Gas Plus S.p.a. · MIL:GSP
Gas Plus — H1 2024 Earnings Presentation
15 slides from Gas Plus's earnings presentation, Sep 11, 2024
Slide 1: Gas Plus Group Analyst Presentation IH 2024 Financial Results
Gas Plus Group Analyst Presentation IH 2024 Financial Results September 11th, 2024* * This document is updated on 6 months basis, occurring after 31 December and 30 June closing 0
Slide 2: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS 1
Slide 3: Market Scenario
Market Scenario TTF Gas Price – Day Ahead 75,00 70,00 65,00 60,00 55,00 50,00 45,00 40,00 35,00 30,00 25,00 20,00 Jan Feb Mar Apr May Jun €/MW h - IH 2023 €/MW h - IH 2024 Brent Price – Month €/$ Exchange Rate - Spot 95 1,12 1,11 90 1,10 1,09 85 1,08 80 1,07 1,06 75 1,05 1,04 70 Jan Feb Mar Apr May
Slide 4: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS 3
Slide 5: Highlights
Highlights Considering the IH 2024 market scenarios, satisfactory economic results vs IH 2023 adjusted excluding the benefit of the tax relief for the 2022 Romanian Solidarity Contribution amount (21.6 €M), due to: ❑ E&P gas prices and production negative trend, as per breakdown below ✓ Lower market
Slide 6: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS E&P RETAIL NETWORK GROUP FINANCIAL RESULTS COMPANY PROFILE 5
Slide 7: Financial Results: E&P
Financial Results: E&P ▪ EBITDA IH 2024 P&L - E&P contribution ➢ IH 2024 EBITDA - 53.5% vs IH 2023, mainly due to: • On average lower E&P gas prices in Italy and Romania vs IH 2023 (-38%) E&P (MScme) IH24 IH23 ∆ (%) • Decrease in gas net production volumes from E&P Italy vs IH 2023 (-13%) mainly due
Slide 8: Financial Results: Retail
Financial Results: Retail TTF GasP&L Price -– Retail Quarter Ahead IH 2024 IH 2023 8% 10% ▪ EBITDA recovery in IH 2024 vs IH 2023 12% (+1.2 M€) is mainly the outcome of Residential 12% the supply and sales strategy Sales: Sales: implemented after overcoming the Small Business 27.1 MScm 29.8 MScm tur
Slide 9: Financial Results: Network
Financial Results: Network ▪ The increase in gas consumption of industrial customers during IH 2024 vs IH 2023 led to an increase in the distributed gas volumes vs IH 2023 (+3.8%) ▪ EBITDA results higher vs IH 2023 (+17.1%) due to: ➢ Improvement in revenues constraint IH 2024TTFP&L Gas–Price – Quart
Slide 10: Financial Results: Group P&L
Financial Results IHGas TTF 2024 Price––Group QuarterP&L Ahead 90.8 ▪ Decrease in Revenues (-27.6%) as effect of lower gas prices. Decrease in 65.7 Operating costs due to the lower gas 41.9 purchase costs and lower taxes on 23.9 gas production (royalty and windfall tax) ▪ Positive economic performan
Slide 11: 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 41.9 23.9 39.8 2.0 4.1 1.0 0.3 5.3 3.2 37.0 4.8 (0.3) 17.2 (18.0) (17.5) (1.3) (1.2) IH 23 EBITDA D&A Financial Other Taxes IH 24 Charges IH 23 IH 24 E&P Network Ret
Slide 12: Financial Results: Group Balance Sheet
Financial Results June 30, TTF2024 – Group Gas Price Balance – Quarter Ahead Sheet ▪ Non Current Assets down after 10.7 Jun 30, Dec 31, M€ in amortization and depreciation Group (M€) ∆ (%) 2024 2023 and 6.3 M€ in investments Inventories 3.9 4.1 (4.9%) Receivables 23.5 31.2 (24.7%) ▪ Negative amount
Slide 13: 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 71.2 66.0 85.2 82.2 49.0 50.5 ▪ The NFP confirms significant reduction 41.1 53.0 52.5 42.0 30.1 despite investments and reached the lowest level since 2010, despite also including the effe
Slide 14: Company Profile
Company Profile Shareholding as at 30 June 2024 Share information Share price performance N. of share: 44,909,620 2,65 36.000 2,60 35.000 20.94% Share price as of 28/06/2024: € 2.52 2,55 Gas Plus Pricing FTSE Mib Index 34.000 2.98% 2,50 Share price as of 10/09/2024: € 2.42 33.000 2,45 32.000 Mkt cap
Slide 15: 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