Edison Spa · MIL:EDNR
Edison Spa — FY2020 Earnings Presentation
13 slides from Edison Spa's earnings presentation, March 2021
Slide 1: Full Year 2020 Results
FULL YEAR 2020 RESULTS Milan, March 2021 Full Year 2016 results | Feb.’17 | 1
Slide 2: Business Environment
BUSINESS ENVIRONMENT € oo? win EDISON
Slide 3: Electric Power Availability Mix in Italy
ELECTRIC POWER AVAILABILITY MIX IN ITALY (TWh) 319,6 (5.3%) 302,8 (15.6%) 38,1 5,7 (0.7%) 32,2 Pumping 5,6 23,3 +9.6% 20,0 (7.5%) 25,5 Net import 18,5 47,6 +0.8% Geothermal production 48,0 PV production Net Generation: 273.1 TWh (-3.8%) Wind production 187,3 (6.4%) 175,4 Hydroelectric production The
Slide 4: Gas Demand in Italy
GAS DEMAND IN ITALY (bcm) 73,7 (4.1%) 70,7 2,2 (3.9%) 2,1 25,8 (5.0%) 24,5 System uses and losses Thermoelectric users Industrial users Services and residential users 17,5 (5.8%) 16,5 (2.1%) 28,2 27,6 FY2019 FY2020 Gas demand fell by 4.1% yoy as a consequence of restrictions in response to the Covid
Slide 5: Market Reference Scenario
MARKET REFERENCE SCENARIO BRENT1 PSV (€c/scm) Avg FY2020: 11.0 Avg FY2020: 43.2 $/bbl Avg FY2019: 17.0 37.9 €/bbl Avg FY2019: 64.1 $/bbl 57.3 €/bbl PUN TWA Avg FY2020: 38.9 CSS2 Avg FY2019: 0.7 (€/MWh) Avg FY2019: 52.3 (€/MWh) Avg FY2018: 2.9 1. Brent IPE Full Year 2020 results | 5 2. Clean Spark Sp
Slide 6: Full Year 2020 Results
FULL YEAR 2020 RESULTS • Edison electric power and gas sources and uses • Consolidated financial highlights and capital expenditures • Operating performance • Net financial debt and cash flow | 6
Slide 7: Edison Electric Power Volumes in Italy
EDISON ELECTRIC POWER VOLUMES IN ITALY SOURCES USES (TWh) (TWh) 41,8 (8.2%) 41,8 (8.2%) 1,5 +10.6% 38,4 38,4 3,2 1,7 +0.3% 3,2 14,9 +4.3% (17.1%) 15,6 15,9 13,2 (15.2%) (4.2%) 26,9 21,2 20,3 22,8 FY2019 FY2020 FY2019 FY2020 Wind & other renewable production Other sales (wholesalers, IPEX, etc.) End
Slide 8: Edison Gas Volumes
EDISON GAS VOLUMES SOURCES USES (bcm) (bcm) (30.0%) 1,6 20,1 0 1,6 (30.0%) (17.5%) 20,1 5 nm 1,1 (17.5%) (22.5%) 0,1 16,6 5,8 (39.4%) 1,1 16,6 3,9 0,1 (8.7%) 3,5 0,1 6,6 (14.3%) 5,7 (16.4%) 14,7 12,2 4,9 +4.7% 5,2 (8.7%) 0,1 0,1 2,7 (19.1%) 2,1 (20.1%) 0,3 0,3 FY2019 FY2020 FY2019 FY2020 Sales of pr
Slide 9: Group Consolidated Highlights
GROUP CONSOLIDATED HIGHLIGHTS (€ mln) FY2019a-b FY2020a-b D Net capex & net financial investmentsa-d Sales revenues 8.198 6.390 (22,1%) EBITDA 602 684 13,6% EBIT 174 239 37,4% 954 Profit (loss) from Continuing Operations 141 191 35,5% Profit (loss) from Discontinued Operations (562) (158) 71,9% Grou
Slide 10: Operating Performance Breakdown
OPERATING PERFORMANCE BREAKDOWN Electric Power Gas operations and E&P Corporate and eliminations Total Edison Group (€ mln) FY2019b FY2020b ∆ FY2019a FY2020a ∆ FY2019a FY2020a ∆ FY2019a-b FY2020a-b ∆ Sales revenues 4.159 3.830 (7,9%) 4.892 3.243 (33,7%) (853) (683) 19,9% 8.198 6.390 (22,1%) EBITDA 4
Slide 11: From Consolidated EBITDA to Net Result
FROM CONSOLIDATED EBITDA TO NET RESULT (€ mln) FY2019a-b FY2020a-b D • Despite Covid 19 economic effects, EBITDA 602 684 82 Edison’s performance from continuing Depreciation, amortization and writedowns (391) (387) 4 operations was quite resilient in FY2020. of which: writedowns (33) (35) c) d (2) •
Slide 12: Net Financial Debt and Cash Flow
NET FINANCIAL DEBT AND CASH FLOW (€ mln) NET FINANCIAL DEBT NET CASH FLOW OF THE YEAR (€ mln) a) b) (a) c) Net financial debt is stable at 513 million euros reflecting a positive business performance, the sale of discontinued operations and dynamism in investments. Edison has made significant progre
Slide 13: Statement
STATEMENT As required by Article 154-bis, Section 2, of the Uniform Finance Law (Legislative Decree No 58/1998), Didier Calvez and Roberto Buccelli, in their capacity as “Dirigenti preposti alla redazione dei documenti contabili societari” of Edison S.p.A., attest that the accounting information con