E.on Se · XETR:EOAN
E.on — Investor Presentation (March 2015)
135 slides from E.on's investor presentation, March 2015
Slide 1: E.ON Facts & Figures March 2015
E.ON Facts & Figures March 2015 1
Slide 2: Content
Content E.ON Group 3 Generation 8 Renewables 25 Exploration & Production 50 Global Commodities 59 Germany 69 Other EU countries 81 Russia 119 ENEVA 125 Enerjisa 131
Slide 3: Content
Content E.ON Group 3 Generation 8 Renewables 25 Exploration & Production 50 Global Commodities 59 Germany 69 Other EU countries 81 Russia 119 ENEVA 125 Enerjisa 131
Slide 4: E.ON Group
E.ON Group 4
Slide 5: E.ON's Group structure
E.ON Group E.ON's Group structure Group Management Global Exploration & Other EU Non EU Support Generation Renewables Germany Technologies2 Commodities Production countries1 countries functions2 Coal, Oil, Distribution UK Russia Nuclear Hydro Freight & LNG Networks Sweden Other Non EU countries: Win
Slide 6: E.ON's Board of Management
E.ON Group E.ON's Board of Management Johannes Leonhard Jørgen Bernhard Klaus Mike Teyssen Birnbaum Kildahl Reutersberg Schäfer Winkel appointed in appointed in appointed in appointed in appointed in appointed in 2004 2013 2010 2010 2013 2013 Group Global Brazil, Russia, Coordination Finance, Genera
Slide 7: Content
Content E.ON Group 3 Generation 8 Renewables 25 Exploration & Production 50 Global Commodities 59 Germany 69 Other EU countries 81 Russia 119 ENEVA 125 Enerjisa 131
Slide 8: E.ON Generation
E.ON Generation Nuclear - Steam - CCGT 8
Slide 9: E.ON Generation
E.ON Generation The generation unit consists of 3 fleets grouping all conventional European plants with similar technology: - Nuclear - Steam (coal fuel, gas or biomass) - CCGT1: gas or oil Currently operates about 370 power plant units throughout Europe at around 300 locations Major events 2014 Wit
Slide 10: E.ON Generation
E.ON Generation 2012 - 2014 Earning streams1,2 EBITDA in bn€ 2012 2013 2014 Wholesale 1,8 1,1 1,6 LTC /TSO 0,6 0,8 0,7 Total 2,4 1,9 2,2 €bn 2011 - 2014 EBIT / EBITDA €bn 2012 - 2015 Capex 3 2 2,4 1,6 2,1 2,2 1,9 2 1,1 1,4 0,9 1,1 1,2 EBITDA 1 1,0 0,6 1 EBIT 0 0 2011 2012 2013 2014 2012 2013 2014 20
Slide 11: Generation Figures
Generation Figures 11
Slide 12: Nuclear - Location of generation assets
Generation - Nuclear Nuclear - Location of generation assets Generations capacity accounted 1 2014 in % 2013 in % 2012 in % Germany 5.746 MW 70 5.746 MW 70 5.746 MW 70 Sweden 2.511 MW 30 2.511 MW 30 2.511 MW 30 Total 8.257 MW 100 8.257 MW 100 8.257 MW 100 Generations capacity pro rata 1 2014 in % 20
Slide 13: Nuclear - Power stations
Generation - Nuclear Nuclear - Power stations Germany 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up Shutdown holders dation2 (net MW) in % (MW) (MW) date date Brokdorf E.ON/VE 2 1.410 80,0 1.128 1.410 1986 2021 Emsland E.ON/RWE 3 1.329 12,5 166 0 1988 2022 Grafenrheinfeld E.ON
Slide 14: Nuclear - Long term contracts
Generation - Nuclear Nuclear - Long term contracts Long term contracts - Delivered Share- C onsoli- C apacity E.ON Share Pro rata Delivered Partner holders dation1 (net MW) in % (MW) (MW) Gundremmingen B RWE/E.ON 1 1.284 25.0 321 171 EnBW Gundremmingen C RWE/E.ON 1 1.288 25.0 322 172 EnBW Grohnde E.
