Slide 1: 9M 2023 Financial Results
9M 2023 Financial Results November 23, 2023 9M’23 Financial Results 1
Slide 2: Disclaimer
Disclaimer. This presentation has been prepared by ELLAKTOR S.A. The information included in this presentation may be caution readers of this presentation not to place undue (the “Company”). subject to updating, completion, revision and reliance on these forward-looking statements as several amendme
Slide 3: Group Business Update
Group Business Update. Balance Sheet Transformation Business Outlook Sustainable, visible, long-term earnings streams. Ample opportunities from substantial PPP and Unlevered capital structure. Concessions pipeline for future tenders. Transactions Platform value backed by adequate liquidity and exten
Slide 4: Contents
Contents. 1. 2. 3. 4. 5. Group Key Financial ESG Appendix Financial & Financial Performance Business Figures by Segment Update 9M’23 Financial Results 4
Slide 5: 1. Group Financial & Business Update
1. Group Financial & Business Update 9M’23 Financial Results 5
Slide 6: Financial Highlights 9M'23
Financial Highlights 9M’23. 1. C.O. Revenue at €284m, -2.8% YoY. 5. Group Net Cash(1): €168m vs. Net Cash(2) of €152m at the end of 2022. 2. C.O. EBITDA at €147m, increased by 27% vs. the same period of last year. Consolidated (C.O. + 6. Equity attributable to shareholders at D.O.) EBITDA at €133m.
Slide 7: 9M'23 Group Revenue & EBITDA
9M’23 Group Revenue & EBITDA. (C.O. -€7m, -7%) Revenue QoQ (€m) €m 9M'22 9M'23 Δ% Q3’22 LTM Q3’23 LTM Δ% C.O. D.O. RES D.O. Constr. Concessions 197.5 207.1 5% 264.7 278.6 5% Environment 88.1 74.9 (15%) 119.7 109.2 (9%) Revenue 305 Real Estate 6.5 7.6 17% 9.4 10.9 16% 259 Other 0.3 1.1 220% 0.5 1.3 1
Slide 8: Segments: Business Update I/II
Segments: Business Update I/II. CONCESSIONS ENVIRONMENT ▪ Increased road traffic, Attiki Odos sees 10.2% YoY growth in 9M'23, up 10% from ▪ HELECTOR has been declared preferred pre-Covid levels in 9M’19. bidder in projects totaling €42m for ▪ On 21.4.2023, AKTOR Concessions (60%) and INTRAKAT (40%)
Slide 9: Segments: Business Update II/II
Segments: Business Update II/II. REAL ESTATE CONSTRUCTION (Discontinued Operations) ▪ On October 10, 2023, REDS S.A. and Trade Estates REIC signed a ▪ New projects worth €325m were signed during the first nine Share Sale & Purchase Agreement for the sale of the entity months of 2023, with additional
Slide 10: 2. Key Financial Figures
2. Key Financial Figures 9M’23 Financial Results 10
Slide 11: Consolidated P&L - IFRS 5
Consolidated P&L - IFRS 5. Continuing Operations Discontinued Operations Total €m 9M'22 9M'23 Δ% 9M'22 9M'23 Δ% 9M'22 9M'23 Δ% Net sales 292.0 283.9 (3%) 446.6 380.5 (15%) 738.6 664.5 (10%) Cost of Sales* (143.3) (116.9) 18% (374.5) (381.2) (2%) (517.8) (498.1) 4% Gross profit 148.7 167.1 12% 72.1 (
Slide 12: Consolidated Balance Sheet (IFRS 5)
Consolidated Balance Sheet (IFRS 5). €m Dec.'22 Sep.'23 Δ% €m Dec.'22 Sep.'23 Δ% PPE, Intangible assets & Investment Property 632.6 449.4 (29%) Equity excl. non-controlling interests 827.9 860.2 4% Investment in subsidiaries, associates and joint ventures 203.7 207.7 2% Non-controlling interests 85.
Slide 13: Group Net Debt Breakdown
Group(1) Net Debt Breakdown. Total Debt (€m) Cash & Liquid Assets (€m) Net Debt (Cash) (€m) 406 411 213 619 188 600 20 34 212 202 365 356 344 336 407 397 (152) (168) 41 41 31.12.22 30.9.23 31.12.22 30.9.23 31.12.22 30.9.23 Moreas Group x-Moreas Moreas Group x-Moreas Restricted Cash x-Moreas Moreas G
Slide 14: Consolidated Cash Flow (IFRS 5)
Consolidated Cash Flow (IFRS 5). €m 9M '22 9M '23 Δ% ▪ C.O. Operating Cash Flow at €99m (+28% YoY). Cash and equivalents at start of period 357.9 413.5 16% CFs from Operating Activities (C.O.) 77.3 99.3 28% ▪ Cash Flow from Investment Activities CFs from Operating Activities (D.O.) (37.4) (95.3) <(1
Slide 15: 3. Financial Performance by Segment
3. Financial Performance by Segment 9M’23 Financial Results 15
Slide 16: Concessions
Concessions. Revenue QoQ (€m) 74 ▪ Robust operational performance, as EBITDA 72 profitability witnessed a remarkable 26% and 25% 70 YoY growth for the Q3 and 9-month period 68 respectively. 66 72.1 70.9 71.5 70.8 ▪ Adjusting for the non-recurring snowstorm-related 64 expense incurred in 2022, EBITDA
Slide 17: Environment
