ANNUAL RESULTS PRESENTATION 20 March, 2014 Hong Kong
Content Ⅰ Ⅱ Financial Highlights Business Performance Ⅲ Trend and Objectives Ⅳ Outlook and Perspectives
Financial Highlights Total Assets (RMB billion) Increased 1.21%YoY 262.233 Net Assets (RMB billion) Increased 11.26%YoY 62.451 Operating Revenue (RMB billion) Decreased 0.10%YoY 133.833 Net Profit (RMB billion) Increased 89.14%YoY 10.426 Earnings per Share (RMB) Increased 89.74%YoY 0.74 2013 operating results prepared under IFRS
Business Performance Power Generation and Tariff 3500 3000 2500 2000 1500 1000 500 0 1,143 909 559 714 442 2,035 1,846 1,737 1,599 1,505 2,570 3,136 3,175 3,024 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Power generation ('00 million kwh) In 2013, total domestic power generation of the Company was 317.5 billion kwh, increasing by 4.98 % yoy. Average utilization hours of thermal units was 5,089, 77 hours higher than that for national average. Average tariffs settled for 2013 was RMB454.38/MWh, increased 0.04% over the same period last year.
Business Performance (continued) Fuel supply and Costs In 2013, the company totally purchased 134 million tons natural coal. Structure adjustment Price control Quality improving Long term Cooperation with bigger suppliers Increase of imported coal The unit fuel cost of power sold of the year for domestic power plants was RMB218.59/MWh, decreased 12.50% yoy.
Business Performance (continued) Leading Technical & Energy Consumption Indicators Average equivalent availability ratio Average house consumption rate Average coal consumption for generation Average coal consumption for power sold 94.53% 5.28% 291.26g/kWh 308.26g/kWh
Business Performance (continued) Domestic Projects Commissioned Projects Controlling Capacity (MW) Equity Capacity (MW) 2013 Coal fired 3,072 2258 Gas fired 382 195 Wind 48 25 Total 3503 2478
Business Performance (continued) Business in Singapore Operating Revenue (RMB Billion) Decreased 28.23%YoY 14.24 Net Profit (RMB Billion) Decreased 89.16%YoY 0.113 Completion of Tembusu Multi-utility complex phase Ⅰand CCP5 project increased total capacity of 507MW The market share of power generation is 20.6 % in 2013, decreasing 4.6 ppt yoy
Business Performance (continued) Generation Capacity To date,the controlling generation capacity was 66,795 MW, and the equity-based generation capacity was 59,993 MW. 7.68% Generation Structure coal fired gas fired wind 89.75% oil fired hydro The Company has plants in 19 provinces, municipalities and autonomous regions of China, and a wholly-owned power company in Singapore. 39.80% Class of Units 39.70% 16.40% 1000MW 600MW 300MW
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Business Performance (continued) Dividends Payout 80% 70% 60% 50% 40% 30% 20% 10% 0% Pay-out Ratio Notes: Calculated under IFRS (DPS/EPS), the company paid dividends per share of RMB0.10 in spite of the losses in 2008. Our cash dividend payout will not be less than 50% of the distributable profit realized in the then year s consolidated financial statement.
Trend and Objectives Opportunities The Chinese macro-economy to be stable and power demand still to increase Generally ease of coal supply Trend of this year Funds supply is secured on good credit and various financing channels Challenges Uncertainties on policy of tariff, direct power purchase and energy conserving and environmental protection Interest liberalization and tight balance of funds supply to possibly increase difficulties in cash cost and availability
Trend and Objectives (Continued) Domestic generation 325 billion kwh Generation Objectives for 2014 Utilization hours of domestic units 5000 hours Further enhancing economic efficiency through restructuring and management Improving profitability in sustainable way Main Tasks Further fostering sustainability and leading competitive ability
Outlook and Perspectives Targets by 2015 good in management Optimized structure Edge in tech First class listed company with excellence in governance & market value Remarkable in efficiency Advantage in layout Synergism effect Trying to reach the controlling capacity goal of 80GW by 2015
1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 Listed for 20 years 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 Capacity -MW 3,600 3,000 2,400 1,800 1,200 600 0 Generation 00 million KWh Creativity in capital market products Convertible bond Corporate bond Dim-sum bond Capital market honors Best shareholder return Best IR Best information disclosure Best listed company
POWERING TOMORROW