Abengoa Sa · OTC:AGOAF
Abengoa Sa — Q1 2019 Earnings Presentation
23 slides from Abengoa Sa's earnings presentation, May 14, 2019
Slide 1: 2019 Q1 Results Presentation
2019 Q1 Results Presentation May 14, 2019
Slide 2: Forward Looking Statements
Forward Looking Statements ▪ This presentation contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) and information relating to Abengoa that are based on the beliefs of its management as well as assumptions made and information current
Slide 3: Agenda
Agenda 1 2019 Q1 Highlights 2 Financial Review 3 Conclusion 3
Slide 4: 2019 Q1 Highlights
‘| | 2019 Q1 Highlights ABENGOA
Slide 5: Highlights of the period
Abengoa continues to improve profitability, increase bookings and Highlights of the period completes financial restructuring Business ▪ Continued improvements of Health and Safety indicators with a Lost Time Injury Rate (LTIR) of 3.1 (3.2 in December 2018) ▪ EBITDA of €46 million in the first quarte
Slide 6: Health & Safety
Commitment to 1,152 and 1,389 days without fatal accidents among Abengoa personnel and Health & Safety its subcontractors’ personnel, respectively Working towards the goal of zero accidents Lost Time Injury Rate – Q1 2019 ABENGOA Contractors 3.1 1,152 934 1,389 Below comparable industry benchmarks M
Slide 7: Financial Review
? | Financial Review ABENGOA
Slide 8: Key Consolidated Figures
Key Consolidated Figures Continued improvement of operating profitability. (€ million) ▪ Revenues of €330 million, a 10% increase due to the Change start of operations in A3T Q1 2019 Q1 2018 Mar’ 18 ▪ EBITDA of €46 million, also due to start of operations in Revenues 330 300 10% A3T, continued reduc
Slide 9: Revenues by Segment and Geography
Revenues increased 10% in comparison to first three months of Revenues 2018 Revenue by Segment Revenue by Geography 1% South America 5% Middle East 21% 6% 8% 30% Magreb E&C Spain 9% Mexico & Cent. America Concessions USA & Canada 11% 79% 16% Others 14% Subsaharian Africa Asa Pacific Main projects in
Slide 10: EBITDA Bridge
Continued improvements in profitability, mainly due to reductions in overhead. Variations EBITDA Bridge in EBITDA by segments mainly affected by A3T project finalizing construction and beginning operations in December 2018 as well as increase in profitability in concessional assets. Figures in € mil
Slide 11: Overhead Costs
Reductions in Continued reductions in overhead costs, with long-term target of 3% of Overhead Costs sales Overhead Costs (€m) 19 19 Main Drivers 18 ▪ Lighter structure: accommodating 18 (16%) organizational structure to the actual level 17 of activity 19 ▪ Increased operational efficiencies 17 16 ▪
Slide 12: Financial Debt Structure
Financial debt to be reduced in Q2 with the closing of financial Financial Debt Structure restructuring and amortization of New Money 1 completed in April Financial Debt as of March 31, 2019 (€ million) ▪ Abengoa’s liabilities include €929 million of financial debt corresponding to companies classif
Slide 13: Summary Cash Flow
Positive Operating CF and cash used to pay capex and debt Summary Cash Flow repayment Sources & Uses as of March 31, 2019 (€ million) Total Sources: €45m Total Uses: €(45)m 110 90 Operating CF: €33m 70 12 (17) 50 7 (17) 30 43 (28) 10 -10 Profit after WC Net financial Cash Capex & Other Financing non
Slide 14: E&C Bookings
Abengoa has been awarded in the first three months of 2019 new projects E&C Bookings for a total value of €394 million, including world’s largest reverse osmosis desalination plant Main projects awarded in Q1 2019 Construction of the world’s largest reverse osmosis desalination Taweelah U.A.E. plant
Slide 15: E&C Commercial Opportunities
E&C Commercial Abengoa will leverage on its pipeline to continue building up its Opportunities project backlog Pipeline by Region Pipeline by Project Type 4% South America 5% Middle East 8% 5% Rest of Europe (excl. Spain) 5% 30% E&C US and Canada ▪ Abengoa currently has a pipeline of 6% Asia Pacific
Slide 16: Update on Asset Disposal Plan
Update on Asset Significant progress on asset disposals & the completion of A3T Disposal Plan Bioenergy USA 1G & 2G bioethanol √ Bioenergy Europe 1G bioethanol √ A3T Project AB San Roque Biodiesel √ Brazil T&D 3,532 Km in operation sold to TPG √ ▪ Construction of asset completed. Began Norte III 924
Slide 17: Conclusion
3 Conclusion ABENGOA
Slide 18: Conclusion
Abengoa continues to improve profitability, reductions in general Conclusion expenses and completion of financial restructuring Business recovery Recovery of business activity, with approximately €394 million of new projects awarded in first three months including the world’s largest reverse osmosis
Slide 19: Appendix
> Appendix 19
Slide 20: Financial Debt: Maturity Profile
Financial Debt: Financial debt with improved maturity profile Maturity Profile Figures in € million Q1 2019 Maturity Corporate Financial Debt* New Money 1 384 2021(1) New Money 2 277 2021(2) Old Money 2,742 2022 / 2023(2) Loan - Centro Tecnológico Palmas Altas 77 Short-term. Secured debt under negot
Slide 21: Results by Segment
Results by Segment Revenues EBITDA (Figures in € million) Q1 2019 Q1 2018 ∆% Q1 2019 Q1 2018 ∆% Engineering and Construction 262 255 3% 11 15 (27)% Concession-type Infrastructure 68 45 51% 35 28 25% Total 330 300 10% 46 43 7% 21
Slide 22: Consolidated Cash Flow
Consolidated Cash Flow Figures in €million Q1 2019 Q1 2018 Profit/loss for the period from continuing operations (140) 20 Non-monetary adjustments & others 183 3 Profit for the period adjusted by non monetary adjustments 43 23 Operating Variations in working capital 7 (1) Activities Net interests &
Slide 23: Thank you
2019 Q1 Results Presentation May 14, 2019 Thank you