Acea S.p.a. · MIL:ACE
Acea — 9M 2016 Earnings Presentation
13 slides from Acea's earnings presentation, Nov 10, 2016
Slide 1: Acea Group 9M 2016 Results
Acea Group 9M 2016 Results Rome, 10 November 2016
Slide 2: Financial highlights
Financial highlights 9M 9M % (€m) 2015 2016 change Consolidated revenues 2,167.7 2,047.5 -5.5% Impact of accounting for EBITDA 530.9 646.1 +21.7% Resolution 654/2015: €76.5m EBIT 284.8 378.1 +32.8% Profit/(loss) before tax 216.9 317.0 +46.2% Impact of accounting for Group net profit/(loss) 136.6 200
Slide 3: EBITDA
EBITDA EBITDA 9M 2016 Number of employees 9M 2015 9M 2016 Acea Spa 640 624 6% Environment EBITDA from 21% Environment 220 248 15% regulated Energy Energy 539 556 businesses Water EBITDA from Water 2,215 2,155 39% unregulated Grids Network 1,348 1,309 businesses Total* 4,962 4,892 79% 40% * Figures d
Slide 4: EBITDA and Key quantitative data: Environment and Energy
EBITDA and Key quantitative data Environment Aria: +€0.3m SAO: +€1.2m EBITDA main drivers 9M 9M % 9M 9M (€m) Key quantitative data 2015 2016 change 2015 2016 Treatment and disposal EBITDA 40.4 42.1 +4.2% 570 607 (/000s of tonnes) Capex 14.9 30.3 +103.4% WTE electricity sold (GWh) 196 196 Electricity
Slide 5: EBITDA and Key quantitative data: Water
EBITDA and Key quantitative data Acea ATO2: +€34.8m (quality award €9m) Efficiency Water EBITDA main drivers Overseas water operations: -€2.5m 9M 9M % 9M 9M (€m) Key quantitative data 2015 2016 change 2015 2016 EBITDA 225.5 257.3 +14.1% Total volume of water sold (Mm3) 316 309 Of which: Profit/(loss
Slide 6: EBITDA and Key quantitative data: Grids and Corporate
EBITDA and Key quantitative data Grids Recognition of the positive component linked to the regulatory change introduced by AEEGSI Resolution 654/2015: +€76.5m EBITDA main drivers Public Lighting: -€3.4m Areti margin decrease (new tariff cycle 2016-2023): -€11.2m 9M 9M % 9M 9M (€m) Key quantitative d
Slide 7: EBIT and Net Profit
EBIT and Net Profit EBIT (€m) NET PROFIT (€m) 378.1 76.5 Regulatory change 284.8 200.9 51.5 Regulatory change 301.6 136.6 149.4 9M 2015 9M 2016 9M 2015 9M 2016 (€m) 9M 9M % 2015 2016 change Higher depreciation as a result of increased Depreciation 172.0 186.9 +8.7% investment Write-off 53.0 47.7 -
Slide 8: Cash flow
Cash flow CASH FLOW ANALYSIS (€m) 9M 2015 2015 9M 2016 EBITDA 531 732 646 Change in net working capital (59) 98 (134) Investment (287) (423) (349) Free Cash Flow 185 407 164 Net finance income/(costs) (67) (90) (61) Income tax expense (75) (115) (109) Dividends (96) (96) (107) Other 11 (27) (15) Tot
Slide 9: Net Debt
Net Debt 30 Sep 2015 31 Dec 2015 30 Sep 2016 Change Change (€m) (a) (b) (c-a) (c-b) (c) NET DEBT 2,130.8 2,010.1 2,138.7 7.9 128.6 Medium/Long-term 2,656.0 2,657.0 2,626.7 (29.3) (30.3) Short-term (525.2) (646.9) (488.0) 37.2 158.9 NET DEBT/ EQUITY NET DEBT/ EQUITY 31 Dec 2015 30 Sep 2016 1.3x 1.3x
Slide 10: 3Q 2016 Appendix
3Q 2016 APPENDIX 10 Acea Group 9M 2016 Results
Slide 11: Financial highlights
Financial highlights (€m) 3Q 3Q % 2015 2016 change Consolidated revenues 726.5 660.8 -9.0% EBITDA 177.6 202.3 +13.9% EBIT 82.2 104.0 +26.5% Profit/(loss) before tax 60.0 84.6 +41.0% Group net profit/(loss) 37.3 51.4 +37.8% 11 Acea Group 9M 2016 Results
Slide 12: EBITDA and Key quantitative data by segment
EBITDA and Key quantitative data Environment Water EBITDA main drivers EBITDA main drivers 3Q 3Q % 3Q 3Q % (€m) 2015 2016 change (€m) 2015 2016 change EBITDA 13.3 12.9 -3.0% EBITDA 78.8 92.7 +17.6% Energy Grids EBITDA main drivers EBITDA main drivers 3Q 3Q % 3Q 3Q % (€m) (€m) 2015 2016 change 2015 2
Slide 13: Disclaimer
Disclaimer THIS PRESENTATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS THAT REFLECT THE COMPANY’S MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND FINANCIAL AND OPERATIONAL PERFORMANCE OF THE COMPANY AND ITS SUBSIDIARIES. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON ACEA S.P.A.’S CURR