Acwa Power · TADAWUL:2082
Acwa Power — FY2021 Earnings Presentation
19 slides from Acwa Power's earnings presentation, Mar 17, 2022
Slide 1: FY2021 Financial Results Earnings Call Presentation
ACWA POWER INVESTOR RELATIONS | www.acwapower.com | ir@acwapower.com ACWA Power FY2021 Financial Results March 2022 Earnings Call Presentation 17 March 2022
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: Strong results with bigger and greener fleet in 2021
Strong results with bigger and greener fleet in 2021. And a publicly listed company. • A landmark IPO, oversubscribed by 250 times, raising SAR 4.5 billion in capital • Inaugural Sukuk issuance, raising SAR 2.8 billion in the first tranche of SAR 5.0 billion program • 12.5% and 3.1% higher Operating
Slide 4: Our growth through years
Our growth through years Today we have a platform of 64 assets (in operation, under construction and in advance development) across 12 countries, with growing share of renewables in our portfolio Evolution of renewables portfolio(1,2) (GW) Share in portfolio (GW) ACWA POWER INVESTOR RELATIONS | www.
Slide 5: Mega projects, and strong, visible pipeline
Mega projects, and strong, visible pipeline Carbon Neutral Giga-cities and Green Hydrogen Leading KSA’s energy transition Solar PV Wind CSP ACWA POWER INVESTOR RELATIONS | www.acwapower.com | ir@acwapower.com ACWA Power Just under allocated 70% 60GW of new P of renewables renewable I pipeline opport
Slide 6: Operational performance highlights
Operational performance highlights Plant availability • Overall plant availability for power and water plants in operation were 90% (2020: 95%) and 93% (2020: 94%), • Most of the Company’s base-load conventional power respectively. generation and water desalination projects conduct business under lo
Slide 7: Sustainability and ESG
Sustainability and ESG Environment Governance and Social • In 2021, total Scope 1 and Scope 2 CO2 emissions across all • Robust corporate governance structure built around our assets measured 70.7 million tons; ACWA Power’s share the Board of Directors, elected by the General was 29.1 million tons b
Slide 8: Key reporting metrics (KPIs)
Key reporting metrics (KPIs) Financial Metrics Description Operating income Consolidated Operating income before impairment loss and other expenses which also before impairment loss includes share in net results of equity accounted investees and other expenses Adjusted profit / (loss) Adjusted profi
Slide 9: Key factors affecting the operational and financial results during 2021
Key factors affecting the operational and financial results during 2021 Material ordinary-course-of-business Material transactions that the Material transactions that resulted in transactions that did not result in Company normalized below its adjustment to the consolidated profit adjustment to the
Slide 10: Operating income before impairment loss and other expenses
Operating income before impairment loss and other expenses Operating income before impairment loss and other expenses SAR millions (M) 2,193 ACWA POWER INVESTOR RELATIONS | www.acwapower.com | ir@acwapower.com At SAR 2,193 M for 2021, SAR 244 M or12.5% higher than last year 1,949 • Higher developmen
Slide 11: Adjusted net profit attributable to equity holders of parent
Adjusted net profit attributable to equity holders of parent • Adjusted net profit at SAR 1,194 M for 2021, SAR 36 M or 3.1% higher than last year • Normalized for accelerated depreciation and the discounting impact on loan to achieve a comparable base to last year, normalized adjusted net profit wa
Slide 12: ACWA Power's financial building blocks
ACWA Power’s financial building blocks Develop Invest Operate Optimise ACWA POWER INVESTOR RELATIONS | www.acwapower.com | ir@acwapower.com Future Income Under Lead Operating Advanced Other Lead Operator Financial Construction Developer Projects development Pipeline(1) (NOMAC) optimisation Projects
Slide 13: Adjusted net profit by building block
Adjusted net profit by building block (SARmm) 2020 2021 Major variance drivers Development and • Higher fees mainly on account of projects achieving five financial A construction 461 653 closes during 2021 in Saudi Arabia, South Africa Uzbekistan. management services ACWA POWER INVESTOR RELATIONS |
Slide 14: Parent operating cash flow (POCF)
Parent operating cash flow (POCF) Breakdown of total cash inflows Parent operating cash flow (POCF) Breakdown of POCF – SAR million (% of SAR 2,486 million) SAR millions (M) (281) Total cash inflows Distributions 47% 1,611 Development and construction ACWA POWER INVESTOR RELATIONS | www.acwapower.co
Slide 15: Sources and uses of cash
Sources and uses of cash 2021 Total Discretionary Cash, 2021 Uses of Cash, SAR millions (M) SAR millions (M) 127 POCF Debt service Total Sukuk ACWA POWER INVESTOR RELATIONS | www.acwapower.com | ir@acwapower.com 1,611 374 Opening cash1 800 2,791 Dividends 254 Others 9,403 (4,883) Investments 4,374 I
Slide 16: ACWA Power's optimized capital structure to enhance returns
ACWA Power’s optimized capital structure to enhance returns On balance sheet parent borrowings ACWA POWER INVESTOR RELATIONS | www.acwapower.com | ir@acwapower.com International Saudi Arabia Non-recourse Saudi project bond (ACWA39) and STPC Renewable and bond Saudi project international portfolio pr
Slide 17: Parent net leverage and breakdown of long-term financing and funding facilities
Parent net leverage and breakdown of long-term financing and funding facilities at the end of 2021 Parent-Level Net Leverage EBLs, Equity LCs and SAR million (M) Long–term financing and funding facilities guarantees, other equity commts (Hassyan); As at 31 December 2021, SAR million (M) symmetrical
Slide 18: ACWA Power – A benchmark success story
ACWA Power – A benchmark success story 1 A leader in high growth attractive markets ACWA POWER INVESTOR RELATIONS | www.acwapower.com | ir@acwapower.com 5 2 Energy transition enabler Superior returns across the with a strong ESG lifecycle framework 4 3 De-risked business model NOMAC – Accretive with
Slide 19: Q&A
ACWA POWER INVESTOR RELATIONS | www.acwapower.com | ir@acwapower.com 21 18 Q&A