Clp Holdings Limited · HKEX:2
Clp — FY2024 Earnings Presentation
27 slides from Clp's earnings presentation, Feb 24, 2025
Slide 1: Presentation on Annual Results for the year ended 31 December 2024
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in relia
Slide 2: CLP Holdings Limited
中電控股有限公司 CLP Holdings Limited (incorporated in Hong Kong with limited liability) (Stock Code: 00002) The Directors of CLP Holdings as at the date of this announcement are: Non-executive Directors: The Hon Sir Michael Kadoorie, Mr Andrew Brandler, Mr Philip Kadoorie, Mrs Yuen So Siu Mai Betty and Mr
Slide 3: 2024 Annual Results Presentation
CLP Holdings 2024 Annual Results Presentation 24 February 2025
Slide 4: Disclaimer
Disclaimer CLP Holdings Limited (the “Company”, together with its subsidiaries, the “Group”, or “we”, “our” or “us” as the context requires) is providing this document and making an oral presentation thereon (together, this presentation) for information only. We do not represent or warrant (expressl
Slide 5: Agenda
Agenda Overview TK Chiang, Chief Executive Officer Financial Performance and Outlook Alex Keisser, Chief Financial Officer Strategy and Roadmap TK Chiang, Chief Executive Officer Questions and Answers CLP Headquarters in Kai Tak, Hong Kong. 3
Slide 6: Overview
Overview CCGT D2 gas-fired generation unit at Black Point Power Station, Hong Kong. 4
Slide 7: 2024 highlights
2024 highlights Strong financial performance and material improvements from EnergyAustralia. Operational delivery on projects, and fleet contributing to supply reliability and energy transition. Delivering growth in decarbonising markets and securing future recurring earnings. Dividend growth of 1.6
Slide 8: 2024 highlights
2024 highlights Financial Highlights Operational Highlights Change Change Operating Earnings Safety & Customers (before Fair Value Movements) HK$10,949 million 8% Total recordable injury rate (2) 0.24 0.06 Unplanned customer minutes lost 6.02 min 0.04min Total earnings HK$11,742 million 76% in Hong
Slide 9: Financial Performance and Outlook
Financial Performance and Outlook Kwu Tung North Substation, Northern Metropolis, Hong Kong. 7
Slide 10: 2024 financial overview
2024 financial overview Strong financial performance with growth across key financial indicators Operating Earnings (1) EBITDAF (1) before Fair Value Movements Total Earnings HK$25,725 million 9% HK$10,949 million 8% HK$11,742 million 76% Capital Investment (2) Dividend Per Share (DPS) Fourth Interi
Slide 11: EBITDAF by business unit
EBITDAF by business unit Solid growth in EBITDAF with continuous contributions from Hong Kong and improved results from EnergyAustralia HK$M 2,171 (9%) 29,000 1,493 42 197 25,725 261 713 343 24,000 309 23,611 ( 37 ) 3,774 306 ( 237 ) ( 57 ) 2,307 2,856 19,000 3,118 14,000 Taiwan Region & Thailand Ap
Slide 12: Operating earnings by business unit
Operating earnings by business unit Delivered solid growth in earnings and improved results from EnergyAustralia HK$M 2024 2023 Change Hong Kong energy and related activities 8,895 8,823 1% Continued reliable performance and capital investments in new Development Plan cycle Mainland China 1,851 2,07
Slide 13: Hong Kong Operating Earnings
Hong Kong Continued reliable performance and capital investments in new Development Plan cycle to support growth 1% 10,000 8,823 389 8,895 8,000 (8) ( 144 ) ( 133 ) ( 32 ) Operating Earnings 6,000 (HK$M) 4,000 2,000 - 2023 FX Return on higher Lower performance Higher Others * 2024 fixed assets incen
Slide 14: Mainland China Operating Earnings
Mainland China Lower performance mainly due to lower nuclear contribution 2,400 10% 2,073 2,000 16 1,851 ( 10 ) ( 20 ) ( 12 ) 1,600 ( 196 ) 571 Operating Earnings 1,200 Renewables 800 1,671 (HK$M) Nuclear 400 Thermal - 5 (396) Corporate expenses (400) ^ & others 2023 FX Nuclear Renewables Thermal Ot
Slide 15: EnergyAustralia Operating Earnings
