Redeia Corporacion Sa · BME:RED
Redeia Corporacion Sa — Red Eléctrica Corporación — H1 2018 Earnings Presentation
12 slides from Redeia Corporacion Sa's earnings presentation, Aug 1, 2018
Slide 1: 2018 Half Year Results
2018 Half Year Results 1 August 2018
Slide 2: Half Year Results
2018 Half Year Results
Slide 3: Major developments in 1H 2018
Major developments in 1H 2018 Results ● Net profit totalled 356.97 M€, 5.0% higher than profits during the same period in 2017. ● Dividend payment of €0.9188 per share charged to FY2017, up 7% from 2016. ● EUR 600 million 9-year euromarket bond issue at a cost of 1.316%. ● S&P confirmed the company’
Slide 4: Major developments in 1H 2018
Major developments in 1H 2018 System ● Launch of the European Cross-Border Intraday Market (XBID). operation Corporate ● The Board of Directors of the Company, during the meeting held the 31st of July Governance 2018, has resolved as follows: ○ Accept the resignation tendered by Mr. José Folgado Bla
Slide 5: Key figures
Key figures M€ 1H17 1H18 2017-18 Turnover 987 990 0.3 % EBITDA 770 777 0.9 % Profit before tax 454 476 4.8 % FY profit 340 357 5.0 % Total investment 1981 183 1. Includes payment for the acquisition of 45% of Redesur made in January 2017. First half profit rose 5.0 %. Results in line with 2014-19 St
Slide 6: Investment in 1H 2018
Investment in 1H 2018 Transmission in Transmission in Other Spain LatAm investments Peru 1,314 km Red Electrica Chile Chile and Peru 1,462 km 154M€ 17M€ 12M€ On 12 July 2018, Red Eléctrica reached an agreement to acquire 100% of the share capital in the Chilean company, Centinela Transmisión, for $1
Slide 7: Financial structure
Financial structure Net financial debt performance (M€) - 301 4,792 183 501 4,491 645 138 Average term to maturity: 5.8 years 27 The cost of debt in 1H18 was 2.44 % vs. 2.83% in 1H17 91% of debt at fixed rates 2017 Operating Changes in Investments Dividends Other 1H18 Cash flow working capital 1. In
Slide 8: Financial structure
Financial structure Solvency ratios M€ 1H17 1H18 Sources of liquidity 2,651 M€ EBITDA / Interest (*) 10.6x 11.4x FFO / Net Debt 24.4 % 26.5 % Maturities 3,800 Net Debt / EBITDA 3.2x 2.9x Other (*) EBITDA / net financial expenses excluding the effect of activations. USPP EIB & ICO loan Debt structure
Slide 9: Conclusions
Conclusions ● The results for the first half of the year are in line with the targets established in the 2014-2019 Strategic Plan. ● Strong cash flow performance and favourable evolution of financial indicators. The Standard & Poor’s rating agency confirmed the company’s A- rating, with a stable out
Slide 10: Shareholders and investors
relacioninversores@ree.es Presentation available at: www.ree.es Shareholders and investors
Slide 11: This document has been produced by Red Eléctrica Corporación
This document has been produced by Red Eléctrica Corporación, S.A. for the sole purpose expressed herein. Under no circumstances should it be construed as an offer of sale, exchange, or acquisition, or as an invitation to make any kind of offer, in particular, for the purchase of securities issued b
Slide 12: Alternative Performance Measures
In addition to the financial reporting prepared in accordance with the IFRS, this presentation includes certain Alternative Performance Measures (“APMs”), as defined in the Guidelines on Alternative Performance Measures published by the European Securities and Markets Authority on 5 October 2015 (ES
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