Slide 1: 1H2024 Results
1H2024 Results People for Rome, 25 July 2024 sustainable 0 infrastructure
Slide 2: Agenda
Market Environment Agenda 1H2024 Results Appendix 1
Slide 3: Regulatory and Market Environment
REGULATORY AND MARKET ENVIRONMENT DOWNTURN IN THE PRICE OF COMMODITIES Regulation Commodity prices and inflation Interest rates2 • Water: application of Water Service Tariff Method 4 (MTI-4, for • 2024 energy price (SNP) falling to regulatory period 2024-2029) with an 93€/MWh Increase in short-term
Slide 4: Agenda
Market Environment Agenda 1H2024 Results Appendix 3
Slide 5: 1H2024 Results: Increasing results, in line with guidance
1H2024 RESULTS I N C R E A S I N G R E S U LT S , I N L I N E W I T H G U I D A N C E Group revenues equal to €2.0bn, of which around €1.2bn relating to regulated businesses, Revenues +2% vs. 2023 up by +2% compared to 2023 regulated businesses1 Recurring EBITDA amounting to €720m, +€50m compared to
Slide 6: Overview of 1H2024 Results
OVERVIEW OF 1H2024 RESULTS I N V E S T M E N T S A N D G R O W T H I N R E G U L AT E D B U S I N E S S E S C O N T I N U E EBITDA, €m CAPEX, €m 1H2024 confirms the focus on Non-recurring events and changes in scope Grant-funded regulated businesses, which account for REVENUES1 2,296 1,991 729 appro
Slide 7: 1H2024 EBITDA
1H2024 EBITDA G R O W T H D R I V E N B Y O R G A N I C D E V E L O P M E N T O F R E G U L AT E D B U S I N E S S E S EBITDA, €m 729 18 80 7 36 367 221 WATER GRIDS AND PUBLIC ENVIRONMENT GENERATION COMMERCIAL OTHER 1H2024 EBITDA ITALY LIGHTING BUSINESSES2 51% 30% 5% 2% 11% 1% (86%1) +7% 720 729 670
Slide 8: 1H2024 Net Profit
1H2024 NET PROFIT O P E R AT I O N A L A N D F I N A N C I A L M A N A G E M E N T D R I V E T H E I N C R E A S E I N N E T P R O F I T NET PROFIT, €m +18% 168 172 4 3 142 142 22 0 1H2023 Change in scope and 1H2023 Operational Financial 1H2024 Change in scope and 1H2024 Net profit non-recurring eve
Slide 9: Capex 1H2024
CAPEX 1H2024 8 9 % O F I N V E S T I M E N T S M A D E I N R E G U L AT E D B U S I N E S S E S CAPEX 1 , €m 32 10 22 12 149 568 343 60% 26% 3% 2% 6% 2% (89%2) WATER GRIDS AND PUBLIC ENVIRONMENT GENERATION COMMERCIAL OTHER 1H2024 CAPEX ITALY LIGHTING BUSINESSES3 • RECLAMATION AND • UPGRADE OF THE GR
Slide 10: Cash Flow 1H2024
CASH FLOW 1H2024 P E R F O R M A N C E I N L I N E W I T H T H E Y E A R - E N D G U I DA N C E CASH FLOW, €m 1H2024 Operating CF equal to €25M, notwithstanding the absorption of working capital mainly due to the regulatory 124() items and the lower amount of receivables sold 729 (134) (17) 503 (75)
Slide 11: 1H2024 Financial Structure
1H2024 FINANCIAL STRUCTURE L E V E R AG E I N L I N E W I T H 2 0 2 4 G U I DA N C E , AV E R AG E C O S T O F D E B T A RO U N D 2 % FY23-1H2024 NFP, €m Leverage NET D EB T /EB I TDA NET D EB T /EB I TDA DEC 23 1H2024 ∆ 1H24 vs DEC 23 30/06/2024 31/12/2023 NFP 4,847 5,130 283 3.54x 3.49x Long-term
Slide 12: Water Italy: EBITDA Growth +5%
