Slide 1: Endesa 1Q 2016 Results
Endesa 1Q 2016 Results 09/05/2016
Slide 2: Agenda: Highlights and key financial figures
1. Highlights and key financial figures 2. Endesa’s performance in 1Q 2016 market context 3. Financial results 4. Final remarks 1Q 2016 Results- Madrid, 9 May 2016 2
Slide 3: Agenda: Highlights and key financial figures
1. Highlights and key financial figures 2. Endesa’s performance in 1Q 2016 market context 3. Financial results 4. Final remarks 1Q 2016 Results- Madrid, 9 May 2016 3
Slide 4: 1Q 2016 highlights
Regulated business: stable gross margin evolution Liberalized business: +6% gross margin net of 1Q 2015 CO2 swap transaction 7% decrease in personnel costs with flat fixed costs Sound underlying EBITDA evolution supported by successful energy management Endesa, fully committed with social-related en
Slide 5: Key financial figures
Key financial figures €M 1Q 2016 1Q 2015 Change Like-for-like EBITDA 801 952 -16% +3%(1) Net attributable income 342 435 -21% +10%(2) Cash flow from operations 665 907 -27% 1Q 2016 FY 2015 Change Net financial debt(3) 4,482 4,323 +4% Like-for-like(1) EBITDA grew by 3% (1) Excluding +€173 M of CO2
Slide 6: Agenda: Endesa's performance in 1Q 2016 market context
1. Highlights and key financial figures 2. Endesa’s performance in 1Q 2016 market context 3. Financial results 4. Final remarks 1Q 2016 Results- Madrid, 9 May 2016 6
Slide 7: Market context in 1Q 2016
Market context in 1Q 2016 Demand Electricity wholesale prices Average pool prices Spain (€/MWh) Spain(1) Endesa distribution area(2) (Not adjusted) Industry 0.0% +0.2% -33% -0.6% Services +3.4% 46 -1.3% -1.2% Residential -6.9% 31 1Q 2015 1Q 2016 Adjusted for weather and working days Not adjusted 1
Slide 8: Endesa's performance in 1Q 2016 market context (I/II)
Endesa’s performance in 1Q 2016 market context (I/II) Energy management Output (TWh) Electricity sales(1) (TWh) 2,952 4,573 (+1%) Unitary integrated (-14%) margin(2): 1,806 15,363 (-2%) 25,762 11,030 (-15%) €23.2/MWh (0%) (+3%) 3,617 8,794 (-36%) (-7%) (+11% vs. 1Q 2015) 5,061 (+4%) 3,292 (+6%) Main
Slide 9: Endesa's performance in 1Q 2016 market context (II/II)
Endesa’s performance in 1Q 2016 market context (II/II) Regulated business: Distribution and non-mainland generation Dx: Regulatory news flow Dx: Other operational topics 2016 remuneration proposal in line with >600.000 new smart meters installed in Endesa’s assumptions: 1Q 16 totaling 7.4 million
Slide 10: Agenda: Financial results
1. Highlights and key financial figures 2. Endesa’s performance in 1Q 2016 market context 3. Financial results 4. Final remarks 1Q 2016 Results- Madrid, 9 May 2016 10
Slide 11: Financial results
Financial results (1) (2) P&L evolution: (+) Underlying EBITDA increase (+3%) thanks to the good performance of liberalized business (+) Efficiency plans are driving fixed costs containment (+) 39% improvement in net financial expenses (1) Excluding +€173 M of CO2 swap transaction in 1Q 2015 (2) Exc
Slide 12: 1Q 2016 EBITDA breakdown
1Q 2016 EBITDA breakdown 1Q 2015 1Q 2016 % €M Change (%) €M % Generation & Supply(1) 47% 452 -47% 240 30% Generation & Supply(1) Distribution 45% 425 +13% 479 60% Distribution Non-mainland Gx(2) 8% 75 +9% 82 10% Non-mainland Gx(2) 1 1 TOTAL 952 -16% 801 TOTAL (1) Generation & Supply business EBITDA
Slide 13: Regulated business: gross margin evolution
Regulated business Gross margin evolution -1% €M 756 747 -5 -4 Non-mainland generation(1) 149 145 607 602 Distribution 1Q 2015 Gross Margin Dx Non-mainland Gx 1Q 2016 Gross Margin Stable gross margin (-1%) 1Q 2016 Results- Madrid, 9 May 2016 (1) Non-mainland generation Gross Margin figure includes
Slide 14: Liberalized business: gross margin evolution
Liberalized business (1) Gross margin evolution €M 704 -20% Gas business 89 -141 563 Sales (21,438 GWh) 60 Sales (23,281 GWh) 3.184 615 2.141 503 3.823 5.594 14.431 15.546 1Q 2015 Gross Margin 1Q 2016 Gross Margin Domestic CO2 swap transaction in 1Q 2015 (€173 M) Lower fuel costs, Law 15/2012 ta
