Athens Water Supply And Sewerage Company S.a. · ATHEX:EYDAP
Athens Water Supply And Sewerage — FY2023 Earnings Presentation
39 slides from Athens Water Supply And Sewerage's earnings presentation, Apr 25, 2024
Slide 1: Financial Results 2023
Financial Results 2023 Harry Sachinis CEO 25 th of April 2024 Yliki Reservoir
Slide 2: We improved our financials by increasing turnover and reducing operating costs
We improved our financials by increasing turnover and reducing operating costs Turnover Operating cost Profit before tax 2.4% -1.8% 163% € 343.5 mn € 351.5 mn € 335.8 mn € 329.8 mn € 10.6 mn € 28 mn. 2022 2023 2022 2023 2022 2023 Increased turnover by 2.4%. Reduced operating costs by After the effec
Slide 3: We have established the foundations for sustainable development
We have established the foundations for sustainable development Exclusive concession for Tripled Investments the next 17 years New Regulatory Framework EYDAP renewed the exclusivity The Regulated Asset Base EYDAP's strategic investments for the provision of services and framework expected to be amou
Slide 4: We enhance our flexibilities for growth
We enhance our flexibilities for growth The law to be voted on this week, regarding climate change also contains favorable regulations for EYDAP in matters such as: Carrying out operation and maintenance activities outside Attica for water supply and sewage networks and facilities, Ability to acquir
Slide 5: We have tripled investments since 2019
We have tripled investments since 2019… Planned Investments 2.1 billion in the decade Eastern Attica Projects - 90% of the projects have been funded by the EU ~ 958 million € Water supply projects (upgrades of networks and facilities, smart meters, etc.) ~ 681 million € Sewage projects (upgrades of
Slide 6: We are changing Eastern Attica and upgrading Western Attica
We are changing Eastern Attica and.... We build We operate 3 Eastern Attica Western Attica ...we are upgrading Western Attica 6
Slide 7: We are organizing a progressive action plan against climate change
We are organizing a progressive action plan against climate change…. OPTIMIZING THE EFFICIENCY OF PUMPING STATIONS 1 PHOTOVOLTAIC 1.97 MWH BIOCLIMATIC BUILDING NEW ELECTRIC FLEET PHOTOVOLTAIC PUMP SAVING 6 HYDROELECTRIC 4,650 KWH NEW HYDROELECTRIC SMART BIOGAS NETWORK HADRANIAN AERIVER FOR IRRIGATIO
Slide 8: ...and a potential water shortage
...and a potential water shortage SHORT TERM Pumping from the Yliki branch with the PLAN operation of the Mavrosouvala wells and the pumping stations of the Yliki branch. Increase in the pumping of the Yliki branch and activation of wells MID TERM PLAN of the Middle River Voiotikos Kifissos which, t
Slide 9: Improving the experience of our consumers
Improving the experience of our consumers... ... Preference for direct water supply from EYDAP by 62% than by Municipalities ( vs 29%, 2019) Overall customer satisfaction 75% Overall satisfaction regarding digital services more than 80% Net Promoter Score +32 1 out of 2 would recommend the Company 5
Slide 10: ...and we are committed to increasing the value for all Shareholders
...and we are committed to increasing the value for all Shareholdersers New regulatory framework to ensure stability and predictability of revenues 20-year exclusive concession Rapidly growing investor base ESG Ratings upgrade Commitment to achieve Net Zero 50% Effective governance: 30 , 89 % +1One
Slide 11: Financial Highlights
Financial Highlights 2023 Ma r a t hon Da m
