Slide 1: FY 2015 Results
FY 2015 RESULTS February 25th, 2016
Slide 2: Agenda
Photovoltaic power plant – Curbans, France AGENDA Opening remarks Strategic overview and 3-year transformation plan FY 2015 results Financial outlook Wind farm – Germinon-Vélye, France Conclusion FY 2015 RESULTS 2
Slide 3: Opening remarks: Introduction
OPENING REMARKS INTRODUCTION 2015 guidance achieved despite an extremely difficult market context but significant impairments impacting net income Group share Energy Transition creates major opportunities worldwide ENGIE decides to accelerate the strategic shift started 2 years ago • Leveraging on h
Slide 4: 2015 Results
OPENING REMARKS 2015 RESULTS 2015 guidance achieved, strong cash generation and robust financial structure, showing resilience in a deteriorated market environment In €bn 2015 results 2015 guidance NET RECURRING INCOME Group share 2.6 2.6 – 2.9(1) including nuclear contribution in Belgium 2.7 at ave
Slide 5: A 3-year transformation plan building upon strong industrial positions
OPENING REMARKS A 3-YEAR TRANSFORMATION PLAN BUILDING UPON STRONG INDUSTRIAL POSITIONS Strategy focused on low CO2 energy mix, integrated customer solutions and contracted / regulated activities • Leveraging on historical leadership positions • Reducing exposure to commodity prices 2016-2018 transfo
Slide 6: Agenda
AGENDA Wind farm – Hangest-sur-Somme, France Opening remarks Strategic overview and 3-year transformation plan FY 2015 results Financial outlook Dam – Estreito, Brazil Conclusion FY 2015 RESULTS 6
Slide 7: Opportunities arising from a revolution
STRATEGIC OVERVIEW OPPORTUNITIES ARISING FROM A REVOLUTION ONGOING REVOLUTION… …CREATING LARGE OPPORTUNITIES Needed to answer key social For the world / For our clients and environmental challenges For ENGIE Thriving on digital and technology innovation In $bn, average annual worldwide investments(1
Slide 8: Why is ENGIE best positioned to capture these opportunities?
STRATEGIC OVERVIEW WHY IS ENGIE BEST POSITIONED TO CAPTURE THESE OPPORTUNITIES? UNIQUE STRONG GLOBAL A PIONEER’S LEADERSHIP FINANCIAL COMPANY DNA POSITIONS STRUCTURE CENTRALIZED ENERGY 70 countries Capacity for reinvention A-category rating embedded in Group history Worldwide IPP leader Strong histo
Slide 9: ENGIE forerunner in the new energy world
ENGIE FORERUNNER IN THE NEW ENERGY WORLD Photovoltaic power plant – Bollène, France FY 2015 RESULTS 9
Slide 10: 2016-18 Transformation Plan
3-YEAR TRANSFORMATION PLAN 2016-18 TRANSFORMATION PLAN REDESIGN COMMIT IMPROVE PAVE THE WAY & SIMPLIFY TO DIGITAL EFFICIENCY FOR THE FUTURE THE PORTFOLIO TRANSFORMATION €15bn PORTFOLIO ROTATION €1bn €1.5bn PERFORMANCE EMERGING TECHNOLOGIES €22bn PROGRAM DIGITAL CAPEX o/w €7bn of maintenance AGILE AN
Slide 11: Redesign & simplify the portfolio in 3 strategic directions
REDESIGN & SIMPLIFY IMPROVE PAVE THE WAY COMMIT TO DIGITAL THE PORTFOLIO EFFICIENCY FOR THE FUTURE TRANSFORMATION REDESIGN & SIMPLIFY THE PORTFOLIO IN 3 STRATEGIC DIRECTIONS CONTRACTED / REGULATED(1) EBITDA >85% LOWER EXPOSURE TO COMMODITY PRICES 3 DIRECTIONS 2018 AMBITIONS PRIORITY TO DOWNSTREAM LO
Slide 12: Redesign & simplify the portfolio
REDESIGN & SIMPLIFY IMPROVE PAVE THE WAY COMMIT TO DIGITAL THE PORTFOLIO EFFICIENCY FOR THE FUTURE TRANSFORMATION REDESIGN & SIMPLIFY THE PORTFOLIO LOW CO2 POWER CUSTOMER GLOBAL NETWORKS GENERATION SOLUTIONS Integrated solutions for customers: Gas distribution - Energy efficiency Solar €22bn CAPEX T
Slide 13: €15bn portfolio rotation program
REDESIGN & SIMPLIFY IMPROVE PAVE THE WAY COMMIT TO DIGITAL THE PORTFOLIO EFFICIENCY FOR THE FUTURE TRANSFORMATION €15bn PORTFOLIO ROTATION PROGRAM >1/3 ALREADY SIGNED AS OF TODAY 2 TRANSACTIONS SIGNED 10 GW MERCHANT POWER(1) 3 GW COAL GENERATION United States 2 GW in Indonesia (Paiton) Thermal and p
Slide 14: €22bn capex program over 3 years
REDESIGN & SIMPLIFY IMPROVE PAVE THE WAY COMMIT TO DIGITAL THE PORTFOLIO EFFICIENCY FOR THE FUTURE TRANSFORMATION €22bn CAPEX PROGRAM OVER 3 YEARS of which €7bn OF MAINTENANCE CAPEX Pursue international New uses development (biogas, retail LNG) (OpTerra, tuck-in acquisitions) FOCUS ON CORE Internati
Slide 15: Improve efficiency at all levels of the Group
REDESIGN & SIMPLIFY IMPROVE PAVE THE WAY COMMIT TO DIGITAL THE PORTFOLIO EFFICIENCY FOR THE FUTURE TRANSFORMATION IMPROVE EFFICIENCY AT ALL LEVELS OF THE GROUP LEAN 2018 PERFORMANCE PLAN €1bn OPEX SAVINGS BY 2018 ~+50% compared to Perform 2015 (yearly basis) Enterprise project to enable an end-to-en
Slide 16: Pave the way for the future
REDESIGN & SIMPLIFY IMPROVE PAVE THE WAY COMMIT TO DIGITAL THE PORTFOLIO EFFICIENCY FOR THE FUTURE TRANSFORMATION PAVE THE WAY FOR THE FUTURE 3 GUIDING PRINCIPLES INVESTMENTS STRUCTURE GLOBAL IN NEW TECHNOLOGIES A FAVORABLE & CROSS-SECTOR ECOSYSTEM PARTNERSHIPS 2 TIME HORIZONS DEPLOYMENT UNLOCK FUTU
Slide 17: Digital is a catalyst for the Group transformation
REDESIGN & SIMPLIFY IMPROVE PAVE THE WAY COMMIT TO DIGITAL THE PORTFOLIO EFFICIENCY FOR THE FUTURE TRANSFORMATION DIGITAL IS A CATALYST FOR THE GROUP TRANSFORMATION PAVE THE WAY FOR THE FUTURE New products and services based on data analytics REDESIGN Smart home, cities of tomorrow IMPROVE & SIMPLIF
Slide 18: Adapt the Group to capture future opportunities
3-YEAR TRANSFORMATION PLAN ADAPT THE GROUP TO CAPTURE FUTURE OPPORTUNITIES Need of attention to both internal and external stakeholders: increased awareness to trends and opportunities AGILE From command & control to decentralized, distributed leadership AND CONNECTED Anchored locally Fast and dynam
Slide 19: An in-depth transformation towards value creation
3-YEAR TRANSFORMATION PLAN AN IN-DEPTH TRANSFORMATION TOWARDS VALUE CREATION 3 YEAR PLAN (2016-2018): 3 VALUE CREATION LEVERS REDESIGNED MORE MORE INNOVATIVE & SIMPLIFIED EFFICIENT & DIGITAL €15bn portfolio rotation €1bn OPEX savings €1.5bn spendings €22bn CAPEX Improved risk profile Higher profitab
