Slide 1: 1stH 2013 Consolidated Results Conference Call
Gruppo 1stH 2013 CONSOLIDATED RESULTS Conference Call Pieve di Soligo, August, 30th 2013 1
Slide 2: Contents
Contents CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Financial highlights → Ascopiave Group structure as of June, 30th 2013 Soligo, August, 30th 2013 → 1stH 2013 income statement → Balance sheet Operating Data Revenues and EBITDA Gross margin on gas and electricity activities and
Slide 3: Ascopiave Group structure as of June 30th 2013
Ascopiave Group structure as of June, 30th 2013 CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Gas distribution Gas sales Soligo, August, 30th 2013 57% Other activities 89% 1% (in liquidazione) 51% 1% 51% 1% 100% 80% 100% 100% 100% 49% 48,999% 100% 100% 30,94% 48,86% (in liquidazion
Slide 4: 1stH 2013 income statement
1stH 2013 income statement CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, (Thousand of Euro) 1stH 2013 1stH 2012 Chg Chg % Soligo, August, 30th 2013 Revenues 518.173 556.975 (38.802) -7,0% (Cost of raw materials and consumables) (350.969) (407.551) 56.582 -13,9% (Cost of services) (
Slide 5: Balance sheet
Balance sheet CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, (Thousand of Euro) 30/06/2013 31/12/2012 Chg Chg % Tangible assets (*) 39.745 40.534 (789) -1,9% Soligo, August, 30th 2013 Non tangible assets (*) 447.516 450.457 (2.941) -0,7% Other fixed assets 30.307 29.817 490 +1,6% Fi
Slide 6: Contents
Contents CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Financial highlights Soligo, August, 30th 2013 Operating Data → Volumes of gas distributed → Volumes of gas sold to end customers → Volumes of gas sold on trading and wholesaling activities → Number of gas sales customers Reven
Slide 7: Volumes of gas distributed (1)
Volumes of gas distributed (1) CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Volumes of gas distributed (Million of standard cubic meters) Soligo, August, 30th 2013 ∆ = -17,5 ∆ = +7,3 900 -3,4% 900 +7,8% 800 800 700 700 600 516,6 600 499,1 500 500 400 400 300 300 200 200 100,9 93,5
Slide 8: Volumes of gas distributed (2)
Volumes of gas distributed (2) CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Volumes of gas distributed: hystorical trend (Million of standard cubic meters) Soligo, August, 30th 2013 451,5 550 Avg. 2002-2012 492 496 492 500 474 445 454 439 451 431 450 412 422 -4,5% 389 400 350 300
Slide 9: Volumes of gas sold to end customers
Volumes of gas sold to end customers CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Volumes of gas sold to end customers (Million of standard cubic meters) Soligo, August, 30th 2013 ∆ = -112,4 ∆ = -30,7 -17,0% -9,2% 900 900 800 800 700 661,5 700 600 549,1 600 500 500 400 400 331,7 3
Slide 10: Volumes of gas sold on trading and wholesaling activities
Volumes of gas sold on trading and wholesaling activities CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Volumes of gas sold on trading and wholesaling activities (Million of standard cubic meters) Soligo, August, 30th 2013 ∆ = -134,5 -100,0% 700 600 500 400 300 200 134,5 100 0 0 1s
Slide 11: Number of gas sales customers
Number of gas sales customers CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Gas sales customers Gas sales customers Companies consolidated at 100% Companies consolidated at 49%-51% Soligo, August, 30th 2013 ∆ = -5.350 ∆ = -2.078 -1,0% -0,7% 800.000 800.000 600.000 553.999 559.349 6
Slide 12: Contents
Contents CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Financial highlights Soligo, August, 30th 2013 Operating Data Revenues and EBITDA → Revenues bridge → EBITDA bridge Gross margin on gas and electricity activities and other net operating costs Personnel Capex Net Financial Posi
Slide 13: Revenues bridge
Revenues bridge CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Revenues bridge (Thousand of Euro) Soligo, August, 30th 2013 ∆ = -38.802 800.000 -7,0% 700.000 600.000 556.975 67.153 518.173 500.000 -39.051 -39.526 -27.377 400.000 300.000 200.000 100.000 0 1stH 2012 Revenues Revenues
Slide 14: EBITDA bridge
