Acciona Sa · BME:ANA
Acciona Sa — H1 2024 Earnings Presentation
73 slides from Acciona Sa's earnings presentation, Jul 30, 2024
Slide 1: H1 2024 Results Presentation
H1 2024 – January – June 3 0 th J u l y 2 0 2 4 RESULTS PRESENTATION
Slide 2: Disclaimer
A C C I O N A H 1 2 0 2 4 R E S U L T S DISCLAIMER This document has been prepared by ACCIONA. S.A. (“ACCIONA” or the “Company” and, together with its subsidiaries, the “ACCIONA Group”) FORWARD-LOOKING STATEMENTS exclusively for use during the presentation of financial results. Therefore, it cannot
Slide 3: Table of Content
TABLE OF CONTENT 1 Introductory Remarks 4 2 Group Financial Information 6 3 ACCIONA Energía 12 4 ACCIONA Infrastructure 14 5 Nordex 23 6 ACCIONA Other activities 25 7 Appendix (I) 28 8 Appendix (II) – ACCIONA Energía H1 2024 Results 35
Slide 4: Introductory Remarks
01 INTRODUCTORY REMARKS
Slide 5: H1 2024 Results Highlights
A C C I O N A H 1 2 0 2 4 R E S U L T S H1 2024 RESULTS HIGHLIGHTS ACCIONA ENERGÍA INFRASTRUCTURE NORDEX OTHER ACTIVITIES 13,944 MW >7% EBITDA Margin 3.4% EBITDA Margin INSTALLED CAPACITY BESTINVER AUM €6.526m HIGH PROFITABILITY IN #2 LARGEST WIND TURBINE +16% yoy 15GW December 2024E(1) CONSTRUCTION
Slide 6: Group Financial Information
02 GROUP FINANCIAL INFORMATION
Slide 7: Financial Results Highlights – H1 2024
A C C I O N A H 1 2 0 2 4 R E S U L T S FINANCIAL RESULTS HIGHLIGHTS – H1 2024 H1 2024 % Chg. H1 2024 H1 2023 (€m) vs H1 2023 (€m) (€m) Revenues 8,772 24% Net Investment Cashflow 1,715 2,200 EBITDA 990 7% H1 2024 FY 2023 EBT 204 -71% (€m) (€m) Attributable net profit 116 -75% Net Financial Debt 8,22
Slide 8: ESG Results Highlights – H1 2024
A C C I O N A H 1 2 0 2 4 R E S U L T S ESG RESULTS HIGHLIGHTS – H1 2024 Key ESG indicators ESG highlights Social H1 2024 H1 2023 % Chg. Social Workforce (FTE) 64,570 53,847 19.9% ▪ There was a significant increase in total workforce, +19.9% versus H1 2023, as a result of the Women in executive and
Slide 9: Investment by Division
A C C I O N A H 1 2 0 2 4 R E S U L T S INVESTMENT BY DIVISION (Million Euro) H1 2024 H1 2023 Net Investment breakdown (€m) Energy 847 1,544 Infrastructure 667 116 Construction 563 84 Concessions 58 8 Water 28 6 Urban & Enviromental Services 17 18 Nordex 88 302 Other Activities 29 103 Ordinary Capex
Slide 10: Net Debt Evolution
A C C I O N A H 1 2 0 2 4 R E S U L T S NET DEBT EVOLUTION Net debt reconciliation H1 2024 (€m) OPERATING CF NET INVESTMENT CF FINANCING/OTHERS CF €78m -€1,715m -42m (70) (11) (3,471) (3,651) (3,878) (2,089) (1) (1) (3) (2) Debt associated to work in progress IFRS16 adjustment Derivatives 1. Note IF
Slide 11: Outlook 2024
A C C I O N A H 1 2 0 2 4 R E S U L T S OUTLOOK 2024 ~€2bn(1) EBITDA 2024 ~€1bn from ACCIONA Energía ~€1bn from the rest of the group Aiming at €200-300m capital gains Net Investment €2.5bn Cash-flow 2024 ~€1.8-€1.9bn at ACCIONA Energía ~€0.6-€0.7bn at the rest of the group 1. Excluding capital gain
Slide 12: ACCIONA Energía
03 ACCIONA Energía
