Slide 1: 9M 2019 Interim Results
9M 2019 Interim Results Sascha Bibert – CFO 12 November 2019
Slide 2: 9M 2019 Results in-line with Expectations, Outlook increased
9M 2019 Results in-line with Expectations, Outlook increased Adj. EBIT(DA) – 9M 2019 down vs. previous year Outlook 2019 – EBIT raised and range narrowed1 €m 891 €m -171 720 EBIT +150 950 -183 865 850 Range 386 EBITDA 203 Range 750 9M 2018 9M 2019 550 Adj. EBIT(DA) – Isolated Q3 2019 up €m EBIT EBIT
Slide 3: Key Developments
Key Developments Team Shareholder Outstanding health & safety performance Fortum with acquisition of additional min. 20.5%, Positive employee survey subject to regulatory clearance New COO announced Constructive talks continue m y Performance Portfolio & Strategy Datteln 4 power plant
Slide 4: Commodity Markets – Volatile Trend
Commodity Markets – Volatile Trend Carbon trading prices1 Gas prices2 Electricity prices3 Dark & spark spreads4 EUR/t CO2 EUR/MWh EUR/MWh EUR/MWh 30 24 60 7 25 22 50 4 20 20 40 1 15 18 30 -2 10 EUA 16 20 -5 TTF Germany CDS 2020 Nordic CSS 2020 5 14 10 -8 Jan 2018 Oct 2018 Jul 2019 Jan 2018 Oct 2018
Slide 5: Uniper – Operating Indicators
Uniper – Operating Indicators Global Commodities – European Generation – International Power – Key messages Gas storage filling1 Production volume2 Production volume Global Commodities TWh TWh TWh Gas storage filling levels at 79% 98% 60 -11% 60 +3% maximum 90 European Generation 50 50 75 Fuel s
Slide 6: Adjusted EBIT 9M 2019 – Down largely due to structural effects
Adjusted EBIT 9M 2019 – Down largely due to structural Effects Reconciliation Adjusted EBIT 9M 2018 to 9M 2019 €m Adj. EBIT 9M 2018 386 Overall trend persistent in Q3 H1 2018 One-offs 9M 2019 negatively impacted by H1 2018 one-offs, LNG Freeport hedge and absence LNG Freeport of UK capacity paymen
Slide 7: Adjusted EBIT 9M 2019 – Development by Sub-Segment
Adjusted EBIT 9M 2019 – Development by Sub-Segment European Generation Global Commodities International Power €m €m €m 16 -49 6 18 -16 260 220 -64 -62 204 137 126 -80 1 9M Hydro Nuc. Fossil Cons. 9M 9M Gas COFL Power 9M 9M 2018 Russia 9M 2019 2018 2019 2018 2019 Hydro: lapse of Q2 2018 provision
Slide 8: Adjusted EBIT to OCF – Negative due to temporary Working Capital Effects
Adjusted EBIT to OCF – Negative due to temporary Working Capital Effects Reconciliation Adjusted EBIT 9M 2019 to Operating Cash Flow 9M 2019 €m 401 517 720 -800 203 18 -218 -277 -557 -16 -44 Adj. EBIT Depreci- Adj. EBITDA Non-cash Provision Changes in Payments OCFbIT Interest Tax OCF 9M 2019 ation a
Slide 9: Economic Net Debt – Up mainly due to Working Capital and Pensions
Economic Net Debt – Up mainly due to Working Capital and Pensions Reconciliation Economic Net Debt YE 2018 vs. 9M 2019 €bn 0.1 3.6 0.4 3.2 0.4 -0.1 0.8 0.3 0.9 2.5 0.3 -0.7 0.9 1.2 0.8 -0.3 0.8 1.5 1.5 0.8 Economic Margining Pro-forma Divest OCF Dividend Investments Pension ARO Other Economic net de
Slide 10: Outlook 2019 – Adjusted EBIT increased and Dividend Policy confirmed
Outlook 2019 – Adjusted EBIT increased and Dividend Policy confirmed Outlook 2019 – Adjusted EBIT Dividend pay-out and policy €m €m +150 950 865 850 Range Range 750 550 489 390 329 271 200 FY 2018 Old 2019E New 2019E FY2016 FY2017 FY2018 FY2019 FY2020 Dividend above CAGR Mid-point – Raised with rein
Slide 11: Appendix
Agenda Appendix 11
Slide 12: Outright Power Hedging in Germany and Nordic
Outright Power Hedging in Germany and Nordic Outright position – Baseload power price1 >85% >85% >40% €/MWh >80% >60% >10% 60 50 40 30 20 2019 2020 2021 Hedged price Germany Hedge ratio Germany Hedged price Nordic Hedge ratio Nordic 1. Status: 30 September 2019 Uniper SE, 9M 2019 Interim Results, 12
Slide 13: Uniper Group – Adjusted EBIT(DA) by Sub-segment
Uniper Group – Adjusted EBIT(DA) by Sub-segment Adj. EBITDA and EBIT 9M 2019 9M 2018 9M 2019 9M 2018 €m Adj. EBITDA Adj. EBITDA Adj. EBIT Adj. EBIT European Generation Hydro 241 305 196 245 Nuclear 77 91 30 46 Fossil 159 229 -68 -4 Other/ Consol. -19 -25 -22 -27 Subtotal 458 600 137 260 Global Commo
Slide 14: Uniper Group – Key Financial Performance items
Uniper Group – Key Financial Performance items €m 9M 2019 9M 2018 Net income / loss after income taxes 1,056 -521 Attributable to the shareholders of Uniper SE 1,009 -550 Attributable to non-controlling interests 47 29 Net interest income / expense 118 1 Other financial result -119 -22 Income taxes
