Slide 1: 1Q2024 Results
1Q2024 Results People for Rome, 9 May 2024 sustainable Roma, 5 marzo 2024 0 infrastructure
Slide 2: Agenda
Challenging market environment Agenda 1Q2024 Results Appendix 1
Slide 3: Regulatory and Market Environment
REGULATORY AND MARKET ENVIRONMENT DOWNTURN IN THE PRICE OF COMMODITIES Regulation Commodity prices and inflation Interest rates • Water: application of Water Service Tariff Method 4 (MTI-4, for • 2024 energy price (SNP) falling to regulatory period 2024-2029) with an 92€/MWh (approximately -65€/MWh
Slide 4: Agenda
Challenging Market Environment Agenda 1Q2024 results Appendix 3
Slide 5: 1Q2024 Results
1Q2024 RESULTS I N C R E A S I N G R E S U LT S , I N L I N E W I T H 2 0 2 4 G U I D A N C E Revenues +1% vs 2023 Group revenues equal to €1.0bn, of which around €0.6bn relating to regulated businesses, regulated businesses(1) up by +1% compared to 2023 Reported EBITDA amounting to €357m, +€21m com
Slide 6: Overview of 1Q2024 Results
OVERVIEW OF 1Q2024 RESULTS Increasing EBITDA due to organic ECONOMIC AND FINANCIAL SOLIDITY growth of the regulated businesses EBITDA, €m CAPEX, €m and the performance of the Commercial Non-recurring events and changes in scope Grant-funded sector, which offset the negative impact of REVENUES1 1,240
Slide 7: 1Q2024 EBITDA
1Q2024 EBITDA G R O W T H D R I V E N B Y O R G A N I C D E V E L O P M E N T O F R E G U L AT E D B U S I N E S S E S EBITDA, €m 357 8 43 2 186 14 104 WATER GRIDS AND PUBLIC ENVIRONMENT GENERATION COMMERCIAL OTHER 1Q2024 EBITDA ITALY LIGHTING BUSINESSES2 52% 29% 4% 2% 12% 1% (85%1) +7% 336 336 360
Slide 8: 1Q2024 Net Profit
1Q2024 NET PROFIT O P E R AT I O N A L M A N A G E M E N T D R I V E S T H E I N C R E A S E I N N E T P R O F I T NET PROFIT, €m +17% 85 83 0 (2) 73 73 12 0 1Q2023 Change in scope 1Q2023 Operational Financial 1Q2024 Chg in scope and 1Q2024 net profit and non-recurring recurring management managemen
Slide 9: 1Q2024 CAPEX
1Q2024 CAPEX I N V E S T M E N T P L A N C O N T I N U E S W I T H F O C U S O N R E G U L AT E D B U S I N E S S E S CAPEX 1 , €m 5 16 4 57 10 247 155 63% 23% 4% 2% 6% 2% (90%3) WATER GRIDS AND PUBLIC ENVIRONMENT GENERATION COMMERCIAL OTHER 1Q2024 CAPEX ITALY LIGHTING BUSINESSES2 • RECLAMATION AND
Slide 10: 1Q2024 Cash Flow
1Q2024 CASH FLOW P E R F O R M A N C E I N L I N E W I T H F O R E C A S T S A N D Y E A R - E N D G U I DA N C E CASH FLOW, €m 1Q2024 Operating CF (-32M€) reflects the absorption of working capital mainly due to regulatory items and the lower amount of receivables sold. 357 (100) (16) 210 (31) (242
Slide 11: 1Q2024 Financial Structure
1Q2024 FINANCIAL STRUCTURE S L I G H T I M P R O V E M E N T I N L E V E R A G E , A V E R A G E C O S T O F D E B T A P P R O X I M A T E LY 2 % FY23-1Q2024 NFP, €m Leverage DEC 23 1Q2024 ∆ 1Q24 vs DEC 23 NET D EB T /EB I TDA NET D EB T /EB I TDA 31/03/2024 31/12/2023 NFP 4,847 4,913 66 3.48x 3.49x
Slide 12: Water Italy: EBITDA Growth +6%