Slide 13: H1 2024 Results Highlights
A C C I O N A H 1 2 0 2 4 R E S U L T S H1 2024 RESULTS HIGHLIGHTS H1 2024 % Chg. % Chg. H1 2024 (€m) vs H1 2023 vs H1 2023 Revenues 1,333 -24% Total capacity (MW) 13,944 14% Generation Revenues 749 -17% Consolidated capacity (MW) 12,329 14% EBITDA 419 -39% Total production (GWh) 13,441 8% EBT 98 -8
Slide 14: Infrastructure
04 INFRASTRUCTURE
Slide 15: Infrastructure – Backlog Breakdown
A C C I O N A H 1 2 0 2 4 R E S U L T S INFRASTRUCTURE – BACKLOG BREAKDOWN Well diversified infrastructure backlog with increasing weighting of collaborative contracts Backlog by activities Backlog by region €33,890m (84% International) €24,508m €25,286m (80% International) (81% International) €25,2
Slide 16: Infrastructure – Concession Assets
A C C I O N A H 1 2 0 2 4 R E S U L T S INFRASTRUCTURE – CONCESSION ASSETS 79 assets in a young, diversified and well-balanced risk-wise asset concession portfolio # assets NORTH AMERICA EUROPE Transport 10 3 assets 47 assets 9% total equity 6% total equity Water 57 Health 2 Transmission lines 8 WTE
Slide 17: Infrastructure – Investments in Concession Assets
A C C I O N A H 1 2 0 2 4 R E S U L T S INFRASTRUCTURE – INVESTMENTS IN CONCESSION ASSETS EQUITY COMMITMENTS H2 2024-2032 (€M) T R A N S P O R TAT I O N , H O S P I TA L AND TRANSMISSION LINES €1bn committed (H2 2024 to 2032) 1,665 €22.2bn (2) 659 ~€106m Water o Dividends and cash distributions for
Slide 18: Infrastructure – Main Concession Assets
A C C I O N A H 1 2 0 2 4 R E S U L T S INFRASTRUCTURE – MAIN CONCESSION ASSETS Total Country Description Period Status Asset type Investment São Paulo Construction + Concession 2020 -2044 Financial asset 15km with 15 stations that will connect the €3.6bn Under construction Metro L6 Brazil center of
Slide 19: Infrastructure - Financial Figures H1 2024
A C C I O N A H 1 2 0 2 4 R E S U L T S INFRASTRUCTURE - FINANCIAL FIGURES H1 2024 Key figures H1 2024 EBITDA evolution (€m) (Million Euro) H1 2024 H1 2023 Chg. Chg. (%) Construction Revenues 3,119 2,925 194 6.6% EBITDA 236 148 89 60.0% Margin (%) 7.6% 5.0% +42.9% Concessions Revenues 26 23 3 11.8%
Slide 20: Construction
A C C I O N A H 1 2 0 2 4 R E S U L T S CONSTRUCTION High profitability reflecting the good quality of the contracts awarded in the recent years Key figures H1 2024 Key highlights H1 2024 ▪ 60% growth in EBITDA, with a 7.6% EBITDA margin, vs 5.0% in H1 2023 (Million Euro) H1 2024 H1 2023 Chg. Chg. (
Slide 21: Concessions
A C C I O N A H 1 2 0 2 4 R E S U L T S CONCESSIONS Young portfolio gradually increasing its contribution to group financial results Key figures H1 2024 Key highlights H1 2024 ▪ EBITDA grew by 34.9%, due to the greater contribution of the Line 6 (Million Euro) H1 2024 H1 2023 Chg. Chg. (%) concessio
Slide 22: Water
A C C I O N A H 1 2 0 2 4 R E S U L T S WATER Margin increase driven by higher weighting of O&M Key figures H1 2024 Key highlights H1 2024 ▪ 10.6% decrease in revenues as a result of the lower contribution, due to being in (Million Euro) H1 2024 H1 2023 Chg. Chg. (%) the completion phase, of project
