Acwa Power · TADAWUL:2082
Acwa Power — H1 2021 Earnings Presentation
10 slides from Acwa Power's earnings presentation, Aug 24, 2021
Slide 1: ACWA Power – H1 2021 Results Update
ACWA Power – August 2021 H1 2021 Results Update (Update to Business Update of 24 August 2021)
Slide 2: Disclaimer
Disclaimer This document and the information contained therein (the "Information") has been prepared by International Company For Water & Power Projects (the "Company") for background purposes only and does not purport to be full, accurate or complete. No reliance may be placed for any purpose on th
Slide 3: Proven track record of growth with continued momentum from new projects coming online
Proven track record of growth with continued momentum from new projects coming online Operating income before Adjusted profit / (loss) attributable to Parent operating cash flow (SARmm) impairment loss and other expenses equity holders of the parent (SARmm) (2) (SARmm)(1) 2,155 1,949 1,249 1,158 1,2
Slide 4: ACWA Power's profit attributable to equity holders of the parent – building blocks
ACWA Power’s Profit / (Loss) attributable to equity holders of the parent – building blocks H1 2021 H1 H1 (SARmm) 2020 LTM 2020 2021 Near-term future drivers Development and • Driven by (i) already contracted fees from existing projects, (ii) yet-to-be-contracted fees from existing projects, and (ii
Slide 5: Major performance drivers of key financial metrics in H1 2021
Major performance drivers of key financial metrics in H1 2021 Variance (SAR mm) H1 2021 H1 2020 SAR % Major variance drivers • Increase in development and construction management fees mainly on account of financial closes of Sirdarya, Sudair and Redstone. Operating income before 1,074 869 205 +24 •
Slide 6: Adjustments and certain normalisations to ACWA Power's profit attributable to parent
Adjustments and certain normalisations to ACWA Power's Profit / (Loss) attributable to equity holders of the parent H1 2021 SAR(mm) Nature 2020 LTM H1 2020 H1 2021 Profit / (Loss) attributable to equity holders of the parent 883 1,004 326 447 Impairments in relation to subsidiaries and equity accoun
Slide 7: Strong parent recourse credit profile
Strong parent recourse credit profile ACWA Power long-term target parent net leverage profile Commentary (Parent Net Debt / POCF) • The majority of ACWA Power’s consolidated net debt consists of project finance instruments which are non-recourse to ACWA 7.69x Commensurate with: Power at the parent l
Slide 8: Breakdown of Long-term Financing and Funding Facilities
Breakdown of Long-term Financing and Funding Facilities Long–term financing and funding facilities Parent-Level Net Leverage As of 30 June 2021, all values in SAR mm SAR mm 12,225 On balance sheet On balance sheet EBLs and 9,408 non-recourse debt: recourse debt: Equity LCs and (2,817) SAR 18,388 mm
Slide 9: Significant subsequent events (post 1H2021)
Significant subsequent events (post 1H2021) P• Sudair PV IPP in KSA achieved financial close on 29 July 2021. The project is now under- construction P• DEWA V Phase A achieves ICOD (300 MW capacity online out of 900 MW total capacity) as of 24 July 2021 P• Ras Al Khair IWPP privatization process was
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