Acciona Sa · BME:ANA
Acciona Sa — H1 2021 Earnings Presentation
25 slides from Acciona Sa's earnings presentation, Jul 30, 2021
Slide 1: H1 2021 Results Presentation
H1 2021 – January - June 3 0 th J u l y 2 0 2 1 RESULTS PRESENTATION
Slide 2: Disclaimer
A C C I O N A H 1 2 0 2 1 R E S U L T S DISCLAIMER This document has been prepared by ACCIONA. S.A. (“ACCIONA” or the “Company” and, together with its subsidiaries, the “ACCIONA Group”) FORWARD-LOOKING STATEMENTS exclusively for use during the presentation of financial results. Therefore it cannot b
Slide 3: Key Highlights H1 2021
A C C I O N A H 1 2 0 2 1 R E S U L T S KEY HIGHLIGHTS H1 2021 Successful execution of ACCIONA ENERGÍA IPO, solid financial position & positive FY 2021 outlook reiterated 17.25% stake sold @€8.8bn equity valuation SUCCESFULL IPO OF ACCIONA ENERGÍA… €1.5bn gross cash proceeds for ACCIONA …WITH A SIGN
Slide 4: Financial Results Highlights H1 2021
A C C I O N A H 1 2 0 2 1 R E S U L T S FINANCIAL RESULTS HIGHLIGHTS H1 2021 H1 2021 % Chg. H1 2021 H1 2020 (€m) vs H1 2020 (€m) (€m) Revenues 3,555 17% Net Investment 1,122 504 EBITDA 643 29% EBT 228 448% H1 2021 H1 2020 of which Nordex contribution -18 (€m) (€m) Attributable net profit 148 566% Ne
Slide 5: ESG Results Highlights – H1 2021
A C C I O N A H 1 2 0 2 1 R E S U L T S ESG RESULTS HIGHLIGHTS – H1 2021 Key ESG indicators ESG highlights ▪ Launch of the new Sustainability Master Plan (SMP) 2025 that adds “regeneration” to People 30-Jun-21 30-Jun-20 % Var the “responsibility” and “resilience” dimensions of the two previous plans
Slide 6: Investment by Division
A C C I O N A H 1 2 0 2 1 R E S U L T S INVESTMENT BY DIVISION Net Investment breakdown Key highlights (Million Euro) Jan-Jun 21 Jan-Jun 20 Net ordinary capex amounted to €1,081m, most of it concentrated in Q1 2021 Energy (1) 661 413 Infrastructure 143 49 The Energy business represents 61% of the ne
Slide 7: Net Debt Evolution
A C C I O N A H 1 2 0 2 1 R E S U L T S NET DEBT EVOLUTION Net debt reconciliation H1 2021 (€m) NET FINANCING OPERATING INVESTMENT OTHERS CF: €113m CF: -€1,122m CF: -€58m (96) (950) (86) (1,034) (2) (1) (2) Debt associated to work in progress IFRS16 adjustment Derivatives 1. IFRS16 adjustment as of
Slide 8: Net Financial Debt
A C C I O N A H 1 2 0 2 1 R E S U L T S NET FINANCIAL DEBT Net financial debt breakdown by nature (€m) Net debt & cash interest evolution (€m) Average Average Av. maturity undrawn cost of debt debt maturity (years) Credit Lines (years) Project Debt Corporate (1) Debt 8 1. Impact of reclassifing from
Slide 9: Net Financial Debt - Proforma
A C C I O N A H 1 2 0 2 1 R E S U L T S NET FINANCIAL DEBT - PROFORMA Net financial debt breakdown by nature (€m) 5,792 IPO proceeds - in July 2021, ACCIONA completed the sale of a 487 5,305 17.25% stake of ACCIONA Energía for a total amount of €1,518m 53 4,326 (1,320) (198) Net of transaction costs
Slide 10: ACCIONA Energía Operating Results
A C C I O N A H 1 2 0 2 1 R E S U L T S ACCIONA ENERGÍA OPERATING RESULTS Key figures H1 2021 EBITDA evolution (€m) (Million Euro) Jan-Jun 21 Jan-Jun 20 Chg. (€m) Chg. (%) Generation Spain 321 308 13 4.3% Generation International 377 296 82 27.6% Intragroup adjust., Supply & Other 343 241 101 42.0%
Slide 11: Infrastructure
A C C I O N A H 1 2 0 2 1 R E S U L T S INFRASTRUCTURE Key figures H1 2021 EBITDA evolution (€m) (Million Euro) Jan-Jun 21 Jan-Jun 20 Chg. Chg. (%) Construction Revenues 1,598 1,283 315 24.6% EBITDA 57 2 54 n.m Margin (%) 3.5% 0.2% +76.3% Concessions Revenues 20 37 -17 -44.9% EBITDA 18 22 -3 -16.0%
Slide 12: Project Backlog Reaches a New Record High
A C C I O N A H 1 2 0 2 1 R E S U L T S PROJECT BACKLOG REACHES A NEW RECORD HIGH €2.4bn of new project awards in H1 2021 €337m Jubail 3B desalination plant in Saudi Arabia Significant €315m Tren Maya Playa Carmen – Tulum in Mexico new projects additions €213m Southern Program Aliance AWP4 in Melbou
