The document discusses AES Corporation's business operations and future plans. It states that AES aims to deliver 8-10% average annual growth in earnings and parent free cash flow through 2020. It also aims to achieve investment grade credit metrics in 2019 and reduce its carbon intensity by 25% from 2016-2020 and 50% by 2030. AES expects to achieve $500 million in cost savings by 2020 and is adding 4.4 GW of new capacity through projects under construction by 2020 to transform and simplify its portfolio.
05 08-18 first quarter 2018 financial review final-am plan bAES_BigSky
The document provides an overview of AES Corporation's financial results for the first quarter of 2018. Key points include:
- Adjusted EPS of $0.28, reaffirming full-year outlook through 2020.
- Completed restructuring of the Alto Maipo hydroelectric project in Chile to significantly reduce risks.
- Implemented a new $100 million annual cost reduction program.
- Closed sales of thermal generation assets to further transform the portfolio.
- Advanced several profitable renewable growth projects under construction.
The document discusses AES Corporation's presentation at the JP Morgan Energy Conference. It contains forward-looking statements regarding AES's business operations, earnings growth, and financial and operating performance through 2020. It notes AES's portfolio transformation to longer-term contracted generation and regulated utilities, ongoing efficiency initiatives, and profitable growth through investments in renewables, LNG, and new technologies. AES expects 8-10% average annual growth in adjusted EPS and parent free cash flow through 2020.
The document discusses AES Corporation's business operations and contains forward-looking statements. It notes that certain statements constitute forward-looking statements and are based on reasonable assumptions, but actual results could differ materially from projections. It also includes reconciliations of non-GAAP financial measures. AES operates power plants globally with over 33,000 MW in operation and is improving its risk profile by reducing debt, extending contract durations, decreasing carbon intensity, implementing cost savings, and growing renewables profitably.
02 27-18 fourth quarter & fy 2017 financial review finalAES_BigSky
The AES Corporation reported its fourth quarter and full year 2017 financial results. Key highlights include:
- Adjusted EPS of $1.08 for the full year, toward the upper end of guidance.
- Expect to achieve $500 million in annual cost savings by 2020, increasing the target by $100 million.
- Leveraging platforms by adding over 8 GW of new capacity under construction or in advanced development by 2020.
- Reshaping the portfolio through acquiring over 2 GW of renewable projects in 2017 and announcing the exit of 4.3 GW of coal generation.
- On track to reduce carbon intensity by 25% from 2016 to 2020 and 50% from 2016 to 2030.
The AES Corporation reported its fourth quarter and full year 2017 financial results. Key highlights included:
- Adjusted EPS of $1.08 for the full year, toward the upper end of guidance.
- Plans to realize $100 million in additional annual cost savings through reorganization.
- Expects to leverage platforms by adding over 8 GW of new capacity by 2020.
- Is reshaping its portfolio through acquiring over 2 GW of renewable projects in 2017 and announcing exit of 4.3 GW of coal generation.
- Aims to reduce its carbon intensity by 25% from 2016 to 2020.
SCE filed its 2018 General Rate Case application in September 2016 requesting a revenue requirement increase of $196 million or 2.5% for 2018. Intervenors ORA and TURN filed testimony proposing lower spending levels that would result in smaller revenue requirement increases or decreases. SCE rebuttal testimony defended its requested spending levels and forecasted rate base growth of 8.3% annually from 2017-2020. Key upcoming regulatory proceedings for SCE include the 2018 GRC, cost of capital, and programs related to grid modernization, transportation electrification, and distributed energy resources.
Aes barclays ceo energy-power conference finalAES_BigSky
This document provides an overview of The AES Corporation and its business strategy and outlook. Some key points:
- AES operates in several strategic business units globally, with the largest portions of its business in the US, Andes region, and Mexico/Central America/Caribbean.
- It has a portfolio of long-term contracted generation assets that is approximately 80% US dollar denominated.
- AES has several large construction projects underway that will come online between 2018-2020, increasing its contracted portfolio.
- The company aims to strengthen its balance sheet, grow key metrics like free cash flow by 8-10% annually through 2020, and reshape its business mix toward gas and renewables.
01 11-18 evercore isi utilities ceo retreat finalAES_BigSky
The document discusses AES Corporation's business operations and provides forward-looking statements. It notes that AES' portfolio is around 80% contracted and US dollar-denominated. It outlines AES' strategic business units and their expected adjusted pre-tax contributions for 2017. The document also summarizes AES' plans to invest in natural gas, renewable projects, and energy storage to reduce carbon intensity and improve risk-adjusted returns through 2020.
05 08-18 first quarter 2018 financial review final-am plan bAES_BigSky
The document provides an overview of AES Corporation's financial results for the first quarter of 2018. Key points include:
- Adjusted EPS of $0.28, reaffirming full-year outlook through 2020.
- Completed restructuring of the Alto Maipo hydroelectric project in Chile to significantly reduce risks.
- Implemented a new $100 million annual cost reduction program.
- Closed sales of thermal generation assets to further transform the portfolio.
- Advanced several profitable renewable growth projects under construction.
The document discusses AES Corporation's presentation at the JP Morgan Energy Conference. It contains forward-looking statements regarding AES's business operations, earnings growth, and financial and operating performance through 2020. It notes AES's portfolio transformation to longer-term contracted generation and regulated utilities, ongoing efficiency initiatives, and profitable growth through investments in renewables, LNG, and new technologies. AES expects 8-10% average annual growth in adjusted EPS and parent free cash flow through 2020.
The document discusses AES Corporation's business operations and contains forward-looking statements. It notes that certain statements constitute forward-looking statements and are based on reasonable assumptions, but actual results could differ materially from projections. It also includes reconciliations of non-GAAP financial measures. AES operates power plants globally with over 33,000 MW in operation and is improving its risk profile by reducing debt, extending contract durations, decreasing carbon intensity, implementing cost savings, and growing renewables profitably.
02 27-18 fourth quarter & fy 2017 financial review finalAES_BigSky
The AES Corporation reported its fourth quarter and full year 2017 financial results. Key highlights include:
- Adjusted EPS of $1.08 for the full year, toward the upper end of guidance.
- Expect to achieve $500 million in annual cost savings by 2020, increasing the target by $100 million.
- Leveraging platforms by adding over 8 GW of new capacity under construction or in advanced development by 2020.
- Reshaping the portfolio through acquiring over 2 GW of renewable projects in 2017 and announcing the exit of 4.3 GW of coal generation.
- On track to reduce carbon intensity by 25% from 2016 to 2020 and 50% from 2016 to 2030.
The AES Corporation reported its fourth quarter and full year 2017 financial results. Key highlights included:
- Adjusted EPS of $1.08 for the full year, toward the upper end of guidance.
- Plans to realize $100 million in additional annual cost savings through reorganization.
- Expects to leverage platforms by adding over 8 GW of new capacity by 2020.
- Is reshaping its portfolio through acquiring over 2 GW of renewable projects in 2017 and announcing exit of 4.3 GW of coal generation.
- Aims to reduce its carbon intensity by 25% from 2016 to 2020.
SCE filed its 2018 General Rate Case application in September 2016 requesting a revenue requirement increase of $196 million or 2.5% for 2018. Intervenors ORA and TURN filed testimony proposing lower spending levels that would result in smaller revenue requirement increases or decreases. SCE rebuttal testimony defended its requested spending levels and forecasted rate base growth of 8.3% annually from 2017-2020. Key upcoming regulatory proceedings for SCE include the 2018 GRC, cost of capital, and programs related to grid modernization, transportation electrification, and distributed energy resources.
Aes barclays ceo energy-power conference finalAES_BigSky
This document provides an overview of The AES Corporation and its business strategy and outlook. Some key points:
- AES operates in several strategic business units globally, with the largest portions of its business in the US, Andes region, and Mexico/Central America/Caribbean.
- It has a portfolio of long-term contracted generation assets that is approximately 80% US dollar denominated.
- AES has several large construction projects underway that will come online between 2018-2020, increasing its contracted portfolio.
- The company aims to strengthen its balance sheet, grow key metrics like free cash flow by 8-10% annually through 2020, and reshape its business mix toward gas and renewables.
01 11-18 evercore isi utilities ceo retreat finalAES_BigSky
The document discusses AES Corporation's business operations and provides forward-looking statements. It notes that AES' portfolio is around 80% contracted and US dollar-denominated. It outlines AES' strategic business units and their expected adjusted pre-tax contributions for 2017. The document also summarizes AES' plans to invest in natural gas, renewable projects, and energy storage to reduce carbon intensity and improve risk-adjusted returns through 2020.
08 08-17 second quarter 2017 financial review finalAES_BigSky
- The AES Corporation released its Second Quarter 2017 Financial Review, which contained forward-looking statements and non-GAAP financial measures.
- Key highlights included adjusted EPS increasing $0.08 to $0.25 driven by higher availability in MCAC and Argentina, and reaffirming 2017 guidance and expectations through 2020.
