Slide 1: Fiscal Year 2019 Results
Fiscal Year 2019 Results 12 March 2020
Slide 2: Disclaimer
Disclaimer This document contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management, and are based on information currently available to the management. Forward-looking statements shall not be construed as a promi
Slide 3: Strong adj. EBITDA of €2.1 billion driven by continued extraordinary earnings from Supply & Trading
RWE stand-alone Strong adj. EBITDA of €2.1 billion driven by continued extraordinary earnings from Supply & Trading RWE stand-alone: Adj. EBITDA 2019 vs 2018 (€ million) • Lignite & Nuclear: Earnings slightly above previous year’s level as a result of higher realised margins, 1,521 inclusion of nucl
Slide 4: Lignite & Nuclear – adj. EBITDA slightly above previous year after inclusion of nuclear minorities in Q4 2019
RWE stand-alone Lignite & Nuclear – adj. EBITDA slightly above previous year after inclusion of nuclear minorities in Q4 2019 Key financials FY 2019 versus FY 2018: € million FY 2019 FY 2018 change Slightly higher realised generation margins Earnings contribution from acquired nuclear Adj. EBITDA 37
Slide 5: Hedge volumes adjusted for agreement on lignite closures and updated production plan
Hedge volumes adjusted for agreement on lignite closures and updated production plan Expected positions and hedge status as of 31 December 2019 (includes expected impact from agreed lignite phaseout with German government and updated production plan) Outright Average hedge price (€/MWh) corresponds
Slide 6: European Power – earnings improvement due to resumption of GB capacity market payments
RWE stand-alone European Power – earnings improvement due to resumption of GB capacity market payments Key financials FY 2019 versus FY 2018: € million FY 2019 FY 2018 change Resumption of GB capacity payments 4 UK 368 102 +266 Lower production volumes Continental Europe 87 228 -141 Lower margins Ad
Slide 7: Supply & Trading – exceptional earnings contribution continued with another good performance in Q4
RWE stand-alone Supply & Trading – exceptional earnings contribution continued with another good performance in Q4 Key financials FY 2019 versus FY 2018: € million FY 2019 FY 2018 change Outstanding trading performance Gas & LNG above previous year’s result Adj. EBITDA 702 183 519 t/o non-recurring
Slide 8: Adj. net income for FY 2019 reaches €1,210 million
RWE stand-alone Adj. net income for FY 2019 reaches €1,210 million Adj. net income (€ million) FY 2018 FY 2019 • Adj. EBITDA excludes non-operating result 1,521 Adj. EBITDA 2,106 • Financial result adjusted for impact from lower -568 Adj. depreciation -694 discount rates for long-term provisions, ad
Slide 9: High distributable cash flow mainly driven by strong adj. EBITDA
RWE stand-alone High distributable cash flow mainly driven by strong adj. EBITDA Distributable cash flow (€ million) FY 2018 FY 2019 • Changes in provisions: Significantly lower compared to previous year mainly due lower net 1,521 Adj. EBITDA 2,106 change of legacy provisions -586 Change in provisio
Slide 10: Development of net debt for continuing operations of RWE in Q4 2019
RWE stand-alone to RWE Group Development of net debt for continuing operations of RWE in Q4 2019 Development of net debt (old definition before financially ring-fencing mining provisions as of FY 2020) (€ billion) 2.3 7.7 10.0 -0.4 0.6 1.5 -2.6 9.1 4.61 RWE Net debt RWE Cash flows from Capex (incl.
Slide 11: Appendix
Appendix 12 March 2020 Fiscal year 2019 results
Slide 12: Reconciliation to adj. net income
Reconciliation to adj. net income RWE stand-alone FY 2019 FY 2018 change (€ million) Reported Adjustments Adjusted Adjusted Adjusted Adj. EBITDA 2,106 - 2,106 1,521 +585 Depreciation -694 - -694 -568 -126 Adj. EBIT 1,412 - 1,412 953 +459 Non-operating result -684 +684 - - - Financial result -896 +72
Slide 13: Power prices and commodities
Power prices and commodities Base load power prices – Germany, NL (1 year forward) Base load power prices – UK (1 year forward) €/MWh €/MWh 100 100 80 80 UK NL 60 60 40 40 Germany 20 20 03/17 03/18 03/19 03/20 03/17 03/18 03/19 03/20 Coal prices – API2 Cal-ahead Gas prices – TTF Cal-ahead Carbon pri
Slide 14: Clean Dark and Spark Spreads – 2019 – 2021 forwards for Germany, UK and NL
Clean Dark (CDS) and Spark Spreads (CSS) – 2019 – 2021 forwards1 for Germany, UK and NL Germany UK2 Netherlands Cal19 Cal20 Cal21 Cal19 Cal20 Cal21 Cal19 Cal20 Cal21 €/MWh €/MWh Ø8.66 Ø2.52 Ø6.47 Ø5.37 Ø4.18 Ø4.99 Ø2.93 Ø3.93 Ø3.37 Ø3.53 Ø2.28 Ø1.49 Ø2.49 Ø1.07 Ø1.91 Ø-1.72 Ø-3.76 Ø-7.23 CDS Cal 20
Slide 15: Your contacts in Investor Relations
Your contacts in Investor Relations Important Links Financial Calendar • Annual and interim reports & statements • 28 April 2020 • 13 August 2020 http://www.rwe.com/ir/reports ADR programme available Annual General Meeting H1 2020 results • Investor and analyst conferences • 04 May 2020 • 12 Novembe
Slide 16: Xs Sis
Xs Sis SAS SSIS XX Hs 9