Redes Energeticas Nacionais Sa · EURONEXT:RENE
Redes Energeticas Nacionais Sa — REN - Redes Energéticas Nacionais, SGPS — FY2024 Earnings Presentation
29 slides from Redes Energeticas Nacionais Sa's earnings presentation, Mar 6, 2025
Slide 1: 06th March 2025 Unaudited Information
06TH MARCH 2025 UNAUDITED INFORMATION
Slide 2: 06TH MARCH 2025 UNAUDITED INFORMATION
06TH MARCH 2025 UNAUDITED INFORMATION 06TH MARCH 2025 UNAUDITED INFORMATION 2
Slide 3: Highlights of the Period
OGY REND qa © 3 a > LL ie) > O the Period
Slide 4: Key financial highlights 12M24
I €506.1M €152.5M €2,388.5M €368.4M -1.5% versus 12M23 +2.2% versus 12M23 -1.4% versus 12M23 +22.2% versus 12M23 With expected reduction in Despite lower financial results Net debt (excluding tariff Positive impacts from the domestic performance (-€2.6M (-€20.7M) deviations) recorded a 1.4%
Slide 5: Energy and sustainability highlights
I 70.2% Renewable Energy sources The level of energy transmission Reduction of 57% of scope 1 and 2 EC “Pact for Engagement” reached 70.2% of total supply losses in electricity remained in (+9.6pp versus 2023) line with 2023 (versus 2019) and 28% in scope 3 Application for the CEF-E 2024 e
Slide 6: Business performance
Business performance an
Slide 7: Operational indicators: electricity and gas
II 51.4TWh 2.4% 9,661km 2023: 50.7TWh 0.7TWh 2023: 2.3% 0.1 pp 2023: 9,409km 252km (1.3%) (2.7%) Electricity 70.2% 0.01min 98.3% 9.6 pp -0.38min -0.1 pp 2023: 60.6% 2023: 0.39min * 2023: 98.4% 40.5TWh 100.0% 1,375km 0km -8.5TWh 0.0 pp 2023: 49.0TWh 2023: 100.0% 2023: 1,375km (0.0%) Gas Transportatio
Slide 8: EBITDA, net profit, CAPEX and net debt
II EBITDA -€7.9M (-1.5%) Financial Results -€20.7M (-50.9%) Net Profit +€3.3M (+2.2%) €506.1M €514.0M €-61.2M €-40.6M €152.5M €149.2M CAPEX +€66.9M (+22.2%) Average RAB1 -€38.3M (-1.1%) Net Debt2 -€227.7M (-8.3%) €368.4M €301.5M €3,509.5M €3,547.8M €2,521.0M €2,748.7M 1. Refers only to Domestic RAB
Slide 9: EBITDA evolution breakdown and contribution by segment
II EBITDA evolution breakdown - €M EBITDA contribution by business segment4 - % €-7.9M (-1.5%) 514.0 17.9 506.1 4.1% -3.0 -5.3 -17.5 65.7% 2024 9.0% 21.1% 5.0% 61.6% 2023 9.2% EBITDA Δ Assets and Δ Other Δ Opex core Δ International EBITDA 2023 opex revenues2 segment3 2024 remuneration1 24.2% 1. Incl
Slide 10: Domestic business: bond yields and base return on RAB
II DOMESTIC BUSINESS Portuguese 10Y Treasury Bond Yields * - % Base Return on RAB (RoR) ** - % 4.0 10Y Bond Yield 3.5 Linear (10Y Bond Yield) 3.0 Gas Gas Electricity Transportation Distribution 2.5 5.7 5.9 2.0 5.6 5.3 5.2 5.2 1.5 AVERAGE YIELD - % 1.0 3.2% 3.0% 0.5 2023 2024 0.0 2023 2024 2023 2024
Slide 11: Domestic business key highlights: transfers to RAB and CAPEX
II DOMESTIC BUSINESS KEY HIGHLIGHTS Transfers to RAB (domestic) - €M Electricity1 Gas Transportation2 Gas Distribution +€73.5M (+33.0%) Electricity Gas Transportation Gas Distribution 296.1 222.6 23.8 19.9 Higher electricity CAPEX mainly due Sines Terminal: replacement and Investments for networ
Slide 12: Return on RAB evolution breakdown
II DOMESTIC BUSINESS Return on RAB evolution breakdown - €M Electricity Gas Transportation Gas Distribution Return on 4.62 47.33 29.00 RAB 2023 RoR evolution -0.04 -3.83 -1.28 +€0.18M -€5.58M -€1.04M (+4.0%) (-11.8%) (-3.6%) Asset base 0.22 -1.75 0.24 evolution Return on 4.80 41.75 27.96 RAB 2024 Re
Slide 13: Core OPEX evolution
II DOMESTIC BUSINESS KEY HIGHLIGHTS Core OPEX1 evolution - €M +€3.0M (+2.4%) Personnel Costs General increases and headcount increase (+3% 4.2 growth YoY, achieving 758 people in December 2024), 126.9 driven by operational areas growth -1.2 124.0 Core External Costs Maintenance costs decrease 0.
