Enea Sa · GPW:ENA
Enea Sa — Q1 2020 Earnings Presentation
29 slides from Enea Sa's earnings presentation, Jun 19, 2020
Slide 1: ENEA Group Results in Q1 2020
ENEA Group RESULTS in Q1 2020 19 June 2020
Slide 2: ENEA Group started well in 2020
Results of the ENEA Group in Q1 2020 ENEA Group started well in 2020 PLN 4.6 bn PLN 0.9 bn 2.11 an increase in revenues an increase in EBITDA Net debt / EBITDA by PLN 0.6 billion by PLN 0.1 billion (decrease by 0.49) (up by 15% y/y) (up by 14% y/y) 34% r/r 5.4 TWh 2.1 mln t an increase in energy pro
Slide 3: Mining Area
MINING Area
Slide 4: Operating results of LW Bogdanka
Operating results of LW Bogdanka LW Bogdanka flexibly adapts to the market situation Production of commercial coal Sales of coal [million tons] [milion tons] 2.5 2.4 2.1 1.9 -18% -19% Q1 2019 Q1 2020 Q1 2019 Q1 2020 Coal inventories [milion of tons] New excaviations [km] 0.33 7.9 0.26 6.7 +28% -15%
Slide 5: EBITDA in Q1 2020
EBITDA in Q1 2020 Adjusting sales to market needs had an impact on EBITDA [PLN million] Q1 2019 Q1 2020 541 464 -69% -65% -39% -14% 223 128 135 110 45 34 Net profit of the financial year Operating profit (EBIT) EBITDA Revenue from sales and other income 5
Slide 6: EBITDA in Q1 2020
EBITDA in Q1 2020 Adjusting sales to market needs had an impact on EBITDA [PLN million] 15.8 15.9 -15.0 222.9 -104.8 134.8 Q1 2020 EBITDA drivers (+) Higher price of coal sold (+) Lower gross production – decrease in production costs EBITDA down by approx. PLN 88 million (-) Lower sales of coal (-)
Slide 7: Generation Area
GENERATION Area
Slide 8: ENEA Group's operational data
ENEA Group’s operational data Good result on RES output [TWh] Q1 2019 Q1 2020 6.1 5.4 3.9 3.6 2.1 1.8 +34% -16% -8% -11% 0.7 0.5 Total electricity generation Połaniec Kozienice Total net from RES Power Plant Power Plant electricity generation Key drivers (+) Higher energy generation using RES (-) Th
Slide 9: Unit 11 production in Q1 2020
Unit 11 The unit’s production in Q1 2020 Net production of electricity [GWh] Nearly 1,500 hours of work in 1,555 in Q1 2020 -36% 996 Q1 2019 Q1 2020 9
Slide 10: Distribution Area
DISTRIBUTION Area
Slide 11: Volume of distribution services
Volume of distribution services The volume of sales of distribution services remained stable [GWh] Q1 2019 Q1 2020 5,143 5,025 -2% Sales of distribution services to end users Key drivers (+) Increase in the number of customers by 1.3% (-) Slight decrease in sales of distribution services to househol
Slide 12: Trading Area
TRADING Area
Slide 13: Volume of energy sales
Volume of energy sales Increase in the total sales volume to retail customers [GWh] Q1 2019 Q1 2020 5,594 5,417 +3% Sales of electricity and gaseous fuel to retail customers Key drivers (+) Volume of gaseous fuel sales up by approx. 27% (+) Volume of sales of electricity in the business segment up b
Slide 14: Market Environment
MARKET Environment
Slide 15: Market environment
Market environment Electricity prices were driven by external factors CO₂ emission allowances (Dec-20) Prices of “green” property rights (PMOZE_A) EUR/t PLN/MWh 149 145 148 27 26 133 131 25 23 23 115 118 21 20 +26% +0.4% 15 74 63 10 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q1 18 Q2 18 Q
Slide 16: Financial results Q1 2020
Q1 2020 ”) a =) n co) Se & O c gy) & LL
Slide 17: Key financial data of the Group
