Slide 1: 9M 2024 Results
9M 2024 Results ROME, 14 NOVEMBER 2024 People for sustainable 0 infrastructure
Slide 2: Agenda
Agenda Market Environment 9M 2024 Results Appendix 1
Slide 3: Regulatory and Market Environment
REGULATORY AND MARKET ENVIRONMENT D O W N T U R N I N T H E P R I C E O F C O M M O D I T I E S , N E W R E G U L AT O RY P E R I O D TA R I F F A P P R O V A L S U N D E R W AY Regulation Commodity prices and Inflation Interest rates (2) • Water: application of Water Service Tariff Method 4 (MTI-4,
Slide 4: Agenda
Agenda Market Environment 9M 2024 Results Appendix 3
Slide 5: 9M 2024 Highlights
9M 2024 Highlights G R O W I N G R E S U LT S , F U RT H E R I M P R O V I N G C O M P A R E D T O H 1 2 0 2 4 Group revenues of €3.1bn, of which approximately €1.9bn related to regulated businesses, Revenues +7% vs. 2023 up by approximately 7% compared to 2023, mainly due to the investments carried
Slide 6: Overview of 9M 2024 Results
OVERVIEW OF 9M 2024 RESULTS ECONOMIC AND FINANCIAL SOLIDITY EBITDA, €m CAPEX, €m Non-recurring events and changes in scope Grant-funded REVENUES1 3,380 3,107 Focus on regulated businesses, 952 which account for approximately 86% 1,161 783 1,006 50 123 of the Group’s EBITDA and 90% of 31 0 +123 +96 c
Slide 7: 2024 Guidance
2024 GUIDANCE U P WA R D R E V I S I O N Previous 2024 New 2024 Guidance Guidance +3%/5% +7%/+9% MAIN DRIVERS: E B I T DA vs 2023 vs 2023 ➢ Higher margins and tariffs in the water sector N F P / E B I T DA ~3.5x ~3.4x ➢ Operational efficiencies Capex: Gross 1.5 bn€ CONFIRMED Net of subsidies 1.1
Slide 8: 9M 2024 EBITDA
9M 2024 EBITDA G R O W T H D R I V E N B Y O R G A N I C D E V E L O P M E N T O F R E G U L AT E D B U S I N E S S E S EBITDA, €m 6 1,161 55 31 124 327 618 WATER GRIDS AND PUBLIC ENVIRONMENT GENERATION COMMERCIAL OTHER 9M 2024 EBITDA ITALY LIGHTING BUSINESSES2 53% 28% 5% 3% 11% 0% (86%1) +12% 1,130
Slide 9: 9M 2024 Net Profit
9M 2024 NET PROFIT O P E R AT I O N A L M A N A G E M E N T D R I V E S T H E I N C R E A S E I N N E T P R O F I T NET PROFIT, €m +31% 285 274 11 2 63 209 209 0 9M 2023 Change in scope 9M 2023 Operational Financial 9M 2024 Change in scope and 9M 2024 Net profit and non-recurring recurring managemen
Slide 10: Capex 9M 2024
CAPEX 9M 2024 T H E I N V E S T M E N T P L A N C O N T I N U E S , W I T H F O C U S O N R E G U L AT E D B U S I N E S S E S CAPEX 1 , €m 952 16 48 19 76 224 569 60% 23% 8% 2% 5% 2% (91%3) WATER GRIDS AND PUBLIC ENVIRONMENT GENERATION COMMERCIAL OTHER BUSINESSES2 CAPEX 9M 2024 ITALY LIGHTING • REC
Slide 11: Cash Flow 9M 2024
CASH FLOW 9M 2024 P E R F O R M A N C E I N L I N E W I T H O U R E X P E C TAT I O N S , I M P R O V I N G V S 9 M 2 0 2 3 CASH FLOW, €m 9M 2024 Operating CF (-16€m) reflects the absorption of working capital mainly due to the regulatory items. 1,161 (134) 814 (829) (100) (113) (16) (100) (61) (187
Slide 12: 9M 2024 Financial Structure
9M 2024 FINANCIAL STRUCTURE L E V E R A G E S L I G H T LY I M P R O V I N G , A V E R A G E C O S T O F D E B T A R O U N D 2 % NFP FY 2023-9M 2024 €m Leverage DIC 23 9M 2024 ∆9M 24vs DIC 23 N E T D E B T / E B I T DA N E T D E B T / E B I T DA LT M 3 0 / 0 9 / 2 0 2 4 31/12/2023 NFP 4,847 5,232 38
