Slide 1: Hera Group Y2012 financial results
Hera Group Y2012 financial results analyst presentation, 22nd March 2013
Slide 2: 2012 results at a Glance
2012 results at a Glance 2012 YoY growth rates Positive growth in operations despite (%) recession scenario, underpinned by +13.5% enhancement in gas and water. +8.8% Bottom line increased even excluding extraordinary positive effects, mainly related to tax +2.7% recovery (reimbursement of IRES paid
Slide 3: 2012 results grew despite all
2012 results grew despite all Increase in tariffs, and gas 2011 2012 Ch.% volumes sold/traded. Revenues 4,315.9 4,696.3 +8.8% 13.4m€ in accruals to Ebitda 644.8 662.0 +2.7% provisions related to “one Financial inc./exp. Depreciation (233.8) (239.1) +2.3% off” past years items. increased due to highe
Slide 4: Continuing growth through both organic drivers and M&A
Continuing growth through both organic drivers and M&A Ebitda growth drivers (m€) +5.6% adj Organic Growth in line with track records. +11 +662,0 644,8 +24,2 626,8 Organic growth more than compensating (18.0) the expiry of WTE BO Cip6 contract effects underpinned by tariffs, customers, cross selling
Slide 5: Positive operating cash flows before M&A and dividends
Positive operating cash flows before M&A and dividends 2012 cash flows (m€) 500 2012 free cash generation almost fully 400 funded net capex by 270 m€ and Working 300 (270) Capital increase (50% related to increased 200 +421 receivables due to macro-scenario, earthquake impact and 50% related to decr
Slide 6: WASTE: Going through the crisis substantially un-damaged
WASTE: Going through the crisis substantially un-damaged Financial highlights (m€) Urban waste tariffs up by +3.4%. 2011 2012 Ch. % Revenues 740.1 737.8 (0.3%) Ebitda 194.2 183.5 (5.5%) Economic slow down impacts household consumption and consequently urban waste volumes. 2012 Ebitda build up (m€) S
Slide 7: WATER: Committed to reach proper returns
WATER: Committed to reach proper returns Financial highlights (m€) 2011 2012 Ch. % Tariffs increase of +6.7% whilst volumes 177.6 178.7 were lower YoY. Revenues 596.7 617.1 +3.4% Ebitda 150.2 158.3 +5.4% Ebitda reflects also efficiency improvements partially compensating higher electricity costs Vol
Slide 8: Gas: record year due to volumes and margins
Gas: record year due to volumes and margins Financial highlights (m€) 2011 2012 Ch. % Revenues growth mainly driven by higher commodity prices, larger trading Revenues 1,490.2 1,769.3 +18.7% and sold volumes. Ebitda 208.7 240.7 +15.3% Cold Q1 2012 more than compensated Volumes and customers decrease
Slide 9: Electricity: market expansion still on going
Electricity: market expansion still on going Financial highlights (m€) 2011 2012 Ch. % Revenues growth mainly driven by higher prices partially compensated by slow down Revenues 1,585.2 1,678.4 +5.9% in demand (-4.6% volume). Ebitda 73.2 62.3 (15.0%) Commercial margins and expansion (+12.2% customer
Slide 10: Update on Acegas Aps
Update on Acegas Aps Group Full merger with Acegas Aps Holding Acegas Acegas Hera 2012 proforma A2011 A2012 A2012 Proforma executed by year end (consolidation starting 2012 from 1/1/2013). Revenues 585 626 4,696 5,322 Ebitda 119 129 662 791 Acegas Aps yearly results in line with our Ebit 53 59 335 3
Slide 11: Closing remarks
Closing remarks ‘12 results in line with plan target Strong competitiveness on energy market and progression in regulated activities Business plan target 2012 underpinned positive Ebitda performance. Avg synergies & Organic Growth 23m€ 24m€ ✔ Waste special waste volumes increase Q4 positive trend ✔
Slide 12: Q&A session
HER Q&A session