S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Shareholder Meeting (August 2023)
23 slides from S.C. Fondul Proprietatea SA's shareholder meeting presentation, Aug 18, 2023
Slide 1: Fondul Proprietatea – Ordinary General Shareholders Meeting
Fondul Proprietatea – Ordinary General Shareholders Meeting 18 August 2023
Slide 2: Fund Information
Fund Information Is FONDUL ey FRANKLIN » TEMPLETON eel
Slide 3: Key Facts
Key Facts Adjusted Share Price (RON) vs. Fund Details Discount/Premium (%) 2.10 5% 31 July 2023 NAV RON USD Total NAV 12.76 bn 2.85 bn 1.85 -3% NAV/Share 2.3784 0.5320 1.60 -12% Key trading figures as at 17 August 2023 1.35 -21% Price/Share 1.9160 0.4220 1.10 -29% Price/GDR 98.06 21.60 Market Capita
Slide 4: Shareholder structure
Shareholder structure Evolution (% Held)1 2% 2% 3% 3% 6% 3% 3% 10% 10% 8% 7% 10% 9% 10% 6% 4% 3% 12% 12% 14% 14% 4% 3% 13% 13% 14% 10% 3% 18% 3% 3% 3% 5% 6% 3% 3% 3% 3% 14% 3% 3% 3% 3% 14% 3% 17% 15% 12% 25% 20% 12% 10% 11% 22% 15% 14% 14% 11% 12% 11% 16% 18% 17% 16% 14% 6% 43% 54% 55% 37% 28% 22% 1
Slide 5: NAV, Share price and GDR Performance
NAV, Share price and GDR Performance Cumulative Performance1 Since Performance 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 YTD2 Inception2 NAV (0.5)% 8.9% 13.3% 1.4% (0.6)% 7.3% 13.1% 19.9% 31.2% 2.2% 47.8% 19.1% (5.7)% 301.2% (RON) Share Price (30.3)% 38.3% 61.3% 14.5% (4.1)% 4.9% 2
Slide 6: Portfolio
Portfolio — 7 = ie %
Slide 7: Portfolio Structure
Portfolio Structure Listed vs Unlisted By Sector (% of NAV as at 31 July 2023)1 (% of NAV as at 31 July 2023)1 20.9% 9.4% 8.9% 2.6% 1.2% 0.9% 0.2% 0.1% 77.9% 77.9% Unlisted Listed Net Cash & receivables Infrastructure Aluminium Power & Gas Utilities: Transport, Postal Services Distribution & Supply
Slide 8: Largest Holdings by NAV
Largest Holdings by NAV NAV as at % in NAV Majority % FP 31 July 2023 as at Portfolio Company Status Shareholder Stake1 (USD mn) 31 July 2023 Bucharest Airports Unlisted Romanian State 20.0% 185.2 6.5% Engie Romania Unlisted Engie 12.0% 109.7 3.8% Constanta Port Unlisted Romanian State 20.0% 70.0 2.
Slide 9: Largest Holdings by NAV – Net result evolution
Largest Holdings by NAV – Net result evolution Net Profit (RON mn) Top Holdings1 2017 2018 2019 2020 2021 2022 Bucharest Airports 290.7 371.8 359.6 (146.4) 34.0 304.0 Engie Romania 342.6 428.7 385.2 492.8 69.9 851.9 Constanta Port 79.7 75.7 108.2 130.3 130.5 114.5 Salrom 81.1 76.4 77.0 11.5 60.2 120
Slide 10: Hidroelectrica IPO – a milestone transaction in Europe
Hidroelectrica IPO – a milestone transaction in Europe Transaction Details Key highlights Name of Company: Hidroelectrica S.A. Country: Romania • Backed by strong local and international long-only demand from Sector: 167 investors, order book was multiple times oversubscribed Utilities - Renewables
Slide 11: Hidroelectrica IPO – a milestone transaction in Europe
Hidroelectrica IPO – a milestone transaction in Europe Third largest IPO in history on a CEE Largest IPO in Romanian history Largest IPO in Europe for 2023YTD Exchange Pricing Deal Size Pricing Deal Size Pricing Deal Size Company Industry Company Industry Country Company Industry Country Date (EURmn
Slide 12: Bucharest Airports – Update
