Slide 1: Driving the Energy Transition
Driving the Energy Transition Financial Results Full Year 2024 Investor presentation May 6th 2025 ADMIE Holding 2023 – Financial Results Full Year 2023
Slide 2: Disclaimer
Disclaimer This document contains forward-looking statements that involve risks and uncertainties. These statements may generally, but not always, be identified by the use of words such as “outlook”, “guidance”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “target” and similar expressions to
Slide 3: Highlights ADMIE Holding
Highlights ADMIE Holding Lilian Filips Investor Relations Director Overview ADMIE HOLDING ADMIE Holding 2023 – Financial Results Full Year 2023
Slide 4: ADMIE Holding Overview
ADMIE Holding Overview 2020 2021 2022 2023 2024 Holds 51% of the Hellenic Electricity Net Income (m) 44.1 40.1 29.4 61.7 75.1 Transmission System Operator (IPTO) Dividend 0.12 0.103 0.068 0.058 0.18e Purpose: Market cap: EUR 691.4 million* To provide operational support to IPTO’s activities by offer
Slide 5: ADMIE Holding 2024 Financial Highlights
ADMIE Holding 2024 Financial Highlights Amounts in €m INCOME 75.7 21.4% FY 2023: 62.3 OPEX 1.1 27.9% FY 2023: 0.9 NET PROFIT 75.1 21.7% FY 2023: 61.7 CASH 21 289% FY 2023 :5.4 ROCE 9.72% 11.5% FY 2023: 8.72% 5 ADMIE Holding 2024 – Financial Results Full Year 2024
Slide 6: Highlights IPTO S.A.
Highlights IPTO S.A. Prokopis Mavronas Financial and Accounting Services Director IPTO Financial results 2024 ADMIE Holding 2023 – Financial Results Full Year 2023
Slide 7: IPTO GROUP FY24 financials
IPTO GROUP FY24 financials Total Revenue increased by 19.5%, to €468.2m., Profit & Loss Statement driven by the revenue from Transmission System €m 31.12.2024 31.12.2023 Chg % Rent, which increased by 18.3% to €434.5m as a result of the increase in interconnection rights, 434.5 367.4 18.3% of a slig
Slide 8: Electricity Demand & Supply for FY 2024
Electricity Demand & Supply for FY 2024 Production & Interconnection Mix Key figures 6% 10,2% 12,4% • FY’24 Total Market Demand reached 51.8 TWh, + 4.7% y-o-y 11,8% 39% • Renewable energy 33,3% contribution reached 55% 55.3% in Dec’24 • Net imports at 5.7 TWh; 32,3% net exports shaped at 6.01 TWh Li
Slide 9: IPTO Capex
IPTO Capex €m System stability and Fiber optics; 4M capitalised control; 6M interest; 27M Dodecanissa Crete - Attica interconnection; interconnection 5M (incl.ARIADNE); 253M Other projects; 165M Capital investment: EUR 731.8 FY22: EUR 335 +9.6% Cyclades interconnection; 129M Greece – Cyprus intercon
Slide 10: IPTO Cash Flow & Financial Performance ratios
IPTO Cash Flow & Financial Performance ratios Key figures: Cash Flow evolution (€m): Net Debt € 1,047.6 m vs € 950.5m in 2023 350 245,7 264,4 227,4 250 Leverage 150 3.2 Net Debt/ EBITDA 50 Coverage ratio -50 -7 10.4 x Interest coverage ratio* -150 *EBIT/Interest expense -250 -275,7 -350 Leverage Cas
Slide 11: Updated Regulatory Figures
Updated Regulatory Figures WACC according to RAEWW’s Decision E-102/2023 on Regulatory Period 2023-25 WACC (pre-tax nominal) 2022 2023 2024 2025 6.10% 7.57% 7.51% 7.45% Special RAB (for PMI - by 2025) RAB Allowed Revenue (by 2025) (in 2025) € 835 million* € 2.846 million € 488.9 million with 1% WACC
Slide 12: WACC calculation
WACC calculation On 20.07.2023 the Energy Sector of WACC components 2025 RAEWW released its decision regarding the approval of the revised return Risk-free 2.36% (WACC) on the Regulated Asset Base of the Affiliate IPTO S.A. The return for the Market risk 5.5% years 2023-2025 of the Regulatory Period
