Acea S.p.a. · MIL:ACE
Acea — Q1 2018 Earnings Presentation
13 slides from Acea's earnings presentation, May 10, 2018
Slide 1: Q1 2018 Results
Q1 2018 Results Rome, 10 May 2018
Slide 2: Q1 2018 financial highlights
Q1 2018 financial highlights ACEA Group (€m) Q1 2018 Q1 2017 % change (a) (b) (a/b) Consolidated revenue 745.5 725.6 +2.7% EBITDA 229.2 214.4 +6.9% EBITDA guidance 2018: +3%/+5% on 2017 (€840m) EBIT 127.4 117.2 +8.7% Group net profit/(loss) 77.4 65.7 +17.8% Capex guidance 2018: Capex 133.0 126.4 +5.
Slide 3: EBITDA
EBITDA ACEA Group 1% 1% EBITDA from 24% Water 6% non-regulated Energy Infrastructure 10% businesses Commercial and Trading Q1 2018 EBITDA 41% Environment Overseas EBITDA from Engineering and Services 41% regulated 76% businesses EBITDA (€m) Average Group workforce 11.0 0.3 229.2 214.4 7.9 Q1 2018 Q1
Slide 4: EBITDA and Key quantitative data Water
EBITDA and Key quantitative data ACEA Group Q1 2018 financial highlights EBITDA GROWTH Water Acea ATO2: +€3.8m EBITDA main drivers Companies consolidated using equity method +€3.0m (€m) Q1 2018 Q1 2017 % change Key quantitative data Q1 2018 Q1 2017 (a) (b) (a/b) EBITDA 96.4 88.5 +8.9% of which: Prof
Slide 5: EBITDA and Key quantitative data Energy Infrastructure
EBITDA and Key quantitative data ACEA Group Q1 2018 financial highlights EBITDA GROWTH Energy Distribution +€ 9.0m Infrastructure Generation +€1.2m – increased hydroelectric and thermoelectric production (completion of Tor di Valle plant) EBITDA main drivers Public Lighting: LED plan launched in Jun
Slide 6: EBITDA and Key quantitative data Commercial and Trading
EBITDA and Key quantitative data ACEA Group Q1 2018 financial highlights Commercial and Trading EBITDA STABLE EBITDA main drivers (€m) Q1 2018 Q1 2017 % change Key quantitative data Q1 2018 Q1 2017 (a) (b) (a/b) EBITDA 23.4 23.1 +1.3% Total electricity sold (GWh) 1,593 1,813 Enhanced Protection Mark
Slide 7: EBITDA and Key quantitative data Environment
EBITDA and Key quantitative data ACEA Group Q1 2018 financial highlights EBITDA STABLE Environment Iseco: +€0.3m EBITDA main drivers Aquaser (sludge recovery operations): -€0.7m (€m) Q1 2018 Q1 2017 % change Key quantitative data Q1 2018 Q1 2017 (a) (b) (a/b) Treatment and disposal* EBITDA 14.1 14.6
Slide 8: EBITDA and Key quantitative data
EBITDA and Key quantitative data ACEA Group Q1 2018 financial highlights Engineering and Overseas Services Q1 2018 Q1 2017 Q1 2018 Q1 2017 (€m) (€m) (a) (b) (a) (b) EBITDA 3.0 3.3 EBITDA 2.2 4.0 Capex 0.8 0.9 Capex 0.3 0.2 Q1 2018 Q1 2017 Change Q1 2018 Q1 2017 Change (a) (b) (a-b) (a) (b) (a-b) Ave
Slide 9: EBIT and Net Profit
EBIT and Net Profit ACEA Group EBIT (€m) NET PROFIT (€m) 117.2 127.4 Net results up in line 77.4 with EBITDA, after 65.7 related taxation Q1 2017 Q1 2018 Q1 2017 Q1 2018 TAX RATE 30.4% 30.4% (€m) Q1 2018 Q1 2017 % change Increased depreciation, partly due to increased Depreciation 77.5 68.8 +12.6% i
Slide 10: Cash flow
Cash flow ACEA Group Q1 Q1 ( (€m) 2018 2017 EBITDA 229 214 Change in working capital (101) (153) CAPEX (133) (126) FREE CASH FLOW (5) (65) Net finance income/(costs) (20) (19) Change in provisions (26) (17) Income tax expense 0 0 Dividends 0 0 Other (9) (7) TOTAL CASH FLOW (60) (108) Q1 2018 Change
Slide 11: Net Debt
ACEA Group Net Debt 31 March 2018 31 Dec 2017 31 March 2017 Change Change (€m) (a) (b) (c) (a-b) (a-c) NET DEBT 2,482.1 2,421.5 2,234.8 60.6 247.3 Medium/Long-term 3,540.2 2,706.6 2,726.8 833.6 813.4 Short-term (1,058.1) (285.1) (492.0) (773.0) (566.1) February 2018 – successful placing of Euro 1 bi
Slide 12: Q&A session
ACEA Group Acea Group Q1 2018 Results Rome, 10 May 2018 Q&A session Q1 2018 Results 12
Slide 13: Disclaimer
ACEA Group Disclaimer THIS PRESENTATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS THAT REFLECT THE COMPANY’S MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND FINANCIAL AND OPERATIONAL PERFORMANCE OF THE COMPANY AND ITS SUBSIDIARIES. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON ACEA S.