El5-ener · RUS:ELFV

El5-ener — Enel Russia — 9M 2014 Earnings Presentation

12 slides from El5-ener's earnings presentation, Oct 30, 2014

  1. Slide 1: Enel Russia 9M 2014 Results

    Enel Russia 9M 2014 Results Moscow, 30 October 2014

  2. Slide 2: Agenda

    Enel Russia 9M 2014 Results Agenda • Financial highlights • Net power output and sales • Unit margin on sales • CCGTs vs. conventional gas units • Revenues and costs • EBITDA evolution • From EBITDA to net income • Net debt evolution • Focus on liquidity 2

  3. Slide 3: Financial highlights (M RUR)

    Enel Russia 9M 2014 Results Financial highlights (M RUR)(1) 9M13 9M14 % Revenues 50,700 54,685 +7.9 EBITDA 12,288 13,449 +9.4 - EBITDA margin (%) 24.2 24.6 +0.4 Net income 3,491 5,082 +45.6 (2) Net debt 19,322 19,465 +0.7 EBITDA/Net financial expenses (3) 7.1 7.9 +0.8 (4) Net debt/EBITDA 1.6 1.4 -0.

  4. Slide 4: Net power output and sales

    Enel Russia 9M 2014 Results Net power output and sales Net Output (TWh) Power Sales (TWh) -0.3% +0.2% 31.3 31.2 35.6 35.6 12% 12% CCGT Free 47% 44% Coal 83% 84% Regulated Gas 41% 44% 17% 16% 9M13 9M14 9M13 9M14 Plant availability Utilization on total capacity 82% 75% 52% 52% 9M13 9M14 9M13 9M14  Re

  5. Slide 5: Unit margin on sales (RUR/MWh)

    Enel Russia 9M 2014 Results Unit margin on sales (RUR/MWh)1 Unit Price +9.3% 1,008 1,102 Unit Margin on Sales +21.5% 9M13 9M14 229 188 Unit Cost of Sales2 +6.5% 9M13 9M14 820 873 9M13 9M14 Growing unit margin thanks to fuel cost dynamics 1 Excluding capacity payment 2 Including energy purchases 5

  6. Slide 6: CCGTs vs. conventional gas units

    Enel Russia 9M 2014 Results CCGTs vs. conventional gas units CCGT net output 9M14 Spreads (RUR/MWh) (TWh) Conventional gas units1 3.7 3.6 74 36 9M13 9M14 9M13 9M14 9M14 utilization on total capacity CCGTs2 68% 44% 475 377 Conventional CCGTs gas units 9M13 9M14  YoY decline in CCGT output due to out

  7. Slide 7: Revenues and costs (B RUR)

    Enel Russia 9M 2014 Results Revenues and costs (B RUR) Variable costs Operating revenue breakdown 33.2 31.0 4.2 4.8 54.7 50.7 2.8 Fuel 28.4 2.8 26.8 Purchased power 12.7 12.2 Power 1 9M13 2 9M14 Capacity 39.2 Fixed costs Heat and other 35.7 7.8 8.5 0.8 0.9 O&M manageable 3.0 3.1 O&M not manageable P

  8. Slide 8: EBITDA evolution (M RUR)

    Enel Russia 9M 2014 Results EBITDA evolution (M RUR) +9.4% +1,874 -686 -27 13,449 12,288 Fixed costs Other items Generation margin 9M13 9M14 EBITDA growth supported by generation margin 8

  9. Slide 9: From EBITDA to net income (M RUR)

    Enel Russia 9M 2014 Results From EBITDA to net income (M RUR) 9M13 9M14 % EBITDA 12,288 13,449 +9.4 Amortisation, depreciation and impairment (5,664) (5,037) -11.1 EBIT 6,624 8,412 +27.0 Net financial charges (2,371) (2,010) -15.2 EBT 4,253 6,402 +50.5 Income tax (762) (1,320) +73.1 Net income 3,491

  10. Slide 10: Net debt evolution

    Enel Russia 9M 2014 Results Net debt evolution Net Debt (M RUR) Hedged Debt on Total Debt +143 9% Unhedged 100% Hedged 91% 19,322 -10,341 +1,893 +499 19,465 +8,092 Net financial FX 31Dec13 30Sep14 charges Cash flow from Capex Average Cost of Debt operations1 9M 2013 9M 2014 Cost Weight Cost Weight R

  11. Slide 11: Focus on Liquidity

    Enel Russia 9M 2014 Results Focus on Liquidity Available credit facilities (B RUR)1 Utilized amount (%) 94.2 93.1 30% 25% 86% 83% Long-term Short-term 14% 17% 31Dec13 30Sep14 31Dec13 30Sep14  Ample credit facilities for any potential future needs 1 Not adjusted for FX differences on EUR-nominated f

  12. Slide 12: Contacts

    Enel Russia 9M 2014 Results Contacts • Alexey Leonov (Head of IR) +7 495 539 31 31 ext. 7631 alexey.leonov@enel.com Visit our website at: www.enel.ru (Investor Relations) 12

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