Edison Spa · MIL:EDNR
Edison Spa — FY2023 Earnings Presentation
10 slides from Edison Spa's earnings presentation, Feb 28, 2024
Slide 1: FY2023 Results
FY2023 Results Milan, 28 February 2024 C1 Confidential
Slide 2: Edison FY 2023 results: record operating performance with EBITDA at 1,808 M€ (+71%)
Edison FY 2023 results: record operating performance with EBITDA at 1,808 M€ (+71%) and Profit at 515 M€. Positive contribution of REVENUES at 18.4 B€ renewable operations DUE MAINLY TO LOWER No more Financial debt mainly due to partial GAS PRICES AND Strong portfolio (credit of 160 M€ at recovery o
Slide 3: Edison's Full Year 2023 at a glance
Edison’s Full Year 2023 at a glance € €18.4B €1.8B €160M 7.2 GW 19.5 TWh 7.5% 13 Gm3 21% >2 M Revenues EBITDA Credit Installed Capacity Power produced of Italy’s power Gas imports of Italy’s gas Clients (PoD) (No Net debt) generation imports -39.2% +71.3% -0.9% -10.6% +14.4% KEY FACTS EDISON 140 ANN
Slide 4: POWER Edison – Decrease in thermal production and significant increase in renewable generation
POWER Edison – Decrease in thermal production and significant increase in renewable generation (TWh) SOURCES USES 37,1 -1.5% 37,7 37,1 -1.5% 37,7 -2.7% at 0,77 +12.4% 0,69 0,77 +12.4% 0,69 308.4 TWh +19.2% 17,6 18,0 Net import -2.1% -0.9% 22,6 22,8 +11.2% Other RES prod. 2,2 +14.7% 1,9 2,3 1,4 +63.4
Slide 5: GAS Edison – c30% decrease in gas usage mainly linked to lower thermal generation
GAS Edison – c30% decrease in gas usage mainly linked to lower thermal generation and reduced industrial usages (bcm) SOURCES USES -8.4% at 63.1 bcm -29.5% 21,2 21,2 Grid -29.5% +26.2% consumption and 9,2 losses 14,9 6,6 -35.3% 14,9 -4.0% Industrial uses 1,9 -71.7% 6,0 5,0 -7.4% Residential uses -8.
Slide 6: Record operating performance supported by most business areas in 2023 with EBITDA up 71%
Record operating performance supported by most business areas in 2023 with EBITDA up 71% (M€) EBITDA Δ EBITDA MAIN DRIVERS ▲ Strong contribution of renewable operations: recovery of hydro production, 332 after the severe drought of 2022, and good performance in wind activities 1,808 +71.3% Gas 776 o
Slide 7: Profit at 515 M€ compared to 151 M€ in 2022
Profit at 515 M€ compared to 151 M€ in 2022, which was adversely affected by «Extra Profitti» decrees. (M€) GROUP INTEREST IN PROFIT +241.1% (*) (*) 515 151 FY2022 FY2023 Adversely affected by Extraprofitti decrees with a tax rate of 74% (**) (*) Net expenses mainly attributable to regeneration acti
Slide 8: Financial debt at credit of 160 M€. Decrease in Net Debt
Financial debt at credit of 160 M€. Decrease in Net Debt driven by significant cash-flows from the strong operating results. (M€) NET DEBT (1 ) Investments mainly related to: • Energy and environmental services (164 M€) and related acquisition (44 M€) • Thermal generation (135 M€) • Generation from
Slide 9: Sustainability targets and 2023 performance
Sustainability targets and 2023 performance Sustainability Goals in line with industrial KPIs and goals UM 2023 Target Cross-cutting: prerequisites IMPROVED CEO meetings with SAB (Stakeholder Advisory Board) Nr meetings/year 2 3 by 2025 and enabling factors NEW Alignment of accumulated 2023-2030 Cap
Slide 10: Statement
Statement As required by Article 154-bis, Section 2, of the Uniform Finance Law (Legislative Decree No 58/1998), Ronan Lory and Roberto Buccelli, in their capacity as “Dirigenti preposti alla redazione dei documenti contabili societari” of Edison S.p.A., attest that the accounting information contai