Acea S.p.a. · MIL:ACE

Acea — H1 2022 Earnings Presentation

16 slides from Acea's earnings presentation, Jul 27, 2022

  1. Slide 1: Acea Group Results 1H 2022

    AC E A G R O U P R E S U LT S I H 2 0 2 2 RO M E , 2 7 J U LY 2 0 2 2

  2. Slide 2: Performance and Delivery

    PERFORMANCE AND DELIVERY R E S U LT S A H E A D O F E X P E C TAT I O N S I N A C H A L L E N G I N G E N V I RO N M E N T DOUBLE-DIGIT GROWTH +10% +12% +10% NET DEBT IN LINE WITH GUIDANCE -3% +6% 3.2x 2022 EBITDA GUIDANCE RAISED EBITDA CAPEX NET DEBT +4%/+6% VERSUS 2021 BROADLY IN LINE WITH 2021 

  3. Slide 3: Delivery in 1H 2022

    DELIVERY IN IH 2022 S U S TA I N A B L E G RO W T H M O D E L C O M B I N I N G I N N O VAT I O N A N D I N V E S T M E N T W I T H A S T RO N G F O C U S O N P E O P L E A N D T E R R I TO R I E S TO C R E AT E S H A R E D VA L U E March 2022 June 2022 January 2022 Closing of sale to Equitix of pho

  4. Slide 4: Results 1H 2022: Key Financial Highlights

    RESULTS IH 2022 KEY FINANCIAL HIGHLIGHTS (€M) 1H 2022 1H 2021 % CHANGE (A) (B) (A/B) CONSOLIDATED REVENUE 2,347.7 1,824.3 +28.7% : EBITDA 682.5 618.8 +10.3% positive operating momentum EBIT 348.3 309.8 +12.4% c a p i t a l g a i n f r o m s a l e t o E q u i t i x of a PRE-TAX PROFIT 323.7 269.2 +20

  5. Slide 5: Results 1H 2022: EBITDA

    RESULTS IH 2022 EBITDA (€M) EBITDA 16.6 27.6 682.5 8% 618.8 27.5 (0.6) (2.0) (5.4) EBITDA 26% 52% 1H 2022 1H 2021 WATER* ENERGY GENERATION COMMERCIAL & ENVIRONMENT** OTHER BUSINESSES^ 1H 2022 INFRASTRUCTURE TRADING AND HOLDCO EBITDA 6% 353.7 181.1 52.0 38.4 58.3 (1.0) 8% (€M) (€M) EBITDA 619 27 11 6

  6. Slide 6: Financial Highlights 1H 2022: Water

    FINANCIAL HIGHLIGHTS IH 2022 HIGHLIGHTS (€M) 1H 2022 1H 2021 % CHANGE (A) (B) (A/B) EBITDA 353.7 326.2 +8.4% WATER ACEA ATO2 241.5 215.7 +12.0% INCLUDING GAS DISTRIBUTION BUSINESS ACEA ATO5 17.9 15.3 +17.0% Gori 35.6 41.0 -13.2% Adf 31.8 32.2 -1.2%  Closing of agreement between the Consortium estab

  7. Slide 7: Financial and Operational Highlights 1H 2022: Energy Infrastructure

    FINANCIAL AND OPERATIONAL HIGHLIGHTS IH 2022 HIGHLIGHTS TOTAL NUMBER OF ELECTRICITY PODs DISTRIBUTED (GWh) (‘000s) ENERGY (€M) 1H 2022 1H 2021 % CHANGE 4,275 4,560 INFRASTRUCTURE (A) (B) (A/B) 1,638 1,648 EBITDA 181.1 181.7 (0.3%) - Areti 181.5 184.0 (1.4%) - Public lighting (0.4) (2.3) n/s CAPEX 13

  8. Slide 8: Financial and Operational Highlights 1H 2022: Generation

    FINANCIAL AND OPERATIONAL HIGHLIGHTS IH 2022 HIGHLIGHTS TOTAL ELECTRICITY PRODUCED (GWh) (€M) 1H 2022 1H 2021 % CHANGE GENERATION (A) (B) (A/B) 414 * 377 * EBITDA 52.0 35.4 +46.9%  Deal with Equitix for the sale of a majority stake in the CAPEX 19.5 21.7 -10.1% 1H21 1H22 holding company to which Ac