- Projects totaling 4,659 MW are under construction and expected to come online through 2020, and AES acquired or has agreements for 1.8 GW of wind and solar to be added through 2020.
05 08-17 first quarter 2017 financial review finalAES_BigSky
- The AES Corporation released its first quarter 2017 financial review, which contained forward-looking statements and non-GAAP financial measures with required reconciliations.
- Key highlights included progress on major construction projects, cost savings initiatives, and plans to reduce merchant coal exposure and carbon intensity.
- AES reaffirmed its 2017 guidance targets and average annual 8-10% growth rate through 2020.
The document provides an overview of The AES Corporation's presentation at the EEI Financial Conference in November 2017. It discusses AES' business operations and growth strategy, including expanding its renewable energy portfolio through projects under construction totaling 2,232 MW by 2018 and 8,437 MW by 2020. It also discusses AES' focus on reshaping its portfolio to reduce carbon intensity and improve risk-adjusted returns through investments in natural gas, renewable energy projects with long-term contracts, and growing markets. The document contains forward-looking statements and includes assumptions and safe harbor disclosures.
11 04-16 third quarter 2016 financial review final (revised mw appendix)AES_BigSky
The AES Corporation reported its third quarter 2016 financial results. Key points include:
- Adjusted EPS decreased to $0.32 per share from $0.38 per share in Q3 2015 due to foreign exchange impacts and restructuring in Chile.
- Proportional free cash flow was $400 million, down from $621 million in Q3 2015 due to working capital impacts in South America.
- The company is on track to achieve its full-year 2016 guidance.
- AES continues to expand its natural gas and renewable generation portfolio through its construction program.
09 25-17 wolfe power & gas leaders conference finalAES_BigSky
The document provides an overview of the AES Corporation's presentation at the Wolfe Power & Gas Leaders Conference on September 26, 2017. It discusses AES' business operations, financial projections, growth strategies and capital allocation plans. Key points include AES targeting 8-10% annual growth in EPS and free cash flow through 2020, increasing its average contract length to 10 years by adding over 8 GW of new capacity, and improving risk profiles by reducing coal exposure and increasing US dollar-denominated cash flows.
The AES Corporation reported its third quarter 2016 financial results. Key points include:
- Adjusted EPS decreased to $0.32 per share from $0.38 per share in Q3 2015 due to foreign exchange impacts and restructuring in Chile.
- Proportional free cash flow was $400 million, down from $621 million in Q3 2015 due to working capital impacts in South America.
- The company is on track to achieve its full-year 2016 guidance.
- AES has 3,389 MW of generation projects under construction globally that are expected to come online through 2019.
- The document provides an overview and financial review of AES Corporation's Q2 2015 results, including adjusted EPS of $0.25, proportional free cash flow of $62 million, and consolidated net cash provided by operating activities of $153 million.
- It reaffirms AES' full-year 2015 guidance and discusses key business updates, such as the commissioning of new power plants, formation of a joint venture in Mexico, and $700 million in returns to shareholders including debt repayments.
- A breakdown of Q2 2015 financial results is also provided for each of AES' Strategic Business Units, with explanations of factors contributing to increases or decreases in adjusted PTC and proportional free cash flow compared to Q2
Capital Power 2016 BMO Capital Markets Infrastructure & Utilities conference ...Capital Power
Capital Power 2016 BMO Capital Markets Infrastructure & Utilities conference CFO Presentation - presented February 4 by Capital Power VP, Taxation & Treasury, Tony Scozzafava
The document provides an overview and financial review of AES Corporation's third quarter 2014 results. Key points include:
1) Adjusted EPS decreased $0.02 from Q3 2013 due to poor hydrology conditions in Brazil and an outage at Masinloc power plant in the Philippines, partially offset by higher contributions from other business units.
2) Full year 2014 adjusted EPS guidance is lowered to a range of $1.30-$1.38 primarily due to an estimated $0.10 per share impact from weak hydrology.
3) Adjusted PTC declined $36 million year-over-year across business units, with a $84 million decrease in Brazil due to hydrology issues offsetting increases
Capital Power March 2016 Investor PresentationCapital Power
This document provides an overview and summary of Capital Power's presentation to investors in March 2016. It discusses:
- The Alberta Climate Leadership Plan including the carbon price, accelerated phase-out of coal by 2030, and renewable energy incentives.
- The expected financial impacts of the plan on Capital Power, including higher compliance costs offset by higher power prices and utilization of carbon credits through 2020.
- Capital Power's financial performance in 2015, growth opportunities, strong contracted cash flows, dividend growth targets, and financial strength.
- The outlook for the Alberta power market including modest demand growth and forecasts for higher power prices as coal is phased out.
This document brings together a set
of latest data points and publicly
available information relevant for
Energy Industry. We are very excited
to share this content and believe that
readers will benefit from this
periodic publication immensely.
This document provides an overview of The AES Corporation and contains forward-looking statements. It summarizes AES's business operations across four continents with 36 GW in operation and 6 GW under construction. It also outlines AES's value proposition, financial metrics, growth drivers through 2018 including a largely funded construction program, and capital allocation plans through 2018 that are expected to increase shareholder value.
The document provides an overview and summary of AES Corporation's first quarter 2016 financial review. Some key points:
- Adjusted EPS decreased from $0.25 to $0.13 primarily due to foreign currency devaluations, lower power prices in the US and expiration of a power purchase agreement in Brazil.
- Proportional free cash flow was $253 million, in line with 2015 levels, with lower margins in the US, Brazil and Europe offset by higher collections in Brazil and the US.
- AES is on track to achieve its $150 million, 3-year cost reduction program and sees growth driven by its $7.5 billion construction program through 2018.
DTE Energy reported a loss for the second quarter of 2006 compared to earnings in the same period in 2005. Operating earnings excluding special items were nearly break-even, with higher earnings from the electric utility offset by losses in other segments due to oil hedging costs and falling natural gas prices. Despite the quarterly loss, DTE maintained its full-year 2006 earnings guidance. Capital investment continued across all business segments to improve operations and support growth.
12 15-14 december investor presentation finalAES_BigSky
The document discusses AES Corporation's forward-looking statements and contains assumptions about future performance. It provides an executive summary of AES' strategy to decrease costs, reduce complexity, leverage existing platforms, and bring in partners. AES has a diversified portfolio of generation and utilities assets, with 80% under long-term contracts. The company is executing projects that yield returns over 15% and developing new capacity. It has invested cash in shareholder returns, debt paydown, and growth projects.
This document provides an overview and summary of The AES Corporation's business operations from the perspective of Andrés Gluski, President and CEO, during a presentation at the Barclays CEO Energy-Power Conference on September 2, 2014. The summary includes highlights about AES' accomplishments, strategic focus on reducing risk and selectively investing in growth, and outlook for delivering higher risk-adjusted returns through 2018. Key growth drivers include AES' global construction program, leveraging existing platforms, and attracting partners to reduce costs and risks.
02 24-16 fourth quarter & fy 2015 financial review finalAES_BigSky
This document provides a summary of AES Corporation's financial results for the fourth quarter and full year of 2015. Some key points:
- Adjusted EPS decreased to $1.22 from $1.30 in 2014 due to negative impacts from foreign exchange rate changes and certain business units, partially offset by positive impacts from other business units and a reduction in shares outstanding.
- In 2015, AES brought online 1,484 MW of new generation projects and has an additional 5,620 MW currently under construction globally.
- AES returned $757 million to shareholders in 2015 through share repurchases and dividends, representing 62% of discretionary cash. An additional $345 million was used to reduce corporate debt.
Progress Energy reported first quarter 2005 results, with ongoing earnings of $0.52 per share and GAAP earnings of $0.38 per share. Core ongoing earnings, which exclude synthetic fuels, were $0.53 per share, up from $0.45 per share in the prior year. Approximately 1,450 employees elected to retire under a voluntary enhanced retirement program. Progress Energy reaffirmed its 2005 ongoing earnings guidance of $2.90 to $3.20 per share.
DTE Energy reported second quarter 2007 earnings of $385 million, up from a loss of $33 million in the second quarter of 2006. Operating earnings were $101 million for the quarter, an increase from an operating loss of $1 million in the prior year. The sale of the company's Antrim Shale gas business and increased non-utility earnings contributed to the earnings growth. DTE Energy also reported year-to-date cash flow from operations of approximately $998 million, a 12% increase from the previous year. The company reiterated its 2007 operating earnings guidance excluding synthetic fuel of $450-485 million and including synthetic fuel of $150-215 million.
The document is the 2018 Annual Meeting presentation for The AES Corporation. It contains forward-looking statements regarding AES's future earnings growth, financial and operating performance. It discusses AES's strategy of transforming and simplifying its portfolio through asset sales and replacing coal capacity with renewables and natural gas. This is aimed at achieving 8-10% annual growth in adjusted EPS and parent free cash flow through 2020 and investment grade credit metrics by 2019, while reducing carbon intensity. In 2017 AES grew through renewable investments and acquiring sPower, and expects further growth in 2018 by adding over 2 GW of new projects.
