S.N. Nuclearelectrica S.A. · BVB:SNN
S.N. Nuclearelectrica — Q1 2017 Earnings Presentation
17 slides from S.N. Nuclearelectrica's earnings presentation, May 12, 2017
Slide 1: SNN Investors Teleconference Q1 2017
SNN Investors Teleconference Financial results for the period of three months ended 31st March 2017 -Q1 2017- POWERed by people Bucharest: May 12th, 2017
Slide 2: Q1 2017 financial result highlights
Q1 2017 financial result highlights RON '000 Q1 2017 Q1 2016 Var. (%) Budget Q1 2017 Var. (%) Quantity of energy sold (MWh) 2,789,218 2,810,749 -0.8% 2,767,838 0.8% Sales of electricity (including thermal energy) 483,910 446,432 8.4% 467,838 3.4% Operating expenses (264,625) (259,402) 2.0% (322,573)
Slide 3: Q1 2017 Financial position
Q1 2017 Financial position RON'000 31.mar.17 31.dec.16 Variation Non – current assets Total non-current assets 7,248,250 7,330,813 -1.1% Inventories 318,729 331,057 -3.7% •No significant changes in PPE Trade and other receivables 180,156 174,763 3.1% • The investments capitalized during Q1 2017, mai
Slide 4: Sales of electricity in Q1 2017 increased by 8.4% compared to Q1 2016
Sales of electricity in Q1 2017 increased by 8.4% compared to Q1 2016 Total quantities of electricity sold in Q1 2017 decreased by 1% compared to Q1 2016, mainly due to an unplanned outage and one scheduled outage of Unit 1 in January 2017. The electricity sales benefited of the increase in weighted
Slide 5: Net profit Q1 2017 increased by 25,7% compared to Q1 2016
Net profit Q1 2017 increased by 25,7% compared to Q1 2016 SNN recorded a net profit of 84,052k RON for Q1 ‘17, generated by: • Operating profit of 107,479k RON (Q1 ‘16: 75,977k RON) – 42% increase; • Negative financial result of 1,838k RON, compared to positive financial result in Q1 ‘16 of 10,300k
Slide 6: Sales structure analysis Q1 2017 vs. Q1 2016
Sales structure analysis Q1 2017 vs. Q1 2016 The main influence over the sales structure comes from the decrease with 47% of the quantities sold on regulated market and increase of 11% of the Sales structure Q1 2017 vs Q1 2016 quantities sold on competitive market, corroborated with a decrease of 2%
Slide 7: OPEX higher by 2% compared to Q1 2016
OPEX higher by 2% compared to Q1 2016 • Cost of traded electricity: increased in Q1 ‘17 compared to Q1 ‘16 due to one unplanned and one scheduled outages occurred in Q1 ‘17. In order to cover contracted sales during these outages, SNN purchased electricity on the spot market - 22,909 MWh in Q1 ’17 (
Slide 8: CAPEX
CAPEX Completion Key investments Budgeted Completion stage as at Project code Investment project 31.03.2017 2017 (k’ RON) 31.03.2017 (%) projects 2017 (k’ RON) Intermediate Dry Spent Fuel Storage Facility PJ-05-016 23,743 7,719 32.51% (including Spent Fuel Loading Station U #2) Upgrading and expansi
Slide 9: Q1 2017 Income statement
Q1 2017 Income statement Budget 3M Variation Q1 01.01.2017 - 01.01.2016 - Var % ended 2017 vs 31.03.2017 31.03.2016 RON'000 31.03.2017 Budget Revenues Sales of electricity 483,910 446,432 8.4% 467,838 3% Electricity transmission revenues 3,707 11,321 -67.3% 3,642 1.8% Total revenues 487,617 457,753
Slide 10: Radioactive emissions U1+U2 (μSv)
Radioactive emissions U1+U2 (μSv) Total Q1 2017: Annual limit: 1,58 8,50 CNCAN authorized limit = 100 microSv/ year/ unit + 50 microSv/ year DICA Legal limit for population (as per Radioprotection Norm NSR01) = 1000 microSv/ year
Slide 11: Nuclear fuel burn up factor (MWh/KgU)
Nuclear fuel burn up factor (MWh/KgU) (Cumulated Q1 2017: 176,00 / Project estimated: 156,00)
Slide 12: Produced electricity/net U1 + U2 (MWh)
Produced electricity/net U1 + U2 (MWh) (Produced electricity Q1 2017: 3.003.621 MWh / Net electricity delivered Q1 2017: 2.767.440 MWh) (Cumulated internal technological consumption (Q1 2017: 7,87%)
Slide 13: CANDU Technology Unit performance U1 + U2 (%) Capacity Factor
CANDU Technology Unit performance U1 + U2 (%) Capacity Factor (Cumulated Q1 2017: 99.14%) Outstanding operational results Global Ranking (the latest update by Nuclear Engineering International-August 2016) • Capacity Factor since in service Unit 2-93,33% - ranking 2nd at global level; Unit 1-89,77
Slide 14: Aspects related to main investments and long term strategic projects
Aspects related to main investments and long term strategic projects Unit 1 Refurbishment program – effective shut down of Unit 1 to occur between 2023-2026, with a duration of 1,5-2 years and a cost estimated at 1,2-1,5 billion EUR (data based on benchmarking) The refurbishment process consists in
Slide 15: Disclaimer
Disclaimer This documents was prepared by Nuclearelectrica team only for this presentation purpose. This document cannot be understood anyway as an offer to sell/buy Nuclearelectrica shares. The document content is only for your information and all the statements other than statements of historical
Slide 16: SNN Investor Relation
SNN Investor Relation S.N. Nuclearelectrica S.A. (SNN) www.nuclearelectrica.ro Stock: ISIN ROSNNEACNOR8 Tel.: +40 21 203 82 00 E-mail: investor.relations@nuclearelectrica.ro 2017 Financial calendar EVENT DATE Executive Management Publication of the Quarterly Report for the 1st Quarter of May 12, 201
Slide 17: Thank you!
NUCLEARELECTRICA Th a n k you I
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