EBITDA bridge CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, EBITDA bridge (Thousand of Euro) Soligo, August, 30th 2013 ∆ = +21.229 100.000 +42,0% 90.000 80.000 1.084 273 2.523 71.719 70.000 17.348 60.000 50.491 50.000 40.000 30.000 20.000 10.000 0 EBITDA 1stH Gross margin Gross mar
Slide 15: Contents
Contents CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Financial highlights Soligo, August, 30th 2013 Operating Data Revenues and EBITDA Gross margin on gas and electricity activities and other net operating costs → Gross margin on gas sales → Gross margin on electricity sales → Di
Slide 16: Gross margin on gas sales
Gross margin on gas sales CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, (Thousand of Euro) 1stH 2013 1stH 2012 Chg Chg % Revenues from gas sales to end customers 396.151 428.221 (32.070) -7,5% Soligo, August, 30th 2013 Revenues from gas trading and wholesaling - 39.526 (39.526) -10
Slide 17: Gross margin on electricity sales
Gross margin on electricity sales CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, (Thousand of Euro) 1stH 2013 1stH 2012 Chg Chg % Revenues from elecricity sales 49.119 73.050 (23.931) -32,8% Soligo, August, 30th 2013 (Elecricity purchase costs) (29.846) (46.003) 16.157 -35,1% (Distr
Slide 18: Distribution tariff revenues
Distribution tariff revenues CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, (Thousand of Euro) 1stH 2013 1stH 2012 Chg Chg % Tariffs applied to sales companies 36.519 34.896 1.623 +4,6% Soligo, August, 30th 2013 Equalization amount (+ / -) (2.044) (695) (1.349) +194,3% Gas distribut
Slide 19: Other net operating costs
Other net operating costs CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, (Thousand of Euro) 1stH 2013 1stH 2012 Chg Chg % Other Revenues 20.684 17.278 3.406 +19,7% Soligo, August, 30th 2013 Other costs of raw materials and services (37.160) (37.061) (99) +0,3% Cost of Personnel (13.
Slide 20: Contents
Contents CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Financial highlights Soligo, August, 30th 2013 Operating Data Revenues and EBITDA Gross margin on gas and electricity activities and other net operating costs Personnel → Number of employees → Cost of Personnel Capex Net Financ
Slide 21: Number of employees
Number of employees CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, No. of employees No. of employees Companies consolidated at 100% Companies consolidated at 49%-51% Soligo, August, 30th 2013 ∆ = -7 ∆ = -3 700 -1,5% 700 -1,7% 600 600 500 446 453 500 400 400 300 300 200 200 169 172 1
Slide 22: Cost of personnel
Cost of personnel CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Cost of personnel (Thousand of Euro) Soligo, August, 30th 2013 ∆ = +784 20.000 +6,0% 15.000 381 13.743 12.959 0 403 10.000 5.000 0 Cost of personnel Cost of personnel Change of Other changes Cost of personnel 1stH 2012
Slide 23: Contents
Contents CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Financial highlights Soligo, August, 30th 2013 Operating Data Revenues and EBITDA Gross margin on gas and electricity activities and other operating costs Personnel Capex Net Financial Position and cash flow 23
Slide 24: Capex
Capex CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Capex (*) (Thousand of Euro) Soligo, August, 30th 2013 ∆ = +848 Gas distribuition system: 15.000 +8,6% Euro 5,0 mln 12.000 10.709 (**) gas meters: Euro 0,3 mln 9.861 9.000 gas distribution concession: Euro 4,3 mln 6.000 other: Eur
Slide 25: Contents
Contents CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, Financial highlights Soligo, August, 30th 2013 Operating Data Revenues and EBITDA Gross margin on gas and electricity activities and other net operating costs Personnel Capex Net Financial Position and cash flow 25
Slide 26: Net Financial Position and cash flow
Net Financial Position and cash flow CONFERENCE CALL 1stH 2013 consolidated results Pieve di Soligo, ∆ = +77,4 60 (Million of Euro) -45,5% Soligo, August, 30th 2013 40 20 0 -20 -40 +109,5 -60 -80 -100 -26,9 +45,4 -92,7 -120 -140 -6,3 -160 -180 -170,1 -44,3 -200 -220 -240 -260 -280 31/12/2012 C ash f