Athens Water Supply And Sewerage Company S.a. · ATHEX:EYDAP
Athens Water Supply And Sewerage — FY2024 Earnings Presentation
40 slides from Athens Water Supply And Sewerage's earnings presentation, Apr 30, 2025
Slide 1: Financial Results 2024
Financial Results 2024 Harry Sachinis CEO EYDAP 30th of April 2025 Material Reservoir 1
Slide 2: Clean Water for All
Clean Water for All It ranks 1st in terms of water quality among 180 countries It has one of the cheapest tariffs worldwide according to worldwide, according to the Environmental Performance Index Global Water Intelligence. (EPI) Yale University. + Swimmable Saronic + Social tariff + Low energy cons
Slide 3: 2024 increase in turnover and investments, slight decrease in pre-tax profits
2024 was characterized by an increase in turnover, in investments and a slight decrease in pre-tax profits ... Turnover Operating cost Pre-tax Profits - Consumption increase by 6.2% - Increase in personnel costs - Increase in maintenance and security costs of new facilities 2024 … as a result of unc
Slide 4: Investment plan implementation pace has quadrupled
The investment plan implementation pace has quadrupled, is accelerating further to address… The aging of infrastructure The development of Attica The environmental obligations and Some of the challenges of the climate crisis … and will be further strengthened with projects such as Psyttalia 3.0 4
Slide 5: EYDAP's ten-year €2.1 billion investment plan
EYDAP's ten-year €2.1 billion investment plan... PROJECT CATEGORIES OF THE €2.1 bn INVESTMENT PROGRAM DISTRIBUTION OF PROJECTS BY HARMONIZATION LEVEL € 2.1 bn BUILDINGS, DIGITAL GOVERNANCE & TRASNFORMATION 108.6 million € 5% 2241048.07 € 0.1% SEWER PROJECTS € 370.3million € 20.4% 17% BIG PROJECTS IN
Slide 6: Rapid reduction of water reserves in the reservoirs
The rapid reduction of water reserves in the reservoirs from which the Greek State supplies EYDAP continues… October 2022 October 2023 October 641.306 2024 Oct Nov Dec Jan Feb Mar Apr May June July Aug Sep 6
Slide 7: EYDAP investigating alternative solutions on behalf of the State
…and EYDAP is investigating alternative solutions on behalf of the State… Kremast a First Phase: 365 mn € Kremast a Second Phase: 170 mn € Total: 535 mn € C Β Α Water Supply Network
Slide 8: Water loss reduction projects
...while simultaneously implementing water loss reduction projects... Budget Duration Projects to optimize the operation of the water supply network €169,852,460 Until Dec. 2029 EYDAP Mass replacements of outdated water meters and installation of €122,679,340 Until Dec. 2029 smart meters Technical i
Slide 9: EYDAP has one of the cheapest tariffs in Europe
EYDAP has one of the cheapest tariffs in Europe… Monthly cost water and sewerage before taxes for 15 cm/month as % of GDP per Monthly cost water and sewerage before taxes for 15 cm/month capita (2023) Source: GW I, Eurostat, World Bank Source: GW I, Eurostat, World Bank Monthly cost water and sewera
Slide 10: Regulatory framework follows international cost recovery practices
The regulatory framework follows international practices for cost recovery to advance EYDAP's investment program Methodology for calculating allowable income based on the Regulated Asset Base (RAB) model Allowed income Performance on RAB Operating Expenses Depreciation RAB Value WACC The Company is
Slide 11: Necessary for proper and effective operation of EYDAP
The following are immediately necessary for the proper and effective operation of EYDAP… • Flexibility in recruitment, so that we can hire the appropriate scientific and technical personnel at a faster pace than those who leave. • Accelerating water scarcity projects with flexibilities, as strategic
Slide 12: Financial Highlights
Financial Highlights 2024 Marathon Dam