Slide 20: New dividend policy
3-YEAR TRANSFORMATION PLAN NEW DIVIDEND POLICY 2015 & 2016 2017 & 2018 €1/share dividend €0.70/share dividend per year in cash per year in cash VISIBILITY OFFERED ON A SUSTAINABLE NEW DIVIDEND POLICY FY 2015 RESULTS 20
Slide 21: Agenda
AGENDA Photovoltaic power plant – Porette de Nérone, France Opening remarks Strategic overview and 3-year transformation plan FY 2015 results Gas terminal – Montoir de Bretagne, France Financial outlook Conclusion FY 2015 RESULTS 21
Slide 22: Further significant drop in commodity prices
FY 2015 RESULTS FURTHER SIGNIFICANT DROP IN COMMODITY PRICES BRENT GAS EUROPE / ASIA In USD/bbl In €/MWh Forward 2017 Forward month ahead 105 55 TTF 50 JKM 95 PEG Sud 45 85 40 75 35 65 30 25 55 20 45 15 35 10 January 2014 July 2014 January 2015 July 2015 January 2016 January 2014 July 2014 January 2
Slide 23: Resilient NRIgs and robust cash generation
FY 2015 RESULTS RESILIENT NRIgs AND ROBUST CASH GENERATION In €bn 2014(1) 2015 EBITDA 12.1 11.3 NET RECURRING INCOME Group share including nuclear contribution in Belgium 2.7 2.6 NET INCOME Group share 2.4 -4.6 CASH FLOW FROM OPERATIONS (CFFO) 7.9 9.8 DIVIDEND €1/share €1/share NET DEBT/EBITDA 2.3x
Slide 24: Strong operational achievements and improved visibility in Belgium and Brazil
FY 2015 RESULTS STRONG OPERATIONAL ACHIEVEMENTS AND IMPROVED VISIBILITY IN BELGIUM AND BRAZIL LOW CO2 POWER GAS CUSTOMER GENERATION INFRASTRUCTURES SOLUTIONS +4 GW of new capacity 4-year visibility with new 7 acquisitions in services ~60% in renewables framework for GRDF and OpTerra 21.5 GW of insta
Slide 25: Difficult merchant environment leading to significant impairments
FY 2015 RESULTS DIFFICULT MERCHANT ENVIRONMENT LEADING TO SIGNIFICANT IMPAIRMENTS ACTIVITY TRIGGERS EVENTS STRATEGIC DECISIONS E&P Further drop in oil/gas prices Reduce exposure to commodity prices Reduce CO2 footprint Merchant power Assets under strategic review generation Adverse merchant enviro
Slide 26: Strong actions taken to tackle adverse commodity prices
FY 2015 RESULTS STRONG ACTIONS TAKEN TO TACKLE ADVERSE COMMODITY PRICES By main effect In €bn -7% +0.3 (0.1) (1.5) +0.25 12.1 +0.35 (0.15) (0.3) 2014 +0.38 +0.5 11.3 (0.2) 2015 (0.13) (-) Provisions Gas, oil (+) Gas midstream (1.0) Perform net +0.25(2) Power (0.5) QRP +0.25 2014 Weather FX Scope
Slide 27: Net recurring income resilience despite drop in EBITDA
FY 2015 RESULTS NET RECURRING INCOME RESILIENCE DESPITE DROP IN EBITDA In €bn -5% 2.7 (0.9) +0.1 2.6 +0.5 +0.1 ns o/w +0.2 nuclear contribution reduction 2014 Δ Δ Δ Δ Δ 2015 NRIgs(1) EBITDA D&A, Financial Income Minority NRIgs others result tax interests & others (1) Adjusted for nuclear contributio
Slide 28: Robust cash generation and balanced cash equation
FY 2015 RESULTS ROBUST CASH GENERATION AND BALANCED CASH EQUATION In €bn 2015 CASH EQUATION 10.3 9.8 +0.5 8.8 Margin calls (1.2) 7.9 €5.7bn Net Capex €3.1bn Dividend and others(1) 2013 2014 2015 2015 CFFO CFFO CFFO Cash uses (1) €2.4bn dividends + €0.1bn taxes on dividends + €0.5bn dividends to mino
Slide 29: Sound financial structure and optimized cost of debt
FY 2015 RESULTS SOUND FINANCIAL STRUCTURE AND OPTIMIZED COST OF DEBT Net debt/EBITDA ≤ 2.5x 2.5x 2.46x 2.3x 2.2x Dec 12 Dec 13 Dec 14 Dec 15 Net debt & cost of gross debt in €bn 36.6 28.8 27.5 27.7 4.18% 3.40% 3.14% 2.99% Dec 12 Dec 13 Dec 14 Dec 15 Net debt Cost of gross debt €18bn LIQUIDITY AT END
Slide 30: Agenda
AGENDA Opening remarks Strategic overview Photovoltaic power plant – Bollène, France and 3-year transformation plan FY 2015 results Financial outlook Conclusion Gas tanker Matthew FY 2015 RESULTS 30
Slide 31: 2016 guidance demonstrating resilience
FINANCIAL OUTLOOK 2016 GUIDANCE DEMONSTRATING RESILIENCE GUIDANCE(1) NRIgs €2.4-2.7bn ―A‖ category rating Dividend €1/share in cash Net debt / EBITDA ≤ 2.5x EBITDA INDICATION(1) By main effect In €bn 11.3 (0.25) +0.1 (0.3) +0.5 +0.2 (0.2) 10.8-11.4(2) (0.3) (0.3) +0.4 Gas, oil Midstream 2015 FX Weat
Slide 32: Lean 2018: €1bn opex savings
FINANCIAL OUTLOOK LEAN 2018: PERFORMANCE PLAN €1bn OPEX SAVINGS RAMP-UP BY LEVER NET EBITDA IMPACT ON OPEX EBITDA IMPACT ON OPEX In €bn ~1.0 43% vs. 0.9 ~0.75 G&A ~0.5 3 4 years years Other Opex 57% 2016 2017 Lean Perform (2016-2018) (2012-2015) Net EBITDA impact after inflation Of which procurement
Slide 33: Hedging policy delaying the impact of falling commodity prices beyond 2016
FINANCIAL OUTLOOK HEDGING POLICY DELAYING THE IMPACT OF FALLING COMMODITY PRICES BEYOND 2016 OIL GAS POWER E&P production Nuclear & hydro production ~20 mboe ~60 TWh (2015) ~60 TWh/year 1-year 2 to 3-year 3-year hedging policy Hedging policy Managed at NRIgs level Hedges: prices & volumes as of 12/3
Slide 34: Adapting Group profile to offset commodity headwinds
FINANCIAL OUTLOOK ADAPTING GROUP PROFILE TO OFFSET COMMODITY HEADWINDS AND TO IMPROVE EARNINGS VISIBILITY 2016-2018 STRATEGIC CRITERIA FINANCIAL CRITERIA PORTFOLIO ROTATION €15bn Merchant exposure Attractive multiples and debt net CO2 emissions limited dilution at NRIgs PROGRAM CO2 light activities
Slide 35: 2016-2018 cash equation
FINANCIAL OUTLOOK 2016-2018 CASH EQUATION Dividends CASH FLOW FROM OPERATIONS Committed industrial Capex maintenance and growth & PORTFOLIO Additional growth Capex ROTATION PROGRAM Net debt reduction FY 2015 RESULTS 35
Slide 36: Agenda
AGENDA Opening remarks Strategic overview and 3-year transformation plan FY 2015 results Tour T1 – Paris-La Défense, France Financial outlook Conclusion FY 2015 RESULTS 36
Slide 37: Conclusion
CONCLUSION 2016-2018 TRANSFORMATION PLAN TOWARDS VALUE CREATION TARGETED BUSINESS MIX FINANCIAL OUTLOOK DIVIDEND Low CO2 2016 2015-2016 Resilient NRIgs €1/share Integrated customer €2.4 - 2.7bn per year in cash solutions Improved risk-return 2016-2018 2017-2018 profile ―A‖ category rating €0.70/shar
