Athens Water Supply And Sewerage Company S.a. · ATHEX:EYDAP
Athens Water Supply And Sewerage — Eydap — H1 2021 Earnings Presentation
32 slides from Athens Water Supply And Sewerage's earnings presentation, September 2021
Slide 1: Analysts' Briefing for the First Half of 2021 Financial Results
SS ANALYSTS’ BRIEFING AN FOR THE FIRST HALF ‘“& OF 2021 FINANCIAL RESULTS SEPTEMBER 2021 @EYDAP
Slide 2: Key financials of First Half 2021
Key financials of First Half 2021 Steady course towards our development strategy, within the frame of the new Agreement with the Greek State. The turnover of the Company amounted to 156.0 million euros from 158.3 million euros in the first half of 2020, decreased by 1.4%. Total consumption incre
Slide 3: Negotiations with the Greek State
Negotiations with the Greek State On June 30th, 2021, the exclusive right to provide water supply and sewerage services granted to EYDAP SA was renewed until 31.12.2040. The terms of the renewal of the right, the price paid by EYDAP SA for the supply of raw water, the specific rights and obligatio
Slide 4: During the first half of 2021: Environment
During the first half of 2021: Environment • The de-carbonization strategy of the Company was concluded. • The contracts for the construction of sewerage networks in the Municipalities of Rafina- Pikermi (€ 31.6 million) and Pallini (€ 28.3 million) were signed. • The tender process for the construc
Slide 5: During the first half of 2021: Society
During the first half of 2021: Society • The Company managed the covid-19 pandemic without affecting its operations and received an accreditation from TUV for its outstanding performance. • The new Employment Collective Agreement was signed. • Digital customer services and digital platforms promotin
Slide 6: During the first half of 2021: Governance
During the first half of 2021: Governance • The new organizational structure of the Company came into effect, and 30 managerial positions were filled via internal evaluation procedures. • The Transformation Division was staffed and projects that will contribute to the completion of the transformatio
Slide 7: ESG in the core of our values
ESG in the core of our values ENVIRONMENT SOCIETY GOVERNANCE SAFETY - Smart grid - Social Tariffs - Alignment with - ΙοΤ - Continuous corporate - CO2 emissions water quality governance controls framework EFFICIENCY reduction - Water reuse - Local - ESG disclosure - Sewer Mining communities according
Slide 8: Financial Results
FINANCIAL RESULTS SEPTEMBER 2021
Slide 9: Financial Results 1H 2021 (Company)
Financial Results 1H 2021 (Company) In thousands of € 1H 2019 1H 2020 1H 2021 Y-O-Y Turnover 151.654 158.274 156.034 -1,4% Gross Profits 72.291 81.878 71.843 -12,3% % of turnover 48% 52% 46% EBITDA 46.914 36.691 35.328 -3,7% % of turnover 31% 23% 23% EBIT 27.881 18.596 17.779 -4,4% % of turnover 18%
Slide 10: EBITDA 1H 2021
EBITDA 1H 2021 (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
Slide 11: Earnings Before Taxes (EBT) 1H 2021
Earnings Before Taxes (EBT) 1Η 2021 (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
Slide 12: Turnover Breakdown
Turnover Breakdown 1Η 2021 (amounts in thousands of €) TURNOVER 1H 2019 1H 2020 1H 2021 Y-O-Y Revenues from Water Supply and Related Services 102.170 106.110 105.925 -0,2% % of turnover 67,4% 67,0% 67,9% Revenues from Sewerage Services 48.706 51.215 49.392 -3,6% % of turnover 32,1% 32,4% 31,7% Reven
Slide 13: Turnover 1H 2021
Turnover 1Η 2021 (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
Slide 14: Revenues from Water Supply and Related Services
Revenues from Water Supply and Related Services 1Η 2021 (amounts in thousands of €) WATER SUPPLY AND RELATED SERVICES 1H 2019 1H 2020 1H 2021 Υ-Ο-Υ Revenues from Water Consumption 98.526 104.391 103.817 -0,5% % of the total of water supply and related services 96,4% 98,4% 98,0% New Water Supply Conn
Slide 15: Revenues from Water Supply and Related Services
Revenues from Water Supply and Related Services 1Η 2021 (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
Slide 16: Revenues from Sewerage Services