Slide 15: Liberalized business: 1Q 2016 energy management
Liberalized business 1Q 2016 energy management Energy (TWh) Unitary values breakdown (€/MWh) 21.2 Unitary revenue 62.6 Sales 20.5 58.9 Energy 5.4 purchases 8.8 Unitary variable cost(1) 41.7 35.7 +11% Mainland 15.1 output 12.4 Unitary margin 20.9 23.2 1Q 2015 1Q 2016 1Q 2015 1Q 2016 €35.7/MWh Fuel
Slide 16: Fixed costs evolution
Fixed costs evolution 0% €M 508 +16 (+5%) 509 -16 (-7%) Personnel 202 costs 218 O&M costs 314 330 Capitalized costs -24 -23 1Q 2015 O&M Personnel 1Q 2016 Flat fixed costs Personnel costs decrease supported by 2014 and 2015 workforce restructuring plans 1Q 2016 Results- Madrid, 9 May 2016 16
Slide 17: From EBITDA to Net Income
From EBITDA to Net Income €M -333 37% 22 -51 801 -97 468 439 52% 342 EBITDA D&A EBIT Net Financial Associates and PBT Taxes Net attributable Expenses Others 11% Income 1Q 2015 952 -324 628 -83 31 576 -140 435 Change (%) -16% +3% -25% -39% -29% -24% -31% -21% 1Q 2016 Results- Madrid, 9 May 2016 17
Slide 18: Net financial debt analysis
Net financial debt analysis Net financial debt evolution Net debt / 1.4x 1.6x(1) EBITDA ratio €M 4,323(2) 4,482(2) 120 Regulatory working Regulatory working 292 424 capital(3) capital(3) 665 400 4,362 4,031 1Q 2015 Cash flow Capex+Others Dividends 1Q 2016 Net debt 31/12/2015 Cash flow from Capex (€3
Slide 19: Agenda: Final remarks
1. Highlights and key financial figures 2. Endesa’s performance in 1Q 2016 market context 3. Financial results 4. Final remarks 1Q 2016 Results- Madrid, 9 May 2016 19
Slide 20: Social commitment
Social commitment Fuel poverty initiatives Aragón (7) Galicia Cantabria Already signed 107 agreements with local and regional governments Cataluña (37) Madrid 75% household coverage at national Outside Endesa’s level concession area (4) Baleares (27) Valencia 95% household coverage in Endesa d
Slide 21: Final remarks
Stable results in the regulated business Sound underlying results in the liberalized business supported by successful energy management strategy Fixed costs containment underpinned by efficiency plans 2016 AGM approved €1.026 DPS against 2015 Results 1Q 2016 Results- Madrid, 9 May 2016 21
Slide 22: Appendix
Appendix Endesa 1Q 2016 Results 22
Slide 23: Installed capacity and output
Installed capacity and output Mainland output (GWh) Total output (GWh) GWh 1Q2016 15,090 (and chg. vs. 1Q 2016 Total Output (1) 772 Total 15.363 -15% 12,411 3,529 296 Hydro 2.333 -1% -18% 2,671 Nuclear 6.461 -9% 1,330 650 Coal 3.641 -32% Natural gas 1.304 -20% 7,103 6,461 Oil-gas 1.624 5% 63% 71% 2,
Slide 24: Endesa: financial debt maturity calendar
Endesa: financial debt maturity calendar Gross balance of maturities outstanding at 31 March 2016: €4,706 M(1) Bonds Bank debt and others ECPs and domestic commercial paper (2) 3,874 Endesa's liquidity 3.842 covers 26 months 543 of debt maturities 107 143 51 84 436 107 51 69 15 Apr' 16 -Dec' 16 36 2
Slide 25: Gross financial debt structure
Gross financial debt structure as of March 31st 2016 Structure of Endesa's gross debt €M 4,706 4,706 Floating 25% Euro 100% Fixed 75% By interest rate By currency Average cost of debt 2.6% 1Q 2016 Results- Madrid, 9 May 2016 25
Slide 26: Disclaimer
Disclaimer This document contains certain "forward-looking" statements regarding anticipated financial and operating results and statistics and other future events. These statements are not guarantees of future performance and they are subject to material risks, uncertainties, changes and other fact
Slide 27: Endesa Corporate
Endesa Corporate Get full information of the company on Endesa Corporate, the Endesa App for iPhone, iPad and Android devices. Download from App Download from Google Store Play 27