Acea S.p.a. · MIL:ACE
Acea — Q1 2022 Earnings Presentation
15 slides from Acea's earnings presentation, May 11, 2022
Slide 1: Acea Group 1Q 2022 Results
AC E A G RO U P 1 Q 2 0 2 2 R E S U LT S RO M E , 1 1 M AY 2 0 2 2
Slide 2: Performance and Delivery
PERFORMANCE AND DELIVERY A S T RO N G , R E S I L I E N T B U S I N E S S M O D E L +2% +20% -3% -3% 3.08x 2022 GUIDANCE CONFIRMED EBITDA CAPEX NET DEBT +2%/+4% BROADLY IN LINE €4.2/4.3B VERSUS 2021 WITH 2021 ARERA Resolution 183/2022 (26 April 2022) Incentive mechanism for technical quality in the
Slide 3: Key Financial Highlights
RESULTS IQ 2022 KEY FINANCIAL HIGHLIGHTS (€M) 1Q 2022 1Q 2021 % CHANGE (A) (B) (A/B) CONSOLIDATED REVENUE 1,192.5 929.9 +28.2% KEY FINANCIAL INDICATORS CONFIRM EBITDA 318.2 311.5 +2.1% CONSTANT GROWTH TREND EBIT 153.8 155.5 -1.1% GROUP NET PROFIT 99.4* 83.1 +19.6% CAPEX** 222.4 228.7 -2.8% 31 Mar 31
Slide 4: EBITDA
RESULTS IQ 2022 E B I T DA 9% (€M) EBITDA 311.5 2.3 10.0 6.9 318.2 EBITDA 52% IQ 2022 27% (3.2) (7.2) (2.1) 1Q 2021 WATER ENERGY GENERATION COMMERCIAL & ENVIRONMENT OTHER BUSINESSES* 1Q 2022 INFRASTRUCTURE TRADING AND HOLDCO EBITDA 5% 165 87 28 17 22 (1) 7% (€M) CHANGES IN SCOPE OF CONSOLIDATION ENE
Slide 5: Financial Highlights 1Q 2022 - Water
FINANCIAL HIGHLIGHTS 1Q 2022 HIGHLIGHTS (€M) 1Q 2022 1Q 2021 % change (A) (B) (A/B) EBITDA 165.2 163.0 +1.3% WATER ACEA ATO2 109.9 105.9 +3.8% INCLUDING GAS DISTRIBUTION BUSINESS ACEA ATO5 8.6 8.9 -3.4% Gori 17.7 21.2 -16.5% Adf 16.3 16.2 +0.6% Closing of agreement between the Consortium establish
Slide 6: Financial and Operational Highlights 1Q 2022 - Energy Infrastructure
FINANCIAL AND OPERATIONAL HIGHLIGHTS 1Q 2022 HIGHLIGHTS TOTAL NUMBER ELECTRICITY OF PODs DISTRIBUTED (GWh) (‘000s) ENERGY (€M) 1Q 2022 1Q 2021 % change INFRASTRUCTURE (A) (B) (A/B) 1,637 1,646 2,197 2,317 EBITDA 86.5 89.7 -3.6% - areti 87.1 90.6 -3.9% - Public lighting (0.6) (0.9) n/s CAPEX 68.7 70.
