S.C. Fondul Proprietatea SA · BVB:FP
S.C. Fondul Proprietatea SA — Fondul Proprietatea — Shareholder Meeting (November 2019)
18 slides from S.C. Fondul Proprietatea SA's shareholder meeting presentation, Nov 15, 2019
Slide 1: Fondul Proprietatea – 15 November 2019 General Shareholders Meeting
Fondul Proprietatea – 15 November 2019 General Shareholders Meeting
Slide 2: Fund Information
FRANKLIN > TEMPLETON Fund Information <x lu = <x = lW o oa oO oa oO = 2) a Z Oo ae
Slide 3: The Fund – Key Facts
The Fund – Key Facts Fund Details1 RON USD2 NAV 10.71 bn 2.51 bn2 NAV/Share 1.5579 0.36562 Price/Share 1.1550 0.27102 Price/GDR 57.96 13.60 Market Capitalization as at 14 November 20193 8.10 bn 1.87 bn3 Discount/Share as at 14 November 2019 24.08% Discount/GDR as at 14 November 2019 22.48% Number of
Slide 4: FP Market performance
FP Market performance FP Share Price (RON) and Discount (%) 1.2500 63% 0.9000 47% 0.5500 31% 0.2000 15% 1/11 8/11 2/12 8/12 2/13 8/13 2/14 9/14 3/15 9/15 3/16 9/16 3/17 10/17 4/18 10/18 4/19 10/19 Discount Adjusted Share Price Source: BVB, Bloomberg, for the period 25 January 2011 – 14 November 2019
Slide 5: Portfolio
FRANKLIN > TEMPLETON <x lu = <x = lW o oa oO oa oO Portfolio = 2) a Z Oo ae
Slide 6: Portfolio Structure
Portfolio Structure Listed vs Unlisted By Sector By Controlling Ownership as at 31 October 2019 (% NAV)1 as at 31 October 2019 (% NAV)1 as at 30 September 20192 Power Utilities: Generation……....42% Oil & Gas.……….22% State Unlisted….…70% Power & Gas Utilities: Controlled Distribution & Entities………55%
Slide 7: Largest Holdings by NAV
Largest Holdings by NAV NAV as at % in NAV Majority 31 October 2019 as at Portfolio Company Status Shareholder % Stake1 (USD mn) 31 October 2019 Hidroelectrica Unlisted Romanian State 19.9% 972.45 38.71% OMV Petrom Listed OMV 9.9% 559.52 22.27% Bucharest Airports Unlisted Romanian State 20.0% 214.01
Slide 8: Top Portfolio Holdings – 9-months 2019
Top Portfolio Holdings – 9-months 2019 financials Net profit (RON mn) Company 9mo 2018 9mo 2019 %yoy Hidroelectrica 1,675.8 1,315.1 (27.4)% OMV Petrom 2,667.2 2,759.9 3.4% Bucharest Airports 333.3 321.3 (3.6)% Nuclearelectrica 321.0 416.0 29.6% Alro 202.9 (110.0) (154.2)% Total 5,200.2 4,702.3 (9.6)
Slide 9: Corporate Actions
FRANKLIN EMPLETON ; : ; : ; ' ; : ’ ‘ ~ Corporate Actions <x lu a x a Ws iad a jo) ao a = 2) a Z Oo ae
Slide 10: 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 1,056.1 25.4% 2000 18.3% 21.9% 17.5% 1500 15.5% 583.1 1,121.5 832.5 10.5% 14.7% 1000 600.0 236.6 484.4 181.5 7.5% 362.6 344.7 232.3 8.1% 1,124.3 389.3 189.5 2
Slide 11: Annual dividend income – Top portfolio companies
Annual dividend income – Top 10 portfolio companies Dividend Payout (%) FP Net Dividend (RON mn) Top 10 Holdings1 2015 2016 2017 2018 2015 2016 2017 2018 2019 Hidroelectrica 80 90 90 90 128.9 134.6 206.6 226.2 358.7 OMV Petrom -2 94 46 38 120.5 -2 106.8 107.6 145.3 Bucharest Airports 75 90 90 90 10.
Slide 12: Total dividend income from portfolio companies
Total dividend income from portfolio companies FP Net Dividend (RON mn) 2013 2014 2015 2016 2017 2018 2019 Total Dividends from Listed Companies (RON mn) 373.9 538.6 251.5 36.0 148.1 199.6 223.0 Total Dividends from Unlisted Companies (RON mn) 275.82 143.5 315.9 315.2 404.5 366.9 490.5 Total Annual
Slide 13: Potential special dividends in 2019
Potential special dividends in 2019 Available cash Special dividend FP’s Share of Special Company (RON mn) requested (RON mn) Dividends( RON mn)4 Date of approving GSM Hidroelectrica 2,522.01 1,250.0 249.3 17 December 2019 Nuclearelectrica 1,508.02 512.5 35.3 19 December 2019 Bucharest Airports 300.
Slide 14: GSM agenda
es TEMPLETON GSM agenda <x lu = <x = lW o oa oO oa oO = 2) a Z Oo ae
Slide 15: 15 November 2019 GSM agenda – Main points
15 November 2019 GSM agenda – Main points EGM agenda: OGM agenda: • The approval of the 11th buy-back programme for a maximum number of 800,000,000 treasury shares (shares and/or GDRs), starting with 1 January 2020 until 31 December 2020. The buy-back shall be performed at a • The approval of 2020 b
Slide 16: 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 17: Disclaimer (II)
Disclaimer (II) The price of shares and income from them can go down as well as up and you may lose some or all of your capital invested. The previous results of a fund or company do not account for future performances. Currency fluctuations will affect the value of foreign investments. All investme
Slide 18: Fondul Proprietatea contact details
Fondul Proprietatea Premium Point Buzesti Street 78-80, 1st District Bucharest 011017 www.fondulproprietatea.ro
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