The AES Corporation released its first quarter 2017 financial review. Some key points include:
- AES is on track to achieve its $400 million cost reduction and revenue enhancement program by 2020.
- AES is advancing its construction program which will contribute significantly to earnings and cash flow growth through 2021.
- AES is reshaping its portfolio to reduce risk by exiting 3.7GW of merchant coal assets in Kazakhstan and Ohio.
- AES is well positioned for future growth through projects under construction, acquisitions like sPower, and an $8-10 billion renewable development pipeline.
- AES expects average annual earnings and cash flow growth of 8-10% through 2020.
The document provides an overview of AES Corporation's Q3 2016 financial results and business outlook. Some key points:
- Q3 2016 adjusted EPS decreased year-over-year due to foreign exchange impacts and restructuring costs in Chile, though results were in line with expectations.
- The US business saw improved margins from rate cases and plant upgrades. The Andes region saw lower fuel costs but impacts from currency devaluation.
- AES has $3.4 billion of construction projects under way through 2019 across multiple countries.
- At Dayton Power & Light, AES is seeking a distribution rider through regulatory filings to support investment and credit ratings.
08 08-17 second quarter 2017 financial review finalAES_BigSky
- The AES Corporation released its Second Quarter 2017 Financial Review, which contained forward-looking statements and non-GAAP financial measures.
- Key highlights included adjusted EPS increasing $0.08 to $0.25 driven by higher availability in MCAC and Argentina, and reaffirming 2017 guidance and expectations through 2020.
- Projects totaling 4,659 MW are under construction and expected to come online through 2020, and AES acquired or has agreements for 1.8 GW of wind and solar to be added through 2020.
05 08-17 first quarter 2017 financial review finalAES_BigSky
- The AES Corporation released its first quarter 2017 financial review, which contained forward-looking statements and non-GAAP financial measures with required reconciliations.
- Key highlights included progress on major construction projects, cost savings initiatives, and plans to reduce merchant coal exposure and carbon intensity.
- AES reaffirmed its 2017 guidance targets and average annual 8-10% growth rate through 2020.
The document provides an overview of The AES Corporation's presentation at the EEI Financial Conference in November 2017. It discusses AES' business operations and growth strategy, including expanding its renewable energy portfolio through projects under construction totaling 2,232 MW by 2018 and 8,437 MW by 2020. It also discusses AES' focus on reshaping its portfolio to reduce carbon intensity and improve risk-adjusted returns through investments in natural gas, renewable energy projects with long-term contracts, and growing markets. The document contains forward-looking statements and includes assumptions and safe harbor disclosures.
11 04-16 third quarter 2016 financial review final (revised mw appendix)AES_BigSky
The AES Corporation reported its third quarter 2016 financial results. Key points include:
- Adjusted EPS decreased to $0.32 per share from $0.38 per share in Q3 2015 due to foreign exchange impacts and restructuring in Chile.
- Proportional free cash flow was $400 million, down from $621 million in Q3 2015 due to working capital impacts in South America.
- The company is on track to achieve its full-year 2016 guidance.
- AES continues to expand its natural gas and renewable generation portfolio through its construction program.
09 25-17 wolfe power & gas leaders conference finalAES_BigSky
The document provides an overview of the AES Corporation's presentation at the Wolfe Power & Gas Leaders Conference on September 26, 2017. It discusses AES' business operations, financial projections, growth strategies and capital allocation plans. Key points include AES targeting 8-10% annual growth in EPS and free cash flow through 2020, increasing its average contract length to 10 years by adding over 8 GW of new capacity, and improving risk profiles by reducing coal exposure and increasing US dollar-denominated cash flows.
The AES Corporation reported its third quarter 2016 financial results. Key points include:
- Adjusted EPS decreased to $0.32 per share from $0.38 per share in Q3 2015 due to foreign exchange impacts and restructuring in Chile.
- Proportional free cash flow was $400 million, down from $621 million in Q3 2015 due to working capital impacts in South America.
- The company is on track to achieve its full-year 2016 guidance.
- AES has 3,389 MW of generation projects under construction globally that are expected to come online through 2019.
- The document provides an overview and financial review of AES Corporation's Q2 2015 results, including adjusted EPS of $0.25, proportional free cash flow of $62 million, and consolidated net cash provided by operating activities of $153 million.
- It reaffirms AES' full-year 2015 guidance and discusses key business updates, such as the commissioning of new power plants, formation of a joint venture in Mexico, and $700 million in returns to shareholders including debt repayments.
- A breakdown of Q2 2015 financial results is also provided for each of AES' Strategic Business Units, with explanations of factors contributing to increases or decreases in adjusted PTC and proportional free cash flow compared to Q2
Capital Power 2016 BMO Capital Markets Infrastructure & Utilities conference ...Capital Power
Capital Power 2016 BMO Capital Markets Infrastructure & Utilities conference CFO Presentation - presented February 4 by Capital Power VP, Taxation & Treasury, Tony Scozzafava
The document provides an overview and financial review of AES Corporation's third quarter 2014 results. Key points include:
1) Adjusted EPS decreased $0.02 from Q3 2013 due to poor hydrology conditions in Brazil and an outage at Masinloc power plant in the Philippines, partially offset by higher contributions from other business units.
2) Full year 2014 adjusted EPS guidance is lowered to a range of $1.30-$1.38 primarily due to an estimated $0.10 per share impact from weak hydrology.
3) Adjusted PTC declined $36 million year-over-year across business units, with a $84 million decrease in Brazil due to hydrology issues offsetting increases
Capital Power March 2016 Investor PresentationCapital Power
This document provides an overview and summary of Capital Power's presentation to investors in March 2016. It discusses:
- The Alberta Climate Leadership Plan including the carbon price, accelerated phase-out of coal by 2030, and renewable energy incentives.
- The expected financial impacts of the plan on Capital Power, including higher compliance costs offset by higher power prices and utilization of carbon credits through 2020.
- Capital Power's financial performance in 2015, growth opportunities, strong contracted cash flows, dividend growth targets, and financial strength.
- The outlook for the Alberta power market including modest demand growth and forecasts for higher power prices as coal is phased out.
This document brings together a set
of latest data points and publicly
available information relevant for
Energy Industry. We are very excited
to share this content and believe that
readers will benefit from this
periodic publication immensely.
This document provides an overview of The AES Corporation and contains forward-looking statements. It summarizes AES's business operations across four continents with 36 GW in operation and 6 GW under construction. It also outlines AES's value proposition, financial metrics, growth drivers through 2018 including a largely funded construction program, and capital allocation plans through 2018 that are expected to increase shareholder value.
The document provides an overview and summary of AES Corporation's first quarter 2016 financial review. Some key points:
- Adjusted EPS decreased from $0.25 to $0.13 primarily due to foreign currency devaluations, lower power prices in the US and expiration of a power purchase agreement in Brazil.
- Proportional free cash flow was $253 million, in line with 2015 levels, with lower margins in the US, Brazil and Europe offset by higher collections in Brazil and the US.
- AES is on track to achieve its $150 million, 3-year cost reduction program and sees growth driven by its $7.5 billion construction program through 2018.
DTE Energy reported a loss for the second quarter of 2006 compared to earnings in the same period in 2005. Operating earnings excluding special items were nearly break-even, with higher earnings from the electric utility offset by losses in other segments due to oil hedging costs and falling natural gas prices. Despite the quarterly loss, DTE maintained its full-year 2006 earnings guidance. Capital investment continued across all business segments to improve operations and support growth.
12 15-14 december investor presentation finalAES_BigSky
The document discusses AES Corporation's forward-looking statements and contains assumptions about future performance. It provides an executive summary of AES' strategy to decrease costs, reduce complexity, leverage existing platforms, and bring in partners. AES has a diversified portfolio of generation and utilities assets, with 80% under long-term contracts. The company is executing projects that yield returns over 15% and developing new capacity. It has invested cash in shareholder returns, debt paydown, and growth projects.
This document provides an overview and summary of The AES Corporation's business operations from the perspective of Andrés Gluski, President and CEO, during a presentation at the Barclays CEO Energy-Power Conference on September 2, 2014. The summary includes highlights about AES' accomplishments, strategic focus on reducing risk and selectively investing in growth, and outlook for delivering higher risk-adjusted returns through 2018. Key growth drivers include AES' global construction program, leveraging existing platforms, and attracting partners to reduce costs and risks.
02 24-16 fourth quarter & fy 2015 financial review finalAES_BigSky
This document provides a summary of AES Corporation's financial results for the fourth quarter and full year of 2015. Some key points:
- Adjusted EPS decreased to $1.22 from $1.30 in 2014 due to negative impacts from foreign exchange rate changes and certain business units, partially offset by positive impacts from other business units and a reduction in shares outstanding.
