Investor Presentaiton
Renewable energy business performance
9M20 electricity sales increased by 9.4% y-o-y, despite the decrease in generation by 11.9%
1.
2020 quarterly revenue from electricity sales
9M20 revenue - - GEL 34.8m
Renewable energy
2.
9M19 and 9M20 generations and revenues by power plants
9M20 revenue y-o-y increase: 9.4%
15.2
16.5
Revenue (GEL'm) 12.1
GEL millions
16.0
1.7
12.2
7.4
2.3
5.8
8.9
Total revenue
6.4
6.6
3.9
3.3
3.9
0.3
8.5
6.4
6.3
5.9
5.0
5.8
GWh
14.1
132
119
12.5
9M19 generation - 259 GWh
9M20 generation - 228 GWh
7.3
5.5
64
70
63
39
1Q19
1Q20
2Q19
2Q20
3Q19
3Q20
Mestiachala HPPS
PPA revenue
Non-PPA revenue
I Business interruption reimbursement
Qartli WPP
■9M19 generation
Hydrolea HPPS
9M20 generation
Key highlights
Like-for-like y-o-y increase¹ in 9M20 revenue from electricity sales was
9.4%. Without considering 2019 BI reimbursement amount for 20MW
Mestiachala HPP (Aug-Sep), the growth would be 20.6%²
3.
2.
9M20 electricity sales price during non-PPA months amounted to 38.3
USD/MWh, increasing y-o-y by 34.5% on the back of electricity market
deregulation and increasing electricity deficit on the Georgian market
4.
EBITDA in 3Q20 and 9M20 amounted to GEL 13.4m and GEL 27.5m, with
outstanding EBITDA margins of 83.8% and 78.8%, respectively
9M20 electricity sales from Mestiachala HPPS increased by 25.9% y-o-y,
despite the decrease in generation by 9.5%. Revenue from Hydrolea HPPS
was down by 24.0% y-o-y, on the back of planned rehabilitation works
Note (1): Like-for-like y-o-y changes, including revenues generated by Hydrolea HPPs and Qartli wind farm prior to their acquisitions (acquired in 4Q19)
Note (2): Restoration process in on-going For 20MW Mestiachala HPP, as it was flooded and taken offline in late July 2019
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