Thessaloniki Water And Sewage Company Sa · ATHEX:EYAPS

Thessaloniki Water And Sewage Company Sa — EYATh S.A. (Thessaloniki Water and Sewerage Company) — Investor Presentation (April 2016)

66 slides from Thessaloniki Water And Sewage Company Sa's investor presentation, April 2016

  1. Slide 1: Analysts' Presentation April 2016

    Analysts’ Presentation April 2016

  2. Slide 2: Index

    Index 1. Vision 3 2. Target 4 3. Strategy 5 4. The Company today 6 5. Financial Results & Share 19 6. Growth Strategy 53 7. Business Plan 57 Company Presentation - Fiscal Year 2015- April 2016

  3. Slide 3: Vision

    Vision The management has adopted modern technology to control all applications for even better water quality as well as improvement of sewerage treatment. With respect to the environment and the water resources the management’s main target is the protection of the Thermaikos bay. Dried Sludge Plant

  4. Slide 4: Target

    Target Constant improvement of the provided services Secure provision of excellent quality drinking water Efficient environmental protection Improvement of the company financials Establish ecological awareness among consumers in relation to the proper use of water and environmental protection in gen

  5. Slide 5: Strategy

    Strategy The Company Strategy focuses upon the fulfillment of its obligations as a Public Utility Company Implement awareness campaigns for consumers on issues of sustainable water management and environmental protection Dried Sindos Plant Company Presentation - Fiscal Year 2015- April 2016

  6. Slide 6: EYATh today

    EYATh today Company Presentation - Fiscal Year 2015- April 2016

  7. Slide 7: Main Directions

    Main Directions Rationalization of financial accounts Removal of significant amount of sludge Maintenance works increase with costs decrease Ensuring profitability and liquidity Partial replacement of network and leaks limitation Bills payment through the internet and favorable terms of claims payme

  8. Slide 8: Priorities

    Priorities The reuse of the treated liquid waste in cultivation close to the Treatment Plant The reinforcement of the production plant and exploitation of biogas from the sludge, which is already in the Sindos plant as well as the exploitation of its heating power. Finally, the company Business Plan

  9. Slide 9: At a Glance

    At a Glance EYATh S.A. In progress is the Investment Plan 2010-2014 of total value € 90.9 mil. Design and Implementation of the new Investment Plan 2015-2018, total value € 67.3 mil. ΕΥΑΘ Α.Ε. Expansion of the customer base Exploitation of renewable resources for energy production is part of the lon

  10. Slide 10: Strategy Implementation Framework

    Strategy Implementation Framework Main axis for strategy planning remains the sustainability in growth as well as the choices for humanity Combination of business operations and social responsibility Provision of high level water and sewerage services with the minimum possible cost Protection of the

  11. Slide 11: Design of Services

    Design of Services Design and implementation of the following: Upgrade of the Sewerage Treatment Plant in cooperation with the Greek Development Bank as a management body of the Sindos Industrial Area Electronic monitoring of the Water and Sewerage Network for the precise estimation of operation and

  12. Slide 12: Projects

    Projects Major projects in progress: a) Upgrade of the Sewage Treatment Plant of Thessaloniki - Biological Reactor Repair & Operation System. b) Automation remote control systems - remote control pumping sewage (SCADA) c) Supply, installation and configuration of a new information system (SAP) Phase

  13. Slide 13: Treatment Plant

    Treatment Plant Operation & Maintenance : Receiving the majority of the urban waste Removal of substantial amounts for the production of organic fertilizers Progressive increase in demand for calcified material Remaining quantity amounts to 130,000 tonnes The product of the plant will be provided to

  14. Slide 14: Sewerage Treatment Plant

    Sewerage Treatment Plant Capacity : Capacity of Organic Load (design): 296,000 m3 Population Served (design): 1,333,000 Service Data for 2015: Average daily Service: 158,760 m3 Amounts of wastes (m3/daily): a. Urban wastes 158,930 m3 Annual production of dewatered sludge 44,000 tons Annual productio

