Slide 1: 9M 2022 Results
10 Nov 2022 9M 2022 Results Michael Müller, CFO Thomas Denny, Head of Investor Relations 10 Nov 2022 9M results 2022
Slide 2: Disclaimer
Disclaimer This document contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management, and are based on information currently available to the management. Forward-looking statements shall not be construed as a promi
Slide 3: Strong performance and step up in Growing Green strategy
Strong performance and step up in Growing Green strategy Strong performance in the core business after 9M 2022 leading to an EBITDA in the core business of €3.5bn and €4.1bn for the RWE Group Green transformation accelerated via agreement with federal and state governments to exit lignite power gene
Slide 4: Green transformation accelerated with 2030 coal exit agreement
Green transformation accelerated with 2030 coal exit agreement: Basis for 1.5°C compliant pathway set Agreement reached with federal and state RWE’s government to exit lignite power generation in 2030 in Germany 2030-green Flexible Accelerated closure creates the base for emission portfolio1 Generat
Slide 5: Short-term energy security enhanced by extending existing generation capacity until winter 23/24
Short-term energy security enhanced by extending existing generation capacity until winter 23/24 1.3 GW of nuclear capacity: Closure date shifted to Apr 2023 from Dec 2022 1.2 GW Nuclear of lignite capacity: Closure date shifted to Mar 2024 from Dec 20221 Lignite Capacity currently in operation 0.9
Slide 6: Contribution to security of supply through investments in LNG import infrastructure
Contribution to security of supply through investments in LNG import infrastructure FSRU Brunsbüttel (RWE) Capacity: 7.5 bcm1 Expected start of operations: End 2022/Jan 2023 Land-based LNG terminal Brunsbüttel (JV incl. RWE) Capacity: 8.0 bcm Expected start of operations: End of 2026 FSRU Lubmin (RW
Slide 7: Step up of RWE's footprint in US renewables market with CEB acquisition
Step up of RWE’s footprint in attractive US renewables market with acquisition of >3 GW Con Edison Clean Energy Businesses With acquisition RWE achieved leading position in Leading US highly attractive US renewables market market position Strong growth outlook for US renewables from from combined ma
Slide 8: Delivery of green growth fast tracked with capacity additions of 9.4 GW underway
Delivery of green growth fast tracked with capacity additions of 9.4 GW underway Development of our green generation portfolio, GW pro rata +9.4 37.4 1.9 0.7 <0.1 3.9 Includes 1.4 GW from Magnum 1.1 acquisition 28.0 1.7 26.9 1.3 0.1 Includes 3.1 GW2 from CEB acquisition 31 Dec Capacity Capacity 30 3
Slide 9: Strong performance in the core business while previous year marked by negative one-off
Strong performance in the core business while previous year was marked by a negative one-off Core adj. EBITDA 9M 2022 vs. 9M 2021, € million Offshore Wind earnings up on the back of +108% capacity additions including Rampion consolidation effect, better wind conditions and 3,494 higher power prices
Slide 10: Strong adj. net income on the back of the successful operational performance
Strong adj. net income on the back of the successful operational performance Adj. net income, € million Adj. EBITDA driven by strong operational performance 9M 2021 9M 2022 Adj. EBITDA Adj. depreciation increases in line with 2,397 4,127 9M 2022 growth investments -1,058 Adj. depreciation -1,162 Adj
Slide 11: Adj. operating cash flow marked by high operating working capital
Adj. operating cash flow marked by high operating working capital from injections of gas into storage facilities Reconciliation to adj. operating cash flow for 9M 2022 Changes in provisions/(Non-) Cash items includes restructuring and legacy provisions € million Changes in operating working capital:
Slide 12: Net debt increased to €0.4bn mainly due to green growth investments
Net debt increased to €0.4bn mainly due to green growth investments Development of net debt in 9M 2022, € billion (+ net debt / - net assets) 0.5 0.8 -1.6 0.4 -0.4 3.1 -2.1 Net debt Adj. operating Net cash Dividends Other changes in Changes in Net debt 31 Dec 21 cash flow investments net financial d
Slide 13: Outlook for FY 2022 reiterated
Outlook for FY 2022 reiterated Group outlook FY 2022, € million Divisional outlook FY 2022– adj. EBITDA, € million Outlook Core adj. EBITDA (Feb 2022) 4,300 – 4,800 Offshore Wind 1,350 – 1,600 Adj. EBITDA RWE Group 5,000 – 5,500 Onshore Wind/Solar 900 – 1,100 Depreciation ~-1,600 Hydro/Biomass/Gas 1
Slide 14: Appendix
Appendix 10 Nov 2022 9M results 2022
Slide 15: Offshore Wind: Earnings up due to capacity additions as well as wind and market conditions
Core Offshore Wind: Earnings up due to capacity additions as well as wind and market conditions Key financials 9M 2022 – Offshore Wind Adj. EBITDA 9M 2022 vs. 9M 2021 Higher earnings from capacity additions to portfolio, including Rampion full consolidation2 € million 9M 2022 9M 2021 change Higher e
Slide 16: Onshore Wind/Solar: Good performance and lack of negative one-offs
Core Onshore Wind/Solar: Good performance and lack of negative one-offs Key financials 9M 2022 – Onshore Wind/Solar Adj. EBITDA 9M 2022 vs. 9M 2021 No one-off effects (+ Texas cold snap | - book gains from farm-down) Higher power prices for unhedged volumes € million 9M 2022 9M 2021 change Increase
Slide 17: Hydro/Biomass/Gas: Strong earnings development in volatile markets
Core Hydro/Biomass/Gas: Strong earnings development in volatile markets Key financials 9M 2022 – Hydro/Biomass/Gas Adj. EBITDA 9M 2022 vs. 9M 2021 Higher generation margins, despite lower income from GB capacity payments Higher earnings from strong short-term asset optimisation € million 9M 2022 9M
Slide 18: Supply & Trading: Outstanding performance across S&T business
Core Supply & Trading: Outstanding performance across S&T business Key financials 9M 2022 – Supply & Trading Adj. EBITDA 9M 2022 vs. 9M 2021 Strong earnings across commodities and regions € million 9M 2022 9M 2021 change Outlook 2022 Significantly >€350m Adj. EBITDA Outlook 2022 vs. FY 2021 Adj. EBI
Slide 19: Coal/Nuclear: Lower generation margins mainly related to capacity closures
Coal/Nuclear: Lower generation margins mainly related to capacity closures Key financials 9M 2022 – Coal/Nuclear Adj. EBITDA 9M 2022 vs. 9M 2021 Lower generation margins mainly due to capacity closures partly compensated by related cost savings, higher utilisation of plants and short-term asset opti
Slide 20: Economic net debt
Economic net debt Net assets / net debt (€ million) 30 Sep 2022 31 Dec 2021 +/- Net debt definition Cash and cash equivalents 3,307 5,825 -2,518 • Net debt does not Marketable securities 4,531 8,347 -3,816 contain mining provisions, which Other financial assets 25,000 12,403 12,597 essentially cover
Slide 21: Your contacts in Investor Relations
Your contacts in Investor Relations Important Links Financial Calendar • Annual and interim reports & statements • 21 March 2023 ADR programme available Annual report for fiscal 2022 • Investor and analyst conferences • 04 May 2023 Further information on our homepage Annual General Meeting • IR pres