Gas Plus S.p.a. · MIL:GSP
Gas Plus — FY2020 Earnings Presentation
15 slides from Gas Plus's earnings presentation, Apr 21, 2021
Slide 1: Analyst Presentation FY 2020 Financial Results
Gas Plus Group Analyst Presentation FY 2020 Financial Results April 21st, 2021* * This document is updated on 6 months basis, occurring after 31 December and 30 June 0closing
Slide 2: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS 1
Slide 3: Market Scenario
Market Scenario TTF Gas Price – Day Ahead TTF Gas TTF vs VTP Romania GasPrice – Quarter Price* – DayAhead Ahead, since July ‘20 Brent TTF Price– Quarter Gas Price – Month+1 Ahead TTF Gas €/$ Price – Quarter Exchange Rate -Ahead Spot (*) source: BRM; in July 2020 the legal market framework in Romania
Slide 4: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS 3
Slide 5: Highlights
Highlights E&P Italian Activities ✓ Near break-even economic result in terms of EBITDA, despite the collapse in sales prices of natural gas (- 39%) and oil (- 43%) compared to 2019 due to the Covid-19 pandemic, the reduction of production volumes (- 11%), also due to the suspension of productions th
Slide 6: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS E&P RETAIL NETWORK & TRANSPORTATION GROUP FINANCIAL RESULTS COMPANY PROFILE 5
Slide 7: Financial Results: E&P
Financial Results: E&P FY 2020 P&L - E&P contribution ➢ 2020 Results: ▪ Pandemic effect: E&P (MScme) FY20 FY19 ∆ (%) ― actions taken, since the end of February, to implement special measures to protect our people and operational activities ― exceptionally drastic reduction of energy price scenario d
Slide 8: Financial Results: Retail
Financial Results: Retail ▪ The EBITDA decreased as a consequence of: TTF GasP&L Price -– Retail Quarter Ahead ‐ Sharp decline of gas prices between 2019 and 2020, partly mitigated by a carefully planned hedging strategy FY 2020 FY 2019 ‐ Non-recurring item affecting the results of the 2020 fiscal y
Slide 9: Financial Results: Network & Transportation
Financial Results: Network & Transportation ▪ Increase in EBITDA from results of the TTF Gas Price –(GP FY 2020 P&L – Network Contribution Quarter Ahead Infrastrutture – Rete Gas Fidenza) entire year of the Rete Gas Fidenza Srl (RGF), the entity operating in the gas distribution in the Municipality
Slide 10: Financial Results: Group P&L
Financial Results ▪ Revenues decline mostly due to exceptional drop of energy prices related to Covid-19 (in Italy gas price decreased by 35,5% in FY 2020 vs FY FYGas TTF 2020 Price––Group QuarterP&L Ahead 2019 to 10,9 c€/smc) ▪ Operating costs decreased mainly 93,5 due to the reduction of gas purch
Slide 11: Financial Results: EBITDA and Net Result Evolution
Financial Results TTF Gas EBITDA Price – Quarter Breakdown by Ahead BU (M€) TTFNet Group Gas Price Result– Quarter Ahead(M€) Evolution 21.8 10.1 78,7 6,8 -0,6 -11,7 -0,3 -1,8 6,9 -34,2 4,8 10,4 7,6 -98,5 -2,3 -0,6 -1,7 FY 19 EBITDA D&A Financial Other Taxes FY 20 FY 19 FY 20 Charges E&P Network Reta
Slide 12: Financial Results: Group Balance Sheet
Financial Results DecemberTTF 31, 2020 Gas Price –– Quarter Group Ahead Balance Sheet Dec 31, Dec 31, Group (M€) ∆ (%) 2020 2019 ▪ Limited investment in Working Inventories 3.2 3.5 (8.6%) Capital broadly in line with FY2019 Receivables 24.1 25.9 (6.9%) ▪ Significant decrease in Non Current Payables
Slide 13: Financial Results: NFP Trend
Financial Results: NFP Trend TTFNFP Group Gas Price – Quarter Historical Ahead(M€) Trend 250,6 212,9 150,5 98,6 85,9 ▪ NFP remains at low levels, with an 71,2 53,0 52,5 66 increase in FY 2020 due to 41,1 42 investments (from FY2019 onwards it also includes also the effects of IFRS Dec 10 Dec 11 Dec
Slide 14: Company Profile
Company Profile Shareholding as at 30 June2019 Share information Share price performance 7.57% 2.98% N. of share: 44,909,620 Share price as of 31.12.2020: € 1.86 15.51% Share price as of 20.04.2021: € 1.91 Mkt cap 31.12.2020: € 83,5 million 73.94% Italian Stock Exchange – segment MTA Own shares as o
Slide 15: Disclaimer
Disclaimer This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Gas Plus. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are state