  15. Slide 15: Important Facts

    Important Facts Management’s strategy outcome: Streamlining and consolidation of the financial results of the company Significant increase in dividend payout from € 0.121 to € 0.24 per share for the year 2014 Improving infrastructure and facilities Removal of significant amounts of sludge mainly in

  16. Slide 16: Outlook

    Outlook Investments in sewage processing plants for significant environmental improvements and energy savings Development of information systems Expansion of infrastructure and networks of the company in the region of Thessaloniki Company Presentation - Fiscal Year 2015- April 2016

  17. Slide 17: EYATh S.A. today Water Sewerage

    EYATh S.A. today  250,000 m³ average daily water production  600,000 customers-consumers Water  2,340 th. pipe network length  120 sqm. service area  175,000 m³ average daily sewerage treatment  1,700 th. total network length Sewerage  510,000 customers-consumers  637 sqm. service area Refin

  18. Slide 18: EYATh S.A. today

    EYATh S.A. today EYATh fixed Assets EYATh S.A. Raw water conveyance system: 4 Pumping 45 Storage Pipes Network stations Tanks 112 Facilities Water Treatment Quality Control • In July ’01, E.Y.A.Th. Fixed Assets signed a 30 years exclusive agreement with E.Y.A.Th. S.A. • E.Y.A.Th. SA purchases unproc

  19. Slide 19: Financial Results & Share

    Financial Results & Share Company Presentation - Fiscal Year 2015- April 2016

  20. Slide 20: Consolidated Annual Financial Results - 2015

    Consolidated Annual Financial Results - 2015  The Group’s turnover for the closing fiscal period reached €73,048 as opposed to €73,693 during the respective fiscal period last year thus a decrease of € 644 or 0.87%.  Cost of sales amounted to € 46,980 against € 47,425 in 2014, thus a change of € 4

  21. Slide 21: Income Financials - 2015

    Income Financials - 2015 80 40 Turnover (€ mil.) Gross Profit (€ mil.) 73.7 73 72.3 70 30 Summary on Financials (€ th.) 25.8 26.3 26.1 2015 2014 Difference Turnover 73.048 73.693 -0.88% 60 20 Cost of Water Sold 46.98 47.425 -0.94% 2013 2014 2015 2013 2014 2015 Earnings Before Tax 26.068 26.268 -0.76

  22. Slide 22: Balance Sheet - 2015

    Balance Sheet - 2015 2015 2014 (€ th.) Assets Non C urrent Assets 87,791 87,087 C urrent Assets 107,264 102,286 Total Assets 195,235 189,373 Equity 150,668 145,784 Debt 26,651 26,899 Total Liabilities 192,235 189,373 2012 figures adjusted to revised IAS 19 Company Presentation - Fiscal Year 2015- Ap

  23. Slide 23: Cash Flow - 2015

    Cash Flow - 2015 2015 2014 (€ th.) Operating Activities 14,645 11,337 Investing Activities - 5,520 - 4,129 Financing Activities - 8,474 - 10,492 C ash - beginning 50,305 53,588 C ash - end 50,956 50,305 C ash - increase / decrease 652 - 3,284 2012 figures adjusted to revised IAS 19 Company Presentat

  24. Slide 24: Financial Ratios - 2015

    Financial Ratios -2015 2015 2014 2013 2012 Productivity Ratios Gross Profit Margin 35.69% 35,65% 35.71% 41.39% ΕΒΙΤ 26.80% 24,92% 21.77% 25.14% Liquidity Ratios Liquidity 5.99% 6.13% 4.81% 3.39% Capital Structure Ratio Equity / Debt 338.07% 334,46% 297.08% 247.06% Investment Ratio EPS 0.35 0,37 0,36

