H1 2017 Financial Results Analyst Presentation Abu Dhabi National Energy Company PJSC (TAQA) Abu Dhabi, 10 August 2017
H1 results summary Positive Net Income of AED 112m for H1 2017 - Compared to loss of AED 1.2bn in H1 2016 - Primarily driven by higher commodity prices and lower costs post transformation Stable underlying operations - Steady…
Commodity price environment Improving prices, continued uncertainty Brent average price up 30% vs H1 2016 AECO average price up 71% vs H1 2016 TAQA realised price up 37% vs H1 2016 TAQA realised price up 57% vs H1 2016 Oil prices…
Power & Water Stable operational and financial performance continues Continued strong operational performance Power generation (GWh) - Total power generation 38,346 GWh 40,000 30,000 - Technical availability at 90% 20,000 -…
Oil & Gas Sustained efficiencies from transformation Unit operating costs (/boe) Continued efficiency improvements from Oil & Gas 27.80 - Revenues up 18% to AED 2.8bn; EBITDA up 61% to AED 1.4bn 23.30 22.95 - Unit…
Capital expenditure Increased investment focused on core operations H1 2017 Capex up 24% to AED 619m Capex (AED million) - Increase in capex in line with commodity price recovery, to protect and sustain the value of global assets -…
Financial performance Strong cash flow and positive net income Revenues (AED million) EBITDA (AED million) H1 2017 8,352 H1 2017 4,681 H1 2016 7,948 H1 2016 4,063 Net Income (AED million)* Free cash flow** (AED million)…
Liquidity and key ratios Strong liquidity and proactive management of maturities Robust liquidity position: Corporate Debt Maturity Profile ( million) - Cash and cash equivalents of AED 3.5bn 3,000 - Undrawn credit facilities of…
Concluding remarks Transformation savings sustainably embedded across organisation Ongoing focus on cost discipline and operational efficiency Investing in most profitable assets to maximise cash flow 8/10/2017 Abu Dhabi…
Appendix
Operational Data Power & Water KPIs UAE domestic plants H1 2016 H1 2017 Power generation (GWh) 30,012 30,091 Water desalination (MIG) 121,650 120,643 Technical availability (%) 92.7 91.0 International plants H1 2016 H1 2017 Power…
Operational Data Oil & Gas Production North America H1 2016 H1 2017 Crude oil (mbbls/day) 13.9 13.1 Natural gas (mmcf/day) 351.8 323.0 Natural gas liquids (mboe/day) 11.7 11.9 Average (mboe/day) 84.2 78.9 Europe H1 2016 H1 2017…
Operational Data Oil & Gas Pricing North America H1 2016 H1 2017 Crude oil (/bbl) 27.80 38.88 Natural gas (/mcf) 1.28 2.20 Natural gas liquids (/boe) 18.64 27.75 Average (/boe) 12.54 19.69 Europe H1 2016 H1 2017 Crude oil (/bbl)…
Operational Data Oil & Gas Netbacks North America H1 2016 H1 2017 Gross price (/boe) 12.54 19.69 Royalties (/boe) 1.05 2.45 Net sales price (/boe) 11.49 17.24 Operating costs (/boe) 7.33 7.00 Operating netback (/boe) 4.15 10.24…
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