Slide 1: Equity Analysts' briefing: AVAX Group 2020 Financial Results
Equity Analysts’ briefing in accordance with the Athens Stock Exchange Regulation (article 4.1.3.15.2) AVAX Group 2020 Financial Results 05.05.2021
Slide 2: Overview of 2020
Overview of 2020 The following are the most important events for the group which took place in 2020: A €20 million rights issue was completed in February 2020 The Company challenged the final decision of an international arbitration for compensation totaling approximately €19 million in its long
Slide 3: Events during 2021
Events during 2021 During 2021, the following important developments for the Group have taken place: Participation in a joint venture with Vinci Highways, Vinci Concessions and Mytilineos Holdings, which submitted a financial offer for the long-term concession of the financing, operation & mainten
Slide 4: Group & Company Financial Results
Group & Company Financial Results GROUP COMPANY amounts in € ‘000 2020 2019 chg 2020 2019 chg Turnover 576,556 575,929 0.1% 444,024 432,106 2.8% Cost of Sales (521,576) (533,339) (405,482) (395,133) Gross Profit 54,980 42,588 29.1% 38,542 36,973 4.2% Other Net Income / (Expenses) 395 3,284 (2,934) (
Slide 5: Group Financial Results
Group Financial Results Turnover (in € m) EBT (in € m) 20 ee 791 €750 ----------- 683 L695 ------------------ ero 576577 518 38 e500 AZ0........ I 474. . J €250 + 1 of q €0 0% + 2004 «2006 «62008 «62010 2012 2014 2016 2018 2020 2004 2008 2012 2016 2020 =@=—=Gross Margin == EBITDA Margin M@MMBESITDA
Slide 6: Group & Company Balance Sheet
Group & Company Balance Sheet GROUP COMPANY amounts in € million 31.12.2020 31.12.2019 31.12.2020 31.12.2019 Financial Assets, at Fair Value 598.9 586.3 689.5 706.0 Other Fixed Assets (incl. Restricted Deposits €20 m) 0.0 370.7 0.0 18.7 Assets for sale (Discontinued Operations) 0.0 33.8 0.0 33.8 Inv
Slide 7: Group Balance Sheet
Group Balance Sheet Shareholder Funds (in € m) 2004 2008 2012 2016 2020 Net Financial Liabilities (in € m) 2004 2008 2012 2016 2020
Slide 8: Consolidated Debt Analysis
Consolidated Debt Analysis GROUP COMPANY amounts in € million 31.12.2020 31.12.2019 31.12.2020 31.12.2019 Bond Loans (457.8) (454.2) (404.2) (431.6) Project Financing * and Other Long-Term (3.2) (19.8) (2.2) (7.9) Loans Long-Term Loans (a) (461.0) (474.1) (406.4) (439.5) Short-term Loans (48.2) (36.
Slide 9: Group Results by Business Sector
Group Results by Business Sector amounts in € million Construction Concessions Energy Other Group Total 2020 Turnover 438.5 3.2 120.6 14.2 576.6 Gross Profit 46.0 (0.5) 7.1 2.5 55.0 Income from 0.9 21.0 0.0 (0.1) 21.8 Associated Companies * ΕΒΙΤ 6.8 20.8 2.1 (1.6) 28.2 EBITDA 35.0 22.7 4.1 (0.7) 61.
Slide 10: Group Results by Geographic Region
Group Results by Geographic Region International amounts in € million Greece Group Total Markets 2020 Turnover 286.0 290.6 576.6 Gross Profit 9.7 45.3 55.0 Income from 17.1 4.7 21.8 Associated Companies * ΕΒΙΤ (0.6) 28.8 28.2 EBITDA 23.8 37.3 61.0 Pre-Tax Earnings (19.6) 22.9 3.3 2019 Turnover 290.0
Slide 11: Breakdown of Main Financial Figures
Breakdown of Main Financial Figures amounts in € million Turnover EBITDA Net Debt & Leasing 2020 2019 change 2020 2019 change 2020 2019 change Business Sector Construction 436.1 441.8 (1.3%) 35.0 31.7 10.3% (433.1) (347.8) 24.5% Concessions 3.2 4.9 (35.0%) 22.7 27.3 (16.9%) (28.7) (77.0) (62.7%) Ene
Slide 12: Group EBITDA Breakdown
Group EBITDA Breakdown amounts in € ‘000 2020 2019 Int’l Int’l Greece Total Greece Total Markets Markets Construction 2,396 32,591 34,988 27,613 4,096 31,709 Concessions 18,005 4,675 22,680 21,233 6,069 27,302 Energy 4,037 10 4,047 (1,767) 75 (1,692) Other Activities (681) 0 (681) 764 0 764 Total 23
Slide 13: Revenue & EBITDA Breakdown by Business Sector
Revenue & EBITDA Breakdown by Business Sector Construction is the mainstay of Group revenues, nevertheless the energy sector (through 100% subsidiary Volterra) is gradually increasing its participation in recent years. Production of operating profits (EBITDA) is relatively balanced between construct
Slide 14: Revenue & EBITDA Breakdown by Geographic Region
Revenue & EBITDA Breakdown by Geographic Region International markets have historically been an important source of revenue for the Group. In the past, foreign projects were primarily large-scale infrastructure projects, but more recently international activity is shifting more towards energy EPC pr
Slide 15: Group Cash Flow
Group Cash Flow amounts in € million 2020 2019 Pre-Tax Earnings 3.3 (11.2) Depreciation 15.3 16.3 Other Operating Cash Flows 0.9 20.2 Change in Working Capital * (89.4) 94.5 Operating Cash Flow (69.9) 119.7 Net (Acquisition) / Sale of tangible & intangible fixed assets (13.0) (20.7) Net (Acquisition
Slide 16: Concession Portfolio Valuation, 31.12.2020
Concession Portfolio Valuation, 31.12.2020 Non- Consolidated Consolidated Financial Financial Accounts Valuation amounts in € million Participation Accounts [mostly Difference [recognised at recognised with Fair Value] Equity Method] Athens Ring Road 34.21% 188.5 78.1 110.4 Limasol Marina 33.50% 64.
Slide 17: Main Ongoing Projects
Main Ongoing Projects Value Work-in- Completion amounts in € million Country for Hand 31.12.2020 AVAX 31.12.2020 1,650MW power plant (EPC project) Iraq 533 48% 279 Greece- IGB natural gas pipeline(EPC project) 145 20% 116 Bulgaria Exhaust Desulphation System at PPC’s Agios Greece 68 59% 28 Dimitrios