Slide 1: Delivering on our targets
Delivering on our targets Analyst Presentation, 24th March 2011 1
Slide 2: 2010 results at a glance
2010 results at a glance Performance beyond commitments thanks to business position achieved Confirmed Ebitda growth in all 2010 Ebitda from organic growth drivers (m€) business areas (+40m€) Energy strategic area lead growth +40m€ with a contribution of +26m€ 607 achieved by commercial & trading 56
Slide 3: 2010 results positive
2010 results positive Profit and Loss (m€) Lower energy trading 2009 2010 Ch. Ch.% activities partially off set by market expansion Revenues 4,436.0 3,877.3 (558.7) (12.6%) 2009 affected by and tariff increases. Operat. costs (3,580.6) (2,990.0) +590.6 (16.5%) one off provision Personnel (352.0) (36
Slide 4: Best organic growth ever driving 2010 results
Best organic growth ever driving 2010 results Ebitda drivers Ebitda by strategic areas (m€) (m€) +8 607 567 607 +48 16 6 00 21 567 195 +4% 187 (16) 278 290 +4% 106 +33% 80 2009 2010 ENERGY NETWORKS WASTE OTHER 4 00 Portfolio mix 2009 2009 Org. G. New 2010 One off & Syn. plants 50% REGULATED 50% LIBE
Slide 5: Waste volumes back to pre-crisis levels
Waste volumes back to pre-crisis levels 2010 results Rimini WTE started June 2010 (m€) (Green Certificate incentive from March 2011) 2009 % 2010 % Ch. % Revenues 642.1 100.0% 703.1 100.0% +9.5% +8.5% electricity produced Operat. costs (334.7) (52.1%) (386.0) (54.9%) +15.3% (up to 530 GWh) Personnel
Slide 6: Water results driven by tariff increases and efficiency gains
Water results driven by tariff increases and efficiency gains 2010 results (m€) Higher tariffs (+5%) partially offset by lower volumes affected by weather 2009 % 2010 % Ch. % conditions in summer and fewer new Revenues 583.7 100.0% 579.2 100.0% (0.8%) connections. Operat. costs (356.1) (61.0%) (344.
Slide 7: Gas business benefits from cold winter and procurement optimization
Gas business benefits from cold winter and procurement optimization 2010 results Lower commodity prices affect sales (m€) Volume distributed up by +7.3% in line with 2009 % 2010 % Ch. % market whilst sale volumes benefited from thermal conditions and supply to large Revenues 1,290.7 100.0% 1,237.1 1
Slide 8: Electricity market expansion progressing well
Electricity market expansion progressing well 2010 results Revenues affected by low energy prices and (m€) trading Sales volume up by +10% to 7.7TWh 2009 % 2010 % Ch. % +47k growth (+14.1%) in customer base Revenues 2,032.5 100.0% 1,468.3 100.0% (27.8%) (supported by 6,500 new acquisition/month). Op
Slide 9: Capex reduction trend confirmed
Capex reduction trend confirmed 2010 Capex and Investments Declining capex trend confirmed (m€) 87m€ decrease in line with business plan. 2009 2010 Development capex above 100m€. Waste 119.1 98.7 Water 105.4 94.2 Gas 64.1 48.8 Electricity 37.9 39.0 Other 12.0 13.3 Holding 54.0 51.8 Waste: €49m relat
Slide 10: Positive operating cash flows
Positive operating cash flows Net Financial Debts (m€) Net Debt improved by 31m€ 31/12/09 31/12/10 In spite 97m€ dividend* and 2010 development As of Jan. 1 (1,571.5) (1,891.8) capex Operating CF (169.5) +28.6 Other debt changes (150.7) +3.1 As of Dec. 31 (1,891.8) (1,860.2) 2010 Operating cash flow
Slide 11: Delivering on our targets: 5y business plan targets achievements
Delivering on our targets 5y Business plan targets Achievements Ebitda growth by 36.6m€ avg. per year Enhancement of Net Profits +40m€ (607m€) +46m€ (117m€) ✔ Capex reduction to an avg of 340m€ per year 342 m€ (-87m€) ✔ Positive operating cash flows from 2010 +28.6 m€ ✔ Dividend increase 9€c (+12.5%
Slide 12: Q&A
Q&A 12