Gas Plus S.p.a. · MIL:GSP
Gas Plus — H1 2022 Earnings Presentation
15 slides from Gas Plus's earnings presentation, Sep 8, 2022
Slide 1: Gas Plus Group Analyst Presentation IH 2022 Financial Results
Gas Plus Group Analyst Presentation IH 2022 Financial Results September 8th, 2022* * 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 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 1,25 1,20 1,15 1,10 1,05 1,00 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun €/$ -
Slide 4: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS 3
Slide 5: Highlights
Highlights The first half of the year 2022 ended with a negative result deriving exclusively from the extra-profit tax (i.e. “contributo straordinario contro il caro bollette”) which impacted the income statement by more than 8 M€. Notwithstanding the effects of this component, in the extraordinary
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 IH 2022 P&L - E&P contribution ▪ EBITDA: E&P (MScme) IH22 IH21 ∆ (%) ― Unprecedented increase in energy prices ― Production volumes hedged at the beginning of last year before the price increase Hydrocarbon Production 64.2 67.2 (4.4%) ― Increased production thanks to Romania's
Slide 8: Financial Results: Retail
Financial Results: Retail TTF GasP&L Price -– Retail Quarter Ahead ▪ The first semester of 2022 has been characterized by the exponential and IH 2022 IH 2021 constant increase of gas prices ▪ This scenario negatively effected EBITDA 11% 9% due to the continuous sharp deterioration 11% 11% of unitary
Slide 9: Financial Results: Network & Transportation
Financial Results: Network & Transportation ▪ The warmer temperature registered during IH 2022 have led to a decrease in the distributes volumes of gas (-2,5%) compared to last year. ▪ EBITDA results lower than last year (- 19.5%). The main causes of the decrease TTF Gas Price IH 2022 P&L – Network
Slide 10: Financial Results: Group P&L
Financial Results IHGas TTF 2022 Price––Group QuarterP&L Ahead ▪ Strong growth in Revenues and Operating costs thanks to exceptionally high prices. Revenues are affected by 77,1 the negative effect of hedging derivatives (-21,5 M€), while operating 41,0 costs discount the higher gas purchase 9,1 10,
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 10.1 9.1 3,4 3,3 2,1 4,1 13,1 -0,3 -1,0 -0,1 -0,1 5,1 -1,2 -6,9 -6,1 -8,8 -1,2 IH 21 EBITDA D&A Financial Other Taxes IH 22 IH 21 IH 22 Charges E&P Network Retail Ot
Slide 12: Financial Results: Group Balance Sheet
Financial Results June 30, ▪ Increase in Non Current Asset Net after TTF2022 – Group Gas Price Balance – Quarter Ahead Sheet investments for € 19,8 M ▪ Strong reduction in Working Capital due to the negative value of hedging Jun 30, Dec 31, derivatives on commodities and the Group (M€) ∆ (%) increas
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 85,2 82,2 97,0 71,2 53,0 52,5 66,0 41,1 42,0 Dec 10Dec 11Dec 12Dec 13Dec 14Dec 15Dec 16Dec 17Dec 18Dec 19Dec 20Dec 21 Jun 22 ▪ The NFP grows due to investments (€ 19,8 M) and temporary neg
Slide 14: Company Profile
Company Profile Shareholding as at 30 June 2022 Share information Share price performance 11,15% N. of share: 44,909,620 2,98% Share price as of 30.06.2022: € 3.37 11,93% Share price as of 07.09.2022: € 3.50 Mkt cap 30.06.2022: € 151.3 million Italian Stock Exchange – segment MTA 73,94% Own shares a
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