Slide 15: Steam - Location of generation assets
Generation - Steam Steam - Location of generation assets Generations capacity accounted 1 2014 in % 2013 in % 2012 in % Germany 8.705 MW 52 9.008 MW 52 9.741 MW 49 UK 2.836 MW 17 2.069 MW 12 3.005 MW 15 Sweden 996 MW 6 1.004 MW 6 1.004 MW 5 France 1.190 MW 7 1.880 MW 11 2.350 MW 12 Netherlands/Belgi
Slide 16: Steam - Power stations (I/II)
Generation - Steam Steam - Power stations (I/II) Germany 1 Share- C onsoli- Fuel Type 3 C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Knepper C 5 E.ON 2 HC 345 100,0 345 345 1971 GKW Weser/Veltheim 3 E.ON/SW Bielefeld 2 HC 303 66,6 202 303 1970 GKW/Ve
Slide 17: Steam - Power stations (II/II)
Generation - Steam Steam - Power stations (II/II) Sweden1 Share- C onsoli- Fuel Type 3 C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Karlshamn G1 E.ON Sverige 2 O 334 100,0 334 334 1969 Karlshamn G2 E.ON Sverige 2 O 334 100,0 334 334 1971 Karlshamn G3
Slide 18: Steam - Change of portfolio
Generation - Steam Steam - Change of portfolio Germany 1 Share- Interest Type of Pro rata Accounting C hange in Pro rata Accounting holders in % movement (MW) 2014 (MW) 2014 interest % (MW) 2013 (MW) 2013 Datteln 1 E.ON 100 decommissioning 0 0 -100 95 95 Datteln 2 E.ON 100 decommissioning 0 0 -100 9
Slide 19: Steam - Mothballed assets and long term contracts
Generation - Steam Steam - Mothballed assets Mothballed Steam power plants Share- Fleet C ountry E.ON Share Pro rata Accounting holders in % (MW) (MW) GKW/Veltheim 4 ST E.ON/SW Bielefeld Steam Germany 66,7 223 335 Emile Huchet 5 E.ON Steam France 100,0 330 330 Lucy 3 E.ON Steam France 100,0 245 245
Slide 20: CCGT - Location of generation assets
Generation - CCGT CCGT - Location of generation assets Generations capacity accounted 1 2014 in % 2013 in % 2012 in % Germany 1.989 MW 13 1.989 MW 14 1.989 MW 13 UK 4.630 MW 31 4.575 MW 31 4.575 MW 29 Sweden 1.014 MW 7 1.014 MW 7 1.014 MW 6 France 828 MW 6 828 MW 6 828 MW 5 Italy 3.710 MW 25 3.302,5
Slide 21: CCGT - Power stations (I/II)
Generation - CCGT CCGT - Power stations (I/II) Germany 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Irsching 3 E.ON 2 415 100,0 415 415 1974 Irsching 4 E.ON 2 550 100,0 550 550 2011 Irsching 5 E.ON/Other 2 846 50,2 425 846 2010 Kir
Slide 22: CCGT - Power stations (II/II)
Generation - CCGT CCGT - Power stations (II/II) France 1 Share- C onsoli- C apacity(net MW) E.ON Share Pro rata Accounting Start-up holders dation2 in % (MW) (MW) date Emile Huchet 7 E.ON 2 414 100,0 414 414 2010 Emile Huchet 8 E.ON 2 414 100,0 414 414 2010 Total 828 828 828 Italy 1 Share- C onsoli-
Slide 23: CCGT - Change of portfolio, mothballed assets
Generation - CCGT CCGT - Change of portfolio Other EU countries 1 Share- Interest Type of Pro rata Accounting C hange in Pro rata Accounting holders in % movement (MW) 2014 (MW) 2014 interest % (MW) 2013 (MW) 2013 Scandale E.ON 50 consolidation method 407 407 0 407 0 Grain Aux GT1 E.ON 100 change fr
Slide 24: Content
Content E.ON Group 3 Generation 8 Renewables 25 Exploration & Production 50 Global Commodities 59 Germany 69 Other EU countries 81 Russia 119 ENEVA 125 Enerjisa 131
Slide 25: E.ON Renewables
E.ON Renewables Germany - France - Spain - Portugal - Italy - Poland - U.K. - Denmark - Sweden - US 25
Slide 26: E.ON Climate & Renewables
E.ON Climate & Renewables E.ON Climate & Renewables is responsible for E.ON’s industrial-scale renewable energy activities Develops, builds and operates large renewable energy assets, primarily in Europe and North America Its technology portfolio covers onshore and offshore wind, concentrating solar
Slide 27: E.ON Climate & Renewables
E.ON Climate & Renewables Major investment projects Offshore wind farm: Amrumbank COD2: 3rd quarter 2015 Capex: € 1,0 bn Capacity: 288 MW Offshore wind farm: Humber COD2: 3rd quarter 2015 Capex: € 1,0 bn Capacity: 219 MW €bn 2011 - 2014 EBITDA €bn 2012 - 2015 Capex1 2 1,8 ECR Hydro 2 1,2 1,2 1 0,9 0
Slide 28: Renewables Figures
Renewables Figures 28
Slide 29: Generation capacity and output by technology
Renewables Generation capacity and output by technology Generation capacity (MW) - Accounting View 1 2014 in % 2013 in % 2012 in % Hydro 4.783 MW 55 4.855 MW 48 5.051 MW 52 Onshore wind 3.342 MW 38 3.694 MW 37 4.044 MW 42 Offshore wind 481 MW 6 688 MW 7 451 MW 5 Biomass 2 0 MW 0 783 MW 8 43 MW 0 Sma
Slide 30: Generation capacity and output by country (I/II)
Renewables Generation capacity and output by country (I/II) Generation capacity (MW) - Accounting View 1 2014 in % 2013 in % 2012 in % USA 1.888 MW 22 2.294 MW 23 2.724 MW 28 UK 683 MW 8 1.485 MW 15 481 MW 5 Italy 905 MW 10 910 MW 9 905 MW 9 Spain 946 MW 11 951 MW 9 950 MW 10 Germany 2.198 MW 25 2.2
Slide 31: Generation capacity and output by country (II/II)
Renewables Generation capacity and output by country (II/II) Generation output (TWh) - Accounting View 1 2014 in % 2013 in % 2012 in % USA 7,4 TWh 28 7,2 TWh 25 6,9 TWh 24 UK 2,0 TWh 8 2,8 TWh 10 1,5 TWh 5 Italy 2,5 TWh 9 2,7 TWh 9 1,6 TWh 6 Spain 2,0 TWh 8 2,0 TWh 7 1,6 TWh 6 Germany 5,0 TWh 19 6,4
Slide 32: Change of portfolio (excluding Hydro)
Renewables Change of portfolio (excluding Hydro) Germany 1 Share- Interest Type of Pro rata Accounting C hange in Pro rata Accounting holders in % movement (MW) 2014 (MW) 2014 interest % (MW) 2013 (MW) 2013 Miltzow edis 67 correction 9 14 - 3 4 Total 9 14 3 4 Other EU countries 1 Share- Interest Typ
Slide 33: Change of portfolio (Hydro), long term contracts
Renewables Change of portfolio (Hydro) Germany 1 Share- Interest Type of Pro rata Accounting C hange in Pro rata Accounting holders in % movement (MW) 2014 (MW) 2014 interest % (MW) 2013 (MW) 2013 Hydro Others (<10 MW) 266 266 266 333 Faimingen E.ON/Other 2 46,5 change in cons. 5 0 5 10 Höchstädt E.