Slide 23: Nordex
05 Nordex
Slide 24: Nordex
A C C I O N A H 1 2 0 2 4 R E S U L T S NORDEX 3.4% reported EBITDA margin in H1 2024 & full year guidance range tightened Key figures H1 2024 – Nordex reported Key highlights H1 2024 (Million Euro) H1 2024 H1 2023 Chg.(€m) Chg. (%) ▪ Nordex reported gross margin of 19.5% and 3.4% EBITDA margin in H
Slide 25: Other Activities
06 OTHER ACTIVITIES
Slide 26: Property Development
A C C I O N A H 1 2 0 2 4 R E S U L T S PROPERTY DEVELOPMENT Progressing towards 2024 & 2025 expected deliveries above 1,000 units per year Key figures H1 2024 Key highlights H1 2024 ▪ 165 units delivered in H1 2024, compared to 24 in H1 2023, resulting in a 305% increase in (Million Euro) H1 2024 H
Slide 27: Bestinver
A C C I O N A H 1 2 0 2 4 R E S U L T S BESTINVER Strong growth of AUM in H1 2024 Key figures H1 2024 Key highlights H1 2024 (Million Euro) H1 2024 H1 2023 Chg. Chg. (%) ▪ 7.8% increase in Revenues and 22% growth in EBITDA, driven by the increase in Assets Under Management (AUM) Revenues 52 48 4 7.8
Slide 28: Appendix (I)
07 APPENDIX (I)
Slide 29: Net Financial Debt
A C C I O N A H 1 2 0 2 4 R E S U L T S NET FINANCIAL DEBT Net financial debt breakdown (€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 29
Slide 30: Debt Maturity & Breakdown
A C C I O N A H 1 2 0 2 4 R E S U L T S DEBT MATURITY & BREAKDOWN Liquidity and gross debt maturity schedule (€m) 6,553 Available facilities 1,936 1,590 1,640 1,041 1,129 928 1,078 946 Cash 500 Debt breakdown by nature Gross financial debt – Level Gross financial debt – Currency Gross financial debt
Slide 31: Main Infrastructure Projects
A C C I O N A H 1 2 0 2 4 R E S U L T S MAIN INFRASTRUCTURE PROJECTS 3.2% yoy increase in the backlog, with €4,700m new projects awarded in H1 2024 EUROPE NORTH AMERICA Site C Dam: €1.400m (50%) North London Heat and Power Project: €954m (100%) Torrevieja Urban Services contract: €332m (100%) Vancou
Slide 32: Concessions – Assets Excluding Water
A C C I O N A H 1 2 0 2 4 R E S U L T S CONCESSIONS – ASSETS CONCESSIONS EXCLUDING WATER Name Description Period Country ACCIONA Status Accounting method Asset type Remodeling, restoration, operation and maintenance of a 76.5km strech of an existing road between km 62 (A-2) and km 139 (border of A2
Slide 33: Concessions – Details of the Main Water Concessions
A C C I O N A H 1 2 0 2 4 R E S U L T S CONCESSIONS – DETAILS OF THE MAIN WATER CONCESSIONS UNDER IFRIC12 Name Description Period Country ACCIONA Status Accounting method Asset type Consumed life EDAR 8B Construction, operation and maintenance of the wastewater treatment plant "08B Zone" of Aragon 2
Slide 34: Sustainable Markets
A C C I O N A H 1 2 0 2 4 R E S U L T S SUSTAINABLE MARKETS CORPORATE DEBT OUTSTANDING FINANCING (1) 20% 2024 Total €8,216M €2,105m Types of Financing Instruments Instruments 2024 Amounts Total Amounts Sustainable Corporate Debt (M€) (M€) (#) (#) Green Green 14 64 614.1 4.936 €10,321M Financing Gree
