Gas Plus S.p.a. · MIL:GSP
Gas Plus — H1 2023 Earnings Presentation
15 slides from Gas Plus's earnings presentation, Sep 8, 2023
Slide 1: Gas Plus Group Analyst Presentation IH 2023 Financial Results
Gas Plus Group Analyst Presentation IH 2023 Financial Results September 8th, 2023* * 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 325 325 300 300 275 275 250 250 225 225 200 200 175 175 150 150 125 125 100 100 75 75 50 50 25 25 0 0 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr
Slide 4: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS 3
Slide 5: Highlights
Highlights Remarkable first half of the year results thanks to: E&P production: ✓ stable contribution from the Romanian fields after the gas-in of June 2022 ✓ positive performance of the domestic fields (+4.5%), which more than balanced natural depletion Downstream results: ✓ return to profitability
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 IH 2023 P&L - E&P contribution ▪ EBITDA: ➢ Excellent performance of the E&P activities led to a strong growth in EBITDA due mainly to: E&P (MScme) IH23 IH22 ∆ (%) • significant increase of natural gas production (+115.3%) thanks to the Romanian activities Hydrocarbon Productio
Slide 8: Financial Results: Retail
Financial Results: Retail TTF GasP&L Price -– Retail Quarter Ahead ▪ EBITDA: the significant margin recovery (approximately +8.1 M€) in the first half IH 2023 IH 2022 of the year is the outcome of the procurement and customer sales strategy 10% 11% implemented after overcoming the 11% turbulent ener
Slide 9: Financial Results: Network
Financial Results: Network ▪ The warmer temperatures registered during IH 2023 have led to a decrease in the distributed volumes of gas (-16.1%) compared to last year. ▪ EBITDA results higher than last year (+24.2%) due to: • strong decrease of Opex, IH 2023TTFP&L Gas–Price – Quarter Network Ahead C
Slide 10: Financial Results: Group P&L
Financial Results IHGas TTF 2023 Price––Group QuarterP&L Ahead ▪ Increase in Revenues as effect of higher 90.8 gas productions (+115.3%). Decrease in 77.1 Operating costs due to the lower gas purchase costs (-18.5 M€). 41.9 9.1 ▪ Strong growth in EBITDA thanks to the positive economic performance of
Slide 11: 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 39.8 2.0 4.1 32.8 23.1 9.1 37.0 3.3 13.1 (3.3) (2.1) (3.8) (1.2) (6.9) (6.1) IH 22 EBITDA D&A Financial Other Taxes IH 23 (1.2) Charges IH 22 IH 23 E&P Network
Slide 12: Financial Results: Group Balance Sheet
Financial Results June 30, TTF2023 – Group Gas Price Balance – Quarter Ahead Sheet Jun 30, Dec 31, ▪ Non Current Assets in line with FY22 Group (M€) ∆ (%) after investments for 15.4 M€. 2023 2022 Inventories 4.4 3.4 29.4% Receivables 18.1 50.6 (64.2%) ▪ Decrease in negative amount of Working Capital
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 49.5 41.1 53.0 52.5 42.0 ▪ The NFP confirms a significant reduction Dec 10Dec 11Dec 12Dec 13Dec 14Dec 15Dec 16Dec 17Dec 18Dec 19Dec 20Dec 21Dec 22Jun 23 despite th
Slide 14: Company Profile
Company Profile Shareholding as at 30 June 2023 Share information Share price performance N. of share: 44,909,620 2,98% 13,47% Share price as of 30.06.2023: € 2,57 Share price as of 07.09.2023: € 2,73 9,61% Mkt cap 30.06.2023: € 115,4 million Italian Stock Exchange – segment MTA 73,94% Own shares as
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