DOCSLIB.ORG

Investor Update Presentation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Investor Update Presentation Investor Update Presentation 6-7th of March 2018 1 Important information and disclaimer This presentation (the “Presentation”) contains financial information (the “Financial Information”), operational, legal and other information concerning Tulip Oil Netherlands Offshore B.V. (the “Company”) and its business. The Presentation has been prepared by or at the direction of the Company. This Presentation is for information purposes only and does not constitute a prospectus or offering memorandum or an offer, solicitation or invitation to underwrite, tender or otherwise acquire or invest in or take any action in respect of any securities. This Presentation is not intended to provide the basis for any credit or any other third party evaluation of the Company, any securities previously issued by it, any securities which may be issued by it or any subsidiaries in the future or any related transactions and should not be considered as a recommendation that any investor should subscribe for or purchase or invest in any such securities. No reliance may be or should be placed by any person for any purposes whatsoever on the information contained in this Presentation or any other material discussed at the Presentation, or on its completeness, accuracy or fairness. By attending a meeting where this Presentation is made, or by receiving this Presentation, you agree to be bound by the terms, conditions and limitations set out herein. Neither the Company nor any of its direct or indirect shareholders nor any such company’s directors, officers, employees, advisors or representatives (collectively the “Representatives”) makes any representation or warranty of any sort as to the accuracy or completeness of the information contained in this Presentation or in any other model or information made available in connection with this Presentation or the reasonableness of the assumptions on which any such information is based. No person shall have any right of action against the Company, its Representatives or any other person in relation to the accuracy or completeness of any such information. The information contained in this Presentation is subject to amendment and/or completion without notice and such amendments may be material. The merits or suitability of investing in the Company or any securities previously issued or issued in the future by the Company or any future subsidiaries for any investor’s particular situation must be independently determined by such investor. Any such determination should involve, inter alia, an assessment of the legal, tax, accounting, regulatory, financial, credit, foreign exchange and other related aspects of the transaction in question. The contents of this Presentation are not to be construed as legal, business, investment or tax advice. Each recipient should consult with its own legal, business, investment and tax adviser as to legal, business, investment and tax advice. This Presentation is strictly confidential and is being submitted to selected recipients only and has not been prepared with a view to public disclosure under applicable securities laws or otherwise. It may not be reproduced (in whole or in part), distributed or transmitted to any other person without the prior written consent of the Company. No person shall be treated as a client of any of the Company’s advisers or be entitled to the protections afforded to such clients, solely by virtue of having received this Presentation. Neither this Presentation, nor any copy of it or the information or materials contained herein, are intended for distribution to, or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation or which would require any registration or licensing within such jurisdiction. Any person coming into possession of this Presentation should inform themselves about and observe any such restrictions. Neither this Presentation nor any part thereof is intended for general publication, release or distribution in the United States. Any failure to comply with these restrictions may constitute a violation of the laws of any such jurisdiction. Neither the Company nor its Representatives shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this Presentation or its contents or otherwise arising in connection with the Presentation. The information contained in this Presentation may include results of analyses from a quantitative model that may represent potential future events that may or may not be realized, and is not a complete analysis of every material fact relating to the Company or its business. This Presentation contains projections and forward looking statements. The words “believe”, “expect”, “could”, “may”, “anticipate”, “intend” and “plan” and similar expressions identify forward-looking statements. All statements other than statements of historical facts included in the Presentation, including, without limitation, those regarding the Financial Information, the Company’s financial position, potential business strategy, potential plans and potential objectives, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance, achievements and value to be materially different from any future results, performance, achievements or values expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. No warranty or representation is given by the Company or any of its Representatives as to the reasonableness of these assumptions. Further, certain forward-looking statements are based upon assumptions of future events that may not prove to be accurate. The forward-looking statements in the Financial Information speak only as at the date of the Financial Information and the Company assumes no obligation to update or provide any additional information in relation to such forward-looking statements. Nothing in this Presentation is, or should be construed as, a profit forecast. By attending or receiving this Presentation, you acknowledge that you will be solely responsible for forming your own view of the potential future performance of the