Acciona Sa · BME:ANA
Acciona Sa — Investor Presentation (November 2021)
23 slides from Acciona Sa's investor presentation, November 2021
Slide 1: ACCIONA Company Overview
November 2021 ACCIONA Company Overview
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by ACCIONA. S.A. (“ACCIONA” or the “Company”) exclusively for use during the of 1933, as amended (the “Securities Act”). Neither this presentation nor any part or copy of it may be published, released, presentation of financial results. Therefore it cannot
Slide 3: ACCIONA at a Glance
ACCIONA AT A GLANCE A leading greenfield developer and operator of sustainable Energy & Infrastructure assets ENERGY: ONE OF THE WORLD’S LARGEST OPERATORS OF RENEWABLE GENERA TION › 82,73% stake in ACCIONA ENERGÍA, listed on July 2021 › 10.7GW of installed capacity (Wind, Solar, Hydro, CSP and Bioma
Slide 4: Core Strengths
CORE STRENGTHS LEADING DEVELOPER AND OPERATOR OF ESSENTIAL INFRASTRUCTURES MAKING A REAL IMPACT › Strategy aligned with Sustainable Developments Goals challenge – long-term Growth Megatrends › IPO of ACCIONA Energía – a major potential catalyst to accelerate profitable growth with Net Zero 2050 as h
Slide 5: Financial Results Highlights - FY 2020
FINANCIAL RESULTS HIGHLIGHTS - FY 2020 FY 2020 (€m) % Chg. vs FY 2019 FY 2020 (€m) FY 2019 (€m) Revenues 6,472 -10% Net Investment 526 1,241 EBITDA 1,124 -22% FY 2020 (€m) FY 2019 (€m) (1) EBT 508 -7% Net Financial Debt 4,733 5,317 of which Nordex contribution 79 Net Financial Debt (excl. IFRS16) 4,
Slide 6: Group EBITDA Mainly Driven by Energy
GROUP EBITDA MAINLY DRIVEN BY ENERGY EBITDA 2020: €1,124m ND/EBITDA 4.2x 74% 19% 7% ENERGY INFRASTRUCTURE OTHER ACTIVITIES EBITDA: €831m EBITDA: €213m EBITDA: €80m (46.7% margin) (4.7% margin) (21.2% margin) ▪ 10.7GW generation assets ▪ Construction ▪ Bestinver - Asset management › 79% wind ▪ Conces
Slide 7: ACCIONA: EBITDA by Type of Activity
ACCIONA: EBITDA BY TYPE OF ACTIVITY LT CONTRACTED ASSETS & INFRA 70% MANAGEMENT 61% CONTRACTS (1) 14% 23% 9% Non - LT Contracted (11%) 10% Generation (12%) 77% 67% FY 2020 FY 2019 GREENFIELD DEVELOPMENT BUSINESS LONG-TERM ASSET BUSINESS SERVICES BUSINESS Greenfield Infrastructure – Construction & Wa
Slide 8: Strategy – Rationale for the IPO of ACCIONA Energía
STRATEGY – RATIONALE FOR THE IPO OF ACCIONA ENERGÍA Date Stake retained IPO Price 1ST July 2021 82.723% €26.73/share = €8.8bn Renewable energy market has reached maturity following 30 years of history – proven technology, fully competitive & integrated into the electricity system Unique window of op
Slide 9: Strategy - ACCIONA Energía Business Plan
STRATEGY - ACCIONA ENERGÍA BUSINESS PLAN Unconstrained, competitive, and focused on maximising growth & value extraction Growth potential boosted by IPO >30GW 20GW › BEST-IN-CLASS › STAND-ALONE › PURE-PLAY 10.7GW 2020 Target 2025 Target 2030
Slide 10: Strategy – Impact of ACCIONA Energía IPO on Balance Sheet
STRATEGY –IMPACT OF ACCIONA ENERGÍA IPO ON ACCIONA’S BALANCE SHEET Net financial debt pre - ANE’s IPO (€m) Net financial debt post - ANE’s IPO (€m) 487 5,792 5,305 53 4,326 (1,320) (198) Net Debt IFRS 16 Net Debt incl. IPO Green IPO Proforma H1 2021 liability IFRS16 Proceeds Shoe transaction Net Deb
Slide 11: Strategy – Growth in Sustainable Infra Market
STRATEGY – GROWTH IN SUSTAINABLE INFRA MARKET Excellent positioning of non-energy businesses – poised to benefit from stand-alone focus and new structure PROPERTY URBAN INFRA WATER DEVELOPMENT MOBILITY BESTINVER ▪ Accelerate ▪ Increase weight of mid & ▪ Increase weight of ▪ Electrical and sustainabl
Slide 12: ACCIONA Energía - Overview
ACCIONA ENERGÍA - OVERVIEW LARGEST INDEPENDENT RENEWABLE ENERGY PURE-PLAY (EX-CHINA) PIONEER IN THE LARGE-SCALE DEPLOYMENT AND OPERATION OF RENEWABLES ACROSS THE GLOBE GLOBAL REACH & TECHNOLOGICAL DIVERSIFICATION – DISTINCT COMPETITIVE ADVANTAGES €1.8BN REVENUES AND €0.9BN EBITDA IN 2020 LARGE, EFFI
