Slide 1: FY 2010 Financial Results
FY 2010 Financial Results Milan, 23rd March 2011 www.gasplus.it
Slide 2: Gas Plus – FY10 main facts
Gas Plus – FY10 main facts S&S Loss Extraordinary and temporary events Increase in volumes sold ( +63%), decrease in selling price ( -10.6%) EBITDA decrease due to S&S negative profitability Growth in E&P Strong growth in E&P Acquisition of Società Padana Energia S.p.A. acquired from ENI t
Slide 3: Padana Acquisition – Considerable growth in E&P
Padana Acquisition – Considerable growth in E&P Società Padana Energia S.p.A. acquired from ENI the 19th October 2010 for a fixed price of 179.1 M€ The mining portfolio of Padana includes 11 exploitation concessions, 1 concessions requests (Agosta to be released) and 1 research permission; Acq
Slide 4: Market Scenario
Market Scenario General Brent Price Eni Gas Release Price Euro – Us Dollar Exchange rate TTF Gas Price 3
Slide 5: Consolidated Highlights FY10 Results
Consolidated Highlights FY10 Results Revenues 540.3 M€ ( +45% vs FY09) EBITDA 11.5 M€ (-71.9% vs FY09) EBITDA decrease mainly due: S&S negative profitability and E&P lower results EBIT -11.2 M€ (-149.5% vs FY09) Net Loss 13.4 M€ ( Net Profit 14.1 M€ FY09) Non recurring costs amounting to
Slide 6: FY10 Results
FY10 Results Fin. Overview % % % % (Euro M) FY10 on sales FY09 on sales % change 4Q10 on sales 4Q09 on sales % change Total Revenues 540.3 372.6 45.0% 227.8 95.7 138.1% Operating Costs (528.8) -97.9% (331.8) -89.0% 59.4% (235.4) -103.3% (81.5) -85.2% 188.7% EBITDA 11.5 2.1% 40.9 11.0% (71.9%) (7.6)
Slide 7: FY10 Financial Data
FY10 Financial Data Fin. Overview EBIT by Business Unit EBITDA by Business Unit -71,9% 40.9 11.5 22.6 -149,5% 6.2 8.0 0.3 2.5 2.0 3.1 -11.2 -154,0% 0.3 2.5 -258,3% 4.6 9,6 14,1 2.0 -7.6 -15.2 34.3 32.7 19.7 1.1 1.7 2.5 4.0 3.2 1.1 0.9 13.8 5.1 5.1 0.9 M€ 5.2 M€ 11.1 4.1 7.7 -2.3 -2.5 -2.2 -3.0 -18.1
Slide 8: E&P
E&P E&P % FY10* FY10** FY09 change 4Q10* 4Q10** 4Q09 % change Hydrocarbon Production (MScme)*** ^ 297.5 197.5 209.2 - 5.6% 75.5 49.3 52.5 - 6.2% Exploration Capex Italy (M€) 3.6 3.6 2.0 + 78.2% 0.3 0.3 0.9 - 61.3% Exploration Capex International (M€) 2.4 2.4 1.5 + 61.4% 0.6 0.6 0.3 + 100.0% Developm
Slide 9: International Activities
International Activities E&P Poland Romania (15% ) 3D seismic on Block 106carried on Resolution by Sterling (op) of FIA 4Q10. Processing in course with Melrose (dev op). Gross resources of approx 1.4 BSmc. Expected delays in development and further explo activities Romania UK NL Block P001-Monkwell
Slide 10: Storage
Storage Storage SINARCA PROJECT (60% GPS) Gas Plus is operator in all the projects San Benedetto (49% GPS) Working Gas : 522 MSmc In 1Q11, expected closing of the application for the issue of the Authorization of Feasibility (L. 334/99) Poggiofiorito (100% GPS) Working Gas : 157 MSmc Assignment
Slide 11: Network & Transport
Network & Transport Network and Transport FY10 FY09 % change 4Q10 4Q09 % change Distributed volumes (MSmc) 210.4 194.0 + 8.5% 70.0 67.7 + 3.4% Direct end users (#k) 88.4 90.2 - 2.0% 88.4 90.2 - 2.0% Pipeline (km) 1490.0 1524.0 - 2.2% 1490.0 1524.0 - 2.2% EBITDA (M€) 8.0 6.2 + 27.6% 4.0 2.5 + 63.0%
Slide 12: Supply & Sales
Supply & Sales S&S FY10 FY09 % change 4Q10 4Q09 % change Supply (MSmc) 1950.9 1158.7 + 68.4% 800.8 262.7 + 204.8% Sales (MSmc) 1883.2 1153.1 + 63.3% 791.5 330.2 + 139.7% Captive retail 599.1 395.8 + 51.4% 215.0 144.2 + 49.1% Third retail 675.0 314.2 + 114.8% 327.9 142.2 + 130.6% Trading 609.1 443.1
Slide 13: Retail
Retail Retail FY10 FY09 % change 4Q10 4Q09 % change Sales (MSmc) 593.3 391.0 + 51.8% 212.5 144.8 + 46.7% Residential 130.6 123.0 + 6.1% 46.8 42.2 + 10.8% Small Business/Multipod 124.1 83.5 + 48.7% 48.4 35.7 + 35.5% Industrial 338.6 184.5 + 83.5% 117.4 66.9 + 75.3% EBITDA (M€) 2.0 0.3 + 542.6% 0.9 1.
Slide 14: FY11 Outlook
FY11 Outlook Annex S&S: For GY10-11 hedging on purchase portfolio and price/formulae volatility. Portfolio size reduction starting from gas year (GY) 11-12. BSmc 2.00 1.80 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 - Traded volume GY 09-10 Traded volume GY 10-11 Traded volume GY 11-12 Consolidated FY11
Slide 15: Company Profile
Company Profile Annex Shareholding Share information Share price performance 7 25000 N. of share: 44,909,620 6.5 24000 Price as of 03/22/2011: € 3,97 per share 6 23000 22000 5.5 Mkt capitalization: € 178,291,191 21000 5 20000 Italian Stock Exchange – segment MTA 4.5 19000 4 18000 Own shares as of 03
Slide 16: Disclaimer
Disclaimer This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Gas Plus. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are state