Slide 38: Business Appendices
BUSINESS APPENDICES APPENDICES 2015 RESULTS February 25th, 2016
Slide 39: Appendices - Index
APPENDICES - INDEX BUSINESS FINANCIAL APPENDICES APPENDICES PAGE 40 PAGE 109 Generation capacity & electricity output 41 Impact of weather in France 110 CO2 52 Change in number of shares, scope & forex 113 Gas Balance 55 Balance sheet, P/L & cash flow statement 118 Energy International 58 Profit & L
Slide 40: Business Appendices 2015 Results
BUSINESS APPENDICES 2015 RESULTS
Slide 41: Generation capacity & electricity output
GENERATION CAPACITY & ELECTRICITY OUTPUT
Slide 42: Breakdown of generation capacity by geographic area
BREAKDOWN OF GENERATION CAPACITY BY GEOGRAPHIC AREA As of 12/31/2015 META Asia Latin America Europe North America Oceania BUSINESS APPENDICES At 100% 60% 3% 97% 9% 2% 1% 8% international international 47% 97% 8.1 GW 30% 117.1 GW 40% in fast growing 24% in fast growing under installed markets markets
Slide 43: Breakdown of generation capacity by technology
BREAKDOWN OF GENERATION CAPACITY BY TECHNOLOGY As of 12/31/2015 Natural gas Hydro Wind Biomass & biogas Solar Nuclear Coal Other non-renewable BUSINESS APPENDICES At 100% 84% 3% 52% 14% 13% low CO2 emissions low CO2 emissions 5% 18% 1% 18% 34% 1% 117.1 GW 8.1 GW renewables(1) 4% 56% renewables(1) un
Slide 44: Installed capacity evolution vs end 2014
INSTALLED CAPACITY EVOLUTION VS END 2014 As of 12/31/2015, in GW, at 100% BUSINESS APPENDICES +4.0 GW of new capacity added: -2.3 GW closed or sold • ~80% in fast growing markets in mature markets (coal, gas) • >85% in low CO2 technologies: ― ~60% in renewables ― ~25% in gas +0.2 +0.7 +1.5 +1.6 +0.2
Slide 45: Renewable energy: ~18% of Group's generation capacity
RENEWABLE ENERGY: ~18% OF GROUP’S GENERATION CAPACITY As of 12/31/2015 Hydro(1) Wind Biomass & biogas Solar BUSINESS APPENDICES At 100% % consolidation(2) Net ownership(3) 5% 3% 6% 3% 8% 2% 22% 19% 22% 21.5 GW 71% 14.7 GW 72% 10.8 GW 68% installed installed installed Biomass Biomass Biomass in MW Hy
Slide 46: Total installed capacity by business line
TOTAL INSTALLED CAPACITY BY BUSINESS LINE As of 12/31/2015 BUSINESS APPENDICES At 100% % consolidation(1) Net ownership(2) Under Under Under In MW In operation TOTAL In operation TOTAL In operation TOTAL construction construction construction ENERGY INTERNATIONAL 74,862 7,794 82,656 46,043 3,985 50,
Slide 47: Expected commissioning of capacity under construction
EXPECTED COMMISSIONING OF CAPACITY UNDER CONSTRUCTION As of 12/31/2015, at 100% BUSINESS APPENDICES Under construction In MW 2016 2017 ≥2018 TOTAL ENERGY INTERNATIONAL 4,303 799 2,693 7,794 Latin America 1,278 110 988 2,376 Asia-Pacific - - - - North America 54 - - 54 UK-Turkey - 10 - 10 South Asia,
Slide 48: Expected commissioning of capacity under construction (net ownership)
EXPECTED COMMISSIONING OF CAPACITY UNDER CONSTRUCTION As of 12/31/2015, in net ownership(1) BUSINESS APPENDICES Under construction In MW 2016 2017 ≥2018 TOTAL ENERGY INTERNATIONAL 1,463 426 1,391 3,280 Latin America 649 68 625 1,342 Asia-Pacific - - - - North America 54 - - 54 UK-Turkey - 5 - 5 Sout
Slide 49: Total generation output by geographic area and technology
TOTAL GENERATION OUTPUT BREAKDOWN BY GEOGRAPHIC AREA AND TECHNOLOGY As of 12/31/2015 META Asia Latin America Natural gas Hydro Wind Biomass & biogas Solar Europe North America Oceania Nuclear Coal Other non-renewable BUSINESS APPENDICES At 100% 70% 4% 82% 1% 10% 17% international low CO2 emissions 3
Slide 50: Total electricity output by business line
TOTAL ELECTRICITY OUTPUT BY BUSINESS LINE As of 12/31/2015 BUSINESS APPENDICES In TWh At 100% % Consolidation(1) Net ownership(2) ENERGY INTERNATIONAL 356.5 208.5 173.7 Latin America 73.8 56.0 37.7 Asia-Pacific 60.8 45.5 33.2 North America 51.4 41.9 41.4 UK-Turkey 20.9 18.5 15.2 South Asia, Middle E
Slide 51: Electricity output by business line and fuel
ELECTRICITY OUTPUT BY BUSINESS LINE AND FUEL As of 12/31/2015, in % consolidation BUSINESS APPENDICES Natural Biomass Other non In TWh Hydro Wind Solar Nuclear Coal TOTAL gas and biogas renewable ENERGY INTERNATIONAL 115.0 38.2 2.3 1.2 - - 50.7 1.0 208.5 Latin America 9.0 34.0 0.7 0.4 - - 11.7 0.2 5
Slide 52: CO2
CO2
Slide 53: CO2 emissions in 2015
CO2 EMISSIONS IN 2015 BUSINESS APPENDICES 2015 - UNAUDITED FIGURES 64% 10% Europe / EU-ETS Energy International 90% outside Europe Coverage of CO2 emissions in mt 29% under EU-ETS in 2015 Energy Europe Direct emissions (scope 1) 133 of greenhouse gases 133 mt 1% Direct emissions (scope 1) 49 Global
Slide 54: CO2 emissions: among the low-emission producers
CO2 EMISSIONS: AMONG THE LOW-EMISSION PRODUCERS BUSINESS APPENDICES Europe Specific emissions linked to electricity production in Europe ENGIE close to European average Kg CO2/MWh 2014 carbon factor: 360 356 313kgCO2/MWh World Group’s emission ratio 20% below world average ratio(1) 2020 target: To r
Slide 55: Gas Balance
GAS BALANCE
Slide 56: 2015 gas balance: diversified portfolio
2015 GAS BALANCE: DIVERSIFIED PORTFOLIO In % consolidation 1,132 TWh 1,132 TWh(5) BUSINESS APPENDICES 324 SHORT TERM Others(2) Unspecified(1) NON REGULATED SALES Yemen 634 (giants, non regulated retail…) Australia 1% 1% 63 E&P PRODUCTION Nigeria 1% 9% 2% Lybia 26% Norway 3% Trinidad &Tobago 5% 554 T
Slide 57: Geographic split of gas usage
GEOGRAPHIC SPLIT OF GAS USAGE In % consolidation BUSINESS APPENDICES France Other 19% Australia 1% 5% South America 3% 6% Italy ~37% International North America 10% 6% Belgium 1,132 TWh 6% UK Asia 6% 5% The Netherlands 2% Middle East & Africa 12% 2% Romania 15% Germany Hungary 1% Other Europe(1) (1)
Slide 58: Energy International
ENERGY INTERNATIONAL
Slide 59: Energy International
ENERGY INTERNATIONAL Pressure on margins in mature markets partially offset by good performance in fast growing markets BUSINESS APPENDICES EBITDA 2015 vs 2014 Performance in Brazil benefitted from inflation indexation, lower In €m PLD prices, and progressive commissioning at Jirau Asia-Pacific
