Ascopiave S.p.a. · MIL:ASC

Ascopiave — FY2023 Earnings Presentation

24 slides from Ascopiave's earnings presentation, Mar 7, 2024

1. Slide 1: 12M 2023 Consolidated Results Conference Call

   12M 2023 CONSOLIDATED RESULTS Gruppo Ascopiave 12M 2023 CONSOLIDATED RESULTS Conference Call Pieve di Soligo, 7th March 2024 Gruppo 1

2. Slide 2: Contents

   Contents 12M 2023 CONSOLIDATED RESULTS Financial highlights ……………………………………………………………………………………………………………………….……………………………………… Pag. 3 Companies consolidated with full consolidation method …………………………………………………………….. Pag. 7 Estenergy …………………………………………………………………………………………………………………………………………………………………………………….… Pag

3. Slide 3: Contents: Financial highlights

   Contents 12M 2023 CONSOLIDATED RESULTS Financial highlights → Ascopiave Group structure as of 31st December 2023 → 12M 2023 consolidated income statement → Consolidated balance sheet as of 31st December 2023 Companies consolidated with full consolidation method Estenergy Dividend Disclaimer Financia

4. Slide 4: Ascopiave Group structure as of 31st December 2023

   Ascopiave Group structure as of 31st December 2023 12M 2023 CONSOLIDATED RESULTS 100% 25% 100% 51% 100% 49% 100% 84.17% 100% 100% ASCO RENEWABLES 100% 100% Salinella Eolico 100% 90% Green Factory 100% 3% 18.33% 5% 11.35% Corporate services to subsidiaries and associates Gas distribution Water manage

5. Slide 5: 12M 2023 consolidated income statement

   12M 2023 consolidated income statement 12M 2023 CONSOLIDATED RESULTS (Thousand of Euro) 12M 2023 12M 2022 Chg Chg % Revenues 180,794 163,651 17,143 +10% (Purchase costs for other raw materials) (2,265) (2,876) 611 -21% (Costs for services) (50,474) (50,968) 494 -1% (Costs for personnel) (20,914) (20

6. Slide 6: Consolidated balance sheet as of 31st December 2023

   Consolidated balance sheet as of 31st December 2023 12M 2023 CONSOLIDATED RESULTS (Thousand of Euro) 31/12/2023 31/12/2022 Chg Chg % Tangible assets (*) 156,475 138,432 18,042 +13% Non tangible assets (*) 766,353 759,743 6,611 +1% Investments in associates (**) 308,331 436,287 (127,956) -29% Other f

7. Slide 7: Contents: Companies consolidated with full consolidation method

   Contents 12M 2023 CONSOLIDATED RESULTS Financial highlights Companies consolidated with full consolidation method → Operating data → Revenues bridge → EBIT bridge → Gas distribution tariff revenues and revenues from RES → Other net operating costs → Personnel → Capex → Net financial position and cas

8. Slide 8: Operating data – gas distribution

   Operating data – gas distribution 12M 2023 CONSOLIDATED RESULTS Number of gas distribution users Volumes of gas distributed (Million of standard cubic meters) -15,363 -23.6 -2% -2% 1,432.0 82.6 874,376 889,739 1,455.6 1,349.4 31/12/2023 31/12/2022 12M 2023 12M 2022 New consolidation area (*) (*) Cha

9. Slide 9: Operating data – renewable energies

   Operating data – renewable energies 12M 2023 CONSOLIDATED RESULTS Volumes of electricity produced (GWh) +61.6 +69% 150.8 89.2 12M 2023 12M 2022 Companies consolidated with full consolidation method 9

10. Slide 10: Revenues bridge

    Revenues bridge 12M 2023 CONSOLIDATED RESULTS Revenues bridge (Thousand of Euro) +17,143 +10% 8,388 4,521 4,485 7,050 7,302 180,794 163,651 12M 2022 Change of the Gas Revenues Revenues from Other 12M 2023 consolidation distribution from RES energy revenues area tariff revenues efficiency (*) (**) ce

11. Slide 11: EBIT bridge

    EBIT bridge 12M 2023 CONSOLIDATED RESULTS EBIT bridge (Thousand of Euro) +14,079 +44% 8,388 7,061 1,270 215 115 45,990 31,911 12M 2022 Change of the Gas Revenues Depreciations Other net 12M 2023 consolidation distribution from RES and operating area tariff revenues amortizations costs (*) (**) (*) C