Slide 35: Appendix (II) ACCIONA Energía H1 2024 Results
08 APPENDIX (II) ACCIONA Energía H1 2024 Results
Slide 36: Key Highlights & Themes
KEY HIGHLIGHTS & THEMES
Slide 37: Key Highlights H1 2024
A C C I O N A H 1 2 0 2 4 R E S U L T S KEY HIGHLIGHTS H1 2024 ATYPICAL PRICES/OUTPUT AND ONE-OFFS IN H1 MITIGATED BY HEDGING A ND ANCILLARY SERVICES › Extraordinary situation during the Spring – lowest pool prices on record and heavy curtailments as the company chooses not to generate below its mar
Slide 38: Key Priorities for the Year
A C C I O N A H 1 2 0 2 4 R E S U L T S KEY PRIORITIES FOR THE YEAR 1 › Assimilation of unprecedented investment levels 2023-24: ~€4.5bn in aggregate 2 › Value crystallization through asset rotation: private vs. public market value dislocation 3 › Delivery of 1.7 GW of capacity additions 2024 and ge
Slide 39: On Track to Maintain Record Levels of Growth
A C C I O N A H 1 2 0 2 4 R E S U L T S ON TRACK TO MAINTAIN RECORD LEVELS OF GROWTH EVOLUTION OF ANNUAL CAPACITY ADDITIONS 1.7 GW ~1.7 GW 2 0 2 6 O N WA R D S ~1.5 GW › 1.25-1.50 GW p.a. in combination with asset rotation could be compatible with prudent credit ratios in current Q4 7 28 MW environm
Slide 40: Pipeline Update
A C C I O N A H 1 2 0 2 4 R E S U L T S PIPELINE UPDATE PIPELINE (GW) INCLUDES: 2.4 GW storage (BESS + Pumped) 5.0 GW offshore wind 1.8 GW hybridization Southeast Asia Brazil - projects excluded from the pipeline › Substantial pipeline to support upcoming growth combining traditional and new technol
Slide 41: Spanish Prices – Unusual Spring 2024 Dynamics
A C C I O N A H 1 2 0 2 4 R E S U L T S SPANISH PRICES – UNUSUAL SPRING 2024 DYNAMICS Hydro reserves (and output) at extraordinary highs… …combined with low April demand and good wind & PV volumes -2% Total generation/ demand Coal Coal Aug Dec Jan Apr +110% Higher incidence of zero (and negative) pr
Slide 42: Spanish Power Prices Stage a Strong Recovery
A C C I O N A H 1 2 0 2 4 R E S U L T S SPANISH POWER PRICES STAGE A STRONG RECOVERY SPANISH POOL PRICES AT HIGHER LEVELS (€/MWH) SPANISH ELECTRICITY DEMAND RECOVERING Demand – rolling 12 months Expected average electricity pool price 2024 = 59.1 €/MWh 9 0,2 100 7 9,0 8 2,0 7 5,5 7 5,3 7 1,3 Avg. 20
Slide 43: Data Centre Opportunity – Uniquely Positioned
A C C I O N A H 1 2 0 2 4 R E S U L T S DATA CENTRE OPPORTUNITY – UNIQUELY POSITIONED POTENTIALLY EXPONENTIAL GROWTH IN AI ELECTRICITY DEMAND DATACENTERS: ESTIMATED GLOBAL ANNUAL CONSUMPTION AT FULL LOAD (TWH ) Active player in the main growth x3 markets for data centres (US, Spain & EU, Australia,
Slide 44: Increasing Long-Term Contracts in Spain
A C C I O N A H 1 2 0 2 4 R E S U L T S INCREASING LONG-TERM CONTRACTS IN SPAIN SPANISH CONSOLIDATED OUTPUT 2022-25 (TWH) 87% 78% 78% 65% 80% Contracted vs. Wholesale Targeted Contracted vs. Wholesale ~11.5 TWh ~11.5 TWh ~11.5 TWh › Actual PPA/Supply long-term contracted volume increases towards 4.2
