Slide 1: 9M 2017 Consolidated Results
Gruppo 9M 2017 CONSOLIDATED RESULTS Conference Call Pieve di Soligo, 8th November 2017 1
Slide 2: Contents
Contents CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Financial highlights → Ascopiave Group structure as of 30th September 2017 → 9M 2017 consolidated income statement → Consolidated balance sheet as of 30th September 2017 Operating data Revenues and EBITDA Gross
Slide 3: Ascopiave Group structure as of 30th September 2017
Ascopiave Group structure as of 30th September 2017 CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 100% 89% 100% 51% 100% 100% 100% 48,999% 48,86% 49% 100% Companies consolidated with net equity method: Since year of registration: Sinergie Italiane 100% From 1st Janu
Slide 4: 9M 2017 consolidated income statement
9M 2017 consolidated income statement CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 (Thousand of Euro) 9M 2017 9M 2016 Chg Chg % Revenues 377.344 353.337 24.007 +6,8% (Cost of raw materials and consumables) (188.076) (184.009) (4.067) +2,2% (Cost of services) (82.73
Slide 5: Consolidated balance sheet as of 30th September 2017
Consolidated balance sheet as of 30th September 2017 CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 (Thousand of Euro) 30/09/2017 31/12/2016 Chg Chg % Tangible assets (*) 33.411 32.364 1.046 +3,2% Non tangible assets (*) 424.738 397.664 27.074 +6,8% Investments in as
Slide 6: Contents
Contents CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Financial highlights Operating data → Volumes of gas distributed → Volumes of gas sold → Volumes of electricity sold Revenues and EBITDA Gross margin on gas and electricity sales and other operating costs Person
Slide 7: Volumes of gas distributed
Volumes of gas distributed CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Volumes of gas distributed (Million of standard cubic meters) ∆ = +64,0 ∆ = +0,2 +12,1% +0,5% 593,7 Companies consolidated Companies consolidated with full consolidation method with net equity
Slide 8: Volumes of gas sold
Volumes of gas sold CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Volumes of gas sold (Million of standard cubic meters) ∆ = -8,3 ∆ = +0,3 -1,6% +0,3% Companies consolidated Companies consolidated with full consolidation method with net equity consolidation method (
Slide 9: Volumes of electricity sold
Volumes of electricity sold CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Volumes of electricity sold (GWh) ∆ = +41,3 ∆ = +3,5 +16,6% +8,9% Companies consolidated Companies consolidated with full consolidation method with net equity consolidation method (*) (*) Data
Slide 10: Contents
Contents CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Financial highlights Operating data Revenues and EBITDA → Revenues bridge → EBITDA bridge → EBITDA breakdown Gross margin on gas and electricity sales and other net operating costs Personnel Capex Net financial
Slide 11: Revenues bridge (1)
Revenues bridge (1) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Revenues bridge Companies consolidated with full consolidation method (Thousand of Euro) ∆ = +24.007 +6,8% 11
Slide 12: Revenues bridge (2)
Revenues bridge (2) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Revenues bridge Companies consolidated with full consolidation method (Thousand of Euro) ∆ = +24.007 +6,8% 12
Slide 13: Revenues bridge (3)
Revenues bridge (3) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Revenues bridge Companies consolidated with net equity consolidation method (*) (Thousand of Euro) ∆ = -49 -0,1% (*) Sinergie Italiane excluded. Data are considered pro-rata. 13
Slide 14: EBITDA bridge (1)
EBITDA bridge (1) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 EBITDA bridge Companies consolidated with full consolidation method (Thousand of Euro) ∆ =-2.572 -4,2% 14
Slide 15: EBITDA bridge (2)
EBITDA bridge (2) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 EBITDA bridge Companies consolidated with full consolidation method (Thousand of Euro) ∆ =-2.572 -4,2% 15
Slide 16: EBITDA bridge (3)
EBITDA bridge (3) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 EBITDA bridge Companies consolidated with net equity consolidation method (*) (Thousand of Euro) ∆ = +227 +2,6% (*) Sinergie Italiane excluded. Data are considered pro-rata. 16
Slide 17: EBITDA breakdown (1)
EBITDA breakdown (1) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 EBITDA breakdown Companies consolidated with full consolidation method (Thousand of Euro) (Thousand of Euro) 9M 2017 9M 2016 Var Var % EBITDA 58.906 61.477 (2.572) -4,2% EBITDA - Sale 26.980 34.141 (
Slide 18: EBITDA breakdown (2)
EBITDA breakdown (2) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 EBITDA breakdown Companies consolidated with net equity consolidation method (*) (Thousand of Euro) (Thousand of Euro) 9M 2017 9M 2016 Var Var % EBITDA 8.868 8.640 227 +2,6% EBITDA - Sale 6.718 6.269
Slide 19: Contents
Contents CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Financial highlights Operating data Revenues and EBITDA Gross margin on gas and electricity sales and other net operating costs → Gross margin on gas sales → Gross margin on trading gas sales → Gross margin on e