Company. Any investment in the Company involves inherent risks and is suitable only for investors who understand the risks associated with this type of investment and who can afford a loss of all or part of the investment. Investors should carefully review the risk factors set out in the following slides before making any investment decision. There may have been changes in matters which affect the Company subsequent to the date of this Presentation. Unless otherwise stated, the information contained in this Presentation is provided as at the date of this Presentation and is subject to change without notice. None of the Company or any of its advisers undertakes any obligation to update the information provided in the Financial information or any other information in the Presentation, to provide the recipient with any additional information, or to correct any inaccuracies that may become apparent in any information provided. This Presentation is governed by Norwegian law. Any dispute arising in respect of this Presentation is subject to the exclusive jurisdiction of Norway with Oslo city court as exclusive venue. 2 Summary of risk factors An investment in the Company, or in any present or future securities issued by the Company, involves a high degree of financial risk and is suitable only for investors who understand the risks associated with this type of investment and who can afford a loss of all or part of an investment. The risk factors below are a non-exhaustive summary of the risk factors included in this Presentation, and no investor should make any investment decision without having reviewed and understood the risk factors associated with investing in the Company. The order of appearance is not intended to indicate importance or likelihood of occurrence. RISKS RELATED TO THE ISSUER'S BUSINESS • The Issuer's production and revenues is expected to come from one field • Development projects are associated with risks relating to delays and costs. • Marketing and sale of hydrocarbons • The oil and gas industry is subject to commodity price fluctuations, which may adversely impact the Issuer's results of operations, financial condition and prospects • Recovery, reserve and resource estimates may prove inaccurate and reporting standards may differ from the standards of other jurisdictions • The Issuer's financial performance depends on its ability to locate and develop oil and gas reserves, to produce these reserves commercially and get paid for them • Competition • Alternatives to and changing demand for petroleum products • Cost of new technologies • The Issuer may be unable to obtain or renew required concessions, licence, permits and other authorisations (together, "Licences") or such Licences may be suspended, terminated or revoked prior to their expiry • A significant change in Dutch laws and regulations for the petroleum industry, particularly any unfavorable amendments to applicable tax laws, may have an adverse effect on the Issuer's business and financial condition • Activities in the oil and gas sectors can be dangerous and may be subject to interruption • The Issuer's
Load more

Recommended publications
  • Company Announcement DONG Energy A/S Kraftværksvej 53 DONG Energy Appoints New CEO for E&P Skærbæk 7000 Fredericia
    Company announcement DONG Energy A/S Kraftværksvej 53 DONG Energy appoints new CEO for E&P Skærbæk 7000 Fredericia Søren Gath Hansen will step down as Group Executive Vice President and www.dongenergy.com CEO for E&P. His successor is David B. Cook who comes from a position as CVR-nr. 36 21 37 28 Executive Officer and Head of Oil & Gas at the Abu Dhabi National Energy Company, TAQA. Søren Gath Hansen will continue in DONG Energy as head of the group's Quality, Health, Safety and Environment activities (QHSE). Søren Gath Hansen said: 15 December, 2014 "I have worked for DONG Energy for more than 30 years and throughout the past 12 years I have had the privilege to head the build-up of the oil and gas business which has become a strong player in the North Sea with a daily production of more than 100,000 barrels of oil equivalent. I have recently turned 60 and I have now reached a point in my life where I feel it is the right time to hand over the challenging job as CEO of the E&P business to my successor. I have a great passion for safety and environment and I am looking forward to spending all my energy in supporting DONG Energy's positive progress in this area." DONG Energy's CEO Henrik Poulsen said: "I would like to thank Søren for the contribution he has made to DONG Energy as CEO for E&P. Søren has built DONG Energy's oil and gas business into a strong regional player which over the last 6 years has doubled its production.
    [Show full text]
  • Abu Dhabi National Energy Company PJSC
    Abu Dhabi National Energy Company PJSC September 23, 2009 Fair Value Estimate: AED 2.56 RESULT UPDATE Recommendation:: Buy Share Data Market C ap A E D 10.0 bn Executive Summary P rice A E D 1.60 A bu Dhabi G eneral Index 3,100.05 The recent recovery in crude oil prices together with cost cutting Reuters TAQA.AD Bloomberg TAQA UH measures taken by Abu Dhabi National Energy Company (TAQA) Avg. Volume (52 W eek) 5.2 mn should benefit operating performance. 52-W eek High/Low A E D 2.42 / 0.87 S hares O utstanding 6,225 mn The acquisition of a 90% stake in Fujairah Water and Electricity Fair Value Estimate AED 2.56 Company (FWEC) and capacity expansion plans in Morocco, will Rating BUY expand TAQA’s downstream asset portfolio, increasing its investments in stable revenue generating businesses. Key Figures Y ear to 31 Dec 2008A 2009E R ev enue (mn) 16,805.5 18,321.3 TAQA has signed an agreement to acquire DSM Energy, which E BIT DA (mn) 9,822.8 8,524.9 should increase its production by ~5,000boe/d. It has also Net P rofit (mn) 1,825.2 547.5 acquired two large land blocks covering 1,300sq km in the EPS (AED) 0.35 0.09 Horn River Basin of NE British Columbia in Canada, and four +/- (% ) 41.4% (75.0)% RoA (%) 2.4% 0.5% exploration blocks in the Northern North Sea from Royal Dutch R oE (% ) 28.8% 7.0% Shell and Exxon Mobil.
