Korea Electric Power Corporation · KRX:015760
Korea Electric Power — Investor Presentation (March 2020)
19 slides from Korea Electric Power's investor presentation, March 2020
Slide 1: KEPCO Investor Presentation
KEPCO Investor Presentation March 2020
Slide 2: Disclaimer
Disclaimer This presentation material is being presented to you solely for your information and may not be taken away by you and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose. This presentation materi
Slide 3: Contents
Contents l Company Profile ll Business & Operation lll Financials lV Overseas Business 3
Slide 4: I. Company Profile
I. Company Profile 4
Slide 5: Dominant Player in Korea
Dominant Player in Korea Company Profile As of End of 2019 / KRW/USD = 1,157.80 Major Business Korean Government Moody’s S&P Fitch (51%) Govt. Aa2 AA AA- Transmission & Distribution KEPCO Aa2 AA AA- 100% market Total assets: ￦197.7 tn ($170.8 bn) share in Korean Total revenues: ￦59.1 tn ($51.0 bn) p
Slide 6: II. Business & Operation
II. Business & Operation 6
Slide 7: Power Sales
Power Sales Business & Operation Historical Power Sales & GDP Growth Sales Volume Growth Forecast Power Sales Growth(%) GDP Growth(%) 10.1 5.7 6.5 2.1% 4.5 4.8 2.2% 1.6% 2.4 2.5 3.3 3.1 3.6 5.5 1.8 2.6 2.7 3.0 2.0 3.7 1.3 2.8 2.8 0.7 2.3 3.0 2.2 2020(F) 2021~2025(F) 2026~2031(F) 0.6 -1.1 '07 '08 '09
Slide 8: Tariff
Tariff Business & Operation Historical Tariff Adjustment Effective Jan 07 Jan 08 Nov 08 Jun 09 Aug 10 Aug 11 Dec 11 Aug 12 Jan 13 Nov 13 Dec 16 5.4% 4.5% 4.9% 4.5% 4.9% 3.9% 3.5% 4.0% Avg. Change 2.1% 0.0% -1.7% Residential 0.0% 0.0% 0.0% 0.0% 2.0% 2.0% 0.0% 2.7% 2.0% 2.7% -11.6% Commercial 0.0% -3.
Slide 9: Fuel Expense
Fuel Expense Business & Operation Generation Mix Fuel Cost Mix 2018 2019 2018 2019 52.9% Coal 51.4% Coal 62.0% 64.1% 31.7% Nuclear 35.4% LNG 26.8% 23.5% 1.4% 11.9% 10.2% 0.7% LNG Oil 4.1% Oil 4.0% 2.1% 2.3% Nuclear 6.4% Others1) 1.9% 5.2% 2.0% Others1) Fuel Expense Unit Price & FX Rate Fuel Expense
Slide 10: III. Financials
III. Financials 10
Slide 11: Capital Structure
Capital Structure Financials Capital Structure Debt Ratio & Interest Rate Interest Bearing Debt to Equity Ratio Average Interest Rate Other Total Liabilities 118.3% 114.6% Equity Shareholders’ KRW Total 98.5% KRW 68.9Tn 60.9Tn 86.5% 85.8% Equity 73.4% 75.0% Liabilities Debt KRW 67.9Tn 4.1% 3.8% 3.7%
Slide 12: 2019 Earnings Results (Unaudited)
2019 Earnings Results (Unaudited) Financials (KRW Bn) 2018 2019 YoY Major Factors of YoY Change 1.OPERATING REVENUE 60,628 59,093 -2.5% Sale of electric power 56,842 55,939 -1.6% Operating revenue of W59.1 tn in 2019, a 2.5% Revenues from Other Businesses 3,786 3,154 -16.7% decrease from W60.6tn in
Slide 13: Investment Plan
Investment Plan Financials Capital Expenditure Projection (KEPCO + 6 GENCOs) (KRW Bn) 13,665 15,809 16,113 18,243 17,125 Transmission & Distribution 7,236 6,213 6,441 7,414 Nuclear Generation 6,008 3,268 3,774 3,342 Thermal Generation 3,796 3,215 3,351 2,927 3,735 Renewable Energy 3,531 2,264 2,861
Slide 14: Major Financial Ratios
Major Financial Ratios Financials Operating Profit Margin1) & Net Profit Margin2) Return on Equity (ROE)5) Operating Profit Margin 19.2% 19.9% 22.1% Net Profit Margin 10.1% 8.3% 10.2% 2.8% 5.2% -0.3% 1.8% -2.3% 0.1% -1.8% -1.3% 22.8% 11.9% 0.3% 4.9% 2.4% -1.9% -3.8% 2013 2014 2015 2016 2017 2018 201
Slide 15: IV. Overseas Business
IV. Overseas Business 15
Slide 16: Overseas Business – 42 Projects in 26 Countries
Overseas Business – 42Projects in 26 Countries Overseas Business Colorado Photovoltaic 30MW Shanxi Coal 9,135MW Fujeij Wind 89MW California Photovoltaic 235MW Wind 1,024MW Al Qatrana Gas373MW Amman Disel 573MW USA China Jordan Japan Chitose Photovoltaic 28MW Nghi Son Coal 1,200MW U
Slide 17: Overseas Business – 50 Projects in 28 Countries
Overseas Business – 50Projects in 28Countries Overseas Business Generation (24Projects) Projects in Operation Total Capacity(MW) KEPCO Capacity(MW) Period Philippines Ilijan BOT Combined-cycle plant 1,200 612 Jun-02 ~ Jun-22 Philippines Cebu BOO Coal-fired plant 200 120 Jun-11 ~ Jun-36 Philippines S
Slide 18: Overseas Business – UAE Nuclear Project
Overseas Business – UAE Nuclear Project Overseas Business Project Overview Project Capacity: 5,600MW (APR* 1400 4 units) Contract Amount: USD19.1 Bn (Subject to change based on price escalation provisions) Contract Term: Dec. 2009 to Dec. 2020 Scope of Major Services: Design and construction of 4 nu
Slide 19: Appendix
Appendix General Information Shareholders & Listing Status (As of End of 019) (As of End of 2019) Incorporation: January 26, 1898 KDB 33% Korean Underlying Shares Contributed Capital: KRW 4.1 trillion (USD 3.4 billion) Government 51% Korean 18% Korea Stock Exchange Major Business: Supply of Electric
Korea Electric Power — Investor Presentation (March 2020) on 6ix