Pge Polska Grupa Energetyczna S.a. · GPW:PGE
Pge Polska Grupa Energetyczna — Merger or Acquisition (December 2022)
13 slides from Pge Polska Grupa Energetyczna's merger presentation, Dec 28, 2022
Slide 1: Acquisition of 100% shares in PKPE Holding sp. z o.o.
Acquisition of 100% shares in PKPE Holding sp. z o.o. INVESTOR PRESENTATION December 28, 2022
Slide 2: Agenda
Agenda Transaction summary Strategic rationale Subject of the transaction PKPE Holding – operating segments PGE Group after acquisition (Pro Forma 2021) Comparable transactions Transaction in a nutshell
Slide 3: Transaction summary
Transaction summary Target company Key aspects of the transaction The subject of the transaction is the acquisition of 100% shares of PKPE Holding Sp. z PKPE Group operates on the prospective railway market, which could offer to PGE new o.o., including 100% shares of PKP Energetyka S.A. and shar
Slide 4: Strategic rationale
Strategic rationale #PGE2030 Strategy– main strategic objectives The acquisition of PKPE is in line with the strategy of the PGE Group, potential synergies could facilitate the achievement of strategic goals, such as: PGE Group - leader of sustainable energy transition in Poland Obtaining high dynam
Slide 5: Subject of the transaction
Subject of the transaction Structure of PKPE Holding ■ PKPE Holding is a holding company integrating its subsidiaries, whose activities are focused around the main entity in the holding (PKP Energetyka S.A.) PKPE Holding ■ PKPE is a leader of energy services for railway infrastructure. The Group is
Slide 6: PKPE Group – operating segments
PKPE Group – operating segments EBITDA of operating segments, PLN m CAGR 2014-21 (managerial data of PKPE) Distribution ■ The group is a Distribution System Operator (DSO) responsibe for distribution of 724 electricity to traction network (over 60% of the distribution volume of the Group). 652 ■ Dis
Slide 7: PKPE Group – operating segments
PKPE Group – operating segments Trade Services ■ In the Trade segment, the PKPE Group, as the only supplier, ■ The Services segment provides traction network maintenance provides electricity to railway undertakings with a unique ability to services, as well as construction and modernization services
Slide 8: PGE Group after acquisition (Pro Forma 2021)
PGE Group after acquisition (Pro Forma 2021) Distribution of Distribution lines Sale of electricity electricity (TWh) (ths. km) (TWh) +11% 370 +8% +7% 320 270 41.9 220 318.5 40.4 37.7 297.0 37.5 170 120 PGE PGE + PKPE PGE PGE + PKPE PGE PGE + PKPE Distribution RAB (PLN bn) EBITDA1 Revenues (PLN bn)
Slide 9: Comparable transactions
Comparable transactions /ilustrative/ Transaction parameters Summary of selected comparable transactions Date of EV/ [PLN m] Publication Target company Acquirer EV1 EBITDA Equity price* approx. 1 913.5 18.03.2021 Narragansett Electric Co. National Grid PLC 5 300 2 16.4x Net debt** approx. 4 031.0 =
Slide 10: Transaction in a nutshell
Transaction in a nutshell Key elements • The subject of the transaction is the acquisition by PGE Group of 100% shares of PKPE Holding Sp. z o.o., including 100% shares of PKP Energetyka S.A. and shares in other subsidiaries owned by the PKPE Holding. Price conditions • Base price for 100% shares of
Slide 11: Disclaimer
Disclaimer This presentation has been prepared by the management of PGE Polska Grupa Energetyczna S.A. (the “Company” or “PGE”) and other entities. This presentation does not constitute or form part of and should not be constructed as, an offer to sell, or the solicitation or invitation of any offer
Slide 12: Investor Relations contacts
Investor Relations contacts Filip Osadczuk Krzysztof Dragan Stanisław Ozga CFA IR and ESG Director filip.osadczuk@gkpge.pl krzysztof.dragan@gkpge.pl stanislaw.ozga@gkpge.pl Tel: (+48 22) 340 12 24 Tel: (+48 22) 340 15 13 Tel: (+48 22) 340 12 69 Mob: +48 695 501 370 Mob: +48 601 334 290 Mob: +48 887
Slide 13: Thank you
Thank you
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