Slide 1: 2016 Nine months results
Klaus Schäfer, CEO Christopher Delbrück, CFO 2016 Nine months results 22 November 2016
Slide 2: Agenda
Agenda I Klaus Schäfer, Highlights & key messages CEO II Christopher Delbrück, Financial performance & CFO nine months results Uniper SE Presentation 9M 2016 22 November 2016 2
Slide 3: Highlights of the third quarter 2016
Highlights of the third quarter 2016 Listing – good start A good start with lively interest from investors accross all key financial centers Action plan – progressing Cost cutting targets and timeline of Voyager program defined Earnings – solid Solid operating result in the first nine months with th
Slide 4: Uniper well-received in the capital markets
Uniper well-received in the capital markets Share price and trading volumes Stock market topics 30 Performance in % 25 Uniper MDAX Successful listing 20 15 Technical stock overhang absorbed 10 5 Outperforming DAX and MDAX in the first two 0 months of trading -5 12. Sep 26. Sep 10. Okt 24. Okt 07
Slide 5: Mixed picture in terms of commodity and FX
Mixed picture in terms of commodity and FX1 GER Baseload power 2018 GER CDS, CSS 2017 Gas Europe Summer / 35 EUR/MWh USD/ton 75 10 EUR/MWh Winter spreads EUR/MWh 2,5 30 2,0 60 0 1,5 25 1,0 45 -10 20 Baseload Dark spread 0,5 Spark spread NCG Summer/ Winter Spread Coal (API2) 15 30 -20 0,0 Jan-15 Jul-
Slide 6: Action plan progressing well
Action plan progressing well Cash Portfolio Costs Cash effective investments Disposal volume Controllable costs €0.7bn -27% >€2bn €2.3bn ~ €-0.4bn 0.2 Admin/Cons. €0.5bn 0.2 €1.9bn 0.6 International Generation Growth Global Maintenance Commodities 1.3 European Generation 9M 2015 9M 2016 2015 2018
Slide 7: Controllable costs to be reduced by €0.4bn
Controllable costs to be reduced by €0.4bn between 2015 and 2018; Voyager key contributor Cost efficiencies already Cost savings effective by 2016 effective post 2016 New set up of organization Personnel & IT costs Enhanced functional steering Major savings pools identified and clearer delineati
Slide 8: Update on some essential capacity and regulatory developments
Update on some essential capacity and regulatory developments German power station Datteln IV Russian plant Berezovskaya III Swedish nuclear and hydro tax Nuclear tax Hydro tax 100% 100% 80% 80% 60% 60% 40% 40% Hard coal plant Lignite plant 20% 20% with co-generation with damaged boiler 0% 0% 1,055
Slide 9: Agenda
Agenda I Klaus Schäfer, Highlights & key messages CEO II Christopher Delbrück, Financial performance & CFO nine months results Uniper SE Presentation 9M 2016 22 November 2016 9
Slide 10: Operationally solid 9M 2016 results
Operationally solid 9M 2016 results Highlights Adj. EBIT(DA) Operating cash flow Adj. EBIT(DA) strongly up 1.8 Driven by provision release and strong gas and power optimization results … 1.2 … more than offsetting impact from lower achieved 2,4 power prices and volumes in European Generation 1,9
Slide 11: Global Commodities drives positive 9M 2016 Group EBIT(DA) performance
Global Commodities drives positive 9M 2016 Group EBIT(DA) performance Adj. EBITDA €m 9M 2016 9M 2015 % European Generation 553 727 -23.9 Global Commodities 1,388 452 >100 International Power 53 181 -70.7 Admin / Consolidation -172 -176 - Total 1,822 1,184 +53.9 Adj. EBIT €m 9M 2016 9M 2015 % Europea
Slide 12: European Generation: Mainly impacted by lower power prices
European Generation Mainly impacted by lower power prices Adj. EBIT(DA) contribution by sub-segment 9M 2016 (€m) Background Adj. EBITDA contribution 2 Lower achieved power prices are the key driver of the lower 271 hydro and nuclear results 553 Positive volume effect at 78 nuclear partly offset
Slide 13: Global Commodities: Benefits from significant gas earnings
Global Commodities Benefits from significant gas earnings Adj. EBIT(DA) contribution by sub-segment 9M 2016 (€m)1 Background Adj. EBITDA contribution 125 76 1 Strong 9M result predominantly driven by one-off effects: Gazprom LTC agreement 1.388 1.186 triggered release of provisions built up in pri
Slide 14: International Power: Impacted by Berezovskaya incident
International Power Impacted by Berezovskaya incident Adj. EBIT(DA) contribution by sub-segment 9M 2016 (€m)1 Background Adj. EBITDA contribution Stable underlying business -6 Earnings decline in Russia exclusively due to reduction of 59 the carrying amount of 53 Berezovskaya III caused by accid
