Edison Spa · MIL:EDNR
Edison Spa — Q1 2020 Earnings Presentation
13 slides from Edison Spa's earnings presentation, May 2020
Slide 1: 3 Months 2020 Results
3 MONTHS 2020 RESULTS Milan, May 2020 | 1
Slide 2: Business Environment
BUSINESS ENVIRONMENT € oo? win EDISON
Slide 3: Electric Power Availability Mix in Italy
ELECTRIC POWER AVAILABILITY MIX IN ITALY (TWh) 80,6 (4.5%) 77,0 10,4 8.6% Pumping 1,4 = 11,3 5,1 = 1,4 7,1 5,1 Net import (16.9%) 5,9 7,6 17.5% Geothermal production 8,9 PV production Net Generation: 66.4 TWh (-6.2%) Wind production 49,6 (9.4%) 45,0 Hydroelectric production Thermoelectric production
Slide 4: Gas Demand in Italy
GAS DEMAND IN ITALY (bcm) (6,5%) 25,5 0,4 = 23,9 0,4 6,7 (6.7%) System uses and losses 6,3 Thermoelectric users 4,9 (7.3%) Industrial users 4,5 Services and residential users 13,5 (6.2%) 12,7 3m2019 3m2020 Gas demand fell due to mild weather conditions and the COVID-19 health crisis. Mild weather co
Slide 5: Market Reference Scenario
MARKET REFERENCE SCENARIO BRENT1 PSV (€c/scm) Avg 3m2020: 51.0 $/bbl Avg 3m2020: 12.0 46.3 €/bbl Avg 3m2019: 22.0 Avg 3m2019: 63.9 $/bbl Avg FY2019: 17.0 56.3 €/bbl Avg FY2019: 64.1 $/bbl 57.2 €/bbl PUN TWA Avg 3m2020: 39.6 CSS2 Avg 3m2020: -0.7 (€/MWh) (€/MWh) Avg 3m2019: +0.1 Avg 3m2019: 59.5 Avg
Slide 6: Three Months 2020 Results
THREE MONTHS 2020 RESULTS • Edison electric power and gas sources and uses • Consolidated financial highlights and capital expenditures • Operating performance • Net financial debt and cash flow | 6
Slide 7: Edison Electric Power Volumes in Italy
EDISON ELECTRIC POWER VOLUMES IN ITALY SOURCES USES (TWh) (TWh) (6.5%) (6.5%) 10,2 10,2 9,5 9,5 0,5 +8.3% 0,4 +33.8% 0,5 +3.5% 0,6 3,7 (17.2%) 3,9 4,3 3,6 (12.3%) (2.1%) 6,5 5,0 5,6 4,8 3M2019 3M2020 3M2019 3M2020 Wind & other renewable production Other sales (wholesalers, IPEX, etc.) End customers
Slide 8: Edison Gas Volumes in Italy
EDISON GAS VOLUMES IN ITALY SOURCES USES 5,5 (6.9%) (6.9%) (bcm) 5,1 (bcm) 5,5 0,3 (26.5%) 5,1 0,2 1,0 +7.8% 1,6 +19.4% 1,0 2,0 1,8 (13.7%) 1,6 3,5 (17.6%) 1,4 +4.0% 1,4 2,8 1,3 1,1 (5.8%) (19.8%) 0,1 0,1 3M2019 3M2020 3M2019 3M2020 Production (a) Imports (pipeline + LNG) Other purchases Change in g
Slide 9: Group Consolidated Highlights
GROUP CONSOLIDATED HIGHLIGHTS (€ mln) FY2019 3M2019a 3M2020b D Net capex & net financial investmentsa-c) 8.168 Sales revenues 2.401 1.815 (24,4%) 587 EBITDA 178 180 1,1% 58 176 EBIT 112 110 (1,8%) 1 98 Profit (loss) from Continuing Operations 69 44 (36,2%) (562) Profit (loss) from Discontinued Opera
Slide 10: Operating Performance Breakdown
OPERATING PERFORMANCE BREAKDOWN Gas Electric Power (Gas supply & sales and Corporate and eliminations Total Edison Group regulated activities) a a a (€ mln) 3m2019 3m2020 ∆ 3m2019 3m2020 ∆ 3m2019 3m2020 ∆ 3m2019 3m2020 ∆ Sales revenues 1.068 973 (8,9%) 1.583 1.044 (34,0%) (250) (202) 19,2% 2.401 1.8
Slide 11: From Consolidated EBITDA to Net Result
FROM CONSOLIDATED EBITDA TO NET RESULT (€ mln) 3m2019a 3m2020b D EBITDA 178 180 2 The impacts of COVID-19 on Depreciation, amortization and writedowns (73) (85) c) (12) of which: writedowns 0 0 0 Edison’s results in the first quarter Net change in fair value of commodity derivatives 10 16 6 of 2020
Slide 12: Net Financial Debt and Cash Flow
NET FINANCIAL DEBT AND CASH FLOW NET FINANCIAL DEBT NET CASH FLOW OF THE PERIOD (€ mln) (€ mln) +251 767 516 Dec 31, 2019 March 31, 2020 Net financial debt increased to €767 mln mainly due to the increase in working capital, essentially linked to the seasonality of volumes sold, and the payment of C
Slide 13: Statement
STATEMENT As required by Article 154-bis, Section 2, of the Uniform Finance Law (Legislative Decree No 58/1998), Didier Calvez and Roberto Buccelli, in their capacity as “Dirigenti preposti alla redazione dei documenti contabili societari” of Edison S.p.A., attest that the accounting information con