Slide 12: Financial Results 2023 (Company)
Financial Results 2023 (Company) In thousands of € 2021 2022 2023 Y-O-Y Turnover 360.753 343.477 351.574 2,4% Gross Profits 156.918 121.548 133.836 10,1% % of turnover 43,5% 35,4% 38,1% EBITDA 85.484 38.998 60.824 56% % of turnover 23,7% 11,4% 17,3% EBIT 46.310 117 21.517 18.332% % of turnover 12,8%
Slide 13: EBITDA 2023
EBITDA 2023 (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 14
Slide 14: EBITDA Without Various Provisions
EBITDA Without Various Provisions 2023 (amounts in thousands of €) In thousands of € 2021 2022 2023 Y-O-Y Y-O-Y % EBITDA 85.484 38.998 60.824 21.826 56% Various Provisions 4.250 -10.847 1.307 12.154 112% EBITDA-Various Provisions 89.734 28.152 62.131 33.980 121% VARIOUS PROVISIONS 202 2022 2023 Y-o-
Slide 15: EBITDA Without Various Provisions
EBITDA Without Various Provisions 2023 (amounts in thousands of €) 96% of the total change is attributing to the first 5 factors 17
Slide 16: Earnings Before Taxes (EBT) 2023
Earnings Before Taxes (EBT) 2023 (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 th e company's 15 profits it is displayed in green while if it is negative in orange
Slide 17: Turnover Breakdown
Turnover Breakdown 2023 (amounts in thousands of €) TURNOVER 2021 2022 2023 Y-O-Y Revenues from Water Supply and Related Services 222.324 210.479 215.410 2,3% % of turnover 97,6% 96,1% 96,6% Revenues from Sewerage Services 3.156 3.899 3.985 2,2% % of turnover 1,4% 1,8% 1,8% Revenues from Electric Po
Slide 18: Turnover
Turnover 2023 (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 19
Slide 19: Revenues from Water Supply and Related Services
Revenues from Water Supply and Related Services 2023 (amounts in thousands of €) WATER SUPPLY AND RELATED SERVICES 2021 2022 2023 Υ-Ο-Υ Revenues from Water Consumption 222.324 210.479 215.410 2,3% % of the total of water supply and related services 97,6% 96,1% 96,6% New Water Supply Connections 3.15
Slide 20: Revenues from Water Supply and Related Services
Revenues from Water Supply and Related Services 2023 (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 21
Slide 21: Revenues from Sewerage Services
Revenues from Sewerage Services 2023 (amounts in thousands of €) Sewerage Revenues 2021 2022 2023 Υ-Ο-Υ Revenues from Sewer Usage 103.882 94.999 99.077 4,3% % of the total Revenues from Sewerage Services 97,7% 97,5% 97,5% Connection Fees 629 710 868 22,2% % of the total Revenues from Sewerage Servic
Slide 22: Revenues from Sewerage Services
Revenues from Sewerage Services 2023 (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 23
Slide 23: Operating Expenses Breakdown
Operating Expenses Breakdown* 2023 (amounts in thousands of €) OPERATING EXPENSES* 2021 2022 2023 Υ-O-Y Personnel Costs 127.130 132.054 128.620 -3% % of Operating Expenses 46% 44% 44% Utility Expenses 44.919 68.064 55.919 -18% % of Operating Expenses 16% 23% 19% Third-party Expenses and Fees 54.130
Slide 24: Operating Expenses Breakdown
Operating Expenses Breakdown* 2023 (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 25 *before D&A expenses
Slide 25: Personnel Costs Breakdown
Personnel Costs Breakdown 2023 (amounts in thousands of €) PERSONNEL COSTS 2021 2022 2023 Υ-O-Y Wages and Salaries 93.854 95.381 94.797 -1% % of the total of Personnel Costs 74% 72% 74% Social Security Costs 19.206 23.545 22.045 -6% % of the total of Personnel Costs 15% 18% 17% Provisions for post-e
Slide 26: Personnel Costs
