Naturgy Energy Group, S.a. · BME:NTGY
Naturgy Energy — FY2021 Earnings Presentation
27 slides from Naturgy Energy's earnings presentation, Feb 4, 2022
Slide 1: FY21 Results
FY21 Results 4 February 2022 1
Slide 2: Scenario, Consolidated results, Results by business unit
Scenario Consolidated results Results by business unit Summary Appendix 2
Slide 3: Scenario
Naturgy y Scenario
Slide 4: Energy demand evolution (TWh)
1. Scenario Energy demand evolution (TWh) Spain1 Panama Mexico Brazil 2% 6% 11% 53.7 50% 91.8 242.5 4.8 5.1 48.5 236.7 61.0 FY20 FY21 FY20 FY21 FY20 FY21 FY20 FY21 Spain1 Chile Argentina 5% 6% 12% 86.0 378.3 11.3 10.7 76.9 Variation FY21 vs. FY20 358.9 Electricity Gas FY20 FY21 FY20 FY21 FY20 FY21 O
Slide 5: Energy markets evolution
1. Scenario Energy markets evolution Spanish electricity market Brent (USD/bbl) NBP (USD/MMBtu) (Pool) (€/MWh) 111.9 70% 70.7 394% 15.8 229% 41.7 3.2 34.0 FY20 FY21 FY20 FY21 FY20 FY21 Henry Hub (USD/MMBtu) JKM (USD/MMBtu) CO2 (€/t) 71% 295% 115% 53.2 3.6 15.0 24.7 2.1 3.8 FY20 FY21 FY20 FY21 FY20 F
Slide 6: FX evolution
1. Scenario FX evolution Chile Brazil Argentina 0.3% 8% 12% 0.17 0.010 0.0011 0.0011 0.16 0.009 FY20 FY21 FY20 FY21 FY20 FY21 Mexico Panama 2% 3% 0.04 0.04 0.88 0.85 FY20 FY21 FY20 FY21 LatAm currencies depreciation pace moderated in 2021 6 Source: Bloomberg
Slide 7: Consolidated results
Consolidated results
Slide 8: Non-ordinary items & FX impact
2. Consolidated results Non-ordinary items & FX impact EBITDA Net income €m FY21 FY20 €m FY21 FY20 Restructuring costs (410) (197) Restructuring costs (291) (144) Regulatory fines - (1) Asset write-down (11) (1,019) Provisions reversal 6 37 Provisions reversal 4 28 Non-ordinary items Sales of land a
Slide 9: Key highlights
2. Consolidated results Key highlights Key figures (€m) Ordinary EBITDA Ordinary Net income Gradual recovery of energy demand and significant rise of commodity prices, most notably during 2H21 Regulated activities remained stable supported by 3,983 1,231 ongoing recovery of energy demand Merchant ac
Slide 10: EBITDA evolution by business unit (€m)
2. Consolidated results EBITDA evolution by business unit (€m) 495 3,983 (22) 265 3,714 30 (206) (17) 3,529 3,449 (11) (454) Including FX impact: m EBITDA Non-ordinary Ordinary Networks Networks Energy Renewables Supply Rest Ordinary Non-ordinary EBITDA FY20 items EBITDA Spain LatAm management EBITD
Slide 11: Net income evolution by business unit (€m)
2. Consolidated results Net income evolution by business unit (€m) 132 1,231 1,214 227 (17) 1,219 872 (347) Net Non-ordinary Ordinary Activity Financial result Ordinary Non-ordinary Net income items Net and others Net items income FY20 income income FY21 FY20 FY21 Net income growth mainly driven by
Slide 12: Cash flow and Net debt evolution (€m)
2. Consolidated results Cash flow and Net debt evolution (€m) Cash flow Net debt FY21 Ordinary EBITDA 3,983 (%): avg. cost of debt3 Non-ordinary items (454) EBITDA 3,529 Taxes (864) 13,612 Net interest cost (394) 12,831 186 280 (98) Other non-cash items (153) (317) (2,113) 1,281 Funds from operation
Slide 13: Shareholder remuneration FY 2021
2. Consolidated results Shareholder remuneration FY 2021 DPS (€/sh.) 1st int. 2021 2nd int. 2021 2021 final1 August-21 November-21 AGM-22 0.3 0.4 0.5 Paid Paid Proposal Total 2021 dividend: 1.20 Final dividend against 2021 to be paid in 1Q22 Note: 13 1. Subject to AGM approval
Slide 14: Results by business unit
Results by business unit
Slide 15: Networks Spain