Slide 15: Uniper Group – Adjusted EBITDA to Net Income
Uniper Group – Adjusted EBITDA to Net Income Reconciliation Adj. EBITDA 9M 2019 to net income 9M 2019 €m 144 947 -28 -113 1,009 720 - 144 - 517 203 59 Adj. D&A Adj. Economic Underlying MTM Net Other Taxes on non- Net EBITDA EBIT interest, taxes, earnings Derivatives impairments operating Income1 min
Slide 16: Uniper Group – Economic Interest Expense (net)
Uniper Group – Economic Interest Expense (net) Economic interest expense of the Uniper Group €m 9M 2019 9M 2018 Interest from financial assets / liabilities 19 9 Interest cost from provisions for pensions and similar provisions -15 -13 Accretion of provisions for retirement and obligation and other
Slide 17: Uniper Group – Non-operating Adjustments
Uniper Group – Non-operating Adjustments Non-operating adjustments €m 9M 2019 9M 2018 Net book gains / losses - 31 Fair value measurement of derivative financial instruments -947 731 Restructuring / cost management expenses / income -33 -51 Non-operating impairment charges / reversals 28 361 Miscell
Slide 18: Uniper Group – Cash-effective Investments
Uniper Group – Cash-effective Investments Investments by segment €m 9M 2019 9M 2018 % European Generation 233 225 3.8 Global Commodities 17 12 41.7 International Power 134 129 4.3 Administration / Consolidation 17 21 -21.4 Total 401 387 3.6 Investment split – maintenance and growth €m 9M 2019 9M 201
Slide 19: Uniper Group – Net financial Position
Uniper Group – Net financial Position Net financial position of the Uniper Group1 €m 30 Sep 2019 31 Dec 2018 Liquid funds 391 1,400 Non-current securities 94 83 Receivables from margining 358 698 Financial liabilities 2,359 2,939 Net financial position 1,517 757 Provisions for pensions and similar o
Slide 20: Uniper Group – Consolidated Balance Sheet (1/2)
Uniper Group – Consolidated Balance Sheet (1/2) Balance sheet of the Uniper Group – Non-current and current assets €m 30 Sep 2019 31 Dec 2018 Goodwill 1,880 1,816 Intangible assets 742 768 Property, plant and equipment 10,745 10,612 Companies accounted for under the equity method 465 440 Other finan
Slide 21: Uniper Group – Consolidated Balance Sheet (2/2)
Uniper Group – Consolidated Balance Sheet (2/2) Balance sheet of the Uniper Group – Equity and liabilities €m 30 Sep 2019 31 Dec 2018 Capital stock 622 622 Additional paid-in capital 10,825 10,825 Retained earnings 3,392 3,032 Accumulated other comprehensive income -3,291 -3,531 Equity attributable
Slide 22: Uniper Group – Consolidated Statement of Cash Flows (1/2)
Uniper Group – Consolidated Statement of Cash Flows (1/2) Statement of cash flows Uniper Group €m 9M 2019 9M 2018 Net income / loss 1,056 -521 Depreciation, amortization and impairment of intangibles / property, plant, equipment 554 875 Changes in provisions -416 -224 Changes in deferred taxes 231 -
Slide 23: Uniper Group – Consolidated Statement of Cash Flows (2/2)
Uniper Group – Consolidated Statement of Cash Flows (2/2) Statement of cash flows Uniper Group €m 9M 2019 9M 2018 Cash provided (used for) by investing activities 461 -1,166 Payments received / made from changes in capital 3 5 Payed dividend to the shareholder of Uniper SE -329 -271 Payed dividend t
Slide 24: Financial Calendar & further Information
Financial Calendar & further Information Financial calendar Further information 10 March 2020 https://ir.uniper.energy Annual Report 2019 07 May 2020 Quarterly Statement January – March 2020 20 May 2020 2020 Annual Shareholders Meeting (Duesseldorf) 11 August 2020 Interim Report January – June 2020
Slide 25: Uniper – Contact your Investor Relations team
Uniper – Contact your Investor Relations team Udo Giegerich Carlo Beck Anna Denisova Executive Vice President Manager Investor Relations Manager Investor Relations Group Finance& Investor Relations +49 211 4579 4402 udo.giegerich@uniper.energy carlo.beck@uniper.energy anna.denisova@uniper.energy Ada
Slide 26: Disclaimer
Disclaimer This document and the presentation to which it relates contains information relating to Uniper SE, ("Uniper" or the "Company") that must not be relied upon for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for