China Suntien Green Energy Corporation Limited Class A · SSE:600956

China Suntien Green Energy Corporation Limited Class A — FY2018 Earnings Presentation

29 slides from China Suntien Green Energy Corporation Limited Class A's earnings presentation, March 2019

  1. Slide 1: 2018 Annual Results Announcement

    2018 Annual Results Announcement March 2019 (0956.HK)

  2. Slide 2: Disclaimer

    Disclaimer  This presentation contains statements that reflect the current beliefs, intent or expectation of the Company or its officers about the future as of the respective dates indicated therein. These forward-looking statements can be recognized by the use of words such as “expects”, “plan”, “

  3. Slide 3: Agenda

    Agenda 1. 2018 Annual Results & Industries Overview 2. Business Review 3. Financial Highlights 4. Business Outlook 3

  4. Slide 4: 1. 2018 Annual Results & Industries Overview

    1. 2018 Annual Results & Industries Overview

  5. Slide 5: Results Highlight

    Results Highlight • The Group’s Gross Profit in 2018 was RMB2.86bn, up 23.9% yoy; Gross Profit margin was 28.7%, down 4ppt yoy • Profit attributable to owners of the Company was RMB1.27bn, up 35.0% yoy Gross Profit and Gross Profit Margin Profit attributable to owners of the Company RMB Mil % RMB Mi

  6. Slide 6: Results Highlight

    Results Highlight • Net Profit After Tax of Natural Gas Segment was RMB471 mil, up 126.7% yoy • Net Profit After Tax of Wind and Solar Energy Segment was RMB1.19bn, up 20.9% yoy Net Profit After Tax of Wind and Solar Net Profit After Tax of Natural Gas Segment Energy Segment RMB Mil RMB Mil 500.0 47

  7. Slide 7: Operating Environment for the Wind Power Industry

    Operating Environment for the Wind Power Industry 2018 Operating environment for the wind power industry  The nationwide power consumption in 2018 amounted to 6,844.9 billion kWh, representing an increase of 8.5% as compared with 2017. In 2018, the newly increased connected grid capacity of wind po

  8. Slide 8: Operating Environment for the Natural Gas Industry

    Operating Environment for the Natural Gas Industry 2018 Operating environment for the natural gas industry  In 2018, the nationwide apparent consumption of natural gas amounted to 280.3 billion cubic meters, representing an increase of 18.1% as compared with 2017.  In May 2018, the NDRC issued the

  9. Slide 9: 2. Business Review

    2. Business Review

  10. Slide 10: 2018 Operating Data Overview

    2018 Operating Data Overview  Consolidated Gross Power Generation increased by 13.9% to 7,676 GWh; Curtailment rate was 5.43%, down 2.39ppt  Utilization hours increased by 90 hours to 2482；Availability factor was 97.97% down 0.01 ppt Wind Power  Consolidated installed capacity of the wind farms w

  11. Slide 11: Wind Power Segment Review

    Wind Power Segment Review Consolidated Wind Power Commercially Operating Wind Consolidated Gross Power Installed Capacity Power Installed Capacity Generation(1) （MW） （MW） （GWh） 4,000 3,500 +483.1 9,000 3,858 3,263 +13.4% +939 8,000 +13.9% 7,676 3,500 3,348 3,000 2,878 7,000 6,737 3,000 2,500 6,000 2

  12. Slide 12: Wind Power Segment Review (Con’t)

    Wind Power Segment Review (Con’t) Average On-grid Tariff (VAT Availability Factor（1） Average Utilization Hours included) % （hours） （RMB/kwh） 100.0 3,000 0.600 0.538 -0.008 0.530 +90 -0.01 97.98 97.97 2,500 2,482 0.500 98.0 2,392 2,000 0.400 96.0 1,500 0.300 94.0 1,000 0.200 92.0 500 0.100 90.0 0 0.0

  13. Slide 13: Wind Power Projects in Hebei

    Wind Power Projects in Hebei Distribution of Consolidated and Associate Installed Wind Power Development in Hebei Wind Power Capacity in Hebei  Added 315 MW of consolidated installed capacity in Hebei; As of end-2018, total consolidated installed capacity was 3,132MW, or 81.2% of the Group’s total

  14. Slide 14: Wind Power Projects in Other Provinces

    Wind Power Projects in Other Provinces Wind Power Development Outside Hebei Consolidated Wind Power Installed Capacity Outside Hebei  Added 194.8 MW of newly installed capacity in other provinces, mainly in Guangxi, Henan, Jiangsu and Inner Mongolia: Inner Mongolia XinJiang: 100MW 99.3MW  As at en

  15. Slide 15: Under Construction and Approved Projects

    Under Construction and Approved Projects Wind Power Under Construction and Approved Projects Distribution of approved un-commenced projects 99MW  Capacity of project under construction was 763.3MW：among which offshore wind farms 150 MW 104MW，onshore wind farms in Hebei 392MW， onshore wind farms out

