S.p.e.e.h. Hidroelectrica S.a. · BVB:H2O
S.p.e.e.h. Hidroelectrica — FY2023 Earnings Presentation
15 slides from S.p.e.e.h. Hidroelectrica's earnings presentation, Mar 28, 2024
Slide 1: #1 Power Producer in Romania and One of the Largest European Hydro Companies
#1 Power Producer in Romania and One of the Largest European Hydro Companies FY 2023 Key Financials Update 28 March 2024
Slide 2: Disclaimer
Disclaimer THIS DOCUMENT IS NOT AN OFFER OR AN INVITATION TO BUY OR SELL SECURITIES. IMPORTANT: Please read the following before continuing. This document has been prepared by S.P.E.E.H. HIDROELECTRICA S.A. (the “Company”) and relates to the Company and its subsidiary (together, the “Group”) and the
Slide 3: Presenters: Hidroelectrica Management Board
Presenters Hidroelectrica Management Board Karoly Borbely Marian Fetița CEO / President of the Management Board CFO / Member of the Management Board Bogdan Badea Radu Constantin Ianăș Rădoi CIO / Member of the Management Board CAO / Member of the Management Board COO / Member of the Management Board
Slide 4: Hidroelectrica at a Glance
Hidroelectrica at a Glance #1 Electricity Producer in Romania with 100% Renewable Energy Portfolio of Scale Strong Financial and Operational Performance Adj. EBITDA(3) (RON M) 74.5% 63.6% 67.9% #1 electricity generation player ~28.3% ~95% 19.3 TWh 37% in Romania of electricity of Romanian energy del
Slide 5: Clear Strategy with Focus on Operational Efficiencies, Growth and Shareholder Returns
Clear Strategy with Focus on Operational Efficiencies, Growth and Shareholder Returns Operational Efficiency Diversified Growth Prudent Financial Strategy Executing Organic Diversifying into Growing Share in the Maximising Cash Optimising Existing Hydroelectric Adjacent Renewable Romanian Energy Gen
Slide 6: Hidroelectrica FY 2023 Key Financials Update
Hidroelectrica FY 2023 Key Financials Update Bogdan Badea – CEO / President of the Executive Board
Slide 7: Strong Revenue Increase due to evolution of supply portfolio
Strong Revenue Increase due to evolution of supply portfolio Revenue Highlights Revenue (RON M) 12,160 0 334 1 Strong revenue growth mainly driven by 1 higher total energy sold (+c.33%) in FY 9,452 2,787 17 (25) 0 2023 (19,338 GWh) compared to FY 2022 25 317 1 4,936 (14,544 GWh) for both generation
Slide 8: Increasing Volumes in 2023 underpinned by improved hydrology
Increasing Volumes in 2023 underpinned by improved hydrology Total Energy Sold Highlights Total Energy Sold (GWh) 1 Hidroelectrica’s total energy produced in 2023 was 17,639 GWh (+c.30% from 2022) and total energy sold reached 2,564 19,338 19,338 GWh (+c.33% from 2022) 6,239 14,544 Of the total ener
Slide 9: Adjusted EBITDA
Adjusted EBITDA Adjusted EBITDA Highlights Adjusted EBITDA (RON M) Adjusted EBITDA Breakdown (RON M) FY 22 FY 23 1 Net Income increased by RON 1,901 m (+c.43%) in FY 23 compared to FY 22, due to 140 27 213 8,253 significant recovery in 1,901 (38) Revenue to normal levels after EBITDA 5,985 EBITDA 8,
Slide 10: Revenue Build-up
Revenue Build-up 2023 2022 Variation (%) Total Production GWh 17,639 13,544 30% External Acquisitions GWh 1,699 1,000 Generation Energy Sold GWh 19,338 14,544 33% Balancing GWh (433) (574) Sales to Supply GWh (6,239) (3,676) Generation Energy Sold GWh 12,665 10,295 23% OPCOM Price RON / MWh 487 532
Slide 11: Electricity Production
Electricity Production Electricity Production for the last 10 years (TWh) Electricity Production (TWh) 18.46 18.12 17.57 17.23 16.91 16.13 4.5 15.21 14.97 3.6 4.3 14.04 3.0 3.0 13.92 3.5 2.8 3.8 3.6 3.5 4.9 3.6 3.4 5.2 3.0 4.2 3.1 2.8 4.0 3.0 4.9 5.7 6.4 5.2 5.1 5.9 5.2 4.2 3.8 4.2 3.5 4.8 3.8 3.6 4
Slide 12: Stable Cost Structure and a Cost-Efficient Organisation
Stable Cost Structure and a Cost-Efficient Organisation Operating Expenses Highlights Operating Expenses (RON MM) Reversal of impairment loss on PPE has significantly 1 increased from RON 24 m in 2022 to RON 237 m in % of Revenues 45% 41% 2023, mainly due to impairment test performed in assets under
Slide 13: Trade Receivables
Trade Receivables Supply Clients (consumptions sites) Wholesale and Retail Revenue Wholesale and Retail Receivables (Numbers) (RON M) (RON M) 3.343 3,205 3,117 11,825 1,047 2,427 1,446 9,110 2,105 4,936 2,149 1,428 1,811 1,637 768 611 1,383 6,961 6.890 192 168 136 182 348 234 113 492 339 120 214 176
Slide 14: Stable Cash Flows Attributed to Strong Market Position in Both Power Generation and Supply
Stable Cash Flows Attributed to Strong Market Position in Both Power Generation and Supply Businesses Operating Cash Flow Highlights Operating Cash Flow (RON MM) 1 Net Income increased by RON 1,901 m 213 (59) (+c.43%) in FY 23 compared to FY 22, due 1,901 (1,010) to significant recovery in Revenue t
Slide 15: Q&A session
End Presentation Q&A session
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