Environment. Revenue QoQ (€m) 40 ▪ Turnover for 9M’23 decreased by 15% to €75m, which was 35 the blended result of: 30 ▪ Increased input volumes and gate fees in Larnaka and Kozani 25 (+ve). 20 ▪ The full consolidation of the clinical incinerator operation (+ve). 32.4 34.3 15 24.1 25.4 25.4 ▪ Cessat
Slide 18: Real Estate
Real Estate. Revenue QoQ (€m) 3.5 3 ▪ Revenue growth at +15.4% and +16.8% for the Q3 2.5 and 9M’23 periods, respectively. 2 ▪ 9M’23 EBITDA at €9.6m, or 2.6x YoY, which was 1.5 3.3 2.7 flattered by the disposal of two non-core plots of 1 2.3 2.5 2.5 land in Romania at a profit of €5.8m in Q2’23. 0.5
Slide 19: Construction (Discontinued Operations)
Construction (Discontinued Operations). Revenue QoQ (€m) 200 180 ▪ 9M’23 Revenue growth was +2.5% YoY, supported 160 140 by new domestic projects and the acceleration of the 120 Centura project in Romania. 100 80 171.6 ▪ EBITDA losses of €14m for 9M’23 due to the 60 132 114.3 140.8 125.5 completion
Slide 20: 4. ESG
4. ESG 9M’23 Financial Results 20
Slide 21: ESG Footprint-Environment
ESG Footprint-Environment. 2022 Key 2022 0.3 8% 0.28 0.27 251 49% 36% Achievements 248 3% 250 4% 260 0.25 0.24 Scope 1&2 GHG Electricity Waste incinerated 210 0.2 emissions per Diesel Petrol Energy 2020 2021 2022 source Natural gas Heating oil/LPG/CNG New Group Environmental consumption Energy consu
Slide 22: ESG Footprint-Social & Governance
ESG Footprint-Social & Governance. 7500 40% Key 2022 7,245 7,296 7,329 2022 92 Achievements 26% 27% 30% 24% 2021 94 7000 20% 2020 95 Employees 2020 2021 2022 % of supplies acquired Number of employees from local suppliers 85 90 95 100 Signed the Women Women Empowerment Principles 50 (WEPs) 27 43 S 2
Slide 23: ESG Ratings
ESG Ratings. Score(1) Rating Scale Rating Agency Comments Nov 2023 Dec 2022 Dec 2021 (low to high) 10 5 5 Environment 4 3 2 1 2 2 2 10 - 1 100 Social 0 Governance 68.0 69.9 67.0 110 ✓ 5th highest score among the 0 - 100 Included for the first primarily ASE listed companies (2) 50 time in 2022 80 80
Slide 24: EU Taxonomy-FY2022
Construction 3% OpEx EU Taxonomy-FY2022. Environment 4% Revenues 22% Concessions 13% 15% 63% Construction 17% RES (disc.) 56% Construction 2% Environment 3% 29% 30% RES (disc.) 10% CapEx 41% Other 1% Environment 1% Construction 61% Construction 15% Concessions 14% Concessions 26% 10% 16% 74% RES (di
Slide 25: 5. Appendix
5. Appendix 9M’23 Financial Results 25
Slide 26: P&L by Segment 9M'23
P&L by Segment 9M’23. Continuing Discontinued 9M'23 in €m Concessions Environment Real Estate Other Elimin. Total Operations Operations Net sales 207.1 74.9 7.6 1.1 (6.8) 283.9 380.5 664.5 Cost of Sales* (66.6) (55.4) (0.4) (0.6) 6.0 (116.9) (381.2) (498.1) Gross profit 140.6 19.5 7.2 0.6 (0.8) 167.
Slide 27: P&L by Segment 9M'22
P&L by Segment 9M’22. Continuing Discontinued 9M'22 in €m Concessions Environment Real Estate Other Elimin. Total Operations Operations Net sales 197.5 88.1 6.5 0.3 (0.5) 292.0 446.6 738.6 Cost of Sales* (72.5) (70.3) (0.6) (0.3) 0.5 (143.3) (374.5) (517.8) Gross profit 125.1 17.9 5.9 0.0 (0.0) 148.
Slide 28: Net Debt by Segment
Net Debt by Segment. Concessions Real Estate Group (excl. Moreas (non- 30.09.2023 in € m Environment Other Group Assets H.F.S. Total Group (excl. Moreas) (excl. Gyalou) Moreas, Gyalou) recourse) Short-term Debt 24.0 4.9 2.5 0.6 31.9 29.6 61.6 39.4 100.9 Long-term Debt 156.8 13.6 0.0 0.0 170.4 367.6
Slide 29: Equity, Performance & Shareholders
Equity, Performance & Shareholders. Price, Athens Stock Exchange Comparative Performance, Athens Stock Exchange Shareholders’ structure as of October 31, 2023 2.8 ELLAKTOR N-23, 2.225 FTASE Index Own Shares 2.6 Construction Average x-ELLAKTOR 0% 2.5 Institutional 2.4 N-23, Retail <5% 5% 10% 1.669167
Slide 30: Glossary / Alternative Performance Measures
Glossary / Alternative Performance Measures. NET BEBT EBITDA EBITDA EBIT NET DEBT EXCLUDING LTM MARGIN LEASES (Earnings before Earnings before (Earnings before Total short-term and Net Debt excluding Refers to a period of Interest, Tax, interest, tax, Interest and Tax): long-term borrowings, leases
Slide 31: Contact / ELLAKTOR Headquarters
Dimos Revelas Group CFO drevelas@ellaktor.com Andreas Papanagiotopoulos Group Treasurer & Finance Manager/IRO apapanagiotopoulos@ellaktor.com ir@ellaktor.com ELLAKTOR HEADQUARTERS 25, Ermou St., GR 145 64 Nea Kifissia Athens - Lamia National Road, Olympic Village Interchange Greece TEL: +30 210 8185