Slide 1: 1st Quarter Results
Al Hidd ,Bahrain 2012 1ST QUARTER RESULTS Dunamenti, Hongrie, CCGT Laja, Chile 2011 RÉSULTATS ANNUELS April 23, 2012 9 février 2012
Slide 2: Solid Q1 performance on track to achieve 2012 guidance
Solid Q1 performance on track to achieve 2012 guidance Δ Δ In €bn Q1 2012 Q1 2011 gross organic REVENUES 28.2 25.5 +10.5% +8.4% EBITDA 5.8 5.5 +5.7% +4.1% NET DEBT 37.1 37.6 -€0.5bn As of end 2011 • Completion of the €500m share buy-back program announced in September 2011 Q1 2012 Results – April 23
Slide 3: Major milestones
Major milestones IPR Integration: a new strategic phase to capture full potential of fast growing countries New organization of European activities with Energy Europe Business Line ■ BAHRAIN: commercial operation of Al Dur plant (1,234MW) ■ KUWAIT: preferred bidder on Az Zour project (1,500MW) ■ SAU
Slide 4: Shareholder General Meeting highlights
Shareholder General Meeting highlights • Attractive dividend policy confirmed: 2011 dividend of €1.50 per share approved • Scrip dividend option designed to optimize financing of the IPR transaction: ‒ for the final dividend (€0.67 per share) for 2011 between April 25 and May 11, 2012 (ex-date: Apri
Slide 5: Organic growth in revenues coming from all business lines
Organic growth in revenues coming from all business lines TOTAL GROWTH: + €2,671m (+10.5%) ORGANIC GROWTH : + €2,134m (+8.4%) +6.6% +2.2% +42.8% +69.8% +8.3% +244 +77 28,155 +166 +545 ENVIRON- TOTAL GROWTH +14.4% ENERGY +1,113 INFRA- SERVICES MENT STRUCTURES GLOBAL GAS & LNG +525 25,484 ENERGY EUROP
Slide 6: Q1 2012 business trends
Q1 2012 business trends • New assets contribution (Estreito, CTA & CTH, Shuweihat 2, Al Dur, Glow phase V) • Latin America: higher spot prices achieved in Brazil • North America: lower gas prices offset by gas contract settlement in Mexico • UK-Europe: overall weak market conditions in the UK, impro
Slide 7: Net debt decrease
Net debt decrease In €bn 37.6 (0.1) 37.1 DISPOSALS (2.1) +1.6 +0.2 GROWTH CAPEX FREE CASH FLOW OTHER o/w Maintenance capex 0.7 NET DEBT / EBITDA RATIO 2.2x(1) NET DEBT 12/31/11 NET DEBT 3/31/12 (1) Based on last 12 month EBITDA Q1 2012 Results – April 23, 2012 7
Slide 8: 2012 financial targets enhanced, post impact of IPR minorities acquisition
2012 financial targets(1) enhanced, post impact of IPR minorities acquisition BEFORE AFTER NET RECURRING INCOME €3.5–4.0bn €3.7-4.2bn(2) GROUP SHARE Average weather, stable regulation Average weather, stable regulation INDICATIVE 2012 EBITDA ~ €17bn including Efficio performance plan for ~€600m GROS
Slide 9: Delivering continuous growth and reinforcing strategic ambition
Delivering continuous growth and reinforcing strategic ambition • Q1 results: solid performance on track to achieve 2012 guidance • Increased presence in fast growing markets with 40-50% of growth capex in the medium term through the full acquisition of IPR • Strong financial structure • 2012 Net re
Slide 10: Disclaimer
Disclaimer 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 transactions and ex