15 May 2015

REN updated strategy for 2015-2018 triennium

REN updated its strategic plan for the period 2015-2018, which is based on three fundamental pillars: maintaining the priority commitment to national operation; explore international opportunities and consolidate the financial results.

The national operation remains the priority of REN, expected to an investment level (CAPEX) required to ensure the needs of national systems of electricity and natural gas in compliance with the obligations of the respective concessions, which will maintain the current Regulated Asset Base (RAB). Maintaining the high quality of service and the company's efficiency levels also remain among the priorities of management, together with the commitment of innovation.

Outside Portugal, REN want to run the first international investment, thus diversifying the business portfolio. Latin America and Africa markets remain among the priorities in which selectively opportunities will be evaluated. In Europe, interconnection projects are also identified as potential investment opportunities.

In terms of financial results, the objectives are to achieve an annual rate of return of capital (CAGR) over the net income of about 10% over the next three years to ensure a debt rating to investment level and maintain the annual dividend in current levels.

In the Investor Day meeting, held Friday May 15, Rodrigo Costa, Chairman and CEO of REN, stressed the priority to 'maintain a strong focus on our home market, essential to maintain the quality of service and safety supply which we are recognized. We want to do it in a sustainable development framework and a clear commitment to research and innovation. It is also our intention to realize the internationalization strategy started in the last strategic plan, thus diversifying our sources of revenue, creating value for our shareholders and opportunities for professionals who, over the last 20 years, have made this company a success in network operators sector energy transport internationally.'


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