TAQA Business Overview H1 2023
A leading integrated utility at the heart of UAE's energy ambitions
1
Building a global business upon
2
solid foundations in UAE
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I
Exclusive
Right of
I
I
1st refusal
I
117
Operations spread across three
business lines
3
H1 2023 REVENUE SHARE
mboe/d
production
Transmission for For a minimum of
Abu Dhabi and
I
I
Northern Emirates
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Distribution for
Abu Dhabi
I
I
EWEC generation!
22
Countries
Global footprint
through power
generation and
40% stake in
projects in the
O&G assets.
I
UAE
37.4 GW1
gross power
generation
capacity
I
18%
T&D
24%
■ Generation
O&G
58%
Strong financial performance &
predictable cash flow generation
$
$7.3bn
~110,000 km
water &
5% YoY
electricity
networks
1,060 MIGD
gross water
desalination
capacity
H1 2023 Revenue
I
$2.9bn
7% YoY
H1 2023 EBITDA
41%
Average Adj.
EBITDA margin
2020-2022
€ 61%
FCF-to-EBITDA ratio
H1 2023
Robust borrowing profile with good
liquidity levels
4
Aa3
5
Transparent dividend policy
Defined dividends from
T&D and Generation
(fils/share)
MOODY'S
12%
Liquidity as a % of
2.6x
Net debt / LTM
AA-
Fitch Ratings
2023P 2024F 2025F
3.25
3.50
3.75
EBITDA (Jun 23)
total assets (Jun 23)
Maintaining standalone investment grade rating
Variable
payout over
2023-2025 from
O&G business
Discretionary
percentage of net
income
Fixed dividends to be paid quarterly
Variable dividend at year end
6
ESG embedded in Group strategy
with a path to net-zero by 2050
2022 highlights
8%
YoY reduction in
I
0
16%
YoY reduction in
Scope 1 & 2 GHG ¦ intensity based on ¦
emissions
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revenue
27%
Female board
members
16% women in
management
1. Based on operational and under construction capacities. Includes Masdar generation capacity. Excludes 1GW captive capacity in Oman
5
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