Global Leader in Hydro Power and Aluminium
Capital Expenditure
Capital expenditure dynamics¹
(USD mn)
1,015²
181
1,084 2
236
•
834
848
2018
2019
Metals
Power
FY 2019 Capital expenditure structure²
(USD mn)
Power Segment
• Capex increased 30.4 % y-o-y to USD 236 mn reflecting:
.
- Investments to the technical connections to power supply infrastructure and CHPs
efficiency improvement, continuing HPPs' 'New Energy' modernisation program
- Deferral of some capex from 2018 to 2019
Maintenance capex c.58% of total
In 2019 and beginning 2020, the Group participated in the state program for CHP
modernisation providing with a guaranteed return on investment, because of which
the Group will be able to improve reliability and safety of 1,295 MW of its CHP capacity
(29.5% of total CHP capacity) in total. Total expected capex for CHPS of USD 245 mn
(RUB 15.2 bn) 3³.
Metals Segment
•
Capex increased 1.7% y-o-y to USD 848 mn
Ent
GROUP
41.3%
Maintenance
58.7%
Development
• Maintenance capex c.59% of total
•
In 2019, the Company's Metals segment continued its investment in key development
projects as per its strategic priorities of preserving its competitive advantages of
vertical integration into raw materials and product mix enhancements:
- Carbon materials self-sufficiency: Taishet anode plant (1st stage, construction of
anode baking furnace with a capacity of up to 217.5 ktpa of baked anodes) 4
Aluminium capacities expansion: Taishet aluminium smelter (1st stage, 428.5 ktpa)
-
(1) Capital expenditure represents cash flow related to investing activities - acquisition of property, plant and equipment and acquisition of intangible assets
(2) Before intersegmental elimination
(3) Calculated based on USD/RUB exchange rate 61.91 as of 31.12.2019
(4) For baking of SAZ green anodes during modernization of anode baking furnaces
En+ Group overview
Investment highlights
Sustainable business
development
Results snapshot
34
Power segment
Metals segmentView entire presentation