Ascopiave S.p.a. · MIL:ASC
Ascopiave — 9M 2016 Earnings Presentation
33 slides from Ascopiave's earnings presentation, Nov 11, 2016
Slide 1: 9M 2016 Consolidated Results Conference Call
Gruppo 9M 2016 CONSOLIDATED RESULTS Conference Call Pieve di Soligo, 11th November 2016 1
Slide 2: Contents
Contents CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Financial highlights → Ascopiave Group structure as of 30th September 2016 → 9M 2016 consolidated income statement → Consolidated balance sheet as of 30th September 2016 Operating data Revenues and EBITDA Gross
Slide 3: Ascopiave Group structure as of 30th September 2016
Ascopiave Group structure as of 30th September 2016 CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 100% 89% 100% 51% 100% 100% 48,86% 48,999% 49% Companies consolidated with net equity consolidation method: 100% Since year of registration: Sinergie Italiane 100% Fro
Slide 4: 9M 2016 consolidated income statement
9M 2016 consolidated income statement CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 (Thousand of Euro) 9M 2016 9M 2015 Chg Chg % Revenues 353.337 413.413 (60.075) -14,5% (Cost of raw materials and consumables) (184.009) (252.972) 68.963 -27,3% (Cost of services) (7
Slide 5: Consolidated balance sheet as of 30th September 2016
Consolidated balance sheet as of 30th September 2016 CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 (Thousand of Euro) 30/09/2016 31/12/2015 Chg Chg % Tangible assets (*) 32.560 34.987 (2.427) -6,9% Non tangible assets (*) 396.913 397.418 (504) -0,1% Investments in
Slide 6: Contents
Contents CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Financial highlights Operating data → Volumes of gas distributed → Volumes of gas sold → Volumes of electricity sold Revenues and EBITDA Gross margin on gas and electricity sales and other operating costs Perso
Slide 7: Volumes of gas distributed
Volumes of gas distributed CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Volumes of gas distributed (Million of standard cubic meters) ∆ = +1,9 ∆ = -0,2 +0,4% -0,4% Companies consolidated Companies consolidated with full consolidation method with net equity consoli
Slide 8: Volumes of gas sold
Volumes of gas sold CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Volumes of gas sold (Million of standard cubic meters) ∆ = -13,7 ∆ = -6,9 -2,5% -7,5% Companies consolidated Companies consolidated with full consolidation method with net equity consolidation method
Slide 9: Volumes of electricity sold
Volumes of electricity sold CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Volumes of electricity sold (GWh) ∆ = -22,5 ∆ = -7,7 -8,3% -16,3% Companies consolidated Companies consolidated with full consolidation method with net equity consolidation method (*) (*) Dat
Slide 10: Contents
Contents CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Financial highlights Operating data Revenues and EBITDA → Revenues bridge → EBITDA bridge → EBITDA breakdown Gross margin on gas and electricity sales and other net operating costs Personnel Capex Net financial
Slide 11: Revenues bridge (1)
Revenues bridge (1) CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Revenues bridge Companies consolidated with full consolidation method (Thousand of Euro) ∆ = -60.075 -14,5% 11
Slide 12: Revenues bridge (2)
Revenues bridge (2) CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Revenues bridge Companies consolidated with net equity consolidation method (*) (Thousand of Euro) ∆ = -6.586 -11,6% (*) Sinergie Italiane excluded. 12
Slide 13: EBITDA bridge (1)
EBITDA bridge (1) CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 EBITDA bridge Companies consolidated with full consolidation method (Thousand of Euro) ∆ =+9.365 +18,0% 13
Slide 14: EBITDA bridge (2)
EBITDA bridge (2) CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 EBITDA bridge Companies consolidated with net equity consolidation method (*) (Thousand of Euro) ∆ = +1.019 +13,4% (*) Sinergie Italiane excluded. 14
Slide 15: EBITDA breakdown (1)
EBITDA breakdown (1) CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 EBITDA breakdown Companies consolidated with full consolidation method (Thousand of Euro) (Thousand of Euro) 9M 2016 9M 2015 Var Var % EBITDA 61.477 52.113 9.365 +18,0% EBITDA - Sale 34.141 25.967 8
Slide 16: EBITDA breakdown (2)
EBITDA breakdown (2) CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 EBITDA breakdown Companies consolidated with net equity consolidation method (*) (Thousand of Euro) (Thousand of Euro) 9M 2016 9M 2015 Var Var % EBITDA 8.640 7.621 1.019 +13,4% EBITDA - Sale 6.269 5
Slide 17: Contents
Contents CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Financial highlights Operating data Revenues and EBITDA Gross margin on gas and electricity sales and other net operating costs → Gross margin on gas sales → Gross margin on electricity sales → Gas distribution
