Slide 1: 9M 2020 Consolidated Results
9M 2020 CONSOLIDATED RESULTS Gruppo Ascopiave 9M 2020 CONSOLIDATED RESULTS Conference Call Pieve di Soligo, 10th November 2020 Gruppo 1
Slide 2: Contents
Contents 9M 2020 CONSOLIDATED RESULTS Preliminary remark ………………………………………………………………………………………………………………………………………………………….…. Pag. 3 Financial highlights ……………………………………………………………………………………………………………………….……………………………………… Pag. 5 Companies consolidated with full and with net equity consolidation method …… Pag. 9
Slide 3: Preliminary remark
Contents 9M 2020 CONSOLIDATED RESULTS Preliminary remark → Ascopiave - Hera partnership Financial highlights Companies consolidated with full and with net equity consolidation method Estenergy Disclaimer Preliminary remark 3
Slide 4: Ascopiave – Hera partnership
Ascopiave – Hera partnership 9M 2020 CONSOLIDATED RESULTS On 19th December 2019 Ascopiave S.p.A. and Hera S.p.A. have finalized the transaction that marks the birth of the largest energy operator in North-Eastern Italy, with over one million customers, and the simultaneous reorganization of the resp
Slide 5: Financial highlights
Contents 9M 2020 CONSOLIDATED RESULTS Preliminary remark Financial highlights → Ascopiave Group structure as of 30th September 2020 → 9M 2020 consolidated income statement → Consolidated balance sheet as of 30th September 2020 Companies consolidated with full and with net equity consolidation method
Slide 6: Ascopiave Group structure as of 30th September 2020
Ascopiave Group structure as of 30th September 2020 9M 2020 CONSOLIDATED RESULTS 100% 48% 100% 89% 100% 51% 100% 49% 100% 100% 100% 100% Acquired from Hera Group 30,94% (in liquidation) 100% Acquired from Hera comm NordEst Group 3% Acquired from Hera Group Gas distribution Gas and electricity sales
Slide 7: 9M 2020 consolidated income statement
9M 2020 consolidated income statement 9M 2020 CONSOLIDATED RESULTS (Thousand of Euro) 9M 2020 9M 2019 Chg Chg % Revenues 129.347 90.017 39.331 +44% (Cost of raw materials and consumables) (1.313) (1.712) 400 -23% (Cost of services) (27.585) (23.831) (3.754) +16% (Cost of personnel) (13.748) (10.979)
Slide 8: Consolidated balance sheet as of 30th September 2020
Consolidated balance sheet as of 30th September 2020 9M 2020 CONSOLIDATED RESULTS (Thousand of Euro) 30/09/2020 31/12/2019 Chg Chg % Tangible assets (*) 33.951 34.694 (743) -2% Non tangible assets (*) 617.988 615.108 2.880 +0% Investments in associates (**) 502.670 449.945 52.725 +12% Other fixed as
Slide 9: Companies consolidated with full and net equity method
Contents 9M 2020 CONSOLIDATED RESULTS Preliminary remark Financial highlights Companies consolidated with full and with net equity consolidation method → Operating data → Economic data → Revenues bridge → EBIT bridge → Gas distribution tariff revenues → Other net operating costs → Personnel → Capex
Slide 10: Operating data
Operating data 9M 2020 CONSOLIDATED RESULTS Number of gas distribution users Volumes of gas distributed (Million of standard cubic meters) -1.266 +147,7 -0% +18% 775.986 948,2 777.252 211,8 800,5 (*) 736,3 30/09/2020 31/12/2019 9M 2020 9M 2019 New consolidation area (**) Old consolidation area (*) U
Slide 11: Economic data
Economic data 9M 2020 CONSOLIDATED RESULTS Companies consolidated with full consolidation method (Thousand of Euro) 9M 2020 9M 2019 Chg Chg % Revenues 129.347 90.017 39.331 +44% EBITDA 45.118 30.460 14.658 +48% % on revenues +34,9% +34% EBIT 20.014 13.048 6.965 +53% % on revenues +15,5% +14% Compani
Slide 12: Revenues bridge
