S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Q3 2021 Earnings Presentation
30 slides from S.C. Fondul Proprietatea SA's earnings presentation, Nov 15, 2021
Slide 1: Fondul Proprietatea – Q3 2021 Results Conference Call
Fondul Proprietatea – Q3 2021 Results Conference Call 15 November 2021
Slide 2: Fund Information
Fund Information Is FONDUL ey FRANKLIN » TEMPLETON eel
Slide 3: The Fund – Key Facts
The Fund – Key Facts Fund Details1 FP Adjusted Share Price8 and Discount/Premium (%) Fund Details1 RON USD 1.97 8% NAV 12.37 bn 2.91 bn2 1.80 0% NAV/Share 2.1054 0.49572 1.64 -8% Price/Share 1.6700 0.39322 Price/GDR 84.942 20.00 1.47 -17% Market Capitalization as at 12 November 2021 10.55 bn 2.44 bn
Slide 4: NAV, Share price and GDR Performance
NAV, Share price and GDR Performance Since Q3 9mo Performance 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2021 YTD2 Inception2 NAV (RON) (0.5)% 8.9% 13.3% 1.4% (0.6)% 7.3% 13.1% 19.9% 31.2% 2.2% 11.9% 32.5% 34.0% 223.9% Cumulative Share Price Performance1 (RON) (30.3)% 38.3% 61.3% 14.5% (
Slide 5: Attribution to NAV Performance for Q3 2021
Attribution to NAV Performance for Q3 2021 Weight in total Change in NAV Change in NAV per share Company Status NAV1 performance (RON) Hidroelectrica Unlisted 59.0% 10.45% 0.2018 Top OMV Petrom Listed 14.8% 1.11% 0.0214 Performers Alro Listed 1.7% 0.05% 0.0010 Romaero Listed 0.4% (0.08)% (0.0015) Zi
Slide 6: Attribution to NAV Performance for 9mo 2021
Attribution to NAV Performance for 9mo 2021 Weight in total Change in NAV Change in NAV per share Company Status NAV1 performance (RON) Hidroelectrica Unlisted 59.0% 24.94% 0.4233 OMV Petrom Listed 14.0% 4.75% 0.0806 Top Engie Romania Unlisted 4.9% 0.81% 0.0137 Performers Alro Listed 1.7% 0.40% 0.00
Slide 7: Portfolio
Portfolio — 7 = ie %
Slide 8: Current Portfolio Structure
Current Portfolio Structure Listed vs Unlisted By Sector (% of NAV as at 29 October 2021)1 (% of NAV as at 29 October 2021)1 2% 2% 4% 4% 8% 18% 11% 58% 16% 78% Unlisted Listed Net Cash & receivables Power Utilities: Generation Infrastructure Oil & Gas Heavy industry Aluminium Power & Gas Utilities:
Slide 9: Portfolio Structure – 30 September 2021 NAV
Portfolio Structure – 30 September 2021 NAV Listed Companies Unlisted Companies By Controlling Ownership 0.1% 1.5% 0.7% 0.4% 2.2% 4.0% 1.7% 4.8% 4.9% 27.7% 6.1% 16.9% 79.1% 68.2% 59.0% 14.8% OMV Petrom Alro Romaero Others Hidroelectrica ENEL companies State Controlled Entities Engie Romania Buchares
Slide 10: Largest Holdings by NAV
Largest Holdings by NAV NAV as at % in NAV Majority 29 October 2021 as at Portfolio Company Status Shareholder % Stake1 (USD mn) 29 October 2021 Hidroelectrica Unlisted Romanian State 19.9% 1,703.2 58.5% OMV Petrom Listed OMV 7.0% 460.1 15.8% Engie Romania Unlisted Engie 12.0% 142.2 4.9% Bucharest A
Slide 11: Top Portfolio Holdings – Key financials
Top Portfolio Holdings – Key financials EBITDA (RON mn) Net Profit (RON mn) Top Holdings 9mo 2020 9mo 2021 % change 9mo 2020 9mo 2021 % change Hidroelectrica 1,927.9 3,612.8 87.4% 1,264.2 2,566.8 103.0% OMV Petrom 3,194.6 4,756.6 48.9% 826.3 1,676.0 102.8% Bucharest Airports 31.3 133.3 325.9% (49.6)
Slide 12: Hidroelectrica – Update
Hidroelectrica – Update 9mo 2021 results: Dividends paid in (RON mn) • According to the management, in the first 9 months of 2021 the 646 675 1,691 1,821 2,799 2,003 2,290 company’s performance was as follows compared to the similar period of 2020: – Turnover of RON 4,688.3 mn, up 70%, – EBITDA of R
Slide 13: OMV Petrom – Update
OMV Petrom – Update Financial and 9mo 9mo In the January – September 2021 period: %YoY Operational highlights 2020 2021 Sales to external costumers • Consolidated sales revenues increased compared to the same period of 2020, (mn RON) 15,122 17,046 12.7% mainly due to higher sales of petroleum produc
Slide 14: Bucharest Airports – Update (I)
Bucharest Airports – Update (I) Financials 2016 2017 2018 2019 2020 9mo 2020 9mo 2021 % y.o.y. Operating revenues (mn RON) 754.7 890.9 992.6 1,066.6 405.6 304.3 386.6 27.0% Operating result (mn RON) 263.6 337.6 445.9 399.0 (178.0) (57.5) 37.5 165.2% Net Income/Loss (mn RON) 224.7 290.7 371.8 359.6 (
Slide 15: Bucharest Airports – Update (II)
Bucharest Airports – Update (II) Baneasa Airport share capital increase • During the October 2021 GSM, the Ministry of Transport voted in favor of a share capital increase with the land inside the Baneasa Airport, brought as Romanian state’s contribution in kind to the company's capital. This was th
