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June 2015 Investor Day – Endesa Generacion Sa

Endesa Generacion Sa · Jun 10, 2015 · 52 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. June 2015 Investor Day – Endesa Generacion Sa – slide 1
    Endesa Investor Day 2015 Madrid, 10 June 2015
  2. June 2015 Investor Day – Endesa Generacion Sa – slide 2
    Investor Day 2015 Agenda Madrid, 10 June 2015 1. Opening Remarks Borja Prado 2. Market trends and outlook for Iberia Jos Bogas 3. 2015-2019 Industrial Plan Jos Bogas/Paolo Bondi 4. Main financial metrics in 2015-17 Jos Bogas…
  3. June 2015 Investor Day – Endesa Generacion Sa – slide 3
    Investor Day 2015 Madrid, 10 June 2015 1.Opening Remarks 3
  4. June 2015 Investor Day – Endesa Generacion Sa – slide 4
    Investor Day 2015 Post-placement shareholding Madrid, 10 June 2015 Free-Float Stock Price performance: +22% (2) New Free Float of 30% (vs. former 7.9%) (1) ENEL 70.1% Retail 5.7% Foreing Inst. Inv. 21.8% Domestic Inst. Inv.…
  5. June 2015 Investor Day – Endesa Generacion Sa – slide 5
    Investor Day 2015 Make-up of the Board of Directors Madrid, 10 June 2015 Chairman Mr. Borja Prado Eulate Executive Mr. Livio Gallo Deputy Chairman Composition according to CNMVs Code of Mr. Francesco Starace External…
  6. June 2015 Investor Day – Endesa Generacion Sa – slide 6
    Investor Day 2015 Endesa, a socially responsible company Madrid, 10 June 2015 Clients Workforce Excellent sales department and customer satisfaction Development, meritocracy and talent ( 7% higher than competitors) Diversity and…
  7. June 2015 Investor Day – Endesa Generacion Sa – slide 7
    Investor Day 2015 Remarks Madrid, 10 June 2015 Spain is heading for recovery after a long period of recession Growth and employment data have shown a remarkable turnaround Political stability is key to reinforce the current…
  8. June 2015 Investor Day – Endesa Generacion Sa – slide 8
    Investor Day 2015 Madrid, 10 June 2015 2. Market trends and outlook for Iberia 8
  9. June 2015 Investor Day – Endesa Generacion Sa – slide 9
    Recent past and mid-term outlook for the Iberian Investor Day 2015 electricity sector Madrid, 10 June 2015 Recent past Mid-term Outlook Economic growth starting in 2014 Economic recession and Positive electricity demand trend…
  10. June 2015 Investor Day – Endesa Generacion Sa – slide 10
    Better perspectives on economic and electricity Investor Day 2015 demand growth Madrid, 10 June 2015 Spanish GDP Spanish mainland electricity demand growth % TWh Spanish Gvment. OECD European Commission +1.9% 273-278 +2.6%…
  11. June 2015 Investor Day – Endesa Generacion Sa – slide 11
    Consolidation of regulatory stability in the Investor Day 2015 Spanish electricity sector Madrid, 10 June 2015 Financially balanced electricity sector (bn) Endesas regulatory working capital (bn) 1.5 Surplus 0-0.1 0.1 0…
  12. June 2015 Investor Day – Endesa Generacion Sa – slide 12
    Market context: Overcapacity in the short term Investor Day 2015 but lack of capacity in the medium term Madrid, 10 June 2015 Capacity margin with and without IED Medium term coal outlook investments in domestic coal Coal…
  13. June 2015 Investor Day – Endesa Generacion Sa – slide 13
    The European Unions sustainability objectives Investor Day 2015 2030 climate and energy package Madrid, 10 June 2015 EU targets Key issues 27% CO2: binding target. Renewables Market Stability Reserve (1) (MSR) starting 2019…
