Slide 1: First Half Results
FIRST HALF RESULTS 30 July 2020
Slide 2: Business Recovery
Business Recovery 1AP TOWN HALLS BRAND ANNIVERSARY AP UNIVERSITY WORK FROM HOME TIPS 2
Slide 3: 1H2020 Beneficial EBITDA
Quarterly Breakdown 1H2020 Beneficial EBITDA in PHP millions -6% -15% *-21% vs 2Q2019 vs 1H 2019 -15% decline: -17% ● -7% lower demand due to COVID-19 ● -10% outages in TSI, GMCP and Pagbilao ● +4% lower purchased power cost -1% ● +5% new capacity from TVI and TMO ● +3% higher ownership in GMCP ● -3
Slide 4: 1H2020 Core Income
1H2020 Core Income EBITDA Net Interest Depcn. & Amort. Tax & Others Core Income Expense Php mn 1H2019 1H2020 Change EBITDA 20,605 = Less: Net Interest Expense 5,787 Depcn. & Amort. 4,603 Tax & Others 1,686 Core Income 8,528 EPS 1.16x aboitiz Qo AboitizPower
Slide 5: 1H2020 Net Income
1H2020 Net Income Core Income FX/Derivative Gain Net Income (Losses) Php mn 1H2019 1H2020 ‘Change Core Income 8,528 3,513 59% on FX/Derivative Gain (Losses) 121 224 | Net Income 8,648 is oe EPS 1.18x 0.51x abSitiz Qo AboitizPower
Slide 6: Balance Sheet Highlights
Balance Sheet Highlights *Total Interest Bearing Debt / Total Equity 6
Slide 7: Operating Highlights: Capacity Sales
Operating Highlights: Capacity Sales Capacity Sales in MW 12% 7
Slide 8: Operating Highlights: Revenue and Energy Sold
Operating Highlights: Revenue and Energy Sold Revenue Energy Sold in PHP millions in GWh -6% -17% 8
Slide 9: Operating Highlights: Gross Margin
Operating Highlights: Gross Margin Quarterly Breakdown in PHP millions in PHP millions -17% -25% -8% -13% in GWh -1% -8% in GWh 44% -17% 9
Slide 10: Operating Highlights: Average Selling Price (P/kWh)
Operating Highlights: Average Selling Price (P/kWh) -13% -49% -19% Ave NEWC $96.41/MT in 1H 2019 vs $65.87/MT in 1H2020 10
Slide 11: Operating Highlights: WESM
Operating Highlights: WESM Q2 Ave LWAP P7.23 (P/kWh) 1H2019 Ave LWAP P5.83 (P/kWh) Q1 Ave LWAP P4.43 (P/kWh) Q2 Ave LWAP P2.17 (P/kWh) Q1 Ave LWAP 1H2020 Ave LWAP P2.94 (P/kWh) P2.56 (P/kWh) 11
Slide 12: Luzon and Visayas Average Weekly Peak Demand
Luzon and Visayas Average Weekly Peak Demand Jun W4 ~ -6% Apr W1 ~ -30% 2020 Ave. LuzVis Weekly Peak Demand 2019 Ave. LuzVis Weekly Peak Demand % Δ vs 2nd Week of March 2020 Luzon Weekly Peak Demand Visayas Weekly Peak Demand Beginning of ECQ Holy Week Independence Day Source: IEMOP Market Reports 1
Slide 13: Operating Highlights: Water Level
Operating Highlights: Water Level 13
Slide 14: Operating Highlights: Distribution
Operating Highlights: Distribution Beneficial Power Sales in GWh -7% Customer Type Peak Demand in GWh in MW -7% -15% 13% 14
Slide 15: Operating Highlights: Distribution
Operating Highlights: Distribution Gross Margin / kWh Feeder Loss 1.53 1H2019 15
Slide 16: Project Update
Project Update Grid Project Capacity (Net) % Ownership Attributable Net Estimated Sellable Capacity Commercial Operation Date Luzon Dinginin Unit 1 (Coal – 668 MW 70% 468 MW Q1 2021 GNPD) Dinginin Unit 2 (Coal – 668 MW 70% 468 MW Q2 2021 GNPD) Visayas Naga Power Plant Complex 39 MW 100% 39 MW Q3 202
Slide 17: GNPower Dinginin
Coal Dome 2 dome steel frame progressing and Coal Dome 1 Sheeting Complete stacker reclaimer progressing GNPower Dinginin 2 x 668 MW of Coal Power Unit 2 Boiler roof and silencers nearing completion Jetty 17
Slide 18: GNPower Dinginin and Naga Power Plant Complex
Naga GNPower Power Dinginin Plant 2 x 668 MW of Complex Coal Power 39 MW of Oil Power 18
Slide 19: MakBan and Tiwi Drilling Project
MGP production well pads st Layout of 1 3 MGP production wells MGP roads and rig staging ready for drilling areas ready MakBan and Tiwi Drilling Project 50 MW 19
Slide 20: AboitizPower recognized anew as FTSE4Good constituent
AboitizPower recognized anew as FTSE4Good constituent This affirms that AboitizPower is on the right track with its commitment to being sustainable and drives the organization to continue strengthening its ESG standards and practices.
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