Slide 13: Property Development
A C C I O N A H 1 2 0 2 1 R E S U L T S PROPERTY DEVELOPMENT Land bank to deliver > 5,000 housing units in 5 years Property Development - Key figures H1 2021 Key drivers for H2 2021 & 2022 ▪ Housing deliveries to accelerate: 244 deliveries expected for H2 2021, versus 156 in H1 (Million Euro) Jan-Ju
Slide 14: Bestinver
A C C I O N A H 1 2 0 2 1 R E S U L T S BESTINVER Leading independent provider of comprehensive financial services Bestinver - Key figures H1 2021 Key highlights (Million Euro) Jan-Jun 21 Jan-Jun 20 Chg. Chg. (%) ▪ €977m increase in Assets Under Management (AUM) versus December 2020, most of it driv
Slide 15: Concluding Remarks
A C C I O N A H 1 2 0 2 1 R E S U L T S CONCLUDING REMARKS IPO TO UNLOCK FULL GROWTH POTENTIAL OF ACCIONA ENERGÍA › S I G N I F I C A N T I M P R O V E M E N T I N A C C I O N A G R O U P ’ S C O S T O F C A P I TA L , B U S I N E S S & C R E D I T P R O F I L E NON-ENERGY BUSINESSES – EXCELLENT POS
Slide 16: Appendix
04 APPENDIX
Slide 17: EBITDA & Capital Employed by Type of Activity
A C C I O N A H 1 2 0 2 1 R E S U L T S EBITDA & CAPITAL EMPLOYED BY TYPE OF ACTIVITY EBITDA CAPITAL LT CONTRACTED EMPLOYED 66% ASSETS & INFRA 74% MANAGEMENT €8,570m €8,562m CONTRACTS (2) Non - LT (15%) Contracted (19%) Generation GREENFIELD DEVELOPMENT BUSINESS LONG-TERM ASSET BUSINESS SERVICES BUS
Slide 18: Debt Maturity & Breakdown - Proforma
A C C I O N A H 1 2 0 2 1 R E S U L T S DEBT MATURITY & BREAKDOWN - PROFORMA Liquidity and gross debt maturity schedule (€m) 5,491 Available 2,332 facilities (1) 1,973 ANA Cash 2,402 1,351 1,248 2,900 676 602 539 ANE 271 498 Debt breakdown by nature Gross financial debt - Level Gross financial debt
Slide 19: Scheduled Capacity Additions
A C C I O N A H 1 2 0 2 1 R E S U L T S SCHEDULED CAPACITY ADDITIONS Scheduled Capacity Additions per MW year (MW) (1) Under Start Start Asset % ANA Added Technology Country Total const. const. const. 2021 2022 2023 2024 Details name stake YTD Jun 2021 2021 2022 Wind Mexico San Carlos 100% 198 145 1
Slide 20: Energy – Installed Capacity
A C C I O N A H 1 2 0 2 1 R E S U L T S ENERGY – INSTALLED CAPACITY Installed MW (30 June 2021) Total Consolidated Eq accounted Net Spain 5,677 4,452 593 5,014 Wind 4,738 3,514 593 4,078 Hydro 873 873 0 873 Solar PV 4 4 0 4 Biomass 61 61 0 59 International 5,511 4,672 358 4,314 Wind 4,006 3,804 48 3
Slide 21: Energy – Wind, Drivers by Country
A C C I O N A H 1 2 0 2 1 R E S U L T S ENERGY – WIND, DRIVERS BY COUNTRY Wind prices (€/MWh) (1) and Load factors (%) H1 2021 H1 2020 Chg. (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) Spain Average 59.7 26.0% 64.5 22.5% -7.5% Spain - Regulated 70.7 79.3 Spain - Not regula
Slide 22: Energy – Other Technologies, Drivers by Country
A C C I O N A H 1 2 0 2 1 R E S U L T S ENERGY – OTHER TECHNOLOGIES, DRIVERS BY COUNTRY Other technologies (€/MWh) and Load factors (%) H1 2021 H1 2020 Chg. (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) Hydro Spain 53.3 29.0% 39.5 38.3% 34.9% Biomass Spain 132.5 77.9% 122.7
Slide 23: Concessions – Transport & Hospital Concessions Breakdown
A C C I O N A H 1 2 0 2 1 R E S U L T S CONCESSIONS – TRANSPORT & HOSPITAL CONCESSIONS BREAKDOWN Name Description Period Country ACCIONA Status Accounting method Asset type Remodeling, restoration, operation and maintenance of a 76.5km strech of an existing road between km 62 (A-2) and km 139 A2 - S
Slide 24: Concessions – Details of Water Concessions under IFRIC12
A C C I O N A H 1 2 0 2 1 R E S U L T S CONCESSIONS – DETAILS OF WATER CONCESSIONS UNDER IFRIC12 Name Description Period Country ACCIONA Status Accounting method Asset type EDAR 8B Construction, operation and maintenance of the wastewater treatment plant "08B Zone" of Aragon 2008 - 2031 Spain 100% O
Slide 25: Results Presentation
H1 2021 – January - June 3 0 th J u l y 2 0 2 1 RESULTS PRESENTATION