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Capital Market Story – E.On

E.On · Nov 1, 2014 · 39 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. Capital Market Story – E.On – slide 1
    Capital Market Story November 2014
  2. Capital Market Story – E.On – slide 2
    Reshaping E.ON Current focus areas Share of NOPAT1 Strengthen performance culture 100% Push for adequate business environment Improve capital management 80% Invest prudently into priority areas 60% Advancing the transformation of…
  3. Capital Market Story – E.On – slide 3
    1 Strengthen performance culture E.ON 2.0 net cost savings E.ON 2.0 bn Almost all cost savings measures now decided 1,2 Implementation largely completed by end 2014 0.9bn of net cost savings achieved so far out 0,8 of 1.3bn,…
  4. Capital Market Story – E.On – slide 4
    1 Example: Simplify our German sales organization Starting point 2012 Target structure 2015 E.ON E.ON E.ON Deutschland Avacon Hanse E.ON E.ON E.ON Bayern e.dis Ruhrgas E.ON Energie Deutschland E.ON E.ON E.ON & E Wie Einfach…
  5. Capital Market Story – E.On – slide 5
    2 Push for adequate business environment Outpace competition Principles Examples Put the customer first From 6 weeks to 6 days to get last customer Identify and monetize emerging trends re-connected after severe storms in Sweden…
  6. Capital Market Story – E.On – slide 6
    2 Examples: putting the customer first Weather-securing Swedish networks Compelling products and services Customers without power after strong storms Teaming up with customers for on-site 250 generation solutions Gudrun 2005…
  7. Capital Market Story – E.On – slide 7
    2 Example: engage to improve business frameworks UK capacity market: key figures 2018-2019 E.ONs participation Nameplate GW Derated GW E.ONs UK fossil assets can qualify for the capacity Outside Demand response market capacity…
  8. Capital Market Story – E.On – slide 8
    3 Improve capital management Proactive portfolio management Capital rotation concept validated Looking back Proceeds of more than 0.7bn from 2 major 6.2bn of disposal proceeds in 2013 renewables transactions in 2013 and 2014 Beyond…
  9. Capital Market Story – E.On – slide 9
    3 Improve capital management Tightening investments Working capital excellence Capex 2012-20161 bn Order-to-cash Procure-to-pay Reduce Increase Non-EU accounts accounts 6 receivable payable Working E&P & Other Capital 4…
  10. Capital Market Story – E.On – slide 10
    4 Invest prudently into priority areas Grandview Berezovskaya 50% partnership with Successful hydro- GE Financial Services static test of the boiler Commissioning Capex significantly early 2015 below benchmark Commissioning by…
  11. Capital Market Story – E.On – slide 11
    Debt and dividend policy confirmed Medium term debt factor…
  12. Capital Market Story – E.On – slide 12
    Our businesses Distribution Networks Energy Sales Energy Solutions Renewables Conventional Generation Exploration & Production Global Commodities Non-EU Countries 11
  13. Capital Market Story – E.On – slide 13
    Distribution networks: one of E.ONs key pillars E.ONs distribution networks Business environment improving 2013 EBITDA in bn Improving regulatory environment in most Energy countries Sales & Southern Solutions Europe Increasing…
  14. Capital Market Story – E.On – slide 14
    Energy sales: customer focus meets cost efficiency E.ONs energy sales business Customer focus: example UK 25 million customers in Europe Above market average net promoter score (NPS) 2013 Customers per region (in millions) Topping…
