Ascopiave S.p.a. · MIL:ASC
Ascopiave — H1 2026 Earnings Presentation
12 slides from Ascopiave's earnings presentation, Jul 30, 2026
Slide 1: 6M 2026 Consolidated Results
Ascopiave Group 6M 2026 CONSOLIDATED RESULTS Conference Call Gruppo Pieve di Soligo, 30th July 2026
Slide 2: Ascopiave Group structure as of 30th June 2026
Ascopiave Group Ascopiave Group structure as of 30th June 2026 6M 2026 CONSOLIDATED RESULTS 100% 18.33% 100% 100% 13% 100% 90% 100% 5% (1) 100% (2) 100% (3) Minority interests Companies consolidated using the full Companies consolidated using the full The investment in Cogeide is consolidated using
Slide 3: Change in the consolidation scope and participations disposals
Ascopiave Group Change in the consolidation scope and participations disposals 6M 2026 CONSOLIDATED RESULTS CHANGE IN THE CONSOLIDATION SCOPE PARTICIPATIONS DISPOSALS Acquisition of AP Reti Gas North as of 1st July 2025 Sale of 25% of the share capital of Estenergy as of 24th June 2025 Acquisition o
Slide 4: Operating data
Ascopiave Group Operating data 6M 2026 CONSOLIDATED RESULTS GAS DISTRIBUTION RENEWABLE ENERGIES Number of gas distribution users Volumes of gas distributed Volumes of electricity produced (Million of standard cubic meters) (GWh) +621,137 +516.0 -20.4 +71% +64% -22% 1,490,404 1,327.0 (1) (2) 622,814
Slide 5: 6M 2026 consolidated income statement
Ascopiave Group 6M 2026 consolidated income statement 6M 2026 CONSOLIDATED RESULTS New 6M 2026 Like-for-like Like-for-like Income Statement (Thousands of Euros) 6M 2026 6M 2025 Chg Chg % consolidation Like-for-like change change % scope basis Gas distribution tariff revenues 118,126 77,406 40,720 +5
Slide 6: EBIT bridge
Ascopiave Group EBIT bridge 6M 2026 CONSOLIDATED RESULTS -20,843 -39% 16,982 6,814 Non-recurring costs for the integration of AP Reti Gas North: Euro 2.0 mln Tariff adjustments: Euro 8.6 mln 26,380 1,845 929 693 1,164 53,219 Cost for the termination of the relationship with the former General Manage
Slide 7: Financial KPIs
Ascopiave Group Financial KPIs 6M 2026 CONSOLIDATED RESULTS Ebitda & Ebit Bridge Reported (Thousands of Euros) 6M 2026 % of rev. 6M 2025 % of rev. Chg Chg % Factors affecting comparability EBITDA Reported 71,757 48% 77,627 72% (5,871) -8% 2026: EBITDA - Gas Distribution 44,917 30% 50,483 47% (5,567)
Slide 8: Investments
Ascopiave Group Investments 6M 2026 CONSOLIDATED RESULTS New Like-for-like Like-for-like Investments (Thousands of Euros) 6M 2026 6M 2025 Chg Chg % consolidation change change % scope Gas service connections 12,989 7,911 5,079 64% 3,995 1,084 14% Network extensions, replacements and upgrades 15,571
Slide 9: Consolidated balance sheet as of 30th June 2026
Consolidated balance sheet as of 30th June 2026 Ascopiave Group 6M 2026 CONSOLIDATED RESULTS Balance sheet (Thousands of Euros) 30/06/2026 30/06/2025 Chg Chg % 31/12/2025 Chg Chg % Tangible assets (1) 186,909 166,048 20,861 +13% 184,009 2,900 +2% Non tangible assets 1,373,359 796,927 576,432 +72% 1,
Slide 10: Net financial position and cash flow
Ascopiave Group Net financial position and cash flow 6M 2026 CONSOLIDATED RESULTS +40,021 +7% 32,000 47,110 34,630 18,161 859 54,700 652,922 612,901 (Thousands of Euros) 31/12/2025 Cash flow Capex Change in NWC Dividends Change in Purchase of 30/06/2026 (1) (2) received shareholders' assets and equi
Slide 11: Financial debt
Ascopiave Group Financial debt 6M 2026 CONSOLIDATED RESULTS Financial debt (Thousands of Euros) 30/06/2026 30/06/2025 Chg Chg % 31/12/2025 Chg Chg % Long term financial borrowings 379,462 368,506 10,956 +3% 394,170 (14,708) -4% Current position of long term financial borrowings 92,042 57,773 34,269
Slide 12: Disclaimer
Ascopiave Group Disclaimer 6M 2026 CONSOLIDATED RESULTS Disclaimer ❖ This presentation has been prepared by Ascopiave S.p.A. for information purposes only and for use in presentations of the Group’s results and strategies. ❖ For further details on the Ascopiave Group, reference should be made to pub