Slide 1: Financial results as at 30th September 2018
Financial results as at 30th September 2018
Slide 2: Highlights on 9M '18 results
Highlights on 9M ‘18 results 9M main growth rates (%,M€) +14,1% +9.7% +7.2% 208.7 +5.2% +3.3% 311.0 4,669.5 376.5 748.6 Revenues Ebitda Ebit Pre tax Net Profit A healthy growth GRUPPOHERA 01
Slide 3: 9M earnings per share, almost doubled since 2014
9M earnings per share, almost doubled since 2014 9M EPS growth 9M ROE rolling (€c) (%) +16% CAGR +10% CAGR 10,2% 14,2 9,7% 12,4 7,9% 7,0% 7,3% 9,7 8,5 7,8 9M '14 9M '15 9M '16 9M '17 9M '18 9M '14 9M '15 9M '16 9M '17 9M '18 Of yearly results: 69% 69% 73% 69% Effective delivery on expectations GRUPP
Slide 4: 9M 2018 EBITDA growth
9M 2018 EBITDA growth Ebitda growth (M€) +23.9 m€ (+3.3%) +3,2 748,6 +20,7 724,7 9M '17 Regulated Liberalized 9M '18 Networks + Waste Collection Energy + Waste Treatment + Other Balanced growth in all main activities GRUPPOHERA 03
Slide 5: Enhancing "circularity" of our asset platform
WASTE: growing treatment prices due to Italian plant shortage Ebitda growth drivers Green gas plant Sant’Agata started up (M€) +9.8 +0.7 188,2 181,4 (3.7) 9M '17 Syn. Organic Other 9M '18 Aliplast Growth Enhancing “circularity” of our asset platform GRUPPOHERA 04
Slide 6: NETWORKS: enhancing returns on RAB
NETWORKS: enhancing returns on RAB Ebitda growth driver Ebitda breakdown and growth rates (M€) (M€, 9M/9M ch. %) +10,0 325,9 +6.4% +8.5% +15.6% +9,5 306,4 +8.6% 31.9 9.6 325,9 98.2 +4.4% 186,2 9M '17 Reg. Efficiencies 9M '18 Water Gas Electricity D.H. Networks Revenues Smarter infrastructures GRUPPO
Slide 7: ENERGY: expansion in all main activities
ENERGY: expansion in all main activities Ebitda growth by activity Energy customer base (M€) (K unit) +97k customers +75 2.452 +7.9 +3.9 2.355 +22 220,7 215,7 (16.8) 9M '17 Gas Electricity 9M '18 Gas volume growth (bcm) 3,253 +628 3,958 +77 1.749 2.377 1.504 1.581 9M '17 Supply Trading Power Gen. 9M
Slide 8: Un-interrupted growth even below operating profits
Un-interrupted growth even below operating profits 9M Financial Inc./(Expenses) (8.6%) CAGR 9M EPS growth rates +16.3% CAGR (M€) (%) +28,9% 9M '14 9M '15 9M '16 9M '17 9M '18 +19,7% +13,6% +14,3% +9,3% (74,4) (65,5) (102,6) (98,8) (90,2) 9M '14 9M '15 9M '16 9M '17 9M '18 9M Tax rate (7.2%) CAGR 9M
Slide 9: "Seasonal" effects on NWC
9M 2018 Cash flows Free cash flows 9M 2018 (M€, Debt/Ebitda rolling “x”) +534 2.62x Debt/Ebitda (152.8) (284.3) (34.5) +62,4 0 (150.4) (16,9) (14,1) (119.0) Cash NWC Provisions Capex Free CF Free CF Dividends Buy Back Other Debt change Generation “Seasonal” effects on NWC GRUPPOHERA 08
Slide 10: Closing remarks
Closing remarks • Good 9M results brought an advantage to 9M 2018 EPS growth face current last quarter. (euro cent, % growth 9M/9M) +14.3% • In 35% of business plan time horizon, 42% of Ebitda growth target were already achieved. 14.2c€ • Finalizing the new 5 year business plan to be disclosed begin
Slide 11: Q&A session - Annex 9M 2018
Q&A session Annex 9M 2018 Investor relations team: IR@gruppohera.it Tel.+39 051 287737 10
Slide 12: Annex: P&L
Annex: P&L 9M Profit & Loss (M€) 9M ’17 9M ’18 REVENUES 4,355.1 4,669.5 +7.2% EBITDA 724.7 748.6 +3.3% Ebitda margin 16.6% 16.0% Depreciation and provisions (366.8) (372.2) EBIT 357.9 376.5 +5.2% Financial costs (69.7) (62.5) Figurative interests (IAS) (14.0) (12.7) Income from Associates & J.V. 9.2
Slide 13: Annex: Waste
Annex: Waste P&L (m€) Q1 2017 Q1 2018 Ch. Q2 2017 Q2 2018 Ch. Q3 2017 Q3 2018 Ch. 9M 2017 9M 2018 Ch. Revenues 240.2 271.1 +31.0 306.2 290.3 (15.9) 257.4 265.2 +7.8 803.7 826.6 +22.9 Ebitda 64.0 66.5 +2.5 57.3 59.4 +2.1 60.1 62.3 +2.2 181.4 188.2 +6.8 Volumes Data Q1 2017 Q1 2018 Ch. Q2 2017 Q2 2018
Slide 14: Annex: Water
Annex: Water P&L (m€) Q1 2017 Q1 2018 Ch. Q2 2017 Q2 2018 Ch. Q3 2017 Q3 2018 Ch. 9M 2017 9M 2018 Ch. Revenues 201.8 193.2 (8.7) 205.0 219.1 +14.1 219.9 232.0 +12.2 626.7 644.3 +17.6 Ebitda 53.3 55.6 +2.3 58.1 57.3 (0.8) 66.9 73.3 +6.4 178.3 186.2 +7.9 Volumes Data Q1 2017 Q1 2018 Ch. Q2 2017 Q2 201
Slide 15: Annex: Gas
Annex: Gas P&L (m€) Q1 2017 Q1 2018 Ch. Q2 2017 Q2 2018 Ch. Q3 2017 Q3 2018 Ch. 9M 2017 9M 2018 Ch. Revenues 650.4 780.0 +129.6 287.5 348.8 +61.3 346.8 380.6 +33.8 1,284.7 1,509.4 +224.7 Ebitda 135.6 148.2 +12.5 36.2 40.2 +4.0 29.6 33.9 +4.3 201.4 222.2 +20.8 Volumes Data Q1 2017 Q1 2018 Ch. Q2 2017
Slide 16: Annex: Electricity
Annex: Electricity P&L (m€) Q1 2017 Q1 2018 Ch. Q2 2017 Q2 2018 Ch. Q3 2017 Q3 2018 Ch. 9M 2017 9M 2018 Ch. Revenues 634.1 648.0 +13.9 513.4 536.2 +22.7 627.6 656.3 +28.8 1,775.1 1,840.6 +65.4 Ebitda 48.4 45.3 (3.2) 43.1 38.7 (4.4) 55.8 49.3 (6.6) 147.4 133.2 (14.2) Volumes Data Q1 2017 Q1 2018 Ch.