Slide 14: International business: Transemel and Electrogas
II Transemel (100%) INTERNATIONAL BUSINESS EBITDA decreased YoY mainly driven by one-off revenues correction in 2023 Contribution to EBITDA 2024 - €M Revenues EBITDA €16.8M -€3.9M €11.0M -€4.5M (-18.7%) (-29.2%) International 11.0 Transemel 2023: €20.7M 2023: €15.5M (100%) 22.4 Electrogas (100%)
Slide 15: Depreciation, financial results and taxes
II Depreciation & Amortization Financial results Taxes €254.7M -€61.2M €37.7M +€1.5M (+0.6%) -€20.7M (-50.9%) -€33.3M (-46.9%) 2023: €253.2M 2023: -€40.6M 2023: €71.0M Increase of €1.5M versus 2023, Decrease in Financial results (-€20.7M) Decrease in Income tax (-€27.6M to along with an increa
Slide 16: Net profit evolution breakdown
II Net profit evolution breakdown - €M +€3.3M (2.2%) Decrease in EBITDA reflecting the 27.6 152.5 decrease in contribution of both 149.2 domestic (-€2.6M) and international businesses (-€5.3M) -7.9 -1.5 5.7 Negative effect of €20.7M from Financial -20.7 Results reflecting the higher cost of debt
Slide 17: Net debt evolution, cost of debt and maturity
II Net Debt evolution - €M Net Debt Cost Adjusted Gross Debt Maturity - €M (w/o tariff of Debt deviations) Net Debt Gross debt 882 872 Average debt Dec 2023 2,748.7 2,421.2 2.5% adjusted maturity 2,5461 324 359 5.2years3 Operating 109 -433.7 (including liquidity Cash Flow available) 2025 2026 2027 2
Slide 18: Strategic Plan Execution & Outlook
REND an Strategic Plan Execution & Outlook
Slide 19: Strategic guidelines 2024-27 and key achievements
III STRATEGIC Reinforce our Enable the energy Deliver sustainable GUIDELINES sustainability 2024-27 transition profitable growth commitments Emissions Investment Credit Metrics Reduction of 57% of scope 1 and 2 Increase in annual CAPEX by c. 51% Maintenance of credit emissions (vs. 2019) and r
Slide 20: 2024 actuals vs 2024-27 business plan targets
III KEY HIGHLIGHTS Comparison between 2024 Actuals and 2024-27 Business Plan Targets 506 500 - 540 EBITDA was on target, primarily driven by the strong performance of the domestic electricity business. As €M expected, the new gas regulatory model impacted the domestic gas transmission and distributi
Slide 21: Shaping a Sustainable Future
REND () Shaping a Sustainable Future an
Slide 22: Emissions reduction and ESG targets
IV 1 -60% Scope 1 and 2 -30% Scope 3 emissions reduction emissions reduction Carbon neutral target by 2030 vs target by 2030 vs (scope 1 and 2) by 2019 2021 2040 -22% in 2024 -9% in 2024 On track -57% vs 2019 -28% vs 2021 > 1/3 of women in 100% employees 3M€ investment in 1st line management trained
Slide 23: ESG indicators
IV INDICATOR UNIT 2024 2024 2023 YoY Energy consumption MWh 1,280,746 1,201,527 6.6% Energy consumption (excluding electricity transmission losses and self-consumption) MWh 173,018 186,265 -7.1% Greenhouse gas emissions (scope 1 and 2) 1 tCO2eq 112,167 142,858 -21.5% Greenhouse gas emissions (scope
Slide 24: ESG ratings
IV D-A 0-100 100-0 CCC-AAA D-A A 63 15.1 AAA B Business strategy, Transparency and Included in 2025 ESG Top- Biodiversity and land use, Prime Status Emissions reductions reporting, Labor practices, Rated Companies List Carbon emissions, and initiatives, Governance, Climate strategy, Governance Risk
Slide 25: REND
an REND
Slide 26: Final remarks
V €506.1M €368.4M €152.5M €2,388.5M -1.5% versus 2023 +22.2% versus 2023 +2.2% versus 2023 -1.4% versus 2023 Lower operational CAPEX and Transfers to Positive tax impacts and Net Debt reduction The Board of Directors performance in both RAB acceleration in gains related with CESE, despite
Slide 27: Disclaimer
06TH MARCH 2025 UNAUDITED INFORMATION This document has been prepared by REN – Redes Energéticas Nacionais, SGPS, S.A (the "Company") and its purpose is merely informative. As such, this document may be amended and supplemented at the discretion of presentation, and it should be read as presentation
Slide 28: Investor relations contacts
06TH MARCH 2025 UNAUDITED INFORMATION Madalena Garrido – Head of IR Mariana Asseiceiro Telma Mendes Avenida Estados Unidos da América, 55, 1749-061, Lisboa - Portugal ir@ren.pt 28
Slide 29: Address and contact details
Avenida Estados Unidos da América, 55, 1749-061, Lisboa Telefone: +351 210 013 ir@ren.pt
REN - Redes Energéticas Nacionais, SGPS — FY2024 Earnings Presentation on 6ix