Slide 15: High EBITDA to OCF conversion due to strong working capital improvement
High EBITDA to OCF conversion due to strong working capital improvement Cash flow metrics per 30 Sep 2016 (€bn) -0 -0.2 0.1 0.2 1.9 -1.4 2.5 2.4 1.8 EBITDA Non-cash Provision Changes Payments OCFbIT Interest Tax OCF 9M 2016 effective utilization in Working related to 9M 2016 Payments Payments 9M 201
Slide 16: Cash effective investments with strong decrease based on reduced maintenance investment
Cash effective investments with strong decrease based on reduced maintenance investment Cash effective investments Cash effective investments by segment 9M 2016 (€m) 9M 2015 vs. 9M 2016 (€m) Admin/ Consolidation 697 6 International -27% Power 103 243 511 86 316 271 Global Commodities European Genera
Slide 17: Economic net debt benefits from strong OCF and disposal of Nord Stream I
Economic net debt benefits from strong OCF and disposal of Nord Stream I Economic net debt per 30 Sep 2016 (€bn) AROs1 6.7 Pension 1.0 Net financial position2 1.0 0.3 0,8 0.3 4.7 2.4 -0.3 3.7 0.5 4.9 0.5 0.9 1.3 1.5 Economic Nord Capital OCF Cash effective Pension Other effects3 Economic Pro-forma n
Slide 18: Outlook for 2016
Outlook for 2016 Outlook - EBITDA 2016 Outlook - Cash effective Proposal - Dividend 2016 investments 2016 €2.2bn - €1.9bn Dividend proposal to AGM of €200m confirmed €0.85bn - €0.75bn FY 2015 FY 2016 FY 2015 FY 2016 Uniper SE Presentation 9M 2016 22 November 2016 18
Slide 19: Appendix
Appendix Uniper SE Presentation 9M 2016 22 November 2016 19
Slide 20: Hedging outright power – Germany and Nordic
Hedging outright power – Germany and Nordic Outright position Key observations Baseload power price (€/MWh) Outright power exposure >80% >80% >80% >80% hedged above forward >80% >90% >70% >30% prices for 2016 and 2017 45 Outright power for 2018 hedged at recent forward 35 price levels Prudent
Slide 21: Key P&L items at a glance
Uniper SE and subsidiaries Key P&L items at a glance Key P&L items 9M 2016 9M 2015 Sales 47,997 65,244 Adjusted EBITDA 1,822 1,184 Economic depreciation and amortization / reversals3,4 -570 -674 Adjusted EBIT 1,252 510 Non-operating adjustments1,2, 3 -4,922 -3,894 EBIT -3,670 -3,384 Net interest inc
Slide 22: Details on non-operating adjustments
Uniper SE and subsidiaries Details on non-operating adjustments Non-operating adjustments €m 9M 2016 9M 2015 Net book gains / losses 522 - Fair value measurement of derivative financial instruments -1,310 -216 Restructuring / cost management expenses1 -316 -77 Non-operating impairment charges (+) /
Slide 23: Consolidated balance sheets (1/2)
Uniper SE and subsidiaries Consolidated balance sheets (1/2) Balance sheet of the Uniper Group - assets €m 30 Sep 2016 31 Dec 2015 Goodwill 2,637 2,555 Intangible assets 1,979 2,159 Property, plant and equipment 11,297 14,297 Companies accounted for under the equity method 789 1,136 Other financial
Slide 24: Consolidated balance sheets (2/2)
Uniper SE and subsidiaries Consolidated balance sheets (2/2) Balance sheet of the Uniper Group – equity and liabilities €m 30 Sep 2016 31 Dec 2015 Capital stock 622 - Additional paid-in capital 10,755 - Retained earnings 2,608 18,684 Accumulated other comprehensive income -3,927 -4,223 Equity attrib
Slide 25: Net financial position
Uniper SE and subsidiaries Net financial position Net financial position of the Uniper Group €m 30 Sep 2016 31 Dec 2015 Liquid funds 2,114 360 Non-current securities 153 189 Financial receivables from consolidated group companies (< 3 months) - 6,971 Financial receivables from consolidated group com
Slide 26: Consolidated statements of cash flows
Uniper SE and subsidiaries Consolidated statements of cash flows Statement of cash flows of the Uniper Group €m 9M 2016 9M 2015 Net income / loss -4,233 -3,335 Depreciation, amortization and impairment of intangibles / property, plant, equipment 3,431 5,139 Changes in provisions 87 780 Changes in de
Slide 27: Disclaimer
Disclaimer This document and the presentation to which it relates contains information relating to Uniper SE, ("Uniper" or the "Company") that must not be relied upon for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for