Slide 45: Value Crystallisation & Credit Profile
A C C I O N A H 1 2 0 2 4 R E S U L T S VALUE CRYSTALLISATION & CREDIT PROFILE ✓ MacIntyre monetisation ~€335m Capital gains & private vs. public valuation arbitrage IG ratings ✓ retained at Asset disposal › Σ ~6 GW under consideration programme › Spain & International across technologies recent 202
Slide 46: Sale of 175 MW Hydro Portfolio in Spain
A C C I O N A H 1 2 0 2 4 R E S U L T S SALE OF 175 MW HYDRO PORTFOLIO IN SPAIN TRANSACTION OVERVIEW › ACCIONA Energía and Elawan (Orix Corporation) reached an agreement on 29 July 2024 for the sale of 100% of Acciona Saltos de Agua, S.L. group (ASA) for a total consideration of €287m. ASA does not
Slide 47: Peaking Work in Progress & Embedded EBITDA
A C C I O N A H 1 2 0 2 4 R E S U L T S PEAKING WORK IN PROGRESS & EMBEDDED EBITDA DEBT ASSOCIATED TO WORK IN PROGRESS (€ bn) 2.9 €2.6bn investment with no 2.6 (or limited) EBITDA in the period 65% of estimated investment at completion 1.4 ~€200m latent EBITDA 1.3 (~€350m full EBITDA for 100% capex)
Slide 48: Outlook 2024
A C C I O N A H 1 2 0 2 4 R E S U L T S OUTLOOK 2024 ~25.5 TWh Based on output to date + P50 for the rest of the year Consolidated Output 2024 Spain ~11.5 TWh International ~14.0 TWh ~€65/MWh Assuming ~€60/MWh Spanish pool price 2024 Average Achieved Price 2024 Achieved price – Spain ~€75/MWh. ~2.5
Slide 49: Financial Information
FINANCIAL INFORMATION
Slide 50: H1 2024 ESG Highlights
A C C I O N A H 1 2 0 2 4 R E S U L T S H1 2024 ESG HIGHLIGHTS Key ESG indicators ESG highlights ENVIRONMENTAL › 100% of the company's CAPEX is aligned with the European Taxonomy of Sustainable Activities. › The production of more than 13 TWh of renewable energy has avoided the emission of more than
Slide 51: Investment
A C C I O N A H 1 2 0 2 4 R E S U L T S INVESTMENT Gross Ordinary Capex Ordinary Key highlights (Million Euro) Capex Deferral Capex Spain 110 36 146 › Investment mainly related to the construction of new USA & Canada 227 359 586 generation assets Mexico 6 0 6 › Most of the investment effort related
Slide 52: Net Debt Evolution
A C C I O N A H 1 2 0 2 4 R E S U L T S NET DEBT EVOLUTION Net debt reconciliation H1 2024 (€m) NET FINANCING OPERATING CF INVESTMENT CF OTHERS CF €277m -€847m -€311m (2,611) (2,864) (1,481) (348) (2) (1) Debt associated to work in progress (3) IFRS16 adjustment 1. IFRS16 liability as of December 20
Slide 53: Spain – Revenue Drivers
A C C I O N A H 1 2 0 2 4 R E S U L T S SPAIN – REVENUE DRIVERS Consolidated output (GWh) Average achieved prices – regulated vs. wholesale (€/MWh) +16% -37% +54% -43% +10% 23% -60% -38% 58% +3% 19% Generation revenues (€m) Average achieved price composition (€/MWh) -5% -33% (€/MWh) H1 2024 H1 2023
Slide 54: Spain – Operating Results
A C C I O N A H 1 2 0 2 4 R E S U L T S SPAIN – OPERATING RESULTS Key figures H1 2024 EBITDA evolution (€m) (Million Euro) H1 2024 H1 2023 Chg. (€m) Chg. (%) Generation 379 569 -190 -33.5% -63.3% Intragroup adjust., Supply & Other 415 655 -241 -36.7% Revenues 793 1,224 -431 -35.2% Generation 162 377
