Slide 1: Full Year Results
Full Year Results Powering a Sustainable Energy Future 09 March 2022
Slide 2: 2021: a year of resiliency and recovery for AboitizPower
2021: a year of resiliency and recovery for AboitizPower
Slide 3: Beneficial EBITDA up by 16%
Quarterly Breakdown Beneficial EBITDA up by 16% -4% in PHP millions 16% vs FY2020 20% *-11% vs 4Q2020 +16% vs LY: ● +9% higher WESM dispatch 4% ● +8% higher availability of TSI, TVI, TLI facilities ● -8% GMEC outage ● +5% GNPD commissioning revenue ● +2% higher water inflows ● +1% other income 3
Slide 4: Core income up by 68%
Core income up by 68% EBITDA Net Interest Depcn. & Amort. Tax & Others Core Income Expense Php mn FY2020 FY2021 Change EBITDA 43,452 16% Less: Net Interest Expense 13,765 -2% Depcn. & Amort. 11,026 2% Tax & Others 6,129 -26% Core Income 12,532 68% EPS 1.70 Qo AboitizPower
Slide 5: Net income up by 66%
Net income up by 66% Qo AboitizPower Core Income Net Income Php mn FY2020 FY2021 Change Core Income 12,532 21,066 68 Net Income 12,578 20; EPS LIL 2.83
Slide 6: Balance sheet remains strong
Balance sheet remains strong *Total Interest Bearing Debt / Total Equity 6
Slide 7: Capacity sales grew by 10%
Capacity sales grew by 10% Capacity Sales in MW 10% 7
Slide 8: Revenue and energy sold increased
Revenue and energy sold increased Revenue Energy Sold in PHP millions in GWh 37% 14% 8
Slide 9: Gross margin increased by 68%
Quarterly Breakdown Gross margin increased by 68% in PHP millions in PHP millions 1% 37% 46% 16% 97% in GWh 13% 12% in GWh -8% 9
Slide 10: Spot and BCQ selling prices increased
Spot and BCQ selling prices increased in (P/kWh) 133% 18% Ave NEWC $137/MT in FY2021 vs $60/MT in FY2020 10
Slide 11: Availability of TLI, TSI and TVI was at 87%
Availability of TLI, TSI and TVI was at 87% TLI, TSI, TVI at 87% NERC – North American Electric Reliability Corporation 11
Slide 12: Beneficial power sales recovered
Beneficial power sales recovered 4% Beneficial Power Sales in GWh Customer Type Peak Demand in GWh in MW 4% 5% 2% 12
Slide 13: Average gross margin slightly declined
Average gross margin slightly declined Gross Margin / kWh Feeder Loss 13
Slide 14: Average FY LWAP increased
Average FY LWAP increased Q42021 Ave LWAP P6.04 (P/kWh) Q32021 Ave LWAP P4.86 (P/kWh) Q12020 Ave LWAP Q22021 Ave LWAP P2.94 (P/kWh) P5.67 (P/kWh) FY2021 Ave LWAP P4.85 (P/kWh) FY2020 Ave LWAP P2.40 (P/kWh) Q12021 Ave LWAP Q22020 Ave LWAP Q32020 Ave LWAP Q42020 Ave LWAP P2.82 (P/kWh) P2.17 (P/kWh) P2
Slide 15: Luzon supply and demand situation is tightening
LUZON SUPPLY AND DEMAND SITUATION IS TIGHTENING 15
Slide 16: We are working on 1,960 MW of disclosed projects
We are working on 1,960 MW of disclosed projects* Under construction Grid Project Capacity (Net) % Ownership Attributable Net Sellable Capacity Estimated Commercial Operation Date Luzon Dinginin Unit 1 668 MW 70% 468 MW COD January 26, 2022 Dinginin Unit 2 668 MW 70% 468 MW Commissioning Cayanga Sol
Slide 17: We are working on 1,960 MW of disclosed projects
We are working on 1,960 MW of disclosed projects* Priority Development Grid Project Capacity (Net) % Ownership Attributable Net Sellable Capacity Estimated Commercial Operation Date Luzon Magat Battery 20 MW 50% 10 MW 1H 2024 San Manuel Solar 84 MWp* 100% 84 MWp* Q4 2024 Tarlac Solar 44 MWp* 100% 44
Slide 18: Our 2 x 668 MW Dinginin coal power plants are in the final stages
Our 2 x 668 MW Dinginin coal power plants are in the final stages of construction 18
Slide 19: Our 94 MWp Cayanga Solar
Road grading at PV plant site Grading works at the substation area Our 94 MWp Cayanga Solar Power project will operate by year end 19 Establishment of foundations for temporary office Temporary office pedestal installation
Slide 20: Our 20 MW Magat Battery Energy Storage System is being developed
Our 20 MW Magat Battery Energy Storage System is being developed 20
Slide 21: MakBan and Tiwi Capacity Optimization Projects are ongoing
MakBan and Tiwi Capacity Optimization Projects are ongoing 21
Slide 22: Our 49 MW Maco Hybrid Battery Energy Storage System
Our 49 MW Maco Hybrid Battery Energy Storage System will be running by May this year 22
Slide 23: We have allocated P28 billion for CapEx this year
We have allocated P28 billion for CapEx this year PHP28 billion1 PHP14 billion2 PHP17 billion2 PHP35 billion2 *Includes 100% of Subsidiaries and Affiliates 1 - Budgeted figure 2 - Actual figure 23
Slide 24: Dividend yield increased to 4.2%
Dividend yield increased to 4.2% Payout Ratio: 1/2 of previous year’s consolidated net income 2022 Dividend Yield: Computed based on March 4, 2022 closing price (P34.25) 24
Slide 25: 50:50 Balanced Mix Portfolio
Driving the Aboitiz Great Transformation 50:50 Balanced through sustainable energy transition Mix Portfolio
Slide 26: AboitizPower
20 AboitizPower