Slide 34: Renewables Figures (Country Overview)
Renewables Figures (Country Overview) 34
Slide 35: Renewables Germany
Renewables Renewables Germany Onshore wind parks 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date C uxhaven E.ON/RWE 3 5 50 3 0 2006 Schönerlinde II E.ON/Other 3 2 47 1 0 2002 Windpark Dargelütz E.ON 2 22 100 22 22 2006 Windpark Treue
Slide 36: Hydro Germany (I/II)
Renewables Hydro Germany (I/II) Hydro - Proprietary - Run of River 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Obernach E.ON 2 13 100 13 13 1955 Mühltal E.ON 2 11 100 11 11 1924 Aufkirchen D+E E.ON 2 27 100 27 27 1924 Eitting D+E
Slide 37: Hydro Germany (II/II)
Renewables Hydro Germany (II/II) Hydro - Proprietary - Storage 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Walchenseekraftwerk D+E E.ON 2 124 100 124 124 1924 Roßhaupten E.ON 2 46 100 46 46 1954 Bringhausen E.ON 2 70 100 70 70 193
Slide 38: Renewables France
Renewables Renewables France Onshore wind parks 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Lehaucourt E.ON 2 10 100 10 10 2007 Ambon E.ON 2 10 100 10 10 2008 LV C ernon E.ON 2 10 100 10 10 2008 Muzillac E.ON 2 10 100 10 10 2008 C
Slide 39: Renewables Spain
Renewables Renewables Spain Onshore wind parks 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Ascoy E.ON/Elecdey 3 8 20 1 0 2003 Bodenaya E.ON 2 18 100 18 18 2005 La Victoria E.ON 2 24 100 24 24 2010 C arcelén E.ON/EDP 3 50 23 11 0 2
Slide 40: Hydro Spain
Renewables Hydro Spain Hydro 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Remolina E.ON 2 83 100 83 83 1990 Arenas E.ON 2 8 100 8 8 1958 Urdón E.ON 2 6 100 6 6 1910 C amarmeña E.ON 2 11 100 11 11 1921 La Paraya E.ON 2 3 100 3 3 191
Slide 41: Renewables Poland
Renewables Renewables Poland Onshore wind parks 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Lebcz 1 (Gdańsk) edis 2 8 67 5 8 2007 Lebcz 2 (Gdańsk) edis 2 10 67 7 10 2008 Wielkopolska E.ON 2 53 100 53 53 2010 Wielkopolska 2a E.ON 2
Slide 42: Renewables Italy
Renewables Renewables Italy Onshore wind parks 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Alcamo E.ON 2 32 100 32 32 2011 Florinas E.ON 2 20 100 20 20 2004 Vizzini E.ON 2 24 100 24 24 2006 Montecute E.ON 2 44 100 44 44 2006 Poggi
Slide 43: Hydro Italy
Renewables Hydro Italy Hydro 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Baschi-Alviano E.ON 2 98 100 98 98 1963/64 C otilia E.ON 2 48 100 48 48 1942 Galletto M.S. Angelo E.ON 2 210 100 210 210 1928/71 Galletto Pennarossa E.ON 2 7
Slide 44: Renewables Portugal
Renewables Renewables Portugal Onshore wind parks Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Joguinho (Torres Vedras) E.ON/Valouro Group 3 26 45 12 0 2007 Alto de Folgorosa E.ON/Valouro Group 3 18 45 8 0 2009 Espinhaço de C ao E.ON
Slide 45: Renewables UK
Renewables Renewables UK Onshore wind parks 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up ROC s3 holders dation2 (net MW) in % (MW) (MW) date Stags Holt E.ON 2 20 100 20 20 2007 1 Bowbeat E.ON 2 31 100 31 31 2002 Deucheran Hill E.ON 2 16 100 16 16 2002 Haswell Moor E.ON 2 10 1
Slide 46: Renewables Denmark and Sweden
Renewables Renewables Denmark and Sweden Onshore wind1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Boel (Malmö) E.ON 2 2 100 2 2 2001 Lundåkra 1 & 2 (Landskrona) E.ON 2 4 100 4 4 2003 Lundåkra 3 & 4 (Landskrona) E.ON 2 5 100 5 5 200
Slide 47: Hydro Denmark and Sweden
Renewables Hydro Denmark and Sweden Hydro 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up holders dation2 (net MW) in % (MW) (MW) date Bålforsen E.ON Sverige 2 88 100 88 88 1958 Bergeforsen E.ON Sverige/Vattenfall 3 155 43 67 0 1959 Blåsjön E.ON Sverige/Fortum 3 60 50 30 0 1957
Slide 48: Renewables USA
Renewables Renewables USA Onshore wind parks 1 Share- C onsoli- C apacity E.ON Share Pro rata Accounting Start-up PPA %4 holders dation2 (net MW) in % (MW) (MW) date Forest C reek E.ON 2 124 100 124 124 2007 100% Sand Bluff E.ON 2 90 100 90 90 2008 0% Munnsville E.ON 2 35 100 35 35 2007 100% Roscoe
Slide 49: Content
Content E.ON Group 3 Generation 8 Renewables 25 Exploration & Production 50 Global Commodities 59 Germany 69 Other EU countries 81 Russia 119 ENEVA 125 Enerjisa 131
Slide 50: Exploration & Production
Exploration & Production Babbage - Elgin Franklin - Huntington - Njord - Skarv - Yuzhno Russkoye 50
Slide 51: E.ON Exploration and Production
E.ON Exploration and Production E&P business commenced in 2003 after acquisition of Ruhrgas by E.ON Focus on selected hydrocarbon provinces: Offshore UK and Norway and Russia Portfolio managed across whole E&P value chain: exploration, development and production Major events 2014 E&P Production reco
