Fgc Rosseti · RUS:FEES

Fgc Rosseti — Federal Grid Company — 17th Annual 1:1 Investor Conference (June 2013)

17 slides from Fgc Rosseti's conference presentation, Jun 25, 2013

  1. Slide 1: Investor Presentation

    LISTED STANDARD DEPOSITARY RECEIPTS Investor Presentation 17th Annual 1:1 Investor Conference June 25, 2013

  2. Slide 2: Key corporate developments in 2012 – 1H 2013

    Key corporate developments in 2012 – 1H 2013  On 22 November 2012 the President of the Russian Federation signed a decree “On Open Joint Stock Company Russian Grids” Russian Government stake  On 14 June 2013 the 79.64% Russian government’s stake in Federal Grid Company, in Federal Grid Company pre

  3. Slide 3: RAB Regulation: Transforming Approach to Financing

    RAB Regulation: Transforming Approach to Financing Regulatory Asset Base (RAB) Regulation  On 21 May 2012, the Russian Federal Tariff Service approved tariffs under RAB regulation for 2012 – 2014  Federal Grid Company tariff was increased by 11.0% starting from 1 July 2012, by 9.4% starting from 1

  4. Slide 4: Operational Overview

    Operational Overview Electricity Transmission Volume Total Transformer Capacity in Operations Bn kWh (for respective period) GVA (end of period) 0 Substations(1) Transmission Grid Length in Operations Units (end of period) ‘000 km (end of period) 0 0 Source Company data Notes: 1. Including leased su

  5. Slide 5: Key Financial Results

    Key Financial Results Revenues Adjusted EBITDA RUB Bn RUB Bn 200 100 140.3 83.8 82.1 150 139.6 75 67.7 113.3 100 50 50 25 59.8% 60.0% 58.5% 0 0 2010 2011 2012 2010 2011 2012 Adjusted EBITDA Margin Adjusted Profit for the Period Net Debt Position RUB Bn RUB Bn 38.2 40 180 168.0 30.0 30 27.9 140 20 10

  6. Slide 6: Revenues Structure Analysis

    Revenues Structure Analysis 2011 2012 Y-o-Y Change % RUB Bn RUB Bn Transmission fee 134.754 136.559 1.3 Electricity sales 2.246 2.251 0.2 Other revenues 2.571 1.503 (41.5) Total revenues 139.571 140.313 0.5  The Group's revenues from electricity transmission services increased Total Revenue by RUB

  7. Slide 7: Operating Cost Structure

    Operating Cost Structure (1) 2011 % of Total 2012 % of Total Y-o-Y Operating Operating Change % RUB Bn Costs RUB Bn Costs D&A (2) 34.1 33.8 44.5 40.2 30.6 Personnel Related Expenses 24.0 23.9 26.3 23.8 9.4 Purchased electricity 13.8 13.7 13.3 12.0 -3.3 Materials, Repairs and Maintenance 6.0 5.9 6.2

  8. Slide 8: Investment Programme: 2013 – 2017

    Investment Programme: 2013 – 2017 Commentary Investment programme: Breakdown by year(1) RUB Bn  On 31 October 2012 the Ministry of Energy approved 200,000 Federal Grid Company’s investment programme for 2013 – 2017  The approved plan entails investments totalling RUB 775.53 Bn (including VAT) into

  9. Slide 9: Investment Programme 2013-2017 Breakdown

    Investment Programme 2013-2017 Breakdown RUB 265.8 Bn (33.1%) RUB 194.7 Bn (25.1%) Development of Renovation of Fixed transmission Grids (1) Assets RUB 48.8 Bn (6.3%) RUB 22.2 Bn (2.9%) Enhancement of reliability of power supply in Connection of New Moscow, St. Petersburg and Tyumen Customers to UNE

  10. Slide 10: 2013-2017 Key Investment Projects. Completed projects in 2012

    2013-2017 Key Investment Projects. Completed projects in 2012 Provision of power (1,000MW) Provision of power (1,170MW) Construction of the 220kV Construction of power supply Provision of power (450 MW) Construction of power supply generated by Power Unit № 4 generated by Power Unit № 1 Pechorskaya

  11. Slide 11: Debt Capital Structure (as of 31 December 2012)

    Debt Capital Structure (as of 31 December 2012) Net Debt Position RUB Bn  Total debt amounted to RUB 216.4 Bn as of 31 December 2012  75% of total debt is RUB bonds, 8% is eurobonds and the remaining part is primarily bank loans  100% of total debt is unsecured and rouble denominated  Net debt p

  12. Slide 12: Debt Capital Structure after reporting period

    Debt Capital Structure after reporting period Debt Maturity profile as of 24.06.2013 Events after reporting date RUB Bn 40  In January 2013, the Company placed 7-year 10 bn local bond 35 32.5 issue with the coupon of 8.0%.  In January and March 2013, the Company made a full early 30 repayment of t

  13. Slide 13: Thank you

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  14. Slide 14: Appendix

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  15. Slide 15: Debut RUB 17.5 bn Eurobond

    Debut RUB 17.5 bn Eurobond Key Highlights Key Terms  On 5 December 2012, Federal Grid Company placed its debut RUB 17.5 bn 6.25 year Issuer: Federal Grid Finance Ltd. RUB-denominated Eurobond, the second largest deal in the Euro-Rouble space that year Borrower: Federal Grid Company  Initial price

  16. Slide 16: Debut Infrastructure Bond

    Debut Infrastructure Bond Overview  On 10 October 2012 the Russian Government issued a decision to invest pension savings into Federal Grid Company infrastructure projects  The Supervisory Board of Vnesheconombank (VEB) has approved a limit of RUB 100 bn for 2013, with a maturity of up to 35 years

  17. Slide 17: Contacts for Institutional Investors and Analysts

    Contacts for Institutional Investors and Analysts  Head of Investor Relations: Alexander Duzhinov Tel.: +7 495 710 9064 Fax: +7 495 710 9641 E-mail: ir@fsk-ees.ru  Vladimir Baklanov Tel.: +7 495 710 9333 (ext. 2926) E-mail.: baklanov-vv@fsk-ees.ru  Egor Toropov Tel.: +7 495 710 9333 (ext. 2275) E

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