  9. Slide 9: Financial and Operational Highlights 1H 2022: Commercial & Trading

    FINANCIAL AND OPERATIONAL HIGHLIGHTS IH 2022 HIGHLIGHTS (€M) 1H 2022 IH 2021 % CHANGE (A) (B) (A/B) EBITDA 38.4 40.4 -5.0% COMMERCIAL & CAPEX 20.6 36.0 -42.8% TRADING TOTAL ENERGY SOLD NUMBER OF TOTAL GAS SOLD NUMBER OF GAS (GWH) ELECTRICITY (M m c 3 ) CUSTOMERS (‘000s) CUSTOMERS (‘000s) 4,131 3,806

  10. Slide 10: Financial and Operational Highlights 1H 2022: Environment

    FINANCIAL AND OPERATIONAL HIGHLIGHTS 1H 2022 HIGHLIGHTS 1H 2022 1H 2021 % CHANGE (€M) (A) (B) (A/B) EBITDA 58.3 30.7 +89.9% ENVIRONMENT CAPEX 18.5 14.8 +25.0% TREATMENT AND DISPOSAL ELECTRICITY SOLD  Acquisition of 70% of S.E.R.Plast and 60% of Meg, (KTONNES) (GWh) companies operating in the plasti

  11. Slide 11: EBIT and Net Profit 1H 2022

    EBIT AND NET PROFIT IH 2022 348.3 323.7 309.8 269.2 165.8 183.0 Gain on sale of Windfall tax photovoltaic assets ~ €29M ~€19M 1H21 1H22 1H21 1H22 1H21 1H22 (€M) 1H 2022 1H 2021 % CHANGE DEPRECIATION 285.3 259.9 +9.8% (tax rate 1H 2021: 29.8%) IMPAIRMENTS 42.9 45.8 -6.3% PROVISIONS 6.0 *3.3 +81.8% TO

  12. Slide 12: Capex 1H 2022

    CAPEX IH 2022 INVESTMENTS FOCUSED ON ECOLOGICAL TRANSITION AND EFFICIENCY 84% 16% 474 12 4 462 (4) (2) (15) (7) 1H 2021 WATER ENERGY GENERATION COMMERCIAL & ENVIRONMENT OTHER 1H 2022 INFRASTRUCTURE TRADING BUSINESSES^ AND HOLDCO CAPEX Investment in regulated businesses 251* 136 20 21 18 16 (€M) Inve

  13. Slide 13: Cash Flow 1H 2022

    CASH FLOW IH 2022 (€M) 1H2022 1H2021 EBITDA 682 619 CHANGE IN WORKING CAPITAL (183) (177) CAPEX* (462) (474) 38 (32) SALE OF PHOTOVOLTAIC ASSETS FREE CASH FL OW FINANCE INCOME/(COSTS) (44) (43) TECHNICAL QUALITY BONUS (WATER) CHANGE IN PROVISIONS (64) (63) INCOME TAX PAID (29) (44) FURTHER REDUCTION

  14. Slide 14: Results 1H 2022: Solid Financial Structure

    RESULTS IH 2022 SOLID FINANCIAL STRUCTURE 30 June 31 Dec 30 June CHANGE CHANGE (€M) 2022 2021 2021 (A) (B) (C) (A-B) (A-C) NET DEBT/ NET DEBT/ EBITDA LTM EBITDA NET DEBT 4,212.1 3,988.4 3,932.8 223.7 279.3 30 JUNE 2022 31 DEC 2021 Medium/long-term 4,684.7 4,792.0 4,856.5 (107.3) (171.8) Short-term (

  15. Slide 15: Q&A Session

    Q&A SESSION AC E A G R O U P R E S U LT S 1 H 2 0 2 2 RO M E , 2 7 J U LY 2 0 2 2 15

  16. Slide 16: Disclaimer

    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.P.A.’S CURR

Acea — H1 2022 Earnings Presentation on 6ix