Slide 13: Water Italy: Organic EBITDA Growth +13%
WATER ITALY1: ORGANIC EBITDA GROWTH +13% O R G A N I C G R O W T H D R I V E N B Y I N V E S T M E N T S A N D TA R I F F A P P R O VA L S Revenues, €m EBITDA, €m Non-recurring events and changes in scope +13% 618 Growing recurring EBITDA 1,161 597 21 528 69 (+€69m): 1,071 24 24 Tariff growth (+€74m
Slide 14: Grids and Public Lighting: Organic EBITDA Growth +15%
GRIDS AND PUBLIC LIGHTING: ORGANIC EBITDA GROWTH +15% O R G A N I C G R O W T H D R I V E N B Y R E G U L AT O RY U P D AT E S A N D I N V E S T M E N T S Revenues, €m EBITDA, €m 522 469 +15% Growing recurring EBITDA +53 322 327 (+€43m): 5 (+11%) 279 43 Increase in electricity distribution tariffs (
Slide 15: Environment: Growth in Investments
ENVIRONMENT: GROWTH IN INVESTMENTS M A RG I N S A F F E C T E D BY T H E E N E RG Y S C E N A R I O Revenues, €m Main EBITDA drivers, €m Non-recurring events and changes in scope -8% 248 247 228 Lower recurring EBITDA (-€5m): -11 63 58 Energy scenario (-€7m) (5) (3) 55 (-4%) 236 Higher margins from
Slide 16: Generation: Energy Scenario and Lower Volumes Produced
GENERATION: ENERGY SCENARIO AND LOWER VOLUMES PRODUCED M A RG I N S A F F E C T E D BY LOW E R H Y D RO E L E C T R I C VO L U M E S A N D T H E E N E RG Y S C E N A R I O Revenues, €m EBITDA, €m -31% 48 Lower recurring EBITDA (-€15m): 105 (15) 33 31 Lower prices on the energy 73 (2) markets (SNP -2
Slide 17: Commercial: Increasing EBITDA
COMMERCIAL: INCREASING EBITDA G ROW I N G M A RG I N S O N T H E F R E E M A R K E T Revenues, €m EBITDA, €m +51% 1,813 1,350 Increasing EBITDA (+€42m): 124 Increase in margins on the -463 82 42 free market (-26%) 9M 2023 9M 2024 9M 2023 Organic 9M 2024 growth Total electricity Number of electricity
Slide 18: Agenda
Agenda Market Environment 9M 2024 Results Appendix 17
Slide 19: Sustainability Rating (updated as at September 2024)
SUSTAINABILITY RATING (updated as at September 2024) 64/100 "EE+" "A-" "A" 55/100 Leadership 81,58/100 15,4 "Leader ESG B- ESG risk rating Identity" (status PRIME) 18
Slide 20: Consolidated Income Statement as at 30/09/24
CONSOLIDATED INCOME STATEMENT AS AT 30/09/24 Consolidated Income Statement (€/000) 30 September 2024 30 September 2023 Increase/(Decrease) Sales and service revenues 2,984,474 3,271,212 (286,739) Other operating income 122,870 108,882 13,988 Consolidated net revenue 3,107,343 3,380,094 (272,751) Sta
Slide 21: Consolidated Balance Sheet as at 30/09/24
CONSOLIDATED BALANCE SHEET AS AT 30/09/24 Consolidated Statement of Financial Position (€/000) 30 September 2024 31 December 2023 Increase/(Decrease) Property, plant and equipment 3,499,137 3,334,868 164,269 Investment property 1,951 1,990 (39) Goodwill 254,559 254,626 (67) Concessions and infrastru
Slide 22: Q&A 9M 2024 Results
Q& 9M 2024 Results Persone per infrastrutture sostenibili
Slide 23: Disclaimer
DISCLAIMER THIS PRESENTATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS THAT REFLECT THE CURRENT VIEWS OF THE MANAGEMENT WITH REGARD TO FUTURE EVENTS AND THE FINANCIAL AND OPERATIONAL PERFORMANCE OF THE COMPANY AND THE GROUP. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON CURRENT EXPECTATIONS AND PR