  14. June 2015 Investor Day – Endesa Generacion Sa – slide 14
    Investor Day 2015 Electrification of energy demand Madrid, 10 June 2015 Electrification demand in Spain should increase from 25% in 2014 to 33% in 2030 to reach new objectives RES Final energy (1) RES Main action lines 100% 7%…
  15. June 2015 Investor Day – Endesa Generacion Sa – slide 15
    The electrification of demand requires a re-design Investor Day 2015 of the electricity tariffs Madrid, 10 June 2015 Comparison between Spanish and European household power prices (1) Prices including all taxes and subsidies…
  16. June 2015 Investor Day – Endesa Generacion Sa – slide 16
    Investor Day 2015 Madrid, 10 June 2015 3. 2015-2019 Industrial Plan 16
  17. June 2015 Investor Day – Endesa Generacion Sa – slide 17
    Investor Day 2015 Our Industrial Plan is based on 4 strategic priorities Madrid, 10 June 2015 1 Realize full potential of regulation 2 Organic growth in the liberalized business 3 Focus on efficiency 4 2015-2019 Capex…
  18. June 2015 Investor Day – Endesa Generacion Sa – slide 18
    Investor Day 2015 Our Industrial Plan is based on 4 strategic priorities Madrid, 10 June 2015 1 Realize full potential of regulation 2 Organic growth in the liberalized business 3 Focus on efficiency 4 2015-2019 Capex…
  19. June 2015 Investor Day – Endesa Generacion Sa – slide 19
    Some pending regulatory developments in the short term Investor Day 2015 Madrid, 10 June 2015 Draft Ministerial order with unitary investment and O&M standards expected Distribution Explicit RAB framework still to be finalized…
  20. June 2015 Investor Day – Endesa Generacion Sa – slide 20
    and working to capture opportunities in the medium and long term Investor Day 2015 Madrid, 10 June 2015 Distribution Non-mainland generation Beat standard unitary costs Optimize energy losses and quality Regulated business…
  21. June 2015 Investor Day – Endesa Generacion Sa – slide 21
    Investor Day 2015 Our Industrial Plan is based on 4 strategic priorities Madrid, 10 June 2015 1 Realize full potential of regulation 2 Organic growth in the liberalized business 3 Focus on efficiency 4 2015-2019 Capex…
  22. June 2015 Investor Day – Endesa Generacion Sa – slide 22
    Organic growth in the liberalized business Investor Day 2015 Consolidating our leading position in electricity and further growth in gas Madrid, 10 June 2015 Targets by geography Electricity customers (1) (millions) 11.2 12.0…
  23. June 2015 Investor Day – Endesa Generacion Sa – slide 23
    Investor Day 2015 Strengthening our position in the gas market Madrid, 10 June 2015 Competitive supply Increasing presence in the residential segment Main action Maintaining wholesale lines customers portfolio Gas…
  24. June 2015 Investor Day – Endesa Generacion Sa – slide 24
    Portugal: Growth in electricity and gas while focusing on operational and cost efficiency Investor Day 2015 Madrid, 10 June 2015 Development of a BPO model for B2C Endesas target in Portugal Electricity Full Business Process…
  25. June 2015 Investor Day – Endesa Generacion Sa – slide 25
    VAS market is already sizeable in Spain and is expected to grow Investor Day 2015 Madrid, 10 June 2015 Market characteristics Main drivers for the future Fully liberalized market Electrification of Demand Strong competition…
  26. June 2015 Investor Day – Endesa Generacion Sa – slide 26
