Slide 1: Empower Energy Evolution – 3M 2021 Interim Results
Empower Energy Evolution 3M 2021 Interim Results Prof. Dr. Klaus-Dieter Maubach – CEO Tiina Tuomela – CFO 06 May 2021
Slide 2: New leadership team
New leadership team Prof. Dr. Klaus-Dieter Board of Management’s main focus Maubach Board of Management Chief Executive Officer since March 29th, 2021 Accelerate strategy execution at Uniper Tiina Tuomela Greater ambition regarding joint value potential with Chief Financial Officer since March 29th,
Slide 3: Highlights – Strongest quarter since Uniper's listing
Highlights – Strongest quarter since Uniper’s listing Performance Portfolio & Strategy Adjusted EBIT 3M 2021 up 12% to €731m Coal exit ahead of schedule – Wilhelmshaven (757 MW) selected in the 2nd German coal phase-out tender Adjusted Net Income up 19% to €594m Developing plans for Hydrogen
Slide 4: Operating indicators – Reflecting 'normal' winter
Operating indicators – Reflecting ‘normal’ winter Global Commodities European Generation Russian Power Gen. Carbon emissions Gas storage filling1 Production volume2 Production volume2 Scope-13 TWh TWh TWh m tons 100 20 +20% 20 +7% 20 +30% 80 16 5.2 15 15 3.2 Coal 60 12 4.0 Gas 5.5 10 10 40 8 71% 38%
Slide 5: Key financials 3M 2021 – Strong results across all KPIs
Key financials 3M 2021 – Strong results across all KPIs Adjusted EBIT Adjusted EBITDA Operating Cash Flow (OCF) €m €m €m 811 889 651 731 408 119 3M 2020 3M 2021 3M 2020 3M 2021 3M 2020 3M 2021 Adjusted Net Income1 (ANI) Net Income1 Economic Net Debt (END) €m €m €m 820 3,113 594 2,531 499 489 END / 1
Slide 6: Adjusted EBIT – Global Commodities outperforming (once again)
Adjusted EBIT – Global Commodities outperforming (once again) Reconciliation Adj. EBIT 3M 2020 to 3M 2021 €m Adj. EBIT 3M 2020 651 Commodity gas and international European fossil generation Carbon phasing Outright power prices & volumes Russian power generation Adj. EBIT 3M 2021 731 Uniper SE, Prese
Slide 7: Adj. EBIT(DA) to OCF – Improved cash-conversion
Adj. EBIT(DA) to OCF – Improved cash-conversion Reconciliation Adj. EBIT 3M 2021 to Operating Cash Flow 3M 2021 €m 66 159 -78 172 889 731 -5 -12 -625 425 408 PY: 651 PY: 811 PY: 142 PY: 119 Adj. EBIT Depreciation Adj. EBITDA Non-cash Provision Changes in Others (incl. OCFbIT Interest Tax payments OC
Slide 8: Economic Net Debt – Benefitting from OCF and interest rates
Economic Net Debt – Benefitting from OCF and interest rates Reconciliation of Economic Net Debt YE 2020 to 3M 2021 €m 3,113 157 -13 2,531 1,223 -408 -38 -232 -48 1,175 1,371 1,138 520 218 Economic Net Debt Divest OCF Investments Other NFP Pensions ARO Economic Net Debt YE 2020 3M 2021 AROs1 Pension2
Slide 9: Outlook FY 2021 – Raised on the back of strong Q1
Outlook FY 2021 – Raised on the back of strong Q1 Adjusted EBIT Adjusted Net Income (ANI) €m €m 998 1,050 950 Range 850 Range 774 750 Range 800 Range 700 650 550 FY 2020 FY 2021E FY 2021E FY 2020 FY 2021E FY 2021E (old) (new) (old) (new) Uniper SE, Presentation 3M 2021, 06 May 2021 9
Slide 10: Appendix
Appendix 10
Slide 11: Commodity prices - Continuing upward trend
Commodity prices - Continuing upward trend Gas prices1 Carbon prices2 Electricity prices3 Dark & spark spreads4 €/MWh €/t CO2 €/MWh €/MWh 22 60 75 18 20 60 45 11 18 45 30 4 16 30 15 -3 14 15 CSS Peak Germany CSS Base Nordic 12 0 0 -10 CDS Base Jan 20 Jun 20 Nov 20 Apr 21 Jan 20 Jun 20 Nov 20 Apr 21
Slide 12: Outright power hedging in Germany and Nordic
Outright power hedging in Germany and Nordic Hedged prices and hedge ratios Germany1 Hedged prices and hedge ratios Nordic1 TWh €/MWh TWh €/MWh 45 47 49 52 32 27 24 21 3 30 2 20 Front months Front months 100% 90% 95% 1 10 85% 80% 35% 0 0 3M 20212 2021 2022 2023 3M 20212 2021 2022 2023 1. As of 31 Ma
Slide 13: Generation capacity in Europe and Russia
Uniper Group – Generation capacity in Europe and Russia Generation capacity In MW1 31 Mar 2021 31 Dec 2020 Gas Russia 7,139 7,139 UK 4,180 4,180 Germany2 2,912 2,912 Netherlands 525 525 Sweden – 449 Hungary 428 428 Hard coal Germany2 3,954 3,954 UK 2,000 2,000 Netherlands 1,070 1,070 Lignite Russia
Slide 14: Net electricity generation volumes in Europe and Russia
Uniper Group – Net electricity generation volumes in Europe and Russia Electricity generation volumes In TWh1 3M 2021 3M 2020 Gas Russia 10.5 9.9 UK 3.0 2.6 Germany 1.2 0.2 Netherlands 0.5 0.6 Hungary 0.7 0.7 Sweden 0.0 0.0 Hard coal Germany 2.0 1.4 UK 1.0 0.0 Netherlands 1.7 1.0 Lignite Russia 1.9
Slide 15: Adjusted EBIT(DA) by sub-segment