- In 2015, AES brought online 1,484 MW of new generation projects and has an additional 5,620 MW currently under construction globally.
- AES returned $757 million to shareholders in 2015 through share repurchases and dividends, representing 62% of discretionary cash. An additional $345 million was used to reduce corporate debt.
Progress Energy reported first quarter 2005 results, with ongoing earnings of $0.52 per share and GAAP earnings of $0.38 per share. Core ongoing earnings, which exclude synthetic fuels, were $0.53 per share, up from $0.45 per share in the prior year. Approximately 1,450 employees elected to retire under a voluntary enhanced retirement program. Progress Energy reaffirmed its 2005 ongoing earnings guidance of $2.90 to $3.20 per share.
DTE Energy reported second quarter 2007 earnings of $385 million, up from a loss of $33 million in the second quarter of 2006. Operating earnings were $101 million for the quarter, an increase from an operating loss of $1 million in the prior year. The sale of the company's Antrim Shale gas business and increased non-utility earnings contributed to the earnings growth. DTE Energy also reported year-to-date cash flow from operations of approximately $998 million, a 12% increase from the previous year. The company reiterated its 2007 operating earnings guidance excluding synthetic fuel of $450-485 million and including synthetic fuel of $150-215 million.
The document is the 2018 Annual Meeting presentation for The AES Corporation. It contains forward-looking statements regarding AES's future earnings growth, financial and operating performance. It discusses AES's strategy of transforming and simplifying its portfolio through asset sales and replacing coal capacity with renewables and natural gas. This is aimed at achieving 8-10% annual growth in adjusted EPS and parent free cash flow through 2020 and investment grade credit metrics by 2019, while reducing carbon intensity. In 2017 AES grew through renewable investments and acquiring sPower, and expects further growth in 2018 by adding over 2 GW of new projects.
The AES Corporation released its first quarter 2017 financial review. Some key points include:
- AES is on track to achieve its $400 million cost reduction and revenue enhancement program by 2020.
- AES is advancing its construction program which will contribute significantly to earnings and cash flow growth through 2021.
- AES is reshaping its portfolio to reduce risk by exiting 3.7GW of merchant coal assets in Kazakhstan and Ohio.
- AES is well positioned for future growth through projects under construction, acquisitions like sPower, and an $8-10 billion renewable development pipeline.
- AES expects average annual earnings and cash flow growth of 8-10% through 2020.
The document provides an overview of AES Corporation's Q3 2016 financial results and business outlook. Some key points:
- Q3 2016 adjusted EPS decreased year-over-year due to foreign exchange impacts and restructuring costs in Chile, though results were in line with expectations.
- The US business saw improved margins from rate cases and plant upgrades. The Andes region saw lower fuel costs but impacts from currency devaluation.
- AES has $3.4 billion of construction projects under way through 2019 across multiple countries.
- At Dayton Power & Light, AES is seeking a distribution rider through regulatory filings to support investment and credit ratings.
12 12-16 barclays beaver creek utilities conference finalAES_BigSky
The document provides an overview of AES Corporation's business operations and growth strategy:
- AES operates in key high-growth markets with scale and locational advantages as a low-cost provider.
- The company is pursuing a $6.4 billion construction program to capitalize on these positions, funded through debt and equity.
- AES aims to strengthen its balance sheet by growing free cash flow, reducing debt, and achieving investment grade credit ratings by 2020. This will support disciplined growth and dividend increases.
03 27-17 march investor presentation finalAES_BigSky
The document provides an overview of The AES Corporation's 2017-2020 strategic roadmap. It discusses AES' diversified portfolio of generation and utility businesses, focus on growth in high-growth markets, and targets of 8-10% average annual growth in key metrics through 2020. AES plans to allocate $3.75 billion in discretionary cash through 2020 to maximize returns, including investments in natural gas and renewable projects. The presentation also covers AES' cost savings initiatives, debt reduction goals, and regulatory developments regarding its Dayton Power and Light subsidiary.
This document discusses AES Corporation's strategy of reshaping its business mix by adding long-term contracted projects, capitalizing on growth in key markets, and expecting double-digit earnings and cash flow growth. It provides an overview of AES' business units and major construction projects, outlines guidance for 2016-2018 of high single-digit adjusted EPS growth and over 10% annual free cash flow growth, and discusses risk mitigation efforts like reducing debt and hedging currency exposure.
The document provides an overview of AES Corporation's fourth quarter and full year 2016 financial results. Some key points:
- AES delivered on its 2016 guidance and made progress reducing costs and exiting non-core assets.
- It expects to complete $3.4 billion worth of power projects under construction by 2019.
- AES aims to achieve $350 million in annual cost savings by 2018 and an additional $50 million by 2020 through its Performance Excellence program.
- For 2017, AES expects to deliver 8-10% average annual growth in free cash flow, adjusted EPS, and shareholder dividends through 2020.
2016 Wolfe Research Power & Gas Leaders ConferenceAES_BigSky
- The AES Corporation is an energy company led by Tom O'Flynn, Executive Vice President & CFO.
- The presentation contains forward-looking statements and discusses AES' business strategy, financial projections, and growth expectations through 2021.
- AES expects double-digit growth in free cash flow and earnings driven by $7.8 billion in construction projects under way that will come online between now and 2021.
The document provides an overview of AES Corporation's business strategy and financial expectations. AES is reshaping its business mix to focus on projects with long-term US dollar contracts, capitalizing on growth in key markets. It expects double-digit earnings and free cash flow growth through 2020 as it brings new projects online and strengthens its balance sheet by paying down debt. AES provided guidance for 2016 of $1-1.35 billion in proportional free cash flow and $0.95-1.05 in adjusted EPS, and expects average annual growth rates of over 10% and 12-16%, respectively, from 2017-2018.
04 03-17 april investor presentation finalAES_BigSky
This document provides an overview of The AES Corporation, including forward-looking statements and non-GAAP financial measures. It summarizes AES' diversified power generation portfolio across six strategic business units. It outlines targets for 8-10% average annual growth in free cash flow, EPS, and dividends through 2020. Key drivers of growth include construction projects, cost savings initiatives, and internally generated cash. The presentation provides details on AES' major construction projects and improving credit metrics with a goal of investment grade ratings by 2020.
The AES Corporation released its first quarter 2016 financial review which included the following key points:
- Adjusted EPS decreased from $0.25 to $0.13 primarily due to foreign currency devaluations, lower power prices in the US and Brazil, and a higher quarterly tax rate.
- Proportional free cash flow was $253 million, in line with 2015 levels, with decreases in the US, Andes, Europe, and MCAC SBUs offset by increases in Brazil and Asia.
- The company is on track to achieve its $150 million, 3-year cost reduction program and its $7.5 billion construction program is advancing on schedule and will be the major driver of future
This document provides an overview and summary of The AES Corporation's business operations from the perspective of Andrés Gluski, President and CEO, during a presentation at the Barclays CEO Energy-Power Conference on September 2, 2014. The summary includes highlights about AES' diversified portfolio across different regions, growth strategies focused on leveraging existing platforms and partnerships, a construction program adding nearly 7,000 MW through 2018, and financial outlook projecting adjusted EPS growth of 4-6% through 2015 and 6-8% in 2017-2018.
The document provides an overview of AES Corporation's financial results for the second quarter of 2016. Some key points:
- Adjusted EPS decreased to $0.17 per share compared to $0.26 in Q2 2015, driven by lower margins in Brazil and MCAC SBUs and the impact of foreign currency devaluations.
- Proportional free cash flow increased to $417 million from $62 million in Q2 2015, reflecting the collection of outstanding receivables in Bulgaria.
- Results were generally in line with expectations and the company is on track to achieve its full-year guidance targets.
04 15-15 april investor presentation wc-finalAES_BigSky
This document provides an overview of The AES Corporation, including its business operations, portfolio, financial guidance, and growth strategy. Key points include: AES operates in 6 strategic business units across 21 countries, with 34,732 MW of power generation capacity. For 2015, AES expects adjusted EPS of $1.25-$1.35 driven by new businesses coming online, despite currency and commodity headwinds. Beyond 2015, AES expects average annual adjusted EPS growth of 6-8% through 2018 from its $1.5 billion construction program that is already 70% funded.
This document provides an overview of The AES Corporation, including its business operations, portfolio, financial guidance, and growth strategy. Key points include: AES operates in 6 strategic business units across 21 countries, with 34,732 MW of power generation capacity. For 2015, AES expects adjusted EPS of $1.25-$1.35 due to various challenges, but sees growth of 6-8% annually through 2018 as projects under construction come online. AES also expects proportional free cash flow of $1-1.35 billion in 2015 and 10-15% annual growth through 2018, driving future capital allocation opportunities.
This document provides an overview and executive summary of The AES Corporation's business operations and strategy. It discusses AES' diversified portfolio of generation and utility businesses, 80% of which are contracted or regulated utilities. The presentation outlines AES' strategic pillars of reducing risk and complexity while driving growth and enhancing returns. It also provides financial projections, showing expected adjusted EPS growth of 4-6% through 2015 and 6-8% in 2017-2018, as well as proportional free cash flow growth of 10-15% annually from 2014-2018.