Slide 52: E.ON Exploration and Production
E.ON Exploration and Production €bn 2011 - 2014 EBIT / EBITDA €bn 2012 - 2015 Capex 1 1,1 1,1 1 0,6 0,7 0,6 EBITDA 0,4 0,5 0,5 0,5 0,3 EBIT 0,2 0,1 0 0 2011 2012 2013 2014 2012 2013 2014 2015E 1. End of the graph indicates when projects are expected to be ready for operation 52
Slide 53: E.ON Exploration and Production: North Sea
E.ON Exploration and Production: North Sea Major portfolio development steps: Elgin-Franklin (2003), Njord (2003 & 2005), Caledonia (2005), Skarv (2007) Norwegian Sea Interest in % Skarv/Idun 28,1 Njord 30,0 Hyme 17.5 Central North Sea Interest in % Elgin/Franklin 5,2 Scoter 12,0 West Franklin 5,2 M
Slide 54: Achieved prices North Sea production
E.ON Exploration and Production: North Sea Some hedging of Norwegian gas and UK oil and gas production Achieved prices North Sea production 120 50 90 97 40 92 €/MWh 88 $/bbl 60 26 27 30 24 30 20 0 10 2012 2013 2014 Liquids - LHS Brent - LHS Gas - RHS NBP - RHS 54
Slide 55: E.ON Exploration and Production: Russia
E.ON Exploration and Production: Russia Yuzhno Russkoye: E.ON share 25% Production: Start of production Q4/2007 Total production 2014: 6.24 BCM (25%) Plateau production of approximately 25 bcm/a (100%) Reserves: Proven and probable reserves of ca. 610 billlion m3 (100%) or at least 35 year
Slide 56: Exploration & Production Figures
Exploration & Production Figures 56
Slide 57: North Sea Production Fields
Exploration & Production North Sea Production Fields (E.ON share net volumes) UK Liquids (mboe) Liquids and Gas (mboe) Gas (mboe) 2014 2013 2012 2014 2013 2012 2014 2013 2012 Huntington 1,07 0,74 0,00 1,25 0,82 0,00 0,18 0,08 0,00 Elgin Franklin 0,43 0,30 0,25 0,91 0,57 0,53 0,48 0,27 0,28 Babbage 0
Slide 58: Content
Content E.ON Group 3 Generation 8 Renewables 25 Exploration & Production 50 Global Commodities 59 Germany 69 Other EU countries 81 Russia 119 ENEVA 125 Enerjisa 131
Slide 59: E.ON Global Commodities
E.ON Global Commodities Coal, Oil, Freight & LNG - Power & Gas - Infrastructure & Other 59
Slide 60: E.ON Global Commodities
E.ON Global Commodities Centre of expertise for risk management and asset optimization, managing up to 90% of unregulated energy commodity price risks for the E.ON Group From the optimization and hedging of E.ON’s power and gas portfolio to the sourcing, storage, transport and marketing of global ph
Slide 61: E.ON Global Commodities
E.ON Global Commodities Broad global footprint In addition regional power and gas dispatch services are provided to EGC in Malmö and Sundsvall, Sweden, Saint-Avold, France, and Rotterdam. €bn 2011 - 2014 EBIT / EBITDA €bn 2012 - 2015 Capex 1,5 1,4 0,4 1,2 0,3 1,0 EBITDA 0,3 EBIT 0,2 0,5 0,3 0,2 0,2
Slide 62: Global Commodities: Coal, Oil, Freight & LNG
E.ON Global Commodities: Coal, Oil, Freight & LNG E.ON Global Commodities imported over 14 mt of steam coal in LNG total regas capacity (bcm/a) 2014 from different countries for the Group’s own power plants E.ON is a founding member of Bettercoal, an initiative launched 8 by European companies to pr
Slide 63: Global Commodities: Power & Gas
E.ON Global Commodities: Power & Gas E.ON’s exclusive interface to wholesale markets with a single, integrated view of all markets and assets Monetizing asset base - Enhancing asset base through origination - Hedging and de-risking One of Europe’s most active power & carbon market participants: op
Slide 64: Global Commodities: Gas Transport
E.ON Global Commodities: Gas Transport Enabler for commodity business: securing new supplies, enhancing market liquidity Shareholder position in Infrastructure Joint Ventures throughout project’s life cycle Strong financial contribution: pipeline assets in operation provide attractive returns and st
Slide 65: Global Commodities: Gas Storage
E.ON Global Commodities: Gas Storage Unbundled gas storage operator in accordance with German and European regulatory requirements Focus business areas: Gas storage capacities (bcm)1 Technical and commercial development of storage projects 12 Construction and operation of underground storage fac
Slide 66: Global Commodities Figures
Global Commodities Figures 66
Slide 67: Gas Storage - Asset Portfolio
Global Commodities Gas Storage - Asset Portfolio Germany Sto rage Capacity Withdrawal Rate Injectio n Rate Wo rking Gas A pplicatio n (millo n m 3) (M W/h) (M W/h) Cap. (GWh) Bierwang 1.000 13,320 7,831 11,200 Mainly seasonal use Breitbrunn 992 5,824 2,800 11,110 Seasonal use Epe H-Gas 1.477 19,720
