Abu Dhabi, 13 May 2015 Abu Dhabi National Energy Company PJSC (TAQA) Q1 2015 results presentation Q1 Results Presentation, Abu Dhabi, May 2015. www.taqaglobal.com
Summary Q1 Results Presentation, Abu Dhabi, May 2015. www.taqaglobal.com 2
Q1 2015 results summary Strong operational performance Robust oil and gas production Strong power performance Transformation programme on track Recordable injuries reduced to lowest levels Gas Storage Bergermeer completed Takoradi…
Operational performance review Q1 Results Presentation, Abu Dhabi, May 2015. 2015 www.taqaglobal.com www.taqaglobal.com 4
Oil & Gas Robust production, improving efficiency Flat production, despite significantly reduced capex Average production Q1 2014 Q1 2015 UK North Sea: (mboed) - Production up 2%, due to high operating N. America 87.8 84.5 efficiency…
Power & Water high availability, strong cashflow Power production up 18% to 15,898 GWh EFOR (Forced outage rate %) 10 Technical availability up in UAE, flat internationally 8 Lower forced outage rate in the UAE 6 4 2 0 GWh…
Major projects close to completion Fujairah 1, United Arab Emirates 30 MIGD desal facility expansion commissioning expected mid-2015 Takoradi 2, Ghana 110 MW capacity expansion commissioning expected mid-2015 Sorang hydro,…
Cost Transformation Programme on track Q1 15 vs Q1 14: Cost Reductions Cash cost savings a major focus due to (AED Million) low commodity price environment 33 Programme targeting AED 1.5 billion in 68 annual cost savings by 2016…
Capital expenditure: 40% reduction in full year 2015 Full Year Capex per Business Unit (AED Million) 8000 7000 40% reduction in 2015 capex programme 6000 compared to 2014 actuals 5000 4000 3000 Q1 2015 capex reduced by 30%, or…
Financial performance Q1 Results Presentation, Abu Dhabi, May 2015. www.taqaglobal.com 10
Financial performance Total sales revenue EBITDA Q1 15 5,131 Q1 15 2,505 Q1 14 7,264 Q1 14 4,104 0 2,000 4,000 6,000 8,000 0 1,000 2,000 3,000 4,000 5,000 AED Million AED Million Net Income Total assets Q1 15 256 Q1 15…
Netbacks Netbacks and net realised prices Netbacks reflect significantly weaker oil by geography (/boe) pricing environment relative to Q1 2014: 0 15 30 45 60 75 90 105 North American netbacks down 71% North America Q1 15 UK…
Key ratios and liquidity AED million Q1 2014 Q1 2015 Cash balance 4,155 3,573 Undrawn credit facilities 10,744 10,660 Key ratios Net Debt/ Net Capital 82% 84% EBITDA/Interest 3.9x 2.6x Net Debt/EBITDA* 4.9 5.6 * LTM value of…
Concluding remarks Q1 Results Presentation, Abu Dhabi, May 2015. www.taqaglobal.com 14
Appendix Q1 Results Presentation, Abu Dhabi, May 2015. www.taqaglobal.com 15
Operational Data Power & Water KPIs 3 months ended March 31 2015 2014 UAE domestic plants Power generation (GWh) 11,440 10,307 Water desalination (MIG) 59,430 59,022 Technical availability (%) 86.6 83.05 International plants…
Operational Data Oil & Gas Production Average Production 3 months ended March 31 2015 2014 North America Crude oil (mbbls/day) 15.90 18.03 Natural gas liquids (mbbls/day) 11.44 12.11 Natural gas (mmcf/day) 342.77 346.08 Average…
Operational Data Oil & Gas Pricing Average Realised Prices 3 months ended March 31 2015 2014 TAQA NORTH Crude oil (US/bbl) 34.62 79.29 Natural gas liquids (US/bbl) 23.60 66.72 Natural gas (US/mcf) 2.35 4.95 Average (US/boe) 19.24…
Operational Data Oil & Gas Netbacks Operating Netbacks 3 months ended March 31 2015 2014 North America Gross price 19.24 44.97 Royalties 2.17 7.15 Net sales price 17.07 37.82 Operating costs 9.02 10.30 Operating netback 8.05…
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