  15. Capital Market Story – E.On – slide 15
    Energy solutions: sharpening up E.ON Connecting Energies End-to-end provider of energy as managed service Fully-integrated provider of end-to-end managed energy services Serving commercial & industrial customers and public-sector…
  16. Capital Market Story – E.On – slide 16
    Renewables: leveraging pipeline faster 2013A-2016E capacity London Array (0.6 GW) commissioned in 2013 Develop GW ment Amrum Bank West (0.3 GW) and Humber Humber Rd- Amrum- Gateway (0.2 GW) to be commissioned in sand II bank Solar…
  17. Capital Market Story – E.On – slide 17
    Conventional generation: ensuring security of supply EBITDA Generation + Hydro Conventional generation to keep key role bn Ensuring security of supply, even in Hydro wholesale renewables-dominated system Generation Market design…
  18. Capital Market Story – E.On – slide 18
    E&P: harvesting strong investments Oil & gas production Focus on organic growth with short-term mboe emphasis on exploration 37.7 37.4 37 Very encouraging Tolmount discovery Successful ramp-up of Skarv Njord platform under review…
  19. Capital Market Story – E.On – slide 19
    Global Commodities: managing commodity risks Strong assets and positions Clear priorities 42 GW of generation capacity optimized Protect value in European power & gas across Europe Refine plant optimization to meet changes to 29m…
  20. Capital Market Story – E.On – slide 20
    Non-EU: market positions firmed up E.ON Russia Turkey - Enerjisa Brazil - eneva E.ON interest 83% E.ON interest 50% (at equity) E.ON interest 43% (at equity) Pro-rata Capacity 10.3 GW Pro-rata capacity 2.5 GW Pro-rata Capacity 1.7…
  21. Capital Market Story – E.On – slide 21
    Backup Outlook Financials Economic net debt Dividend Operations IR contacts Reporting calendar & Important links 20
  22. Capital Market Story – E.On – slide 22
    Outlook 2014 outlook bn 2013A 1 2014E EBITDA 2 9.4 8.0 8.6 Depreciation 3.6 Economic interest expense 1.9 Taxes 1.2 Minorities 0.4 Underlying net income 2 2.2 1.5 1.9 1. Including pro forma adjustment regarding IFRS 10/11 21 2.…
  23. Capital Market Story – E.On – slide 23
    Outlook 2014 EBITDA outlook per unit1 bn 2013A2 2014E Main drivers Stretch-out Grafenrheinfeld, E.ON 2.0 Generation 1.9 cost savings, lower power prices Higher book gain from capital rotation, Renewables 1.4 lower power prices and…
  24. Capital Market Story – E.On – slide 24
    Financials Financial highlights m FY 2012 FY 2013 % YoY 9M 2013 1 9M 2014 % YoY Sales 132,093 122,450 -7% 89,328 81,348 -9 EBITDA 2 10,771 9,315 -14% 7,128 6,637 -7 EBIT 2 7,012 5,681 -19% 4,455 3,912 -12 Underlying net income 2…
  25. Capital Market Story – E.On – slide 25
    Financials 2013 EBITDA and EBIT by unit m EBITDA1 EBIT1 FY 2012 FY 2013 % YoY FY 2012 FY 2013 % YoY Generation 2,396 1,882 -21% 1,435 973 -32% Renewables 1,349 1,431 +6% 955 982 +3% Global Commodities 1,421 352 -75% 1,163 220 -81%…
  26. Capital Market Story – E.On – slide 26
    Financials First nine months 2014 EBITDA and EBIT by unit m EBITDA 1 EBIT 1 9M 2013 2 9M 2014 % YoY 9M 2013 2 9M 2014 % YoY Generation 1,032 1,553 +50 352 843 +139 Renewables 1,035 1,107 +7 703 764 +9 Global Commodities 820 394 -52…
  27. Capital Market Story – E.On – slide 27
