Edison Spa · MIL:EDNR

Edison Spa — Q1 2019 Earnings Presentation

14 slides from Edison Spa's earnings presentation, May 2019

  1. Slide 1: First Quarter 2019 Results

    FIRST QUARTER 2019 RESULTS Milan, May 2019 Full Year 2016 results | Feb.’17 | 1

  2. Slide 2: Business Environment

    BUSINESS ENVIRONMENT €. oo? WEN EDISON

  3. Slide 3: Electric Power Availability Mix in Italy

    ELECTRIC POWER AVAILABILITY MIX IN ITALY (TWh) 81,1 (1,0%) 80,3 (23,0%) 10,4 13,5 5,2 +25,5% 6,5 Pumping 6,1 +16,2% 7,1 Net import 8,5 (12,0%) 7,5 Other renewable production Wind production National Generation: Hydroelectric production 70.6 TWh (+3,3%) 48,5 +2,0% 49,4 Thermoelectric production -0,7

  4. Slide 4: Gas Demand in Italy

    GAS DEMAND IN ITALY (Mcm) 26,0 (1,7%) 25,5 (2,3%) 0,4 0,4 6,1 +10,2% 6,7 System uses and losses Thermoelectric users 4,9 Industrial users (1,2%) 4,9 Services and residential users 14,5 (6,9%) 13,5 1Q2018 1Q2019 Gas demand was lower yoy due to lower residential consumption, as a result of warm temper

  5. Slide 5: Market Reference Scenario

    MARKET REFERENCE SCENARIO BRENT1 PSV Avg 1Q2019: 22.0 (€c/scm) Avg 1Q2018: 23.1 Avg 1Q2019: 63.9 $/bbl Avg FY2018: 25.6 56.3 €/bbl Avg 1Q2018: 67.1 $/bbl 54.6 €/bbl Avg FY2018: 71.5 $/bbl 60.6 €/bbl PUN TWA Avg 1Q2019: 59.4 CSS2 Avg 1Q2019: 0.1 (€/MWh) (€/MWh) Avg 1Q2018: -2.0 Avg 1Q2018: 54.3 Avg F

  6. Slide 6: First Quarter 2019 Results

    FIRST QUARTER 2019 RESULTS • Edison electric power and hydrocarbons sources and uses • Consolidated financial highlights and capital expenditures • Operating performance • Net financial debt and cash flow | 6

  7. Slide 7: Edison Electric Power Volumes in Italy

    EDISON ELECTRIC POWER VOLUMES IN ITALY SOURCES USES (TWh) (TWh) 10,9 (6,3%) 10,9 (6,3%) 10,2 10,2 0,3 +39,2% 0,5 0,5 (5,7%) 0,4 3,4 +11.0% 3,9 3,7 +10,3% 4,3 (14,0%) 7,5 6,1 (19,4%) 6,4 4,9 1Q2018 * 1Q2019 1Q2018 * 1Q2019 Wind & other renewable production Other sales (wholesalers, IPEX, etc.) End cu

  8. Slide 8: Edison Hydrocarbons Volumes

    EDISON HYDROCARBONS VOLUMES GAS PORTFOLIO IN ITALY SOURCES USES (bcm) 6,0 (8,3%) (bcm) 5,5 6,0 (8,3%) 0,2 +37,5% 5,5 0,3 1,9 1,6 (38,5%) 1,0 (12,0%) 1,6 1,8 (1,4%) 1,8 (9,2%) 3,8 3,4 1,4 1,2 +10,2% 1,3 1,3 (13,1%) +1,6% 0,1 0,1 1Q2018 1Q2019 1Q2018 1Q2019 Production (a) Imports (pipeline + LNG) Resi

  9. Slide 9: Edison Hydrocarbons Volumes

    EDISON HYDROCARBONS VOLUMES E&P OPERATIONS GAS PRODUCTION OIL PRODUCTION (mcm) (kbbl) 552 (2,7%) 537 1.023 (4,9%) 973 97 (13,1%) 84 401 +3,5% 415 455 (0,4%) 453 622 (10,3%) 558 1Q2018 1Q2019 1Q2018 1Q2019 International production (a) Domestic production (b) International production (a) Domestic prod

  10. Slide 10: Group Consolidated Highlights

    GROUP CONSOLIDATED HIGHLIGHTS (€ mln) FY2018b 1Q2018a-b 1Q2019c D Net capex & net financial investmentsd) 9.159 Sales revenues 2.419 2.511 3,8% 52 49 793 EBITDA 201 255 26,9% 6 4 199 EBIT 95 150 57,9% 7 184 Profit (loss) before taxes 80 137 71,3% 54 Group net income (loss) 42 79 88,1% 31 39 830 Net

  11. Slide 11: Operating Performance Breakdown

    OPERATING PERFORMANCE BREAKDOWN Electric Power Hydrocarbons Corporate and other Total Edison Group (€ mln) 1Q2018 1Q2019 ∆ 1Q2018 1Q2019 ∆ 1Q2018 1Q2019 ∆ 1Q2018 1Q2019 ∆ a 949 1.068 12,5% 1.657 1.696 2,4% (187) (253) (35,3%) 2.419 2.511 3,8% Sales revenues EBITDA 93 118 26,9% 133 157 18,0% (25) (20

  12. Slide 12: From Consolidated EBITDA to Net Result

    FROM CONSOLIDATED EBITDA TO NET RESULT (€ mln) IQ2018a) IQ2019b) D EBITDA 201 255 54 Depreciation, amortization and writedowns (106) (112) (6) 1Q19 Edison net profit increased yoy, of which: writedowns (2) 0 2 of which: exploration costs (6) (4) 2 mainly thanks to the positive Net change in fair val

  13. Slide 13: Net Financial Debt and Cash Flow

    NET FINANCIAL DEBT AND CASH FLOW NET FINANCIAL DEBT NET CASH FLOW OF THE PERIOD (€ mln) (€ mln) +199 255 238 615 165 199 416 6 13 45 13 Dec 31, 2018 March 31, 2019 Changes IFRS 16 Net EBITDA in working financial Taxes Net Increase in Leasinga Other capital expenses investmentsb net financial debt Ne

  14. Slide 14: 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

Edison — Q1 2019 Earnings Presentation on 6ix