WATER ITALY1: EBITDA GROWTH +5% O RG A N I C G ROW T H D R I V E N BY I N V E S T M E N T S REVENUES, €m EBITDA, €m +5% Growing recurring EBITDA (+ 716 718 €17m): 353 17 370 367 Tariff growth (+€27m fully +2 (3) consolidated companies, net of (0%) pass-through charges) Organic growth Recurring Chang
Slide 13: Grids and Public Lighting: EBITDA Growth +16%
GRIDS AND PUBLIC LIGHTING: EBITDA GROWTH +16% O RG A N I C G ROW T H D R I V E N BY I N V E S T M E N T S Revenues, €m EBITDA, €m 348 314 +16% Increasing EBITDA (+€30m): 30 Increase in electricity +33 216 5 221 (11%) 186 distribution tariffs (WACC from 5.2% to 6.0%) 1H2023 1H2024 Change in scope 1H2
Slide 14: Environment: Growth in Investments
ENVIRONMENT: GROWTH IN INVESTMENTS M A RG I N S A F F E C T E D BY T H E E N E RG Y S C E N A R I O Revenues, €m EBITDA, €m Change in scope and non-recurring events 167 153 -13% 0 Decreasing EBITDA (-€5m): -7 42 37 36 Energy scenario (-€4m) 167 160 (5) (1) (-4%) Lower recycling and liquids treatment
Slide 15: Generation: Energy Scenario and Lower Volumes Produced
GENERATION: ENERGY SCENARIO AND LOWER VOLUMES PRODUCED M A RG I N S A F F E C T E D BY LOW E R H Y D RO E L E C T R I C VO L U M E S A N D T H E E N E RG Y S C E N A R I O Revenues, mln€ EBITDA, mln€ -36% Decreasing EBITDA (-€11m): 74 31 Lower prices on the energy 47 (11) 20 18 markets (SNP -43€/MWh
Slide 16: Commercial: EBITDA Growth +44%
COMMERCIAL: EBITDA GROWTH +44% G ROW T H I N M A RG I N S A N D F R E E M A R K E T C U S TO M E R B A S E Revenues, €m EBITDA, €m +44% Increasing EBITDA (+€25m): 1,232 Increase in margins and 860 25 80 customer base 55 -372 (-30%) 1H2023 1H2024 1H2023 Organic 1H2024 growth Number of Total electrici
Slide 17: Agenda
Market Environment Agenda 1H2024 Results Appendix 16
Slide 18: Sustainability Rating
Sustainability rating 64/100 "EE+" "A-" "A" Leadership 81.58/100 19.7 "Leader ESG risk ESG rating Identity" 17 17
Slide 19: Consolidated Income Statement as at 30/06/24
CONSOLIDATED INCOME STATEMENT AS AT 30/06/24 Consolidated Income Statement (€/000) Increase/(De 30 June 2024 30 June 2023 crease) Sales and service revenues 1,928,457 2,219,783 (291,326) Other operating income 62,769 76,387 (13,618) Consolidated net revenue 1,991,226 2,296,170 (304,944) Staff costs
Slide 20: Consolidated Balance Sheet as at 30/06/24
CONSOLIDATED BALANCE SHEET AS AT 30/06/24 Consolidated Statement of Financial Position (€/000) ASSETS 30 June 2024 31 December 2023 Increase/(Decrease) Property, plant and equipment 3,414,415 3,334,868 79,547 Investment property 1,964 1,990 (26) Goodwill 254,596 254,626 (30) Concessions and infrastr
Slide 21: Q&A
Q& People for sustainable 20 infrastructure
Slide 22: Disclaimer
DISCLAIMER THIS PRESENTATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS THAT REFLECT THE CURRENT VIEWS OF THE MANAGEMENT WITH REGARD TO FUTURE EVENTS AND THE FINANCIAL AND OPERATIONAL PERFORMANCE OF THE COMPANY AND THE GROUP. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON CURRENT EXPECTATIONS AND PR