Ascopiave S.p.a. · MIL:ASC
Ascopiave — Q1 2013 Earnings Presentation
25 slides from Ascopiave's earnings presentation, May 15, 2013
Slide 1: 1stQ 2013 Consolidated Results
1stQ 2013 CONSOLIDATED RESULTS Conference Call Pieve di Soligo, May, 15th 2013 Pag. 1
Slide 2: Contents
Contents CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Financial highlights → Ascopiave Group structure as of March, 31st 2013 Soligo, May, 15th 2013 → 1stQ 2013 income statement → Balance sheet Operating Data Revenues and EBITDA Gross margin on gas activities and other net operating costs Pe
Slide 3: Ascopiave Group structure as of March 31st 2013
Ascopiave Group structure as of March, 31st 2013 CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Gas distribution 57% Gas sales Soligo, May, 15th 2013 Other activities 89% 1% (in liquidation) 51% 1% 51% 1% 100% 80% 100% 100% 100% 49% 100% (in liquidation) 48,999% 100% 100% 100% (in liquidation)
Slide 4: 1stQ 2013 income statement
1stQ 2013 income statement CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, (Thousand of Euro) 1stQ 2013 1stQ 2012 Chg Chg % Revenues 371.523 396.886 (25.363) -6,4% Soligo, May, 15th 2013 (Cost of raw materials and consumables) (252.478) (305.556) 53.078 -17,4% (Cost of services) (46.798) (45.30
Slide 5: Balance sheet
Balance sheet CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, (Thousand of Euro) 31/03/2013 31/12/2012 Chg Chg % Tangible assets (*) 40.135 40.534 (399) -1,0% Soligo, May, 15th 2013 Non tangible assets (*) 448.491 450.457 (1.966) -0,4% Other fixed assets 29.716 29.817 (101) -0,3% Fixed assets 5
Slide 6: Contents
Contents CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Financial highlights Operating Data Soligo, May, 15th 2013 → Volumes of gas distributed → Volumes of gas sold to end customers → Volumes of gas sold on trading and wholesaling activities → Number of gas sales customers Revenues and EBITDA
Slide 7: Volumes of gas distributed (1)
Volumes of gas distributed (1) CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Volumes of gas distributed (Million of standard cubic meters) Soligo, May, 15th 2013 ∆ = -17,2 ∆ = +5,9 -4,4% 700 +8,0% 700 600 600 500 500 377,9 395,2 400 400 300 300 200 200 100 100 79,9 74,0 0 0 1stQ 2013 1stQ 201
Slide 8: Volumes of gas distributed (2)
Volumes of gas distributed (2) CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Volumes of gas distributed: hystorical trend (Million of standard cubic meters) Soligo, May, 15th 2013 450 342,1 Avg. 2002-2012 400 369 376 377 362 337 330 344 344 350 330 325 304 -5,0% 300 291 250 200 150 100 50 0 1
Slide 9: Volumes of gas sold to end customers
Volumes of gas sold to end customers CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Volumes of gas sold to end customers (Million of standard cubic meters) Soligo, May, 15th 2013 ∆ = -62,2 ∆ = -24,2 -12,5% -9,1% 700 700 600 600 496,3 500 434,1 500 400 400 300 300 242,4 266,6 200 200 100 100 0
Slide 10: Volumes of gas sold on trading and wholesaling activities
Volumes of gas sold on trading and wholesaling activities CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Volumes of gas sold on trading and wholesaling activities (Million of standard cubic meters) Soligo, May, 15th 2013 ∆ = -131,6 -100,0% 700 600 500 400 300 200 131,6 100 0 0 1stQ 2013 1stQ 2
Slide 11: Number of gas sales customers
Number of gas sales customers CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Gas sales customers Gas sales customers Companies consolidated at 100% Companies consolidated at 49%-51% Soligo, May, 15th 2013 ∆ = -2.146 ∆ = -1.462 -0,4% -0,5% 800.000 800.000 600.000 557.203 559.349 600.000 400.000
Slide 12: Contents
Contents CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Financial highlights Operating Data Soligo, May, 15th 2013 Revenues and EBITDA → Revenues bridge → EBITDA bridge Gross margin on gas activities and other net operating costs Personnel Capex and lenght of the gas distribution network Net F
Slide 13: Revenues bridge
