El5-ener · RUS:ELFV
El5-ener — Enel Russia — FY2015 Earnings Presentation
13 slides from El5-ener's earnings presentation, Mar 10, 2016
Slide 1: Enel Russia 2015 Results
Enel Russia 2015 Results 10/03/2016 Moscow
Slide 2: Agenda
Enel Russia 2015 Results Agenda • Financial highlights • Net power output 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 (RUB mn)
Enel Russia 2015 Results Financial highlights (RUB mn)¹ 2014 2015 % Revenues 74,405 70,992 -4.6 EBITDA 18,408 10,821 -41.2 - EBITDA margin (%) 24.7 15.2 -9.5 Net income (loss) 5,582 (48,629) - Net ordinary income (loss) 7,139² (2,089) - Net debt 21,081 24,547 +16.4 EBITDA/Net financial expenses³ 9.6
Slide 4: Net power output and sales
Enel Russia 2015 Results Net power output and sales Net Output (TWh) Power Sales (TWh) -0.1% -0.7% 48.4 48.4 42.4 42.1 12% 14% CCGT 43% 45% Free Coal 84% 83% Regulated Gas 45% 41% 16% 17% 2014 2015 2014 2015 Plant availability Utilization on total capacity 75% 81% 53% 53% 2014 2015 2014 2015 • Ural
Slide 5: Unit margin on sales (RUB/MWh)
Enel Russia 2015 Results Unit margin on sales (RUB/MWh)¹ Unit price -2.5% 1,097 Unit margin on sales 1,070 -38.9% 226 138 2014 2015 Unit cost of sales² +7.0% 2014 2015 932 871 2014 2015 5 1 Excluding capacity payment Unit margin decrease due to lower DAM prices and higher cost of coal 2 Including en
Slide 6: CCGTs vs. conventional gas units
Enel Russia 2015 Results CCGTs vs. conventional gas units 2015 Spreads (RUB/MWh) CCGT net output (TWh) Conventional gas units¹ 139 5.9 5.2 99 2014 2015 2014 2015 2015 utilization on total capacity CCGTs 84% 481 426 43% Conventional gas units CCGTs 2014 2015 • Unit CCGTs output and utilization increa
Slide 7: Revenues and costs (RUB bn)
Enel Russia 2015 Results Revenues and costs (RUB bn) Variable costs Operating revenue breakdown 45.2 47.7 6.5 6.2 74.4 71.0 4.3 4.0 Purchased power 17.2 15.3 38.7 41.5 Fuel Heat and other Capacity 2014 2015 Power 52.9 51.7 Fixed costs 12.6 10.9 1.6 Overhead 1.4 4.3 3.1 Personnel 2014 2015 2.9 3.2 O&
Slide 8: EBITDA evolution (RUB mn)
Enel Russia 2015 Results EBITDA evolution (RUB mn) -41.2% 18,408 -5,933 -1,641 Generation -13 10,821 margin Fixed costs Other items 2014 2015 EBITDA dynamics negatively affected by lower free prices, higher fuel and fixed costs 8
Slide 9: From EBITDA to net income (RUB mn)
Enel Russia 2015 Results From EBITDA to net income (RUB mn) 2014 2015 % EBITDA 18,408 10,821 -41.2 Amortisation, depreciation and impairment (8,630) (65,504) +659.0 EBIT 9,778 (54,682) - Net financial charges (2,716) (5,806) +113.8 EBT 7,063 (60,489) - Income tax (1,481) 11,859 - Net income (loss) 5
Slide 10: Net debt evolution
Enel Russia 2015 Results Net debt evolution Net debt (RUB mn) Hedged Debt on Total Debt +2,105 +3,681 -3,469 Unhedged 100% 100% Hedged +2,856 24,547 21,081 -7,677 +8,074 FX Net financial 31Dec14 31Dec15 charges Dividends Average Cost of Debt Cash flow from CAPEX 2014 2015 operations¹ Cost Weight Cos
Slide 11: Focus on Liquidity
Enel Russia 2015 Results Focus on Liquidity Total credit facilities (RUB bn)¹ Utilized amount 103.0 99.5 35% 29% Long-term 82% 89% Short-term 18% 11% 31Dec14 31Dec15 31Dec14 31Dec15 11 1 Not adjusted for FX differences on EUR-nominated facilities
Slide 12: Contacts
Enel Russia 2015 Results Contacts Enel Russia Investor Relations Ekaterina Orlova +7 495 539 31 31 ext. 7746 ekaterina.orlova@enel.com Visit our website at: www.enel.ru (Investor Relations) 12
Slide 13: Thank you
enel Thank you