    [Show full text]
  • FOR IMMEDIATE RELEASE UAE Home to the Middle East's Most
    PRESS RELEASE – FOR IMMEDIATE RELEASE UAE Home to the Middle East’s Most Valuable Brands Total value of UAE brands exceeds that of all countries, including KSA Only one of 16 UAE brands decreased in value this year Emirates remains the Middle East’s most valuable brand, growing 17% Every year, leading brand valuation and strategy consultancy Brand Finance puts thousands of the world’s top brands to the test to determine which are the most powerful and most valuable. The top 50 brands from the Middle East are featured in the Brand Finance Middle East 50. The UAE continues to perform exceptionally well, both against other countries from the region but also the world at large. The total value of the 16 UAE brands in the list is US$27.9 bn, more than that of any other country. Despite having the most brands (21) Saudi Arabia’s total is lower, at US$26 billion. Emirates has consistently dominated the Brand Finance Middle East 50, with a brand value far in excess of both direct competitors and brands from other sectors. It continues to soar. Brand value growth of 17% takes its total to over US$7.7 billion and sees it pull further ahead of the field. The airline continues to invest in ventures that enhance its brand’s reputation. In mid-2015, Emirates spent US$20m to secure ‘Friends’ star Jennifer Aniston in an advertising campaign, which appears to have translated into improving brand strength. The scores for metrics such as preference, satisfaction and recommendation have all improved this year but those most closely tied to advertising, familiarity and consideration, have improved the most.
    [Show full text]
  • Oil Country Tubular Goods from Saudi Arabia
    UNITED STATES DEPARTMENT OF COMMERCE International Trade Administration Washington. D.C. 20230 A-517-804 Investigation Public Document E&C/Office VII: JPR DATE: July 10, 2014 MEMORANDUM TO: Ronald K. Lorentzen Acting Assistant Secretary for Enforcement and Compliance FROM: Christian Marsh ~ Deputy Assistant Secretary for Antidumping and Countervailing Duty Operations SUBJECT: Issues and Decision Memorandum for the Final Affirmative Determination in the Less than Fair Value Investigation of Certain Oil Country Tubular Goods from Saudi Arabia I. SUMMARY In this final determination, the Department of Commerce (Department) finds that certain oil country tubular goods (OCTG) from Saudi Arabia are being, or are likely to be, sold in the United States at less than fair value (L TFV), as provided in section 733 of the Tariff Act of 1930, as amended (the Act). The period of investigation (POI) is July 1, 2012, through June 30, 2013. We analyzed the comments of the interested parties in this investigation. As a result of this analysis, and based on our findings at verification, we made changes to the margin calculations for the respondent in this case, Jubail Energy Services Company (JESCO). We recoll1ffiend that you approve the positions we developed in the "Discussion of the Issues" section of this memorandum. Below is the complete list of the issues in this investigation on which we received comments from parties. 1. JESCO' s Affiliations in Saudi Arabia 2. The Department's use of Third Country Sales Data for Calculation ofNormal Value 3. The Department's use of Differential Pricing (DP) in this Investigation 4. The Department's Calculation of Constructed Value (CV) Profit 5.