Slide 60: Energy International: generation capacity and production
ENERGY INTERNATIONAL Generation capacity and production as of 12/31/2015, at 100% BUSINESS APPENDICES BREAKDOWN OF GENERATION CAPACITY BREAKDOWN OF ELECTRICITY OUTPUT 3% <1% 13% 17% <1% Natural gas 2% Hydro <1% 1% Wind 74.9 GW 63% Biomass & biogas 356.5 TWh 16% 66% 19% installed Coal Other non-renew
Slide 61: Security of long-term contracts in fast growing markets
ENERGY INTERNATIONAL Security of long-term contracts in fast growing markets BUSINESS APPENDICES POWER GENERATION 75 GW INSTALLED, ~70% IN FAST GROWING MARKETS UK-Turkey 23% 6 GW 8% 19% North America 77% 13 GW 17% SAMEA 1% 81% Asia-Pacific 28 GW 37% 38% 12 GW 16% 62% Latin America 99% 17% 16 GW ~90%
Slide 62: Energy International / Latin America
ENERGY INTERNATIONAL / LATIN AMERICA BUSINESS APPENDICES EBITDA 2015 vs 2014 Strong performance in Brazil In €m Higher energy margin due to increases in bilateral contract average prices driven by inflationary adjustments Less adverse impact from hydrology thanks to lower PLD (28) (34) +117 +19
Slide 63: Latin America: generation capacity and production
ENERGY INTERNATIONAL / LATIN AMERICA Generation capacity and production as of 12/31/2015, at 100% BUSINESS APPENDICES BREAKDOWN OF GENERATION CAPACITY BREAKDOWN OF ELECTRICITY OUTPUT 7% 10% <1% 16% 12% 13% Natural gas 1% Hydro 1% <1% 1% Wind 15.7 GW Biomass & biogas 73.8 TWh installed Coal Other non
Slide 64: Energy International / Asia-Pacific
ENERGY INTERNATIONAL / ASIA-PACIFIC BUSINESS APPENDICES EBITDA 2015 vs 2014 Lower performance in Thailand In €m Lower dispatch and impact of reduced capacity charge at Glow IPP (75) Lower availability due to maintenance at Gheco 1 +91 0 (82) Impact of drop in oil price at PTT NGD (time lag bet
Slide 65: Asia-Pacific: generation capacity and production
ENERGY INTERNATIONAL / ASIA-PACIFIC Generation capacity and production as of 12/31/2015, at 100% BUSINESS APPENDICES BREAKDOWN OF GENERATION CAPACITY BREAKDOWN OF ELECTRICITY OUTPUT 4% <1% Natural gas Hydro 36% Wind 46% 12.0 GW 48% Biomass & biogas 60.8 TWh installed Coal Other non-renewable 1% 63%
Slide 66: Energy International / North America
ENERGY INTERNATIONAL / NORTH AMERICA BUSINESS APPENDICES EBITDA 2015 vs 2014 Generation In €m Lower generation performance, which benefitted from (121) +139 (31) (157) one-off items in 2014 Weaker peak spark spreads and weak hydro flows in +4 751 NEPOOL partly offset by high generation and posit
Slide 67: North America: generation capacity and production
ENERGY INTERNATIONAL / NORTH AMERICA Generation capacity and production as of 12/31/2015, at 100% BUSINESS APPENDICES BREAKDOWN OF GENERATION CAPACITY BREAKDOWN OF ELECTRICITY OUTPUT 1% 7% 1% 1% 6% 2% 5% 4% Natural gas 3% 10% Hydro Wind 13.0 GW 77% Biomass & biogas 51.4 TWh 84% installed Coal Other
Slide 68: Energy International / UK-Turkey
ENERGY INTERNATIONAL / UK-TURKEY BUSINESS APPENDICES EBITDA 2015 vs 2014 UK generation & Turkey In €m At First Hydro lower contract energy prices and reduced +45 (56) balancing mechanism revenue due to outages (11) Lower energy margins due to outages and deteriorating (18) spark spreads 341 Go
Slide 69: UK-Turkey: generation capacity and production
ENERGY INTERNATIONAL / UK-TURKEY Generation capacity and production as of 12/31/2015, at 100% BUSINESS APPENDICES BREAKDOWN OF GENERATION CAPACITY BREAKDOWN OF ELECTRICITY OUTPUT 2% 1% 16% 20% Natural gas Hydro 1% Wind 1% 6.3 GW 47% Coal 20.9 TWh 67% installed Other non-renewable 11% 33% Under In MW
Slide 70: Energy International / South Asia, Middle East & Africa
ENERGY INTERNATIONAL / SOUTH ASIA, MIDDLE EAST & AFRICA BUSINESS APPENDICES EBITDA 2015 vs 2014 Positive impact of new capacity at Uch II, Tarfaya, Az In €m Zour North, Tihama and South African projects +19 Good operational performance at existing plant, +54 (20) (1) +22 particularly Meenakshi p
Slide 71: SAMEA: generation capacity and production
ENERGY INTERNATIONAL / SOUTH ASIA, MIDDLE EAST & AFRICA Generation capacity and production as of 12/31/2015, at 100% BUSINESS APPENDICES BREAKDOWN OF GENERATION CAPACITY BREAKDOWN OF ELECTRICITY OUTPUT 1% 1% 1% 1% 1% Natural gas Wind Coal 96% 27.9 GW 149.6 TWh 98% Other non-renewable installed Under
Slide 72: Energy Europe
ENERGY EUROPE
Slide 73: Energy Europe
ENERGY EUROPE Nuclear outages, power price effects and depressed LNG activity, partially compensated by weather, downstream power margins, gas contracts renegotiations and Perform 2015 BUSINESS APPENDICES EBITDA 2015 vs 2014 Very warm climate in Europe in 2014 vs slightly warm in In €m 2015 +151 C
Slide 74: Outright power generation in Europe
OUTRIGHT POWER GENERATION IN EUROPE Nuclear & Hydro BUSINESS APPENDICES CWE outright: forward prices and hedges €/MWh 3-year rolling hedging policy 65 60 55 Hedges: prices & volumes €52/MWh In €/MWh 50 €47/MWh 52 47 45 100% €42/MWh 42 100% 41 39 39 40 €39/MWh 100% 90% 65% 33% 35 Forward outright pri
Slide 75: Nuclear capacity
NUCLEAR CAPACITY As of 12/31/2015 BUSINESS APPENDICES ENGIE: 6.2 GW(1) in Belgium, France and Germany BELGIAN OPERATED CAPACITY by owner(1) In Belgium, ENGIE operates 5.9 GW through 7 units (to reach 40/50-year lifetime between 2022 and 2025) 0.6 0.5 0.5 1.2 0.5 6.2 GW 5.9 GW net capacity 4.4 4.4 op
Slide 76: Energy Europe: generation capacity and production
ENERGY EUROPE Generation capacity and production as of 12/31/2015 at 100% BUSINESS APPENDICES BREAKDOWN OF GENERATION CAPACITY BREAKDOWN OF ELECTRICITY OUTPUT 83% low CO2 emissions 22% renewables 4% 3% 14% Natural gas 19% Hydro 2% 35% Wind 40.2 GW 43% Nuclear 3% 130.1 TWh 15% installed Other renewab
Slide 77: Central Western Europe: generation capacity and production