EnergyAustralia Material improvement led by delivery on generation assets and momentum in flexible capacity additions 6,000 424% EBITDAF 34 4,000 3,219 5,164 2,000 7 Operating Earnings ( 1,705 ) ( 21 ) 591 (182) 2 ( 403 ) ( 326 ) - Customer EBITDAF (1,424) (HK$M) 2023 FX Energy Customer Enterprise D
Slide 16: Apraava Energy Operating Earnings
Apraava Energy Executing profitable growth strategy 11% 400 40 20 329 301 Operating Earnings 300 (5) 36 85 Renewables 200 ( 63 ) 77 (HK$M) Transmission & AMI 100 120 Thermal - 63 (16) Group adjustment 2023 FX Renewables Transmission & Thermal Group adjustment 2024 Corporate expenses (100) AMI & corp
Slide 17: Taiwan Region and Thailand Operating Earnings
Taiwan Region and Thailand Lower generation at Ho-Ping coal and lower tariff at Lopburi solar 340 12% 307 290 (11 ) 260 Operating Earnings 240 (25 ) (6 ) (5 ) (HK$M) 190 Thermal 140 Solar 261 Corporate expenses 90 40 9 (10) (10) 2023 FX Thermal Solar Corporate expenses* 2024 * Mainly include develop
Slide 18: Cash inflows and outflows
Cash inflows and outflows Strong free cash flow to support growth and dividends HK$ billion 23.5 21.6 1.6 0.6 Cash inflows of HK$21.6b (2023: HK$23.5b) EBITDAF EBITDAF Proceeds from Healthy free cash flow with stable funds from operations supported 23.6 25.7 divestments 21.9 20.9 by underlying EBITD
Slide 19: Financial structure and liquidity
Financial structure and liquidity Sound balance sheet and low risk profile Net Debt Leverage Ratios Liquidity Position Net Debt / Total Capital Undrawn bank facilities Bank balances HK$56.3billion 33.0% (31 Dec 2023: 31.6%) (31 Dec 2023: HK$52.3b) HK$31.0billion HK$5.0billion FFO / Net Debt (31 Dec
Slide 20: Strategy and Roadmap
Strategy and Roadmap Yixing solar located in Jiangsu Province, Mainland China. 18 18
Slide 21: Leading energy utility in Asia Pacific
Leading energy utility in Asia Pacific Present in 5 regions with Uniquely positioned and diversified Strong balance sheet and >22GW of generation across energy value chain dependable dividends distribution ~40 years of MAINLAND CHINA dependable total dividends* INDIA * Ordinary dividends adjusted fo
Slide 22: Strategy
Strategy Opportunities Electrification Energy Transition Strategic pillars for sustained growth Deliver on Climate Vision 2050 Growth in energy transition in Uplift and 59% reduction in GHG emissions Asia Pacific based on enhance intensity by 2030*, out of coal generation, networks, storage capabili
Slide 23: Foundational growth
Foundational growth Committed to our home market Hong Kong Regulated Business Committed investment (2024-2028) Rate of Return Customer & • Support the Hong Kong Government's policy priorities: Climate corp. services 3% Action Plan, new development and housing growth, economic development 8% on and n
Slide 24: Energy transition & decarbonisation in Asia Pacific
Energy transition & decarbonisation in Asia Pacific Pursue investments aligned with our geographic and operational capabilities for dependable earnings growth India Non-Carbon Investments Targeted investment (Apraava Energy level) Minimum Return ~8GW • Continue target to triple non-carbon portfolio
Slide 25: Uplift and enhance capability
Uplift and enhance capability A safe, future-ready workforce Refreshed values, new way of working culture Strategic workforce development Digital and data capability Operational excellence Digital fully embedded into our business Best-in-class assets and operations across energy value chain and dive
Slide 26: Capital allocation and funding strategy
Capital allocation and funding strategy Strong free cash flow generation Solid investment grade rating (S&P A, Moody’s A2) Sustained and committed growth capex in Hong Kong Enabling growth of ordinary dividends in line with underlying earnings Disciplined capital allocation Business models and partn
Slide 27: Question and Answers
Question and Answers Super-fast Charging Station in Zhuhai, Mainland China. 25