    [Show full text]
  • MENA Daily Fixed Income Report – 2 July 2020 Kuwait Financial Centre “Markaz”
    MENA Daily Fixed Income Report – 2 July 2020 Kuwait Financial Centre “Markaz” News Updates GCC Sovereign Yields Sovereign Ratings Moody's affirms Boubyan Bank's credit ratings; outlook stable – Price ∆ Price ∆ Sovereigns Maturity Yield % Sovereigns Maturity Yield % Moody’s S&P Fitch Moody's Investors Service has maintained all the credit ratings of Boubyan (YTD %) (YTD %) Bank, with a 'Stable' outlook, according to the bank's disclosure to Boursa Abu Dhabi 2027 1.58 4.96 KSA 2025 1.45 3.19 Kuwait Aa2 AA- AA Kuwait on Wednesday. The credit rating agency has affirmed the bank's Abu Dhabi 2047 2.87 5.54 KSA 2029 2.17 4.31 KSA A1 A-u A long-term deposit rating at 'A3', short-term deposit rating at 'P-2', and Bahrain 2024 4.08 -3.28 KSA 2049 3.55 4.90 UAE Aa2 NR NR baseline credit assessment at 'ba1'. The Kuwaiti bank's 'ba1' rating reflects Abu Bahrain 2029 5.31 -6.12 Oman 2025 5.11 -4.99 Aa2 AA AA the fast-growing domestic services provided to individuals and companies, Dhabi Bahrain 2047 6.53 -8.53 Oman 2029 6.90 -10.61 supporting the bank's stable funding as well as solid profitability and Qatar Aa3 AA- AA- Dubai 2023 1.63 1.27 Oman 2048 7.84 -13.38 capital. It is noteworthy to mention that in 2019, the bank's net profits Bahrain B2u B+ BB- increased by 12% year-on-year (YoY) to KWD 62.65 million, when Dubai 2029 3.04 -0.29 Qatar 2024 1.16 2.86 Oman Ba3 BB- BB compared to KWD 56.11 million in 2018.
    [Show full text]
  • Achilles FPAL Buyer Members
    Achilles FPAL Buyer Members Achilles FPAL is made up of registered suppliers and buyer members. Currently we have over 3,200 suppliers and 95 buying organisations. An alphabetical list of suppliers is only available to those suppliers / buyers who are already part of the community. Below is a list of the buying organisations who currently have access to Achilles FPAL: Operators & Refiners - 53 Alpha Petroleum Resources Limited EOG Resources United Kingdom Ltd Premier Oil Apache North Sea Limited E.ON E&P UK Limited PSE Kinsale Energy Limited BG Group Plc ESSAR OIL (UK) Ltd Repsol Nuevas Energías UK BP Exploration Operating Company Ltd Fairfield Energy Ltd RWE Dea Uk Holdings Limited Cairn Energy Plc GDF Germany Sasol Upstream Oil & Gas Centrica Energy Exploration & Production GDF Suez E&P Nederland B.V Shell U.K Ltd Centrica Energy Upstream B.V. GDF Suez UK Statoil (U.K) Ltd Chevron North Sea Limited Glencore Suncor Energy U.K Ltd CNR International (UK) Ltd Iona Energy Company (UK) Ltd Tailsman Sinopeo Energy UK Ltd JX Nippon Exploration & Production (U.K.) ConocoPhillips (U.K.) Ltd Taqa Bratani Limited Limited Dana Petroleum (NL) Maersk Oil North Sea Taqa Energy B.V. Dana Petroleum (UK) Marathon Oil Total E & P Nederland B.V. DEO Petroleum (Parkmead Group) MOL Energy UK ltd Total E & P UK Ltd Dong Energy Oil & Gas A/S Nederlandse Aardolie Maatschappij B.V. Tullow Oil (UK) Endeavour Energy UK Ltd Nexen Petroleum U.K. Ltd Vermillion Oil & Gas Netherlands B.V. ENI Liverpool Bay Operating Company Ltd OMV (U.K.) Ltd Wintershall Noordzee B.V.
    [Show full text]
  • Prospects for Coal and Clean Coal Technologies in Turkey
    Prospects for coal and clean coal technologies in Turkey Author: Dr Stephen Mills IEACCC Ref: CCC/239 ISBN: 978–92–9029–560–0 Copyright: © IEA Clean Coal Centre Published Date: July 2014 IEA Clean Coal Centre Park House 14 Northfields London SW18 1DD United Kingdom Telephone: +44(0)20 8877 6280 www.iea-coal.org IEA Clean Coal Centre – Prospects for coal and clean coal technologies in Turkey 2 Preface This report has been produced by IEA Clean Coal Centre and is based on a survey and analysis of published literature, and on information gathered in discussions with interested organisations and individuals. Their assistance is gratefully acknowledged. It should be understood that the views expressed in this report are our own, and are not necessarily shared by those who supplied the information, nor by our member countries. IEA Clean Coal Centre is an organisation set up under the auspices of the International Energy Agency (IEA) which was itself founded in 1974 by member countries of the Organisation for Economic Co-operation and Development (OECD). The purpose of the IEA is to explore means by which countries interested in minimising their dependence on imported oil can co-operate. In the field of Research, Development and Demonstration over fifty individual projects have been established in partnership between member countries of the IEA. IEA Clean Coal Centre began in 1975 and has contracting parties and sponsors from: Australia, Austria, Canada, China, the European Commission, Germany, India, Italy, Japan, New Zealand, Russia, South Africa, Thailand, the UK and the USA. The Service provides information and assessments on all aspects of coal from supply and transport, through markets and end-use technologies, to environmental issues and waste utilisation.