Revenues bridge (1) CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Revenues bridge (Thousand of Euro) Soligo, May, 15th 2013 ∆ = -25.363 600.000 -6,4% 500.000 396.886 400.000 40.219 371.523 -15.453 -38.257 -11.873 300.000 200.000 100.000 0 1stQ 2012 Revenues Revenues Revenues Other 1stQ 2013 f
Slide 14: EBITDA bridge
EBITDA bridge (1) CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, EBITDA bridge (Thousand of Euro) Soligo, May, 15th 2013 ∆ = +19.933 80.000 +53,8% 70.000 60.000 19.396 353 184 57.005 50.000 40.000 37.072 30.000 20.000 10.000 0 EBITDA 1stQ Gross margin on Gas distribution Other changes EBITDA 1
Slide 15: Contents
Contents CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Financial highlights Operating Data Soligo, May, 15th 2013 Revenues and EBITDA Gross margin on gas activities and other net operating costs → Gross margin on gas sales → Distribution tariff revenues → Other net operating costs Personnel C
Slide 16: Gas sales
Gross margin on gas sales CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, (Thousand of Euro) 1stQ 2013 1stQ 2012 Chg Chg % Revenues from gas sales to end customers 311.240 321.498 (10.258) -3,2% Soligo, May, 15th 2013 Revenues from gas trading and wholesaling - 38.257 (38.257) -100,0% Revenues
Slide 17: Distribution tariff revenues
Distribution tariff revenues CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, (Thousand of Euro) 1stQ 2013 1stQ 2012 Chg Chg % Tariffs applied to sales companies 25.004 24.160 843 +3,5% Soligo, May, 15th 2013 Equalization amount (+ / -) (7.806) (7.315) (490) +6,7% Gas distribution tariff revenue
Slide 18: Other net operating costs
Other net operating costs CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Other net operating costs: p Decrease of net operating costs: +€0,2M Soligo, May, 15th 2013 of which: Increase of gas distribution concession fees: -€0,1M Increase of personnel cost: -€0,5M Increase of gross margin in ele
Slide 19: Contents
Contents CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Financial highlights Operating Data Soligo, May, 15th 2013 Revenues and EBITDA Gross margin on gas activities and other net operating costs Personnel → Number of employees → Cost of Personnel Capex and lenght of the gas distribution netwo
Slide 20: Number of employees
Number of employees (1) CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, No. of employees No. of employees Companies consolidated at 100% Companies consolidated at 49%-51% Soligo, May, 15th 2013 ∆ = -7 ∆ = -6 700 -1,5% 700 -3,5% 600 600 500 446 453 500 400 400 300 300 200 200 166 172 100 100 0 0
Slide 21: Cost of personnel
Cost of personnel CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Cost of personnel (Thousand of Euro) Soligo, May, 15th 2013 ∆ = +526 10.000 +8,3% 7.500 348 6.887 6.362 0 177 5.000 2.500 0 Cost of personnel Cost of personnel Change of Other changes Cost of personnel 1stQ 2012 of new capitaliz
Slide 22: Contents
Contents CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Financial highlights Operating Data Soligo, May, 15th 2013 Revenues and EBITDA Gross margin on gas activities and other operating costs Personnel Capex and lenght of the gas distribution network Net Financial Position and cash flow Pag. 2
Slide 23: Capex and length of the gas distribution network
Capex and lenght of the gas distribution network CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Capex (*) (Thousand of Euro) Soligo, May, 15th 2013 ∆ = +1.386 10.000 +27,1% Gas distribuition system: 9.000 Euro 1,8 mln 8.000 7.000 6.506 (**) gas meters: Euro 0,1 mln 6.000 5.120 5.000 gas distri
Slide 24: Contents
Contents CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, Financial highlights Operating Data Soligo, May, 15th 2013 Revenues and EBITDA Gross margin on gas activities and other net operating costs Personnel Capex and lenght of the gas distribution network Net Financial Position and cash flow Pa
Slide 25: Net Financial Position and cash flow
Net Financial Position and cash flow CONFERENCE CALL – 1stQ 2013 results Pieve di Soligo, ∆ = +30,1 (Million of Euro) 60 -17,7% Soligo, May, 15th 2013 40 20 0 -20 -40 -60 -80 -100 -120 +35,6 +92,6 -140 -160 -2,6 -0,0 -140,0 -180 -170,1 -200 -220 -240 -95,5 -260 -280 31/12/2012 C ash flow C apex C ha