  16. Slide 16: Natural Gas Segment Review

    Natural Gas Segment Review Gas Sales Volume Wholesale （Mil m3） （Mil m3） +528 2,000 +48.3% 1,620 3,000 1,092 +752 2,631 1,000 +40.0% 3.5% 0 2,500 2017 2018 Retail 1,879 35.0% （Mil m3） 2,000 +221 4.7% 1,000 +31.5% 920 699 1,500 500 37.2% 0 2017 2018 1,000 CNG 61.6% （Mil m3） +4 58.1% +4.8% 500 100 88 9

  17. Slide 17: Natural Gas Segment Review

    Natural Gas Segment Review Locations of Natural Gas Pipelines Construction of Natural Gas Pipeline Projects  Added 1,054.5km km of pipelines in 2018; total length of natural gas pipelines in operation reached 4,142km, including 882km of transmission pipeline and 3,260km of city gas network pipeline

  18. Slide 18: 3. Financial Highlights

    3. Financial Highlights

  19. Slide 19: Group Financial Highlights

    Group Financial Highlights Revenue Gross Profit （RMB Mil） （RMB Mil） 9,975 (%) 10,000 2,860 3,000 80 34.3% 2,308 8,000 7,058 6,000 2,000 43.9% 2,099 32.7% 40 4,000 28.7% 65.7% 1,000 1,849 2,000 56.1% 459 760 0 0 0 2017 2018 2017 2018 Natural Gas Wind Power & PV Natural Gas Wind Power & PV GP Margin O

  20. Slide 20: Wind and Photovoltaic Segment Financial Highlights

    Wind and Photovoltaic Segment Financial Highlights Revenue Gross Profit （RMB Mil） （RMB Mil） (%) 4,000 3,422 2,500 2,099 80 3,100 1,849 3,000 1,500 2,000 60 1,000 500 59.6% 61.3% 0 -500 2017 2018 40 2017 2018 Operating Profit EBITDA (1) （RMB Mil） (%) （RMB Mil） (%) 2,000 1,653 1,913 80 3,000 2,677 2,9

  21. Slide 21: Wind and Photovoltaic Segment NPAT Analysis

    Wind and Photovoltaic Segment NPAT Analysis （RMB Mil） 1400 -29 -10 -11 -33 1190 1200 -22 -11 +322 984 1000 800 600 400 200 0 2017 Inceease in Inceease in Increase in Asso Inceease in Increase in Tax Increase in Admin Change in other 2018 NPAT Revenue DD&A Wind Farm Profits Finance Cost Expenses Expe

  22. Slide 22: Natural Gas Segment Financial Highlights

    Natural Gas Segment Financial Highlights Revenue Gross Profit （RMB Mil） （RMB Mil） (%) 7,500 6,551 1,000 30 760 750 5,000 3,957 459 500 15 2,500 250 11.6% 11.6% 0 0 0 2017 2018 2017 2018 Operating Profit EBITDA (1) （RMB Mil） （RMB Mil） (%) (%) 500 399 20 750 688 30 400 500 416 300 191 10 15 200 250 6.

  23. Slide 23: Natural Gas Segment NPAT Analysis

    Natural Gas Segment NPAT Analysis （RMB Mil） 3,000 2,500 2,000 +2,594 -2,293 1,500 1,000 +86 -41 -58 500 -24 +26 -27 471 208 0 2017 Inceease in Inceease in Inceease in DD&A Decrease in Increase in LNG Increase in AR Increase in Change in other 2018 NPAT Revenue COGS Finance Cost Terminal Profit Provi

  24. Slide 24: Capital Structure

    Capital Structure Total Liabilities / Total Assets 2018 Net Borrowing Breakdown (%) （RMB Mil） 69.4 25,000 70 68.3 2,240 15,000 16,683 19,087 5,000 4,644 (5,000) 50 Short-term Long-term Cash Net borrowings 2017 2018 borrowings borrowings Interest Coverage（EBITDA/Finance Cost） Net Debts/EBITDA (x) (x)

  25. Slide 25: 4. Business Outlook

    4. Business Outlook

  26. Slide 26: 2019 Business Outlook

    2019 Business Outlook 1 Prospect for the wind power business China will continuously implement green development principles, strengthen the building of an ecologically- civilized society and persistently promote green energy consumption. The new energy industry will be in the direction of higher eff

  27. Slide 27: 2019 Business Outlook (Con’t)

    2019 Business Outlook （Con’t) 2 Prospects for the natural gas business At present, the natural gas industry is under rapid development. With the gradual production of cross country pipelines, the probability of resource supply has turned from tight to loose. Based on the actual supply of resources,

  28. Slide 28: 2019 Business Outlook (Con’t)

    2019 Business Outlook （Con’t) 3 Innovative financing means In 2019, the Group will continue to put more efforts on the widening of channels for financing and innovative financing means and obtain greater amount of capital at low cost for projects from various aspects. • Continuously deepening commun

  29. Slide 29: 5. Q&A

    5. Q&A

China Suntien Green Energy — FY2018 Earnings Presentation on 6ix