12. Slide 12: Gas distribution tariff revenues and revenues from RES

    Gas distribution tariff revenues and revenues from RES 12M 2023 CONSOLIDATED RESULTS Gas distribution tariff revenues (Thousand of Euro) (*) 12M 2023 12M 2022 Chg Chg % Gas distribution tariff revenues 124,084 113,561 10,523 +9% Gas distribution tariff revenues 124,084 113,561 10,523 +9% Change of t

13. Slide 13: Other net operating costs

    Other net operating costs 12M 2023 CONSOLIDATED RESULTS (Thousand of Euro) 12M 2023 12M 2022 Chg Chg % Other revenues 35,716 37,496 (1,780) -5% Other costs of raw materials and services (63,735) (63,564) (170) +0% Cost of personnel (20,914) (20,550) (365) +2% Other net operating costs (48,933) (46,6

14. Slide 14: Personnel (1)

    Personnel (1) 12M 2023 CONSOLIDATED RESULTS Number of employees -10 -2% 503 513 31/12/2023 31/12/2022 Companies consolidated with full consolidation method 14

15. Slide 15: Personnel (2)

    Personnel (2) 12M 2023 CONSOLIDATED RESULTS Cost of personnel (Thousand of Euro) +365 +2% Change of consolidation area: + Euro 0.3 mln 338 88 Cost of personnel changes of 62 equal consolidation area: ▪ capitalized cost of personnel: - Euro 0.1 mln 20,550 20,914 ▪ other: + Euro 0.1 mln 12M 2022 Chang

16. Slide 16: Capex

    Capex 12M 2023 CONSOLIDATED RESULTS Capex (*) (Thousand of Euro) +576 +1% Change of the consolidation area: Euro 0.7 mln 87,577 (**) 738 Equal consolidation area: ▪ Gas distribution systems: Euro 45.5 mln 86,839 87,001 ▪ Gas meters: Euro 15.4 mln ▪ Investments in renewable energies: Euro 23.6 mln ▪

17. Slide 17: Net financial position and cash flow (1)

    Net financial position and cash flow (1) 12M 2023 CONSOLIDATED RESULTS Net financial position and cash flow (Thousand of Euro) 54,418 61,583 28,503 87,577 23,225 167,830 63,521 411,857 -22,494 389,363 -5% 31/12/2022 Cash flow Capex Change in NWC Dividends Change in Purchase of Realization of 31/12/2

18. Slide 18: Net financial position and cash flow (2)

    Net financial position and cash flow (2) 12M 2023 CONSOLIDATED RESULTS (Thousand of Euro) (*) 31/12/2023 31/12/2022 Chg Chg % Long term financial borrowings 204,064 178,538 25,526 +14% Current position of long term financial borrowings 80,642 119,280 (38,638) -32% Long term bond loans 86,347 94,033

19. Slide 19: Estenergy

    Contents 12M 2023 CONSOLIDATED RESULTS Financial highlights Companies consolidated with full consolidation method Estenergy → Financial highlights Dividend Disclaimer Estenergy 19

20. Slide 20: Estenergy Financial highlights

    Financial highlights 12M 2023 CONSOLIDATED RESULTS Income statement (*) Balance sheet (*) (Thousand of Euro) 12M 2023 12M 2022 (Thousand of Euro) 31/12/2023 31/12/2022 Tangible assets 5,522 4,100 Revenues 1,123,300 1,657,396 Non tangible assets 627,170 634,106 Investments in associates 17,704 17,717

21. Slide 21: Dividend

    Contents 12M 2023 CONSOLIDATED RESULTS Financial highlights Companies consolidated with full consolidation method Estenergy Dividend → Dividend proposal Disclaimer Disclaimer 21

22. Slide 22: Dividend proposal

    Dividend proposal 12M 2023 CONSOLIDATED RESULTS 0.14 Euro per share DIVIDEND PROPOSED (Euro 30.3 mln) Detachment Record Payment date date date 6th May 2024 7th May 2024 8th May 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 (Proposal) Dividends paid (Thousand of Euro) (*) 30.339 28.172 35.757 34.

23. Slide 23: Disclaimer

    Contents 12M 2023 CONSOLIDATED RESULTS Financial highlights Companies consolidated with full consolidation method Estenergy Dividend Disclaimer Disclaimer 23

24. Slide 24: Disclaimer

    Disclaimer 12M 2023 CONSOLIDATED RESULTS ❑ This presentation has been prepared by Ascopiave S.p.A. for information purposes only and for use in presentations of the Group’s results and strategies. ❑ For further details on the Ascopiave Group, reference should be made to publicly available informatio

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