Hera S.p.a. · MIL:HER

Hera — Q1 2012 Earnings Presentation

11 slides from Hera's earnings presentation, May 15, 2012

  1. Slide 1: Hera Group Q1 results

    Hera Group Q1 results Analyst presentation 15th May 2012 www.gruppohera.it

  2. Slide 2: Q1 2012: in line with last year results despite all

    Q1 2012: in line with last year results despite all Q1 Result Highlights Hera unique business mix proven to +21.4% +0.2% effectively tackle with Italian recession confirming last year results. +28.7% +0.1% 224 225 +34.6% (2.3%) Performance in operations helped 151 151 123 +40.6% (2.2%) compensate hi

  3. Slide 3: Q1 '12: solid bottom line results

    Q1 ’12: solid bottom line results Tariffs, energy prices and market expansion Higher financial charges mainly due to increase in debt and credit spreads Tax increased due to higher profits of energy activities and additional Robin tax and IRAP (+2.5m€). 2

  4. Slide 4: Ebitda growth offsets end of Cip6 incentives

    Ebitda growth offsets end of Cip6 incentives Ebitda growth Drivers Ebitda slightly ahead of ’11 outstanding results +1.0 224.7 • Growth fuelled by gas supply. 224.3 +4.3 (4.9) • Market expansion progressing reaching 500k costumers in electricity at the end of March. • M&A relates to Sadori Gas (July

  5. Slide 5: Positive operating cash flows and stable net debt

    Positive operating cash flows and stable net debt Q1 2012 cash flows Q1 ’12 cash generation fully funded 160 seasonal effects on working capital and capex. +129.6 110 M&A mainly relates to acquisition of 4 solar (58.9) plants and the majority stake in a landfill in Modena (Feronia). 60 (55.6) Stable

  6. Slide 6: Waste: tackling with recession and extraordinary factors

    Waste: tackling with recession and extraordinary factors Financial highlights Revenues mainly affected by recession impacts on volumes. EBITDA negatively affected by extraordinary factors: • Expired Cip6 incentive on FEA plant (~5m€). • Intensive snow falls in February reduced plant availability, co

  7. Slide 7: Water: tariff progression and volume increase underpinned results

    Water: tariff progression and volume increase underpinned results Financial highlights Revenues growth, mainly driven by tariffs increase. Volume change affected by unusual weather conditions in Q1 ’12. ATO contracts in force until the end of Volumes the year on ~50% of areas served and until 2014/2

  8. Slide 8: Gas: strong growth in spite of mild March

    Gas: strong growth in spite of mild March Financial highlights Revenues growth mainly driven by higher commodity prices and additional volumes traded. Volumes sold to final clients increased thanks to increase in costumer base, more than offsetting mild winter season in March. Trading activities exp

  9. Slide 9: Electricity: market expansion continues

    Electricity: market expansion continues Financial highlights Revenues growth mainly driven by higher commodity prices and volumes (related to further market expansion) more than compensating recession effects on demand (-3.7% electricity distributed). Good commercial performance also in Marche regio

  10. Slide 10: Closing remarks

    Closing remarks Q1 Results Highlights A “complicate” quarter turn out with confirming results compared with outstanding Q1 2011 despite one offs impact +21.4% +0.2% and enhanced taxes. Performance in April show a recovery of low March gas sales and further trading +28.7% +0.1% opportunities. 225 224

  11. Slide 11: Q&A session

    Q&A session

Hera Group — Q1 2012 Earnings Presentation on 6ix