Investor Presentation April 2020
Disclaimer THIS DOCUMENT AND ITS CONTENTS ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. This presentation may contain “forward -looking statements”, which are statements related to the future business and financial performance and future events or developments involving the En+ Group. Such forward-looking statements are based on the current expectations and certain assumptions of the En+ Group’s management, and, therefore, should be evaluated with consideration taken into of risks and uncertainties inherent in the En+ Group’s business. A variety of factors, many of which are beyond the En+ Group’s control, can materially affect the actual results, which may differ from the forward-looking statements. This presentation includes information presented in accordance with IFRS, as well as certain information that is not presented in accordance with the relevant accounting principles and/or that has not been the subject of an audit. En+ Group does not make any assurance, expressed or implied, as to the accuracy or completeness of any information set forth herein. Past results may not be indicative of future performance, and accordingly En+ Group undertakes no guarantees that its future operations will be consistent with the information included in the presentation. En+ Group accepts no liability whatsoever for any expenses or loss connected with the use of the presentation. Please note that due to rounding, the numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. Information contained in the presentation is valid only as at the stated date on the cover page. En+ Group undertakes no obligation to update or revise the information or any forward-looking statements in the presentation to reflect any changes after such date. This presentation is for information purposes only. This presentation does not constitute an offer or sale of securities in any jurisdiction or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities of the En+ Group. If this presentation is provided to you in electronic form, although reasonable care was used to prepare and maintain the electronic version of the presentation, En+ Group accepts no liability for any loss or damage connected to the electronic storage or transfer of information. 2
Presentation Plan 19 29 51 4 9 35 Metals Power En+ Group Investment Sustainable Results segment segment overview highlights snapshot business development • Financial highlights • En+ at a glance • Investment • En+ Group’s ESG • The power market • Global operational fundamentals metrics overview assets footprint • Business model • Operational • Global leader in • Sustainability • Worldwide presence • The Group’s leading • High degree of highlights hydro power and initiatives & ESG with core assets in position vertical integration aluminium assessment • Revenue and EBITDA Siberia • The entire power • Aluminium market breakdown • Vertically integrated • Sustainability • Current situation in sector value chain overview green business model performance the market • Capex and debt • Industry ieading • Focus on sustainable • Siberian power • Production and sales overview • Coronavirus response sector margins development market volumes • Capital allocation • Baikal Lake • Production and sales • EBITDA analysis • Enhanced corporate • Rusal low CO2 volumes governance aluminium position • Capex and debt • EBITDA analysis overview • Capex and debt overview 3
19 29 51 4 9 35 Metals Power En+ Group Investment Sustainable Results segment segment overview highlights snapshot business development 4
En+ at a Glance En+ is a global leader in aluminium production and renewable energy with a well-established presence across five continents and a strong operational hub in Siberia En+ share in the world’s En+ share in the total generation aluminium output, 2019 of Siberia, 2019 6.3 % No 1 5.9% of the world’s aluminium producer 36.4% alumina production excluding China Global Total electricity aluminium generation in production: Siberia: 64.2 1 TWh 19.5 GW 64 mt 208.7 TWh total installed low-carbon hydro 63.6% electricity power generation 94.1% capacity 2 12 aluminium 9 alumina 5 hydro power 1 solar power 16 combined heat and 7 bauxite mines smelters 3 refineries plants power plants plant • Total capacity: • Total capacity: • Total capacity: • Installed power • Installed power • Installed power 3.9 mtpa 10.4 mtpa 4 20.6 mtpa capacity: capacity: capacity: 15.1 GW 2 4.4 GW 5.2 MW • Production level in • Production level in • Production level in 2019: 2019: 2019: • Production level in • Production level in • Production level in 2019 1 : 3.8 mt 7.9 mt 16.0 mt 2019: 2019: 64.2 TWh 13.6 TWh 6.2 mn kWh (1) Excluding Onda HPP with installed power capacity 0.08 GW and production level of 0.4 TWh in 2019 (located in ((3) Excluding Boguchany Aluminium Smelter (BoAZ), a joint 50:50 project of RUSAL and RusHydro. European part of Russia, leased to UC RUSAL). (4) Rusal attributable capacity. (2) Including Onda HPP. 5 Sustainable business Power segment Metals segment En+ Group overview Investment highlights Results snapshot development
Business Model REFINING/ CREATING OUR RESOURCES SALES & PROCESSING/ POWER GENERATION & INPUTS MARKETING GLOBAL VALUE RAW MATERIALS GENERATION Renewable energy Bauxite ASSETS Total sales in 2019 Income and 3.9 mt 1 shareholder value 16.0 mt production 4,176 kt Al capacity in 2019 Alumina Reducing the VAP sales in 2019 19.5 GW carbon footprint of 1,547 kt 7.9 mt production the global Primary Electricity capacity aluminium industry Nepheline 15.1 GW in 2019 aluminium Environmental 4.2 mt production Hydro capacity and value conservation in 2019 added Community products engagement Hydro power RAW MATERIALS 3.8 mt production 1 generation 20.6 mtpa Electricity in 2019 64.2 TWh of electricity Water Bauxite production Trading and production in 2019 capacity Strategic retail 10.4 mtpa investment Thermal power in Nornickel – Capturing additional Alumina Electricity margin generation (27.8%) production Coal transmission – Direct access to capacity 13.6 TWh 27.3 mn and consumers USD 13.6 bn PEOPLE 15.4 mt production 17.8 TWh sales of electricity Gcal of heat distribution c. 90 ths in 2019 production production Investment market value in 2019 employees at 31.12.2019 in 2019 in 2019 (1) Excluding Boguchany Aluminium Smelter (BoAZ), a joint 50:50 project of RUSAL and RusHydro. Capacity and production volumes of the BEMO project (Boguchany Energy and Metals Complex, involving the construction of the Boguchany Hydro Power Plant and BoAZ )are not included to the Company’s consolidated operating data. 6 Sustainable business Power segment Metals segment En+ Group overview Investment highlights Results snapshot development
Worldwide Presence with Core Assets in Siberia Revenue split by region, 2019 1 Russia Sweden Other Ireland CIS 14.2% 36.0% Krasnoyarsk Asia Moscow Boguchany HPP 9.7% Ust-Ilimsk HPP Irkutsk USD America Krasnoyarsk AS Ust-Ilimsk CHP 11,752 mn Boguchany CHP-16 AS BratskHPP 5.5% Novo- Bratsk AS Ukraine Krasnoyarsk HPP Taishet AS Ziminskaya Jamaica CHP-6 CHP-12 Armenia Kazakhstan CHP-11 Italy CHP-10 CHP-9 Khakass utility services IrkutskHPP Sayanogorsk AS Europe Abakan SPP Irkutsk AS Khakas AS 34.6% Novo-Irkutsk CHP Baikalenergo Adj. EBITDA 2 by segment Australia Guinea Guyana 3,287 3 Nigeria 2,127 3 2,163 966 Metals segment Power segment 1,174 1,127 Aluminium Hydropower FY 2018 FY 2019 Alumina Thermal Power Bauxite Solar Power Metals Geographical diversity and high proportion of USD revenue streams (1) From external customers. (2) Adjusted EBITDA means, for any period, the results from operating activities adjusted for amortisation and depreciation, impairment of non-current assets and gain/loss on disposal of property, plant and equipment for the relevant period, in each case attributable to the Group, business segment or any reportable segment, as the case may be. Group figures exclude results from intersegmental operations. (3) After consolidation adjustments. 7 Sustainable business Power segment Metals segment En+ Group overview Investment highlights Results snapshot development
Recommend
More recommend
