Gas Plus S.p.a. · MIL:GSP
Gas Plus — FY2022 Earnings Presentation
15 slides from Gas Plus's earnings presentation, Apr 5, 2023
Slide 1: Analyst Presentation FY 2022 Financial Results
Gas Plus Group Analyst Presentation FY 2022 Financial Results April 5th, 2023* * This document is updated on 6 months basis, occurring after 31 December and 30 June 0closing
Slide 2: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS 1
Slide 3: Market Scenario
Market Scenario TTF Gas Price – Day Ahead TTF vs VTPTTF Gas PriceGas Romania – Quarter Price*Ahead – Day Ahead 350 300 310 250 260 200 210 150 160 100 110 50 60 0 10 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec €/MWh - 2021 €/MWh - 2022 €/MWh - 2022
Slide 4: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS 3
Slide 5: Highlights
Highlights The Group performed well, net of extraordinary contributions in Italy and Romania, in terms of both development projects and profitability: ✓ Romanian gas-in of the Midia Project, anticipated at half year, allowed a + 42 % of gas production for 2022 and 2023 production is expected to doub
Slide 6: Agenda
Agenda ▪1 MARKET SCENARIO ▪2 HIGHLIGHTS ▪3 FINANCIAL RESULTS E&P RETAIL NETWORK & TRANSPORTATION GROUP FINANCIAL RESULTS COMPANY PROFILE 5
Slide 7: Financial Results: E&P
Financial Results: E&P ➢ 2022 Results: ▪ Relevant EBITDA result due to two factors : increased gas prices (58%) and increased production levels (42%) FY 2022 P&L - E&P contribution ▪ Domestic activities: ▪ “Longanesi” project: completed in 2022 drilling and completion E&P (MScme) FY22 FY21 ∆ (%) act
Slide 8: Financial Results: Retail
Financial Results: Retail TTF GasP&L Price -– Retail Quarter Ahead ▪ The 2022 has been characterized by the exponential and constant increase of gas prices, difficulties of gas supply and strong FY 2022 FY 2021 decline of consumptions ▪ This scenario negatively affected EBITDA 12% 10% 2022: 11% Resi
Slide 9: Financial Results: Network & Transportation
Financial Results: Network & Transportation ▪ The warmer temperature registered during 2022 has led to a decrease in the distributed volumes of gas (-12.0%) compared to last year. TTF Gas Price – Quarter Ahead Contribution ▪ The additional restrictions on revenues FY 2022 P&L – Network & Transportat
Slide 10: Financial Results: Group P&L
Financial Results FYGas TTF 2022 Price––Group QuarterP&L Ahead ▪ Strong growth in Revenues and Operating costs as effect to exceptionally high prices and increase in gas productions 235.4 ▪ Increase in EBITDA thanks to strong 76.1 84.8 growth of the BU E&P margins 17.9 ▪ Amortization and depreciatio
Slide 11: Financial Results: EBITDA and Net Result Evolution
Financial Results TTF Gas EBITDA Price – Quarter Breakdown by Ahead BU (M€) TTFNet Group Gas Price Result– Quarter Ahead(M€) Evolution 17.9 76.1 58.2 7.0 2.5 3.1 7.7 3.4 7.7 10.1 83.5 -11.0 -2.4 -2.4 -11.8 FY 21 FY 22 -52.2 -2.6 FY 21 EBITDA D&A Financial Other Taxes FY 22 Charges E&P Network Retail
Slide 12: Financial Results: Group Balance Sheet
Financial Results DecemberTTF 31, 2022 Gas Price –– Quarter Group Ahead Balance Sheet Dec 31, Dec 31, Group (M€) ∆ (%) 2022 2021 ▪ Increase in Non Current Assets after Inventories 3.4 3.4 1.6% investments for 27.3 M€ Receivables 50.7 37.1 36.6% ▪ Negative amount of Working Capital Payables (51.8) (3
Slide 13: Financial Results: NFP Trend
Financial Results: NFP Trend TTFNFP Group Gas Price – Quarter Historical Ahead(M€) Trend 250.6 212.9 150.5 98.6 85.2 82.2 71.2 53.0 52.5 66 ▪ The NFP shows a significant 41.1 42 49 reduction despite the investments and the temporary negative cash Dec 10Dec 11Dec 12Dec 13Dec 14Dec 15Dec 16Dec 17Dec 1
Slide 14: Company Profile
Company Profile Shareholding as at 28 March 2023 Share information Share price performance 13,47% N. of share: 44,909,620 6,0 29.000 2,98% 5,5 28.000 Share price as of 31.12.2022: € 2.40 5,0 27.000 Gas Plus Pricing FTSE Mib Index 9,61% 4,5 26.000 Share price as of 04.04.2023: € 2.55 4,0 25.000 3,5 2
Slide 15: Disclaimer
Disclaimer This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Gas Plus. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are state