Romande Energie Holding SA · SIX:REHN
Romande Energie Holding SA — Investor Presentation (April 2021)
32 slides from Romande Energie Holding SA's investor presentation, Apr 22, 2021
Slide 1: Investor meeting, Lausanne, 22 April 2021
Investor meeting, Lausanne, 22 April 2021
Slide 2: Background, Key messages, Looking back, Financial results, CSR, Outlook
April 2021 Background Key messages Looking back Financial results CSR Outlook
Slide 3: 3
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Slide 4: Switzerland's energy transition potential
energy self-sufficiency of 2019 CO2 emissions of fossil fuel consumption captured or stored hydrogen or biofuel trucks, i.e. bulk of current fleet the buildings’ thermal consumption wind turbines deployed or as electric vehicles, i.e. almost many as total Austrian wind of solar roofs or 50% of ¾ of
Slide 5: Energy markets retract then expand sharply
ENERGY MARKETS RETRACT THEN EXPAND SHARPLY September and October 2020 November 2020 to April 2021 • Minor downturn due to second wave of • Brisk upswing across all energy coronavirus pandemic markets • Drag on economic growth but less than • Hopeful mood fuelled by arrival of in the first wave vacci
Slide 6: Energy Strategy 2050 – a challenge for Romande Energie
ENERGY STRATEGY 2050 – A CHALLENGE FOR ROMANDE ENERGIE ➔ … as a corporate player of the energy industry ➔ … as a sustainability-driven, ethical business • 2020-2023 Sustainability Action Plan • Amending of the Rental and Leasing Act • Amending of CO2 Act (in progress) Federal Council • Amending of E
Slide 7: Perseverance pays off
PERSEVERANCE PAYS OFF • Development of NREs* in Switzerland: long-term positioning • Development of NREs* in France: TRUE TO OUR COMMITMENTS a turning point in 2020 • Partnerships: time-honoured • Strong, sustainable financial links contribution • Alpiq/EOS Holding: ‘through thick and thin’ GROUP EM
Slide 8: Looking back
4 KING BACK
Slide 9: 2020 key messages and financial indicators
• Restructuring and reorganisation of ownership structure completed • 2020: solid operating profits and reinstatement of dividend Financial indicators 2020 2019 % variation EBITDA before EI* CHF 262m CHF 110m +CHF 152m Net debt/EBITDA before EI* 1.0 1.9 -0.9 Cash flow from operating activities CHF 1
Slide 10: Significant investments in NREs in Europe
• 2020: doubling of dividend paid to Romande Energie compared to 2019 • Key target: producing clean energy at a competitive cost while ensuring a solid return on investment Significant investments in NREs* in Europe • 449 MW of installed capacity • 2020 EBIT: CHF 29.5m • Planned investments to doubl
Slide 11: 2020: a decisive year
2020: a decisive year • Acquisition of 51% stake in GSC2 Groupement Solaire Cestas 2 • Purchase of the remaining 95% stake in Icaunaise SAS (6 plants) • Co-development partnership with Calycé CALYCE (1 wind farm in operation and 15 wind projects in the pipeline) ICAUNAISE CESTAS technologies assets
Slide 12: 153 production plants in Switzerland
3 new district heating 5 solar power plants with installations microgrid Production: 6.5 GWh Production: 0.6 GWh Creation of the company EcuCAD 9 self-consumption solar Purchase of the Bussigny and power plants Romanel-sur-Lausanne grids Production: 2.8 GWh Production: 87 GWh Lac des Toules floating
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Slide 14: Perseverance pays off: 2020 results
PERSEVERANCE PAYS OFF 2020 RESULTS Revenues increase to CHF 569m ❖ Revenues + 9% Energy Solutions and exceptional items ❖ EBITDA + 14% Resilient operations: EBIT of CHF 77m achieved excluding exceptional items + 2% Property sale in Morges vs. COVID impact ❖ EBIT + 18% Sharp increase in net profit to
Slide 15: Operating performance driven by grid business lines
OPERATING PERFORMANCE DRIVEN BY GRID BUSINESS LINES 2020 In CHF thousands 2020 2019 Variation restated in % ▪ Increase in grid usage fees ▪ Rising contribution from non-regulated business, Net revenues of business units 235 582 224 238 5% especially in Valais Gross profit 184 013 174 506 5% ▪ Integr
Slide 16: Covering the entire kWh value chain
