Ellaktor Sa · ATHEX:ELLAKTOR
Ellaktor Sa — H1 2019 Earnings Presentation
12 slides from Ellaktor Sa's earnings presentation, Sep 17, 2019
Slide 1: 6M2019 Group Results
gf Bos 6M2019 Group Results
Slide 2: Business update by segment
Business update by segment +/- % vs 6M18 • Restructuring of AKTOR continues – new organizational charts throughout the Company, and Revenues EBITDA restructuring of all departments (tendering, contract administration, technical etc) €m €m • Management committed to strategy of pursuing projects with
Slide 3: Corporate Governance upgraded
Corporate Governance upgraded FURTHER IMPROVEMENT OF ISS SCORE – FROM 6 TO 5 Terms of Reference approved by the BoD Nomination & Creation of the Remuneration Policy (regarding BoD members; was approved by the Remuneration 2019 AGM) Committee (NRC) Creation of the Diversity Policy underway Cr
Slide 4: 6M2019 P&L Highlights
6M2019 P&L Highlights Revenues (in €m) EBITDA (in €m) 922,3 705,1 112,2 82,4 1H18 1H19 1H18 1H19 EBIT (in €m) Profit / (Loss) Before Tax (in €m) 29,4 61,6 32,4 (11,7) 1H18 1H19 1H18 1H19 3
Slide 5: Consolidated P&L
Consolidated P&L €m 6M18 6M19 Δ (%) • Revenues dropped by 23.5% to €705.1m, mostly as a result Revenues 922.3 705.1 (23.5%) of decreased revenues in Construction (€509.4m vs €727.3m EBITDA 82.4 112.2 36.1% in H1 2018) Margin (%) 8.9% 15.9% • EBITDA amounted to €112.2m (vs €82.4m in H1 2018), mostly
Slide 6: Consolidated balance sheet as at 30/06/2019
Consolidated balance sheet as at 30/06/2019 €m 31/12/2018 30/6/2019 Δ (%) • Intangible assets include the Concession Right from Intangible assets 573.0 558.2 (2.6%) Attiki Odos and Moreas and the decrease is due to Property, plant and equipment 526.3 600.5 14.1% the depreciation of the Right 1 Finan
Slide 7: Consolidated cash flows
Consolidated cash flows €m 30/06/2018 30/06/2019 Δ (%) • Operating cashflows dropped to (€64.4m) vs €9.4m in CFs from Operating Activities 9.4 (64.4) n.m. 6M2018 CFs from Investment Activities (24.6) (26.9) 9.3% • Investment cash outflows amounted to (€26.9m) vs (€24.6m) in 6M2018, and include capex
Slide 8: Net debt by sector as at 30/06/2019
Net debt by sector as at 30/06/2019 Total Total BOT Concessions Real Attiki Total Construction Environment Renewables Other Corporate Moreas Non- Recourse Estate Odos Group 30/06/2019 (€m) (ex. BOT) Recourse Short-term debt 103.6 20.8 8.8 19.1 13.7 24.8 190.8 25.8 14.2 40.0 230.8 Long-term debt 2.8
Slide 9: Segmental analysis of 6M2019 vs 6M2018 results (€m)
Segmental analysis of 6M2019 vs 6M2018 results (€m) Group Construction Concessions Environment Renewables Real Estate Other Revenues 705 / 922 509 / 728 118 / 119 41 / 44 33 / 29 3/3 0/0 6M2019 / (24%) (30%) (1%) (5%) +13% (4%) +1% 6M2018 EBITDA 112 / 82 2 / (24) 81 / 67 7 / 19 27 / 22 1/1 (5) / (3)
Slide 10: Moving Forward
Moving Forward • Continue reforming Construction • Driving operational improvement across all AKTOR’s geographies • Replenish targeted backlog with focus on cash flow and profitability • Further consolidate market leadership in Concessions, particularly motorways and toll operations • Pursue signifi
Slide 11: Disclaimer
Disclaimer This presentation has been prepared by ELLAKTOR S.A. (the“Company”). The information contained in this presentation has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, comple
Slide 12: Contact details
Contact details Emmanouil Christeas Group CFO e-mail: [email protected] Investor Relations Department e-mail: [email protected] ELLAKTOR S.A. 25, Ermou St., GR 145 64 Nea Kifissia, Greece Athens TEL.: +30 210 8185000 FAX : +30 210 8185001 e-mail: [email protected] website: www.ellaktor.com 11