TAQA H1 2021 Results - Energy Transition and Financial Performance
Transmission & Distribution highlights
Stable EBITDA margins and net income contribution boosted by one-off gains
High network availability and security of supply during the period
98.2% for power and water transmission (98.5% H1 2020)
Higher revenues partially offset by higher operating expenses
.
Increased revenues (+6% H1 y/y) on higher pass-through costs incurred related to bulk
supply tariffs paid by the distribution businesses
Revenues further increased on new revenues associated with battery storage projects
previously carried out by the distribution businesses
. Higher operating expenses (+8% H1 y/y) reflected higher bulk supply tariffs
. Regulated asset base lower (-1% during H1 2021) on UAE deflation during the period
EBITDA of US$ 1.2 billion (+4% H1 y/y)
Net income contribution to the Group of US$ 642 million (+8% H1 y/y) boosted by new
revenues for battery storage projects previously carried out by the distribution companies
Capex higher (+13% H1 y/y) on accelerated spend in comparison to prior-year period which
saw project cancellations and deferrals driven by the COVID-19 pandemic.
AU
T&D highlights (US$ million)
Regulated asset base (RAB)
6m 2021
YE 2020
Revenues
H1 2020PF
H1 2021
EBITDA
H1 2020PF
H1 2021
21,571
21,820
1,131
34% margin
1,171
33%
Net income (consolidated)
H1 2020PF
3,293
3,498
595
H1 2021
642
CAPEX
H1 2020PF
336
H1 2021
379
42
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