Aboitiz Power Corp. · PSE:AP
Aboitiz Power — Q1 2020 Earnings Presentation
20 slides from Aboitiz Power's earnings presentation, Apr 30, 2020
Slide 1: First Quarter Results
First Quarter Results 30 April 2020
Slide 2: Business Continuity During COVID-19
Business Continuity During COVID-19 2
Slide 3: 1Q2020 Beneficial EBITDA
1Q2020 Beneficial EBITDA in PHP millions -8% -8% decline: ● -10% due to recognition of GRAM & vs 1Q 2019 ICERA in 2019 -11% ● -8% due to outages in TSI and GMCP ● -4% due to lower BCQ rates ● 6% due to fresh contributions from TVI ● 6% due to lower purchased power cost +12% ● 2% due to higher energy
Slide 4: 1Q2020 Core Income
1Q2020 Core Income EBITDA Net Interest Expense Php mn EBITDA Less: Interest Expense Depcn. & Amort. Tax & Others Core Income EPS aboitiz | o aboitizPower Depcn. & Amort. Tax & Others 1Q2019 1Q2020 _ Change Core Income 4
Slide 5: 1Q2020 Net Income
1Q2020 Net Income 27 Core Income Forex Gain/Losses Net Income Php mn 1Q2019 1Q2020 Change Core Income 4,066 Forex/Derivative Losses (440) Net Income 3,626 EPS 0.49x 0.28x 5 aboitiz | o aboitizPower
Slide 6: Balance Sheet Highlights
Balance Sheet Highlights *Total Interest Bearing Debt / Total Equity 6
Slide 7: Operating Highlights: Capacity Sales
Operating Highlights: Capacity Sales Capacity Sales in MW 17% 7
Slide 8: Operating Highlights: Revenue and Energy Sold
Operating Highlights: Revenue and Energy Sold Revenue Energy Sold in PHP millions in GWh -6% 6% 8
Slide 9: Operating Highlights: Gross Margin
Operating Highlights: Gross Margin in PHP millions -6% -15% 4% -6% in GWh 1% 42% 9
Slide 10: Operating Highlights: Average Selling Price (P/kWh)
Operating Highlights: Average Selling Price (P/kWh) -13% -29% -14% 10
Slide 11: Operating Highlights: WESM
Operating Highlights: WESM 1Q2020 Average LWAP: P2.94(P/kWh) 1Q2019 Average LWAP: P4.43(P/kWh) 11
Slide 12: Operating Highlights: Water Level
Operating Highlights: Water Level 12
Slide 13: Operating Highlights: Availability - 1Q2020
Operating Highlights: Availability - 1Q2020 13
Slide 14: Operating Highlights: Distribution
Operating Highlights: Distribution Strong growth in distribution sales Beneficial Power Sales in GWh 6% Customer Type Peak Demand in GWh 6% in MW 4% 14% 14
Slide 15: Operating Highlights: Distribution
Operating Highlights: Distribution Gross Margin / kWh Feeder Loss 1.53 1Q2019 15
Slide 16: Project Update
Project Update Grid Project Capacity % Ownership Attributable Net Estimated (Net) Sellable Capacity Commercial Operation Date Luzon Dinginin Unit 1 (Coal – 668 MW 70% 468 MW Q1 2021 GNPD) Dinginin Unit 2 (Coal – 668 MW 70% 468 MW Q2 2021 GNPD) Visayas Naga Power Plant Complex 39 MW 100% 39 MW Q3 202
Slide 17: GNPower Dinginin
GNPower Dinginin 2 x 668 MW of Coal Power 17
Slide 18: Naga Power Plant Complex
Naga Power Plant Complex 39 MW of Oil Power 18
Slide 19: AboitizPower backs move allowing LGUs to use ER 1-94 funds for COVID-19 response
PAMPANGA AboitizPower backs move allowing LGUs to use ER 1-94 funds for COVID-19 response Various AboitizPower business units, in partnership with Aboitiz Foundation, have been providing assistance to their host beneficiaries amid the pandemic situation. The ER 1-94 funds will augment these efforts
Slide 20: aboitiz | AboitizPower YEARS OF ADVANCING BUSINESS AND COMMUNITIS|
oO aboitiz | 20 AboitizPower 100 YEARS OF ADVANCING BUSINESS AND COMMUNITIS|