Slide 13: ACCIONA Energía Global Footprint – Installed Capacity (MW)
ACCIONA ENERGÍA GLOBAL FOOTPRINT – INSTALLED CAPACITY (MW) Global reach with presence in 16 countries across 5 continents with 10.7GW of total installed capacity in 2020 Canada 181 Spain 5,677 Poland 101 Wind 4,738 Hydro 873 Hungary 24 USA 1,128 Biomass 61 Wind 1,064 PV 4 Ukraine 100 CSP 64 Croatia
Slide 14: Infrastructure Business - Overview
INFRASTRUCTURE BUSINESS - OVERVIEW Global leader in Low/Carbon transformative Infrastructure projects Differentiation through specialization and ground-breaking use of technology ACCIONA provides innovative, sustainable and impactful solutions globally CONSTRUCTION WATER Specialist in large civil co
Slide 15: Project Backlog at Record High
PROJECT BACKLOG AT RECORD HIGH €9.1bn of new project awards in FY2020 and additional €2.4bn of H1 2021 €337m Jubail 3B desalination plant in Saudi Arabia Significant €315m Tren Maya Playa Carmen – Tulum in Mexico new projects additions €213m Southern Program Aliance AWP4 in Melbourne (Australia) €24
Slide 16: Infra Business – Recent & Ongoing Projects
Infrastructure business – Recent & ongoing projects Infrastructure INFRA BUSINESS – RECENT & ONGOING PROJECTS E6 Highway Moss Railway Roads O&M €0.4bn (100%) €0.6bn (45%) €0.2bn (100%) Föllo Line Rail SITE C - Dam €1.3bn (60%) Lion’s Gate WTP €1.5bn (50%) €0.4bn (100%) Vancouver Subway 2 HS Rail €0.
Slide 17: Other Activities – Property Development
OTHER ACTIVITIES – PROPERTY DEVELOPMENT Property development strategy Total GAV breakdown H1 2021 focused on four areas Land Bank: c.5,000 units equivalent to ~5 years of deliveries 1,700 units under commercialization in Spain, Poland, Mexico and Development Portugal, out of which 935 units (valued
Slide 18: Other Activities - Bestinver
OTHER ACTIVITIES - BESTINVER Leading independent provider of comprehensive financial services Assets Under Average Assets Under Key highlights Management (€m) Management (€m) ▪ Leading independent asset manager in Spain - strongest brand, track-record and growth potential ▪ Widely recognized brokera
Slide 19: Net Financial Debt
NET FINANCIAL DEBT Net financial debt breakdown by nature (€m) Net debt & cash interest evolution (€m) Average Average Av. maturity undrawn cost of debt debt maturity (years) Credit Lines (years) Project Debt Corporate (1) Debt 1. Impact of reclassifing from long to short term bank debt to be cancel
Slide 20: Sustainability – On to the Next Frontier
SUSTAINABILITY –ON TO THE NEXT FRONTIER RESPONSIBLE RESILIENT REGENERATIVE COMPETITIVE ADVANTAGE SUBSTANTIAL POSITIVE IMPACT CONTRIBUTION LOCAL INTEGRATE MEASURE POSITIONING CORPORATE 2010-2015 2015-2020 2020-2025 2025-2030 MINIMIZE NEGATIVE EFFECT SUBSTANTIAL CONTRIBUTION BASED ON COMPROMISE AND RE
Slide 21: Sustainability Master Plan 2021-25
SUSTAINABILITY MASTER PLAN 2021-25 Structural adaptation – preparing the company for the new phase of global transformation ACCIONA invests in, develops and operates infrastructure assets that make our planet more sustainable This plan aims to become a recognized leader in developing basic infrastru
Slide 22: ESG Results Highlights – H1 2021
ESG RESULTS HIGHLIGHTS – H1 2021 Key ESG indicators ESG highlights ▪ Launch of the new Sustainability Master Plan (SMP) 2025 that adds “regeneration” to People 30-Jun-21 30-Jun-20 % Var the “responsibility” and “resilience” dimensions of the two previous plans (3R approach) Workforce (nº) 38,967 35,
Slide 23: ESG Analysts' Ratings
ESG ANALYSTS' RATINGS ACCIONA has been evaluated in the context of sustainability by various ESG analysts * The Sustainalytics ESG Risk Rating evaluation gives a lower score to those companies with less exposure and better management of their ESG risks. Presence in Sustainability Indices Provider In