Revenues bridge 9M 2020 CONSOLIDATED RESULTS Revenues bridge Companies consolidated with full consolidation method (Thousand of Euro) +39.331 +44% (*) (*) Change of the consolidation area refers only to the activities carried out by AP Reti Gas Nord Est. It does not include the contribution of the a
Slide 13: EBIT bridge
EBIT bridge 9M 2020 CONSOLIDATED RESULTS EBIT bridge Companies consolidated with full consolidation method (Thousand of Euro) +6.965 +53% (**) (*) (*) Change of the consolidation area refers only to the activities carried out by AP Reti Gas Nord Est. It does not include the contribution of the activ
Slide 14: Gas distribution tariff revenues
Gas distribution tariff revenues 9M 2020 CONSOLIDATED RESULTS (Thousand of Euro) (*) 9M 2020 9M 2019 Chg Chg % Gas distribution tariff revenues 81.555 58.174 23.381 +40% Gas distribution tariff revenues (A) Companies consolidated with full 81.555 58.174 23.381 +40% consolidation method The increase
Slide 15: Other net operating costs
Other net operating costs 9M 2020 CONSOLIDATED RESULTS (Thousand of Euro) 9M 2020 9M 2019 Chg Chg % Other revenues 46.544 31.400 15.144 +48% Other costs of raw materials and services (69.232) (48.134) (21.097) +44% Cost of personnel (13.748) (10.979) (2.769) +25% Other net operating costs (A) Compan
Slide 16: Personnel (1)
Personnel (1) 9M 2020 CONSOLIDATED RESULTS Number of employees -18 -4% 481 463 30/09/2020 31/12/2019 Companies consolidated with full and with net equity consolidation method 16
Slide 17: Personnel (2)
Personnel (2) 9M 2020 CONSOLIDATED RESULTS Cost of personnel (Thousand of Euro) +2.769 +25% Cost of personnel changes: ▪ new consolidation area: + Euro 2,4 mln (*) ▪ capitalized cost of personnel: + Euro 0,2 mln ▪ other: + Euro 0,2 mln, of which: o + Euro 0,4 mln: compensations related to the short
Slide 18: Capex
Capex 9M 2020 CONSOLIDATED RESULTS Capex (*) (Thousand of Euro) +4.444 +20% ▪ New consolidation area: Euro 4,6 mln (***) 26.171 (**) ▪ Gas distribution systems: 21.727 Euro 15,4 mln ▪ Gas meters: Euro 5,2 mln ▪ Investments in hardware and software: Euro 0,6 mln ▪ Other: Euro 0,4 mln 9M 2020 9M 2019
Slide 19: Net financial position and cash flow (1)
Net financial position and cash flow (1) 9M 2020 CONSOLIDATED RESULTS Net financial position and cash flow Companies consolidated with full consolidation method (Thousand of Euro) -103.661 +49% Companies consolidated with full and with net equity consolidation method 19
Slide 20: Net financial position and cash flow (2)
Net financial position and cash flow (2) 9M 2020 CONSOLIDATED RESULTS (Thousand of Euro) (*) 30/09/2020 31/12/2019 Chg Chg % Long term financial borrowings (>12 months) 127.860 135.083 (7.223) -5% Current position of long term financial borrowings 37.044 30.778 6.266 +20% Short term financial borrow
Slide 21: Estenergy
Contents 9M 2020 CONSOLIDATED RESULTS Preliminary remark Financial highlights Companies consolidated with full and with net equity consolidation method Estenergy → Financial highlights Disclaimer Discontinued companies 21
Slide 22: Estenergy Financial highlights
Financial highlights 9M 2020 CONSOLIDATED RESULTS Income statement (*) Balance sheet (*) (Thousand of Euro) 9M 2020 (Thousand of Euro) 30/09/2020 Tangible assets 1.287 Revenues 249.910 Non tangible assets 315.845 Investments in associates 9.259 (Cost of raw materials and consumables) (124.887) Other
Slide 23: Disclaimer
Contents 9M 2020 CONSOLIDATED RESULTS Preliminary remark Financial highlights Companies consolidated with full and with net equity consolidation method Estenergy Disclaimer Disclaimer 23
Slide 24: Disclaimer
Disclaimer 9M 2020 CONSOLIDATED RESULTS ❑ 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 should be made to publicly available information