Slide 55: International – Revenue Drivers
A C C I O N A H 1 2 0 2 4 R E S U L T S INTERNATIONAL – REVENUE DRIVERS Consolidated output (GWh) Average achieved prices (€/MWh) -17% -6% +32% +12% -6% -1% -13% +78% +14% 23% -8% -3% 9% 39% 16% 21% 32% +9% +11% Generation revenues (€m) +7% 31% +56% -9% 8% 14% +27% 28% %Chg. vs H1 2023 20% Note: The
Slide 56: International – Operating Results
A C C I O N A H 1 2 0 2 4 R E S U L T S INTERNATIONAL – OPERATING RESULTS Key figures H1 2024 EBITDA evolution (€m) (Million Euro) H1 2024 H1 2023 Chg. (€m) Chg. (%) 30 Generation 371 334 36 10.9% 267 20 6 265 USA & Canada 74 58 16 27.3% (14) (44) Mexico 102 112 -10 -8.6% Chile 51 33 18 55.8% Austra
Slide 57: ACCIONA Energía – Operating Results
A C C I O N A H 1 2 0 2 4 R E S U L T S ACCIONA ENERGÍA – OPERATING RESULTS Key figures H1 2024 EBITDA evolution (€m) (Million Euro) H1 2024 H1 2023 Chg. (€m) Chg. (%) Generation Spain 379 569 -190 -33.5% 686 Generation International 371 334 36 10.9% 30 Intragroup adjust., Supply & Other 584 856 -27
Slide 58: Net Financial Debt
A C C I O N A H 1 2 0 2 4 R E S U L T S NET FINANCIAL DEBT Average Average debt Av. maturity Net financial debt breakdown (€m) cost of debt maturity (years) Credit Lines (years) Project Debt Corporate Debt Debt breakdown by nature Gross financial debt – Level Gross financial debt – Currency Gross fi
Slide 59: Debt Maturity & Liquidity
A C C I O N A H 1 2 0 2 4 R E S U L T S DEBT MATURITY & LIQUIDITY Liquidity and debt principal maturity schedule (€m) 2,144 Available facilities 1,110 735 695 497 601 598 Cash 308 421 265 119 59
Slide 60: Global Reach Across 5 Continents
A C C I O N A H 1 2 0 2 4 R E S U L T S GLOBAL REACH ACROSS 5 CONTINENTS With presence in 25 countries & 13.9 GW of total installed capacity in H1 2024 (1) OTHER AMERICAS SPAIN (5.9 GW) Total Installed Total Consolidated (0.4 GW) capacity capacity 0.4 GW 4.7 GW 0.3 GW Ayora 66 MW 13.9 GW 12.3 GW 0.9
Slide 61: Under Construction & Secured Projects
A C C I O N A H 1 2 0 2 4 R E S U L T S UNDER CONSTRUCTION & SECURED PROJECTS (1) MW Scheduled MW Add. per year % ANE Total project Added up to Added Currently Start const. Technology Country Asset name 2024 2025 2026 2027 Details stake capacity Dec 2023 2024 under const. H2 2024 Wind Australia MacI
Slide 62: Capex & Commodity Price Evolution
A C C I O N A H 1 2 0 2 4 R E S U L T S CAPEX & COMMODITY PRICE EVOLUTION Representative CAPEX costs in the market (1) Commodity price inflation (indexed to 100) (€m/MW, z €m/MWh for BESS) z 1. Capex costs do not include development costs/fees 62
Slide 63: Energy Resource in Context – P50 Deviation
A C C I O N A H 1 2 0 2 4 R E S U L T S ENERGY RESOURCE IN CONTEXT P50 Deviation 63
Slide 64: Installed Capacity
