q1 2025

    III INDICATOR UNIT Q1 2025 Q1 2024 YoY Energy consumption MWh 353 698 367 662 -4% Energy consumption (excluding electricity transmission losses and MWh 43 607 46 782 -7% self-consumption) Greenhouse gas emissions (scope 1 and 2) tCO2eq 30 273 26 425 15% Intensity of greenhouse gas emissions (scope 1

  21. Slide 21: Sustainability highlights

    III  Renewable energy power production reached a new record in Portugal of 10,845 MW  First Biomethane and Renewable Hydrogen Electronic Auction concluded for injection into gas networks  85% of the upratings on RNT lines to reinforce transmission capacity under Solar Agreements completed  Wind

  22. Slide 22: ESG ratings and rankings

    III D-A 0-100 100-0 CCC-AAA D-A A 63 15.1 AAA B Business strategy, Transparency and Included in 2025 ESG Top- Biodiversity and land use, Prime Status Emissions reductions reporting, Labor practices, Rated Companies List Carbon emissions, and initiatives, Governance, Climate strategy, Governance Risk

  23. Slide 23: Closing remarks

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  24. Slide 24: Final remarks

    IV ~ €128.9M €69.1M €14.4M 0.0% versus 1Q24 +44.4% versus 1Q24 +290.7% versus 1Q24 €2,240.5M ´ -5.1% versus 1Q24  Lower operational  CAPEX and  Increase in financial  Net Debt reduction  The General performance of the Transfers to RAB results in parallel despite a slight Shareholders’ domestic

  25. Slide 25: Disclaimer

    08TH MAY 2025 UNAUDITED INFORMATION This document has been prepared by REN – Redes Energéticas Nacionais, SGPS, S.A (the "Company") and its purpose is merely informative. As such, this document may be amended and supplemented at the discretion of presentation, and it should be read as presentation,

  26. Slide 26: Investor relations contacts

    08TH MAY 2025 UNAUDITED INFORMATION Madalena Garrido – Head of IR Mariana Asseiceiro Telma Mendes Avenida Estados Unidos da América, 55, 1749-061, Lisboa - Portugal ir@ren.pt 26

  27. Slide 27: REN address and contact details

    Avenida Estados Unidos da América, 55, 1749-061, Lisboa Telefone: +351 210 013 546 ir@ren.pt

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