ANNUAL RESULTS PRESENTATION 25 March, 2015 Hong Kong
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ANNUAL RESULTS PRESENTATION
25 March, 2015
Hong Kong
Content
I Financial Highlights
II Business Performance
III Trend and Objectives
IV Outlook and Perspectives
Financial Highlights
• Increased 4.93%YoY Total Assets (RMB billion)
• Increased 12.3%YoY Net Assets
(RMB billion)
• Decreased 6.3%YoY Operating Revenue
(RMB billion)
• Increased 3.18%YoY Net Profit
(RMB billion)
• Increased 2.7%YoY Earnings per Share
(RMB billion)
2014 operating results prepared under IFRS
275.172
70.129
125.407
10.757
0.76
Business Performance
2,570
3,136 3,024
3175 2,944
0
500
1,000
1,500
2,000
2,500
3,000
3,500
2010 2011 2012 2013 2014
In 2014, total domestic power
generation of the Company was
294.4 billion kWh, decreasing by
7% yoy.
Average utilization hours of thermal
units was 4618.
Average tariffs settled for 2014 was
RMB 454.95MWh, increased 0.13%
over the same period last year.
Domestic Power Generation 5,564 5,552
5,114 5089 4,618
2,000
3,000
4,000
5,000
6,000
2010 2011 2012 2013 2014
HPI National
Avg. utilization hours of thermal units
421.66
430.10
454.19 454.38
454.95
400.00
420.00
440.00
460.00
2010 2011 2012 2013 2014
Average tariffs(RMB/MWh)
(‘00 million kWh)
In 2014, the company totally purchased 121 million tons natural coal.
The unit fuel cost of power sold of the year for domestic power plants was RMB 201.19/MWh, decreased 7.96% yoy.
Business mode transformation
Structural adjustment
◆International and domestic marketized procurement
◆Reinforced the cooperation with major coal mines
Business Performance (continued)
Fuel supply and Costs
Leading Technical & Energy Consumption Indicators
Business Performance (continued)
Average equivalent availability ratio Average house consumption rate
Average coal consumption for generation
Average coal consumption for power sold
94.53%
95.21%
2013 2014
5.28%
4.60%
2013 2014
293.47
292.19
2013 2014
310.94
309.42
2013 2014
Projects Commissioned in 2014
Project Capacity(MW)
Coal fired
Tembusu Multi-Utilities Complex Phase II Project A
32.5
Zhejiang Changxing 1320
Gas fired
Zhejiang Tongxiang Combined Cycle 458.4
Tianjin Lingang Co-generation 463
Chongqing Liangjiang Combined Cycle 934
Wind
Liaoning Changtu Wind Power Phase II 48
Yunnan Wenbishan Wind Power 40
Jiangxi Huaneng Jianggongling Wind Power 48
Hunan Subaoding Wind Power 80
Gansu Jiuquan Wind Power Phase II 200
Photovoltaic Zhejiang Si’an PV 5
Total 3628.9
Business Performance (continued)
Increase total operational installed capacity of 7,087.5 MW and 2,300 MW of capacity under construction.
Acquisition
The Company acquired the assets and interests of ten target power companies from Huaneng Group and Huaneng International Power Development Corporation
91.8% Hainan Power
75% Wuhan Power
53.45% Suzhou Thermal Power
60% Chaohu Power
100% Ruijin Power
100% Anyuan Power
97% Dalongtan Hydropower
100% Hualiangting Hydropower
100% Yingcheng Thermal Power
100% Jingmen Thermal Power
Business Performance (continued)
The total number of issued shares of the company increased to 14,420,383,440 shares. The total number of H Shares increased to 3,920,383,440 shares.
Huaneng group holds 50.01% direct and indirect interests of the company
365,000,000 Number of new H shares
HK$8.6 Placing price
HK$3139 million Aggregate raising funds
Issued Shares of the Company
Business Performance (continued)
Shares placement
On November 13, the company issued H shares to nine placees.
H Shares 27.19%
A Shares 72.81%
Generation Capacity
To date, the controlling
generation capacity was
78,693MW, and the equity-
based generation capacity
was 70,736MW.
The Company has plants in
21 provinces, municipalities
and autonomous regions of
China, and a wholly-owned
power company in Singapore.
Coal fired
Gas fired
Wind
Oil fired
Hydro 87.97%
9.05%
1000MW
600MW
300MW
16.04%
37.07%
40.7%
Business Performance (continued)
Generation Structure
Class of Units
Our cash dividend payout ratio will not be less than 50% of
the distributable profit realized in the then year’s consolidated
financial statement.
Dividends Payout
0% 10% 20% 30% 40% 50% 60% 70% 80%
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
Pay-out Ratio
Notes： Calculated under IFRS (DPS/EPS), the company paid dividends per
share of RMB0.10 in spite of the losses in 2008.
Business Performance (continued)
Generation
Objectives
for 2015 4460 hours
Main Tasks
Improve profitability, competitiveness and
sustainability
Domestic generation
Strengthen the awareness of market-orientation,
reform, innovation and risk management
Elevate management level and focus on quality
and efficiency
Utilization hours of domestic units
345 billion kWh
Trend and Objectives (Continued)
First class listed
company with excellence in governance & market value
Edge in tech
good in manage-
ment
Advantage in layout
Optimized structure
Synergism effect
Remarkable in
efficiency
The controlled capacity will exceed 80GW by 2015.
Outlook and Perspectives
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