Evn Ag · VIE:EVN
Evn — Q1 2023/24 Earnings Presentation
16 slides from Evn's earnings presentation, Feb 29, 2024
Slide 1: EVN conference call Q. 1 2023/24 results
EVN conference call Q. 1 2023/24 results 29 February 2024
Slide 2: Highlights Q. 1 2023/24
Highlights Q. 1 2023/24 Stable business development in Q. 1 2023/24 − Significantly mild weather conditions in all three markets − Increase in electricity production from renewables − Decline in wholesale prices for electricity and energy carriers Substantial progress in expansion of renewable g
Slide 3: Key financials Q. 1 2023/24
Key financials Q. 1 2023/24 Q. 1 2023/24 +/– • Decline in revenue EURm % Revenue 909.1 -22.6 − Lower valuation effects from hedges caused by downward trend in wholesale EBITDA 285.7 1.4 prices Depreciation and amortisation -84.8 -5.2 Effects from impairment tests -0.3 - − Reduced use of natural gas-
Slide 4: Solid balance sheet structure
Solid balance sheet structure Strong balance sheet as the basis for EVN’s ambitious investment programme Net debt roughly at the level of 30.09.2023 EVN’s goal is to maintain solid A category ratings Conference call Q. 1 2023/24 results 4
Slide 5: Energy
Energy Sales volumes to Q. 1 2023/24 +/– • Decline in electricity, natural gas and heat sales end customers GWh % volumes Electricity1) 1,838 -16.0 − Warmer temperatures y-o-y Natural gas1) 1,142 -23.7 Heat 614 -4.4 − Consumers‘ energy saving efforts, increased generation by customers’ own PV equipm
Slide 6: Generation
Generation Q. 1 2023/24 +/– • Electricity generation above prior year level Electricity generation volumes GWh % − Y-o-y increase in renewable energy generation driven by higher Total 629 7.3 Renewable energy sources 562 34.4 wind and water flows combined with capacity expansion Thermal energy sourc
Slide 7: Networks
Networks Network distribution Q. 1 2023/24 +/– • Decline in electricity and natural gas network volumes GWh % sales volumes Electricity 2,064 -4.3 − Warmer temperatures y-o-y as well as consumers‘ energy saving Natural gas1) 3,671 -9.0 efforts and expansion of customer-operated PV equipment − Lower
Slide 8: South East Europe
South East Europe Key energy business Q. 1 2023/24 +/– • Electricity generation volumes lower y-o-y indicators GWh % − Reduced water flows y-o-y in North Macedonia Electricity generation volumes 105 -6.7 Network distribution volumes 3,531 4.3 − Maintenance-related decline at cogeneration plant in Bu
Slide 9: Environment
Environment Q. 1 2023/24 +/– • Decrease in EBITDA, EBIT and result before Financial performance EURm % income tax Revenue 109.3 -30.9 EBITDA -1.4 - − Completion of wastewater treatment plant in Kuwait as main EBIT -7.3 - impact for decline in revenue and operating expenses Financial results -5.6 -88
Slide 10: Cash flows
Cash flows Q. 1 2023/24 +/– • Lower gross cash flow EURm in % -29.9 − Lower earnings recorded in the reporting period Gross cash flow 216.8 Net cash flow from operating activities 87.2 - − Lower dividends from equity accounted investees Net cash flow from investing activities 34.8 -53.1 Net cash flo
Slide 11: Outlook for 2023/24 financial year confirmed
Outlook for 2023/24 financial year confirmed Group net result for 2023/24 is expected to range from EUR 420m to EUR 460m − Under the assumption of a stable regulatory and energy policy environment EVN’s dividend policy reflects investment and growth perspectives up to 2030 and beyond − Dividend
Slide 12: Appendix
EVN Appendix
Slide 13: Regulated business in Austria
Regulated business in Austria Network Electricity Natural gas Comments Regulatory authority Start of the regulatory period 01.01.2024 01.01.2023 Next regulatory adjustment 01.01.2029 01.01.2028 Adjustment of WACC and productivity factors Duration of the regulatory period 5 years 5 years Regulatory m
Slide 14: Segment outlook for 2023/24
Segment outlook for 2023/24 0utlook Segments Comments 2023/24 Segment EBIT expected to be above prior year's level at the lower end of the range of EUR 45m to EUR 70m Energy – Return of the results of the energy supply company EVN KG to positive levels expected; development in view of the gradual
Slide 15: Contact details
Contact details • Stefan Szyszkowitz, CEO • Information on the internet − www.evn.at • IR contact partners: − www.investor.evn.at − Karin Krammer − www.responsibility.evn.at − Doris Lohwasser − Matthias Neumüller • Headquarters of EVN AG − Gerald Reidinger − EVN Platz 2344 Maria Enzersdorf • IR cont
Slide 16: Disclaimer
Disclaimer Certain statements made in this presentation may constitute „Forward-Looking Statements” within the meaning of the U.S. federal securities law. Forward-looking information is subject to various known and unknown risks and uncertainties. These include statements concerning our expectations