Acciona Sa · BME:ANA
Acciona Sa — Q1 2021 Earnings Presentation
26 slides from Acciona Sa's earnings presentation, May 7, 2021
Slide 1: Letter to Comisión Nacional del Mercado de Valores
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. COMISION NACIONAL DEL MERCADO DE VALORES These materials are not an offer for
Slide 2: Not for release, publication or distribution
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. Este documento incluye referencias a una posible oferta pública inicial de ac
Slide 3: Q1 2021 Results Presentation
Q1 2021 – January - March 7 th M a y 2 0 2 1 RESULTS PRESENTATION
Slide 4: Disclaimer
A C C I O N A Q 1 2 0 2 1 R E S U L T S DISCLAIMER This document has been prepared by ACCIONA. S.A. (“ACCIONA” or the “Company”) exclusively for use during the violation of U.S., Australian, Canadian, South African or Japanese securities laws. presentation of financial results. Therefore it cannot b
Slide 5: Key Highlights Q1 2021
A C C I O N A Q 1 2 0 2 1 R E S U L T S KEY HIGHLIGHTS Q1 2021 Solid start of the year in Energy and stable operating performance in Infrastructure STRONG ENERGY BUSINESS DRIVEN BY NEW INTERNATIONAL CAPACITY & HI GH ACHIEVED PRICES IN Q1 › +20% in sales and +22% in EBITDA, accounting for 82% of grou
Slide 6: Financial Results Highlights Q1 2021
A C C I O N A Q 1 2 0 2 1 R E S U L T S FINANCIAL RESULTS HIGHLIGHTS Q1 2021 Q1 2021 % Chg. Q1 2021 Q1 2020 (€m) vs Q1 2020 (€m) (€m) Revenues 1,710 5% Net Investment 950 322 EBITDA 362 11% Q1 2021 Q1 2020 EBT 149 16% (€m) (€m) of which Nordex contribution -22 Net Financial Debt 5,790 5,621 Attribut
Slide 7: Investment by Division
A C C I O N A Q 1 2 0 2 1 R E S U L T S INVESTMENT BY DIVISION Net Investment breakdown Key highlights (Million Euro) Jan-Mar 21 Jan-Mar 20 Q1 2021 concentrated a significant part of the total investment Energy 760 284 expected for the year as a whole Infrastructure 121 29 Construction 87 12 Concess
Slide 8: Net Debt Evolution
A C C I O N A Q 1 2 0 2 1 R E S U L T S NET DEBT EVOLUTION Net debt reconciliation Q1 2021 (€m) NET FINANCING OPERATING INVESTMENT OTHERS CF: -€59m CF: -€950m CF: -€49m (5,790) (886) (64) (49) (5,298) (492) (4,239) (219) (153) (49) 362 (2) Net -debt EBITDA Financial results Working Other op. CF Net
Slide 9: Energy Business
A C C I O N A Q 1 2 0 2 1 R E S U L T S ENERGY BUSINESS Key figures Q1 2021 EBITDA evolution (€m) (Million Euro) Jan-Mar 21 Jan-Mar 20 Chg. Chg. (%) Generation Spain 183 184 -1 -0.4% Generation International 267 188 78 41.5% Other & Adjustments 122 104 18 17.2% Revenues 572 476 95 20.0% Output +10 O
Slide 10: Energy Business: Intense construction activity during 2021
A C C I O N A Q 1 2 0 2 1 R E S U L T S ENERGY BUSINESS Intense construction activity during 2021 Total capacity additions and Main projects to start construction activity in FY 2021 construction in 2021 Asset name Country MW 1,604 MW › Additional MW to MacIntyre Complex Australia 923 start construc
Slide 11: Energy Business: Full visibility on FY2021 installations
A C C I O N A Q 1 2 0 2 1 R E S U L T S ENERGY BUSINESS Full visibility on FY2021 installations & higher price expectations +5.6% in GW yoy 11.3GW +319MW +c.0.6GW ▪ Q1 installations of 319MW 11GW ▪ >50% target accomplished NEW 10.7GW contributing almost the whole CAPACITY year +64% in €/MWh yoy €45.
Slide 12: Infrastructure Business
A C C I O N A Q 1 2 0 2 1 R E S U L T S INFRASTRUCTURE BUSINESS Key figures Q1 2021 EBITDA evolution (€m) (Million Euro) Jan-Mar 21 Jan-Mar 20 Chg. Chg. (%) Construction Revenues 693 674 18 2.7% EBITDA 25 25 0 -0.4% Margin (%) 3.6% 3.7% -0.5% Concessions Revenues 10 21 -11 -54.1% EBITDA 9 14 -4 -32.