This document provides an overview and summary of The AES Corporation's presentation at the Wolfe Research Power & Gas Leaders Conference on September 18, 2014. The presentation discusses AES' diversified portfolio of generation and utility businesses, its strategy to reduce risk, drive growth and enhance returns, and its outlook for 2014-2018 which includes adjusted EPS growth of 4-6% through 2015 and 6-8% in 2017-2018.
The document provides an overview and financial review of AES Corporation's second quarter 2014 results. Some key points:
- Adjusted EPS for Q2 2014 was $0.28, achieving $2 billion in asset sale proceeds a year early.
- Construction is underway on over 4,500 MW of new capacity projects and 2,400 MW of environmental upgrades by 2018.
- Partnerships are expanding access to capital while leveraging existing platforms drives growth.
- Cost reduction initiatives are on track to lower global overhead expenses by $200 million by 2015.
- 2014 guidance is reaffirmed despite some impacts from dry hydrology conditions.
11 06-14 third quarter 2014 financial review finalAES_BigSky
The document discusses AES Corporation's third quarter 2014 financial results and outlook. Key points include:
- Q3 2014 adjusted EPS decreased $0.02 from Q3 2013 due to poor hydrology conditions impacting Brazil and Panama.
- Full year 2014 adjusted EPS is expected to be negatively impacted by $0.10 due to hydrology, including $0.06 year-to-date.
- Q3 2014 adjusted PTC increased at the US, Andes and MCAC SBUs but decreased at Brazil and Asia SBUs compared to Q3 2013.
- The company expects to return up to $480 million to shareholders in 2014 through dividends and share repurchases, representing
03 30-15 april investor presentation finalAES_BigSky
This document provides an overview of The AES Corporation, including its business operations, portfolio, growth drivers, and financial guidance. Some key points:
- AES operates in 6 strategic business units across 21 countries, with over 34,000 MW of power generation capacity.
- The company has taken steps to reduce risk and complexity by exiting non-core markets and improving profitability. It is also pursuing a $1.5 billion construction program that is 70% funded and expected to drive earnings growth through 2018.
- For 2015, AES provides Adjusted EPS guidance of $1.25-$1.35 per share, and proportional free cash flow guidance of $1-1.35 billion. It expects to allocate
Similar to 02 27-18 march investor presentation final (20)
UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
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Link de registro
https://business.myinfinity.global/maurod8/
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Contacto:
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2. 2Contains Forward-Looking Statements
Certain statements in the following presentation regarding AES business operations may constitute
forward-looking statements. Such forward-looking statements include, but are not limited to, those
related to future earnings growth and financial and operating performance. Forward-looking statements
are not intended to be a guarantee of future results, but instead constitute AES current expectations
based on reasonable assumptions. Forecasted financial information is based on certain material
assumptions. These assumptions include, but are not limited to, accurate projections of future interest
rates, commodity prices and foreign currency pricing, continued normal or better levels of operating
performance and electricity demand at our distribution companies and operational performance at our
generation businesses consistent with historical levels, as well as achievements of planned productivity
improvements and incremental growth from investments at investment levels and rates of return
consistent with prior experience. For additional assumptions see Slide 31 and the Appendix to this
presentation. Actual results could differ materially from those projected in our forward-looking
statements due to risks, uncertainties and other factors. Important factors that could affect actual results
are discussed in AES filings with the Securities and Exchange Commission including but not limited to
the risks discussed under Item 1A Risk Factors and Item 7: “Management’s Discussion & Analysis” in
AES’ 2017 Annual Report on Form 10-K, as well as our other SEC filings. AES undertakes no obligation
to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.
Reconciliation to U.S. GAAP Financial Information
The following presentation includes certain “non-GAAP financial measures” as defined in Regulation G
under the Securities Exchange Act of 1934, as amended. Schedules are included herein that reconcile
the non-GAAP financial measures included in the following presentation to the most directly comparable
financial measures calculated and presented in accordance with U.S. GAAP.
Safe Harbor Disclosure
3. 3Contains Forward-Looking Statements
1. Earnings refers to Adjusted EPS (a non-GAAP financial measure). Parent Free Cash Flow is also a non-GAAP financial measure. See Appendix for
definitions.
Continuing to Transform and Simplify, While Achieving Financial
Objectives
We Are Well Positioned to:
Deliver 8% to 10% average
annual growth in earnings1
and Parent Free Cash Flow1
through 2020
Achieve investment
grade credit metrics
in 2019
Reduce our carbon
intensity by 25% from
2016-2020 and 50% by
2030
Maximizing
efficiency
through
reorganization
yielding $100
million in
additional annual
savings
Reducing
financial risk
by prepaying
$1 billion in
Parent debt
Leveraging
platforms by
adding 4.4 GW
of projects under
construction
Reshaping
portfolio
through a
balanced
approach
to reduce
overall risk
4. 4Contains Forward-Looking Statements
Expect to Achieve $500 Million in Cost Savings by 2020
$ in Millions
Maximizing Efficiency: Increasing Run Rate Cost Savings Target
by $100 Million
$500
$250
$50 $50
$50
2012-2016 2017 2018
Estimate
2019
Estimate
2020
Estimate
Total
Achieved Old Target New Target
$100
$75 $25
5. 5Contains Forward-Looking Statements
Adding up to 8.3 GW of New Capacity Through 2020
On Track to Complete Projects Under Construction; Making
Significant Progress Toward Reshaping Our Portfolio
2,307
4,301
887
2017 2018 2019 2020 Total
1,952
3,330
874
2,118 8,274
Total Capacity Under Construction
Renewables Under Signed PPAs/Exclusive Negotiations
Renewables in Advanced Development
Renewables Acquired
Completed Construction
6. 6Contains Forward-Looking Statements
l As discussed on our previous calls, the project has experienced construction
delays and cost overruns
l Alto Maipo has negotiated a fixed price, lump sum EPC contract with
Strabag, the project’s main contractor for the entire project
„ Transfers all geological risk to Strabag
„ Includes material capital commitments from Strabag to fund additional costs
„ Requires concessions from project lenders and meaningful contributions from AES
Gener, which are tied to construction milestones
„ Expect to receive approval from the lenders in the second quarter of 2018
l Once completed, Alto Maipo will diversify AES Gener’s generation mix and
provide a zero emission source of power in Chile’s load center for many
decades
Leveraging Our Platforms: 531 MW Alto Maipo Hydro Project in
Chile
7. 7Contains Forward-Looking Statements
671 MW CCGT, COD1: 1H 2018
Leveraging Our Platforms: Eagle Valley in Indiana
l Achieved full load in February
2018
l Expect to achieve COD1 in the first
half of 2018
1. Commercial Operations Date.
8. 8Contains Forward-Looking Statements
1,284 MW CCGT, COD1: 1H 2020
100 MW Energy Storage, COD1 1H 2021
Leveraging Our Platforms: Southland Repowering in California
l 20-year PPAs with Southern
California Edison
l Construction proceeding as
planned
l 100 MW of 4-hour duration energy
storage – world’s largest lithium-
ion energy storage facility coming
on-line in 1H 2021
1. Commercial Operations Date.
9. 9Contains Forward-Looking Statements
380 MW CCGT & 180,000 m3 LNG Tank and Regasification Facility
COD1: 2H 2018 (CCGT) and 2019 (LNG)
Leveraging Our Platforms: Colón in Panama
l Expect to achieve first fire of
CCGT in March 2018
l Making good progress on LNG
tank and regasification facility
1. Commercial Operations Date.
10. 10Contains Forward-Looking Statements
In 2017, Acquired 2.3 GW of Long-Term Contracted Renewables
Reshaping Our Portfolio to Deliver Attractive Returns to
Shareholders and Reduce Carbon Exposure
Brazil: 686 MW of Wind
and Solar
U.S.: sPower (1.3 GW
of Wind and Solar)
Mexico: 306 MW of
Wind
11. 11Contains Forward-Looking Statements
Offering New Innovative Energy Solutions
Reshaping Our Portfolio to Deliver Attractive Returns to
Shareholders and Reduce Carbon Exposure
Solar Plus 5-Hour Duration Energy
Storage
Fluence Energy Storage Joint
Venture with Siemens
12. 12Contains Forward-Looking Statements
Replacing Coal Capacity with Renewables and Natural Gas
Balanced Approach to De-Risking Our Portfolio
41% 33% 29%
32%
37%
37%
23% 26% 31%
Year-End 2015 Year-End 2017 Year-End 2020
Coal Gas Renewables Oil, Pet Coke & Diesel
In 2017, Announced Exit of 4.3 GW, or 30%, of Coal-Fired Capacity
13. 13Contains Forward-Looking Statements
Carbon Intensity (Tons of CO2/MWh of Generation)
Establishing Carbon Intensity Reduction Targets
0.69 0.67
0.60 0.55 0.51
0.31
2016 Actual 2017 Actual 2018 2019 2020 2030
2016-2020: 25% Reduction in Carbon Intensity
2016-2030: 50% Reduction in Carbon Intensity
2016-2020: Reduction of 20 Million Tons of CO2 Emissions
14. 14Contains Forward-Looking Statements
l One-time charge of $1.08 per share in 2017 largely due to
deemed repatriation of foreign earnings
„ Non-cash due to significant NOL position
l Near-term impacts of $0.05 to $0.08
„ Lower tax shield due to Parent leverage
„ Global Intangible Low Taxed Income (GILTI)
w Foreign earnings above a threshold now subject to U.S. tax
l Over the longer-term, tax reform can be beneficial
„ Territorial tax regime
l Actions taken to offset impacts
Impact of U.S. Tax Reform
15. 15Contains Forward-Looking Statements
Since 2011, Reduced Parent Debt by $2 Billion
($ in Millions)