Slide 68: Content
Content E.ON Group 3 Generation 8 Renewables 25 Exploration & Production 50 Global Commodities 59 Germany 69 Other EU countries 81 Russia 119 ENEVA 125 Enerjisa 131
Slide 69: Germany
Germany Distribution - Sales - Distributed Energy 69
Slide 70: E.ON Germany
E.ON Germany The segment groups activities in the fields of power & gas distribution networks, sales and distributed energy solutions in Germany Distribution: leading player in the German distribution grid landscape with four network companies Hansewerk, E.DÌS, Avacon and Bayernwerk Sales: E.ON Ener
Slide 71: E.ON Germany
E.ON Germany €bn 2011 - 2014 EBIT / EBITDA1 €bn 2012 - 2015 Capex 2 3 2,7 2,5 2,4 1,8 1,8 2 1,8 1,7 1,1 1,0 1,5 EBITDA 1 0,7 0,8 1 EBIT 0 0 2011 2012 2013 2014 2012 2013 2014 2015E 1. Fiscal Year 2011 and 2012 as reported, unadjusted 71
Slide 72: E.ON Germany - Distribution
E.ON Germany - Distribution Germany’s largest operator of electricity and gas distribution % We make every effort grids supplying several million customers 100 99,199,4 to further enhance our high level of 97,6 More than 35% of the renewable capacities installed in 98 96,9 performance Germany conn
Slide 73: E.ON Germany - Distribution
E.ON Germany - Distribution Network length (tkm) - Power1 Network length (tkm) - Gas1 2014 21% 2014 11% 2013 19% 2013 14% 2012 28% 2012 22% 0 100 200 300 400 500 600 0 20 40 60 80 Market share (based on network length) Market share (based on network length) Electricity Vol. Grid Conduct (TWh) Gas Vo
Slide 74: E.ON Germany - Distribution
E.ON Germany - Distribution Process steps of regulatory system every 5 years Cost Audit Revenue cap incentive regulation + Cost audit and benchmarking once per regulatory period (5 years) Benchmarking Total costs of historic year basis for benchmarking & revenue cap Efficiency level determin
Slide 75: Germany - Distribution: Power distribution regulation
E.ON Germany - Distribution Power distribution1 1st regulatory period 2nd regulatory period 3rd • Cost of base year 2011 is basis for allowed revenues from 2014 onwards • Regulatory cost audit and benchmarking took place from mid 2012 to end 2013 Base year • Replacement investments in the years 2012
Slide 76: Germany - Distribution: Composition of cost base
E.ON Germany - Distribution Composition of cost base Cost base = Allowed Cost structure of efficient system operator OPEX Including actual cost of debt + Equity financed part of the Regulated Asset Allowed Base up to a maximum equity level of 40% Return on equity multiplied with 9.05% (nominal
Slide 77: E.ON Germany - Sales
E.ON Germany - Sales The energy partner for electricity, natural gas, and services throughout Germany Wide range of services for residential, commercial, and industrial customers Innovation and distributed solutions as a contribution to the energy turnaround More than six million homes supplied with
Slide 78: E.ON Germany - Sales
E.ON Germany - Sales1 Power supplied (TWh)2 Gas supplied (TWh)2 2014 23% 2014 47% 2013 27% 2013 41% 2012 32% 2012 46% 0 50 100 150 200 0 100 200 300 400 500 600 Market share Market share Power - Sales by customer segments (TWh) Gas - Sales by customer segments (TWh) 2014 2014 2013 2013 2012 2012 0 5
Slide 79: E.ON Germany - Distributed Energy
E.ON Germany - Distributed Energy Solutions by E.ON Deutschland for SMEs, municipalities and residential customers Strong regional presence and wealth of experience Customized energy solutions More than 4,000 distributed systems implemented Current focus on heat and CHP1 solutions More than 220 grou
Slide 80: Content
Content E.ON Group 3 Generation 8 Renewables 25 Exploration & Production 50 Global Commodities 59 Germany 69 Other EU countries 81 Russia 119 ENEVA 125 Enerjisa 131
Slide 81: Other EU Countries
Other EU Countries U.K. - Sweden - France - Netherlands - Hungary - Czechia - Slovakia - Romania 81
Slide 82: E.ON - Other EU Countries
E.ON - Other EU Countries Other EU Countries include the power & gas distribution networks, sales, and distributed energy solutions businesses in 8 EU countries outside Germany Significant market share of up to 60% in some distribution markets Supplies power and gas to over 246 million domestic, sma
Slide 83: E.ON - Other EU Countries
E.ON - Other EU Countries €bn 2011 - 2014 EBIT / EBITDA €bn 2012 - 2015 Capex 3 2 2,3 2,0 2,0 2 1,7 1,1 1,5 1,4 1,1 1,0 1,3 EBITDA 1,1 1 0,9 1 EBIT 0 0 2011 2012 2013 2014 2012 2013 2014 2015E 83
