El5-Ener · RUS:ELFV
El5-Ener — Enel OGK-5 — Q1 2013 Earnings Presentation
13 slides from El5-Ener's earnings presentation, Apr 29, 2013
Slide 1: Enel OGK-5 1Q 2013 Results
Enel OGK-5 1Q 2013 Results Moscow, 29 April 2013
Slide 2: Agenda
Enel OGK 5 Enel OGK-5 1Q 2013 Results Investor Relations Agenda • Financial Highlights • Power Generation and Sales • Unit Margin on Sales • Focus on CCGTs • 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 2013 Results Investor Relations Financial Highlights (Mn RUR)1 1Q 2012 1Q 2013 % Revenues 17,379 17,707 +2 EBITDA 4,067 4,857 +19 EBITDA margin (%) 23 27 Net Income 2,011 1,980 -2 Net Debt 24,9682 25,045 - EBITDA/Net financial expenses3 8.0 8.3 Net Debt/EBITDA4 1.8 1.6 Net D
Slide 4: Power Output and Sales
Enel OGK 5 Enel OGK-5 1Q 2013 Results Investor Relations Power Output and Sales Net Output (TWh) Power Sales (TWh) -10% -9% 12.1 10.9 13.6 11% CCGT 12.4 14% Unregulated Coal 45% 47% 84% 83% Regulated Gas 44% 39% 16% 17% 1Q12 1Q13 1Q12 1Q13 Plant availability Utilization on total capacity 88% 88% 61%
Slide 5: Unit Margin on Sales (RUR/MWh)
Enel OGK 5 Enel OGK-5 1Q 2013 Results Investor Relations Unit Margin on Sales (RUR/MWh)1 Unit Price +8% Unit Margin on Sales 870 936 +19% 180 1Q12 1Q13 152 Unit Cost of Sales2 1Q12 1Q13 +5% 718 755 1Q12 1Q13 Better unit margins based on coal dynamics and better CCGT operations 1 Excluding capacity p
Slide 6: Focus on CCGTs
Enel OGK 5 Enel OGK-5 1Q 2013 Results Investor Relations Focus on CCGTs Net Output (TWh) 1.5 1.3 1Q 2013 Spreads (RUR/MWh)1 264 1Q12 1Q13 39 1Q 2013 utilization on total capacity Conventional CCGTs 89% gas units 41% Conventional CCGTs gas units 1 Calculated as average DAM selling price of Enel OGK-5
Slide 7: Revenues and costs (Bn RUR)
Enel OGK 5 Enel OGK-5 1Q 2013 Results Investor Relations Revenues and costs (Bn RUR) Operating revenue breakdown Variable costs 10.8 10.4 17.7 17.4 1.3 1.2 1.3 1.5 Fuel 9.5 9.2 Purchased power 4.2 4.7 Power 1Q12 1 1Q13 2 Capacity Heat and other 11.8 11.5 Fixed costs 2.5 2.5 0.1 0.1 O&M manageable 1.
Slide 8: EBITDA evolution (Mn RUR)
Enel OGK 5 Enel OGK-5 1Q 2013 Results Investor Relations EBITDA evolution (Mn RUR) +19% +737 +54 4,857 4,067 Fixed costs and other items Generation margin 1Q 2012 1Q 2013 8
Slide 9: From EBITDA to Net Income (Mn RUR)
Enel OGK 5 Enel OGK-5 1Q 2013 Results Investor Relations From EBITDA to Net Income (Mn RUR) 1Q 2012 1Q 2013 % EBITDA 4,067 4,857 +19 Depreciation and amortisation1 (1,251) (1,702) +36 EBIT 2,815 3,155 +12 Net Financial Charges2 (275) (705) +157 Share of result of associates - - n.a. EBT 2,541 2,450
Slide 10: Net Debt Evolution
Enel OGK 5 Enel OGK-5 1Q 2013 Results Investor Relations Net Debt Evolution Net Debt (Mn RUR) Hedged Debt on Total Debt +77 8% 17% Unhedged 83% 92% Hedged 24,968 -3,469 +3,641 -207 +112 25,045 31Dec12 31Mar13 FX Net financial charges Cash flow from Capex Average Cost of Debt operations post working
Slide 11: Focus on Liquidity
Enel OGK 5 Enel OGK-5 1Q 2013 Results Investor Relations Focus on Liquidity Available credit facilities (Bn RUR)1 Utilized amount (%) +1.4 63% 61% Enel OGK-5 credit rating 50.2 update 48.8 15/04: Moody’s upgrades 75% 83% Enel OGK-5’s credit rating outlook from ‘stable’ to ‘positive’, 17% rating conf
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.ogk-5.com (Investor Relations) 13