El5-ener · RUS:ELFV
El5-ener — Enel OGK-5 — 9M 2013 Earnings Presentation
13 slides from El5-ener's earnings presentation, Oct 31, 2013
Slide 1: Enel OGK-5 9M 2013 Results
Enel OGK-5 9M 2013 Results Moscow, 31 October 2013
Slide 2: Agenda
Enel OGK 5 Enel OGK-5 9M 2013 Results Investor Relations Agenda • Financial Highlights • Power Generation and Sales • Unit Margin on Sales • Focus on CCGTs • Revenues and costs • EBITDA Evolution • From EBITDA to Net Income • Net Debt Evolution • Focus on Liquidity 2
Slide 3: Financial Highlights (Mn RUR)
Enel OGK 5 Enel OGK-5 9M 2013 Results Investor Relations Financial Highlights (Mn RUR)1 9M 20122 9M 2013 % Revenues 48,012 50,700 +6 EBITDA 11,004 12,288 +12 EBITDA margin (%) 23 24 Net Income 4,429 3,491 -21 Net Debt 24,9683 24,965 - EBITDA/Net financial expenses4 5.3 7.1 Net Debt/EBITDA5 1.7 1.6 N
Slide 4: Power Output and Sales
Enel OGK 5 Enel OGK-5 9M 2013 Results Investor Relations Power Output and Sales Net Output (TWh) Power Sales (TWh) -5% -5% 33.0 31.3 37.4 11% CCGT 35.6 12% Free Coal 47% 47% 84% 83% Regulated Gas 42% 41% 16% 17% 9M12 9M13 9M12 9M13 Plant availability Utilization on total capacity 81% 82% 55% 52% 9M1
Slide 5: Unit Margin on Sales (RUR/MWh)
Enel OGK 5 Enel OGK-5 9M 2013 Results Investor Relations Unit Margin on Sales (RUR/MWh)1 Unit Price +9% Unit Margin on Sales 927 1008 +9% 188 9M12 9M13 172 Unit Cost of Sales2 9M12 9M13 +9% 755 820 9M12 9M13 Favourable coal price dynamics lead to higher unit margin on sales 1 Excluding capacity paym
Slide 6: Focus on CCGTs
Enel OGK 5 Enel OGK-5 9M 2013 Results Investor Relations Focus on CCGTs Net Output (TWh) 3.7 3.7 9M 2013 Spreads (RUR/MWh)1 325 9M12 9M13 40 9M 2013 utilization on total capacity Conventional CCGTs gas units 70% 41% Conventional CCGTs gas units 1 Calculated as average DAM selling price of Enel OGK-5
Slide 7: Revenues and costs (Bn RUR)
Enel OGK 5 Enel OGK-5 9M 2013 Results Investor Relations Revenues and costs (Bn RUR) Operating revenue breakdown Variable costs 30.0 31.0 50.7 4.1 4.2 48.0 2.8 Fuel 2.3 26.8 25.9 12.2 Purchased power 11.1 Power Capacity 9M12 1 9M13 2 34.6 35.7 Heat and other Fixed costs 7.7 7.8 O&M manageable 0.6 0.
Slide 8: EBITDA evolution (Mn RUR)
Enel OGK 5 Enel OGK-5 9M 2013 Results Investor Relations EBITDA evolution (Mn RUR) +12% +1,537 -138 -115 12,288 11,004 Fixed costs Other items Generation margin 9M 2012 9M 2013 EBITDA growth driven by generation margin expansion 8
Slide 9: From EBITDA to Net Income (Mn RUR)
Enel OGK 5 Enel OGK-5 9M 2013 Results Investor Relations From EBITDA to Net Income (Mn RUR) 9M 2012 9M 2013 % EBITDA 11,004 12,288 +12 Depreciation and amortisation1 (3,592) (5,664) +58 EBIT 7,412 6,624 -11 Net Financial Charges2 (1,903) (2,371) +25 EBT 5,509 4,253 -23 Income Tax (1,080) (763) -29 N
Slide 10: Net Debt Evolution
Enel OGK 5 Enel OGK-5 9M 2013 Results Investor Relations Net Debt Evolution Net Debt (Mn RUR) Hedged Debt on Total Debt -3 8% 17% Unhedged 83% 92% Hedged 24,968 -9,492 +1,003 24,965 31Dec12 30Sep13 +1,646 +6,840 Net financial FX charges Average Cost of Debt 9M 2012 9M 2013 Cash flow from Capex Cost
Slide 11: Focus on Liquidity
Enel OGK 5 Enel OGK-5 9M 2013 Results Investor Relations Focus on Liquidity Available credit facilities (Bn RUR)1 Utilized amount (%) -4.5 63% 64% 48.8 44.3 75% 73% 27% 25% 31Dec12 30Sep13 31Dec12 30Sep13 Long-term Short-term Well-balanced debt structure 1 Not adjusted for FX differences on EUR-nomi
Slide 12: Disclaimer
Enel OGK 5 Investor Relations Disclaimer This presentation contains certain statements that are neither reported financial results nor other historical information (“forward-looking statements”). These forward-looking statements are based on OJSC Enel OGK-5 ’s current expectations and projections ab
Slide 13: Contact Us
Enel OGK 5 Investor Relations Contact Us • Alexey Leonov (Head of IR) +7 495 539 31 31 ext. 7631 alexey.leonov@enel.com Visit our website at: www.enel.ru (Investor Relations) 13