Acwa Power · TADAWUL:2082
Acwa Power — Q1 2023 Earnings Presentation
10 slides from Acwa Power's earnings presentation, May 10, 2023
Slide 1: ACWA Power Company 1Q2023 Earnings Call
ACWA POWER INVESTOR RELATIONS | www.acwapower.com | ir@acwapower.com ACWA Power Company 1Q2023 Earnings Call 10 May 2023 For the three months ended 31 March 2023
Slide 2: Disclaimer
DISCLAIMER This document and the information contained therein (the "Information") has been prepared by ACWA POWER Company (the "Company“ or “ACWA Power”) for background purposes only and does not purport to be full, accurate or complete. No reliance may be placed for any purpose on the Information
Slide 3: A Fulfilling and Exciting Start of 2023
A FULFILLING AND EXCITING START OF 2023 Remarkable achievements in the business development space, encouraging operational performance and strong financial results • 2 projects achieving dry financial closes (FCs) • 3 projects achieving partial or full commercial operations ACWA POWER INVESTOR RELAT
Slide 4: Financial Closes
FINANCIAL CLOSES Two dry financial closes amounting to ~SAR33.5 billion • 1.25MT (green ammonia) NEOM Green Hydrogen Project, Saudi Arabia • Approx. SAR24 billion of non- recourse project finance debt (~74% of TIC) • 700MW Ar Rass Solar PV IPP, Saudi Arabia – wet close achieved in early April 2023 A
Slide 5: Projects Brought Online
PROJECTS BROUGHT ONLINE 1,820MW of power and 600 thousand m3/day of water became online in the current quarter Project Time Incremental Total online Remaining to capacity capacity bring online1 Shuaa Energy 3 May’22 +100MW 400MW 500MW Total capacity Taweelah IWP Jun’22 +455K m3/day 455K m3/day 454K
Slide 6: Operating Income
OPERATING INCOME1 At SAR559M, 7.1% higher than 1Q2022, on account of robust operating performance • SAR141 million higher contribution from existing projects including non-operational ones in 1Q22 due to outages • SAR34 million of contribution from new projects that became online during or after 1Q2
Slide 7: Reported and Adjusted Net Profit
REPORTED2 AND ADJUSTED NET PROFIT2,3 At SAR270M and building on higher operating profit, 77.6% higher than 1Q2022 Mainly on account Mainly on account of Million SAR of higher income higher finance charges due to higher on deposits and market rates and on Adjusted net profit2,3 gain on change in deri
Slide 8: Outlook for the Short-Term
OUTLOOK FOR THE SHORT-TERM Visible, ambitious, busy period for ACWA Power • Wet financial closes • NGHC (NEOM Green Hydrogen Project), Saudi Arabia • Kom Ombo PV IPP, Egypt • Dry financial closes (expected in the coming months) ACWA POWER INVESTOR RELATIONS | www.acwapower.com | ir@acwapower.com • S
Slide 9: How Did We Do on 2023 Priorities
HOW DID WE DO ON 2023 PRIORITIES 1Q23 scorecard on 2023 priorities shared in the previous earnings call 2023 Priorities Progress in 1Q2023 • Safety first: Zero-harm environment • On track within target with 1 LTI across whole fleet • Reliability of supply… keep the plants • In progress with higher a
Slide 10: Q&A
• Q&A ACWA POWER INVESTOR RELATIONS | www.acwapower.com | ir@acwapower.com ACWA Power Company 1Q2023 Earnings Call 10 May 2023 For the three months ended 31 March 2023