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E.on — Debt Investor Presentation (September 2023)
19 slides from E.on's debt investor presentation, Sep 20, 2023
Slide 1: CHF Credit & ESG Update
CHF Credit & ESG Update 20 September 2023 Non-deal related
Slide 2: Highlights
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Slide 3: We are the green energy transition company
Credit & ESG Update We are the green energy transition company Mostly regulated infrastructure business Long term contracted infrastructure business Diversified energy retail portfolio Energy Networks Energy Infrastructure Solutions Energy Retail ~€36.4bn ~19.5 TWh ~47m Regulated Asset Base (RAB) He
Slide 4: We are gaining momentum and continue to make great progress
Credit & ESG Update We are gaining momentum and continue to make great progress 1 2 3 H1 delivery Guidance increased Energy transition accelerator We continue our good start Strong operations and We accelerate the green into the year with strong increasing stabilization of the energy transition in E
Slide 5: We improved across our segments and have upgraded our 2023 targets
Credit & ESG Update We improved across our segments versus the crisis year and have upgraded our 2023 targets Guidance Guidance Energy Networks upgrade Customer Solutions upgrade • Continue to invest in energy transition • Successfully operating energy retail business in +36% CAPEX yoy unprecedented
Slide 6: ESG Update
ESG Update 02
Slide 7: E.ON's sustainability performance positively reflected in ESG rating upgrades
Credit & ESG Update E.ON’s sustainability performance positively reflected in ESG rating upgrades Rating: AA Rated on a AAA to CCC scale High relative performance ESG Risk Rating: 17.6 (low risk) (upgrade from 23.8 (medium risk) in 8/’23) Rated on a 0 to 40+ scale Rank 4 (previously 22) out of 101 i
Slide 8: E.ON's Green Bond Framework overview
Credit & ESG Update E.ON’s Green Bond Framework overview Process for selection of Management of Green assets and capex green assets and capex use-of-proceeds Reporting + External Verification • Electricity Networks (DSO) • All projects directly • E.ON strives to maintain • Annual allocation • Renewa
Slide 9: Green Bond categories
Credit & ESG Update Green Bond categories Electricity Networks (DSO) Renewable Energy Energy Efficiency Clean Transportation Renewable energy production and Integrated on-site business and city EV charging stations and supporting All distribution infrastructure and storage including3 energy solution
Slide 10: Extensive Green Bond allocation reporting
Credit & ESG Update Extensive Green Bond allocation reporting1 1. Green Bond Report available here: https://www.eon.com/en/investor-relations/bonds/green-bonds.html 10
Slide 11: Credit Update
Credit Update 03
Slide 12: Disciplined cash management ensuring green growth with a debt factor up to 5.0x
Credit & ESG Update Disciplined cash management ensuring that green growth will be delivered together with a debt factor up to 5.0x Disciplined cash management • Working capital excellence program successfully implemented Debt factor1 target of • Support from proactive cash collections during crisis
Slide 13: Long-term ratings
Credit & ESG Update Stable ratings with stable outlook WN BBB+ / Baa1 Long-term ratings Fitch1 RfD Moody‘s BBB / Baa2 S&P BBB- / Baa3 2017 2018 2019 2020 2021 2022 2023 • Issuer rating: BBB+ (stable outlook) • Issuer rating: Baa2 (stable outlook) • Issuer rating: BBB (stable outlook) • Short-term ra
Slide 14: Sound funding strategy enabling sustainable green growth path
Credit & ESG Update Sound funding strategy enabling sustainable green growth path Volumes Tenors Green bonds Currencies Diversification Funding €2.5-5bn p.a. 3-30 years >50% EUR, GBP, others More instrument Funding 2023 already preferred variety completed in January • Bond • Optimize • Majority of •
Slide 15: Key developments since last update in Q4 2022
Credit & ESG Update Key developments since last update in Q4 2022 FY 2022 above guidance and higher FY 2023 guidance further upgraded Debt factor target diligently adjusted downwards S&P target ratio threshold reduced ESG ratings significantly improved Last nuclear power generation activities shut d
Slide 16: Appendix
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Slide 17: 2023 guidance upgrade with 2027 outlook unchanged
Credit & ESG Update 2023 guidance upgrade with 2027 outlook unchanged €bn Actuals FY 2022 FY 2023 FY 2027 EBITDA 1 6.975 7.8-8.0 8.6-8.8 2 ~9.0 • FY 2023 guidance upgraded Energy Networks 5.459 6.0-6.2 6.3-6.5 6.5-6.7 • Full regulatory visibility for Energy Customer Solutions 1.686 1.8-2.0 2.3-2.5 2
Slide 18: Financial calendar & important links
Credit & ESG Update Financial calendar & important links Financial calendar November 08, 2023 March 13, 2024 May 15, 2024 May 16, 2024 Quarterly Statement Full Year Financial Report Quarterly Statement Annual General Meeting January – November 2023 2023 January – March 2024 Important links Presentat
Slide 19: Disclaimer
Disclaimer This presentation contains information relating to E.ON Group (‘E.ON’) 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 any other purpose. By accessing this document, you agre