1. Excludes intercompany borrowings of approximately $200 million.
Continuing to Improve Our Debt Profile
$6,515
$4,670($530) ($308)
($419) ($240) ($301) ($254)
$207
Total Parent
Debt as of
December
31, 2011
2012 2013 2014 2015 2016 2017 2017
Revolver
Draws
Total Parent
Debt as of
December
31, 2017
1
Prepaying $1 Billion in Parent Debt in 1H 2018,
to Achieve Investment Grade
16. 16Contains Forward-Looking Statements
$1.08
$1.15-$1.25
8%-10%
Average
Annual
Growth2
2017 Actual 2018 Guidance 2020 Expectation
$ Per Share
1. A non-GAAP financial measure. See Appendix for definition.
2. From 2017 Adjusted EPS of $1.08, in line with prior expectation for 8% to 10% average annual growth through 2020 from the mid-point of its 2016 Adjusted
EPS guidance of $0.95 to $1.05.
Adjusted EPS1 Guidance and Expectations
+ New businesses,
including US
renewables, full
year of DPP
CCGT, Colón
CCGT
+ DPL regulatory
+ Andes
+ Cost savings
+ Parent interest
− Sales of
Masinloc,
Kazakhstan
− Tax reform
17. 17Contains Forward-Looking Statements
$637
$600-$675
8%-10%
Average
Annual
Growth2
2017 Actual 2018 Expectation 2020 Expectation
$ in Millions
1. A non-GAAP financial measure. See Appendix for definition.
2. From 2017 Parent Free Cash Flow of $637 million, in line with prior expectation for 8% to 10% average annual growth through 2020 from the mid-point of its
2016 expectation of $525 to $625 million.
Parent Free Cash Flow1 Expectations
+ Higher margins
+ Cost savings
+ Parent interest
− Gener
− IPALCO tax
sharing payments
− Restructuring
costs
18. 18Contains Forward-Looking Statements
$ in Millions
Discretionary Cash – Sources
($1,899)
Discretionary Cash – Uses
($1,899)
1. A non-GAAP financial measure. See Appendix for definition and reconciliation to the nearest GAAP measure.
2018 Parent Capital Allocation Plan
$11
$1,899
$1,000
$250
$600-
$675
Beginning
Cash
Masinloc
Sale
Proceeds
Placeholder
for Additional
Asset Sale
Proceeds
Parent FCF Total
Discretionary
Cash
$105
$250
$344
$800
$400
1
Investments in
Subsidiaries
Shareholder
Dividend
Maximizing Discretionary Cash to Increase Risk-Adjusted Returns
for Shareholders
Debt Prepayment
Repayment of Revolver
& Other Temporary
Borrowings
Unallocated
19. 19Contains Forward-Looking Statements
$11
$4,230
$1,000
$1,000
$2,219
2018 Beginning
Cash
Masinloc Sale
Proceeds
Remaining Asset
Sale Proceeds
Target
Parent FCF Total Discretionary
Cash
$ in Millions
1. A non-GAAP financial measure. See Appendix for definition. Parent Free Cash Flow based on the mid-point of 2018 expectation of $638, plus $1,581 for
2019-2020 (based on the mid-point of our 8%-10% average annual growth rate off 2017 actual of $637).
$4.2 Billion in Discretionary Cash Being Generated 2018-2020
1
20. 20Contains Forward-Looking Statements
$ in Millions
1. Includes: $11 beginning cash; $2,000 asset sale proceeds; and Parent Free Cash Flow of approximately $2,219. Parent Free Cash Flow based on the mid-
point of 2018 expectation of $638, plus $1,581 for 2019-2020 (based on the mid-point of our 8%-10% average annual growth rate off 2017 actual of $637).
2. Assumes constant payment of $0.13 per share each quarter on 660 million shares outstanding.
2018-2020: Allocating $4.2 Billion1 Discretionary Cash to
Maximize Risk-Adjusted Returns
$1,250
$750$1,030
$800
$400 Unallocated Discretionary
Cash
l Parent de-levering (~$400)
l Growth investments
l Dividend growth
2018 Repayment of Revolver &
Other Temporary Borrowings
Identified Investments
in SubsidiariesShareholder Dividend2
Allocating a Significant Portion of Discretionary Cash to Achieve
Investment Grade and to Shareholder Dividend
2018 Debt Prepayment
21. 21Contains Forward-Looking Statements
1. Earnings refers to Adjusted EPS (a non-GAAP financial measure). Parent Free Cash Flow is also a non-GAAP financial measure. See Appendix for
definitions.
Continuing to Transform and Simplify, While Achieving Financial
Objectives
We Are Well Positioned to:
Deliver 8% to 10% average
annual growth in earnings1
and Parent Free Cash Flow1
through 2020
Achieve investment
grade credit metrics
in 2019
Reduce our carbon
intensity by 25% from
2016-2020 and 50% by
2030
Maximizing
efficiency
through
reorganization
yielding $100
million in
additional annual
savings
Reducing
financial risk
by prepaying
$1 billion in
Parent debt
Leveraging
platforms by
adding 4.4 GW
of projects under
construction
Reshaping
portfolio
through a
balanced
approach
to reduce
overall risk
22. 22Contains Forward-Looking Statements
l Currencies and Commodities Slides 23-25
l AES Modeling Disclosures Slide 26
l FY 2018 Adjusted PTC1 Modeling Ranges Slide 27
l Construction Program Slide 28
l Reconciliations Slides 29-30
l Assumptions & Definitions Slides 31-32
1. A non-GAAP financial measure.
Appendix
23. 23Contains Forward-Looking Statements
Interest Rates1
Currencies
Commodity
l 100 bps move in interest rates over year-to-go 2018 is forecasted to have a change in EPS of approximately $0.025
10% appreciation in USD against the
following key currencies is forecasted to
have the following negative EPS impacts:
2018
Average Rate Sensitivity
Brazilian Real (BRL) 3.39 Less than $0.005, Long Exposure
Colombian Peso (COP) 3,030 $0.005, Long Exposure
Euro (EUR) 1.22 Less than $0.005, Long Exposure
Great British Pound (GBP) 1.36 Less than $0.005, Long Exposure
Argentine Peso (ARS) 20.77 ($0.005), Short Exposure
Chilean Peso (CLP) 617 Less than ($0.005), Short Exposure
10% increase in commodity prices is
forecasted to have the following EPS
impacts:
2018
Average Rate Sensitivity
Illinois Basin Coal $37/ton
$0.010, Short Exposure
Rotterdam Coal (API 2) $90/ton
NYMEX WTI Crude Oil $66/bbl
$0.005, Long Exposure
IPE Brent Crude Oil $60/bbl
NYMEX Henry Hub Natural Gas $2.8/mmbtu
Less than $0.005, Long Exposure
UK National Balancing Point Natural Gas £0.5/therm
US Power (DPL) – PJM AD Hub $31/MWh $0.010, Long Exposure
Note: Guidance provided on February 27, 2018. Sensitivities are provided on a standalone basis, assuming no change in the other factors, to illustrate the magnitude and direction of
changing market factors on AES’ results. Estimates show the impact on full year 2018 Adjusted EPS. Actual results may differ from the sensitivities provided due to execution of risk
management strategies, local market dynamics and operational factors. Full year 2018 guidance is based on currency and commodity forward curves and forecasts as of December
31, 2017. There are inherent uncertainties in the forecasting process and actual results may differ from projections. The Company undertakes no obligation to update the guidance
presented. Please see Item 1 of the Form 10-K for a more complete discussion of this topic. AES has exposure to multiple coal, oil, and natural gas, and power indices; forward
curves are provided for representative liquid markets. Sensitivities are rounded to the nearest $0.005 cent per share.
1. The move is applied to the floating interest rate portfolio balances as of December 31, 2017.
Full Year 2018 Guidance Estimated Sensitivities
24. 24Contains Forward-Looking Statements
Full Year 2020 FX Sensitivity by Currency1
(Cents Per Share, Exposures Before Hedges)
1. Sensitivity represents full year 2020 exposure to a 10% appreciation of USD relative to foreign currency as of December 31, 2017.
