Gek Terna S.a. · ATHEX:GEKTERNA
Gek Terna — Q1 2023 Earnings Presentation
15 slides from Gek Terna's earnings presentation, May 2023
Slide 1: 1Q 2023 Results Presentation
1Q 2023 Results Presentation May 2023
Slide 2: 1Q 2023 Highlights
1Q 2023 Highlights Profitability momentum sustained benefiting from diversified portfolio - Growth in Construction and Concessions more than counterbalanced lower contribution from Energy segment GEK TERNA ▪ Growth in revenues and earnings during 1Q 2023 Group ❑ Group Revenues at € 819.7m (+29.3% y-
Slide 3: Group Revenues and adj. EBITDA
Group Revenues and adj. EBITDA Growth in Construction and Concessions more than mitigates lower contribution from Energy Revenues adj. EBITDA 819,7 123,6 105,0 25,7 Thermal Energy Thermal Energy 634,0 30,4 431,8 RES RES 42,4 405,9 59,7 57,8 Construction Construction 34,0 70,3 297,6 8,3 Concessions C
Slide 4: Group Revenues adj. EBITDA per segment
Group Revenues adj. EBITDA per segment Revenues 1Q 2022 1Q 2023 y-o-y % of total (1Q 2023) (1) €m Construction 150.6 297.6 97.5% 35.3% RES 70.3 59.7 -15.0% 7.1% Concessions 41.2 48.1 16.7% 5.7% Thermal Energy generation supply and trading 405.9 431.8 6.4% 51.3% HQ and Other 4.3 4.8 10.3% 0.6% Elimin
Slide 5: Consolidated Income Statement
Consolidated Income Statement €m 1Q 2022 1Q 2023 y-o-y Revenues 634.0 819.7 29.3% ▪ Revenues and operating profitability increase driven by EBITDA 89.0 111.2 25.0% growth in construction and concessions Non-cash items(1) 16.0 12.4 adj. EBITDA 105.0 123.6 17.7% Net depreciation 28.2 33.7 EBIT 60.8 77
Slide 6: Debt highlights
Debt highlights Strong liquidity and stable leverage Group Cash and Cash Equivalent (1) (€ m) Group Gross Debt (€ m) 1.558 1.492 3.154 2.993 1.227 2.645 1Q 2022 FY 2022 1Q 2023 1Q 2022 FY 2022 1Q 2023 Group Net Debt (€ m) Group Net Debt / adj.EBITDA (x) 1.596 3,9 1.502 1.417 2,3 2,3 1Q 2022 FY 2022
Slide 7: Business Segments Review
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Slide 8: Concessions highlights
Concessions highlights (€m) 1Q 2022 1Q 2023 ▪ Traffic in motorways increases 10.2% y-o-y in 1Q 2023 following pick-up in economic activity and improved weather Revenues 41.2 48.1 conditions adj. EBITDA 19.3 27.9 ▪ Operating profitability grows in line with top line growth margin 46.8% 57.7% ❑ Profit
Slide 9: Construction highlights
Construction highlights (€m) 1Q 2022 1Q 2023 ▪ Backlog at new record high of € 5.5bn, following new project wins, despite accelerated execution of signed contracts Revenues 150.6 297.6 ❑ Scope for further increase in the coming periods adj. EBITDA 8.3 34.0 ▪ Revenues increase on the back of intensif
Slide 10: Energy from RES highlights
Energy from RES highlights (€m) 1Q 2022 1Q 2023 ▪ Installed capacity increases to 1,141MW following gradual erection of new wind park cluster in Evoia (vs. 906MW in Dec’22) Revenues 70.3 57.9 ❑ 235 MW added ytd in Evoia (~74% project adj. EBITDA 57.8 42.4 completion) - Completion scheduled for end 3
Slide 11: Thermal Energy Production, Supply and Trading
Thermal Energy Production, Supply and Trading (€m) 1Q 2022(1) 1Q 2023 ▪ Lower volumes as demand drops due to mild weather (especially January and March) Revenues 405.9 431.7 ❑ Market share gains in supply and generation support sales adj. EBITDA 30.4 25.7 ▪ Generation and supply with positive contri
Slide 12: Appendix
Appendix I. Performance by segment II. ESG highlights 12
Slide 13: Performance by Segment
Performance by Segment Thermal energy 1Q 2023 Hold Co and Construction RES Concessions generation, supply Eliminations Group (€ m) Other and trading Revenues 297.6 59.7 48.1 431.8 4.8 (22.3) 819.7 Gross profit 43.0 37.8 10.5 19.7 (1.3) (2.3) 107.5 adj.EBITDA 34.0 42.4 27.9 25.7 (4.2) (2.3) 123.6 EBI
Slide 14: ESG KPIs
ESG KPIs 2021 2022 People Total number of employees (Greece& Abroad) including JVs and subcontractors 5,470 6,730 Total number of employees (Greece& Abroad) 3,371 4,369 Percentage of female employees (Greece) 28.76% 25.72% Percentage of female employees (Abroad) 21.55% 16.00% Percentage of female em
Slide 15: Investors Contacts
Investors Contacts Argyris Gkonis - IR Officer agkonis@gekterna.com +30 210 6968499 Investor Relations Desk ir@gekterna.com +30 210 6968457 15