    [Show full text]
  • 2008 Annual Report and Form 20-F for the Year Ended December 31, 2008 Contact Information
    ROYAL DUTCH SHELL PLC ANNUAL REPORT AND FORM 20-F FOR THE YEAR ENDED DECEMBER 31, 2008 DELIVERY & GROWTH REPORT ANNUAL REPORT AND FORM 20-F FOR THE YEAR ENDED DECEMBER 31, 2008 OUR BUSINESS With around 102,000 employees in more than 100 countries and DOWNSTREAM territories, Shell helps to meet the world’s growing demand for Our Oil Sands business, the Athabasca Oil Sands Project, extracts energy in economically, environmentally and socially bitumen – an especially thick, heavy oil – from oil sands in responsible ways. Alberta, western Canada, and converts it to synthetic crude oils that can be turned into a range of products. UPSTREAM Our Exploration & Production business searches for and recovers Our Oil Products business makes, moves and sells a range of oil and natural gas around the world. Many of these activities petroleum-based products around the world for domestic, are carried out as joint venture partnerships, often with national industrial and transport use. Its Future Fuels and CO2 business oil companies. unit develops biofuels and hydrogen and markets the synthetic fuel and products made from the GTL process. It also leads Our Gas & Power business liquefies natural gas and transports company-wide activities in CO2 management. With around it to customers across the world. Its gas to liquids (GTL) process 45,000 service stations, ours is the world’s largest single-branded turns natural gas into cleaner-burning synthetic fuel and other fuel retail network. products. It develops wind power to generate electricity and is involved in solar power technology. It also licenses our coal Our Chemicals business produces petrochemicals for industrial gasification technology, enabling coal to be used as a chemical customers.
    [Show full text]
  • Uk Environmental Statement 2019
    UK ENVIRONMENTAL STATEMENT 2019 TAQA UK ENVIRONMENTAL STATEMENT 2019 1 Contents 05 Introduction At TAQA, we are committed to the highest standards 06 Health, Safety, Security & Environment Policy 09 North Sea Operations of health, safety, security, environmental and quality 19 TAQA Commitment to Operational Excellence (HSSEQ) performance. We work to respect the natural 21 Environmental Management System and ISO 14001 25 Environmental Performance environment and to achieve our goals of ensuring that 35 Onshore Initiatives no harm comes to people; to providing a safe, secure 37 Decommissioning workplace; and carrying-out our activities with minimal 38 Environmental Objectives 39 Glossary impact on the environment. Our commitment to safe and incident-free operations goes hand-in-hand with improved operational reliability, lower costs and higher productivity. FOR FURTHER INFORMATION, PLEASE CONTACT: Fiona Welsh Safety and Environmental Manager, TAQA Tel: +44 (0) 1224 275275 Email: [email protected] Talis Sondors Environmental Advisor, TAQA Tel: +44 (0) 1224 286217 Email: [email protected] 2 TAQA UK ENVIRONMENTAL STATEMENT 2019 TAQA UK ENVIRONMENTAL STATEMENT 2019 3 Introduction Welcome to TAQA’s 2019 Environmental Statement I am pleased to present the 2019 Environmental Statement for TAQA’s UK business. At TAQA, we are committed to the highest standards of health, safety, security, environmental and quality (HSSEQ) performance. In 2019 we continued to prioritise safe and reliable operations across our portfolio, while executing a significant capital investment and decommissioning programme. In addition, we had firm focus on our ESG (environmental, social and governance) agenda, which captures the principles and practices that position TAQA Europe as a responsible business.