Slide 13: Financial Results 2024 (Company)
Financial Results 2024 (Company) In thousands of € 2022 2023 2024 Y-O-Y Turnover 343.477 351.574 373.703 6,3% Gross Profits 121.548 133.836 152.622 14,0% % of turnover 35,4% 38,1% 40,8% EBITDA 38.998 60.824 57.064 -6% % of turnover 11,4% 17,3% 15,3% EBIT 117 21.517 15.074 -30% % of turnover 0,0% 6,1
Slide 14: EBITDA 2024
EBITDA 2024 (in thousands of €) In all presentation diagrams the size increases are shown in blue and the decreases in red. If the total change is positive for the company's profits it is displayed in green while if it is negative in orange 14
Slide 15: EBITDA Without Various Provisions
EBITDA Without Various Provisions 2024 (amounts in thousands of €) In thousands of € 2022 2023 2024 Y-O-Y Y-O-Y % EBITDA 38.998 60.824 57.064 -3.760 -6% Various Provisions -10.847 1.307 1.301 -6 0% EBITDA-Various Provisions 28.151 62.131 58.365 -3.766 -6% VARIOUS PROVISIONS 2022 2023 2024 Y-o-Y Bad
Slide 16: EBITDA Without Various Provisions
EBITDA Without Various Provisions 2024 (amounts in thousands of €) 96% of the total change is attributing to the first 5 factors 17 16
Slide 17: Earnings Before Taxes (EBT)
Earnings Before Taxes (EBT) 2024 (amounts in thousands of €) e company's In all presentation diagrams the size increases are shown in blue and the decreases in red. If the total change is positive for th profits it is displayed in green while if it is negative in orange 17
Slide 18: Turnover Breakdown
Turnover Breakdown 2024 (amounts in thousands of €) TURNOVER 2022 2023 2024 Y-O-Y Revenues from Water Supply and Related Services 219.099 222.918 239.226 7,3% % of turnover 63,8% 63,4% 62,8% Revenues from Sewerage Services 97.412 101.606 106.656 5,0% % of turnover 28,4% 28,9% 28,0% Revenues from Ele
Slide 19: Turnover 2023
Turnover 2023 (amounts in thousands of €) In all presentation diagrams the size increases are shown in blue and the decreases in red. If the total change is positive for the company's profits it is displayed in green while if it is negative in orange 19
Slide 20: Revenues from Water Supply and Related Services
Revenues from Water Supply and Related Services 2024 (amounts in thousands of €) WATER SUPPLY AND RELATED SERVICES 2022 2023 2024 Υ-Ο-Υ Revenues from Water Consumption 210.479 215.410 230.045 6,8% % of the total of water supply and related services 96,1% 96,6% 96,2% New Water Supply Connections 3.89
Slide 21: Revenues from Water Supply and Related Services
Revenues from Water Supply and Related Services 2024 (amounts in thousands of €) In all presentation diagrams the size increases are shown in blue and the decreases in red. If the total change is positive for the company's profits it is displayed in green while if it is negative in orange 21
Slide 22: Revenues from Sewerage Services
Revenues from Sewerage Services 2024 (amounts in thousands of €) Sewerage Revenues 2022 2023 2024 Υ-Ο-Υ Revenues from Sewer Usage 94.999 99.077 104.051 5,0% % of the total Revenues from Sewerage Services 97,5% 97,5% 97,6% Connection Fees 710 868 983 13,2% % of the total Revenues from Sewerage Servic
Slide 23: Revenues from Sewerage Services
Revenues from Sewerage Services 2024 (amounts in thousands of €) In all presentation diagrams the size increases are shown in blue and the decreases in red. If the total change is positive for the company's profits it is displayed in green while if it is negative in orange 23
Slide 24: Operating Expenses Breakdown
Operating Expenses Breakdown* 2024 (amounts in thousands of €) OPERATING EXPENSES* 2022 2023 2024 Υ-O-Y Personnel Costs 132.054 128.620 140.259 9% % of Operating Expenses 44% 44% 44% Utility Expenses 68.064 55.919 56.997 2% % of Operating Expenses 23% 19% 18% Third-party Expenses and Fees 60.013 58.
