37 slides from Athens Water Supply And Sewerage's earnings presentation, September 2022
Slide 1: Presentation of Financial Results for the 1st Half of 2022
PRESENTATION OF FINANCIAL RESULTS FOR THE 1ST HALF OF 2022 SEPTEMBER 2022
Slide 2: Key points of financial results
Key points of financial results - The first half of 2022 is the first one during which the Company operates under the terms of the new contract with the Greek State. - The turnover in the first half of 2022 showed an increase of 5% or +€7.8 million and amounted to €163.9 million from €156 million in
Slide 3: Significant events of the first half of 2022
Significant events of the first half of 2022 • The impact of the increase in energy prices was significant (€8.5 million). • The normalization of the issuance and distribution of water bills resulted in the restoration of the customers' balance from the increase in collections • The reversal of prov
Slide 4: Immediate Energy Cost Management Actions
Immediate Energy Cost Management Actions • Partial transfer of water treatment operation from Kiourka to Menidi with significant energy benefit • Use of biogas instead of natural gas in Psyttalia for drying mud • Greater participation of biogas cogeneration units in meeting Psyttalia's electricity n
Slide 5: Other impacts of Geopolitical crisis
Other impacts of Geopolitical crisis • EYDAP is not directly exposed in these areas, therefore there is no direct impact on its activities. • The increase in prices has caused delays in some of the Company's projects as the prices of materials have increased significantly. • Requests for price adjus
Slide 6: East Attica projects
East Attica projects • Up to the first half of 2022: - 41.2 km of pipelines have been constructed in the municipal entity of Glyka Nera in the Municipality of Peania and 15.3 km of pipelines in the Municipality of Pallini. - 21 km of pipelines and 100 m of hydraulic tunnel have been constructed in t
Slide 7: Transformation Projects
Transformation Projects Α. Modernization of functions The study for the formulation of the Smart Meters strategy of EYDAP S.A. and the corresponding operational case study were completed in order to proceed with the drafting of the relevant tender documents. The roadmap of actions for the reduction
Slide 8: We continue to highlight the E2S2G4 dynamics of the Company
We continue to highlight the E2S2G4 dynamics of the Company EYDAP is the first public organization to integrate and harmonize with the SASB standard (Water Utility & Services) In the first half of 2022, EYDAP proceeded with the: Verification & Validation of Greenhouse Gas Emissions Calculations
Slide 9: New EYDAP building in the context of the ESG strategy
New EYDAP building in the context of the ESG strategy - Completion of the architectural tender for the submission of ideas for the construction of a new modern bioclimatic building complex that will house the administrative services of EYDAP. - The new building, with a surface of 16,000 square meter
Slide 10: Significant Events after the First Half 2022
Significant Events after the First Half 2022 - On July 30, law 4964/2022 was passed which states that the shares of EYDAP remain in the possession of HCAP with increased State oversight. - The General Meeting of August 30th, ratified the Memorandum of Understanding signed between EYDAP S.A. and of t
Slide 11: Disclaimer
Disclaimer This presentation has been prepared by EYDAP S.A. (or the “Company”) for information purposes only. The information contained in this presentation has not been independently verified and no representation or warranty, express or implied, is made as to, regarding the accuracy, completeness
Slide 12: Financial Results H1 2022
Financial Results H1 2022 ΣΧΕΔΙΑΣΜΟΣ ΓΙΑ ΤΟ ΜΕΛΛΟΝ September 2022
Slide 13: Financial Results 1H 2022 (Company)
Financial Results 1H 2022 (Company) In thousands of € 1H 2020 1H 2021 1H 2022 Y-O-Y Turnover 158.274 156.034 163.854 5,0% Gross Profits 81.878 71.843 67.135 -6,6% % of turnover 52% 46% 41,0% EBITDA 36.691 35.328 34.525 -2,3% % of turnover 23% 23% 21,1% EBIT 18.596 17.779 14.988 -15,7% % of turnover
Slide 14: EBITDA 1H 2022
EBITDA 1H 2022 (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 September 2022 14
Slide 15: Earnings Before Taxes (EBT)
Earnings Before Taxes (EBT) 1Η 2022 (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 September 2022 profits it is displayed in green while if it is negative in orange 15
Slide 16: Turnover Breakdown
Turnover Breakdown 1Η 2022 (amounts in thousands of €) TURNOVER 1H 2020 1H 2021 1H 2022 Y-O-Y Revenues from Water Supply and Related Services 106.110 105.925 103.035 -2,7% % of turnover 67,0% 67,9% 62,9% Revenues from Sewerage Services 51.215 49.392 47.307 -4,2% % of turnover 32,4% 31,7% 28,9% Reven
Slide 17: Turnover
Turnover 1Η 2022 (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 September 2022 17
Slide 18: Revenues from Water Supply and Related Services