    Financials 2013 EBITDA development1,2 bn FY 2012 EBITDA 10.8 E.ON 2.0 0.7 E&P 0.5 Renewables (EC&R) 0.1 Gazprom settlement one-off 2012 -0.7 Divestments -0.8 Revaluation one-off 2012 -0.2 Provision effects (Germany) -0.1 Power…
  28. Capital Market Story – E.On – slide 28
    Financials First nine months 2014 EBITDA development 1,2 bn 9M 2013 7.1 E&P 0.3 E.ON 2.0 0.3 Renewables (EC&R) 0.1 Nuclear fuel tax 0.2 Disposals -0.5 FX effects -0.2 German regulation -0.2 Region Czechia -0.2 Power price and…
  29. Capital Market Story – E.On – slide 29
    Financials Underlying net income1 m FY 2012 FY 2013 % YoY 9M 2013 2 9M 2014 % YoY EBITDA 10,771 9,315 -14% 7,128 6,637 -7 Depreciation/amortization -3,759 -3,634 - -2,673 -2,725 - recognized in EBIT EBIT 7,012 5,681 -19% 4,455 3,912…
  30. Capital Market Story – E.On – slide 30
    Financials More than half of EBITDA from stable businesses EBITDA1 split 100% The share of stable Progressive businesses within E.ONs 80% portfolio mix rose sharply in hedging and risk reduction 2013 to 54% (2012: 46%) 60% In…
  31. Capital Market Story – E.On – slide 31
    Economic net debt Economic net debt m 31 Dec 2012 31 Dec 2013 3 30 Sep 2014 Liquid funds 6,546 7,814 6,416 Non-current securities 4,746 4,444 5,014 Financial liabilities -25,944 -22,724 -18,941 Adjustment FX hedging1 234 -46 -99…
  32. Capital Market Story – E.On – slide 32
    Economic net debt First 9 months 2014 economic net debt development bn December 31, 2013 -21.7 -10.5 -32.2 1 Dividends -1.0 Investments -3.1 Net financial position Provisions and other Other -2.3 Pension obligations -1.5…
  33. Capital Market Story – E.On – slide 33
    Economic net debt Strong liquidity and well-balanced maturity profile Liquidity and financial flexibility Maturity Profile Revolving bn, as of 30 Sep 2014 1 credit facility (undrawn) 4 5bn Liquid funds 3 & non-current…
  34. Capital Market Story – E.On – slide 34
    Dividend Dividend either in cash or in E.ON shares Voluntary Additional option for shareholders to exchange the cash dividend into E.ON shares scrip Cash payment is default dividend Subscription price close to market price (this…
  35. Capital Market Story – E.On – slide 35
    Operations Generation Conventional capacity retirements 2012 4,477 MW Veltheim 4 ST 223 MW Germany Steam Economic Shutdown Aug 2012 Grain 1+4 1,300 MW UK CCGT LCPD Shutdown Nov 2012 Kingsnorth 1-4 1,974 MW UK Steam LCPD Shutdown Dec…
  36. Capital Market Story – E.On – slide 36
    Operations Generation - E.ONs nuclear fleet in Germany Start-up E.ON share Capacity 2012 output 2012 remaining Shutdown date (%) (MW) (TWh) volumes (TWh)1 date Isar 1 1979 100.0 878 0.0 2 2011 Unterweser 1979 100.0 1,345 0.0 11…
  37. Capital Market Story – E.On – slide 37
    Operations E&P - Oil & Gas production m boe FY 2012 FY 2013 % YoY 9M 2013 9M 2014 % YoY Skarv 0.0 10.0 - 7.0 11.4 +63 % Njord/Hyme 2.6 2.4 -7% 2.4 1.3 -46 % Elgin-Franklin 0.5 0.6 +6% 0.4 0.6 +65 % Babbage 0.9 0.8 -9% 0.5 1.1 +102…
  38. Capital Market Story – E.On – slide 38
    E.ON Investor Relations Contact Dr. Marc Spieker Head of IR T+49 2 11-45 79-3 45 marc.spiekereon.com Peter Blankenhorn Regions / Sales T +49 2 11-45 79-4 81 SRI, Retail peter.blankenhorneon.com Franois Poullet Generation T +49 2…
  39. Capital Market Story – E.On – slide 39
    Reporting calendar & important links Reporting calendar August 13, 2014 Interim Report January June 2014 November 12, 2014 Interim Report January September 2014 March 11, 2015 Annual Report 2014 May 7, 2015 Annual shareholders…

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