3. Results by business unit Networks Spain EBITDA evolution by business line (€m) Highlights 89 1,627 21 9 1,657 Gas networks: growth driven by higher demand in the 1,538 1,448 industrial segment and operational improvements (209) Electricity networks: growth supported by investment and efficiencies
Slide 16: Networks LatAm
3. Results by business unit Networks LatAm EBITDA evolution by business line (€m) Highlights 834 6 840 29 829 828 Chile gas: stable results in distribution offset by margin (21) (5) (5) (9) (1) pressure in supply, due to insufficient pass-through of higher gas costs to customers -€2m -€18m €1m -€4m
Slide 17: Energy management
3. Results by business unit Energy management EBITDA evolution by business line (€m) Highlights 159 37 8 1,074 990 337 (46) Markets and procurement: higher gas prices compared to (84) 2020 92 579 487 - €10m -€10m - -€8m International LNG: supportive scenario in recent months limited by contracted sa
Slide 18: Renewables
3. Results by business unit Renewables EBITDA evolution by business line (€m) Highlights 148 488 Spain: reduction in bilateral sales price to our supply 352 10 362 12 340 business (29) (5) Australia: higher capacity offset by lower margins on - - -€2m mark-to-market of existing PPAs FX: -€2m LatAm:
Slide 19: Supply
3. Results by business unit Supply EBITDA evolution by business line (€m) Highlights 33 359 326 Gas supply: margin pressure for gas sales not reflecting rally of gas prices 153 (206) Power supply: substantially lower margins due to sales which had to be backed by buys in the pool (249) (96) EBITDA N
Slide 20: Summary
Naturgy y
Slide 21: Summary
4. Summary Summary Regulated activities remained stable supported by ongoing recovery of energy demand Energy management in international markets offset by supply activities in Spain Supply impacted by contracts with end customers not reflecting the increase of gas and electricity prices in major hu
Slide 22: Appendix
Naturgy y Appendix
Slide 23: Alternative Performance Metrics (i/ii)
Appendix Alternative Performance Metrics (i/ii) Naturgy's financial disclosures contain magnitudes and metrics drafted in accordance with International Financial Reporting Standards (IFRS) and others that are based on the Group's disclosure model, referred to as Alternative Performance Metrics (APM)
Slide 24: Alternative Performance Metrics (ii/ii)
Appendix Alternative Performance Metrics (ii/ii) Alternative performance Reconciliation of values Definition and terms Relevance of use metrics 31 December 2021 31 December 2020 Non-current financial liabilities + "Current Gross financial debt Euros 16,812 million = 15,114 + 1,698 Euros 17,539 milli
Slide 25: ESG Metrics
Appendix ESG Metrics FY21 FY20 Change Comments Health and safety Accidents with lost time1 units 8 4 100.0% Increase in accident ratio as a consequence of the exceptionally low 2020, notably in 1Q20 LT Frequency rate2 units 0.10 0.04 - Environment GHG Emissions3 M tCO2 e 13.5 15.5 -12.9% Growing ren
Slide 26: Disclaimer
Disclaimer This document is the property of Naturgy Energy Group, S.A. (Naturgy) and has been prepared for information purposes only. This communication contains forward-looking information and statements about Naturgy. Such information can include financial projections and estimates, statements reg
Slide 27: Capital Markets contact
This presentation is property of Naturgy Energy Group, S.A. Both its content and design are for the exclusive use of its personnel. ©Copyright Naturgy Energy Group, S.A. CAPITAL MARKETS Tel. 34 912 107 815 e-mail: capitalmarkets@naturgy.com website: www.naturgy.com