S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — FY2023 Earnings Presentation
28 slides from S.C. Fondul Proprietatea SA's earnings presentation, Feb 29, 2024
Slide 1: Fondul Proprietatea – 2023 Preliminary Annual Results
Fondul Proprietatea – 2023 Preliminary Annual Results Conference Call 29 February 2024
Slide 2: Fund Information
Fund Information Is FONDUL ey FRANKLIN » TEMPLETON eel
Slide 3: Key Facts
Key Facts Adjusted Share Price (RON) vs. Fund Details Discount/Premium (%) 0.60 8% 31 January 2024 NAV RON USD 0.55 -1% 0.50 Total NAV 2.35 bn 0.51 bn 0.45 -10% NAV/Share 0.6601 0.1436 0.40 -19% 0.35 Key trading figures as at 28 February 2024 0.30 -28% Price/Share 0.5060 0.1101 0.25 -37% 0.20 Price/
Slide 4: Shareholder structure
Shareholder structure Evolution (% Held)1 2% 10% 10% 3% 8% 3% 12% 9% 13% 13% 2% 18% 6% 3% 15% 10% 10% 4% 3% 3% 3% 3% 4% 3% 3% 6% 5% 6% 3% 3% 37% 14% 25% 20% 3% 17% 15% 11% 37% 22% 12% 11% 12% 16% 10% 3% 6% 43% 28% 18% 13% 3% 54% 37% 22% 10% 8% 5% 55% 53% 34% 35% 3% 2% 30% 31% 2% 2% 9% 9% 37% 37% 38%
Slide 5: NAV, Share price and GDR Performance
NAV, Share price and GDR Performance Cumulative Performance1 Since Performance 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 YTD2 Inception2 NAV (2.4)% (0.1)% 314.9% (0.5)% 8.9% 13.3% 1.4% (0.6)% 7.3% 13.1% 19.9% 31.2% 2.2% 47.8% 19.1% (RON) Share Price (30.3)% 38.3% 61.3% 14.5% (
Slide 6: Portfolio
Portfolio — 7 = ie %
Slide 7: Portfolio Structure
Portfolio Structure Listed vs Unlisted By Sector (% of NAV as at 31 January 2024)1 (% of NAV as at 31 January 2024)1 5.4% 0.7% 5.2% 5.4% 4.6% 0.7% 2.8% 14.8% 52.6% 89.4% 18.4% Unlisted Listed Net Cash & receivables Infrastructure Power utilities: Generation Power & Gas Utilities: Transport, Postal S
Slide 8: Largest Holdings by NAV
Largest Holdings by NAV NAV as at % in NAV Majority % FP 31 January 2024 as at Portfolio Company Status Shareholder Stake1 (USD mn) 31 January 2024 Bucharest Airports Unlisted Romanian State 20.0% 191.0 37.4% Engie Romania Unlisted Engie 12.0% 94.1 18.4% Constanta Port Unlisted Romanian State 20.0%
Slide 9: Hidroelectrica IPO – a milestone transaction in Europe
Hidroelectrica IPO – a milestone transaction in Europe Transaction Details Key highlights Name of Company: Hidroelectrica S.A. Country: Romania • Backed by strong local and international long-only demand from Sector: Utilities - Renewables 167 investors, order book was multiple times oversubscribed
Slide 10: Hidroelectrica IPO – a milestone transaction in Europe
Hidroelectrica IPO – a milestone transaction in Europe Third largest IPO in history on a CEE Largest IPO in Romanian history Largest IPO in Europe for 2023YTD Exchange Deal Size Pricing Deal Size Pricing Deal Size Company Industry Pricing Date Company Industry Country Company Industry Country (EURmn
Slide 11: Bucharest Airports – Update
Bucharest Airports – Update Financial performance 2016 2017 2018 2019 2020 2021 2022 2023 Prelim. 1 % y.o.y. Operating revenues (RON mn) 754.7 890.9 992.6 1,066.6 405.6 578.0 999.6 1,203.8 20.4% Operating result (RON mn) 263.6 337.6 445.9 399.0 (175.3) 40.8 344.7 477.1 38.4% Net Income / Loss (RON m
Slide 12: Constanta Ports – Update
Constanta Ports – Update Financial performance 2016 2017 2018 2019 2020 2021 2022 2023 Prelim. 1 % y.o.y. Operating revenues (RON mn) 314.0 330.5 345.2 369.0 398.8 418.9 479.5 548.7 14.4% Operating profit (RON mn) 54.8 93.8 95.8 117.0 145.9 140.6 131.5 135.6 3.1% Net Income (RON mn) 36.8 79.7 75.7 1
Slide 13: Salrom – Update
Salrom – Update Financial performance 2016 2017 2018 2019 2020 2021 2022 2023 Prelim. 1 % y.o.y. Operating revenues (RON mn) 312.4 394.1 436.9 469.2 300.2 374.5 495.3 529.7 6.9% Operating profit (RON mn) 36.3 107.3 93.5 84.6 15.8 70.1 134.4 135.0 0.4% Net Income (RON mn) 27.4 81.1 76.4 77.0 11.5 60.