Slide 7: Financial and Operational Highlights 1Q 2022 - Generation
FINANCIAL AND OPERATIONAL HIGHLIGHTS 1Q 2022 HIGHLIGHTS TOTAL ELECTRICITY PRODUCED (GWh) GENERATION (€M) 1Q 2022 1Q 2021 % change (A) (B) (A/B) 244 * 209 * EBITDA 27.7 17.7 +56.5% Closing of agreement with Equitix for the sale of a majority stake in the holding company to which Acea’s photovoltaic
Slide 8: Financial and Operational Highlights 1Q 2022 - Commercial & Trading
FINANCIAL AND OPERATIONAL HIGHLIGHTS 1Q 2022 HIGHLIGHTS (€M) 1Q 2022 1Q 2021 % change (A) (B) (A/B) EBITDA 17.5 24.7 -29.1% COMMERCIAL & CAPEX 10.7 16.1 -33.5% TRADING TOTAL ENERGY SOLD NUMBER OF TOTAL GAS SOLD NUMBER OF GAS (GWH) ELECTRICITY (Mm c 3) CUSTOMERS (‘000s) CUSTOMERS (‘000s) CHANGE IN EB
Slide 9: Financial and Operational Highlights 1Q 2022 - Environment
FINANCIAL AND OPERATIONAL HIGHLIGHTS 1Q 2022 HIGHLIGHTS 1Q 2022 1Q 2021 % change (€M) (A) (B) (A/B) EBITDA 21.9 15.0 +46.0% ENVIRONMENT CAPEX 8.5 6.9 +23.2% TREATMENT AND DISPOSAL ELECTRICITY SOLD (KTONNES) (GWh) Acquisition of 70% of S.E.R.Plast and 60% of Meg, companies operating in the plastic
Slide 10: EBIT and Net Profit 1Q 2022
EBIT AND NET PROFIT 1Q 2022 155.5 153.8 152.7 132.9 20.7 Capital gain on sale of photovoltaic assets 99.4* 83.1 132.0 1Q 21 1Q 22 1Q 21 1Q 22 1Q 21 1Q 22 (in line with 1Q 2021) (€m) 1Q 2022 1Q 2021 % CHANGE DEPRECIATION 140.7 130.4 +7.9% IMPAIRMENTS 21.9 23.4 -6.4% PROVISIONS 1.8 2.2 -18.2% TOTAL 16
Slide 11: Capex 1Q 2022
CAPEX 1Q 2022 INVESTMENT IN INFRASTRUCTURE DEVELOPMENT AND MAINTENANCE 85% 15% 229 1 2 222 (1) (3) (6) 1Q 2021 WATER ENERGY GENERATION COMMERCIAL & ENVIRONMENT OTHER 1Q 2022 INFRASTRUCTURE TRADING BUSINESSES ^ AND HOLDCO Investment in regulated CAPEX 119* 69 8 11 7 businesses 8 (€M) Investment in no
Slide 12: Cash Flow 1Q 2022
CASH FLOW 1Q 2022 (€M) 1Q 2022 1Q 2021 EBITDA 318 312 CHANGE IN WORKING CAPITAL (80) (128) CAPEX (222) (229) F R E E C A S H F L OW 15 (46) FINANCE INCOME/(COSTS) (22) (23) CHANGE IN PROVISIONS (29) (23) OTHER (7) (6) M&A 145* (8) IFRS 16 (4) - T O TA L C A S H F L O W 98 (105) EBITDA 1Q CHANGE IN C
Slide 13: Results 1Q 2022 - Solid Financial Structure
RESULTS 1Q 2022 SOLID FINANCIAL STRUCTURE 31 Mar 2022 31 Dec 2021 31 Mar 2021 CHANGE CHANGE (€M) (A) (B) (C) (A-B) (A-C) NET DEBT/ NET DEBT/ Net debt/(funds) 3,890.3 3,988.4 3,654.1 (98.1) 236.2 EBITDA LTM EBITDA 31 Mar 2022 31 Dec 2021 Medium/long-term 4,484.6 4,792.0 4,949.2 307.4 (464.6) Short-te
Slide 14: Q&A Session
Q&A SESSION AC E A G R O U P I Q 2 0 2 2 R E S U LT S RO M E , 1 1 M AY 2 0 2 2 14
Slide 15: Disclaimer
DISCLAIMER THIS PRESENTATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS THAT REFLECT THE COMPANY’S MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND FINANCIAL AND OPERATIONAL PERFORMANCE OF THE COMPANY AND ITS SUBSIDIARIES. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON ACEA S.P.A.’S CURR