COVERING THE ENTIRE KWH VALUE CHAIN SIGNIFICANT INVESTMENTS IN SWITZERLAND AND FRANCE In CHF thousands 2020 2019 Variation 2020 restated in % ▪ Business growth in France: - revenues +CHF 7m (solar) Net revenues of business units 261 284 228 008 15% - acquisitions +CHF 90m (solar, wind and hydro) Gro
Slide 17: Respectable results in a tough context
RESPECTABLE RESULTS IN A TOUGH CONTEXT STRONGER POSITIONS IN LOCALITIES 2020 In CHF thousands 2020 2019 Variation restated in % ▪ Operating performance sustained despite COVID-19: -CHF 3m at EBIT level Net revenues of business units 94 499 97 177 -3% ▪ Added expertise: Technical Facility Management
Slide 18: Significant gain in net profit
SIGNIFICANT GAIN IN NET PROFIT 2019 restated 2020 569 EBIT Exceptional items CHF m 522 COVID CHF - 3m Property sale CHF + 18m Net profit 323 Boosted by associates 307 ALPIQ CHF + 10m EOSH CHF + 10m 131 149 65 77 87 (18) 23 36 +9% +5% +14% +18% +138% Net revenues Gross profit EBITDA EBIT Share of pro
Slide 19: Substantial increase in growth capex
SUBSTANTIAL INCREASE IN GROWTH CAPEX Maintenance Growth Maintenance 2020 2020 65% 35% Growth 30% 70% CHF 210m CHF 123m 2019 20
Slide 20: Investments financed out of cash assets and repayment of CHF 100m loan
INVESTMENTS FINANCED OUT OF CASH ASSETS AND REPAYMENT OF CHF 100M LOAN CHF m Net cash used in/provided by investing activities Net cash used in financing activities ¹ Cash and cash equivalents 21
Slide 21: Resilience, perseverance and renewable energies
Resilience and return on capital 1 Tight management of operations and strict control of expenditure Dividend unchanged at CHF 36 Perseverance and sustainability of earnings 2 Positive correlation between financial profitability and social responsibility Renewable energies: the Group’s future powerho
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Slide 23: Triple bottom line
Corporate targets balanced evenly across the three CSR pillars, backed up in late 2020 by our process of alignment to the UN 2030 Agenda on Sustainable Development Internal External stakeholders stakeholders Social pillar Net Promoter Score and Safety Economic Environmental pillar pillar EBIT Greenh
Slide 24: Digital & Innovation, solutions for customers
• Digital & Innovation support unit Launched on 1 January 2020 • Innovative and turnkey solutions Home as a Service, Click & Charge • End of the ‘Défi 3V’ project • Partnerships reshuffled REC, RES, Commune Rénove 25
Slide 25: Social pillar: organisation, inclusion and employer ranking
• New organisation for the Energy Solutions BU • Inclusion and diversity • Part-time working • Pandemic • NPS stakeholders • Open innovation • Best employer in Western Switzerland’s energy sector, according to the Handelszeitung ranking 26
Slide 26: Environmental pillar targets
The environmental pillar targets three areas to achieve a big impact Impacts targeted • Fulfil green economy’s potential • Retain loyalty of our stakeholders by staying true to ourselves • Total and genuine commitment of our colleagues • Talents join and stay with RE ENERGY STRONG PERSONAL owing to
Slide 27: Greenhouse gas emissions
Scopes 1 and 2 = 8.5% of total emissions Scope 3 = 91.5% of total emissions • 2020: target of cutting carbon intensity by 5% per CHF of revenue • Decrease in the total GHG emissions of 3,884 tCO2eq compared to 2019 28
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Slide 29: 2020-23 Strategy recast across the three CSR pillars
2020-23 Strategy recast without affecting our balanced approach across the three CSR pillars: - Head of People & Talent appointed - Employer brand strengthened further - Partners’ club with municipalities launched - Stronger supplier relationships Social - Target maintained of cutting carbon pillar
Slide 30: Financial calendar 2021
15 June 2021 29 June 2021 1 July 2021 5 July 2021 9 September 2021 Closure of the share register Annual General Meeting Ex-dividend date Dividend payment First-half results 31
Slide 31: Q&A – Discussion
Q&A —DISCUSSION
Slide 32: Christian Petit, CEO and Nicolas Conne, CFO
Christian Petit Nicolas Conne CEO CFO [email protected] [email protected] +41 21 802 97 00 +41 21 802 96 18