Gek Terna S.a. · ATHEX:GEKTERNA
Gek Terna — FY2021 Earnings Presentation
23 slides from Gek Terna's earnings presentation, April 2022
Slide 1: FY 2021 Results Presentation
FY 2021 Results Presentation April 2022
Slide 2: Group Structure
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Slide 3: FY 2021 Results Review
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Slide 4: FY 2021 Highlights
FY 2021 Highlights Increase of turnover and operating profitability (adjusted EBITDA) from continuing operations at historical high levels driven by RES and Thermal Energy & Trading 1 Revenues increased by €252.3m to €1,144.2m in 2021 compared to €891.9m in 2020, due to revenue increases in RES(
Slide 5: GEK Terna Group at a Glance
GEK Terna Group at a Glance FY 2021 Results(1) Adj. EBITDA(2) Breakdown (€m) €1,144.2m €323.5m 324 Revenue Adj. EBITDA(2) +6.4% 17.0% 306 7 285 280 281 28.3% €130.2m 162 Adj. EBITDA(2) 194 Net Income(1) 177 Margin 129 157 €2,596m €1,364m 102 Debt Cash 93 103 105 126 53 32 19 €6.5bn current business
Slide 6: Developments during the period by activity
Developments during the period by activity Activity Revenue €m(1) Successes Turnover increased by 14.2% vs corresponding period of 2020 Improved Y-o-Y Traffic levels by +13.5% 2020 151 GEK Terna SA - EGIS PROJECTS S.A. consortium has been declared the Preferred Bidder for Egnatia Odos Motorway
Slide 7: Optimal Balance Sheet Structure
Optimal Balance Sheet Structure GEK Terna Group funding strategy is based on autonomous funding by business unit along with corporate bond funding at the Holding Company level Debt Breakdown FY 2021 Most of the debt sits at Energy from Renewables and Concessions, the business units with the highes
Slide 8: Optimal Balance Sheet Structure - Group
Optimal Balance Sheet Structure - Group Adj. EBITDA Bridge (€m) from continuing operations +[22] +[65] (2) 324 (4) 242 Construction driven by margin expansion Adj. EBITDA 2020 Construction Concessions Energy Production Other Adj. EBITDA 2021 Weighted Average Group Cost of Debt Group Net Leverage Evo
Slide 9: Concessions Segment
Concessions Segment 9
Slide 10: Concessions overview
Concessions overview Kentriki Odos Concessions(1) 2019 2020 2021 Parking Total length: 231km Revenue 187.1 151.3 173 Parking stations all over Greece ‒ Equity(4) invested €67m (100%) ‒ 2,235 total spaces Adj. EBITDA(2) 103.1 105.3 101.8 ‒ Senior bank debt (non recourse): ‒ c.€10m investment €353
Slide 11: GEK Terna Group Concession Portfolio
GEK Terna Group Concession Portfolio The Group is ready to invest equity on the awarded projects with an average remaining life of c.35 years Commercial Project % Stake Equity to be deployed (€m) (2) Concession Expiration Operation 141 Kastelli airport 33% 2025 2055 (commenced deployment) Hellinikon
Slide 12: Construction Segment
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Slide 13: Construction
Construction Significant increase in construction backlog to €4.9bn through new contract wins Construction Overview Outlook Projects Completed & Under Construction Casino resort Limassol Nikola Tesla Airport Significant expansion of its construction backlog, which along with the projects to be sig
Slide 14: Backlog overview
Backlog overview Total backlog(1) of €4.9bn, €2.5bn of which already signed Signed Backlog Breakdown by Geography Largest project: Design and Construction of new international airport in Heraklion, Crete (€475m) 11% Greece Other projects include the construction of public projects, motorways, of
Slide 15: Energy Production Segment
Energy Production Segment 15
Slide 16: Energy Production – Renewable Energy (Terna Energy)
Energy Production – Renewable Energy (Terna Energy) Largest renewable energy platform in Greece with substantial operations abroad, targeting total installed capacity to reach 6.4 GW within the next seven-year period. Overview Installed Capacity Split by Country(2) Terna Energy is the largest rene
Slide 17: Overview of current portfolio and future pipeline
Overview of current portfolio and future pipeline Organic growth and value creation with a focused strategy and attractive pipeline Terna Energy EBITDA (€m) 182 168 (1) 162 148 (1) 129 116 99 74 2014 2015 2016 2017 2018 2019 2020 2021 Pipeline Project Type Capacity Capex Cash Grant/ Tax Project Equi
Slide 18: Thermal Energy Segment – Overview
Thermal Energy Segment – Overview GEK Terna Group is engaged in thermal energy production and electricity distribution through Heron I, Heron II and Heron Supply, as well as the Komotini CCGT, which is currently under construction Overview of Assets Project Status MW Type Share HERON I In operation
Slide 19: Appendix I: Financial Data
Appendix I: Financial Data 19
Slide 20: Group Balance Sheet
Group Balance Sheet Figures in € (000’) GROUP FY 2021 FY 2020 Total non-current assets 2,512,675 2,835,383 Total current assets 2,299,763 1,799,420 Total Assets 4,812,438 4,634,803 Total equity 871,259 826,809 Total non-current liabilities 2,989,952 3,006,406 Total current Liabilities 951,227 801,58
Slide 21: Group P&L
Group P&L Figures in € (000’) Group FY2021 FY2020 Continuing operations Turnover 1,144,199 891,905 Gross profit 254,628 187,169 Results before taxes, financing and investing activities 323,451 242,015 Earnings before taxes 195,348 109,265 Εarnings before taxes from continuing operations 145,624 53,1
Slide 22: Group Cash Flow
Group Cash Flow Figures in € (000') Group FY2021 FY2020 Cash Flows From Operating Activities Earnings before tax 145,624 53,116 Depreciation 107,183 98,593 Fixed assets grants amortization (5,586) (5,651) Provisions 28,399 18,524 Impairments (6,391) 7,772 Other non‐cash expenses/revenue (4,406) (26,
Slide 23: 85, Mesogeion Ave., Athens
85, MESOGEION AVE., ATHENS 115 26, GREECE T. +30 210 6968000 —_-F. +30 210 6968098-99 Email: info@gekterna.com GEK TERNA GROUP OF COMPANIES www.gekterna.com