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EVN AG Call Transcript 2016

May 25, 2016

742_ip_2016-05-25_8d56ba02-32f9-4427-a06e-3f369cfcdda1.pdf

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EVN Conference CallHY. 1 2015/16 Results

25 May 2016

  • Increase in electricity generation by 14.6%

  • Frequent use of thermal power plants to support network stability
  • Lower renewable generation due to substantially weaker wind and water flows

  • New contract to provide reserve capacity for summer months 2016 and 2017

  • Contract for three turn-key wastewater projects in Macedonia

  • Increase in EBITDA, EBIT and group net result

Key financials HY. 1 2015/16

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#Revenue below previous year

  • Lower revenue from domestic renewable generation and mild winter in Bulgaria
  • Higher revenue from thermal generation and Austrian network business

# Increase in EBITDA, EBIT and group net result

  • Lower electricity purchases and primary energy expenses
  • Reduction of operating expenses

#Decrease in financial result

Dividend from Verbund will only be reported in Q3 2015/16 results

Solid balance sheet structure, reduced net debt

  • Improvement of equity ratio to 41.4% (30 September 2015: 39.8%)

  • Reduction of net debt to EUR 1,148.9m (30 September 2015: EUR 1,230.9m)

  • Gearing decreased to 42.8% (30 September 2015: 47.5%)

EBITDA development by segments

Generation

2
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Increase of electricity production

  • Frequent use of thermal power plants to support network stability
  • Decline in renewable production due to lower wind and water flows

Slight decline in EBITDA

Rise in EBIT

Absence of prior year's impairment effects

Energy Trade and Supply

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# Different development of sales volumes

  • Decline in electricity and natural gas sales volumes
  • Increase in heat sales volumes

# Increase in revenue, EBITDA and EBIT

  • Revenue growth due to marketing of thermal production
  • Lower operating expenses (especially primary energy expenses)
1)
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# Increase in network distribution volumes

  • Positive volume impact on gas distribution from use of EVN's gas-fired power plants

  • Improvement in revenue, EBITDA and EBIT

  • Positive price- and volume-effects
  • Lower operating expenses

2)Including network sales to EVN's power stations

Energy Supply South East Europe

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3.
9

# Decline in electricity production and electricity sales volumes

  • Lower water flows in Macedonia
  • Lower energy demand in Bulgaria due to mild temperatures
  • Lower revenue due to these factors

#EBITDA and EBIT increase

  • Lower energy procurement costs (due to lower sales volumes and further reduction of network losses)
  • Improvements in collection of receivables
  • Cost reductions

Environmental Services

2
0
6
1
5
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1		 /–
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6		 –

#Increase in revenue

  • Higher drinking water sales volumes
  • Higher revenue from international project business

# Decrease in EBITDA and EBIT; increase in financial result

Absence of previous year's one-off effects from sale of sodium hypochlorite plant in Moscow

# Successful market entry for this Segment in Macedonia

Three turn-key wastewater projects

Cash flow

2
0
6
1
5
/
1		 /–
+
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1		 in
%
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3		 –
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3.
6		 –

#Increase of operating cash flow

Strong operating performance

Changes in the cash flow from investing as well as financing activities influenced by last year's sale of sodium hypochlorite plant

  • Group net result for 2015/16 is expected to remain largely stable

  • EVN's strategy remains unchanged

  • Commitment to integrated business model
  • Focus on supply security through ongoing network expansion
  • Further increase of renewable generation capacities in Lower Austria
  • Consolidation of energy business in South East Europe

Additional information

Stefan Szyszkowitz, CFOPhone: +43 2236 200-12132E-mail:[email protected]

Investor Relations:Gerald Reidinger

Phone: +43 2236 200-12698E-mail:[email protected]

Alexander Sipek

Phone: +43 2236 200-12360E-mail:[email protected]

Matthias Neumüller

Phone: +43 2236 200-12128E-mail:[email protected]

Doris Lohwasser

Phone: +43 2236 200-12473E-mail:[email protected]

Investor information on theweb

www.evn.atwww.investor.evn.atwww.responsibility.evn.atE-mail: [email protected]

EVN AG

HeadquartersEVN Platz2344 Maria Enzersdorf

Financial calender

www.investor.evn.at/financial-calenderNext event: Results Q. 3 2015/16, 25 August 2016

Disclaimer

Certain statements made in this presentation may constitute "Forward-Looking Statements" within the meaning of the U.S. federal securities law. Forwardlooking information is subject to various known and unknown risks and uncertainties. These include statements concerning our expectations and other statements that are not historical facts.

The Company believes any such statements are based on reasonable assumptions and reflect the judgement of EVN's management based on factors currently known by it.

No assurance can be given that these forward-looking statements will prove accurate and correct, or that anticipated, projected future results will be achieved.

For additional information regarding risks, investors are referred to EVN's latest Annual report.

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