Gas Plus S.p.a. · MIL:GSP
Gas Plus — FY2021 Earnings Presentation
16 slides from Gas Plus's earnings presentation, Apr 14, 2022
Slide 1: Gas Plus Group Analyst Presentation FY 2021 Financial Results
Gas Plus Group Analyst Presentation FY 2021 Financial Results April 14th, 2022* * This document is updated on 6 months basis, occurring after 31 December and 30 June 0closing
Slide 2: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS 1
Slide 3: Market Scenario
Market Scenario TTF Gas Price – Day Ahead TTF vs VTPTTF Gas PriceGas Romania – Quarter Price*Ahead – Day Ahead Brent TTF Price– Quarter Gas Price – Month+1 Ahead TTF Gas €/$ Price – Quarter Exchange Rate -Ahead Spot (*) source: BRM 2
Slide 4: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS 3
Slide 5: Highlights
Highlights E&P Italian Activities ✓ Significantly higher margins due to the recovery in energy scenarios. The effects of this price increase were, however, largely tempered by the commodity price hedging policies put in place in the first part of 2021 after the exceptional collapse in energy scenari
Slide 6: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS E&P RETAIL NETWORK & TRANSPORTATION GROUP FINANCIAL RESULTS COMPANY PROFILE 5
Slide 7: Financial Results: E&P
Financial Results: E&P ➢ 2021 Results: ▪ Significant increase in Revenues (+6.4 M€) and EBITDA (+10.7 M€), mainly due to the recovery of energy scenarios, in particular in the FY 2021 P&L - E&P contribution second part of the year ▪ EBITDA is affected by the prudent hedging strategy applied which E&
Slide 8: E&P: Main Projects
E&P: Main Projects Longanesi Project - Italy MGD Project - Romania Longanesi Project consists of the Longanesi gas field (roughly 1.100 Msm3 reserves Gas Plus share) which were discovered in 2004 /2005 of latest , is of Pliocene age. Longanesi Project consists of 5 production wells (3 new wells and
Slide 9: Financial Results: Retail
Financial Results: Retail TTF GasP&L Price -– Retail Quarter Ahead ▪ Volumes sold in FY 2021 posted a moderate increase on the previous year FY 2021 FY 2020 due to temperatures slightly more rigid during winter-time 10% 10% ▪ The EBITDA in 2021 marked a negative 10% Residential 10% YOY performance,
Slide 10: Financial Results: Network & Transportation
Financial Results: Network & Transportation ▪ The lower temperature registered during 2021 have led to an increase in the distributed volumes of gas (+9.7%) compared to last year. ▪ Notwithstanding the additional restrictions on revenues cap from gas TTF Gas Price – Quarter Ahead Contribution distri
Slide 11: Financial Results: Group P&L
Financial Results FYGas TTF 2021 Price––Group QuarterP&L Ahead 84,8 75,5 ▪ Revenues increase mostly due to the recovery of energy scenarios 17,9 ▪ Operating costs relatively stable 10,1 ▪ Increase in EBITDA thanks to the strong contribution on margin of BU FY 2021 FY 2020 E&P Revenues EBITDA ▪ Reass
Slide 12: Financial Results: EBITDA and Net Result Evolution
Financial Results TTF Gas EBITDA Price – Quarter Breakdown by Ahead BU (M€) TTFNet Group Gas Price Result– Quarter Ahead(M€) Evolution 10.1 17.9 114,0 2,5 7,8 3,1 7,7 4,8 -1,5 -3,7 7,6 10,1 -34,2 -0,6 -79,3 -1,7 -2,4 FY 20 EBITDA D&A Financial Other Taxes FY 21 FY 20 FY 21 Charges E&P Network Retail
Slide 13: Financial Results: Group Balance Sheet
Financial Results DecemberTTF 31, 2021 Gas Price –– Quarter Group Ahead Balance Sheet ▪ Strong reduction in Working Capital Dec 31, Dec 31, due to the effect of negative value of Group (M€) ∆ (%) 2021 2020 hedging derivatives on commodities Inventories 3.4 3.2 6.2% ▪ Increase of Non Current Assets d
Slide 14: Financial Results: NFP Trend
Financial Results: NFP Trend TTFNFP Group Gas Price – Quarter Historical Ahead(M€) Trend 250,6 212,9 150,5 98,6 85,2 82,2 71,2 53,0 52,5 66 41,1 42 ▪ The NFP remains at low levels, with a decrease compared to 2020 Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15 Dec 16 Dec 17 Dec 18 Dec 19 Dec 20 Dec 21 de
Slide 15: Company Profile
Company Profile Shareholding as at 1 March 2022 Share information Share price performance 8,48% 2,98% N. of share: 44,909,620 14,60% Share price as of 31.12.2021: € 3.36 Share price as of 13.04.2022: € 3,9 Mkt cap 31.12.2021: € 150,9 million Italian Stock Exchange – Euronext Milan 73,94% Own shares
Slide 16: Disclaimer
Disclaimer This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Gas Plus. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are state