El5-ener · RUS:ELFV
El5-ener — Enel OGK-5 — FY2013 Earnings Presentation
13 slides from El5-ener's earnings presentation, Mar 6, 2014
Slide 1: Enel OGK-5 2013 Results
Enel OGK-5 2013 Results Moscow, 6 March 2014
Slide 2: Agenda
Enel OGK 5 Enel OGK-5 2013 Results Investor Relations Agenda • Financial Highlights • Power Generation and Sales • Unit Margin on Sales • Focus on CCGTs • Revenues and costs • EBITDA Evolution • From EBITDA to Net Income • Net Debt Evolution • Focus on Liquidity 2
Slide 3: Financial Highlights (Mn RUR)
Enel OGK 5 Enel OGK-5 2013 Results Investor Relations Financial Highlights (Mn RUR)1 20122 2013 % Revenues 66,546 69,723 +5 EBITDA 14,820 16,848 +14 EBITDA margin (%) 22 24 Net Income 5,403 4,939 -9 Net Debt 24,968 19,322 -23 EBITDA/Net financial expenses3 6.5 7.3 Net Debt/EBITDA 1.7 1.1 Net Debt/Eq
Slide 4: Power Output and Sales
Enel OGK 5 Enel OGK-5 2013 Results Investor Relations Power Output and Sales Net Output (TWh) Power Sales (TWh) -6% -6% 44.5 41.9 50.7 11% CCGT 47.7 12% Free Coal 47% 47% 84% 83% Regulated Gas 42% 41% 16% 17% 2012 2013 2012 2013 Plant availability Utilization on total capacity 82% 82% 56% 52% 2012 2
Slide 5: Unit Margin on Sales (RUR/MWh)
Enel OGK 5 Enel OGK-5 2013 Results Investor Relations Unit Margin on Sales (RUR/MWh)1 Unit Price +10% Unit Margin on Sales 937 1026 +9% 196 2012 2013 175 Unit Cost of Sales2 2012 2013 +9% 762 830 2012 2013 Higher unit margin on sales mainly driven by favourable coal price dynamics 1 Excluding capaci
Slide 6: Focus on CCGTs
Enel OGK 5 Enel OGK-5 2013 Results Investor Relations Focus on CCGTs Net Output (TWh) 5.0 4.8 2013 Spreads (RUR/MWh)1 317 2012 2013 26 2013 utilization on total capacity Conventional CCGTs gas units 68% 41% Conventional CCGTs gas units Output moderately declines due to repairs at SGRES CCGT CCGT
Slide 7: Revenues and costs (Bn RUR)
Enel OGK 5 Enel OGK-5 2013 Results Investor Relations Revenues and costs (Bn RUR) Operating revenue breakdown Variable costs 41.4 42.6 69.7 5.8 5.7 66.5 4.2 Fuel 3.8 36.9 35.6 Purchased power 16.6 15.3 Power Capacity 2012 1 2013 2 48.9 47.4 Heat and other Fixed costs 10.8 11.0 O&M manageable 1.0 1.3
Slide 8: EBITDA evolution (Mn RUR)
Enel OGK 5 Enel OGK-5 2013 Results Investor Relations EBITDA evolution (Mn RUR) +14% +1,920 -152 +260 16,848 14,820 Fixed costs Other items Generation margin 2012 2013 EBITDA growth driven by generation margin expansion 8
Slide 9: From EBITDA to Net Income (Mn RUR)
Enel OGK 5 Enel OGK-5 2013 Results Investor Relations From EBITDA to Net Income (Mn RUR) 2012 2013 % EBITDA 14,820 16,848 +14 Depreciation and amortisation1 (5,346) (6,995) +31 EBIT 9,474 9,852 +4 Net Financial Charges2 (2,676) (3,166) +18 EBT 6,799 6,686 -2 Income Tax (1,396) (1,747) +25 Net Income
Slide 10: Net Debt Evolution
Enel OGK 5 Enel OGK-5 2013 Results Investor Relations Net Debt Evolution Net Debt (Mn RUR) Hedged Debt on Total Debt -5,646 9% 17% Unhedged 83% 91% Hedged 24,968 -17,680 31Dec12 31Dec13 +1,547 19,322 Average Cost of Debt +1,833 +8,654 Net financial 2012 2013 FX charges Cost Weight Cost Weight RUR 7.
Slide 11: Focus on Liquidity
Enel OGK 5 Enel OGK-5 2013 Results Investor Relations Focus on Liquidity Available credit facilities (Bn RUR)1 Utilized amount (%) -4.6 63% 64% 48.8 44.2 75% 71% 29% 25% 31Dec12 31Dec13 31Dec12 31Dec13 Long-term Short-term Well-balanced debt structure 1 Not adjusted for FX differences on EUR-nominat
Slide 12: Disclaimer
Enel OGK 5 Investor Relations Disclaimer This presentation contains certain statements that are neither reported financial results nor other historical information (“forward-looking statements”). These forward-looking statements are based on OJSC Enel OGK-5 ’s current expectations and projections ab
Slide 13: Contact Us
Enel OGK 5 Investor Relations Contact Us • Alexey Leonov (Head of IR) +7 495 539 31 31 ext. 7631 alexey.leonov@enel.com Visit our website at: www.enel.ru (Investor Relations) 13