WATER ITALY1: EBITDA GROWTH +6% O RG A N I C G ROW T H D R I V E N BY I N V E S T M E N T S Revenues, €m EBITDA, €m +6% 11 186 Increasing EBITDA (+€11m): 356 357 175 Tariff growth (+€14m fully consolidated +1 companies, net of components covering pass- (0%) through charges) Reduction in results of c
Slide 13: Grids and Public Lighting: EBITDA Growth +13%
GRIDS AND PUBLIC LIGHTING: EBITDA GROWTH +13% O RG A N I C G ROW T H D R I V E N BY I N V E S T M E N T S Revenues, €m EBITDA, €m +13% Increasing EBITDA (+€12m): 156 171 92 12 104 Increase in electricity +15 distribution tariffs (WACC from (+10%) 5.2% to 6.0%) 2G power meters installed in 1Q2023 1Q2
Slide 14: Environment: Growth in Investments
ENVIRONMENT: GROWTH IN INVESTMENTS M A RG I N S A F F E C T E D BY T H E E N E RG Y S C E N A R I O Revenues, €m EBITDA main drivers, €m Non-recurring events and changes in scope -19% 83 21 21 17 71 0 (4) 14 0 (3) -5 83 78 (-6%) 1Q2023 Change in scope 1Q2023 Energy scenario 1Q2024 Change in scope 1Q
Slide 15: Generation: Energy Scenario and Lower Volumes
GENERATION: ENERGY SCENARIO AND LOWER VOLUMES M A RG I N S A R E A F F E C T E D BY LOW E R H Y D RO E L E C T R I C P RO D U C T I O N A N D T H E E N E RG Y S C E N A R I O Revenues, €m EBITDA, €m -42% Decreasing EBITDA (-6M€): 37 Reduction in energy market 14 prices (SNP -65€/MWh vs 1Q2023) 23 8
Slide 16: Commercial: EBITDA Growth +32%
COMMERCIAL: EBITDA GROWTH +32% G ROW T H I N F R E E M A R K E T C U S TO M E R B A S E Revenues, €m EBITDA, €m 714 +32% EBITDA increasing (+10M€): 466 10 43 Increase in margins and customer -248 33 base (-35%) 1Q2023 1Q2024 1Q2023 Organic 1Q2024 growth Total electricity Number of electricity Total
Slide 17: Agenda
Challenging market environment Agenda 1Q2024 results Appendix 16
Slide 18: Sustainability rating
Sustainability rating 64/100 "EE+" "A-" "A" Positive Outlook Leadership 19.7 "ESG 81.58/100 ESG risk Identity rating Leader" 17 17
Slide 19: Consolidated Income Statement as at 31/03/24
CONSOLIDATED INCOME STATEMENT AS AT 31/03/24 Consolidated Income Statement (€/000) 31/03/2024 31/03/2023 Increase/(Decrease) Sales and service revenues 1,003,278 1,216,006 (212,728) Other operating income 23,036 23,859 (823) Consolidated net revenue 1,026,314 1,239,864 (213,550) Staff costs 89,432 8
Slide 20: Consolidated Balance Sheet as at 31/03/24
CONSOLIDATED BALANCE SHEET AS AT 31/03/24 Consolidated Statement of Financial Position (€/000) 31/03/2024 31/12/2023 Increase/(Decrease) Property, plant and equipment 3,358,255 3,334,868 23,387 Investment property 1,977 1,990 (13) Goodwill 254,719 254,626 93 Concessions and infrastructure rights 3,8
Slide 21: Q&A
Q& People for sustainable Roma, 5 marzo 2024 20 infrastructure
Slide 22: Disclaimer
DISCLAIMER THIS PRESENTATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS THAT REFLECT THE CURRENT VIEWS OF THE MANAGEMENT WITH REGARD TO FUTURE EVENTS AND THE FINANCIAL AND OPERATIONAL PERFORMANCE OF THE COMPANY AND THE GROUP. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON CURRENT EXPECTATIONS AND PR