ENERGY EUROPE / CENTRAL WESTERN EUROPE Generation capacity and production as of 12/31/2015 at 100% BUSINESS APPENDICES BREAKDOWN OF GENERATION CAPACITY BREAKDOWN OF ELECTRICITY OUTPUT 83% low CO2 emissions 24% renewables 6% 5% 11% Natural gas 15% 25% 30% 1% Hydro Wind 2% 26.1 GW Nuclear 92.1 TWh ins
Slide 78: Southern & Eastern Europe: generation capacity and production
ENERGY EUROPE / SOUTHERN & EASTERN EUROPE Generation capacity and production as of 12/31/2015 at 100% BUSINESS APPENDICES BREAKDOWN OF GENERATION CAPACITY BREAKDOWN OF ELECTRICITY OUTPUT 83% low CO2 emissions 13% renewables 18% Coal 28% Natural gas 2% Hydro 9% 14.0 GW Wind 38.0 TWh 57% 69% installed
Slide 79: Strong reaction to tough environment
STRONG REACTION TO TOUGH ENVIRONMENT Pursuing a disciplined generation fleet review BUSINESS APPENDICES ~23 GW REVIEWED SINCE 2009 BEE thermal capacity end December 2015 TOTAL Implementation date 2009-2013 2014 FY 2015 2016-Later SINCE 2009 Durably cash negative Close* 7.4 GW 1.7 GW 0.7 GW 0.5 GW
Slide 80: Breakdown of electricity and gas sales as of December 2015
ENERGY EUROPE Breakdown of electricity and gas sales as of December 2015 BUSINESS APPENDICES Contracts(1) (Million) Sales to final customers(2) (TWh) Electricity Gas Services Electricity Gas TOTAL EUROPE 6.1 12.7 2.6 107.1 309.0 of which France 2.8 8.6 1.9 31.5 174.1 of which Belgium 2.7 1.4 - 42.6
Slide 81: Electricity & gas sales by customer segment in France
ENERGY EUROPE Electricity & gas sales by customer segment in France BUSINESS APPENDICES B2B & GIANTS (TWh) Gas at average climate(1,2) Electricity 164.5 145.9 21.1 19.3 61.5 115.2 16.4 56.0 13,2 9.6 76.1 9.2 41.3 9.0 Giants 24.0 103.0 89.9 13.2 11.5 B2B 73.9 7.4 10.1 52.1 2012 2013 2014 2015 2012 (3
Slide 82: Residential & small business customers portfolio in France
ENERGY EUROPE Residential & small business customers portfolio in France BUSINESS APPENDICES GAS ELECTRICITY Household (Millions of contracts) Household & small business (Thousands of contracts) 0.6 0.1 0.3 0.5 0.7 0.7 0.9 1.0 141 1.1 1.2 1.3 1.4 1.6 1.8 1.9 2.1 118 101 90 88 86 86 86 10.2 10.0 9.9
Slide 83: Electricity & gas sales by customer segment in Belgium
ENERGY EUROPE Electricity & gas sales by customer segment in Belgium BUSINESS APPENDICES B2B & GIANTS (TWh) Gas Electricity 30.6 33.5 30.9 29.5 29.5 29.3 24.1 23.2 13.0 18.9 16.3 16.4 16.2 15.8 12.0 9.7 Giants B2B 17.6 14.6 14.6 13.1 12.1 13.5 13.3 13.5 2012 2013 2014 2015 2012 2013 2014 2015 Decr
Slide 84: Global Gas & LNG
GLOBAL GAS & LNG
Slide 85: Global Gas & LNG
GLOBAL GAS & LNG Difficult market conditions in E&P and LNG BUSINESS APPENDICES EBITDA 2015 vs 2014 E&P In €m Adverse 2015 market prices (mostly Brent) +106 (2) (681) Partly offset by higher production (ramp ups of Gudrun, Amstel & Juliet) and hedge impacts +82 +59 LNG Supply disruptions (Egyp
Slide 86: Geographic breakdown of oil and gas production
GLOBAL GAS & LNG Geographic breakdown of oil and gas production BUSINESS APPENDICES Geographic breakdown Geographic breakdown SALES PORTFOLIO of 2P RESERVES of PRODUCTION breakdown as of 12/31/2015 as of 12/31/2015 (% production) as of 12/31/2015 3% 13% 11% 30% 25% 38% 58% 699 Mboe 59 Mboe 76% gas 6
Slide 87: Cameron LNG project in the US
CAMERON LNG PROJECT IN THE US BUSINESS APPENDICES PROJECT DESCRIPTION 12 mtpa liquefaction capacity, gas supplied from Henry Hub ENGIE ― 4 mtpa tolling contract ― JV with Sempra Energy, Mitsubishi and Mitsui for development, building and financing ― Equity share: 16.6% Total project costs: ~$1
Slide 88: Cygnus project in the UK
CYGNUS PROJECT IN THE UK BUSINESS APPENDICES PROJECT DESCRIPTION Key achievement: successful 2015 offshore campaign with 10 heavy lifts Largest discovery in southern gas basin in the last 25 years - 6th largest gas field in the UK by remaining reserves (43 Mboe net ENGIE, 111 Mboe 100%) Equity
Slide 89: Infrastructures
INFRASTRUCTURES
Slide 90: Infrastructures
INFRASTRUCTURES Strong resilience to less negative weather impact supported by operational performance BUSINESS APPENDICES EBITDA 2015 vs 2014 In €m A less negative weather impact than 2014 in distribution +142 (6) 0 (28) Annual revision of tariffs for distribution (+3.93%), transmission (+2.5%)
Slide 91: Infrastructures: secured cash flows, visibility and steady growth
INFRASTRUCTURES Secured cash flows, visibility and steady growth BUSINESS APPENDICES 2015 EBITDA BREAKDOWN 2015 CAPEX BREAKDOWN €206m €113m €459m €130m €3,402m(1) €1,646m €1,534m(2) €744m €1,076m €563m Distribution France Transmission Storage LNG terminals (1) Others: €16m (2) Others: €(17)m FY 2015
Slide 92: Infrastructures: secured revenues, visibility and steady growth
INFRASTRUCTURES Secured revenues, visibility and steady growth BUSINESS APPENDICES STABLE FRAMEWORK WITH INCENTIVES VISIBILITY & STEADY GROWTH Long regulation period: Average RAB 4 years with a yearly update: ― 2015 €23.3bn ― Distribution +3.93% from July 1st, 2015 ― 2014 €23.0bn ― Transmission
Slide 93: Regulation in France
INFRASTRUCTURES Regulation in France BUSINESS APPENDICES Investments (in €m) Average 2015 Period of RAB remuneration regulated asset regulation 2014 2015 (real pre-tax) Type of tariff base (in €bn) 6.0% 7/1/2012- Tariff N+1: DISTRIBUTION 7/1/2016 717 747 + incentives of 200bps Inflation +0.2% + k(1)
Slide 94: New project in gas distribution: smart metering
NEW PROJECT IN THE GAS DISTRIBUTION BUSINESS “SMART METERING” BUSINESS APPENDICES Gazpar will allow better billing based on actual data as well as first steps towards demand side management OBJECTIVES Improve billing quality and client satisfaction Develop Energy Management Optimize the distri
Slide 95: Energy Services
ENERGY SERVICES
Slide 96: Energy Services
ENERGY SERVICES Growing results driven by acquisitions and activities in France BUSINESS APPENDICES EBITDA 2015 vs 2014 Climate conditions closer to seasonal averages vs In €m previous year 2014 acquisitions: international, Tractebel Engineering +47 +9 +24 +5 +1 +15 Services and Installations