Revenues from Sewerage Services 1Η 2021 (amounts in thousands of €) Sewerage Revenues 1H 2019 1H 2020 1H 2021 Υ-Ο-Υ Revenues from Sewer Usage 47.156 50.057 48.126 -3,9% % of the total Revenues from Sewerage Services 96,8% 97,7% 97,4% Connection Fees 213 225 368 63,5% % of the total Revenues from Sew
Slide 17: Revenues from Sewerage Services
Revenues from Sewerage Services 1Η 2021 (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
Slide 18: Operating Expenses Breakdown
Operating Expenses Breakdown* 1Η 2021 (amounts in thousands of €) OPERATING EXPENSES* 1H 2019 1H 2020 1H 2021 Υ-O-Y Personnel Costs 59.778 58.702 61.352 4,5% % of Operating Expenses 57% 48% 51% Utility Expenses 18.129 18.288 19.658 7,5% % of Operating Expenses 17% 15% 16% Third-party Expenses and Fe
Slide 19: Operating Expenses Breakdown 1H 2021
Operating Expenses Breakdown* 1Η 2021 *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
Slide 20: Personnel Costs Breakdown
Personnel Costs Breakdown 1Η 2021 (amounts in thousands of €) PERSONNEL COSTS 1H 2019 1H 2020 1H 2021 Υ-O-Y Wages and Salaries 44.888 43.815 46.233 6% % of the total of Personnel Costs 75% 75% 75% Social Security Costs 10.294 10.038 9.537 -5% % of the total of Personnel Costs 17% 17% 16% Provisions
Slide 21: Personnel Costs
Personnel Costs 1Η 2021 (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
Slide 22: Breakdown of Various Provisions
Breakdown of Various Provisions 1Η 2021 (amounts in thousands of €) VARIOUS PROVISIONS 1H 2019 1H 2020 1H 2021 Y-o-Y Bad Debt Expenses * -1.841 17.237 3.447 -80% Provisions for Litigation Expenses -1.744 -4.121 -1.017 -75% Inventory Write-offs (reversals) 210 218 281 29% Total of Various Provisions
Slide 23: Breakdown of Third-Party Expenses & Fees
Breakdown of Third-Party Expenses & Fees 1Η 2021 (amounts in thousands of €) THIRD-PARTY EXPENSES & FEES 1H 2019 1H 2020 1H 2021 Y-o-Y Psytallia WWTP 13.805 13.807 14.141 2% % of the total Third-Party Expenses and Fees 59% 56% 54% Metamorphosi WWTP 1.301 1.299 1.084 -17% % of the total Third-Party E
Slide 24: Third-Party Expenses & Fees
Third-Party Expenses & Fees 1Η 2021 (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
Slide 25: Breakdown of Utility Expenses
Breakdown of Utility Expenses 1Η 2021 (amounts in thousands of €) UTILITY EXPENSES 1H 2019 1H 2020 1H 2021 Y-o-Y Electricity 8.108 8.515 9.328 10% % of the total of Utility Expenses 45% 47% 47% Natural Gas 191 137 171 24% % of the total of Utility Expenses 1% 1% 1% Rents 4.069 4.270 4.463 5% % of th
Slide 26: Utility Expenses
Utility Expenses 1Η 2021 (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
Slide 27: Breakdown of Other Expenses
Breakdown of Other Expenses 1Η 2021 (amounts in thousands of €) OTHER EXPENSES 1H 2019 1H 2020 1H 2021 Y-o-Y Taxes and duties 2.253 2.404 3.498 46% % of the total of Other Expenses 40% 34% 54% Consumables 906 831 947 14% % of the total of Other Expenses 16% 12% 15% Promotion and Advertising Expenses
Slide 28: Other Expenses
Other Expenses 1Η 2021 (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
Slide 29: Balance Sheet Items
Balance Sheet Items 1Η 2021 (amounts in thousands of €) ASSETS 2020 1Η 2021 1Η21-20% Tangible Assets 788.727 781.784 -0,9% Intagible Assets 562 722 28,5% Right-of-Use Assets 2.722 1.313 -51,8% Other Non Current Assets 140.888 131.887 -6,4% Inventories 14.297 13.150 -8,0% Trade Receivables-Contract A
Slide 30: Breakdown Receivables from Customers and Contract Assets
Breakdown Receivables from Customers and Contract Assets 1Η 2021 (amounts in thousands of €) Receivables from Customers and Contract Assets 2020 1Η 2021 Receivables from Customers and Contract Assets before provisions 278.502 302.751 Provisions for doubtful receivables and Contract Assets -99.573 -1
Slide 31: Cash Flow Statement
Cash Flow Statement 1Η 2021 (amounts in thousands of €) 1H 2019 1H 2020 1H 2021 Cash Flow from operating activities Profit before tax 34.537 24.034 23.897 Adjustments for non-cash items 9.702 25.083 13.449 Adjustments in operating assets and liabilities 1.058 -17.755 -18.550 Late payment charges col
Slide 32: Thank you!
Thank you! @EYDAP