S.n. Nuclearelectrica S.a. · BVB:SNN
S.n. Nuclearelectrica — H1 2017 Earnings Presentation
18 slides from S.n. Nuclearelectrica's earnings presentation, Aug 11, 2017
Slide 1: SNN Investors Teleconference: Financial results H1 2017
SNN Investors Teleconference Financial results for the period of six months ended 30 June 2017 - H1 2017 - POWERed by people Bucharest: August 11th, 2017
Slide 2: H1 2017 financial result highlights
H1 2017 financial result highlights Budget H1 2017, H1 2016 Q2 2017 Q2 2016 RON '000 H1 2017 Var. (%) Var. (%) adjusted for IFRIC Var. (%) (restated) (restated) (restated) 21 1 2 (1-2)/2 3 4 (3-4)/4 5 (1-5)/5 Quantity of energy sold (MWh) 5.139.142 4.825.706 6,5% 2.349.924 2.014.957 16,6% 5.063.397
Slide 3: H1 2017 Financial position
H1 2017 Financial position RON'000 30.jun.17 31.dec.16 Variation Strong accounts receivables policy in place (restated) Total non-current assets 7,144,962 7,330,813 -2.5% • Decrease of accounts receivables by 8.8% on account of strict contractual provisions as well as continuous change of sales stru
Slide 4: H1 2017 Financial position (cont'd)
H1 2017 Financial position (cont’d) RON'000 30.jun.17 31.dec.16 Variation Provision for employee’s benefits (restated) • The provision for employee’s benefits increased in the period by recording as Total non-current assets 7,144,962 7,330,813 -2.5% at 31 March 2017 a retirement bonus of 9,4 mil RON
Slide 5: Sales of electricity in H1 2017 increased by 20,2% compared to H1 2016
Sales of electricity in H1 2017 increased by 20,2% compared to H1 2016 Electricity sales evolution (RON'000) Positive effect Negative effect 108,547 63,285 1 174,512 2,645 72,209 759 868,276 722,598 Sales of Regulated Regulated Competitive Competitive DAM price DAM Green Sales of electricity in pric
Slide 6: Sales structure analysis H1 2017 vs. H1 2016
Sales structure analysis H1 2017 vs. H1 2016 The main influence over the sales structure comes from the decrease Sales structure H1 2017 vs H1 2016 with 52% of the quantities sold on regulated market and increase of 19% of the quantities sold on competitive market, with an overall Quantities sold (M
Slide 7: OPEX higher by 2% compared to H1 2016
OPEX higher by 2% compared to H1 2016 Operating expenses ('000 RON) • Cost of traded electricity: increase of 15.5 mil RON in H1’17 compared to H1’16, due to: – purchases from DAM of 5.5 mil RON in H1’17 compared to 25k RON 100% in H1’16, to cover contractual obligations during planned outage of 90%
Slide 8: OPEX higher by 2% compared to H1 2016 (cont'd)
OPEX higher by 2% compared to H1 2016 (cont’d) Operating expenses ('000 RON) • Electricity transmission expenses: decreased by 65% due to the decrease in the level of electricity transmission tariff into the grid. (from 4,04 RON/MWH to 1,34 RON/MWh starting with July 1st 2016) 100% 90% 175,436 155,8
Slide 9: Net profit H1 2017 increased compared to H1 2016
Net profit H1 2017 increased compared to H1 2016 Net result evolution (RON'000) Positive effect Negative effect 17,390 24,966 16,880 6,855 15,483 9,440 10,243 7,638 23,886 145,954 133,780 1,736 Net profit 30 Sales of Other income Personnel Cost of traded Repairs and Cost of Other Financial result No
Slide 10: CAPEX
CAPEX Capital expenditure of SNN in H1’17: 48,5 mil RON out of total investment program of 231,6 mil RON, 20,98% completion degree Investments made at Total value of Degree of Ongoing New the tangible assets Equipments investment completion investments investments (upgrades) [thousand lei] program*)
Slide 11: H1 2017 Income statement
H1 2017 Income statement Profit & Loss account 6M ended 3M ended 3M ended Budget H1 6M ended 30.06.2016 Var (%) 30.06.2017 30.06.2016 Var (%) 2017, adjusted Var (%) 30.06.2017 RON'000 (restated) (restated) (restated) for IFRIC 21 Revenues Sales of electricity 869,719 723,764 20.2% 385,809 277,332 39
Slide 12: Radioactive emissions U1+U2 (μSv)
Radioactive emissions U1+U2 (μSv) .700 μSv 0.6000 .600 μSv 0.58000 0.54000 .500 μSv 0.46000 0.44000 0.42000 .400 μSv 0.37000 0.37000 0.33000 0.3000 .300 μSv 0.28000 0.2100 0.2100 0.22000 .200 μSv 0.1600 0.1600 0.1800 0.1500 .100 μSv .00 μSv January February March April May June Emissions U1 Emission
Slide 13: Nuclear fuel burn up factor (MWh/KgU)
Nuclear fuel burn up factor (MWh/KgU) (Cumulated H1 2017: 175,16 / Project estimated: 156,00) 200.0 MWh/KgU 182.80 183.10 182.20 180.20 182.0 182.50 180.0 MWh/KgU 169.50 170.30 168.50 167.60 167.60 165.20 160.0 MWh/KgU 140.0 MWh/KgU 120.0 MWh/KgU 100.0 MWh/KgU 80.0 MWh/KgU 60.0 MWh/KgU 40.0 MWh/KgU
Slide 14: Produced electricity/net U1 + U2 (MWh)
Produced electricity/net U1 + U2 (MWh) (Produced electricity H1 2017: 5.519.639 MWh / Net electricity delivered H1 2017: 5.079.332 MWh) (Cumulated internal technological consumption (H1 2017: 7,97%) 1200000. MWh 1,048,071 1,018,769 1,016,037 1000000. MWh 936,792 966,321 957,516 938,105 936,715 863,0
Slide 15: CANDU Technology Unit performance U1 + U2 (%) Capacity Factor
CANDU Technology Unit performance U1 + U2 (%) Capacity Factor (Cumulated H1 2017: 90.45%) 100.370% 100.360% 97.710% 97.710% 99.350% 98.490% 99.140% 99.440% 100% 94.360% 89.670% 90.450% Outstanding operational results 80% Global Ranking (the latest update by Nuclear Engineering International- 60% 51.
Slide 16: Aspects related to main investments and long term strategic projects
Aspects related to main investments and long term strategic projects Unit 1 Refurbishment program • The updated strategy for Refurbishment program was subject of GMS meeting on 11 July 2017, but no decision was taken at that date since there was a request from Ministry of Energy to provide in depth
Slide 17: SNN Investor Relation
SNN Investor Relation S.N. Nuclearelectrica S.A. (SNN) www.nuclearelectrica.ro Stock: ISIN ROSNNEACNOR8 Tel.: +40 21 203 82 00 E-mail: [email protected] Executive Management 2017 Financial calendar EVENT DATE Daniela Lulache - CEO [email protected] Publication of the
Slide 18: Thank you!
NUCLEARELECTRICA Th a n k you I
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