Central Puerto Sa · BCBA:CEPU
Central Puerto Sa — Q4 2019 Earnings Presentation
17 slides from Central Puerto Sa's earnings presentation, Mar 20, 2020
Slide 1: 4Q 2019 Results Call
March 20, 2020 February 26, 2019 4Q 2019 Results Call March 11, 2020
Slide 2: Disclaimer
Disclaimer Additional information about Central Puerto can be found in the Investor Support section on the website at www.centralpuerto.com. This presentation does not contain all the Company’s financial information. As a result, investors should read this presentation in conjunction with Central Pu
Slide 3: Agenda
4Q 2019 Results Call Agenda ◼ Expansion projects development ◼ Key Performance Indicators ◼ 2019 and 4Q2019 Financials ◼ News and outlook ◼ Q&A 2
Slide 4: Power capacity expanded 470 MW during 2019
New plants and expansion projects Power capacity expanded 470 MW during 2019 Power capacity at end of period (GWh) + 12% 4,273 4,315 4,139 3,812 286 ◼ Brigadier López (280.50 MW) purchase in the 243 205 2Q2019 149 ◼ The new Luján de Cuyo cogeneration unit (95 1,441 1,441 MW) begun commercial operati
Slide 5: New Luján de Cuyo cogeneration unit reached its COD 7 weeks earlier
The New Luján de Cuyo cogeneration unit (95.3 MW) reached its COD 7 weeks earlier, with a revenue increase of US$ 7 million Power capacity: 95.3 MW (up to 93 MW contracted) Steam capacity: 125 tons/hours COD: October 5, 2019 15 year PPA and steam contracts 4
Slide 6: The Terminal 6 Project has reached a 70% degree of progress
Advances in the construction of the new plants The Terminal 6 Project has reached a 70% degree of progress Power capacity: 391 MW (up to 330 MWs contracted) Steam capacity: 350 tons/hours Contracted COD combined cycle: September2020 15 year PPA and steam contracts 5
Slide 7: New units commissioned during 4Q2019 and 1Q2020
New units commissioned during 4Q2019 and 1Q2020 Maque (57 MW) and Los Olivos wind farms (22.8 MW) Power capacity Manque: 57 MW Los Olivos: 22.8 MW Long term contracts with large users 100% of energy from MATER wind farms already contracted 6
Slide 8: Agenda
4Q2019 Results Call Agenda ◼ Expansion projects development ◼ Key Performance Indicators ◼ 2019 and 4Q2019 Financials ◼ News and outlook ◼ Q&A 7
Slide 9: Key performance indicators – 4Q2019
Key performance indicators – 4Q2019 Energy generation was 18% higher in the 4Q2019 Energy generation (GWh) Thermal units´ availability + 18% + 3 p.p. 3,938 4,101 3,471 241 93% 92% 185 89% 165 1,043 1,372 84% 893 82% 80% 2,816 2,413 2,381 4Q 2018 3Q 2019 4Q 2019 4Q2018 3Q2019 4Q2019 Thermal Hydro Win
Slide 10: Agenda
4Q 2019 Results Call Agenda ◼ Expansion projects development ◼ Key Performance Indicators ◼ 2019 and 4Q2019 Financials ◼ News and outlook ◼ Q&A 9
Slide 11: Revenues increased due to the expansion of installed capacity
4Q2019 Main financial metrics Revenues increased due to the expanssion of the installed capacity of thermal and renewable energy projects 4Q2019 Revenues (in millions of Ps.) 2,230 107 (9) 1,495 11.286 11.384 11,384 7,471 7.471 8.966 4Q2018 Revenues ∆ Energía Base ∆ Sales under ∆ Steam sales ∆ Other
Slide 12: Adj. EBITDA increased 84%, positively impacted by the new projects
4Q2019 Main financial metrics Adj. EBITDA increased 84%, positively impacted by the new projects 4Q2019 Adj. EBITDA (in millions of Ps.) (2,145) (137) (304) 3,913 4.716 4.578 4.274 4,274 2,947 2.947 4Q2018 Adj. EBITDA ∆ Revenues ∆ Cost of sales ∆ Administrative and ∆ Other results, net 4Q2019 EBITDA
Slide 13: Net income of 2019 per ADR was Ps. 58.5
2019 Key financial figures Net income of 2019 per ADR was Ps. 58.5 Revenues (million Ps.) ▲ Higher energy generation + 64% ▲ Addition of new thermal and renewable energy plants ▲ Income from self-supplied fuel (Res. 70/18) 35.961 18.957 ▼ Lower remuneration Res. 1/19 vs Res. 19/17 2018 2019 Adj. EBI
Slide 14: Cash Flow bridge
2019 Main financial metrics Cash Flow bridge Cash Flow (in million Ps.) 17,132 (27,904) 11,974 354 635 (697) 1,494 Cash & Operation Financing CAPEX and Exchange Loss on net Cash & equivalents at the financial assets difference and monetary equivalents at the begining of 2019 other financial possitio
Slide 15: Agenda
4Q 2019 Results Call Agenda ◼ Expansion projects development ◼ Key Performance Indicators ◼ 2019 and 4Q2019 Financials ◼ News and outlook ◼ Q&A 14
Slide 16: New remuneration scheme for Spot Sales (Res. 31/20)
News and outlook New remuneration scheme for Spot Sales (Res. 31/20) Main changes by Res. SE 31/20 compared to Res. SERyME1/191 ◼ Prices set in argentine pesos, adjusted monthly considering a mix of 60% of the Consumer Price Index (IPC) and 40% of the Wholesale Price Index (IPIM) ◼ Initial Energy pr
Slide 17: Q&A Many thanks for your attention
Q&A Many thanks for your attention 16