Slide 16: Constanta Ports – Update
Constanta Ports – Update 9mo 9mo Financial performance 2016 2017 2018 2019 2020 2020 2021 % y.o.y. Operating revenues (RON mn) 314.0 330.5 345.2 369.0 398.8 257.8 311.8 20.9% Operating profit (RON mn) 54.8 93.8 95.8 117.0 145.9 133.5 156.3 17.1% Net Income (RON mn) 36.8 79.7 75.7 108.2 130.3 124.3 1
Slide 17: Enel Group companies – Update
Enel Group companies – Update On 4 November, Enel S.p.A. published nine months 2021 financial results for the global group. For Romania, the Group reported: EBITDA • EUR 98 million for the infrastructure and • EUR 58 million for the retail segment networks’ segment (distribution), 2.0% lower (supply
Slide 18: Alro – Update
Alro – Update Operational performance1 9M 20 9M 21 %YoY Q3 20 Q3 21 %YoY LME aluminium prices (USD/tons)2 Operating revenues (RON mn) 1,942.0 2,466.4 27.0% 581.0 928.5 59.8% 3,150 Sales of primary aluminium 851.5 1,075.8 26.3% 275.4 375.7 36.4% 2,900 2,650 Sales of processed aluminium 958.5 1,200.9
Slide 19: Compensation scheme for electricity and natural gas consumption, cold season 2021–2022
Compensation scheme for the consumption of electricity and natural gas for the cold season 2021 – 2022 On 1 November 2021 it entered into force Law 259/2021 for approval of the GEO no. 118/2021 regarding the establishment of a compensation scheme for the consumption of electricity and natural gas fo
Slide 20: Corporate Actions
Corporate Actions FONDUL @. FRANKLIN -° TEMPLETON
Slide 21: 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 1,494.0 25.4% 29% 2,000 18.3% 21.9% 17.5% 18.3% 23% 1,500 583.1 600.0 832.5 15.5% 1,121.5 301.3 14.8% 17% 10.5% 812.6 1,000 236.6 181.5 484.4
Slide 22: Buy-back programs
Buy – back programs No. of shares (to be) repurchased/ Average % of the Fund’s share price Cancellation Program Period Status issued share capital (RON/share) Broker of shares1 The cancellation of shares will 1 Jan – Auerbach Grayson, Twelfth Ongoing 800.00 mn/12.48% 1.67502 be subject to shareholde
Slide 23: 15 December 2021 GSM Agenda – Main Points (I)
15 December 2021 GSM Agenda – Main Points (I) Only the persons registered as shareholders of the Fondul Proprietatea on 26 November 2021 (the Reference Date) in the register of shareholders kept by Depozitarul Central S.A. have the right to participate and vote at the GSM that will take place starti
Slide 24: 15 December 2021 GSM Agenda – Main Points (II)
15 December 2021 GSM Agenda – Main Points (II) The approval of: 27 January 2022 as the Ex – Date; 28 January 2022 as the Registration Date; 18 February 2022 as the Payment Date. OGM agenda • The approval of the 2022 budget. • The approval of the terms along with the execution of the Management Agree
Slide 25: Financial results
Financial results FONDUL | QERANELIN » TEMPLETON 3) FRANKLIN @. TEMPLETON
Slide 26: Statement of Financial Position
Statement of Financial Position 30 September 2021 31 December 2020 RON mn Unaudited Audited Cash and current accounts 76.9 34.4 Deposits with banks 445.1 660.0 Government bonds 77.9 380.3 Dividend receivables - 0.0 Equity investments 11,770.4 9,246.7 Other assets 0.4 0.6 Total assets 12,370.7 10,322
Slide 27: Statement of Comprehensive Income
Statement of Comprehensive Income 9mo 2021 9mo 2020 RON mn Unaudited Unaudited Unrealised loss from equity investments at fair value through profit or loss (107.1) (1,741.0) Unrealised gain from equity investments at fair value through profit or loss 2,620.3 42,2 Realised loss from equity investment
Slide 28: Disclaimer (I)
Disclaimer (I) This presentation is made solely to the intended recipient and should not be distributed to, or acted upon by, any other person. It is for general information only and reflects the personal views of the presenter. Nothing herein is intended to constitute advice on investment, legal or
Slide 29: Disclaimer (II)
Disclaimer (II) In addition, the list of investor rights can be found in the Constitutive Act, available on the Fund’s website, in the Corporate Governance section, here: https://www.fondulproprietatea.ro/about-fund/fund-overview/corporate-governance. The price of shares and income from them can go
Slide 30: Thank You
Fondul Proprietatea Premium Point Buzesti Street 76-80, 1st District Bucharest 011017 www.fondulproprietatea.ro Thank You