Slide 84: Other EU Countries - Distribution
E.ON Other EU Countries - Distribution Ownership and operation of electricity and gas distribution Quality of electricity supply (SAIDI, min)1 networks (mainly medium and low voltage) Given their character as natural monopolies, distribution Romania 642 networks in Europe underlay strict national re
Slide 85: Other EU Countries - Sales
E.ON Other EU Countries - Sales Offer a wide range of innovative energy efficiency products Residential customer accounts (m) and services Romania 3,0 E.ON U.K has met all its targets under the Energy Company Obligation (ECO) scheme, ahead of the Government's March Slovakia 0,9 2015 deadline. The co
Slide 86: Other EU Countries - Distributed Energy
E.ON Other EU Countries - Distributed Energy Distributed energy technologies are playing a key role in transforming the way we generate energy Distributed energy solutions compliment tried and tested generation networks whilst allowing users to save cost and carbon Significant district heating busin
Slide 87: Other EU Countries - Major Shareholdings
E.ON Other EU Countries - Major Shareholdings E.ON Sweden E.ON France Entity Interest in % Entity Interest in % Oskarshamn Energi AB 50,0 E.ON France Energy Solutions SAS 100,0 Elverket Vallentuna AB 43,4 E.ON France Power SAS 100,0 Kalmar Holding AB 50,0 E.ON Netherlands E.ON Czech Entity Interest
Slide 88: E.ON U.K.
Other EU Countries E.ON U.K. 88
Slide 89: U.K. - Sales
E.ON U.K. - Sales1 Power supplied (TWh) Gas supplied (TWh) 2014 16% 2014 10% 2013 16% 2013 11% 2012 16% 2012 12% 43 45 47 49 51 0 20 40 60 80 Market share Market share Power - Sales by customer segments (TWh) Gas - Sales by customer segments (TWh) 2014 2014 2013 2013 2012 2012 0 10 20 30 40 50 60 0
Slide 90: E.ON Sweden
Other EU Countries E.ON Sweden 90
Slide 91: Sweden - Distribution
E.ON Sweden - Distribution Network length (tkm) - Power Network length (tkm) - Gas 2014 25% 2014 60% 2013 25% 2013 60% 2012 25% 2012 60% 126 128 130 132 134 136 1,70 1,80 1,90 2,00 Market share (based on network length) Market share (based on network length) Electricity Vol. Grid Conduct (TWh) Gas V
Slide 92: Sweden - Distribution price regulation
E.ON Sweden - Distribution • Quality factor with +-3% revenues based on unplanned and planned SAIDI & SAIFI1 values (HV: ENS)2 • Major penalty schemes for long duration outages (>12h) effectively hitting up to 10% of EBITDA Price regulation power - Overview Price regulation power - Key cost factors
Slide 93: Sweden - Sales
E.ON Sweden - Sales1 Power supplied (TWh) Gas supplied (TWh) 2014 11% 2014 19% 2013 11% 2013 19% 2012 n/a 2012 19% 13,0 13,5 14,0 14,5 15,0 15,5 0 1 2 3 4 Market share Market share Power - Sales by customer segments (TWh) Gas - Sales by customer segments (TWh) 2014 2014 2013 2013 2012 2012 0 5 10 15
Slide 94: Sweden - District Heating
E.ON Sweden - District Heating E.ON's district heating activities E.ON is the 2nd largest actor on Swedish District Heating market (in volumes) District Heating has a green profile - fuel mainly based on bio fuels and waste High product quality - security of supply, comfort, price competitive Distri
Slide 95: E.ON France
Other EU Countries E.ON France 95
Slide 96: France - Sales
E.ON France - Sales1 Power supplied (TWh)2 Gas supplied (TWh)2 2014 3% 2014 1% 2013 2% 2013 1% 2012 2% 2012 1% 0 5 10 15 0 2 4 6 Market share Market share Power - Sales by customer segments (TWh) Gas - Sales by customer segments (TWh) 2014 2014 2013 2013 2012 2012 0 5 10 15 20 0 2 4 6 8 10 I&C Sales
Slide 97: E.ON Netherlands
Other EU Countries E.ON Netherlands 97
Slide 98: Netherlands - Sales
E.ON Netherlands - Sales1 Power supplied (TWh)2 Gas supplied (TWh)2 2014 6% 2014 1% 2013 6% 2013 1% 2012 6% 2012 1% 10,0 10,5 11,0 11,5 12,0 0 1 2 3 4 5 6 Market share Market share Power - Sales by customer segments (TWh) Gas - Sales by customer segments (TWh) 2014 2014 2013 2013 2012 2012 0,0 5,0 1
Slide 99: E.ON Hungary
Other EU Countries E.ON Hungary 99
Slide 100: Hungary - Distribution
E.ON Hungary - Distribution Network length (tkm) - Power Network length (tkm) - Gas 2014 16% 2014 22% 2013 15% 2013 22% 82 83 84 85 17,0 17,4 17,8 18,2 Market share (based on network length) Market share (based on network length) Electricity Vol. Grid Conduct (TWh) Gas Vol. Grid Conduct (TWh) 2014 2
Slide 101: Hungary - Distribution: Price regulation power
