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E.on — E.ON Russia — FY2013 Earnings Presentation

10 slides from E.on's earnings presentation, Mar 27, 2014

  1. Slide 1: E.ON Russia 2013 full year results

    E.ON Russia 2013 full year results 27 March 2014

  2. Slide 2: Key financials

    Key financials Key financials – IFRS1 Return on Equity1, 2 FY FY % 2013 2012 Sales RUB bn 78.8 75.0 +5 15% EBITDA2 RUB bn 29.1 29.2 - EBIT2 RUB bn 19.2 21.0 -9 Underlying 10% RUB bn 17.2 18.3 -6 Net Income Underlying RUB 0.27 0.29 -6 EPS Operating 5% RUB bn 23.9 23.5 +2 Cash Flow 2009 2010 2011 2012

  3. Slide 3: Market environment

    Market environment Day Ahead Market: 1st pricing zone 1st pricing zone % y-o-y  Stagnation of electricity consumption 30  Overcapacity on the background of the commissioning of new capacity under CSA 20 2nd pricing zone 10  High water inflow in Siberia 0  Output reduction of RUSAL aluminium 2010

  4. Slide 4: Operational development

    Operational development Electric power generation Load factor1 E.ON Russia E.ON Russia Competitors 65 TWh 80% 60 60% 55 50 40% 2010 2011 2012 2013 2010 2011 2012 2013 Efficiency2  Decline of power generation by 2% mainly due Gfe/kWh3 E.ON Russia Competitors to maintenance at Surgutskaya-2 and 400 i

  5. Slide 5: Earnings

    Earnings EBITDA1 drivers 2012 - 2013 EBITDA1 break-down RUBbn RUBbn 29.2 29.1 2012 29.2 30 Gross 12.3 11.4 +0.8 margin 20 CoCo2 -0.2 Non- -0.8 10 15.4 16.2 CoCo3 Others +0.1 0 1.5 1.5 2012 2013 2013 29.1 Electricity Capacity Heat/Others 1 Adjusted for extraodinary effects 2 CoCo = Controllable Cost

  6. Slide 6: Capex plan

    Capex plan Capex Status Berezovskaya RUBbn 15 Tons of metal used for boiler erection 10 25,000 Completion of the boiler erection 5 Hydrotest 0 20,000 2011 2012 2013 2014E 2015E 2016E 15,000 Maintenance Non-maintenance 10,000  Capex mainly allocated to Berezovskaya Actual  Additional strategic grow

  7. Slide 7: Financial outlook

    Financial outlook EBITDA outlook Earnings Short-  Gas tariff freeze term effective as of mid 2014 RUBbn (EBITDA) until mid 2015  Capacity price 30 29 contraction (-70%) in 2nd pricing zone 23 XX  Supply – demand 20 15 balance 9 6 Mid- term  Commissioning of Berezovskaya 10 Long-  Tightening of

  8. Slide 8: Dividend

    Dividend Free cash flow Dividend RUBbn 150% Pay-out ratio (IFRS) Cash 33.3 2012 100% Mid-term OCF + 23.9 target: 50% 40 – 60% Capex - 15.2 0% 2010 A 2011 A 2012 A 2013 E Dividends - 18.3 Special Dividend Payout ratio for 2012 + 3.2 RUBm 2011A 2012A 2013E Others Dividend 3,649 18,255 18,9001 Cash 26.

  9. Slide 9: E.ON Russia IR - Reporting calendar & contact

    E.ON Russia IR - Reporting calendar & contact Reporting calendar Date Event April 28, 2014 Publication of the RAS statements of E.ON Russia for 3 months of 2014 May 15, 2014 Publication of the IFRS statements of E.ON Russia for 3 months of 2014 July 28, 2014 Publication of the RAS statements of E.ON

  10. Slide 10: Disclaimer

    Disclaimer This presentation may contain forward-looking statements based on current assumptions and forecasts made by E.ON Russia and other information currently available to E.ON Russia. Various known and unknown risks, uncertainties and other factors could lead to material differences between the

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