Slide 13: IPTO Investment Program progress
IPTO Investment Program progress ADMIE Holding 2023 – Financial Results Full Year 2023
Slide 14: Major Projects 2025-2031
Major Projects 2025-2031 Cyclades Phase D 2025 2026 2028-2029 2028-2030 2031 North Aegean Greece-Italy Crete Peloponnese Dodecanese Phase II Corridor B’ Phase I-II Interconnection Interconnection Phase I-III 14 ADMIE Holding 2024 – Financial Results Full Year 2024
Slide 15: Major Projects 2025-2031
Major Projects 2025-2031 Major Project Locations Total Capex Greece-Italy Interconnection 4 5 €6.1bn Expected Commissioning: 2031 Remaining capex: €603m North Aegean Interconnection Expected Commissioning : 2030 Remaining capex: €1.2bn Second 400 kV branch to Peloponnese (Megalopoli - Korinthos - Ko
Slide 16: Key milestones in 2024
Key milestones in 2024 Ariadne Interconnection Ariadne Interconnection Interconnection of Cyclades • After the laying of the entire submarine electric (500kV) and • The fourth and final phase of the Cyclades electrical optical cables of the Crete - Attica interconnection, the land interconnection co
Slide 17: Key milestones in 2024
Key milestones in 2024 Dodecanese and Northeast Upgrading of the Eastern Ariadne Interconnection Aegean islands Koumoundourou Peloponnese Great Sea Interconnection interconnections EHV S/S Corridor Greece-Cyprus-Israel • Kos, Rhodes and Karpathos will be connected to • The implementation of the new
Slide 18: International Interconnection Plans
International Interconnection Plans 2nd interconnection with Italy Interconnection with Egypt 2nd interconnection with Albania Cooperation with the Operator of Egypt (EETC – Interconnection between Greece and Italy, with total Egyptian Electricity Transmission Company) and Greece - Albania interconn
Slide 19: Key takeaways
Key takeaways ➢ 2024 results posted substantial revenue growth and profitability driven by continuing execution of IPTO’s investments and asset base. ➢ The investment plan of EUR 6.1bn is on track with major projects under development. The operator’s objective to drive the energy transition is succe
Slide 20: Appendices
Appendices ADMIE Holding 2023 – Financial Results Full Year 2023
Slide 21: ADMIE Holding Balance Sheet and Cash flow summary
Appendix 1 ADMIE Holding Balance Sheet and Cash flow summary Amounts in €’m Balance sheet 31.12.2024 31.12.2023 Cash flows 31.12.2024 31.12.2023 Non-current assets 746.0 699.5 CF from Operations -1.0 -0.9 Current assets 21.9 5.9 of which: Cash & equiv. 21.0 5.4 CF from Investing 30.2 15.1 Total Asse
Slide 22: IPTO Group Balance Sheet and Cash flow summary
Appendix 2 IPTO Group Balance Sheet and Cash flow summary Amounts in €’m Group Balance sheet Cash flows 31.12.2024 31.12.2023 31.12.2024 31.12.2023 Non-current assets 3,961.3 3,357.0 CF from Operations 264.4 383.8 Current assets 398.2 441.9 Of which: Cash & equiv. 227.4 245.7 Total Assets 4,359.5 3,
Slide 23: IPTO Group FY24 EBIT evolution
Appendix 3 IPTO Group FY24 EBIT evolution Key figures EBT before Financials (€m) Revenue 21.9% Combined effect due to increase of Revenues from transmission system rent (net), Revenue from 260,0 Balancing Market, Revenue from interconnection 76,3 rights (ITC) and Revenue from other operations 240,0
Slide 24: Contact
Contact For additional information please contact ADMIE Holding Investor Relations: Lilian Filips Head of IR Tel: +30 210 3636 936 E-mail: l.filips@admieholding.gr ADMIE Holding 2023 – Financial Results Full Year 2023