Slide 25: Operating Expenses Breakdown
Operating Expenses Breakdown* 2024 (amounts in thousands of €) In all presentation diagrams the size increases are shown in blue and the decreases in red. If the total change is positive for the company's profits it is displayed in green while if it is negative in orange *before D&A expenses 25
Slide 26: Personnel Costs Breakdown
Personnel Costs Breakdown 2024 (amounts in thousands of €) PERSONNEL COSTS 2022 2023 2024 Υ-O-Y Wages and Salaries 95.381 94.797 104.805 11% % of the total of Personnel Costs 72% 74% 75% Social Security Costs 23.545 22.045 23.577 7% % of the total of Personnel Costs 18% 17% 17% Provisions for post-e
Slide 27: Personnel Costs
Personnel Costs 2024 (amounts in thousands of €) In all presentation diagrams the size increases are shown in blue and the decreases in red. If the total change is positive for the company's profits it is displayed in green while if it is negative in orange 27
Slide 28: Breakdown of Various Provisions
Breakdown of Various Provisions 2024 (amounts in thousands of €) VARIOUS PROVISIONS 2022 2023 2024 Y-o-Y Bad Debt Expenses * -3.703 -477 6.501 1464% Provisions for Litigation Expenses -7.512 1.992 -4.703 -336% Inventory Write-offs (reversals) 369 -209 -496 -138% Total of Various Provisions -10.847 1
Slide 29: Breakdown of Third-Party Expenses & Fees
Breakdown of Third-Party Expenses & Fees 2024 (amounts in thousands of €) THIRD-PARTY EXPENSES & FEES 2022 2023 2024 Y-o-Y Psytallia WWTP 28.744 25.358 24.194 -5% % of the total Third-Party Expenses and Fees 48% 44% 36% Metamorphosi WWTP 2.251 1.977 3.464 75% % of the total Third-Party Expenses and
Slide 30: Third-Party Expenses & Fees
Third-Party Expenses & Fees 2024 (amounts in thousands of €) In all presentation diagrams the size increases are shown in blue and the decreases in red. If the total change is positive for the company's profits it is displayed in green while if it is negative in orange 30
Slide 31: Breakdown of Third-Party Expenses & Fees
Breakdown of Third-Party Expenses & Fees 2024 (amounts in thousands of €) THIRD-PARTY EXPENSES & FEES 2022 2023 2024 Y-o-Y O&M Contractors 33.957 30.963 33.635 9% Personnel Contractors 9.129 10.709 11.853 11% Various Third Party Expenses without tax 5.711 5.225 7.479 43% Security and Fire protection
Slide 32: Third-Party Expenses & Fees
Third-Party Expenses & Fees 2024 (amounts in thousands of €) In all presentation diagrams the size increases are shown in blue and the decreases in red. If the total change is positive for the company's profits it is displayed in green while if it is negative in orange 32
Slide 33: Breakdown of Utility Expenses
Breakdown of Utility Expenses 2024 (amounts in thousands of €) UTILITY EXPENSES 2022 2023 2024 Y-o-Y Electricity 44.409 32.873 29.994 -9% % of the total of Utility Expenses 65% 59% 53% Natural Gas 644 107 57 -47% % of the total of Utility Expenses 1% 0% 0% Rents 9.131 8.733 9.182 5% % of the total o
Slide 34: Utility Expenses
Utility Expenses 2024 (amounts in thousands of €) In all presentation diagrams the size increases are shown in blue and the decreases in red. If the total change is positive for the company's profits it is displayed in green while if it is negative in orange 34
Slide 35: Breakdown of Other Expenses
Breakdown of Other Expenses 2024 (amounts in thousands of €) OTHER EXPENSES 2022 2023 2024 Y-o-Y Taxes and duties 4.895 4.700 4.959 5% % of the total of Other Expenses 36% 36% 31% Consumables 3.213 3.130 3.738 19% % of the total of Other Expenses 24% 24% 23% Promotion and Advertising Expenses 1.905
Slide 36: Other Expenses
Other Expenses 2024 (amounts in thousands of €) In all presentation diagrams the size increases are shown in blue and the decreases in red. If the total change is positive for the company's profits it is displayed in green while if it is negative in orange 36
Slide 37: Balance Sheet Items
Balance Sheet Items 2024 (amounts in thousands of €) ASSETS 2023 2024 24-23% Tangible Assets 783.757 807.175 3,0% Intagible Assets 75.684 71.736 -5,2% Right-of-Use Assets 2.949 2.819 -4,4% Other Non Current Assets 89.930 98.918 10,0% Inventories 20.354 21.037 3,4% Trade Receivables-Contract Assets 1
Slide 38: Breakdown Receivables from Customers and Contract Assets
Breakdown Receivables from Customers and Contract Assets 2024 (amounts in thousands of €) Receivables from Customers and Contract Assets 2022 2023 2024 Receivables from Customers and Contract Assets before provisions 269.380 268.980 293.140 Provisions for doubtful receivables and Contract Assets -99
Slide 39: Cash Flow Statement
Cash Flow Statement 2024 (amounts in thousands of €) 2022 2023 2024 Cash Flow from operating activities Profit before tax 10.638 27.988 25.056 Adjustments for non-cash items 13.874 32.347 21.858 Adjustments in operating assets and liabilities -88.930 -45.210 -17.628 Late payment charges collected 8.
Slide 40: EYDAP SA Athens Water Supply & Sewerage Company
EYDAP SA ATHENS WATER SUPPLY & SEWERAGE COMPANY 156 . OROPOU STR . GALATI . ZIP CODE 11146 EYD APP 40
EYDAP S.A. (Athens Water Supply and Sewerage Company) — FY2024 Earnings Presentation on 6ix