Bucharest Airports – Update Financials 2016 2017 2018 2019 2020 2021 2022 % y.o.y. Operating revenues (mn RON) 754.7 890.9 992.6 1,066.6 405.6 578.0 999.6 72.9% Operating result (mn RON) 263.6 337.6 445.9 399.0 (175.3) 40.8 344.7 744.9% Net Income / Loss (mn RON) 224.7 290.7 371.8 359.6 (146.4) 34.0
Slide 13: Constanta Ports – Update
Constanta Ports – Update Financial performance 2016 2017 2018 2019 2020 2021 20221 % y.o.y. Operating revenues (RON mn) 314.0 330.5 345.2 369.0 398.8 418.9 479.5 14.5% Operating profit (RON mn) 54.8 93.8 95.8 117.0 145.9 140.6 131.5 (6.5)% Net Income (RON mn) 36.8 79.7 75.7 108.2 130.3 130.5 114.5 (
Slide 14: Salrom – Update
Salrom – Update Financial performance 2016 2017 2018 2019 2020 2021 20221 % y.o.y. Operating revenues (RON mn) 312.4 394.1 436.9 469.2 300.2 374.5 495.3 32.3% Operating profit (RON mn) 36.3 107.3 93.5 84.6 15.8 70.1 134.4 91.7% Net Income (RON mn) 27.4 81.1 76.4 77.0 11.5 60.2 120.7 100.5% • Corpora
Slide 15: ENEL companies – Update
ENEL companies – Update E-Distributie Muntenia E-Distributie Banat E-Distributie Dobrogea Sector Power & Gas Utilities: distribution Type Unlisted Weight in NAV1 1.8% 1.7% 1.3% RON 223.5 mn RON 212.9 mn RON 170.4 mn FP NAV Value1 (USD 50.0 mn) (USD 47.6 mn) (USD 38.1 mn) Fondul Proprietatea’s Holdin
Slide 16: Corporate Actions
Corporate Actions FONDUL @. FRANKLIN -° TEMPLETON
Slide 17: Distributions to Shareholders
Distributions to Shareholders Annual Distributions to Shareholders (RON mn) 1,124.3 552.7 507.7 1,499.0 1,778.5 923.6 1,190.8 1,743.7 1,870.6 1,081.3 1,483.0 1,519.9 1,931.5 949.3 29% 2,000 25.4% 832.5 21.9% 711.5 23% 1,500 600.0 18.3% 18.3% 328.1 583.1 1,121.5 14.8% 17.0% 15.5% 17% 236.6 812.6 1,00
Slide 18: Special dividend distribution
Special dividend distribution Main dates related to the proposed gross cash distribution 7 September 2023 as the Ex – Date 8 September 2023 as the Registration Date 29 September 2023 as the Payment Date • The Extraordinary General Shareholders’ Meeting Resolution no. 3 made on 15 November 2022 appro
Slide 19: Cash distributions to shareholders
Cash distributions to shareholders Gross Cash distribution Net Cash distribution Distribution Financial year Paid in (RON/share) (RON/share) Dividend 2008-2009 (aggregate) 2010 0.08160 0.06854 Dividend 2010 2011 0.03141 0.02638 Dividend 2011 2012 0.03854 0.03237 Dividend 2012 2013 0.04089 0.03435 Re
Slide 20: Buy-back programs
Buy – back programs No. of shares (to be) repurchased Average share / % of the Fund’s price Cancellation Program Period Status issued share capital (RON / share) Broker of shares1 The cancellation of Jan – Auerbach Grayson, shares was approved 13th Finalized 549.02 mn / 8.83% 2.10782 Dec 2022 Swiss
Slide 21: Total dividend income from portfolio companies
Total dividend income from portfolio companies FP Net Dividend RON 2014 2015 2016 2017 2018 2019 2020 2021 2022 202312 Total Dividends from Listed Companies (mn) 538.6 251.5 36.0 148.1 199.6 223.0 200.2 117.0 127.7 0.9 Total Dividends from Unlisted Companies (mn) 143.5 315.9 315.2 404.5 366.9 710.0
Slide 22: Thank You
Fondul Proprietatea Premium Point Buzesti Street 76-80, 1st District Bucharest 011017 www.fondulproprietatea.ro Thank You
Slide 23: Questions & Answers
Questions & Answers 22
Fondul Proprietatea — Shareholder Meeting (August 2023) on 6ix