Hera S.p.A. · MIL:HER
Hera — 9M 2009 Earnings Presentation
12 slides from Hera's earnings presentation, Nov 12, 2009
Slide 1: First 9 months 2009 results
First 9 months 2009 results www.gruppohera.it
Slide 2: First 9 months 2009 Results – Analyst Presentation
First 9 months 2009 Results Analyst Presentation, 12th November 2009
Slide 3: Accelerating growth in Q3
Accelerating growth in Q3 > In first 9 months Ebitda moved to a > M&A activities progress in Q4 with double digit growth rate (+11.3%). the acquisition of 25% stake in Aimag. > Regulated activities were the main > Herambiente was short listed in a contributor (80% of 9m Ebitda organic competitive bi
Slide 4: First 9 months outstanding results despite economic slowdown
First 9 months outstanding results despite economic slowdown Mainly driven by Energy sales, M€ 9m '08 % 9m '09 % Ch.% trading development and higher Revenues* 2.603,1 100,0% 3.121,0 100,0% +19,9% commodity prices. Accounts 25 m€ of Organic Operat. costs (2.176,7) (83,6%) (2.627,4) (84,2%) +20,7% Gro
Slide 5: Organic growth achieved despite economic slowdown
Organic growth achieved despite economic slowdown Ebitda growth drivers (m€) +10,9 390,1 +28,8 Ebitda drivers 350,4 • Organic Growth (mainly regulated tariff progression and positive contribution from Gas marketing/trading) more than offset economic slowdown effects. • Organic Growth includes effect
Slide 6: Waste business: New capacity now on stream
Waste business: New capacity now on stream Ebitda M€ 9m '08 % 9m '09 % Ch. % Revenues 468.0 100.0% 480.3 100.0% +2.6% New WTE plants (Ferrara and Forlì) run at full Operat. costs (244.3) (52.2%) (257.0) (53.5%) +5.2% capacity and WTE Modena reached full capacity at Personnel (108.0) (23.1%) (106.6)
Slide 7: Water business: Tariff progression underpin growth
Water business: Tariff progression underpin growth Revenues M€ 9m '08 % 9m '09 % Ch. % Sales growth mainly driven by tariffs increase Revenues 340.3 100.0% 356.3 100.0% +4.7% (~5%) as agreed with Authorities. Operat. costs (264.4) (77.7%) (263.8) (74.0%) (0.2%) Personnel (77.5) (22.8%) (79.4) (22.3%
Slide 8: Gas business: Trading activities, commodity prices and asset expansion
Gas business: Trading activities, commodity prices and asset expansion Revenues Higher volumes sold mainly related to enhanced M€ 9m '08 % 9m '09 % Ch. % trading activities and increased commodity prices. Revenues 763.8 100.0% 907.8 100.0% +18.9% Better climate conditions helped to partially Operat.
Slide 9: Electricity business: Strong market expansion
Electricity business: Strong market expansion Revenues M€ 9m '08 % 9m '09 % Ch. % Sales increase underpinned by market expansion Revenues 1,083.1 100.0% 1,457.9 100.0% +34.6% (+21.7% final sales) and +44.5% trading revenues. Operat. costs (1,049.3) (96.9%) (1,425.5) (97.8%) +35.8% Personnel (16.3) (
Slide 10: Other services: Progression in results despite dismissions
Other services: Progression in results despite dismissions M€ 9m '08 % 9m '09 % Ch. % Revenues Revenues 57.1 100.0% 77.4 100.0% +35.6% Sales increase underpinned by good Operat. costs (34.3) (60.0%) (46.5) (60.1%) +35.7% performance of Public Lighting and of TLC Personnel (13.5) (23.6%) (17.6) (22.7
Slide 11: Capex and Net Financial Debt
Capex and Net Financial Debt Capex plan on schedule. M€ 9m '08 9m '09 ~35% relates to development Capex. Waste 92.0 86.2 Water 88.1 81.5 Waste: 52 m€ relates to new WTE plants. Gas 43.4 48.8 Electricity 31.6 27.7 Water: Capex compliant to ATO agreements, with some Other 4.0 9.2 reductions related to
Slide 12: Closing remarks
Closing remarks • Results reported highlight a solid and comfortable growth more than offsetting economic slowdown. • AGM held in October approved projects (LOC rationalisation, network acquisition from Municipals and the increase of the limit in voting rights for private shareholders up to 5%) incl