Slide 97: Energy Services: 2015 revenues breakdown
ENERGY SERVICES 2015 revenues breakdown BUSINESS APPENDICES BY GEOGRAPHIC AREA BY ACTIVITY 7% 4% 25% €16.0bn 49% 38% €16.0bn 58% o/w 56% Maintenance 25% District Energy 19% Integration 19% France Services Benelux Installations Other Europe Engineering International outside Europe FY 2015 RESULTS 97
Slide 98: Strengthening leadership in Europe and creating strong local position abroad
ENERGY SERVICES Strengthening leadership in Europe and creating strong local position abroad BUSINESS APPENDICES SELECTIVE ACQUISITIONS/GROWTH Europe ALONG THE VALUE CHAIN United Kingdom Balfour Beatty Workplace Germany HGS Facility Management Technical services related to services cogeneration powe
Slide 99: Sustainability
SUSTAINABILITY
Slide 100: Main environmental and societal responsibility challenges
MAIN ENVIRONMENTAL AND SOCIETAL RESPONSIBILITY (ESR) CHALLENGES FACED BY ENGIE BUSINESS APPENDICES ENGIE’S MISSION STATEMENT Supply the goods and services that are essential to life, to millions of people all over the world Contribute to build a better world, combining access to energy & respect of
Slide 101: A unique positioning to embrace the energy transition
A UNIQUE POSITIONING TO EMBRACE THE ENERGY TRANSITION BUSINESS APPENDICES A LOW CARBON ENERGY PORTFOLIO Low CO2 power generation mix & strong positions in renewables: 84% low CO2 emissions, 18% renewables(1), #1 in solar & wind energy in France, present in many countries on every continent Strategic
Slide 102: Main achievements in sustainability: 2015 in a nutshell
MAIN ACHIEVEMENTS IN SUSTAINABILITY: 2015 IN A NUTSHELL BUSINESS APPENDICES In April, ENGIE published the first Integrated Report among CAC40 companies, providing a comprehensive understanding of the Group’s value creation on the short & long term In July, ENGIE became the French leader in the solar
Slide 103: Environmental and societal last ratings and certifications
ENVIRONMENTAL AND SOCIETAL LAST RATINGS AND CERTIFICATIONS BUSINESS APPENDICES Total Score (2015) DJSI World Industry Avg. 79 Awarded the ―Silver ENGIE 49 Class Sustainability Award‖ Industry Avg. 79 Best company 81 (2015) (2014) Performance: A- / A Performance: 58/100 Disclosure: 100/100 Listed in
Slide 104: Environmental and social targets 2015 almost all achieved
ENVIRONMENTAL AND SOCIAL TARGETS 2015 ALMOST ALL ACHIEVED BUSINESS APPENDICES Fighting against 2015 Targets Fighting against 2015 Targets climate change climate change Decrease in CO2 specific -10% Health & Safety emissions vs 2012 0% (2020)(1) frequency rate 3.6 4 Selective development +50% Biodive
Slide 105: ENGIE's position on climate negotiations
ENGIE’S POSITION ON CLIMATE NEGOTIATIONS BUSINESS APPENDICES Allow growth and encourage all countries to take an equitable share of the effort Focus on generalizing carbon pricing, mainly through carbon markets. Visibility is key to drive the energy transition Implement comparable computation method
Slide 106: A strong momentum in favor of carbon pricing
A STRONG MOMENTUM IN FAVOR OF CARBON PRICING BUSINESS APPENDICES 40 COUNTRIES, 20 REGIONS HAVE A PRICING REGULATION Covers 12% of World emissions THE MAGRITTE EUROPEAN POWER UTILITIES COALITION Call for a stronger price signal in the EU ETS ENGIE IS PART OF THE HIGH LEVEL CARBON PRICING PANEL CONSTI
Slide 107: Terrawatt Initiative: massive solar scale-up
TERRAWATT INITIATIVE: MASSIVE SOLAR SCALE-UP BUSINESS APPENDICES TERRAWATT INITIATIVE Global non-profit association working together with International Solar Alliance and its member states in establishing proper regulatory conditions for a massive deployment of competitive solar generation Calls for
Slide 108: Materiality matrix: a strong stakeholder dialogue process
MATERIALITY MATRIX: A STRONG STAKEHOLDER DIALOGUE PROCESS BUSINESS APPENDICES OBJECTIVES • Local acceptance • Business conduct Identify priority issues • GHG emissions according to their • Stakeholder dialogue • Reputation • Health & safety relevance both to • Facility safety ENGIE and its stakehold
Slide 109: Financial Appendices 2015 Results
FINANCIAL APPENDICES 2015 RESULTS
Slide 110: Impact of weather in France
IMPACT OF WEATHER IN FRANCE
Slide 111: FY2015 climate adjustment in France
FY2015 CLIMATE ADJUSTMENT IN FRANCE Impact on gas sales and distribution FINANCIAL APPENDICES SENSITIVITY 2015 Energy Europe - France: ~€10m EBITDA / TWh Energy Europe - France: -6.6 TWh Infrastructures - Distribution: ~€5m EBITDA / TWh Infrastructures - Distribution: -12.2 TWh COOLER Q1 Q2 Q3 Q4
Slide 112: Impact of weather in France
IMPACT OF WEATHER IN FRANCE FINANCIAL APPENDICES EBITDA Net income(1) Estimates, in €m 2014 2015 ∆15/14 2014 2015 ∆15/14 Energy Europe – France -217 -66 +151 -135 -41 +94 Gas sales Infrastructures -160 -61 +99 -99 -38 +61 Distribution Total weather adjustment -377 -127 +250 -234 -79 +155 (1) Impact
Slide 113: Change in number of shares, scope & forex
CHANGE IN NUMBER OF SHARES, SCOPE & FOREX
Slide 114: Change in number of shares
CHANGE IN NUMBER OF SHARES FINANCIAL APPENDICES Existing shares at 12/31/2014 2,435,285,011 Capital increase - Existing shares at 12/31/2015 2,435,285,011 Average number of shares(1) 2,392 millions Recurring EPS as at 12/31/2015 €1.08 vs €1.15 in 2014 Recurring EPS post hybrids coupons as at 12/31/2
Slide 115: Main changes in consolidation scope
MAIN CHANGES IN CONSOLIDATION SCOPE FINANCIAL APPENDICES ACQUISITIONS DISPOSALS Ecova – USA (Energy Services) ISAB Energy – Italy (Energy International) Full consolidation since 6/30/2014 Equity consolidation (49%) until 6/16/2014 Lahmayer – Germany (Energy Services) Panama – Costa Rica (Energy Inte
Slide 116: Impact of foreign exchange evolution
