Slide 1: 2020 Full Year Results
2020 Full Year Results 10 March 2021
Slide 2: Advancing Despite Adversity through #PositiveEnergy
Advancing Despite Adversity through #PositiveEnergy
Slide 3: FY2020 Beneficial EBITDA Quarterly Breakdown
Quarterly Breakdown FY2020 Beneficial EBITDA in PHP millions +19% vs 3Q2020 1% vs FY2019 *+39% vs 4Q2019 +5% Flat vs LY: -9% ● +10% higher availability ● +2% other income ● -7% lower demand due to COVID-19 ● -3% lower BCQ rates ● -1% lower water inflow 3
Slide 4: FY2020 Core Income
FY2020 Core Income EBITDA Net Interest Depcn. & Amort. Tax & Others Core Income Expense Php mn FY2019 FY2020 Change EBITDA 43,032 43452, 1% Less: Net Interest Expense 12,950 : 69 Depcn. & Amort. 10,051 Tax & Others 3,410 Core Income 16,621 Qo AboitizPower EPS 2.26 1.70 4
Slide 5: FY2020 Net Income
FY2020 Net Income Qo AboitizPower Php mn Core Income Net Income EPS Core Income Net Income FY2019 FY2020 Shanes 16,621 | 12,532 5% 17,323 oa a 272 2.35
Slide 6: Balance Sheet Highlights
Balance Sheet Highlights *Total Interest Bearing Debt / Total Equity 6
Slide 7: Operating Highlights: Capacity Sales
Operating Highlights: Capacity Sales Capacity Sales in MW 7% 7
Slide 8: Operating Highlights: Revenue and Energy Sold
Operating Highlights: Revenue and Energy Sold Revenue Energy Sold in PHP millions in GWh -1% -12% 8
Slide 9: Operating Highlights: Gross Margin
Operating Highlights: Gross Margin Quarterly Breakdown in PHP millions in PHP millions -12% +15% -23% +3% -21% in GWh -1% -3% in GWh 23% -2% 9
Slide 10: Operating Highlights: Selling Prices (P/kWh)
Operating Highlights: Selling Prices (P/kWh) -8% -48% Ave NEWC $83.78/MT in FY2019 vs $59.80/MT in FY2020 10
Slide 11: Operating Highlights: Availability - FY2020
Operating Highlights: Availability - FY2020 Higher than 82% in FY 2019 NERC – North American Electric Reliability Corporation 11
Slide 12: Operating Highlights: WESM
Operating Highlights: WESM Q2 Ave LWAP P7.23 (P/kWh) FY2019 Q4 Ave LWAP Ave P5.01 (P/kWh) LWAP Q1 Ave LWAP P4.43 (P/kWh) P4.95 Q3 Ave LWAP (P/kWh) P3.15 (P/kWh) Q2 Ave LWAP P2.17 (P/kWh) FY2020 Ave Q1 Ave LWAP LWAP P2.94 (P/kWh) P2.40 Q3 Ave LWAP Q4 Ave LWAP P2.54 (P/kWh) P1.93 (P/kWh) (P/kWh) 12
Slide 13: Luzon and Visayas Average Weekly Peak Demand
LUZON AND VISAYAS AVERAGE WEEKLY PEAK DEMAND Dec W4 0% Apr W1 -26% 2020 Ave. LuzVis Weekly Peak Demand 2019 Ave. LuzVis Weekly Peak Demand % Δ vs 2019 Luzon Weekly Peak Demand Visayas Weekly Peak Demand Beginning of ECQ Holy Week Independence Day Source: IEMOP Market Reports 13 13
Slide 14: Operating Highlights: Water Level
Operating Highlights: Water Level 14
Slide 15: Operating Highlights: Distribution
Operating Highlights: Distribution -8% Beneficial Power Sales in GWh Customer Type Peak Demand in GWh in MW -8% -15% 11% 15
Slide 16: Operating Highlights: Distribution
Operating Highlights: Distribution Gross Margin / kWh Feeder Loss 16
Slide 17: Project Update
Project Update Grid Project Capacity (Net) % Ownership Attributable Net Estimated Sellable Capacity Commercial Operation Date Luzon Dinginin Unit 1 (Coal – GNPD) 668 MW 70% 468 MW Q2 2021 Dinginin Unit 2 (Coal – GNPD) 668 MW 70% 468 MW Q4 2021 SNAP Magat Floating Solar 150 MW 50% 75 MW Ongoing devel
Slide 18: GNPower Dinginin
GNPower Dinginin 2 x 668 MW of Coal Power Plant View From Jetty 18 Unit 1 Synchronization Unit 1 Steam Turbine Generator
Slide 19: TMI Hybrid Battery Energy Storage System
TMI Hybrid Battery Energy Storage System (BESS) 49 MW 19
Slide 20: SNAP Magat Battery Energy Storage System (BESS) 20 MW
SNAP Magat Battery Energy Storage System (BESS) 20 MW 20
Slide 21: Floating Solar
Floating Solar 150 MW of Solar of Power 21
Slide 22: MakBan and Tiwi Capacity Optimization Projects
First Make-UP Well in Tiwi Make-UP Well MakBan Drilling Rig in Operation Drilling Sites in MakBan MakBan and Tiwi Capacity Optimization Projects 64 MW 22
Slide 23: Southline Transmission Line Interconnection
Includes 100% of Subsidiaries and Affiliates 1 - Budgeted Figure 2 - Actual Figure Southline Transmission Line Interconnection 23
Slide 24: Capital expenditures (with partners)
Capital expenditures (with partners) Includes 100% of Subsidiaries and Affiliates 1 - Budgeted Figure 2 - Actual Figure 24
Slide 25: Dividend Payment
Dividend Payment Payout Ratio: 1/2 of previous year’s consolidated net income 2021 Dividend Yield: Computed based on March 05, 2021 closing price 25
Slide 26: AP ESG Assessment Ratings
AP ESG Assessment Ratings Score Reference 2018 2019 2020 0 (lowest) - 100 (highest) SAM (S&P Global) The higher the better. 10 23 40 ↑ 1 (lowest) - 5 (highest) FTSE Russell The higher the better. -- 2.6 2.5 ↓ 0 (negligible) - 40+ (severe) Sustainalytics The lower the better. -- 37.3 34.1 ↑ CCC (lowe
Slide 27: A Better Future with Cleanergy
A Better Future with Cleanergy
Slide 28: AboitizPower
20 AboitizPower