  25. Slide 25: Turnover Progression - 2015

    Turnover Progression - 2015 Company Presentation - Fiscal Year 2015- April 2016

  26. Slide 26: Turnover - 2015

    Turnover - 2015 Company Presentation - Fiscal Year 2015- April 2016

  27. Slide 27: Gross Profit - 2015

    Gross Profit - 2015 Company Presentation - Fiscal Year 2015- April 2016

  28. Slide 28: EBITDA - 2015

    EBITDA - 2015 30,000 24,241 25,338 25,000 1,097 20,000 € th. 15,000 10,000 5,000 0 EBITDA 2014 Increase EBITDA 2015 Company Presentation - Fiscal Year 2015- April 2016

  29. Slide 29: Liquidity - 2015

    Liquidity - 2015 Liabilities € mil. Equity € mil. 160 50 151 45 150 146 45 44 140 40 130 € mil. 35 € mil. 120 30 110 25 100 20 2014 2015 2014 2015 Cash € mil. Dividend € mil. 55 9.0 8.526 8.0 51 50 7.0 € mil. 50 € mil. 6.0 5.0 4.543 45 4.0 2014 2015 2014 2015 Company Presentation - Fiscal Year 2015-

  30. Slide 30: Earnings Before Taxes - 2015

    Earnings Before Taxes - 2015 Company Presentation - Fiscal Year 2015- April 2016

  31. Slide 31: Earnings After Taxes - 2015

    Earnings After Taxes - 2015 Company Presentation - Fiscal Year 2015- April 2016

  32. Slide 32: Tangibles - 2015

    Tangibles - 2015 Tangibles 60,000 49,746 50,000 45,386 40,000 35,413 31,825 30,000 € th.. 20,000 10,000 0 2014 2015 Water Sewrage 2015 2014 39% 44% 56% 61% Company Presentation - Fiscal Year 2015- April 2016

  33. Slide 33: Liabilities - 2015

    Liabilities - 2015 Liabilities 10,000 9,049 9,000 8,108 7,613 8,000 7,000 5,893 6,000 5,000 € th 4,000 3,000 2,000 1,000 0 2014 2015 Water Sewerage 2014 2015 42% 54% 46% 58% Company Presentation - Fiscal Year 2015- April 2016

  34. Slide 34: Cost Analysis - 2015

    Cost Analysis - 2015 Cost Analysis 50,000 47,425 46,980 45,000 40,000 35,000 30,000 € th. 25,000 20,000 15,000 10,000 6,749 4,824 3,437 4,461 5,000 286 239 0 Priduction Distribution Managing R&D 2014 2015 2014 2015 6% 8% 0% 0% 12% 9% 82% 83% Production Distribution Managing R&D Company Presentation

  35. Slide 35: Cost Reconciliation - 2015

    Cost Reconciliation - 2015  Costs decrease in 2015 compared to 2014 Company Presentation - Fiscal Year 2015- April 2016

  36. Slide 36: Consumption Breakdown - 2015

    Consumption Breakdown - 2015 sq.m. (mil.) 2015 2014 % Households 37.6 38.2 -1.6% Public Sector 1.9 1.9 0.0% Public Sub Sector 6.3 6.8 -7.4% Industry 3.6 3.8 -5.3% ELPE 2.1 2 5.0% Businesses 2.9 2.9 0.0% Total 54.4 53.4 1.9% Company Presentation - Fiscal Year 2015- April 2016

  37. Slide 37: Completed Projects - 2015

    Completed Projects - 2015 37 Company Presentation - Fiscal Year 2015- April 2016

  38. Slide 38: Works in the Process - 2015

    Works in the Process - 2015 Company Presentation - Fiscal Year 2015- April 2016

  39. Slide 39: Network Maintenance - 2015

    Network Maintenance - 2015 2010 2011 2012 2013 2014 2015 TOTAL WATER 4,323,636.94 3,876,340.17 4,620,479.59 5,237,922.96 5,361,057.29 5,398,063.75 28,817,500.70 SEWERAGE 5,893,148.70 7,822,474.50 8,055,344.88 8,858,010.37 9,081,054.67 10,121,863.68 49,831,896.80 TOTAL 10,216,785.64 11,698,814.67 12,

