Acciona Sa · BME:ANA
Acciona Sa — Investor Presentation (March 2020)
20 slides from Acciona Sa's investor presentation, March 2020
Slide 1: Company Overview
COMPANY OVERVIEW March 2020 CONFIDENTIAL
Slide 2: Important Information and Forward-Looking Statements
This document has been prepared by ACCIONA, S.A. (“ACCIONA” or the “Company”) exclusively for use as support material for the introduction of ACCIONA’s activity. Therefore it cannot be disclosed or made public by any person or entity with an aim other than the one expressed above, without the prior
Slide 3: ACCIONA at a glance
3 ACCIONA at a glance ACCIONA is a greenfield developer and operator of energy & infrastructure that provides solutions to sustainable development challenges 20% 41% * In Energy, ACCIONA is one of the world’s largest owners & SPAIN operators of renewable generation OECD REVENUES * The Company is del
Slide 4: Core strengths
4 Core strengths * Leading developer and operator of essential infrastructure making a real difference Strategy aligned with Sustainable Developments Goals challenge– LT growth megatrends * Stable and resilient Business delivering utility-like cash flows Close to 70% of EBITDA from contracted assets
Slide 5: At the heart of the Low Carbon Transition
5 A t t h e h e a r t o f t h e L o w C a r b o n Tr a n s i t i o n E U L o w C a r b o n Ta x o n o m y : b e s t w a y t o d e f i n e A C C I O N A ACCIONA qualifies as 93% by Capex and 83% by EBITDA according to new EU industrial classification for Low Carbon activities 5% 2% 1% 1% 24% 83% 14%
Slide 6: A highly stable and predictable business
6 A highly stable and predictable business Activity and capex concentrated in highly stable and predictable b u s i n e s s e s (1) 7,997 7,312 3% 5% 3% 3% LT CONTRACTED ASSETS 59% & 67% INFRA MANAGEMENT CONTRACTS (2) 16% 24% 9% 9% 92% 94% Non LT (12%) Contracted (12%) Generation 75% 67% FY 2019 FY
Slide 7: EBITDA breakdown
7 EBITDA breakdown EBITDA 2019 €1,357m ND/EBITDA 3.9x 62% 32% 6% Energy Infrastructure Other Businesses * EBITDA: €845m (42.3% * EBITDA: €431m (8.6% margin) * EBITDA: €84m (23.2% margin) margin) >50% associated to long term Businesses managed to crystallize >80% associated to long term contracts val
Slide 8: Energy business – Overview
8 Energy business – Overview A global leader in the renewables utility sector * 10,117 MW in ownership in 16 countries on five continents * Only renewable generation technology focused on wind and photovoltaic 79% wind; 11% photovoltaic; 10% other technologies * Vertical integration active throughou
Slide 9: Energy business – Total installed capacity
9 E n e r g y b u s i n e s s – To t a l i n s t a l l e d c a p a c i t y High-quality assets in the 5 continents Demonstrated capabilities in all renewable technologies Poised to take accelerate growth in onshore wind and PV Total Poland 101 installed Spain 5,678 Wind 4,740 Hungary 24 capacity Hyd
Slide 10: Energy business – Doubling up our pace of growth
10 Energy business – Doubling up our pace of growth Medium to long-term visibility – major step up in additions 2020-24 ~5GW additional capacity by 2024 ~1GW per annum ~0.4GW per annum Aggregate Investment ~€4bn +~5GW Required return: ~ risk-adjusted WACC + >200bps ~50:50 split Wind/Solar PV 2015-20
Slide 11: Infrastructure business – Overview
11 I n f r a s t r u c t u r e b u s i n e s s – O v e r v i e w Global leader in low-carbon transformative infrastructure projects Differentiation through specialisation and ground-breaking use of technology ACCIONA provides innovative, sustainable and impactful solutions globally BACKLOG - € 3,974
Slide 12: Infrastructure business – Recent & ongoing projects
12 I n f r a s t r u c t u r e b u s i n e s s – R e c e n t & o n g o i n g p r o j e c t s E6 Highway Moss Railway Roads O&M €0.4bn (100%) €0.6bn (45%) €0.2bn (100%) Föllo Line Rail SITE C - Dam €1.3bn (60%) Lion’s Gate WTP €1.5bn (50%) Opole Power Plant €0.4bn (100%) €2.2bn (24%) 2 HS Rail €0.3bn
Slide 13: ACCIONA – Group strategy
13 A C C I O N A – G r o u p s t r a t e g y Focus on development & operation of renewable and infrastructure assets * Focus on low-carbon transition/global megatrends/sustainable development goals * Preserve and enhance highly predictable & cashflow-generating asset base • Activity and capex direct
Slide 14: Economic & Financial Strategy
14 E c o n o m i c & F i n a n c i a l S t r a t e g y Well-defined financing strategy goals – reduction in interest charges and increasing average life of debt, 1 capitalising on our strong credit profile Focused & flexible investment programme – capex is discretionary and for growth. Take advantag
Slide 15: Group indebtedness overview
15 G r o u p i n d e b t e d n e s s o v e r v i e w Gross financial debt - Level Gross financial debt - Interest rate NET FINANCIAL DEBT BREAKDOWN BY NATURE (€m) 20% Corporate 38% Fixed Project 62% Variable 80% Gross financial debt - Currency Corporate debt 13% Euro 6% 37% Bank Debt USDollar 63% No
Slide 16: ACCIONA – Debt maturity breakdown
16 A C C I O N A – D e b t m a t u r i t y b r e a k d o w n Gross debt maturities (€m) 1,962 1,843 784 688 654 479 144
Slide 17: Sustainability Master Plan and quantitative targets
17 S u s t a i n a b i l i t y M a s t e r P l a n a n d q u a n t i t a t i v e t a r g e t s The Sustainability Master Plan 2020 is structured into overall strategic and operational objectives that permeate the entire organisation 2020 key objectives Notable progress in 2019 SOCIETY: Enhance manag
Slide 18: Next frontier in Sustainability – Additionality
18 N e x t f r o n t i e r i n S u s t a i n a b i l i t y – A d d i t i o n a l i t y 1. ESG PERFORMANCE 2. IMPACT MAXIMIZATION 3. SDG ORIENTED PORTFOLIO INTERNAL FOCUS CLIENT-ORIENTED MEASURE INTEGRATE TRANSFORM CONTRIBUTE ADDITIONALITY IMPACT Maximising incremental Maximising measurable positive
Slide 19: Next frontier in Sustainability – Additionality
19 N e x t f r o n t i e r i n S u s t a i n a b i l i t y – A d d i t i o n a l i t y Additionality – Enhanced impact solution MAIN PROJECT Integrates best sustainability practices from the design phase. ADDITIONAL positive Impact Project valued by communities and other stakeholders in the environm
Slide 20: Green financing considerations
20 G r e e n f i n a n c i n g c o n s i d e r a t i o n s The group's financing strategy is aligned with the company's purpose of providing solutions for achieving the United Nations Sustainable Development Goals by its activities and/or performance: FINANCING SPECIFIC CHALLENGES IN THE SUSTAINABLE