Hera S.p.A. · MIL:HER
Hera — FY2009 Earnings Presentation
12 slides from Hera's earnings presentation, Mar 29, 2010
Slide 1: Hera Group results
Hera Group results Analyst presentation 29th March, 2010
Slide 2: Overcome crisis with growing results
Overcome crisis with growing results Hera achieved positive growth despite assets and know how) was established to economic slown down through actions better exploit further market and M&A on both internal and external growth growth potentials (e.g. WTE drivers. infrastructural Gap in Italy). Li
Slide 3: Positive and growing bottom line (excl. Moratoria)
Positive and growing bottom line (excl. “Moratoria”) Profit and Loss Market expansion and tariff Benefitting from both reg. M€ 2008 2009 Ch.% increases offset slow down and liberalised businesses, of demand and prices. with Gas posting most Revenues 3,792.0 4,285.1 +13.0% relevant growth. Ebitda 528
Slide 4: Ebitda growth leveraging upon all growth drivers
Ebitda growth leveraging upon all growth drivers Ebitda Growth Drivers (M€) Consistent strategy underpin constant growth +14.6 567.3 M&A: relates to the acquisition of Gas and D.H. networks (16 m€ contribution relates to +8.4 +16.0 provision release). 528.3 Hera acquired also a first 25% stake of
Slide 5: Waste mkt trend turned positive
Waste mkt trend turned positive Profit and Loss New WTE plants run at full regime (+18% M€ 2008 2009 Ch. % production) reducing by 12% treatments in Revenues 632.1 642.4 +1.6% landfill. Operat. costs (328.0) (327.3) (0.2%) Personnel (142.1) (142.4) +0.2% Capitaliz. 24.2 14.5 (40.0%) WTE/biogas E
Slide 6: Tariff increase offset crisis
Tariff increase offset crisis Profit and Loss M€ 2008 2009 Ch. % Revenues 459.0 471.4 +2.7% Operat. costs (359.0) (264.5) (26.3%) Personnel (100.8) (104.7) +3.9% Tariff increase (+3.1%) as agreed with Capitaliz. 131.0 29.3 (77.6%) Authorities and slightly lower volumes Ebitda 130.2 131.4 +0.9% (-0
Slide 7: Enhancement in regulated and liberalised activities
Enhancement in regulated and liberalised activities Volumes sold +12.4% and enhanced Profit and Loss profitability of Trading M€ 2008 2009 Ch. % Sales to retail benefit from cold winter (customer mix based on retail) Revenues 1,216.4 1,259.5 +3.5% Operat. costs (1,083.8) (1,040.2) (4.0%) Wholesa
Slide 8: Boost in sales partially offset crisis effect
Boost in sales partially offset crisis effect Profit and Loss Proactive marketing approach and M€ 2008 2009 Ch. % strong presence on reference market yield outstanding results (vs -5% martket trend): Revenues 1,557.3 2,027.7 +30.2% Operat. costs (1,505.8) (1,965.0) +30.5% +48K clients market exp
Slide 9: Other activities
Other activities Profit and Loss M€ 2008 2009 Ch. % Revenues 75.7 108.3 +43.1% Operat. costs (53.0) (73.0) +37.7% Sales increase underpinned by good Personnel (11.5) (17.4) +51.4% performance of Public Lighting and of Capitaliz. 2.4 3.1 +29.3% TLC infrastructure management business. Ebitda 13.5 21
Slide 10: Financial Statement
Financial Statement Balance Sheet Capex and Investments M€ 31/12/'08 31/12/'09 Future growth sustained by 391.5 m€ Fixed Assets 3,594.5 3,985.8 capital expenditure executed as Working Capital (22.9) 26.8 Stock 60.7 47.1 budgeted (~40% development capex). Receivables 1,183.0 1,157.0 Investments (3
Slide 11: Closing remarks
Closing remarks Solid and comfortable results offsetting economic slow down. Main strategic achievements of business plan fulfilled (LOC rationalisation, network acquisition from municipalities, largest new plant construction). Approval of Gas Distribution tariff for 2010 will provide a furthe
Slide 12: Q&A Session
Q&A Session Hera commercial campaign 2010