Slide 14: Corporate Actions
Corporate Actions FONDUL @. FRANKLIN -° TEMPLETON
Slide 15: Distributions to Shareholders
Distributions to Shareholders Annual Distributions to Shareholders (RON mn) 1,124.3 552.7 507.7 1,499.0 1,778.5 923.6 1,190.8 1,743.7 1,870.6 1,081.3 1,483.0 1,519.9 1,931.5 11,266.8 159.8% 1,547.0 269.7 25.4% 15.5% 21.9% 14.8% 17.0% 8.1% 17.5% 18.3% 18.3% 14.7% 7.5% 9,450.1 711.5 832.5 583.1 328.1
Slide 16: Buy-back programs
Buy – back programs No. of shares (to be) repurchased Average share / % of the Fund’s price Cancellation Program Period Status issued share capital (RON / share) Broker of shares1 The cancellation of shares will be subject to Jan – Auerbach Grayson, 14th Finalized 2.11 bn / 37.26% 0.86002 shareholde
Slide 17: Annual dividend income – Largest Holdings by NAV
Annual dividend income – Largest Holdings by NAV Dividend Payout (%) FP Net Dividend (RON mn) Top Holdings1 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 Bucharest Airports 90 90 -2 0 50 68.0 36.7 -2 0.0 31.5 Engie Romania 30 30 30 0 0 16.4 12.1 17.9 0.0 0.0 Constanta Port 25 25 25 25 25 3.7 5.5
Slide 18: 13 February 2024 EGM Resolutions
13 February 2024 EGM Resolutions Only the persons registered as shareholders of Fondul Proprietatea on 18 January 2024 (the Reference Date) in the register of shareholders kept by Depozitarul Central S.A. had the right to participate and vote at the EGM EGM • The approval of the authorization to buy
Slide 19: 26 March 2024 OGM Agenda – Main points (I)
26 March 2024 OGM Agenda – Main points (I) Only the persons registered as shareholders of Fondul Proprietatea on 29 February 2024 (the Reference Date) in the register of shareholders kept by Depozitarul Central S.A. have the right to participate and vote at the OGM OGM Agenda1 • The approval of the
Slide 20: 26 March 2024 OGM Agenda – Main points (II)
26 March 2024 OGM Agenda – Main points (II) The approval of: 11 April 2024 as the Ex – Date; 12 April 2024 as the Registration Date OGM agenda1 • Alternative to item 1 of the OGM Convening Notice – The approval of the terms of, along with the execution of, the Management Agreement between Fondul Pro
Slide 21: 2024 Financial calendar
2024 Financial calendar • Publication of the H1 2024 Results • Ordinary General • Results Shareholders Meeting Conference Call 29 February 26 March 15 May 30 August 15 November • Publication of the • Publication of the • Publication of the 2023 Preliminary Q1 2024 Results Q3 2024 Results Annual Resu
Slide 22: Financial results
Financial results FONDUL | QERANELIN » TEMPLETON 3) FRANKLIN @. TEMPLETON
Slide 23: Preliminary Unaudited Statement of Financial Position
Preliminary Unaudited Statement of Financial Position 31 Dec 2023 31 Dec 2022 31 Dec 2023 RON mn Unaudited Audited vs. 31 Dec 2022 (%) Cash and current accounts 547.6 73.8 >100% Deposits with banks 191.4 912.6 (79.0)% Equity investments 1,792.4 13,696.6 (86.9)% Non-current assets held for sale 432.6
Slide 24: Preliminary Unaudited Statement of Comprehensive Income
Preliminary Unaudited Statement of Comprehensive Income 2023 2022 RON mn Unaudited Audited Net (loss)/ gain from equity investments at fair value through profit or loss (1,604.3) 1,843.8 Gross dividend income 962.8 934.9 Interest income 157.5 25.1 Net gain/ (loss) from non-current assets held for sa
Slide 25: To ask a question
To ask a question: • use the Ask a question box or, • use one of the displayed phone numbers and press *, followed by no.1 on your telephone keypad.
Slide 26: Disclaimer (I)
Disclaimer (I) This presentation is for general information only and reflects the personal views of the presenter. Nothing herein is intended to constitute advice on investment, legal or tax matters, any form of personal recommendation nor it should be construed as, constituting or forming part of,
Slide 27: Disclaimer (II)
Disclaimer (II) No information hereof is to be considered, under any circumstances, as an information provided in accordance with Article 23 of the AIFMD as such was transposed by Article 22 of Law no. 74/2015 on managers of alternative investment funds. In addition, the list of investor rights can
Slide 28: Thank You
Fondul Proprietatea Premium Point Buzesti Street 76-80, 1st District Bucharest 011017 www.fondulproprietatea.ro Thank You