El5-ener · RUS:ELFV
El5-ener — Enel OGK-5 — Q1 2014 Earnings Presentation
13 slides from El5-ener's earnings presentation, Apr 29, 2014
Slide 1: Enel OGK-5 1Q 2014 Results
Enel OGK-5 1Q 2014 Results Moscow, 29 April 2014
Slide 2: Agenda
Enel OGK 5 Enel OGK-5 1Q 2014 Results Investor Relations Agenda • Financial Highlights • Power Generation 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
Slide 3: Financial Highlights (Mn RUR)
Enel OGK 5 Enel OGK-5 1Q 2014 Results Investor Relations Financial Highlights (Mn RUR)1 1Q132 1Q14 % Revenues 17,707 19,031 +7 EBITDA 4,857 4,967 +2 EBITDA margin (%) 27 26 Net Income 1,980 1,723 -13 Net Debt 19,3222 22,590 +17 EBITDA/Net financial expenses3 8.3 10.6 Net Debt/EBITDA4 1.2 1.3 Net Deb
Slide 4: Power Output and Sales
Enel OGK 5 Enel OGK-5 1Q 2014 Results Investor Relations Power Output and Sales Net Output (TWh) Power Sales (TWh) -3% -2% 10.9 10.6 12.4 12.2 CCGT 14% 8% Free Coal 47% 45% 83% 83% Regulated Gas 39% 47% 17% 17% 1Q13 1Q14 1Q13 1Q14 Plant availability Utilization on total capacity 88% 80% 55% 54% 1Q13
Slide 5: Unit Margin on Sales (RUR/MWh)
Enel OGK 5 Enel OGK-5 1Q 2014 Results Investor Relations Unit Margin on Sales (RUR/MWh)1 Unit Price +13% Unit Margin on Sales 936 1056 +11% 199 1Q13 1Q14 180 Unit Cost of Sales2 1Q13 1Q14 +13% 755 856 1Q13 1Q14 Unit margin growth supported by favourable fuel price dynamics 1 Excluding capacity payme
Slide 6: CCGTs vs. Conventional Gas Units
Enel OGK 5 Enel OGK-5 1Q 2014 Results Investor Relations CCGTs vs. Conventional Gas Units CCGT net output 1Q14 Spreads (TWh) (RUR/MWh) 1.5 Conventional gas units1 71 NGRES: 0.79 TWh 0.9 SGRES : 0.76 TWh NGRES: 39 0.81 TWh SGRES : 0.07 TWh 1Q13 1Q14 1Q13 1Q14 1Q14 utilization on CCGT units2 total cap
Slide 7: Revenues and costs (Bn RUR)
Enel OGK 5 Enel OGK-5 1Q 2014 Results Investor Relations Revenues and costs (Bn RUR) Operating revenue breakdown Variable costs 10.4 11.6 19.0 1.2 1.6 17.7 1.5 1.5 Fuel 9.2 10.0 4.7 Purchased power 4.7 Power Capacity 1Q13 1 1Q14 2 12.8 11.5 Heat and other Fixed costs 2.5 2.6 O&M manageable 0.2 0.3 O
Slide 8: EBITDA evolution (Mn RUR)
Enel OGK 5 Enel OGK-5 1Q 2014 Results Investor Relations EBITDA evolution (Mn RUR) +2% +180 -95 +25 4,967 4,857 Generation Fixed costs Other items margin 1Q13 1Q14 EBITDA growth supported by generation margin 8
Slide 9: From EBITDA to Net Income (Mn RUR)
Enel OGK 5 Enel OGK-5 1Q 2014 Results Investor Relations From EBITDA to Net Income (Mn RUR) 1Q13 1Q14 % EBITDA 4,857 4,967 +2 Depreciation and amortisation1 (1,702) (1,675) -2 EBIT 3,155 3,292 +4 Net Financial Charges2 (705) (1,105) +57 EBT 2,450 2,187 -11 Income Tax (471) (465) -1 Net Income 1,980
Slide 10: Net Debt Evolution
Enel OGK 5 Enel OGK-5 1Q 2014 Results Investor Relations Net Debt Evolution Net Debt (Mn RUR) Hedged Debt on Total Debt +3,268 6% 9% Unhedged 91% 94% Hedged 22,590 31Dec13 31Mar14 +1,350 +99 +3,456 Net financial 19,322 -1,637 FX charges Cash flow from Capex Average Cost of Debt operations1 1Q 2013 1
Slide 11: Focus on Liquidity
Enel OGK 5 Enel OGK-5 1Q 2014 Results Investor Relations Focus on Liquidity Available credit facilities (Bn RUR)1 Utilized amount (%) -0.2 64% 68% 44.2 44.0 71% 75% 25% 29% 31Dec13 31Mar14 31Dec13 31Mar14 Long-term Short-term Well-balanced debt structure 1 Not adjusted for FX differences on EUR-nomi
Slide 12: Disclaimer
Enel OGK 5 Investor Relations Disclaimer This presentation contains certain statements that are neither reported financial results nor other historical information (“forward-looking statements”). These forward-looking statements are based on OJSC Enel OGK-5 ’s current expectations and projections ab
Slide 13: Contact Us
Enel OGK 5 Investor Relations Contact Us • 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) 13