Slide 20: Gross margin on gas sales
Gross margin on gas sales CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 (Thousand of Euro) (*) 9M 2017 9M 2016 Chg Chg % Revenues from gas sales 224.592 234.691 (10.099) -4,3% (Gas purchase costs) (126.433) (132.622) 6.190 -4,7% (Gas distribution costs) (56.855) (55
Slide 21: Gross margin on trading gas sales
Gross margin on trading gas sales CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 (Thousand of Euro) (*) 9M 2017 9M 2016 Chg Chg % Revenues from trading gas sales (55) - (55) n.a. (Trading gas purchase costs) 47 - 47 n.a. (Trading gas transport / capacity costs) 60 -
Slide 22: Gross margin on electricity sales
Gross margin on electricity sales CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 (Thousand of Euro) (*) 9M 2017 9M 2016 Chg Chg % Revenues from elecricity sales 68.031 65.604 2.427 +3,7% (Electricity purchase costs) (39.003) (34.410) (4.593) +13,3% (Electricity distr
Slide 23: Gas distribution tariff revenues
Gas distribution tariff revenues CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 (Thousand of Euro) (*) 9M 2017 9M 2016 Chg Chg % Tariffs applied to sales companies 41.436 38.044 3.392 +8,9% Equalization amount (+ / -) 9.823 8.155 1.669 +20,5% Gas distribution tariff
Slide 24: Other net operating costs (1)
Other net operating costs (1) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 (Thousand of Euro) 9M 2017 9M 2016 Chg Chg % Other revenues 40.927 20.862 20.066 +96,2% Other costs of raw materials and services (61.208) (41.039) (20.168) +49,1% Cost of personnel (18.150)
Slide 25: Other net operating costs (2)
Other net operating costs (2) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 (Thousand of Euro) 9M 2017 9M 2016 Chg Chg % Other net operating costs (A) Company consolidated with full (38.431) (36.221) (2.210) +6,1% consolidation method Other net operating costs (B) C
Slide 26: Contents
Contents CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Financial highlights Operating data Revenues and EBITDA Gross margin on gas and electricity sales and other net operating costs Personnel → Number of employees → Consolidated cost of personnel Capex Net financia
Slide 27: Number of employees
Number of employees CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Number of employees ∆ = +46 ∆ = -1 +9,5% -0,7% 528 Companies consolidated Companies consolidated with full consolidation method with net equity consolidation method (*) Change of the consolidation are
Slide 28: Consolidated cost of personnel
Consolidated cost of personnel CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Consolidated cost of personnel (Thousand of Euro) ∆ = +2.107 +13,1% Cost of personnel changes: change of the consolidation area: + Euro 0,0 mln capitalized cost of personnel: + Euro 0,5 mln
Slide 29: Contents
Contents CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Financial highlights Operating data Revenues and EBITDA Gross margin on gas and electricity sales and other net operating costs Personnel Capex Net financial position and cash flow Disclaimer 29
Slide 30: Capex
Capex CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Consolidated capex (*) (Thousand of Euro) ∆ = +390 +2,7% Change of the consolidation area: Euro 2,0 mln 14.692 (**) Gas distribution systems: Euro 6,1 mln Gas meters: Euro 5,6 mln Other: Euro 1,0 mln Change of the
Slide 31: Contents
Contents CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Financial highlights Operating data Revenues and EBITDA Gross margin on gas and electricity sales and other net operating costs Personnel Capex Net financial position and cash flow Disclaimer 31
Slide 32: Net financial position and cash flow (1)
Net financial position and cash flow (1) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Net Financial Position and cash flow Companies consolidated with full consolidation method (Thousand of Euro) ∆ = +3.805 -4,0% 32
Slide 33: Net financial position and cash flow (2)
Net financial position and cash flow (2) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Net Financial Position and cash flow Companies consolidated with net equity consolidation method (*) (Thousand of Euro) ∆ = +8.599 +268,4% (*) Sinergie Italiane excluded. Data are
Slide 34: Net financial position and cash flow (3)
Net financial position and cash flow (3) CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 (Thousand of Euro) (*) 30/09/2017 31/12/2016 Var Var % Long term financial borrowings (>12 months) 54.360 34.541 19.819 +57,4% Current position of long term financial borrowings 1
Slide 35: Contents
Contents CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 Financial highlights 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 Disclaimer 35
Slide 36: Disclaimer
Disclaimer CONFERENCE CALL 9M 2017 consolidated results Pieve di Soligo, 8th November 2017 This presentation has been prepared by Ascopiave S.p.A. for information purposes only and for use in presentations of the Group’s results and strategies. For further details on the Ascopiave Group, reference s