A C C I O N A H 1 2 0 2 4 R E S U L T S INSTALLED CAPACITY Installed MW (30 June 2024) Total Consolidated Eq. accounted Net Spain 5,887 5,360 252 5,457 Wind 4,666 4,153 246 4,247 Hydro 867 867 0 867 Solar PV 293 278 6 285 Biomass 61 61 0 59 International 8,057 6,969 364 6,610 Wind 4,991 4,493 69 3,9
Slide 65: Equity Accounted Capacity
A C C I O N A H 1 2 0 2 4 R E S U L T S EQUITY ACCOUNTED CAPACITY Proportional figures (30 June 2024) MW GWh EBITDA (€m) NFD (€m) Wind Spain 246 321 4 -35 Wind International 69 75 2 -8 Australia 32 29 1 -8 Hungary 12 12 0 0 Vietnam 21 34 0 0 USA 4 1 0 0 Solar PV 302 278 5 129 Total equity accounted
Slide 66: Equity Accounted Contribution to EBITDA
A C C I O N A H 1 2 0 2 4 R E S U L T S EQUITY ACCOUNTED CONTRIBUTION TO EBITDA (Million Euro) H1 2024 H1 2023 Chg. (€m) Chg. (%) Spain -1 54 -55 International -8 12 -20 Portugal 0 10 -10 Hungary 0 1 0 Egypt -1 3 -3 USA 0 0 0 Mexico -8 -2 -6 Australia 1 1 0 (1) Total Generation EBITDA equity account
Slide 67: Spain – Achieved Prices
A C C I O N A H 1 2 0 2 4 R E S U L T S SPAIN – ACHIEVED PRICES Consolidated Achieved price (€/MWh) Revenues (€m) production Gas Gas Market Rinv+Ro Banding Total Market Rinv+Ro Banding Total (GWh) Clawback Clawback H1 2024 Regulated 1,098 41.3 14.0 -12.4 42.9 45 15 -14 47 Wholesale - hedged 3,410 79
Slide 68: Wind – Drivers by Country
A C C I O N A H 1 2 0 2 4 R E S U L T S WIND – DRIVERS BY COUNTRY H1 2024 H1 2023 Chg. (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) Spain Average 71.8 23.9% 106.6 24.0% -32.6% Spain - Regulated 97.2 96.4 0.9% Spain - Not regulated 64.5 111.8 -42.3% Canada 57.7 31.9% 63.6 3
Slide 69: Other Technologies – Drivers by Country
A C C I O N A H 1 2 0 2 4 R E S U L T S OTHER TECHNOLOGIES – DRIVERS BY COUNTRY Other technologies prices (€/MWh) and Load factors (%) (1) H1 2024 H1 2023 Chg. (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) Hydro Spain 82.6 36.1% 131.1 22.5% -37.0% Biomass Spain 154.3 58.6%
Slide 70: Sustainable Finance and ESG Ratings
A C C I O N A H 1 2 0 2 4 R E S U L T S SUSTAINABLE FINANCE AND ESG RATINGS CORPORATE DEBT OUTSTANIDNG FINANCING (1) 8% 8% €342m 2024 Total €7.918m €325m Types of Financing Instruments Instruments 2024 Amounts Total Amounts Sustainable Corporate Debt (€m) (€m) (#) (#) Green Green 0 7 0 2,472.3 €4,15
Slide 71: Spain – Market Overview
A C C I O N A H 1 2 0 2 4 R E S U L T S SPAIN – MARKET OVERVIEW Pool price evolution (€/MWh) Electricity demand H1 2023 H1 2024 Jan-Jun (1) 113.0 113.7 (TWh) +0.6% 2024 39.1 -56% 2023 88.3 1. Pool price Jan-Dec 2024: Actual prices until 19 of july 2024 and futures for the rest of the year. TTF CO2 S
Slide 72: International – Market Overview
A C C I O N A H 1 2 0 2 4 R E S U L T S INTERNATIONAL – MARKET OVERVIEW Power markets Electricity demand (GW) 400 75 360 65 320 280 55 Monthly demand (GW) USD/MWh AUD/MWh 240 45 200 35 160 120 25 80 15 40 0 5 Feb 23 Jan 23 Mar 23 Apr 23 May 23 Jun 23 Jul 23 Aug 23 Sep 23 Oct 23 Nov 23 Dec 23 Jan 24
Slide 73: Results Presentation
H1 2024 – January – June 3 0 th J u l y 2 0 2 4 RESULTS PRESENTATION