Acea S.p.a. · MIL:ACE
Acea — 9M 2020 Earnings Presentation
16 slides from Acea's earnings presentation, Nov 10, 2020
Slide 1: Acea Group 9M 2020 Results
ACEA Group Acea Group 9M 2020 Results Rome, 10 November 2020
Slide 2: Executive summary
ACEA Group Executive summary Operational resilience and financial strength STRONG PERFORMANCE DESPITE THE CHALLENGING SOCIAL AND ECONOMIC BACKDROP CAUSED BY THE ONGOING HEALTH EMERGENCY INCREASED INVESTMENT IN REGULATED INFRASTRUCTURE EBITDA of €859m +12% versus 9M 2019 EBIT of €426m +6% versus
Slide 3: Executive summary
ACEA Group Executive summary Operational resilience and financial strength REGULATED BUSINESSES PROVE HIGHLY RESILIENT LIMITED IMPACT ALSO ON ACTIVITIES MOST EXPOSED TO THE CRISIS 9M 2020 • EBITDA: growth beats expectations, despite the ongoing health emergency. EBITDA from regulated businesses 83%
Slide 4: 9M 2020 financial highlights
ACEA Group 9M 2020 financial highlights HIGHLY RESILIENT REGULATED BUSINESSES (€m) 9M 2020 9M 2019 % change (Water, Electricity Distribution) (a) (b) (a/b) TIMELY RECOVERY OF NON-REGULATED Consolidated revenue 2,472 2,346 +5% ACTIVITIES MOST EXPOSED TO THE CRISIS EBITDA 859 769 +12% CONSOLIDAT
Slide 5: Executive summary: Covid-19 emergency, a new way of working
ACEA Group Executive summary “Covid-19 emergency”: a new way of working The Covid-19 Training Workplaces Agile working epidemic has accelerated the adoption of new ways of working Adoption of remote training Workplaces suited to the new Agile ways of working using virtual programmes for personnel or
Slide 6: EBITDA
EBITDA ACEA Group Contribution to EBITDA of consolidation of AdF, EBITDA 9M 2020 Consorzio Agua Azul and new acquisitions (€m) 9M 2020 9M 2019 Water 52% AdF 44.7 ^^3.6 Energy Infrastructure 35% Consorcio Agua Azul Lima 7.3 ^^0.9 Commercial & Trading 6% Pescara Distribuzione Gas 1.6 1.2 Environment 4
Slide 7: EBITDA and operational results: Water
EBITDA and operational results ACEA Group 9M 2020 financial highlights Water Including gas distribution (€m) 9M 2020 9M 2019 % change EBITDA GROWTH (a) (b) (a/b) Application of Tariff Regime for third EBITDA 458.6 370.7 +23.7% regulatory period 2020-2023 (Arera Acea ATO2 304.0 270.5 +12.4% Resolut
Slide 8: EBITDA and operational results: Energy Infrastructure
EBITDA and operational results ACEA Group 9M 2020 financial highlights Energy Infrastructure KEY HIGHLIGHTS Acquisition of new photovoltaic plants: (€m) 9M 2020 9M 2019 % change raising total capacity to 52 MWp (a) (b) (a/b) EBITDA 305.9 290.6 +5.3% EBITDA GROWTH - Distribution 271.2 255.5 +6.1% -
Slide 9: EBITDA and operational results: Commercial & Trading
EBITDA and operational results ACEA Group 9M 2020 financial highlights Commercial & Trading KEY HIGHLIGHTS Increased customer base on free market Ability to restore margins despite the Covid-19 emergency (€m) 9M 2020 9M 2019 % change (a) (b) (a/b) EBITDA Increased margin on free market: greate
Slide 10: EBITDA and operational results: Environment
EBITDA and operational results ACEA Group 9M 2020 financial highlights Environment EBITDA (€m) 9M 2020 9M 2019 % change EBITDA Change in scope of consolidation: (a) (b) (a/b) main Acquisition of Demap (July 2019): +€2.0m EBITDA 39.5 40.6 -2.7% drivers Acquisition of Berg (October 2019): +€1.5m
Slide 11: EBIT and net profit
EBIT and net profit ACEA Group EBIT (€m) NET PROFIT (€m) • CIP6 feed-in tariffs (Environment segment) ended from 1 August 2019: ~€13m • Recognition of non-recurring 426.0 income following cancellation of 402.5 antitrust fine: €16.2m 218.9 218.7 9M 2019 9M 2020 9M 2019 9M 2020 TAX RATE 30.0% 30.5% (€
Slide 12: Capex
Capex ACEA Group Continuing to invest on regulated activities Investment in regulated 86% businesses Investment in non- 14% regulated businesses Capex: +18.2% 26.3 1.1 625.3 84.9 529.0 (4.8) (11.2) 9M 2019 Water Energy Infrastructure Commercial & Trading Environment Other businesses* & 9M 2020 Corpo
Slide 13: Cash flow
Cash flow ACEA Group Ongoing focus on working capital improvement 9M 2020 9M 2019 EBITDA 859 769 Change in working capital (211) (118) Increased cash outflow due to change in working Capex (625) (529) capital was influenced by regulatory effects and FREE CASH FLOW 22 122 impact of Covid-19 emergency
Slide 14: Net debt
Net debt ACEA Group 30 Sept 2020 31 Dec 2019 30 Sept 2019 Change Change 29 January 2020 - Issue of bonds worth (€m) (a) (b) (c) (a-b) (a-c) €500m under EMTN. Bonds have a 9-year term and pay a fixed rate of 0.50% Net debt 3,535.4 3,062.8 2,960.3 472.6 575.1 Medium/long-term 4,116.9 3,523.3 3,467.5 5
Slide 15: Q&A session
ACEA Group ACEA Group 9M 2020 Results Rome, 10 November 2020 Q&A session MIL 190401 - Piano Industriale 201 ... 9M 2020 Results 15
Slide 16: 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.