S.p.e.e.h. Hidroelectrica S.a. · BVB:H2O
S.p.e.e.h. Hidroelectrica — H1 2024 Earnings Presentation
16 slides from S.p.e.e.h. Hidroelectrica's earnings presentation, August 2024
Slide 1: #1 Power Producer in Romania and One of the Largest European Hydro Companies
#1 Power Producer in Romania and One of the Largest European Hydro Companies General Presentation H1 2024 Key Financials Update
Slide 2: Disclaimer
Disclaimer THIS DOCUMENT IS NOT AN OFFER OR AN INVITATION TO BUY OR SELL SECURITIES. IMPORTANT: Please read the following before continuing. This document has been prepared by S.P.E.E.H. HIDROELECTRICA S.A. (the “Company”) and relates to the Company and its subsidiary (together, the “Group”) and the
Slide 3: Hidroelectrica Management Board
Hidroelectrica Management Board Karoly Borbely Marian Fetița CEO / President of the CFO / Management Board Member of the Management Board Bogdan Badea Radu Constantin Ianăș Rădoi CIO / CAO / COO / Member of the Management Board Member of the Management Board Member of the Management Board Following
Slide 4: Hidroelectrica at a Glance
Hidroelectrica at a Glance #1 Electricity Producer in Romania with 100% Renewable Energy Portfolio of Scale Financial and Operational Performance Adj. EBITDA(3) (RON M) 71.0% 67.2% #1 electricity generation player ~28.3% ~95% 8.3 TWh 11.5 8.7 in Romania of electricity of Romanian energy delivered to
Slide 5: Hidroelectrica H1 2024 Key Financials Update
02 Hidroelectrica H1 2024 Key Financials Update Bogdan Badea – CEO / President of the Executive Board
Slide 6: Revenue decreased due to evolution of the energy price and volumes
Revenue decreased due to evolution of the energy price and volumes Revenue Highlights Revenue (RON M) 6,977 155 3 1 Revenue decrease mainly driven by the decrease in electricity selling prices 2.382 5,150 (both locally and in the interconnected 191 1 European market) and in the quantity of (1,126) (
Slide 7: Volumes decreased in H1 2024 due to hydrological conditions
Volumes decreased in H1 2024 due to hydrological conditions Energy Sold Highlights Energy Sold (GWh) 11,063 1 Hidroelectrica’s total energy produced in H1 2024 was 8,293 GWh (-22% from H1 2023) and the energy sold1 reached 2.965 8,408 GWh (-24% from H1 2023) (477) 8,408 (2,178) 2.488 2 Of the energy
Slide 8: Electricity Production
Electricity Production Gross Electricity Production for the last 10 years Gross Electricity Production (TWh) 18,5 18,1 17,6 17,2 16,9 16,1 4,5 15,2 15,0 3,6 4,3 14,0 3,0 3,0 13,9 3,5 2,8 3,8 3,6 3,5 4,9 3,6 3,4 5,2 3,0 4,2 3,1 8,5 2,8 4,0 3,0 4,9 5,7 6,4 5,2 5,1 5,9 4,1 5,2 4,2 4,2 3,8 3,5 4,8 3,8 3
Slide 9: Revenue Build-up
Revenue Build-up H1 2024 H1 2023 Variation (%) Total Production GWh 8,293 10,625 -22% External Acquisitions GWh 416 835 Total Energy Sold GWh 8,709 11,460 -24% Generation Energy Sold GWh 5,636 7,947 -29% OPCOM Price RON / MWh 441 508 OPCOM Revenues RONm 2,486 4,037 -38% Other Ancillary Revenues RONm
Slide 10: Adjusted EBITDA
Adjusted EBITDA Adjusted EBITDA Highlights Adjusted EBITDA (RON M) Adjusted EBITDA Breakdown (RON M) 6M 24 6M 23 1 Net Income decreased by RON 1,256 m (-32%) in H1 2024 compared to H1 2023, due to decrease in electricity selling prices and in the quantity of EBITDA 4,955 electricity sold EBITDA 3,47
Slide 11: Stable Cost Structure and a Cost-Efficient Organisation
Stable Cost Structure and a Cost-Efficient Organisation Operating Expenses Highlights Operating Expenses (RON M) Increase in depreciation and amortization by 13% from 1 H1 2023 to H1 2024 primarily due to the reevaluation of % of Revenues 35% 42% assets performed at the end of 2023 which resulted in
Slide 12: Stable Cash Flows from Both Power Generation and Supply activities
Stable Cash Flows from Both Power Generation and Supply activities Operating Cash Flow Highlights Operating Cash Flow (RON MM) 228 (46) 3,730 2,328 (68) 1 Net Income decreased by RON 1,256 m (-32%) in H1 2024 compared to H1 2023, due to decrease in electricity selling prices and in the quantity of e
Slide 13: Trade Receivables
Trade Receivables Supply Clients (consumptions sites) Wholesale and Retail Revenue Wholesale and Retail Receivables (Numbers) (RON M) (RON M) 3,343 3,205 3,117 2,743 1.047 2,578 2,427 521 1.446 2.105 802 1,428 1.811 1.378 1.637 1.352 768 611 1.383 429 192 168 136 182 348 234 263 492 113 339 414 120
Slide 14: Appendix
HIDROELECTRICA Appendix
Slide 15: Current Regulatory Framework in the Romanian Energy Market
Current Regulatory Framework in the Romanian Energy Market GEO 32/2024 (modifies the GEO 27/2022) Illustrative Retail Customer Invoice Composition • Centralized Purchase Mechanism (CEPM or MACEE) became voluntary starting Regulated Retail on 1 April, until 31 December 2024. RON 680 – 1,300/MWh Price
Slide 16: Q&A session
End Presentation Q&A session
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