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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 bound by the following limitations and restrictions.
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2021 Results | 2 |
Delivery of 2021 financial guidance supported by value accretive growth aligned with the Energy Transition
Main Targets Delivered
Guidance 2021 | 2021 Figures(1) | YoY | |
Recurring | ~€3.7 Bn | €3,735m | +7% |
EBITDA | |||
Recurring | >€800m | €826m | +6% |
Net Profit | |||
Net Debt | ~€11.0-11.5 Bn | €11,565m(2) | -6% |
Dividend | €0.19/Share(3) flat YoY |
Highlights
Good performance in RES (+2.6GW, strong asset rotation)
Strong results in Networks, both in Iberia and Brazil
- Weak EM, negative mark-to- market to be recovered in the next years
(1) 2020 recurring EBITDA & Net Profit, adjusted for the two disposals closed in December 2020, 6 hydro plants in Portugal and 2 CCGTs and B2C portfolio in Spain, for comparison going forward | (2) €11.2bn | 2021 Results | 3 |
pro-forma Net debt including equity proceeds of €365m from the Portuguese Asset rotation transaction cashed in January 2022 | (3) To be proposed, subject to shareholders approval in the General Shareholders |
Meeting |
Strategic commitments on track as we step up to the challenge to deliver superior value creation in a challenging context
2021 Execution | 2021-2025 Target |
Accelerated and
sustainable growth
8.4 GW of secured renewable capacity (2.6 GW added, 1.8 GW U/C)
Asset rotation(1): ~€2.8 Bn proceeds
agreed; €0.6 Bn gains in 2021
€0.75 Bn CAPEX in Electricity Networks
€1.5 Bn EDPR capital increase(2); rating upgrades; FFO/Net debt of 21%
€2 Bn Green Hybrid bonds issued @ <1.9% green funding 39%
42% 20 GW of gross additions 2021-25
35% | ~8Bn proceeds 2021-2025; |
avg. €0.3bn gains/year | |
22% €3.4 Bn CAPEX 2021-2025 | |
Solid Balance sheet | |
>20% FFO/Net debt in the short term | |
50% competitive green funding by 2025 |
ESG excellence and attractive returns
75% share of Renewables Generation in 2021 (vs. 74% in 2020)
Global leader in DJ Sustainability Index & inclusion in S&P Global Clean Energy
Green leadership positioning
Reference in ESG
(1) Includes Asset rotations transactions carried in Brazil | (2) Accelerated Book Building | 2021 Results | 4 |
Renewables
We extended our renewables global presence, +12 markets, a new APAC platform, sizeable additions in solar & off-shore technologies
Accelerated and
sustainable growth
We have been expanding our renewable footprint to 21GW(2) …
Europe
11.3 | |
GW | |
North | APAC(1) |
America | |
7.0 | 0.6 |
GW | |
GW | |
South | |
America | |
2.9 | |
GW |
Capacity Installed (GW) | Current EDP presence | Sunseap Capacity (GW) |
…focused on geographic & technology diversification
Record wind and solar additions of 2.6 GW in 2021
+12(3) new markets including the established growth platform in APAC
1.8 GW added in 2021
Wind Onshore | Expansion to UK, Hungary & Chile |
0.5 GW added in 2021 | |
Solar | Expansion to Asian Pacific markets |
OW 1.5 GW of gross operating capacity | |
Wind Offshore | Awarded projects in US, UK, PL & S. Korea |
(1) Pending Sunseap regulatory Approvals | (2) EBITDA + Equity GW as of Dec-21 | (3) New markets include Hungary, Chile, Vietnam , Korea, Singapore, Thailand, Indonesia, | ||
Malaysia, Cambodia, China, Japan and Taiwan. | 2021 Results | 5 |
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EDP - Energias de Portugal SA published this content on 18 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 February 2022 17:51:04 UTC.