Slide 1: The future of Energy: FY 2019 Results
Brand The future of Energy FY 2019 Results March 25, 2020
Slide 2: EBIT development in line with guidance
EBIT development in line with guidance EBIT1 FY 2019 vs. FY 2018 Key FY Effects €m Energy +/–• Germany: new regulatory period power, FY 2018 2,989 one-off effects 2018 Networks +• Sweden: power tariff increase Energy +44 Networks Customer -100 Customer –• UK: regulatory effects (i.e. SVT price cap),
Slide 3: Adjusted Net Income reflecting EBIT development
Adjusted Net Income reflecting EBIT development FY 2019 €m Group EBIT1 3,235 Economic interest result -801 Including innogy financial expenses Profit before 2,434 Taxes1 Income Taxes -554 Tax rate for FY 2019 at ~23% Minorities -344 0.67 EPS2 (€ per share) Adjusted 1,536 Net Income1 1. Adjusted for
Slide 4: FY 2019 Economic Net Debt (END) reconciliation
FY 2019 Economic Net Debt (END) reconciliation € bn AROs -9.1 -8.9 Pension provisions Net financial position -7.2 -8.8 -23.4 -21.7 +1.3 +1.1 +0.2 -39.6 -1.3 -1.1 -39.4 END OCF 4Q 20191 Net Investments Reduction of Pensions3 Other4 END 9M 2019 4Q 20191,2 nuclear AROs FY 2019 1. OCF/ICF including full
Slide 5: Financial appendix
Brand The future of Energy FY 2019 Results Financial appendix
Slide 6: Financial Highlights
Financial Highlights €m FY 2018 FY 2019 % YoY Sales 30,084 41,484 +38 EBITDA1 4,840 5,558 +15 EBIT1 2,989 3,235 +8 Adjusted Net Income1 1,505 1,536 +2 OCFbIT 4,087 4,407 +8 Investments 3,523 5,492 +56 Economic Net Debt² -16,580 -39,430 -138 1. Adjusted for non operating effects 2. Economic Net Debt
Slide 7: Cash Conversion Rate in Q4 recovering as expected
Cash Conversion Rate1 in Q4 recovering as expected FY 2019 € bn 79% CCR 1 5.6 4.4 -0.2 -1.0 2.9 -0.7 -0.8 -5.5 -2.6 EBITDA2 Cash Change in WC OCFbIT Interest Tax Payments OCF Capex FCF Adjustments3,4 Payments 1. Cash Conversion Rate (CCR): OCF bIT ÷ EBITDA 2. Adjusted for non operating effects 3. Ne
Slide 8: Segments: Energy Networks
Segments: Energy Networks EBIT1 Highlights €m 1,844 +2% 1,888 Germany +/– • New regulatory period for power •+ Expansion of regulated asset base (RAB) •– One-off effects in FY 2018 CEE & Turkey 451 428 Sweden 498 539 Germany 895 921 Sweden •+ Power tariff increase FY 2018 FY 2019 €m Germany Sweden C
Slide 9: Segments: Customer Solutions
Segments: Customer Solutions EBIT1 Highlights €m •+ Power: customer growth 413 -24% Germany Sales •– Gas: higher commodity prices & weather effect Germany Sales 160 313 •– Regulatory effects, mainly SVT2 price cap 159 UK •– Competitive dynamics UK 142 11 •+ Effects from restructuring program Other 1
Slide 10: Non-Core business
Non-Core business EBIT1 Highlights €m •+ Higher achieved power prices -4% 382 366 Preussen •– Higher depreciation Elektra •– One-off effects in 2018 •– Transfer of minority stakes to RWE Preussen 292 399 Elektra Generation •+ Operational improvements, mainly higher 74 Turkey hydro volumes in H1 Gene
Slide 11: Adjusted Net Income
Adjusted Net Income €m FY 2018 FY 2019 % YoY EBITDA1 4,840 5,558 +15 Depreciation/amortization -1,851 -2,323 -25 EBIT1 2,989 3,235 +8 Economic interest expense (net) -674 -801 -19 EBT1 2,315 2,434 +5 Income Taxes on EBT1 -562 -554 +1 % of EBT 1 -24% -23% - Non-controlling interests -248 -344 -38 Adj
Slide 12: Reconciliation of EBIT to IFRS Net Income
Reconciliation of EBIT to IFRS Net Income €m FY 2018 FY 2019 % YoY 1 EBITDA 4,840 5,558 +15 Depreciation/Amortization/Impairments -1,851 -2,323 -25 1 EBIT 2,989 3,235 +8 Reclassified businesses of Renewables -513 -300 +42 Interest result -713 -612 +14 Net book gains 857 366 -57 Restructuring -64 -81
Slide 13: Cash effective investments
Cash effective investments1 €m FY 2018 FY 2019 % YoY Energy Networks 1,597 1,655 +4 Customer Solutions 637 724 +14 Renewables 1,037 722 -30 innogy businesses 0 878 - Corporate Functions & Other 86 1,305 - Consolidation -3 1 - Non-Core 169 207 +23 Investments 3,523 5,492 +56 1. Investments from innog
Slide 14: Economic Net Debt
Economic Net Debt1 €m 31 Dec 2018 31 Dec 2019 Liquid funds 5,423 3,602 Non-current securities 2,295 2,353 Financial liabilities -10,721 -29,482 Adjustment FX hedging² -28 167 Net Financial Position -3,031 -23,360 Provisions for pensions -3,261 -7,201 Asset retirement obligations -10,288 -8,869 Econo
Slide 15: Economic interest expense (net)
Economic interest expense (net) Difference €m FY 2018 FY 2019 (in € m) Interest from financial assets/liabilities -588 -710 -123 Interest cost from provisions for pensions and similar provisions -61 -74 -12 Accretion of provisions for retirement obligations and similar provisions -80 -68 +12 Constru
Slide 16: Financial calendar & important links
Financial calendar & important links Financial calendar May 12, 2020 Quarterly Statement: January – March 2020 August 12, 2020 Half-Year Financial Report: January – June 2020 November 11, 2020 Quarterly Statement: January – September 2020 March 24, 2021 Annual Report 2020 Important links Presentatio
Slide 17: Disclaimer
Disclaimer This presentation contains information relating to E.ON Group ("E.ON") that must not be relied upon for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for any other purpose. By accessing this document you agree