E.ON Hungary - Distribution Price regulation power Unplanned SAIDI, SAIFI1 and an outage rate min. level defined. 3-fold sanctions possible if non compliant in 3-years average Price regulation power - Overview Price regulation power - Key cost factors • Method: modified price cap with real quantity
Slide 102: Hungary - Distribution: Price regulation gas
E.ON Hungary - Distribution Price regulation gas Quality regulation on outages: complex index (of consumers affected and length of outage), index on outage length and index on the number of outages. Price regulation gas - Overview Price regulation gas - Key cost factors • Method: price cap • Regulat
Slide 103: Hungary - Sales
E.ON Hungary - Sales1 Power supplied (TWh) Gas supplied (TWh) 2014 34% 2014 11% 2013 33% 2013 10% 2012 34% 2012 9% 11,5 11,6 11,7 11,8 8,2 8,4 8,6 8,8 9,0 9,2 Market share Market share Power - Sales by customer segments (TWh) Gas - Sales by customer segments (TWh) 2014 2014 2013 2013 2012 2012 0 5 1
Slide 104: E.ON Czech
Other EU Countries E.ON Czech 104
Slide 105: Czech - Distribution
E.ON Czech - Distribution1 Network length (tkm) - Power Network length (tkm) - Gas 2014 28% 2014 6% 2013 28% 2013 12% 2012 28% 2012 12% 65,0 65,4 65,8 0 4 8 12 Market share (based on network length) Market share (based on network length) Electricity Vol. Grid Conduct (TWh) Gas Vol. Grid Conduct (TWh
Slide 106: Czech - Distribution: Price regulation power
E.ON Czech - Distribution • Quality factor applied since 2013 • Customer contributions (BKZ) add to the RAB, 80% of the BKZ release is deducted from network fees Price regulation power - Overview Price regulation power - Key cost factors • Method: revenue cap • Regulated return on RAB (pre-tax) aver
Slide 107: Czech - Distribution: Price regulation gas
E.ON Czech - Distribution1 Quality factor currently not applied Price regulation gas - Overview Price regulation gas - Key cost factors • Method: revenue cap • Regulated return on RAB (pre-tax) average in 3rd period: • Regulation period: 2010-2014 (3rd), prolonged by one year 7.1% 2015 • Depreciatio
Slide 108: Czech - Sales
E.ON Czech - Sales1,2 Power supplied (TWh) Gas supplied (TWh) 2014 20% 2014 8% 2013 20% 2013 22% 2012 21% 2012 21% 9,9 10,0 10,1 10,2 10,3 0 5 10 15 20 Market share 2 Market share2 Power - Sales by customer segments (TWh) Gas - Sales by customer segments (TWh) 2014 2014 2013 2013 2012 2012 0 5 10 15
Slide 109: E.ON Slovakia
Other EU Countries E.ON Slovakia 109
Slide 110: Slovakia - Distribution
E.ON Slovakia - Distribution Network length (tkm) - Power 2014 40% 2013 40% 2012 40% 36,6 36,8 37,0 37,2 37,4 37,6 Market share (based on network length) Electricity Vol. Grid Conduct (TWh) 2014 2013 2012 8,5 8,6 8,7 8,8 8,9 Network Quality (SAIDI, min)1 2014 2013 2012 0 100 200 300 400 1. SAIDI = S
Slide 111: Slovakia - Distribution price regulation
E.ON Slovakia - Distribution Automatic compensations for violated quality standards towards customers applied from 1 January 2014 (i.e. customers are compensated automatically by DSOs / Suppliers without any request for the compensations) Price regulation power - Overview Price regulation power - Ke
Slide 112: Slovakia - Sales
E.ON Slovakia - Sales1 Power supplied (TWh) Gas supplied (TWh) 2014 21% 2014 2% 2013 22% 2013 <1% 2012 23% 2012 1% 5,5 5,9 6,3 6,7 0,0 0,4 0,8 1,2 Market share2,4 Market share2 Power - Sales by customer segments (TWh) Gas - Sales by customer segments (TWh) 2014 2014 2013 2013 2012 2012 0 2 4 6 8 0 0
Slide 113: E.ON Romania
Other EU Countries E.ON Romania 113
Slide 114: Romania - Distribution
E.ON Romania - Distribution Network length (tkm) - Power Network length (tkm) - Gas 2014 17% 2014 54% 2013 17% 2013 54% 2012 n/a 2012 n/a 80,25 80,35 80,45 80,55 19,95 20,05 20,15 20,25 20,35 Market share (based on network length) Market share (based on network length) Electricity Vol. Grid Conduct
Slide 115: Romania - Distribution: Price regulation power
E.ON Romania - Distribution Quality factor not active up to now Price regulation power - Overview Price regulation power - Key cost factors • Method: price cap - tariffs basket • Regulated return on RAB (pre-tax): 8.52% in 2014 & 7.7% • Regulation period: 2014 - 2018 (3rd) as of 1 Jan 2015 • • Basic
Slide 116: Romania - Distribution: Price regulation gas
E.ON Romania - Distribution Quality factor not active up to now Price regulation gas - Overview Price regulation gas - Key cost factors • Method: price cap • Regulated return on RAB (pre-tax): 8.43% + 1.4% incentive • Regulation period: 2013 - 2017 (3rd) for specific investments in core assets (e.g.
