Evn Ag · VIE:EVN
Evn — HY. 1 2023/24 Earnings Presentation
17 slides from Evn's earnings presentation, May 29, 2024
Slide 1: EVN conference call HY. 1 2023/24 results
EVN conference call HY. 1 2023/24 results 29 May 2024
Slide 2: Highlights HY. 1 2023/24
Highlights HY. 1 2023/24 Solid business development in HY. 1 2023/24 Significantly mild weather conditions in all three markets Increase in electricity production from renewables due to favourable wind and water conditions Changes in consumer behaviour including a shift towards prosumers D
Slide 3: Key financials HY. 1 2023/24
Key financials HY. 1 2023/24 HY. 1 2023/24 +/– • Decline in revenue EURm % Revenue 1,805.1 -17.7 Lower valuation effects from hedges caused by downward trend in wholesale EBITDA 453.0 -2.9 prices in Austria Depreciation and amortisation -171.3 -5.3 Effects from impairment tests -0.1 - Reduced us
Slide 4: Solid balance sheet structure
Solid balance sheet structure Strong balance sheet is the basis for EVN’s ambitious investment programme Net debt roughly at the level of balance sheet date 30.09.2023 EVN’s ratings with Moody’s (A1, stable) and Scope (A+, stable) recently reconfirmed Conference call HY. 1 2023/24 results 4
Slide 5: Energy
Energy Sales volumes to HY. 1 2023/24 +/– • Drop in electricity, natural gas and heat sales end customers GWh % volumes 1) Electricity 3,457 -17.4 1) 2,414 -26.6 Significantly warmer temperatures y-o-y Natural gas Heat 1,293 -13.1 Demanding framework conditions for sales company EVN KG: growing
Slide 6: Renewable generation
Renewable generation HY. 1 2023/24 +/– • Electricity generation above prior year level Electricity generation volumes GWh % Total 1,410 18.1 Y-o-y increase in renewable energy generation driven by good Renewable energy sources 1,281 33.6 wind and water conditions combined with capacity expansion T
Slide 7: Remuneration structure of EVN's wind portfolio
Remuneration structure of EVN‘s wind portfolio 478 MW installed wind capacity (as of 31.03.2024) Market premiums (floor) Range from EUR 70-85 per MWh Tenor of support scheme: 20 years 23% Fixed feed-in tariffs 47% Range from EUR 81-95 per MWh Tenor of support scheme: 13 years 30% Merchant
Slide 8: Networks
Networks Network distribution HY. 1 2023/24 +/– • Decline in electricity and natural gas network volumes GWh % sales volumes Electricity 4,147 -2.7 1) 7,555 -6.8 Warmer temperatures y-o-y as well as consumers‘ energy saving Natural gas efforts and expansion of customer-operated PV equipment Lowe
Slide 9: South East Europe
South East Europe Key energy business HY. 1 2023/24 +/– • Electricity generation volumes lower y-o-y indicators GWh % Water flows in North Macedonia above long-term average but below Electricity generation volumes 234 -7.5 Network distribution volumes 7,678 4.1 prior year Electricity sales volumes
Slide 10: Environment
Environment HY. 1 2023/24 +/– • Decrease in EBITDA, EBIT and result before Financial performance EURm % income tax Revenue 209.3 -21.8 EBITDA 10.6 -70.1 Completion of wastewater treatment plant in Kuwait as main EBIT -1.2 - impact for decline in revenue and operating expenses Financial results -13
Slide 11: Cash flows
Cash flows HY. 1 2023/24 +/– • Lower gross cash flow EURm in % Lower earnings recorded in the reporting period Gross cash flow 518.3 -18.3 Net cash flow from operating activities 414.9 - Non-cash earnings components Net cash flow from investing activities 49.7 - Net cash flow from financing acti
Slide 12: Outlook for 2023/24 financial year confirmed
Outlook for 2023/24 financial year confirmed Group net result for 2023/24 is expected to range from EUR 420m to EUR 460m Under the assumption of a stable regulatory and energy policy environment Earnings contribution from Verbund at the amount of 182 million euros EVN’s dividend policy refle
Slide 13: Appendix
EVN Appendix
Slide 14: Regulated business in Austria
Regulated business in Austria Network Electricity Natural gas Comments Regulatory authority Start of the regulatory period 01.01.2024 01.01.2023 Next regulatory adjustment 01.01.2029 01.01.2028 Adjustment of WACC and productivity factors Duration of the regulatory period 5 years 5 years Regulatory m
Slide 15: Segment outlook for 2023/24
Segment outlook for 2023/24 Previous outlook as of 14th December 2023; Adjusted outlook as of 29th May 2024 Conference call HY. 1 2023/24 results 15
Slide 16: Contact details
Contact details • Stefan Szyszkowitz, CEO • Information on the internet www.evn.at • IR contact partners: www.investor.evn.at Karin Krammer www.responsibility.evn.at Doris Lohwasser Matthias Neumüller • Headquarters of EVN AG Gerald Reidinger EVN Platz 2344 Maria Enzersdorf • IR cont
Slide 17: Disclaimer
Disclaimer Certain statements made in this presentation may constitute „Forward-Looking Statements” within the meaning of the U.S. federal securities law. Forward-looking information is subject to various known and unknown risks and uncertainties. These include statements concerning our expectations