Personnel Costs 2023 (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 27
Slide 27: Breakdown of Various Provisions
Breakdown of Various Provisions 2023 (amounts in thousands of €) VARIOUS PROVISIONS 2021 2022 2023 Y-o-Y Bad Debt Expenses * 3.733 -3.703 -477 87% Provisions for Litigation Expenses 498 -7.512 1.992 127% Inventory Write-offs (reversals) 19 369 -209 -157% Total of Various Provisions 4.250 -10.847 1.3
Slide 28: Breakdown of Third-Party Expenses & Fees
Breakdown of Third-Party Expenses & Fees 2023 (amounts in thousands of €) THIRD-PARTY EXPENSES & FEES 2021 2022 2023 Y-o-Y Psytallia WWTP 27.972 28.744 25.358 -12% % of the total Third-Party Expenses and Fees 52% 48% 44% Metamorphosi WWTP 1.956 2.251 1.977 -12% % of the total Third-Party Expenses an
Slide 29: Third-Party Expenses & Fees
Third-Party Expenses & Fees 2023 (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 30
Slide 30: Breakdown of Third-Party Expenses & Fees
Breakdown of Third-Party Expenses & Fees 2023 (amounts in thousands of €) THIRD-PARTY EXPENSES & FEES 2021 2022 2023 Y-o-Y O&M Contractors 33.484 33.957 30.963 -9% Personnel Contractors 8.069 9.129 10.709 17% Various Third Party Expenses without tax 3.536 5.711 5.225 -9% Security and Fire protection
Slide 31: Third-Party Expenses & Fees
Third-Party Expenses & Fees 2023 (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 32
Slide 32: Breakdown of Utility Expenses
Breakdown of Utility Expenses 2023 (amounts in thousands of €) UTILITY EXPENSES 2021 2022 2023 Y-o-Y Electricity 22.376 44.409 32.873 -26% % of the total of Utility Expenses 50% 65% 59% Natural Gas 675 644 107 -83% % of the total of Utility Expenses 2% 1% 0% Rents 9.187 9.131 8.733 -4% % of the tota
Slide 33: Utility Expenses
Utility Expenses 2023 (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 34
Slide 34: Breakdown of Other Expenses
Breakdown of Other Expenses 2023 (amounts in thousands of €) OTHER EXPENSES 2021 2022 2023 Y-o-Y Taxes and duties 5.803 4.895 4.700 -4% % of the total of Other Expenses 38% 36% 36% Consumables 2.465 3.213 3.130 -3% % of the total of Other Expenses 16% 24% 24% Promotion and Advertising Expenses 1.449
Slide 35: Other Expenses
Other Expenses 2023 (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 36
Slide 36: Balance Sheet Items
Balance Sheet Items 2023 (amounts in thousands of €) ASSETS 2022 2023 23-22% Tangible Assets 778.980 783.757 0,6% Intagible Assets 79.964 75.684 -5,4% Right-of-Use Assets 1.006 2.949 193,3% Other Non Current Assets 82.884 89.930 8,5% Inventories 16.948 20.354 20,1% Trade Receivables-Contract Assets
Slide 37: Breakdown Receivables from Customers and Contract Assets
Breakdown Receivables from Customers and Contract Assets 2023 (amounts in thousands of €) Receivables from Customers and Contract Assets 2022 2023 Receivables from Customers and Contract Assets before provisions 269.380 268.980 Provisions for doubtful receivables and Contract Assets -99.603 -99.126
Slide 38: Cash Flow Statement
Cash Flow Statement 2023 (amounts in thousands of €) 2021 2022 2023 Cash Flow from operating 59.411 10.638 27.988 activities Profit before tax Adjustments for non-cash items 24.421 13.874 32.347 Adjustments in operating assets and liabilities -23.095 -88.930 -45.210 Late payment charges collected 6.
Slide 39: EYDAP
ΕΥΔΑΠ Α.Ε. ΕΤΑΙΡΕΙΑ ΥΔΡΕΥΣΗΣ & ΑΠΟΧΕΤΕΥΣΗΣ ΠΡΩΤΕΥΟΥΣΑ ΩΡΩΠΟΥ156. ΓΑΛΑΤΣΙ, Τ.Κ. 11146 EYDAPP 39
Athens Water Supply and Sewerage Company (EYDAP) — FY2023 Earnings Presentation on 6ix