  40. Slide 40: Tariff Policy

    Tariff Policy  The Company’s Board of Directors with the number 517/2006 decision has approved the new invoicing policy for the five year period 2007 – 2011, validated by the number 11741/29-12-2006 JMD of the Minister of Economy and Finance and Minister of Macedonia Thrace, (G.N 202, Issue Β’ 16-2

  41. Slide 41: 6year Financial Results

    6year Financial Results Results 2010 2011 2012 2013 2014 2015 Turnover 71,182 75,400 73,851 72,299 73,693 73,048 C osts 44,878 42,876 43,284 46,479 47,425 46,980 Gross Profit 26,304 32,524 30,566 25,821 26,268 26,068 Other Income 3,406 2,635 3,133 3,418 3,392 4,397 29,710 35,159 33,699 29,238 29,660

  42. Slide 42: Turnover (€ mil.)

    6 year Turnover 80 75.400 73.900 72.300 73.700 73.00 71.200 70 60 Turnover (€ mil.) 50 40 30 20 10 0 2010 2011 2012 2013 2014 2015 Company Presentation - Fiscal Year 2015- April 2016

  43. Slide 43: Gross Profit (€ mil.)

    6 year Gross Profit 35 32.5 30.6 30 26.3 25.8 26.3 26.1 25 Gross Profit (€ mil.) 20 15 10 5 0 2010 2011 2012 2013 2014 2015 Company Presentation - Fiscal Year 2015- April 2016

  44. Slide 44: Dividend / Share 6 year

    Dividend / Share 6 year Company Presentation - Fiscal Year 2015- April 2016

  45. Slide 45: EYATh in numbers - 2015

    EYATh in numbers - 2015 Personnel 750 638 614 615 627 650 610 606 584 561 549 550 509 439 450 405 327 350 287 258 242 229 224 250 150 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015  2.18% staff decrease in 2015 compared to 2014 Company Presentation - Fisca

  46. Slide 46: EYATh in numbers - 2015

    EYATh in numbers - 2015 Turnover per employee 350 322 326 299 300 286 263 250 218 191 200 173 th. € 138 130 141 136 139 139 150 120 123 106 116 116 94 100 50 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 EYATH EYDAP  1.24 % turnover increase per employee in 2015 compared to 2014 Company Prese

  47. Slide 47: EYATh in numbers

    EYATh in numbers Net Earnings per Employee 80 72 69 70 58 60 60 54 50 Th. € 40 38 29 31 30 27 24 18 19 18 19 20 12 10 9 9 10 4 2 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 EYATH EYDAP  3.4% earnings per employee increase in 2015 compared to 2014 Company Presentation - Fiscal Year 2015- Apr

  48. Slide 48: Share

    Share Established: 1998 IPO: 2001 Reuters Code: TWSr.AT Bloomberg Code: EYAPS:GA Market Cap 31/12/2015: € 108,9 mil. No. of Shares: 36,300,000 ASE Category: Large Cap Company Presentation - Fiscal Year 2015- April 2016

  49. Slide 49: Share

    Share Company Presentation - Fiscal Year 2015- April 2016

  50. Slide 50: Shareholders

    Shareholders Natural Persons; Other; 8.83% 2.23% Legal Persons; 14.92% TAIPED; 74.02% Company Presentation - Fiscal Year 2015- April 2016

  51. Slide 51: Share

    Share Sector Market Cap P/E (x) Annual Price/Sales (x) Dividend Return Return (%) 2015(%) 5year EYATH € 108.1 m. 13.23 27.15 1.5 8.05 EYADAP € 426 m. 9.70 -21.36 1.3 5 Pennon Group GBP 3.3 b. 27.21 -0.22 2.4 4,4 Acqua America $ 5.5 b. 26.41 22.36 6.8 2.3 Veolia € 11.4 b. 0.68 16.95 0.4 3.6 Severn Tr

