Abengoa Sa · OTC:AGOAF
Abengoa Sa — Q3 2017 Earnings Presentation
24 slides from Abengoa Sa's earnings presentation, Nov 14, 2017
Slide 1: 3Q 2017 Results Presentation
3Q 2017 Results Presentation 14 November 2017
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) and information relating to Abengoa that are based on the beliefs of its management as well as assumptions made and information current
Slide 3: Agenda
Agenda 1 3Q 2017 Highlights & Business Update 2 Financial Review 3 Main Take-Aways 3
Slide 4: 3Q 2017 Highlights & Business Update
1 3Q 2017 Highlights & Business Update 4 4
Slide 5: Increase in business activity, improvement in profitability and progress in the sale of assets
Increase in business activity, improvement in profitability and Highlights of the period progress in the sale of assets Continuing satisfactory results in terms of safety EBITDA of €69 million registered in the first 9 months, 182 million if adjusted for non- recurring items Abengoa has been a
Slide 6: Health & Safety
Commitment to 605 and 842 days without fatal accidents among Abengoa personnel Health & Safety and its subcontractors personnel, respectively Working towards the overall goal of zero accidents Lost Time Injury Rate – Q3 2017 ABENGOA Contractors LTIR 2016: 7.6 2016 LTIR 605 842 5.1 Construction Indus
Slide 7: Key Consolidated Figures
Improvement in business activity and operating profitability. Net result Summary Financials driven by the one-off positive impact of the financial restructuring Key Consolidated Figures Revenues of €1,100 million, up 5% with respect to (€ million) 3Q 2017 3Q 2016 Change 2016 due to increase in pro
Slide 8: Update on Asset Disposal Plan
Update on Asset Important milestone achieved in the sale of stake in Atlantica Yield Disposal Plan Assets pledged to the new financing Bioenergy USA 1G & 2G bioethanol P Bioenergy Agreement reached with Algonquin to Europe 1G bioethanol P Atlantica sell 25% stake in Atlantica Yield Yield Algonquin
Slide 9: Update on Legal Proceedings
Recent ruling in Spain implies recognition of €72 million of additional Update on Legal financial debt. Important milestone reached for the resolution of the Proceedings Brazilian insolvency proceedings On October 30, the Mercantile Court of Seville Nº 2 issued a ruling discharging the complement
Slide 10: Financial Review
' Financial Review ABENGOA 10
Slide 11: EBITDA Bridge
EBITDA Bridge Excluding one-off adjustments, EBITDA would have reached €182 million, a significant improvement with respect to €78 million in 2016 Figures in € million EBITDA September 2017 EBITDA September 2016 E&C: -3 E&C: -157 120 20 100 0 11 80 -20 60 -40 110 -90 40 -127 -60 72 69 20 -80 -168 0
Slide 12: E&C Bookings
Abengoa has been awarded in 2017 new projects for a total value of E&C Bookings ~€1,150 million (€367 million during third quarter) Main projects awarded in 2017 275,000 m3/day desalination plant for the supply of drinking and irrigation Agadir Morocco water Shuaiba III Saudi Arabia 250,000 m3/d
Slide 13: E&C Commercial Opportunities
E&C Commercial Abengoa will leverage on its pipeline to continue building up its project Opportunities backlog Pipeline by Region Pipeline by Project Type Abengoa currently has a pipeline of South America 1% identified projects that amounts to 10% Middle East €23,788 million (1) 10% 6% Mexico & Ce
Slide 14: P&L Snapshot
P&L Snapshot Net Income driven by the one-off effects of the implementation of the financial restructuring Operating Profit impacted by: Figures in €M 9m 2017 9m 2016 • Sale of Norte III Revenues 1,100 1,043 • Non-recurring E&C provisions of €127 EBITDA 69 (90) million. Depreciation & Amortisation
Slide 15: Financial Debt Structure
Financial debt to be further reduced in the short term with the Financial Debt Structure sale of Atlantica Yield Financial Debt as of September 30, 2017(1) (€ million) Impact of the latest court ruling in Spain: • Additional €72 million in short-term financial debt 104 • Temporary re-classificatio
Slide 16: Main Take-Aways
_ Main Take-Aways ABENGOA
Slide 17: Main Take-Aways
Increase in business activity, improvement in profitability and Main Take-Aways progress in the sale of assets Continuing satisfactory results in terms of safety EBITDA of €69 million registered in the first 9 months, 182 million if adjusted for non- recurring items Abengoa has been awarded €1
Slide 18: Appendix
_ Appendix ABENGOA
Slide 19: Financial Debt: Maturity Profile
Financial Debt: Post restructuring financial debt with improved maturity profile Maturity Profile Figures in € million Sep 30,2017 Maturity Corporate Financial Debt(1) New Money 1 1,045 2021(2) New Money 2 241 2021(2) Old Money 1,387 2022 / 2023(3) Loan - Centro Morelos 126 Short term (Repaid on Oct
Slide 20: Results by Segment
Results by Segment Revenues EBITDA (Figures in € million) 3Q 2017 3Q 2016 ∆% 3Q 2017 3Q 2016 ∆% Engineering and Construction Engineering and Construction 976 934 4,5% (3) (157) 98% Total 976 934 5% (3) (157) (98)% Concession-type Infrastructure Solar 46 26 77% 29 16 81% Water 36 47 (23)% 22 33 (33)%
Slide 21: Consolidated Cash Flow
Consolidated Cash Flow Figures in €million Q3 2017 Q3 2016 Profit for the period from continuing operations 5,055 (2,310) Non-monetary adjustments & others (5,106) 2,152 Profit for the period adjusted by non monetary adjustments (51) (158) Operating Working capital (100) (135) Activities Net interes
Slide 22: Impact of Financial Restructuring on P&L
Impact of Financial One-off financial income from the write-down of restructured debt, Restructuring on P&L partially offset by tax, restructuring advisors fees and other expenses Figures in € million 0 4.000 8.000 Write-down of old debt 8.327 Accounting for new debt issued at fair 6.862 (1,465) Fin
Slide 23: Significant Milestones
Significant Milestones Sale of 25% stake in ABY and creation of AAGES Sale of 25% stake in Atlantica Yield to Abengoa-Algonquin Global Algonquin Energy Solutions (”AAGES”) Price of $24.25 per share (1) Upside of up to additional $0.60 Joint venture for the international per share through earn-
Slide 24: 3Q 2017 Results Presentation
3Q 2017 Results Presentation 14 November 2017