Edison Spa · MIL:EDNR
Edison Spa — FY2021 Earnings Presentation
12 slides from Edison Spa's earnings presentation, March 2022
Slide 1: Full Year 2021 Results
FULL YEAR 2021 RESULTS Milan, March 2022 | 1
Slide 2: Business Environment
BUSINESS ENVIRONMENT €. oe? WEN EDISON
Slide 3: Italian Energy Market
ITALIAN ENERGY MARKET ELECTRIC POWER AVAILABILITY MIX GAS DEMAND (TWh) (bcm) +5,1% 318,1 System uses and +7,8% 76,2 Pumping 302,8 losses 70,7 +32,9% 42,8 2,3 Net import 32,2 (2,1%) 5,5 2,1 +6,9% 5,6 25,1 Thermoelectric users 25,5 (1,9%) 26,0 18,5 +11,2% 20,6 24,5 +6,1% Geothermal 46,3 production 48,
Slide 4: Market Reference Scenario
MARKET REFERENCE SCENARIO BRENT1 PSV (€c/scm) Avg FY2021: 48.5 Avg FY2021: 70.7 $/bbl 59.9 €/bbl Avg FY2020: 11.0 Avg FY2020: 43.2 $/bbl 37.9 €/bbl PUN TWA CSS2 (€/MWh) Avg FY2021: 125.5 (€/MWh) Avg FY2021: 2.5 Avg FY2020: 38.9 Avg FY2020: 0.7 1. Brent IPE FY2021 results | 4 2. Clean Spark Spread So
Slide 5: FY2021 Results
FY2021 RESULTS • Key facts FY 2021 • Edison electric power and gas sources and uses • Consolidated financial highlights and capital expenditures • Operating performance • Total financial indebtedness and cash flow | 5
Slide 6: Key Facts FY2021
KEY FACTS FY2021 A SELECTION FROM PRESS RELEASE Feb 21_Edison completes the acquisition of 70% of E2i (already financially consolidated). March 21_Sale of Edison Norge (E&P Norwegian assets) to Sval Energi. EXIT FROM April 21_Sale of 100% of Infrastrutture Distribuzione Gas to 2i Rete Gas. E&P AND F
Slide 7: Edison Electricity and Gas Balances
EDISON ELECTRICITY AND GAS BALANCES ELECTRICITY GAS (TWh) SOURCES USES (bcm) SOURCES USES FY2021 FY2021 FY2021 FY2021 ∆ FY2021 ∆ FY2021 ∆ FY2021 ∆ FY2021 vs. FY2020 vs. FY2020 vs. FY2020 vs. FY2020 35.6 -3.7 35.6 -3.7 18.9 +2.3 18.9 +2.3 Energy Energy services -0.1 services 0.7 -0.1 Wholesale 0.7 Pu
Slide 8: Group Consolidated Highlights
GROUP CONSOLIDATED HIGHLIGHTS (€ mln) FY2020 FY2021 D Net capex & net financial investments a 653 Sales revenues 6.390 11.739 83,7% 15 EBITDA 684 989 44,6% 534 90 EBIT 239 466 95,0% 12 Profit (loss) from Continuing Operations 191 431 nm Profit (loss) from Discontinued Operations (158) (1) 99,4% 119
Slide 9: Operating Performance Breakdown
OPERATING PERFORMANCE BREAKDOWN Electric Power operations Gas operations & E&P (*) Corporate and eliminations Total Edison Group (€ mln) FY2020 FY2021 ∆ FY2020 FY2021 ∆ FY2020 FY2021 ∆ FY2020 FY2021 ∆ Sales revenues 3.830 4.649 21,4% 3.243 7.752 n.s. (683) (662) 3,1% 6.390 11.739 83,7% EBITDA 482 67
Slide 10: From Consolidated EBITDA to Net Result
FROM CONSOLIDATED EBITDA TO NET RESULT (€ mln) FY2020 FY2021 D • Solid growth and strong performance mainly driven by: EBITDA 684 989 305 Depreciation, amortization and writedowns (387) (358) 29 • economic recovery, after 2020 impacted of which: writedowns (35) (2) 33 by pandemic and energy consumpt
Slide 11: Net Financial Debt and Cash Flow
NET FINANCIAL DEBT AND CASH FLOW NET FINANCIAL DEBT a) CASH FLOW OF THE PERIOD (€ mln) (€ mln) o/w Acquisition of 70% E2i, (588) M€ net investments sale of 49% Edison Renewables, (65) M€ business combinations sale of Edison Norge and IDG (7) M€ net financial investments Mainly scenario b) • 20% grow
Slide 12: Statement
STATEMENT As required by Article 154-bis, Section 2, of the Uniform Finance Law (Legislative Decree No 58/1998), Didier Calvez 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 con