  52. Slide 52: Growth Strategy

    Growth Strategy Company Presentation - Fiscal Year 2015- April 2016

  53. Slide 53: Strategy - Actions

    Strategy - Actions  Strategy which ensures the sustainability of the Company targeting the Customer service and the Environmental protection  Expansion of the Company’s operations to take place initially in the areas the EYATh services and then into new areas  Automation of facilities with the in

  54. Slide 54: Organic Growth Strategy

    Organic Growth Strategy Targets Strategy  Investments improving capacity  Efficient Resource  Use of alternative water Management resources Water Supply  Optimization of Quality Control  Network Modernisation  Implementation of exquisite technological methods  Sewerage network construction 

  55. Slide 55: Organic Growth Strategy

    Organic Growth Strategy Targets Strategy  Seminars – Conferences  HR programs  Training Programs  Client Satisfaction rating system adoption  Client Service  Electronic client support and communication network Operational upgrade Restructure  Upgrade & control of the production and management

  56. Slide 56: Non Organic Growth Strategy

    Non Organic Growth Strategy Targets Strategy  Customer Base Expansion  Expansion into municipalities beyond exclusive jurisdiction  Strategic Alliances New Business  New services based on  Energy Units EYATh’s competitive  Implementation of modern advantages and existing methods in network cli

  57. Slide 57: Reporting Table of the Business Plan of EYATh S.A., 2010 - 2015

    Reporting Table of the Business Plan of EYATh S.A., 2010 - 2015 Company Presentation - Fiscal Year 2015- April 2016

  58. Slide 58: Business Plan

    Business Plan STATEMENT OF INVESTMENTS 2011 - 2015 DESCRIPTION 2010 2011 2012 2013 2014 2015 1 Buildings 0.00 0.00 0.00 0.00 850.00 0.00 2A Machinery & Other 759,200.07 664,109.04 205,589.14 824,447.23 366,033.60 476,656.92 2B Installed Water Meters 128,586.01 114,950.44 110,763.99 443,665.28 404,44

  59. Slide 59: Business Plan

    Business Plan Company Presentation - Fiscal Year 2015- April 2016

  60. Slide 60: European Tarriff Statistics

    European Tarriff Statistics Πηγή: http://www.irishtimes.com/news/politics/irish-water-charges-cheapest-in-europe-under-revised- package-1.2007413 Company Presentation - Fiscal Year 2015- April 2016

  61. Slide 61: European water tariffs

    European water tariffs Estimation : Average use of 180,000 lt of water per year of a four member family. http://www.thejournal.ie/water-charges-in-ireland-versus-europe-1789576-Nov2014/ 61 Εταιρική Παρουσίαση Αποτελεσμάτων Έτους 2015 - Απρίλιος 2016

  62. Slide 62: European water tariffs

    European water tariffs The average price in 65 cities in Western Europe is € 1.91 per 1,000 liters. Many countries have a pricing structure 'block' ie the first 500 liters are charged at low or no cost and any higher 'block' the water is more expensive. It is also noteworthy that the countries charg

  63. Slide 63: Household water use

    Household water use 63 Εταιρική Παρουσίαση Αποτελεσμάτων Έτους 2015 - Απρίλιος 2016

  64. Slide 64: Global water tariffs map

    Global water tariffs map 64 Εταιρική Παρουσίαση Αποτελεσμάτων Έτους 2015 - Απρίλιος 2016

  65. Slide 65: Disclaimer

    Disclaimer This material contains certain “forward-looking” statements. These statements reflect management’s current expectations based on economic conditions and fundamentals. This presentation serves only informative purposes and it does not form or can either be referred as a buy, sell or hold e

  66. Slide 66: Company Presentation - Fiscal Year 2015- April 2016

    Company Presentation - Fiscal Year 2015- April 2016

EYATh S.A. (Thessaloniki Water and Sewerage Company) — Investor Presentation (April 2016) on 6ix