Key financial data of the Group Good financial performance of the ENEA Group [PLN million] Revenues from sales and other income [PLN million] EBITDA 4,592 913 4,010 799 +15% +14% Q1 2019 Q1 2020 Q1 2019 1 kw. 2020 [PLN million] Net profit / (loss) Net debt / EBITDA 459 2.6 2.1 280 +64% -0.49 Q1 2019
Slide 18: EBITDA in Q1 2020
EBITDA in Q1 2020 Generation and Distribution Areas have achieved the best EBITDA performance [PLN million] 23.4 913.0 307.3 7.7 -27.1 472.3 129.4 Wydobycie Wytwarzanie Dystrybucja Obrót Pozostała działalność Pozycje nieprzypisane Unallocated items EBITDA 1 kw. 2020 Mining Generation Distribution Tr
Slide 19: Capital expenditures
Capital expenditures The ENEA Group consistently increases its investment plans [PLN million] 563 564 Q1 2019 Q1 2020 266 197 198 173 116 89 80 9 Generation Distribution Mining Other Total Structure of the Plan 2020 Other 6.5% Generation Mining 23.6% 27.2% PLN 51 million PLN designated for capital e
Slide 20: Key data
KEY DATA
Slide 21: Q1 2020 in figures
Q1 2020 in figures Financial data EBITDA of PLN 0.9 billion Over PLN 0.5 billion of capital expenditures 2.11 net debt/EBITDA Nearly PLN 4.6 billion of revenue Nearly PLN 0.5 billion of profit net Operational data 5.4 TWh of electricity produced Nearly 5.6 TWh energy and gas sold to retail customers
Slide 22: Attachments
ATTACHMENTS
Slide 23: Operational performance of LW Bogdanka
Operational performance of LW Bogdanka Description Q1 2019 Q1 2020 Change Net production [000s of tons] 2,532 2,066 -18.4% Sales of coal [000s of tons] 2,365 1,918 -18.9% Inventories (at the end of the period) [000s of tons] 255 327 +28.2% Excavation works [km] 7,9 6,7 -15.2% 23
Slide 24: ENEA Group's operational data
ENEA Group’s operational data ENEA Group’s operational data [GWh] Q1 2019 Q1 2020 Change Total net electricity generation 6,108 5,431 -11% Of which: ENEA Wytwarzanie including MEC Piła 3,874 3,551 -8% Połaniec Power Plant 2,095 1,758 -16% Total electricity generation from RES 518 694 +34% Volume of
Slide 25: Volume of energy sales; Key financial data of the Group
Volume of energy sales ENEA Group’s sales data [GWh] Q1 2019 Q1 2020 Change Sales of electricity and gaseous fuel to retail customers 5,417 5,594 3% Key financial data of the Group ENEA Group’s financial data Q1 2019 Q1 2020 Change [PLN million] Revenue from sales 4,010 4,592 15% and other income EB
Slide 26: EBITDA in Q1 2020
EBITDA in Q1 2020 [PLN million] 913.0 307.3 7.7 23.4 -27.1 472.3 129.4 Wydobycie Wytwarzanie Dystrybucja Obrót Pozostała Pozycje Unallocated EBITDA 1 kw. Other działalność nieprzypisane EBITDA Mining Generation Distribution Trading items and i 2020 activities wyłączenia eliminations Q1 2020 Q1 2020
Slide 27: Results of the Generation Area
Results of the Generation Area Generation, including: [PLN million] Must-run power plants Heat RES Q1 2019 Q1 2020 Change Q1 2019 Q1 2020 Change Q1 2019 Q1 2020 Change Revenue 1 578 1 747 169 168 162 (6) 193 197 4 from sales EBIT 177 235 58 27 39 12 59 57 (2) EBITDA 289 350 61 42 54 69 68 (1) 12 CAP
Slide 28: Growth strategy
Growth strategy MISSION: VISION: ENEA provides reliable products and services to its customers by building lasting ENEA is a leading supplier of integrated products and services valued relationships based on respect for the environment and shared values for quality, comprehensive approach and reliab
Slide 29: ENEA Group Results in Q1 2020
ENEA Group RESULTS in Q1 2020 19 June 2020