Slide 117: Romania - Sales
E.ON Romania - Sales1 Power supplied (TWh) Gas supplied3 (kWh) 2014 n/a 2014 23% 2013 9% 2013 21% 2012 9% 2012 23% 3,2 3,4 3,6 3,8 4 22 24 26 28 30 32 Market share2 Market share4 Power - Sales by customer segments (TWh) Gas - Sales by customer segments (TWh) 2014 2014 2013 2013 2012 2012 0 2 4 6 8 0
Slide 118: Content
Content E.ON Group 3 Generation 8 Renewables 25 Exploration & Production 50 Global Commodities 59 Germany 69 Other EU countries 81 Russia 119 ENEVA 125 Enerjisa 131
Slide 119: E.ON Russia
E.ON Russia Surgutskaya - Yavinskaya - Shaturskaya - Smolenskaya - Berezovskaya 119
Slide 120: E.ON Russia
E.ON Russia E.ON is the majority shareholder (83.7%) of E.ON Russia - shares are listed at MICEX Stock Exchange E.ON Russia is acting in the wholesale electricity market - it generates and trades electric and heat power and supplies heat Accounts for roughly 6% of total electricity production and 5%
Slide 121: E.ON Russia
E.ON Russia EBITDA break down 20141 100% Old capacity: Capacity payments supposed to cover opex 50% New capacity: Capacity payments supposed to cover fixed costs and ensure capital remuneration Marginal pricing Price driven by cost of fuel, supply-demand balance and grid infrastructure 0% DAM CSA KO
Slide 122: E.ON Russia Figures
E.ON Russia Figures 122
Slide 123: Assets in Russia
E.ON Russia Assets in Russia Electric power stations 1 Share- Fuel Type 3 C apacity Load factor Efficiency C ap. Pay. E.ON Share Pro rata Accounting Start-up holders (net MW) in % in % KOM 20144 in % (MW) (MW)4 date Surgutskaya GRES-2 E.ON Gas 4.680 80 41 141 645 83,73 3.919 4.680 1985-1988 Surgutsk
Slide 124: Content
Content E.ON Group 3 Generation 8 Renewables 25 Exploration & Production 50 Global Commodities 59 Germany 69 Other EU countries 81 Russia 119 ENEVA 125 Enerjisa 131
Slide 125: ENEVA
ENEVA Generation 125
Slide 126: ENEVA
ENEVA ENEVA is a Brazil based power generator and trading company on complementary business interest in natural gas exploration and production E.ON owns 43% (at equity) and performs joint control over the company 2.2 GW in operation. Pro rata capacity of 1.7 GW Major events 2014 Due to the lack of l
Slide 127: ENEVA
ENEVA Availability Q1 - Q3 20141 87% Itaqui 77% 75% 77% Pecém II 96% 97% 91% Parnaíba I 94% 99% 82% Parnaíba III 77% 99% 84% Parnaíba IV 80% 99% 0% 20% 40% 60% 80% 100% Q3 Q2 Q1 Revenue Q1 - Q3 20141 EBITDA Q1 - Q3 20141 BRLbn BRLbn 0,59 0,6 0,49 0,12 0,10 0,4 0,35 0,1 0,08 0,2 0,0 0,0 Q1 Q2 Q3 Q1 Q
Slide 128: ENEVA Figures
ENEVA Figures 128
Slide 129: ENEVA - Power stations
ENEVA ENEVA - Power stations Power stations in operation 1,2 Fuel Type Share- Annual capacity C apacity Eneva Pro rata Accounting Start-up holders payments 3 (net MW) Share (MW) (MW)5 date Pecém II C oal ENEVA/E.ON 307 365 50 183 - 2013 Amapari Diesel ENEVA/Eletronorte - 23 51 12 23 - Itaqui C oal E
Slide 130: Content
Content E.ON Group 3 Generation 8 Renewables 25 Exploration & Production 50 Global Commodities 59 Germany 69 Other EU countries 81 Russia 119 ENEVA 125 Enerjisa 131
Slide 131: Enerjisa
Enerjisa Generation - Distribution - Sales 131
Slide 132: Enerjisa
Enerjisa Enerjisa is a Joint Venture of Sabanci Holding and E.ON SE - both hold a 50% stake Business activities in generation, distribution, wholesale and retail sales in the Turkish electricity sector 2,5 GW of generation capacity in operation (status February 2015) 1,5 GW of generation capacity un
Slide 133: Enerjisa
Enerjisa Debt structure1,2 100% 100% 50% 56% 50% 50% 50% 44% 0% 0% FX TL Fixed Floating Sales Q1 - Q3 20141 EBITDA Q1 - Q3 20141 TL bn TL bn 2,87 0,3 3,0 2,64 2,62 0,24 0,22 0,23 2,0 0,2 1,0 0,1 0,0 0,0 Q1 Q2 Q3 Q1 Q2 Q3 1. Sabanci's earning releases 2. FX = Foreign Currency Effects, TL= Turkish lir
Slide 134: Enerjisa Figures
Enerjisa Figures 134
Slide 135: Enerjisa's generation Assets in Turkey
Enerjisa Enerjisa's generation Assets in Turkey Assets in operation 1 Fuel Type Share- C onsoli- C apacity Enerjisa Share Pro rata Accounting Power output Start-up holders dation (net MW) in % (MW) (MW)3 (TWh) date Bandırma-I Gas Enerjisa Full 936 100 936 936 7,1 2010 Kentsa Gas Enerjisa Full 120 10