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REN

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Annual

Results Unit 2021 2020 2019 2018 2017 2016
Turnover €M 565.8 563.3 565.8 567.5 561.5 545.3
EBITDA €M 460.8 470.2 486.2 492,3 487.5 476.0
EBIT €M 218.9 229.0 250.6 257.2 265.5 261.3
Net financial income €M -42.6 -46.8 -52.5 -57.8 -61.2 -80.3
Income before taxes €M 176.3 182.2 198.1 199,5 204.3 181.4
Net income €M 97.2 109.2 118.9 115.7 125.9 100.2
Recurrent net income €M 121.8 131.7 144.8 137.2 154.8 126.1

Restated as requires by IAS 19.
Debt Unit 2021 2020 2019 2018 2017 2016
Net debt M€ 2,362 2,741.9 2,286 2,653.1 2,756.2 2,477.7
Average cost of debt % 1.6% 1.8% 2.1% 2.2% 2.5% 3.2%
Average debt maturity Anos 3.3 3.4 3.6 4.3 4.1 5.1
DEBT STRUCTURE
Sources of funding M€
EIB M€ 430.9 480.8 440.3 409.4 458 497.1
Bond Issues * M€ 1,722.9 1,422.9 1,720.7 1,750.7 1,643.5 1,673.5
Commercial paper M€ 450 700 464 180 220 253
Other M€ 148.2 195.4 221.1 351.5 485.7 60
Type of rate %
Fixed % 60% 62% 58% 62% 64% 64%
Variable % 40% 38% 42% 38% 46% 36%

*Includes exchange hedging
Share Unit 2021 2020 2019 2018 2017 2016
Year-end price 2.545 2.365 2.72 2.434 2.479* 2.698
Annual return % 15.5% -6.9% 19.6% 4.8% 10.1% 3.3%
Market capitalisation M€ 1,698 1,578 1,815 1,624 1,654 1,441
Earnings per share 0.15 0.16 0.18 0.17 0.19 0.19
Dividend per share 0.154 0.171 0,171 0.171 0.171** 0.171
Payout ratio 105.8% 104.4% 96.0% 98.6% 90.6% 91.1%
Dividend yield % 6.7% 7.4% 6.3% 7.0% 6.5% 6.3%

* 2017 adjusted to the capital increase. 
** Dividend that the board of directors will propose in the general shareholders meeting.
Other Indicators Unit 2021 2020 2019 2018 2017 2016
Average RAB €M 3602.8 3635 3,753.3 3,832.0 3,924.7 3,537.1
CAPEX €M 247.1 173.3 188.6 121.9 155.6 171.5
Net debt /EBITDA x 5.1x 5.8 5.7x 5.4x 5.3x 5.2x
No. of employees (1) # 701 697 684 691 693 608
Electricity (2) # 211 210 210 215 214 229
Gas (3) # 139 137 131 129 128 129
Portgás # 69 69 68 72 88
Other Business Unit (4) # 282 281 275 275 261 250

(1) Payroll + Fixed-term employees + trainees
(2) Electricity Grid
(3) REN Gasodutos + REN Armazenagem + REN Atlântico
(4) Concession support + Support functions + REN Trading + Enondas + Other