    Investor Day 2015 Main lines of action in VAS Madrid, 10 June 2015 Endesa expected VAS margin B2B and Public Administration Gross Margin Main products ( M) 110 Electrical projects & installations Gas projects & maintenance 70…
  27. June 2015 Investor Day – Endesa Generacion Sa – slide 27
    Investor Day 2015 Our Industrial Plan is based on 4 strategic priorities Madrid, 10 June 2015 1 Realize full potential of regulation 2 Organic growth in the liberalized business 3 Focus on efficiency 4 2015-2019 Capex…
  28. June 2015 Investor Day – Endesa Generacion Sa – slide 28
    Investor Day 2015 Focused on efficiency Madrid, 10 June 2015 Opex (1) (bn) -14% Cash costs (bn) FY2014 adjusted 2.2bn -13% FY2014 0.2 adjusted Maintenance capex (2) (bn) 2.8bn 2.8 -10% Significant cash costs…
  29. June 2015 Investor Day – Endesa Generacion Sa – slide 29
    Focused on efficiency Investor Day 2015 Reduction cost targets Madrid, 10 June 2015 Distribution Full deployment of smart metering by 2018 Distribution unitary -13% Investment in efficiency oriented innovative technologies cost…
  30. June 2015 Investor Day – Endesa Generacion Sa – slide 30
    Investor Day 2015 Our Industrial Plan is based on 4 strategic priorities Madrid, 10 June 2015 1 Realize full potential of regulation 2 Organic growth in the liberalized business 3 Focus on efficiency 4 2015-2019 Capex…
  31. June 2015 Investor Day – Endesa Generacion Sa – slide 31
    2015-2019 Capex program focused on profitable Investor Day 2015 investments Madrid, 10 June 2015 Net CAPEX by business (bn) Net CAPEX by nature (bn) 65% 4.4 (1) 35% Distribution Generation Maintenance Growth…
  32. June 2015 Investor Day – Endesa Generacion Sa – slide 32
    2015-2019 Capex program in regulated business: Investor Day 2015 Distribution Madrid, 10 June 2015 Net CAPEX (bn) Main growth projects Smart meters deployment: 0.6 bn 67% Control Rooms integration: 0.1 bn 2.1 (1) 33%…
  33. June 2015 Investor Day – Endesa Generacion Sa – slide 33
    2015-2019 Capex program in regulated business: Investor Day 2015 Non-mainland Madrid, 10 June 2015 CAPEX (bn) Main growth projects Imported coal IED investments: 0.2 bn 52% 48% Some minor repowering projects 0.5 Maintenance…
  34. June 2015 Investor Day – Endesa Generacion Sa – slide 34
    2015-2019 Capex program in liberalized business: Investor Day 2015 Generation Madrid, 10 June 2015 CAPEX (bn) Main growth projects 27% Imported coal IED investments: 0.35 bn 28% National coal IED investments still under 1.4…
  35. June 2015 Investor Day – Endesa Generacion Sa – slide 35
    2015-2019 Capex program in liberalized business: Investor Day 2015 Supply Madrid, 10 June 2015 CAPEX (bn) Main growth projects Valued Added Services: 0.3bn 64% 0.4 36% Maintenance Growth VAS margin expected to double…
  36. June 2015 Investor Day – Endesa Generacion Sa – slide 36
    Investor Day 2015 Our Industrial Plan is based on 4 strategic priorities Madrid, 10 June 2015 1 Realize full potential of regulation 2 Organic growth in the liberalized business 3 Focus on efficiency 4 2015-2019 Capex…
  37. June 2015 Investor Day – Endesa Generacion Sa – slide 37
    2015-2017 EBITDA evolution Investor Day 2015 Madrid, 10 June 2015 2015e (bn) 2016e (bn) 2017e (bn) 13% 3.1 54% 33% Distribution Generation&Supply Non-mainland Regulated EBITDA 65% 37
  38. June 2015 Investor Day – Endesa Generacion Sa – slide 38
    With improvement in financial expenses Investor Day 2015 Madrid, 10 June 2015 Gross debt structure Liquidity terms reviewed (bn) (1) Current (1) Target 15% 38% 85% 3.9 62% Variable rate Fix rate Cash Available LT credit…