Uniper Group – Adjusted EBIT(DA) by sub-segment Adjusted EBITDA and EBIT 3M 2021 3M 2020 3M 2021 3M 2020 €m Adj. EBITDA Adj. EBITDA Adj. EBIT Adj. EBIT European Generation Subtotal 314 280 224 190 Hydro 91 91 75 76 Nuclear 73 83 57 70 Fossil 165 121 109 60 Other / Consolidation -15 -14 -16 -16 Globa
Slide 16: Adjusted EBIT – Development by sub-segment
Adjusted EBIT – Development by sub-segment European Generation Global Commodities Russian Power Generation €m €m €m 459 -3 48 441 560 -1 -13 -1 224 190 -337 78 -23 54 3M 2020 Hydro Nuclear Fossil Other 3M 2021 3M 2020 Gas Internat./ Power 3M 2021 3M 2020 Russia 3M 2021 Other Hydro: Lower volumes c
Slide 17: Key financial performance items
Uniper Group – Key financial performance items Reconciliation of Adjusted EBITDA to Adjusted Net Income and Net income €m 3M 2021 3M 2020 Adjusted EBITDA 889 811 Economic depreciation and amortization / reversals -159 -160 Adjusted EBIT 731 651 Economic interest result 48 6 Taxes on operating result
Slide 18: Adjusted EBIT to Net Income
Uniper Group – Adjusted EBIT to Net Income Reconciliation of Adjusted EBIT 3M 2021 to Net Income 3M 2021 €m 238 141 -95 -9 -48 -137 731 820 594 Adj. EBIT Economic interest, Adjusted Net Derivative Adjustments from Net Other Taxes on non- Net Income1 taxes, minorities Income financial physically sett
Slide 19: Economic interest result (net)
Uniper Group – Economic interest result (net) Economic interest result €m 3M 2021 3M 2020 Interest rate effects for leasing -5 -6 Interest from financial assets / liabilities 20 15 Interest cost from provisions for pensions and similar provisions -3 -4 Accretion of provisions for asset retirement ob
Slide 20: Non-operating adjustments
Uniper Group – Non-operating adjustments Non-operating adjustments w/o interest €m 3M 2021 3M 2020 Impact of derivative financial instruments -238 -561 Adjustments of revenue and cost of materials from physically settled commodity derivatives to the contract price 95 280 Restructuring / cost managem
Slide 21: Cash-effective investments
Uniper Group – Cash-effective investments Investments by segment €m 3M 2021 3M 2020 European Generation 125 92 Global Commodities 8 17 Russian Power Generation 21 27 Administration / Consolidation 3 5 Total 157 141 Investment split – Maintenance and growth €m 3M 2021 3M 2020 Maintenance & replacemen
Slide 22: Economic Net Debt
Uniper Group – Economic Net Debt €m 31 Mar 2021 31 Dec 2020 Liquid funds 917 289 Non-current securities 106 98 Margining receivables 889 835 Financial liabilities and liabilities from leases 2,131 1,743 Net financial position 218 520 Provisions for pensions and similar obligations 1,138 1,371 Asset
Slide 23: Consolidated balance sheet (1/2)
Uniper Group – Consolidated balance sheet (1/2) Balance sheet – Non-current and current assets €m 31 Mar 2021 31 Dec 2020 Goodwill 1,767 1,751 Intangible assets 725 734 Property, plant and equipment and right-of-use assets 9,808 9,769 Companies accounted for under the equity method 390 380 Other fin
Slide 24: Consolidated balance sheet (2/2)
Uniper Group – Consolidated balance sheet (2/2) Balance sheet – Equity and liabilities €m 31 Mar 2021 31 Dec 2020 Capital stock 622 622 Additional paid-in capital 10,825 10,825 Retained earnings 4,126 3,082 Accumulated other comprehensive income -3,692 -3,778 Equity attributable to the shareholders
Slide 25: Consolidated statement of cash flows (1/2)
Uniper Group – Consolidated statement of cash flows (1/2) Statement of cash flows €m 3M 2021 3M 2020 Net income/loss 842 484 Depreciation, amortization and impairment of intangible assets, of property, plant and equipment, and of right-of-use assets 181 331 Changes in provisions 280 -108 Changes in
Slide 26: Consolidated statement of cash flows (2/2)
Uniper Group – Consolidated statement of cash flows (2/2) Statement of cash flows €m 3M 2021 3M 2020 Cash proceeds/payments arising from changes in capital structure1 – 4 Cash dividends paid to shareholders of Uniper SE – – Cash dividends paid to other shareholders – – Proceeds from new financial li
Slide 27: Financial calendar & further information
Financial calendar & further information Financial calendar Further information https://ir.uniper.energy 19 May 2021 2021 Annual Shareholders Meeting 11 August 2021 Interim Report January – June 2021 05 November 2021 Quarterly Statement January – September 2021
Slide 28: Contact your Investor Relations team
Uniper – Contact your Investor Relations team Stefan Jost Adam Strzyz Jan Houben Executive Vice President Head of Investor Relations (SVP) Manager Investor Relations Group Finance&Investor Relations +49 171 778 8215 +49 151 2631 8000 stefan.jost@uniper.energy adam.strzyz@uniper.energy jan.houben@uni
Slide 29: 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