EDP Energias de Portugal S A : Credit Investor Presentation - Nov 22
11/15/2022 | 11:22am EST
CREDIT INVESTORS' PRESENTATION
This document has been prepared by EDP - Energias de Portugal, S.A. (the "Company") solely for use at the presentation to be made on this date and its purpose is merely of informative nature and, as such, it may be amended and supplemented and it should be read as a summary of the matters addressed or contained herein. By attending the meeting where this presentation is made, or by reading the presentation slides, you acknowledge and agree to be boundby the following limitations and restrictions.
This presentation may not be distributed to the press or to any other person in any jurisdiction, and may not be reproduced in any form, in whole or in part for any other purpose without the express and prior consent in writing of the Company.
This presentation and all materials, documents and information used therein or distributed to investors in the context of this presentation do not constitute or form part of and should not be construed as, an offer (public or private) to sell or issue or the solicitation of an offer (public or private) to buy or acquire securities of the Company or any of its affiliates or subsidiaries in any jurisdiction or an inducement to enter into investment activity in any jurisdiction.
Neither this presentation nor any materials, documents and information used therein or distributed to investors in the context of this presentation or any part thereof, nor the fact of its distribution, shall form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever and may not be used in the future in connection with any offer (public or private) in relation to securities issued by the Company.
Any decision to invest in any securities of the Company or any of its affiliates or subsidiaries in any offering (public or private) should be made solely on the basis of the information to be contained in the relevant prospectus, key investor information or final offering memorandum provided to the investors and to be published in due course in relation to any such offering and/or public information on the Company or any of its affiliates or subsidiaries available in the market.
Matters discussed in this presentation may constitute forward-looking statements. Forward- looking statements are statements other than in respect of historical facts. The words "believe," "expect," "anticipate," "intends," "estimate," "will," "may", "continue," "should" and similar expressions usually identify forward-looking statements.
Forward-looking statements include statements regarding: objectives, goals, strategies, outlook and growth prospects; future plans, events or performance and potential for future growth; liquidity, capital resources and capital expenditures; economic outlook and industry trends; energy demand and supply; developments of the Company's markets; the impact of legal and regulatory initiatives; and the strength of the Company's competitors. The forward- looking statements in this presentation are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Important factors that may lead to significant differences between the actual results and the statements of expectations about future events or results include the company's business strategy, financial strategy, national and international economic conditions, technology, legal and regulatory conditions, public service industry developments, hydrological conditions, cost of raw materials, financial market conditions, uncertainty of the results of future operations, plans, objectives, expectations and intentions, among others. Such risks, uncertainties, contingencies and other important factors could cause the actual results, performance or achievements of the Company or industry results to differ materially from those results expressed or impliedin this presentation by such forward-looking statements.
The information, opinions and forward-looking statements contained in this presentation speak only as at the date of this presentation, and are subject to change without notice unless required by applicable law. The Company and its respective directors, representatives, employees and/or advisors do not intend to, and expressly disclaim any duty, undertaking or obligation to, make or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this presentation to reflect any change in events, conditions or circumstances.
Credit Investors' Presentation
We are a global company, leader in the energy sector, present in 29 markets throughout different stages of the value chain
% Weight on EBITDA 2021
Wind, Solar & Hydro
Client solutions &
€3.7 Bn 20%
Values as of 2021
1. Recurring | 2. Energy and services clients
Credit Investors' Presentation
Key credit strengths
Attractive, resilient and integrated business model with stable margins, visible cash flow generation and sustainable hedging policy
Favourable underlying trends across EDP key markets
Distinctive green positioning
Solid balance sheet and low risk profile with commitment towards a solid investment grade rating
Investment strategy focused on low-risk and green business profile
Modern and geographically diversified operations
Integrated operations across energy value chainallows for successful risk mitigation
Strong protection against inflation through long-term offtake contracts and long-duration hedges
Government actions supporting RES1 in Europe and US (RepowerEU, Inflation Reduction Act 2022)
Highly competitiveRES1market and fast-growing energy demand in LatAm
Consistentlyleading ESG rankings on sustainable strategy
96% of total gross investmentsentirely focused on energy transition in 9M22
~53% weight from renewables on EBITDAin 9M22 with aim to have 100% renewable generation by 2030
3.5x Net Debt2/EBITDA as ofDec-2021 (in line with 2025 target) and strong liquidity position of €10.3bn3 as of September 2022
Protected against interest rate pressureswith ~70% of fixed rate debt
Geographical: Europe and North America (~70% of capex in renewable capacity in 9M22)
Business: Networks & Renewables (~95% of capex in 9M22)
Low-carbon and modern generation fleet
Geographic diversification, a significant portion of EBITDA generated outside of Portugal, mainly in Spain, Brazil, US and Canada
Source: Company Information | (1) Renewable Energy Sources | (2) Net debt used for the ND/EBITDA ratio includes Net debt adjusted for regulatory receivables/payables plus 'Lease Liabilities' shown
Credit Investors' Presentation
under note 32 of EDP Group's for the period ended 31 December 2021 | (3) Detailed calculation on slide 16
9M22 | Results Presentation
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EDP - Energias de Portugal SA published this content on 15 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2022 16:21:05 UTC.