  39. June 2015 Investor Day – Endesa Generacion Sa – slide 39
    Strong and stable free cash flow generation Investor Day 2015 allowing for new investment opportunities Madrid, 10 June 2015 2015-2017 FCF evolution (bn) (1) (1) 2015-2017 Free Cash Flow of ca. 3.8 bn 39 (1) Net capex
  40. June 2015 Investor Day – Endesa Generacion Sa – slide 40
    New investment opportunities Investor Day 2015 Madrid, 10 June 2015 Organic investment options Inorganic investment opportunities Improve networks and implement Fragmented domestic market as source of new innovative technologies…
  41. June 2015 Investor Day – Endesa Generacion Sa – slide 41
    Investor Day 2015 Madrid, 10 June 2015 4. Main financial metrics in 2015-17 41
  42. June 2015 Investor Day – Endesa Generacion Sa – slide 42
    20152017 Guidance: creating value for shareholders Investor Day 2015 Madrid, 10 June 2015 2015 2016 2017 EBITDA 3bn 3.1bn 3.1bn Net Income 1.0bn 1.2bn 1.2bn Net Capex 0.8bn 0.9bn 0.9bn 42
  43. June 2015 Investor Day – Endesa Generacion Sa – slide 43
    A very attractive dividend policy with a minimum Investor Day 2015 annual DPS growth target of 5% Madrid, 10 June 2015 2014-2016 Dividend Policy 2014 ordinary dividend of 0.76/share (1) 2015-2016: Maximum amount per share…
  44. June 2015 Investor Day – Endesa Generacion Sa – slide 44
    Committed to and beating our targets Investor Day 2015 Madrid, 10 June 2015 October 2014 Investor Day June 2015 No tariff deficit from 2014 onwards Regulatory topics Law 15/2012 taxes recognition in non mainland EBITDA…
  45. June 2015 Investor Day – Endesa Generacion Sa – slide 45
    Investor Day 2015 Madrid, 10 June 2015 5. Final remarks 45
  46. June 2015 Investor Day – Endesa Generacion Sa – slide 46
    Final remarks Investor Day 2015 Madrid, 10 June 2015 46
  47. June 2015 Investor Day – Endesa Generacion Sa – slide 47
    Appendix Endesa 2015 Investor Day
  48. June 2015 Investor Day – Endesa Generacion Sa – slide 48
    Main assumptions Investor Day 2015 Madrid, 10 June 2015 Main assumptions Macro Unit 2015E 2016E 2017E GDP Spain YoY % 1.4% 1.6% 1.8% GDP Portugal YoY % 1.3% 1.5% 1.9% Fx US/ 1.13 1.17 1.22 CPI Spain % 0.2 1.2 1.4 CPI Portugal % 0.6…
  49. June 2015 Investor Day – Endesa Generacion Sa – slide 49
    Electricity demand, commodities and power Investor Day 2015 price assumptions Madrid, 10 June 2015 Electricity Demand Spain Gas Demand in Spain Spanish GDP -Mainland- -Mainland- Demand (TWh) Bloomberg consensus 2.7% 243 250 255…
  50. June 2015 Investor Day – Endesa Generacion Sa – slide 50
    VASs portfolio Investor Day 2015 B2B Madrid, 10 June 2015 Products Description Grids, transformation centers and substations: New connections, contracted power or supply Electricity projects voltage increase, in-house facilities…
  51. June 2015 Investor Day – Endesa Generacion Sa – slide 51
    VASs portfolio Investor Day 2015 B2B, B2C Madrid, 10 June 2015 Products Description Assessment and equipment solutions for improved efficiency of lighting, Combined Efficiency projects (50,000 kWh/year) Heat & Power and…
  52. June 2015 Investor Day – Endesa Generacion Sa – slide 52
    Endesa Mobile Get full information of the company on Endesa Mobile, Investor Day 2015 the Endesa App for iPhone, iPad and Android devices. Madrid, 10 June 2015 Download from Download from App Store Google Play 54 Investor…

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