Slide 18: Gross margin on gas sales
Gross margin on gas sales CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 (Thousand of Euro) (*) 9M 2016 9M 2015 Chg Chg % Revenues from gas sales 234.691 276.776 (42.085) -15,2% (Gas purchase costs) (132.622) (179.640) 47.018 -26,2% (Distribution costs) (55.308) (57
Slide 19: Gross margin on electricity sales
Gross margin on electricity sales CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 (Thousand of Euro) (*) 9M 2016 9M 2015 Chg Chg % Revenues from elecricity sales 65.604 69.615 (4.011) -5,8% (Electricity purchase costs) (34.410) (38.323) 3.913 -10,2% (Distribution cos
Slide 20: Gas distribution tariff revenues
Gas distribution tariff revenues CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 (Thousand of Euro) (*) 9M 2016 9M 2015 Chg Chg % Tariffs applied to sales companies 38.044 36.776 1.268 +3,4% Equalization amount (+ / -) 8.155 9.269 (1.114) -12,0% Gas distribution tari
Slide 21: Other net operating costs (1)
Other net operating costs (1) CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 (Thousand of Euro) 9M 2016 9M 2015 Chg Chg % Other revenues 20.862 15.261 5.601 +36,7% Other costs of raw materials and services (41.039) (35.087) (5.952) +17,0% Cost of personnel (16.043)
Slide 22: Other operating costs (2)
Other operating costs (2) CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 (Thousand of Euro) 9M 2016 9M 2015 Chg Chg % Other net operating costs (A) Company consolidated with full (36.221) (35.925) (296) +0,8% consolidation method Other net operating costs (B) Compan
Slide 23: Contents
Contents CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Financial highlights Operating data Revenues and EBITDA Gross margin on gas and electricity sales and other net operating costs Personnel → Number of employees → Consolidated cost of personnel Capex Net financi
Slide 24: Number of employees
Number of employees CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Number of employees ∆ = +3 ∆ = +2 +0,6% +3,0% Companies consolidated Companies consolidated with full consolidation method with net equity consolidation method (*) (*) Data are considered pro-quota.
Slide 25: Consolidated cost of personnel
Consolidated cost of personnel CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Consolidated cost of personnel (Thousand of Euro) ∆ = -55 -0,3% Cost of personnel changes: capitalized cost of personnel: - Euro 0,5 mln other: + Euro 0,5 mln 9M 2016 cost of personnel of
Slide 26: Contents
Contents CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Financial highlights Operating data Revenues and EBITDA Gross margin on gas and electricity sales and other net operating costs Personnel Capex Net financial position and cash flow Disclaimer 26
Slide 27: Capex
Capex CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Consolidated capex (*) (Thousand of Euro) ∆ = +1.938 +15,7% (**) Gas distribution systems: Euro 8,4 mln Gas meters: Euro 4,4 mln Other: Euro 1,5 mln 9M 2016 investments of the companies consolidated with net equit
Slide 28: Contents
Contents CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Financial highlights Operating data Revenues and EBITDA Gross margin on gas and electricity sales and other net operating costs Personnel Capex Net financial position and cash flow Disclaimer 28
Slide 29: Net financial position and cash flow (1)
Net financial position and cash flow (1) CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Net Financial Position and cash flow Companies consolidated with full consolidation method (Thousand of Euro) (*) ∆ = +51.052 -44,8% (*) Dividends distributed to Ascopiave shareh
Slide 30: Net financial position and cash flow (2)
Net financial position and cash flow (2) CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Net Financial Position and cash flow Companies consolidated with net equity consolidation method (*) (Thousand of Euro) ∆ = +4.463 +322,3% (*) Sinergie Italiane excluded. 30
Slide 31: Net financial position and cash flow (3)
Net financial position and cash flow (3) CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 (Thousand of Euro) (*) 30/09/2016 31/12/2015 Var Var % Long term financial borrowings (>12 months) 37.399 43.829 (6.430) -14,7% Current position of long term financial borrowings
Slide 32: Contents
Contents CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 Financial highlights Operating data Revenues and EBITDA Gross margin on gas and electricity activities and other net operating costs Personnel Capex Net Financial Position and cash flow Disclaimer 32
Slide 33: Disclaimer
Disclaimer CONFERENCE CALL 9M 2016 consolidated results Pieve di Soligo, 11th November 2016 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