Slide 13: Project Backlog Remains at Historical Highs
A C C I O N A Q 1 2 0 2 1 R E S U L T S PROJECT BACKLOG REMAINS AT HISTORICAL HIGHS €1.1bn of new project awards in Q1 2021 €315m Tren Maya Playa Carmen- Tulum, in Mexico (equity accounted) Significant €149m Novo Hospital Central do Alentejo, Évora, in Portugal new projects additions €75m C-110 Nive
Slide 14: Other Activities – Property Development
A C C I O N A Q 1 2 0 2 1 R E S U L T S OTHER ACTIVITIES – PROPERTY DEVELOPMENT Increase weight of high-value added projects focused on innovative sustainable solutions Property Development - Key figures Q1 2021 26 units delivered in Q1 2021, versus 130 in Q1 2020 (Million Euro) Jan-Mar 21 Jan-Mar 2
Slide 15: Other Activities - Bestinver
A C C I O N A Q 1 2 0 2 1 R E S U L T S OTHER ACTIVITIES - BESTINVER Leading independent provider of comprehensive financial services Bestinver - Key figures Q1 2021 Key highlights (Million Euro) Jan-Mar 21 Jan-Mar 20 Chg. Chg. (%) €529m increase in Assets Under Management versus December 2020, Reve
Slide 16: Concluding Remarks
A C C I O N A Q 1 2 0 2 1 R E S U L T S CONCLUDING REMARKS STRONG START OF THE YEAR DRIVEN BY THE ENERGY BUSINESS INFRASTRUCTURE BUSINESS CLOSE TO PRE-COVID LEVELS, SUPPORTED BY STRONG BACKLOG SOLID Q1 SUPPORTS VISIBILITY FOR GROUP EBITDA TO GROW ABOVE THE UPPER RANGE OF THE EBITDA OUTLOOK PROVIDED
Slide 17: Appendix
04 APPENDIX
Slide 18: ACCIONA: EBITDA by Type of Activity
A C C I O N A Q 1 2 0 2 1 R E S U L T S ACCIONA: EBITDA BY TYPE OF ACTIVITY Jan-Mar Jan-Mar LT CONTRACTED (Million Euro) ASSETS & INFRA 2021 2020 66% 69% MANAGEMENT Renewable Generation 304 251 CONTRACTS (2) Infrastructure Concessions - Trans., Social & Water 13 18 Long-term Asset Business 317 269 I
Slide 19: Net Financial Debt
A C C I O N A Q 1 2 0 2 1 R E S U L T S NET FINANCIAL DEBT Net financial debt breakdown by nature (€m) Net debt & cash interest evolution (€m) Average Average Av. maturity undrawn cost of debt debt maturity (years) Credit Lines (years) Project Debt Corporate Debt 17
Slide 20: Debt Maturity & Breakdown
A C C I O N A Q 1 2 0 2 1 R E S U L T S DEBT MATURITY & BREAKDOWN Liquidity and gross debt maturity schedule (€m) 4,542 Cash 2,052 1,880 1,427 Available 759 1,004 924 facilities 2,490 679 582 Debt breakdown by nature Gross financial debt - Level Gross financial debt - Currency Gross financial debt -
Slide 21: Energy – Scheduled Capacity Additions
A C C I O N A Q 1 2 0 2 1 R E S U L T S ENERGY – SCHEDULED CAPACITY ADDITIONS Scheduled Capacity Additions per MW year (MW) (1) Under Start Start Asset % ANA Added Technology Country Total const. const. const. 2021 2022 2023 Details name stake YTD Mar 2021 2021 2022 PV Chile Malgarida I y II 100% 23
Slide 22: Energy – Installed Capacity
A C C I O N A Q 1 2 0 2 1 R E S U L T S ENERGY – INSTALLED CAPACITY Installed MW (31 March 2021) Total Consolidated Eq accounted Net Spain 5,677 4,452 593 5,014 Wind 4,738 3,514 593 4,078 Hydro 873 873 0 873 Solar PV 4 4 0 4 Biomass 61 61 0 59 International 5,336 4,497 358 4,139 Wind 3,864 3,662 48
Slide 23: Energy – Equity-Accounted Capacity
A C C I O N A Q 1 2 0 2 1 R E S U L T S ENERGY – EQUITY-ACCOUNTED CAPACITY Proportional figures (31 March 2021) MW GWh EBITDA (€m) NFD (€m) Wind Spain 593 426 17 78 Wind International 48 22 0 -3 Australia 32 15 0 -2 Hungary 12 6 0 0 USA 4 2 0 0 Solar PV 310 153 5 47 Total equity accounted 952 600 22
Slide 24: Energy – Wind, Drivers by Country
A C C I O N A Q 1 2 0 2 1 R E S U L T S ENERGY – WIND, DRIVERS BY COUNTRY Wind prices (€/MWh) (1) and Load factors (%) Q1 2021 Q1 2020 Chg. (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) Spain Average 55.5 31.9% 66.8 26.3% -17.0% Spain - Regulated 64.2 82.0 Spain - Not regul
Slide 25: Energy – Other Technologies, Drivers by Country
A C C I O N A Q 1 2 0 2 1 R E S U L T S ENERGY – OTHER TECHNOLOGIES, DRIVERS BY COUNTRY Other technologies (€/MWh) and Load factors (%) Q1 2021 Q1 2020 Chg. (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) Hydro Spain 51.7 26.2% 43.9 30.9% 18.0% Biomass Spain 129.0 77.2% 129.7
Slide 26: Results Presentation
Q1 2021 – January - March 7 th M a y 2 0 2 1 RESULTS PRESENTATION