Quarterly

Results Un. 9M22 1H22 1Q22 2021 9M21 1H21 1Q21 2020 9M20 1H20 1Q20 2019 9M19 1H19 1q19 2018 9M18 1H18 1Q18 2017 9M17 1H17 1Q17 2016 9M16 1H16 1Q16
EBITDA €M 360.9 238.4 118.4 460,8 343,4 227.9 114.4 470,2 352,5 237 118.9 486.2 368,0 247.4 125.3 492,3 378,4 252.4 128.4 487,5 364,4 242.7 123.7 476,0 357,2 240.2 121.1
EBIT €M 174.3 114.1 56.3 218,9 162,9 107.6 54.3 229,0 172,6 117.3 59.9 250.6 192,2 103.2 66.8 257,2 202,2 134.8 69.7 265,5 201,6 134.1 69.3 261,3 196,6 133.2 44.1
Net financial income €M -25.8 -15.1 -9.4 -42,6 -31,1 -18 -10.8 -46,8 -36,7 -21.4 -13.6 -52,5 -39,4 -26.9 -15.5 -57,8 -43,5 -27.3 -16.6 -61,2 -44,5 -27.5 -15.8 -80,3 -63,4 -41.7 -23.6
Income before taxes €M 148.5 99.1 46.8 176,3 131,7 89.6 43.5 182,2 136,0 95.9 45.4 198,1 152,8 103.3 51.3 199,5 158,7 134.8 53.1 204,3 157,1 106.6 53.8 181,4 133,3 91.6 44.1
Net income €M 81.4 45.9 6 97,2 68,4 39.5 4.5 109,2 76,1 46.1 4.3 118,9 86,3 51.1 13.2 115,7 90,9 52.8 13.1 125,9 88,9 53 13.5 100,2 70,5 40.5 6.1
Recurrent net income €M 107 71.6 34 121,8 93,0 64.3 31.6 131,7 98,6 69.6 32.5 144,8 110,7 75.5 37.6 137,2 112,5 78.4 38.4 154,8 116,9 80.9 39.3 126,1 96,4 66.5 32
Debt Un. 9M22 1H22 1Q22 2021 9M21 1H21 1Q21 2020 9M20 1H20 1Q20 2019 9M19 1H19 1q19 2018 9M18 1H18 1Q18 2017 9M17 1H17 1Q17 2016 9M16 1H16 1Q16
Net debt €M 1.941.5 2,099.4 2,098.7 2,362 2,378.2 2,539.9 2,547.9 2,741.9 2,743 2,839.9 2,750.3 2,826 2,586.5 2,638.7 2,613.9 2,653.1 2,643.8 2,686.7 2,643.7 2,756.2 2,540.6 2,577.4 2,543.5 2,477.7 2,484.9 2,526.5 2,473.2
Average cost of debt % 1.7% 1.7% 1.6% 1.6% 1.6% 1.6% 1.6% 1.8% 1.9% 1.9% 1.8% 2.1% 2.2% 2.2% 2.3% 2.2% 2.3% 2.3% 2.3% 2.5% 2.6% 2.6% 2.6% 3.2% 3.4% 3.5% 3.7%
Average debt maturity Years 3.2 3.0 3.2 3.3 3.5 3.7 3.2 3.4 3.7 3.8 3.5 3.6 3.7 4.0 4.2 4.3 4.6 4.8 5.0 4.1 4.4 4.5 4.7 5.1 4.7 4.7 3.9
DEBT STRUCTURE
Sources of funding
EIB €M 390 415.7 430.9 430.9 440.1 465.9 480.1 480.8 489.8 515.6 439.6 440.3 369.1 394.9 408.6 409.4 418 443.7 457.3 458 458.7 497.1 497.1 497.1 524.6 559.6 573.5
Bond issues* €M 1,722.9 1,722.9 1,722.9 1,722.9 1,722.9 1,722.9 1,422.9 1,442.9 1,690.7 1,690.7 1,690.7 1,720.7 1,720.7 1,720.7 1,720.7 1,750.7 1,750.7 1,750.7 1,750.7 1,643.5 1,643.5 1,643.5 1,643.5 1,673.5 1,473.5 1,773.5 1,492.9
Commercial paper €M 250 460 450 450 500 500 680 700 375 459 441.5 464 468 356.5 312 180 150 150 150 220 375.2 388 388 253 510.5 232.5 427
Other €M 49.1 49.2 49.4 148.2 167.4 167.8 195.1 195.4 199.7 192.9 218.8 221.1 190.3 200.3 201.1 351.5 350.9 400.7 398.3 485.7 47.5 47.8 47.8 63.2 47.3 47.5 47.8
Type of rate:
Fixed % 70% 72% 70% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 50% 60% 60% 60% 60% 50% 60% 50%
Variable % 30% 28% 30% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 50% 40% 40% 40% 40% 50% 40% 50%

*Includes exchange hedging
Share Un. 9M22 1H22 1Q22 2021 1H21 9M21 1Q21 2020 9M20 1H20 1Q20 2019 9M19 1H19 1Q19 2018 9M18 1H18 1Q18 2017 9M17 1H17 1Q17 2016 9M16 1H16 1Q16
Year-end price 2.415 2.875 2.545 2.545 2.550 2.340 2.380 2.365 2.370 2.430 2.320 2.720 2.560 2.410 2.542 2.434 2.430 2.400 2.508 2.479* 2.754 2.741 2.821 2.698 2.603 2.533 2.882

* 2017 adjusted to the capital increase.
Other Indicators Un. 9M22 1H22 1Q22 2021 9M21 1H21 1Q21 2020 9M20 1H20 1Q20 2019 9M19 1H19 1q19 2018 9M18 1H18 1Q18 2017 9M17 1H17 1Q17 2016 9M16 1H16 1Q16
Average RAB M€ 3,602.6 3,660.1 3,602.8 3,518.5 3,515.2 3,541.2 3,635 3,652.9 3,681.4 3,714.2 3,753.3 3,717.8 3,738.2 3,743 3,832 3,835.2 3,855.2 3,877.8 3,924.7 3,462.5 3,470.3 3,495.3 3,537.1 3,502 3,522.8 3,542.1
CAPEX M€ 78.8 27.3 247.1 141.7 79.3 31.8 173.3 103,7 60,6 27 188,6 110,3 49,9 16,8 121,9 67,2 39,4 13,9 155,6 80,3 41,0 13,2 171,5 73,4 37,6 11,3
Net debt /EBITDA x 4.4x 4.4x 5.1x 5.2x 5.6x 5.6x 5.8x 5.7x 5.9x 5.8x 5.7x 5.3x 5.3x 5.2x 5.4x 5.3x 5.3x 5.1x 5.3x 5.2x 5.3x 5.1x 5.2x 5.2x 5.3x 5.1x
No. of employees (1) # 709 703 701 703 701 701 697 701 695 692 684 685 690 690 691 696 688 695 693 609 610 608 608 619 618 621
Electricity (2) # 209 209 211 210 210 210 210 209 213 211 210 210 212 210 215 216 215 215 214 219 220 221 230 234 229 229
Gas (3) # 129 131 139 138 138 138 137 137 137 136 131 130 130 130 129 129 125 127 128 130 130 125 129 131 130 132
Portgás # 63 62 69 69 68 68 69 69 66 67 68 68 68 71 72 86 83 83 90
Other Business Unit (4) # 308 301 282 286 285 285 281 286 279 278 275 277 280 279 275 265 265 264 261 260 260 262 249 254 259 260

(1) Payroll + Fixed-term employees + trainees
(2) Electricity Grid
(3) REN Gasodutos + REN Armazenagem + REN Atlântico
(4) Concession support + Support functions + REN Trading + Enondas + Other

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