Foreign Exchange (FX) Risk Before Hedges
0.5
0.5
1.5
1.0 1.0
0.5
2.0
Argentine Peso Brazilian Real Chilean Peso Colombian Peso Euro Indian Rupee Total
l 2020 correlated FX risk before hedges is $0.02 for 10% USD appreciation
l FX risk mitigated on a rolling basis by active FX hedging
Long Exposures
Short Exposures
25. 25Contains Forward-Looking Statements
Full Year 2020 Adjusted EPS1 Commodity Sensitivity2 for 10%
Change in Commodity Prices
1. A non-GAAP financial measure. See “definitions”.
2. Domestic and International sensitivities are combined and assumes each fuel category moves 10%. Adjusted EPS is negatively correlated to coal price
movement, and positively correlated to gas, oil and power price movements.
Commodity Exposure is Mostly Hedged in the Medium- to Long-
Term
(2.0)
0.0
2.0
Coal Gas Oil DPL Power
CentsPerShare
26. 26Contains Forward-Looking Statements
Parent Company Cash Flow Assumptions 2017 2018
Subsidiary Distributions (a) $1,203 $1,100-$1,175
Cash Interest (b) ($290) ($260)
Corporate Overhead ($179) ($140)
Parent-Funded SBU Overhead ($93) ($90)
Business Development ($4) ($10)
Cash for Development, General & Administrative and
Tax (c)
($276) ($240)
PARENT FREE CASH FLOW1 (a – b – c) $637 $600-$675
$ in Millions
1. A non-GAAP financial measure. See “definitions”.
AES Modeling Disclosures
27. 27Contains Forward-Looking Statements
$ in Millions
1. A non-GAAP financial metric. See “definitions”.
2. Total AES Adjusted PTC includes after-tax adjusted equity in earnings.
2018 Adjusted PTC Modeling Ranges
SBU
2018 Adjusted PTC Modeling
Ranges as of 2/27/181 Drivers of Growth Versus 2017
US $350-$390
+ Solar
+ DPL regulatory
− Pass through of tax reform at
IPL
Andes $510-$560
+ Argentina reforms
+ Higher generation at Chivor
+ Higher generation in Chile
Brazil $20-$30
− 2017 gain on legal
settlement
MCAC $390-$440
+ Full year of DPP CCGT
+ 2017 impact of hurricanes
Eurasia $180-$210
− Masinloc
− Kazakhstan
Total SBUs $1,450-$1,630
Corporate & Other2 ($340)-($380)
+ G&A savings
+ Parent interest
TOTAL AES ADJUSTED PTC1.2 $1,110-$1,250
28. 28Contains Forward-Looking Statements
Project Country AES Ownership Fuel
Gross
MW
Expected
COD
Total Capex
Total
AES
Equity
ROE Comments
Construction Projects Coming On-Line 2017-2020
Eagle Valley CCGT US-IN 70% Gas 671 1H 2018 $613 $193
Colón Panama 50% Gas 380 2H 2018 $1,003 $196
Regasification and LNG
storage tank expected on-line
in 2019
OPGC 2 India 49% Coal 1,320 2H 2018 $1,585 $227
Alto Maipo Chile 62% Hydro 531 1H 2019 $2,513 $413
Southland Repowering US-CA 100% Gas 1,284 1H 2020 $2,287 $329
Excludes 100 MW of energy
storage expected to come on-
line in 1H 2021
Total 4,186 $8,001 $1,358
ROE1 ~12%
Weighted average; net
income divided by AES
equity contribution
CASH YIELD1 ~13%
Weighted average;
subsidiary distributions
divided by AES equity
contribution
$ in Millions, Unless Otherwise Stated
1. Based on projections. See our 2017 Form 10-K for further discussion of development and construction risks. Based on 3-year average contributions from all
projects under construction, once all projects under construction are completed.
Attractive Returns from Construction Pipeline
29. 29Contains Forward-Looking Statements
$ in Millions, Except Per Share Amounts
FY 2017 FY 2016
Net of NCI2
Per Share
(Diluted) Net of
NCI2
Net of NCI2
Per Share
(Diluted) Net of
NCI2
Loss from Continuing Operations, Net of Tax, Attributable to AES and Non-
GAAP Diluted EPS
($507) ($0.76)3 ($20) ($0.04)
Add: Income Tax Expense (Benefit) Attributable to AES $828 ($111)
Pre-Tax Contribution $321 ($131)
Adjustments
Unrealized Derivative Gains ($3) - ($9) ($0.01)
Unrealized Foreign Currency (Gains) Losses ($59) ($0.10) $22 $0.03
Disposition/Acquisition Losses $123 $0.194 $6 $0.015
Impairment Losses $542 $0.826 $933 $1.417
Losses on Extinguishment of Debt $62 $0.098 $29 $0.059
Restructuring Costs $31 $0.05 - -
U.S. Tax Law Reform Impact - $1.0810 - -
Less: Net Income Tax Benefit - ($0.29)11 - ($0.51)12
ADJUSTED PTC1 & ADJUSTED EPS1 $1,017 $1.08 $850 $0.94
1. Non-GAAP financial measures. See “definitions”.
2. NCI is defined as Noncontrolling Interests.
3. In calculating diluted loss per share under GAAP of ($0.77), the Company excluded common stock equivalents from the weighted average shares as their inclusion would be anti-dilutive. However, for purposes of calculating Adjusted EPS, the impact of dilutive
common stock equivalents of $0.01 was included, resulting in Non-GAAP diluted loss per share of ($0.76)..
4. Amount primarily relates to loss on sale of Kazakhstan CHPs of $49 million, or $0.07 per share, realized derivative losses associated with the sale of Sul of $38 million, or $0.06 per share, loss on sale of Kazakhstan Hydroelectric plants of $33 million, or $0.05
per share, costs associated with early plant closure of DPL of $24 million, or $0.04 per share; partially offset by gain on Masinloc contingent consideration of $23 million, or $0.03 per share and gain on sale of Zimmer and Miami Fort of $13 million, or $0.02 per
share.
5. Amount primarily relates to the loss on deconsolidation of UK Wind of $20 million, or $0.03 per share and losses associated with the sale of Sul of $10 million, or $0.02; partially offset by the gain on sale of DPLER of $22 million, or $0.03 per share.
6. Amount primarily relates to asset impairment at Kazakhstan CHPs of $94 million, or $0.14 per share, at Kazakhstan hydroelectric plants of $92 million, or $0.14 per share, at Laurel Mountain of $121 million, or $0.18 per share, at DPL of $175 million, or $0.27 per
share and at Kilroot of $37 million, or $0.05 per share.
7. Amount primarily relates to asset impairments at DPL of $859 million, or $1.30 per share; $159 million at Buffalo Gap II ($49 million, or $0.07 per share, net of NCI); and $77 million at Buffalo Gap I ($23 million, or $0.03 per share, net of NCI).
8. Amount primarily relates to losses on early retirement of debt at the Parent Company of $92 million, or $0.14 per share, at AES Gener of $20 million, or $0.02 per share, at IPALCO of $9 million or 0.01 per share; partially offset by a gain on early retirement of
debt at Alicura of $65 million, or $0.10 per share.
9. Amount primarily relates to the loss on early retirement of debt at the Parent Company of $19 million, or $0.03 per share.
10. Amount relates to a one-time transition tax on foreign earnings of $675 million, or $1.02 per share and the remeasurement of deferred tax assets and liabilities to lower corporate tax rates of $39 million, or $0.06 per share.
11. Amount primarily relates to the income tax benefit associated with asset impairment losses of $148 million, or $0.22 per share in the twelve months ended December 31, 2017.
12. Amount primarily relates to the income tax benefit associated with asset impairment of $332 million, or $0.50 per share in the twelve months ended December 31, 2016.
Reconciliation of FY Adjusted PTC1 and Adjusted EPS1
30. 30Contains Forward-Looking Statements
$ in Millions, Except Per Share Amounts
1. A non-GAAP financial measure. See “definitions”.
2. The Company is not able to provide a corresponding GAAP equivalent for its Adjusted EPS guidance. In providing its full year 2017 Adjusted EPS guidance, the Company notes
that there could be differences between expected reported earnings and estimated operating earnings, including the items listed below. Therefore, management is not able to
estimate the aggregate impact, if any, of these items on reported earnings. As of December 31, 2017, the impact of these items was as follows: (a) unrealized gains or losses
related to derivative transactions represent a gain of $3 million; (b) unrealized foreign currency gains or losses represent a gain of $60 million; (c) gains or losses and associated
benefits and costs due to dispositions and acquisitions of business interests, including early plant closures, and the tax impact of the repatriation of sales proceeds represent a
loss of $114 million; (d) losses due to impairments of $394 million; (e) gains, losses and costs due to the early retirement of debt represent a loss of $42 million; (f) costs directly
associated with a major restructuring program, including, but not limited to, workforce reduction efforts, relocations, and office consolidation of $21 million; and (g) tax benefit or
expense related to the enactment effects of 2017 U.S. tax law reform of $714 million.