IMPACT OF FOREIGN EXCHANGE EVOLUTION FINANCIAL APPENDICES In €m Δ 15/14 GBP USD BRL THB Others TOTAL REVENUES +430 +1,758 -348 +136 -7 +1,969 EBITDA +48 +416 -131 +34 -68 +299 COI after share in net income of entities +11 +322 -104 +23 -38 +214 accounted for using the equity method TOTAL NET DEBT +8
Slide 117: 2015 EBITDA / COI breakdown by currency
2015 EBITDA / COI BREAKDOWN BY CURRENCY FINANCIAL APPENDICES EBITDA 2015 FX vs. EUR COI(1) 2015 Amount in EUR after translation (average rate) Average 2015 Amount in EUR after translation (average rate) Other THB/EUR Other 0.63 0.19 0.45 0.28 0.026 0.14 0.23 0.12 0.30 AUD/EUR BRL BRL 0.68 0.67 0.82
Slide 118: Balance sheet, P/L & cash flow statement
BALANCE SHEET, P/L & CASH FLOW STATEMENT
Slide 119: Summary statements of financial position
SUMMARY STATEMENTS OF FINANCIAL POSITION FINANCIAL APPENDICES In €bn ASSETS 12/31/2014(1) 12/31/2015 LIABILITIES 12/31/2014(1) 12/31/2015 Equity, Group share 49.5 43.1 NON CURRENT ASSETS 110.0 101.2 Non-controlling interests 6.4 5.7 CURRENT ASSETS 55.3 59.5 TOTAL EQUITY 56.0 48.8 of which financial
Slide 120: Details of some assets and provisions
DETAILS OF SOME ASSETS AND PROVISIONS FINANCIAL APPENDICES DETAILS OF SOME ASSETS AS OF 12/31/2015 PROVISIONS AS OF 12/31/2015 Others Available for €2.3bn sale securities Pensions €3.0bn €5.8bn Dismantling Total provisions €4.5bn €18.8bn • Receivables under 1.0 Investments Loans & finance leases in
Slide 121: Summary income statement
SUMMARY INCOME STATEMENT FINANCIAL APPENDICES In €m 2014(1) 2015 REVENUES 74,686 69,883 Purchases -44,160 -39,308 Personnel costs -9,779 -10,168 Amortization depreciation and provisions -4,797 -5,007 Other operating incomes and expenses -9,235 -9,546 Share in net income of entities accounted for usi
Slide 122: Summary recurring income statement
SUMMARY RECURRING INCOME STATEMENT FINANCIAL APPENDICES In €m 2014(1) 2015 EBITDA 12,133 11,262 of which share in net income of entities accounted for using the equity method 441 473 Depreciation Amortization and others -4,977 -4,936 CURRENT OPERATING INCOME 7,156 6,326 after share in net income of
Slide 123: Cash flow statement
CASH FLOW STATEMENT FINANCIAL APPENDICES In €m 2014(1) 2015 Gross cash flow before financial loss and income tax 11,771 10,942 Income tax paid (excl. income tax paid on disposals) -1,805 -1,722 Change in operating working capital -1,216 1,163 CASH FLOW FROM OPERATING ACTIVITIES 8,751 10,383 Net tang
Slide 124: Profit & Loss details
PROFIT & LOSS DETAILS
Slide 125: Breakdown of revenues
BREAKDOWN OF REVENUES FINANCIAL APPENDICES In €m 2014(1) 2015 ∆ 15/14 ∆ Organic ENERGY INTERNATIONAL 13,977 14,534 +4.0% -3.8% of which Latin America 3,818 3,683 -3.5% +3.5% of which Asia-Pacific 2,740 2,684 -2.0% -10.6% of which North America 3,782 4,450 +17.6% -0.0% of which UK-Turkey 2,957 2,872
Slide 126: Breakdown of revenues by business line
BREAKDOWN OF REVENUES BY BUSINESS LINE FINANCIAL APPENDICES 23% - €16.0bn 21% - €14.5bn Energy Services Energy International 4% - €3.1bn Infrastructures(1) €69.9bn 6% - €4.2bn Global Gas & LNG(2) 46% - €32.0bn Energy Europe (1) Total revenues, including inter-companies, amount to €6.6bn (2) Total re
Slide 127: Revenues by geographic region by destination
REVENUES BY GEOGRAPHIC REGION BY DESTINATION FINANCIAL APPENDICES In €m 2014(1) 2015 ∆ 15/14 France 27,834 25,066 -9.9% Belgium 8,525 9,067 +6.4% SUB-TOTAL FRANCE-BELGIUM 36,359 34,133 -6.1% Other EU countries 20,516 18,507 -9.8% of which Italy 4,883 3,892 -20.3% of which UK 5,052 4,633 -8.3% of whi
Slide 128: Breakdown of EBITDA
BREAKDOWN OF EBITDA FINANCIAL APPENDICES In €m 2014(1) 2015 ∆ 15/14 ∆ Organic ENERGY INTERNATIONAL(2) 3,716 3,589 -3.4% -6.8% of which Latin America 1,343 1,439 +7.1% +12.3% of which Asia-Pacific 857 803 -6.2% -15.3% of which North America 956 751 -21.5% -23.0% of which UK-Turkey 380 341 -10.0% -17.
Slide 129: 2015 EBITDA breakdown
2015 EBITDA BREAKDOWN FINANCIAL APPENDICES RESILIENT BUSINESS PORTFOLIO ~70% ~30% CONTRACTED/REGULATED MERCHANT Infrastructures with guaranteed 23% returns Power generation in Continental Europe, Gas storage in France (baseload UK, North America, 16% contribution) and long term contracts 14% in Germ
Slide 130: EBITDA evolution
EBITDA EVOLUTION FINANCIAL APPENDICES in €bn +0.3 (0.1) 12.1 +0.25 +0.1 (0.4) (0.5) (0.7) WEATHER FX SCOPE ENERGY +0.1 11.3 OUT INTERNATIONAL +0.0 ENERGY FAST MATURE EUROPE GROWING MARKETS GLOBAL INFRA- ENERGY 2015 2014 MARKETS EBITDA(2) GAS & LNG STRUCTURES SERVICES EBITDA(1,2) Including ~(1.5) com
Slide 131: Breakdown of 2015 EBITDA
BREAKDOWN OF 2015 EBITDA FINANCIAL APPENDICES GEOGRAPHIC BREAKDOWN(1) BREAKDOWN BY BUSINESS LINE(2) 13% 11% - €1.2bn Latin America Energy Services 32% - €3.6bn Energy International 7% North America 12% 38% 30% - €3.4bn Rest of the world €11.3bn France Infrastructures €11.3bn 24% Other Europe Netherl
Slide 132: Breakdown of share in net income of entities accounted for using equity method
BREAKDOWN OF SHARE IN NET INCOME OF ENTITIES ACCOUNTED FOR USING EQUITY METHOD FINANCIAL APPENDICES In €m 2014(1) 2015 ENERGY INTERNATIONAL 204 310 of which Latin America -165 -76 of which Asia-Pacific 89 89 of which North America 136 89 of which UK-Turkey 18 20 of which South Asia, Middle East & Af
Slide 133: Breakdown of provisions included in EBITDA
BREAKDOWN OF PROVISIONS INCLUDED IN EBITDA FINANCIAL APPENDICES In €m 2014(1) 2015 ENERGY INTERNATIONAL 45 -19 of which Latin America 13 -14 of which Asia-Pacific -23 -20 of which North America -2 -40 of which UK-Turkey 12 41 of which South Asia, Middle East & Africa 9 -5 ENERGY EUROPE 60 -96 of whi
Slide 134: Breakdown of current operating income
BREAKDOWN OF CURRENT OPERATING INCOME After share in net income of entities accounted for using the equity method FINANCIAL APPENDICES In €m 2014(1) 2015 ∆ 15/14 ∆ Organic ENERGY INTERNATIONAL(2) 2,745 2,596 -5.4% -7.9% of which Latin America 982 1,084 +10.4% +16.1% of which Asia-Pacific 638 585 -8.