Revenues from Water Supply and Related Services 1Η 2022 (amounts in thousands of €) WATER SUPPLY AND RELATED SERVICES 1H 2020 1H 2021 1H 2022 Υ-Ο-Υ Revenues from Water Consumption 104.391 103.817 98.665 -5,0% % of the total of water supply and related services 98,4% 98,0% 95,8% New Water Supply Conn
Slide 19: Revenues from Water Supply and Related Services
Revenues from Water Supply and Related Services 1Η 2022 (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 Septemb
Slide 20: Revenues from Sewerage Services
Revenues from Sewerage Services 1Η 2022 (amounts in thousands of €) Sewerage Revenues 1H 2020 1H 2021 1H 2022 Υ-Ο-Υ Revenues from Sewer Usage 50.057 48.126 46.116 -4,2% % of the total Revenues from Sewerage Services 97,7% 97,4% 97,5% Connection Fees 225 368 303 -17,6% % of the total Revenues from Se
Slide 21: Revenues from Sewerage Services
Revenues from Sewerage Services 1Η 2022 (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 September 2022 21
Slide 22: Operating Expenses Breakdown
Operating Expenses Breakdown* 1Η 2022 (amounts in thousands of €) OPERATING EXPENSES* 1H 2020 1H 2021 1H 2022 Υ-O-Y Personnel Costs 58.702 61.352 62.708 2,2% % of Operating Expenses 48% 51% 49% Utility Expenses 18.288 19.658 29.498 50,1% % of Operating Expenses 15% 16% 23% Third-party Expenses and F
Slide 23: Operating Expenses Breakdown 1H 2022
Operating Expenses Breakdown* 1Η 2022 *before D&A expenses (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 Sept
Slide 24: Personnel Costs Breakdown
Personnel Costs Breakdown 1Η 2022 (amounts in thousands of €) PERSONNEL COSTS 1H 2020 1H 2021 1H 2022 Υ-O-Y Wages and Salaries 43.815 46.233 47.245 2% % of the total of Personnel Costs 75% 75% 75% Social Security Costs 10.038 9.537 9.516 0% % of the total of Personnel Costs 17% 16% 15% Provisions fo
Slide 25: Personnel Costs
Personnel Costs 1Η 2022 (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 September 2022 25
Slide 26: Breakdown of Various Provisions
Breakdown of Various Provisions 1Η 2022 (amounts in thousands of €) VARIOUS PROVISIONS 1H 2020 1H 2021 1H 2022 Y-o-Y Bad Debt Expenses * 17.237 3.447 -5.198 -251% Provisions for Litigation Expenses -4.121 -1.017 -8.952 -780% Inventory Write-offs (reversals) 218 281 213 -24% Total of Various Provisio
Slide 27: Breakdown of Third-Party Expenses & Fees
Breakdown of Third-Party Expenses & Fees 1Η 2022 (amounts in thousands of €) THIRD-PARTY EXPENSES & FEES 1H 2020 1H 2021 1H 2022 Y-o-Y Psytallia WWTP 13.807 14.141 14.172 0% % of the total Third-Party Expenses and Fees 56% 54% 48% Metamorphosi WWTP 1.299 1.084 1.139 5% % of the total Third-Party Exp
Slide 28: Third-Party Expenses & Fees
Third-Party Expenses & Fees 1Η 2022 (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 September 2022 28
Slide 29: Breakdown of Third-Party Expenses & Fees
Breakdown of Third-Party Expenses & Fees 1Η 2022 (amounts in thousands of €) THIRD-PARTY EXPENSES & FEES 1H 2020 1H 2021 1H 2022 Y-o-Y O&M Contractors 16.936 16.629 16.496 -1% Personnel Contractors 3.088 3.794 4.395 16% Various Third Party Expenses without tax 1.378 1.388 2.640 90% Security and Fire
Slide 30: Third-Party Expenses & Fees
Third-Party Expenses & Fees 1Η 2022 (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 September 2022 30
Slide 31: Breakdown of Utility Expenses
Breakdown of Utility Expenses 1Η 2022 (amounts in thousands of €) UTILITY EXPENSES 1H 2020 1H 2021 1H 2022 Y-o-Y Electricity 8.515 9.328 17.423 87% % of the total of Utility Expenses 47% 47% 59% Natural Gas 137 171 410 140% % of the total of Utility Expenses 1% 1% 1% Rents 4.270 4.463 4.700 5% % of
Slide 32: Utility Expenses
Utility Expenses 1Η 2022 (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 September 2022 32
Slide 33: Breakdown of Other Expenses
Breakdown of Other Expenses 1Η 2022 (amounts in thousands of €) OTHER EXPENSES 1H 2020 1H 2021 1H 2022 Y-o-Y Taxes and duties 2.404 3.498 2.806 -20% % of the total of Other Expenses 34% 54% 43% Consumables 831 947 1.245 32% % of the total of Other Expenses 12% 15% 19% Promotion and Advertising Expen
Slide 34: Other Expenses
Other Expenses 1Η 2022 (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 September 2022 34
Slide 35: Balance Sheet Items
Balance Sheet Items 1Η 2022 (amounts in thousands of €) ASSETS 2021 1Η 2022 1Η22-21% Tangible Assets 778.198 774.049 -0,5% Intagible Assets 83.968 81.745 -2,6% Right-of-Use Assets 1.302 1.197 -8,0% Other Non Current Assets 91.302 89.167 -2,3% Inventories 14.803 16.176 9,3% Trade Receivables-Contract
Slide 36: Breakdown Receivables from Customers and Contract Assets
Breakdown Receivables from Customers and Contract Assets 1Η 2022 (amounts in thousands of €) Receivables from Customers and Contract Assets 2021 1Η 2022 Receivables from Customers and Contract Assets before provisions 328.877 280.321 Provisions for doubtful receivables and Contract Assets -103.306 -
Slide 37: Cash Flow Statement
Cash Flow Statement 1Η 2022 (amounts in thousands of €) 1H 2020 1H 2021 1H 2022 Cash Flow from operating activities Profit before tax 24.034 23.897 20.317 Adjustments for non-cash items 25.083 15.138 655 Adjustments in operating assets and liabilities -17.755 -20.238 -169.323 Late payment charges co