S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Q3 2022 Earnings Presentation
24 slides from S.C. Fondul Proprietatea SA's earnings presentation, Nov 15, 2022
Slide 1: Fondul Proprietatea – Q3 2022 Results Conference Call
Fondul Proprietatea – Q3 2022 Results Conference Call 15 November 2022
Slide 2: Fund Information
Fund Information Is FONDUL ey FRANKLIN » TEMPLETON eel
Slide 3: Key Facts
Key Facts Fund Details Adjusted Share Price (RON) vs. Discount / Premium (%) 31 October 2022 NAV RON USD 6% 2.08 1.90 0% Total NAV 15.48 bn 3.13 bn 1.73 -6% NAV / Share 2.7052 0.5467 1.55 -13% Key trading figures as at 14 November 2022 1.38 -19% Price / Share 1.8860 0.3963 -26% 1.20 Price / GDR 93.2
Slide 4: Shareholder structure
Shareholder structure Evolution (% Held)1 2% 2% 3% 3% 6% 3% 3% 10% 10% 8% 7% 10% 8% 10% 6% 4% 3% 12% 12% 14% 14% 4% 3% 10% 3% 18% 3% 3% 3% 5% 6% 3% 3% 3% 3% 3% 14% 20% 3% 17% 15% 14% 12% 25% 22% 12% 10% 11% 15% 14% 14% 17% 6% 43% 54% 16% 18% 16% 14% 14% 55% 28% 22% 18% 17% 16% 53% 37% 37% 31% 34% 35
Slide 5: NAV, Share price and GDR Performance
NAV, Share price and GDR Performance Since Q3 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% 24.8% 25.4% 347.9% (RON) Share Cumulative Price (30.3)% 38.3% 61.3% 14.5% (4.1)% 4.9% 21.5% 9.9% 4
Slide 6: Attribution to NAV Performance for Q3 2022
Attribution to NAV Performance for Q3 2022 % Change in Weight in total Change in NAV Change in NAV Company Status share price / NAV1 performance per share (RON) NAV per share Hidroelectrica Unlisted 78.5% (2.72)% (0.0757) (3.5)% Bottom OMV Petrom2 Listed 4.5% (0.26)% (0.0074) (14.3)% Performers E-Di
Slide 7: Attribution to NAV Performance for 9mo 2022
Attribution to NAV Performance for 9mo 2022 % Change in Weight in total Change in NAV Change in NAV Company Status share price / NAV1 performance per share (RON) NAV per share Hidroelectrica Unlisted 78.5% 32.85% 0.7433 42.1% Salrom Unlisted 1.6% 0.50% 0.0113 16.9% Top Bucharest Airports Unlisted 4.
Slide 8: Portfolio
Portfolio — 7 = ie %
Slide 9: Portfolio Structure
Portfolio Structure Listed vs Unlisted By Sector (% of NAV as at 31 October 2022)1 (% of NAV as at 31 October 2022)1 2% 0.8% 2.0% 1.8% 6% 4.8% 5.5% 6.8% 78.3% 92% Power Utilities: Generation Oil & Gas Unlisted Listed Net Cash & receivables Infrastructure Heavy industry Power & Gas Utilities: Others
Slide 10: Largest Holdings by NAV
Largest Holdings by NAV NAV as at % in NAV Majority % FP 31 October 2022 as at Portfolio Company Status Shareholder Stake1 (USD mn) 31 October 2022 Hidroelectrica Unlisted Romanian State 19.9% 2,448.2 78.3% OMV Petrom Listed OMV 2.9% 148.8 4.8% Bucharest Airports Unlisted Romanian State 20.0% 140.6
Slide 11: Hidroelectrica – Update
Hidroelectrica – Update 9mo 2022 preliminary results IPO Corporate governance • According to the management, in the first nine months of • Listing approval: On 31 March 2022 • Shareholders approved in the year, the company registered, compared to the same shareholders approved the initiation of Octo
Slide 12: OMV Petrom – Update
OMV Petrom – Update 9mo 2022 financials Business and operational updates • Consolidated sales revenues increased by 160% • The subscription period for the share capital increase approved by y.o.y., supported mainly by higher prices and higher shareholders in April ended in October, and the registrat
Slide 13: Bucharest Airports – Update
Bucharest Airports – Update Operational update Baneasa Airport share capital increase • Traffic in Q3 2022 reached the seasonal peak in • Following the 13 January 2022 hearing, the Bucharest Court of August, at 1.4 mn passengers per month. Appeal admitted the Fund’s request for the suspension of the
Slide 14: Corporate Actions
Corporate Actions FONDUL @. FRANKLIN -° TEMPLETON
Slide 15: 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 1,508.1 1,832.2 2,000 25.4% 29% 18.3% 21.9% 17.5% 18.3% 711.5 23% 1,500 583.1 600.0 832.5 15.5% 328.1 1,121.5 14.8% 16.1% 10.5% 14.5% 17% 1,00
Slide 16: 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 will be subject to Thirteenth Ongoing 800.00 mn / 12.87% 2.11622 Dec
Slide 17: Total dividend income from portfolio companies
Total dividend income from portfolio companies FP Net Dividend 2013 2014 2015 2016 2017 2018 2019 2020 2021 202212 Total Dividends from Listed Companies (RON mn) 373.9 538.6 251.5 36.0 148.1 199.6 223.0 200.2 117.0 127.7 Total Dividends from Unlisted Companies (RON mn) 275.81 143.5 315.9 315.2 404.5
Slide 18: 15 November 2022 GSM Agenda – Main Points (I)
15 November 2022 GSM Agenda – Main Points (I) Only the persons registered as shareholders of Fondul Proprietatea on 17 October 2022 (the Reference Date) in the register of shareholders kept by Depozitarul Central S.A. have the right to participate and vote at the GSM EGM agenda • The approval of the
Slide 19: 15 November 2022 GSM Agenda – Main Points (II)
15 November 2022 GSM Agenda – Main Points (II) The approval of: 8 December 2022 as Ex – Date; 9 December 2022 as Registration Date OGM agenda • The approval of the 2023 budget. • At the proposal of the Board of Nominees of Fondul Proprietatea: • The approval of the amendment of the Management – The
Slide 20: Financial results
Financial results FONDUL | QERANELIN » TEMPLETON 3) FRANKLIN @. TEMPLETON
Slide 21: Statement of Financial Position
Statement of Financial Position 30 September 2022 31 December 2021 RON mn Unaudited Audited Cash and current accounts 78.9 68.2 Deposits with banks 279.5 347.4 Government bonds – 77.1 Equity investments 15,124.6 12,577.7 Non-current assets held for sale – 1,135.20 Other assets 56.2 0.3 Total assets
Slide 22: Statement of Comprehensive Income
Statement of Comprehensive Income 9mo 2022 9mo 2021 RON mn Unaudited Unaudited Unrealised loss from equity investments at fair value through profit or loss (570.1) (107.1) Unrealised gain from equity investments at fair value through profit or loss 3,137.2 2,620.3 Realised loss from equity investmen
Slide 23: To ask a question
To ask a question: • use the Ask a question box or, • use one of the displayed phone numbers, press *, followed by no.1 on your telephone keypad. 22
Slide 24: Thank You
Fondul Proprietatea Premium Point Buzesti Street 76-80, 1st District Bucharest 011017 www.fondulproprietatea.ro Thank You