Ascopiave S.p.a. · MIL:ASC
Ascopiave — 9M 2025 Earnings Presentation
13 slides from Ascopiave's earnings presentation, Nov 6, 2025
Slide 1: 9M 2025 Consolidated Results
Ascopiave Group 9M 2025 CONSOLIDATED RESULTS Conference Call Gruppo Pieve di Soligo, 6th November 2025
Slide 2: Ascopiave Group structure as of 30th September 2025
Ascopiave Group Ascopiave Group structure as of 30th September 2025 9M 2025 CONSOLIDATED RESULTS 18.33% 100% 100% 3% (2) 100% 90% 100% 13% 100% 100% (1) 5% Renewable energies Gas Distribution Water Service Gas & Electricity sales ICT services Multi-Utility Notes: 1 AP Reti Gas North is consolidated
Slide 3: Change in the consolidation scope and participations disposals
Ascopiave Group Change in the consolidation scope and participations disposals 9M 2025 CONSOLIDATED RESULTS CHANGE IN THE CONSOLIDATION SCOPE Acquisition of AP Reti Gas North as of 1st July 2025: • first consolidation of the company's balance sheet data: 1st July 2025 • consolidation of income state
Slide 4: 9M 2025 consolidated income statement
Ascopiave Group 9M 2025 consolidated income statement 9M 2025 CONSOLIDATED RESULTS (Thousand of Euro) 9M 2025 9M 2024 Chg Chg % Revenues 183,869 146,292 37,577 +26% (Raw materials, consumables, supplies and goods) (1,634) (1,541) (93) +6% (Costs for services) (47,154) (39,062) (8,092) +21% (Costs fo
Slide 5: Consolidated balance sheet as of 30th September 2025
Ascopiave Group Consolidated balance sheet as of 30th September 2025 9M 2025 CONSOLIDATED RESULTS (Thousand of Euro) 30/09/2025 31/12/2024 Chg Chg % Tangible assets (1) 176,567 161,897 14,669 +9% Non tangible assets (1) 1,247,252 787,419 459,832 +58% Investments in associates (2) 55,812 105,472 (49,
Slide 6: Operating data – gas distribution and renewable energies
Ascopiave Group Operating data – gas distribution and renewable energies 9M 2025 CONSOLIDATED RESULTS GAS DISTRIBUTION RENEWABLE ENERGIES Number of gas distribution users Volumes of gas distributed Volumes of electricity produced (Million of standard cubic meters) (GWh) +482,736 +75.2 -24.6 +55% +8%
Slide 7: Revenues
Ascopiave Group Revenues 9M 2025 CONSOLIDATED RESULTS Revenues bridge Gas distribution tariff revenues (Thousand of Euro) (Thousand of Euro) (3) 9M 2025 9M 2024 Chg Chg % +37,577 Gas distribution tariff revenues 132,228 103,217 29,011 +28% +26% Gas distribution tariff revenues 132,228 103,217 29,011
Slide 8: EBIT & other net operating costs
Ascopiave Group EBIT & other net operating costs 9M 2025 CONSOLIDATED RESULTS EBIT bridge Other net operating costs (Thousand of Euro) (Thousand of Euro) (2) 9M 2025 9M 2024 Chg Chg % +38,124 Other revenues 33,022 20,334 12,688 +62% +112% Other costs of raw materials and services (75,288) (58,131) (
Slide 9: Personnel
Ascopiave Group Personnel 9M 2025 CONSOLIDATED RESULTS Number of employees Employees at 30/09/2025 Cost of personnel (Thousand of Euro) +226 +3,141 +46% +21% 721 79 14 2,196 2,581 (1) 229 628 1,636 495 18,194 15,053 492 495 Gas Distribution 9M 2024 Change of the Capitalized cost of Other changes 9M
Slide 10: Capex
Ascopiave Group Capex 9M 2025 CONSOLIDATED RESULTS Capex Capex at 30/09/2025 Change in the scope of (Thousand of Euro) consolidation (1): Euro 4,3 mln +9,061 On a like-for-like basis: +18% • Investments in gas distribution 60,649 41,615 systems: Euro 31.3 mln 4,288 (1) • Investments in gas meters: E
Slide 11: Net financial position and cash flow
Ascopiave Group Net financial position and cash flow 9M 2025 CONSOLIDATED RESULTS Net financial position and cash flow (Thousand of Euro) 472,170 +245,532 +63% 234,066 60,649 5,691 32,465 27,239 633,133 67,276 387,602 31/12/2024 Cash flow Capex Change in Dividends Change in Purchase of Realization o
Slide 12: Financial debt
Ascopiave Group Financial debt 9M 2025 CONSOLIDATED RESULTS Financial debt (Thousand of Euro) (1) 30/09/2025 31/12/2024 Chg Chg % Long term financial borrowings 354,974 229,824 125,150 +54% Current position of long term financial borrowings 57,896 56,688 1,208 +2% Long term bond loans 146,098 78,805
Slide 13: Disclaimer
Ascopiave Group Disclaimer 9M 2025 CONSOLIDATED RESULTS • This presentation has been prepared by Ascopiave S.p.A. for information purposes only and for use in presentations of the Group’s results and strategies. • For further details on the Ascopiave Group, reference should be made to publicly avail