TAQA H1 2021 Results - Energy Transition and Financial Performance
Liquidity and debt profile
Strong liquidity levels and significant debt reduction
Key credit metrics
Robust liquidity position
Total liquidity of US$ 5.1 billion consisting of:
-
-
Cash and cash equivalents of US$ 1.5 billion
Undrawn credit facilities of US$ 3.6 billion
Dec-2020
Jun-2021
Net debt-to-capital ratio¹
49%
47%
EBITDA (LTM) / net finance costs (LTM)²
4.9x
5.4x
Net debt/EBITDA (LTM)
4.2x
3.6x
87%
95%
Debt levels lower on RCF repayments and project finance amortization
Gross debt of US$ 18.9 billion (-9% vs. YE 2020) with RCF repayment
of US$ 1.1 billion during Q2 2021 and ongoing project debt amortization
Corporate debt maturity profile³ (US$ million as at quarter end)
Fixed rate debt (% total)
1,842 1,751
1,469 1,646
873
1,001
21
22 23
24
25
26
26
1,561
1,377
654
583
Drawn RCF
Bonds (corporate)
Project / subsidiary debt
390 389
411
380
326
27
28
29
30
31
32
33
34
35
35
1,211
500
286
120
117
37
38
40
14
“
36
37
38
39
40
41
42
43
49
1. Net capital defined as net debt plus equity (including minorities and accumulated changes in the fair value of derivatives); 2. net finance costs include ARO accretion expenses
750
2051
35
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