Reconciliation of 2017 Guidance
2017 Guidance
Consolidated Net Cash Provided by Operating
Activities
$2,000-$2,800
Consolidated Free Cash Flow1 $1,400-$2,000
Adjusted EPS1,2 $1.00-$1.10
Reconciliation
Consolidated Net Cash Provided by Operating
Activities (a)
$2,000-$2,800
Maintenance & Environmental Capital
Expenditures (b)
$600-$800
Consolidated Free Cash Flow1 (a - b) $1,400-$2,000
l Commodity and foreign currency exchange rates and forward curves as of
September 30, 2017
31. 31Contains Forward-Looking Statements
Forecasted financial information is based on certain material assumptions. Such assumptions include, but are not limited
to: (a) no unforeseen external events such as wars, depressions, or economic or political disruptions occur; (b)
businesses continue to operate in a manner consistent with or better than prior operating performance, including
achievement of planned productivity improvements including benefits of global sourcing, and in accordance with the
provisions of their relevant contracts or concessions; (c) new business opportunities are available to AES in sufficient
quantity to achieve its growth objectives; (d) no material disruptions or discontinuities occur in the Gross Domestic
Product (GDP), foreign exchange rates, inflation or interest rates during the forecast period; and (e) material business-
specific risks as described in the Company’s SEC filings do not occur individually or cumulatively. In addition, benefits
from global sourcing include avoided costs, reduction in capital project costs versus budgetary estimates, and projected
savings based on assumed spend volume which may or may not actually be achieved. Also, improvement in certain Key
Performance Indicators (KPIs) such as equivalent forced outage rate and commercial availability may not improve
financial performance at all facilities based on commercial terms and conditions. These benefits will not be fully reflected
in the Company s consolidated financial results.
The cash held at qualified holding companies ( QHCs ) represents cash sent to subsidiaries of the Company domiciled
outside of the U.S. Such subsidiaries had no contractual restrictions on their ability to send cash to AES, the Parent
Company, however, cash held at qualified holding companies does not reflect the impact of any tax liabilities that may
result from any such cash being repatriated to the Parent Company in the U.S. Cash at those subsidiaries was used for
investment and related activities outside of the U.S. These investments included equity investments and loans to other
foreign subsidiaries as well as development and general costs and expenses incurred outside the U.S. Since the cash
held by these QHCs is available to the Parent, AES uses the combined measure of subsidiary distributions to Parent and
QHCs as a useful measure of cash available to the Parent to meet its international liquidity needs. AES believes that
unconsolidated parent company liquidity is important to the liquidity position of AES as a parent company because of the
non-recourse nature of most of AES’ indebtedness.
Assumptions
32. 32Contains Forward-Looking Statements
l Adjusted Earnings Per Share, a non-GAAP financial measure, is defined as diluted earnings per share from continuing operations excluding gains or losses of both
consolidated entities and entities accounted for under the equity method due to (a) unrealized gains or losses related to derivative transactions, (b) unrealized foreign currency
gains or losses, (c) gains or losses and associated benefits and costs due to dispositions and acquisitions of business interests, including early plant closures, and the tax impact
from the repatriation of sales proceeds, (d) losses due to impairments, (e) gains, losses and costs due to the early retirement of debt, (f) costs directly associated with a major
restructuring program, including, but not limited to, workforce reduction efforts, relocations, and office consolidation; and (g) tax benefit or expense related to the enactment
effects of 2017 U.S. tax law reform. The GAAP measure most comparable to Adjusted EPS is diluted earnings per share from continuing operations. We believe that Adjusted
EPS better reflects the underlying business performance of the Company and is considered in the Company’s internal evaluation of financial performance. Factors in this
determination include the variability due to unrealized gains or losses related to derivative transactions, unrealized foreign currency gains or losses, losses due to impairments
and strategic decisions to dispose of or acquire business interests, retire debt or implement restructuring initiatives, which affect results in a given period or periods. Adjusted
EPS should not be construed as an alternative to diluted earnings per share from continuing operations, which is determined in accordance with GAAP. For the year ending
December 31, 2017, the definition was revised to exclude associated benefits and costs due to acquisitions, dispositions and early plant closures, including the tax impact of
decisions made at the time of sale to repatriate proceeds; costs directly associated with a major restructuring program, including, but not limited to, workforce reduction efforts,
relocations, and office consolidation; and tax benefit or expense related to the enactment effects of 2017 U.S. tax law reform.
l Adjusted Pre-Tax Contribution, a non-GAAP financial measure, is defined as pre-tax income from continuing operations attributable to AES excluding gains or losses of the
consolidated entity due to (a) unrealized gains or losses related to derivative transactions, (b) unrealized foreign currency gains or losses, (c) gains or losses and associated
benefits and costs due to dispositions and acquisitions of business interests, including early plant closures, (d) losses due to impairments, (e) gains, losses and costs due to the
early retirement of debt, and (f) costs directly associated with a major restructuring program, including, but not limited to, workforce reduction efforts, relocations, and office
consolidation. Adjusted PTC also includes net equity in earnings of affiliates on an after-tax basis adjusted for the same gains or losses excluded from consolidated entities. The
GAAP measure most comparable to Adjusted PTC is income from continuing operations attributable to AES. We believe that Adjusted PTC better reflects the underlying
business performance of the Company and is considered in the Company’s internal evaluation of financial performance. Factors in this determination include the variability due to
unrealized gains or losses related to derivative transactions, unrealized foreign currency gains or losses, losses due to impairments and strategic decisions to dispose of or
acquire business interests, retire debt or implement restructuring initiatives, which affect results in a given period or periods. In addition, for Adjusted PTC, earnings before tax
represents the business performance of the Company before the application of statutory income tax rates and tax adjustments, including the effects of tax planning,
corresponding to the various jurisdictions in which the Company operates. Adjusted PTC should not be construed as an alternative to income from continuing operations
attributable to AES, which is determined in accordance with GAAP. For the year ending December 31, 2017, the definition was revised to exclude associated benefits and costs
due to dispositions and acquisitions of business interests, including early plant closures, and costs directly associated with a major restructuring program, including, but not
limited to, workforce reduction efforts, relocations, and office consolidation.
l Free Cash Flow, a non-GAAP financial measure, is defined as net cash from operating activities (adjusted for service concession asset capital expenditures) less maintenance
capital expenditures (including non-recoverable environmental capital expenditures), net of reinsurance proceeds from third parties. AES believes that Free Cash Flow is a useful
measure for evaluating our financial condition because it represents the amount of cash generated by the business after the funding of maintenance capital expenditures that
may be available for investing in growth opportunities or for repaying debt. Free Cash Flow should not be construed as an alternative to net cash from operating activities, which
is determined in accordance with GAAP.
l NCI is defined as noncontrolling interests.
l Parent Company Liquidity (a non-GAAP financial measure) is defined as cash at the Parent Company plus availability under corporate credit facilities plus cash at qualified
holding companies ( QHCs ). AES believes that unconsolidated Parent Company liquidity is important to the liquidity position of AES as a Parent Company because of the non-
recourse nature of most of AES indebtedness.
l Parent Free Cash Flow (a non-GAAP financial measure) should not be construed as an alternative to Net Cash Provided by Operating Activities which is determined in
accordance with GAAP. Parent Free Cash Flow is equal to Subsidiary Distributions less cash used for interest costs, development, general and administrative activities, and tax
payments by the Parent Company. Parent Free Cash Flow is used for dividends, share repurchases, growth investments, recourse debt repayments, and other uses by the
Parent Company.
l Subsidiary Liquidity (a non-GAAP financial measure) is defined as cash and cash equivalents and bank lines of credit at various subsidiaries.
l Subsidiary Distributions should not be construed as an alternative to Net Cash Provided by Operating Activities which is determined in accordance with GAAP. Subsidiary
Distributions are important to the Parent Company because the Parent Company is a holding company that does not derive any significant direct revenues from its own activities
but instead relies on its subsidiaries’ business activities and the resultant distributions to fund the debt service, investment and other cash needs of the holding company. The
reconciliation of the difference between the Subsidiary Distributions and Net Cash Provided by Operating Activities consists of cash generated from operating activities that is
retained at the subsidiaries for a variety of reasons which are both discretionary and non-discretionary in nature. These factors include, but are not limited to, retention of cash to
fund capital expenditures at the subsidiary, cash retention associated with non-recourse debt covenant restrictions and related debt service requirements at the subsidiaries,
retention of cash related to sufficiency of local GAAP statutory retained earnings at the subsidiaries, retention of cash for working capital needs at the subsidiaries, and other
similar timing differences between when the cash is generated at the subsidiaries and when it reaches the Parent Company and related holding companies.
Definitions