Slide 135: Divisional reconciliation between EBITDA and COI
DIVISIONAL RECONCILIATION BETWEEN EBITDA AND COI After share in net income of entities accounted for using the equity method FINANCIAL APPENDICES Energy Energy Global Gas Energy In €m International Europe & LNG Infrastructures Services Others 2015 EBITDA 3,589 1,612 1,625 3,402 1,227 -194 11,262 Dep
Slide 136: Divisional reconciliation between EBITDA and COI: Energy International
DIVISIONAL RECONCILIATION BETWEEN EBITDA AND COI After share in net income of entities accounted for using the equity method Energy International details FINANCIAL APPENDICES South Asia, 2015(1) Latin North Middle East Energy In €m America Asia-Pacific America UK-Turkey & Africa International EBITDA
Slide 137: Divisional reconciliation between EBITDA and COI: Energy Europe
DIVISIONAL RECONCILIATION BETWEEN EBITDA AND COI After share in net income of entities accounted for using the equity method Energy Europe details FINANCIAL APPENDICES Central Western Europe Southern of which of which Benelux & Eastern 2015(1) Total In €m France & Germany Europe Energy Europe EBITDA
Slide 138: From COI to net income Group share
FROM COI AFTER SHARE IN NET INCOME OF ENTITIES ACCOUNTED FOR USING THE EQUITY METHOD TO NET INCOME GROUP SHARE FINANCIAL APPENDICES In €m 2014(1) 2015 COI after share in net income 7,156 6,326 of entities accounted for using the equity method MtM -298 -261 Impairment -1,037 -8,748 Restructuring cost
Slide 139: Breakdown of non-controlling interests
BREAKDOWN OF NON-CONTROLLING INTERESTS FINANCIAL APPENDICES In €m 2014(1) 2015 ENERGY INTERNATIONAL 367 -80 ENERGY EUROPE 74 74 GLOBAL GAS & LNG 99 -618 INFRASTRUCTURES 106 102 ENERGY SERVICES 26 26 OTHERS -2 - Non-controlling interests 669 -496 (1) The comparative figures as of December 31st, 2014
Slide 140: Reconciliation between EBITDA and operating cash flow
RECONCILIATION BETWEEN EBITDA AND OPERATING CASH FLOW FINANCIAL APPENDICES In €m 2014 (1) 2015 EBITDA 12,133 11,262 Restructuring costs cashed out -167 -270 Provisions -280 -83 Share in net income of entities accounted for using the equity method -441 -473 Dividends and others 526 506 Cash generated
Slide 141: Net recurring income Group share
NET RECURRING INCOME GROUP SHARE FINANCIAL APPENDICES In €m 2014(1) 2015 NET INCOME GROUP SHARE 2,437 -4,617 MtM commodities 298 261 Impairment 1,037 8,748 Restructuring costs 167 265 Asset disposals & others -915 294 Financial result (non-recurring items) 448 232 Share in net income of entities acc
Slide 142: Tax position
TAX POSITION FINANCIAL APPENDICES In €m 2014(1) 2015 Consolidated income before tax and share 4,251 -5,261 in entities accounted for using the equity method Consolidated income tax 1,586 324 Effective tax rate 37.3% -6.2% Recurrent effective tax rate 42.5% 39.0% (1) The comparative figures as of Dec
Slide 143: Cash flow details
CASH FLOW DETAILS
Slide 144: From EBITDA to free cash flow
FROM EBITDA TO FREE CASH FLOW FINANCIAL APPENDICES In €bn 11.3 (0.4) 10.9 (1.7) +1.2 9.8 (2.6) RESTRUCTURING & OTHERS (0.5) TAX NET WCR 7.2 CASH FINANCIAL EXPENSES EXPENSES MAINTENANCE CAPEX 2015 Cash generated from operations 2015 2015 EBITDA before income tax and working CFFO FREE CASH capital r
Slide 145: Free cash flow generation from 2014 to 2015
FREE CASH FLOW GENERATION FROM 2014 TO 2015 FINANCIAL APPENDICES In €bn +2.4 (0.2) 7.2 MAINTENANCE CAPEX 5.5 (0.8) +0.3 +0.1 OPERATING TAX CASH NET WCR CASH FLOW EXPENSES FINANCIAL EXPENSES 2014 2015 FCF(1) FCF (1) The comparative figures as of December 31st, 2014 were restated post IFRIC
Slide 146: Breakdown of investments
BREAKDOWN OF INVESTMENTS FINANCIAL APPENDICES In €m Maintenance Development Financial 2015 ENERGY INTERNATIONAL(1) 578 1,104 11 1,693 of which Latin America 138 783 103 1,024 of which Asia-Pacific 121 49 -14 156 of which North America 208 122 5 335 of which UK - Turkey 102 18 0 120 of which South As
Slide 147: Detail of 2015 total gross capex
DETAIL OF 2015 TOTAL GROSS CAPEX FINANCIAL APPENDICES €7.2bn Financial 0.8 Enersur (Peru) €0.31bn Cygnus (UK) €0.33bn GRTgaz (France) €0.27bn Development 3.8 E-CL (Chile) €0.28bn Jangkrik (Indonesia) €0.28bn GrDF (France) €0.26bn TBLE (Brazil) €0.19bn Other investments ≤€0.15bn each
Slide 148: Credit
CREDIT
Slide 149: "A" category rating
“A” CATEGORY RATING FINANCIAL APPENDICES CREDIT RATINGS as of December 31, 2015 S&P Moody's AA- Aa3 ENGIE (negative) A+ EDF (negative) A1 EDF (negative) A ENGIE (stable) A2 A- A3 E.ON (negative) BBB+ E.ON (stable) Baa1 IBERDROLA (stable) ENEL (positive) ENEL (stable) BBB IBERDROLA (positive) Baa2 Ga
Slide 150: Split of gross debt
SPLIT OF GROSS DEBT(1) FINANCIAL APPENDICES 6.5 Bank borrowings 0.4 Other borrowings 0.6 Leasing €36.9bn 24.0 Bonds 0.1 Drawn credit lines 5.4 BT/CP AVERAGE COST OF GROSS DEBT: 2.99% vs 3.14% as of 12/31/2014 (1) Without IAS 39 (+€2.0bn) and bank overdraft (+€0.6bn) FY 2015 RESULTS 150
Slide 151: Debt maturity profile
DEBT MATURITY PROFILE(1) Bonds Bank borrowings FINANCIAL APPENDICES TOTAL GROSS DEBT(2) €36.9bn Other 0.3 2.1 8.6 Undrawn credit lines(1) €18bn 13.5 0.4 9.4 0.2 Cash(3) 1.0 0.0 1.7 0.1 0.7 2.1 3.3 0.6 0.1 1.7 0.3 2.5 0.9 12/31/2015 2016 2017 2018 2019 2020 2021 and beyond Liquidity AVERAGE NET DEBT
Slide 152: Net debt breakdown by rate and currency
NET DEBT BREAKDOWN BY RATE AND CURRENCY FINANCIAL APPENDICES 3% Others 3% AUD 83% Fixed rates 3% THB 7% GBP 67% €27.7bn €27.7bn EUR 17% USD 4% Capped rates 13% Floating rates FY 2015 RESULTS 152
Slide 153: Disclaimer
Disclaimer BUSINESS APPENDICES Forward-Looking statements This communication contains forward-looking information and statements. These statements include financial projections, synergies, cost-savings and estimates, statements regarding plans, objectives, savings, expectations and benefits from the
Slide 154: ADR Program
ADR PROGRAM American Deposit Receipt BUSINESS APPENDICES Symbol (as from July 31st, 2015) ENGIY CUSIP 36160B105 Platform OTC Type of programme Level 1 sponsored ADR ratio 1:1 Depositary bank Citibank, NA FOR MORE INFORMATION, GO TO http://www.citi.com/dr FY 2015 RESULTS 154
Slide 155: For more information about ENGIE
FOR MORE INFORMATION ABOUT ENGIE BUSINESS APPENDICES Ticker: ENGI +33 1 44 22 66 29 ir@engie.com http://www.engie.com/en/investors-area/ Download the new ENGIE Investor relations app! FOR MORE INFORMATION ABOUT FY 2015 RESULTS, YOU WILL FIND ON http://www.engie.com/en/investors/results/results-2015/