    [Show full text]
  • TAQA Announces New CEO of Abu Dhabi Transmission and Despatch Company
    FOR IMMEDIATE RELEASE: TAQA Announces New CEO of Abu Dhabi Transmission and Despatch Company Dr. Afif Saif Al Yafei appointed as Chief Executive Officer of TRANSCO Abu Dhabi, UAE – August 9, 2020: Abu Dhabi National Energy Company (TAQA) announced, today, the appointment of Dr. Afif Saif Al Yafei as Chief Executive Officer (CEO) at its subsidiary, Abu Dhabi Transmission and Despatch Company (TRANSCO). In his new role, effective today, Dr. Al Yafei will reinforce TRANSCO’s vital role in the transformation of Abu Dhabi’s power and water sector. Jasim Husain Thabet, Group CEO & MD at TAQA, said: “We are pleased to welcome Dr. Afif on board as CEO of TRANSCO. With a strong track record of achievements in the energy industry, substantial technical expertise and solid leadership experience, Dr. Afif will further strengthen TRANSCO’s role in guaranteeing the security and stability of the sector to ensure it remains a reliable, efficient, sustainable and value-generating system that is fit for the future.” Commenting on his appointment, Dr. Al Yafei said: “I am excited to be taking on the leadership role at TRANSCO. I look forward to supporting the sector’s ongoing transformational efforts, and in achieving the company’s vision and commitment to sustainability and operational excellence.” Dr. Afif joins TRANSCO from National Central Cooling Company PJSC (Tabreed), where he served in various roles, including Executive Vice President of Asset Management, Senior Vice President of Regional Businesses and Vice President of Operations. Prior to Tabreed, Afif spent more than a decade in the oil and gas industry, where he served in several leadership positions at ADNOC Group.
    [Show full text]
  • "The Netherlands in Focus Panel Discussion": Gas Or Windmills: the Silence of a Lion?
    SPE ATCE Amsterdam: SPE NL Chapter special event, Wednesday afternoon, 29 th of October 2014 "The Netherlands in focus Panel discussion": Gas or Windmills: the silence of a lion? Description: An interactive panel discussion with North Sea experts and decision makers to highlight the current challenges for the North Sea, and specifically for the Netherlands related to a mature basin producing largely gas, in an environment that has challenges with public image and support, an aging infrastructure and needs to change approach to take into account future costs of abandonment and results of O&G developments. Gary Hays will moderate the session while the audience will also participate by voting on probing questions. Panelist, and moderator biographies: Moderator: Gary Hays Gary was born in London, England but has lived for much of his life in The Netherlands. He has a technical background having a BSc in Chemistry and a PhD in Physics. Gary worked for Royal Dutch Shell for many years, starting in technology managing different research & development groups. His international HR roles at Shell include Global HR Manager in Shell Chemicals for 6 years and Graduate Recruitment Manager throughout Europe. His business/line roles include: Technology Manager and General Director of three Shell Technology Centres simultaneously: Amsterdam, Louvain-la-Neuve Belgium and Singapore. In his last role at Shell as VP Strategy & VP HR for the Shell shared service network. Since leaving Shell Gary and worked as European HR Director for Fonterra, New Zealand’s biggest company before living in Moscow for two years, working for one of Russia’s largest oil & gas companies TNK-BP, as Deputy VP HR & OD.
    [Show full text]
  • Communiqué Financier TAQA Morocco T3 2020 VE Web.Pdf
    TAQA MOROCCO RESULTS AS OF SEPTEMBER 30th, 2020 ROBUST OPERATING PERFORMANCE • Increased consolidated availability rate of Units 1 to 6 rising to 97%, compared to 95.3% as of September 30th, 2019, • Energy payments trend in line with coal price decreasing in the international market, • Additional right of use payment of MAD 1.5 billion related to Units 1 to 4 PPA extension to 2044, financed through long term debt of 15 years, • Bond issuance by a private placement for an amount of MAD 2.700.000.000 subscribed by qualified investors. CONSOLIDATED ACCOUNTS In MAD million September 30th, 2020 September 30th, 2019 Variance Variance in % Turnover 6,019 6,910 (891) (13%) EBITDA 2,390 2,637 (247) (9%) Operating Profit 1,816 1,921 (105) (5%) Financial Result (434) (401) (33) (8%) Net Profit (*) 894 1,026 (131) (13%) Including Net Income Group Share 709 789 (80) (10%) Including Minority Interest 185 237 (51) (22%) As of September 30th, 2020, operating performance improved as follows: AVAILABILITY RATE th 2+% • An availability rate of Units 1 to 4 increasing to 96.9% compared to 96% as of September 30 , 2019 explained by higher operating performance and the execution of Unit 4 scheduled inspection of 10 days as part of the maintenance plan. 97.0% 95.3% • An availability rate of Units 5&6 rising to 97% compared to 94.1% as of September 30th, 2019, thanks to improved operational efficiency and due to the execution of Units 5 & 6 scheduled outages in 2019, in accordance with the maintenance plan.
    [Show full text]