Acea S.p.a. · MIL:ACE
Acea — H1 2016 Earnings Presentation
10 slides from Acea's earnings presentation, Jul 28, 2016
Slide 1: Acea Group H1 2016 Results
Acea Group H1 2016 Results Rome, 28 July 2016
Slide 2: Financial highlights
Financial highlights H1 2015 H1 2016 % (€m) change Consolidated revenues 1,441.1 1,386.7 -3.8% EBITDA 353.3 443.7 +25.6% Impact of accounting for Resolution 654/2015: €63.3m EBIT 202.7 274.1 +35.2% Profit/(loss) before tax 156.8 232.3 +48.2% Net Profit/(Loss) 103.6 154.3 +48.9% Minority Interest 4.3
Slide 3: EBITDA
EBITDA EBITDA H1 2016 Number of employees H1 2015 H1 2016 Acea Spa 652 627 Environment 220 231 6% 22% Environment EBITDA from Energy 541 557 regulated Energy 16% businesses Water ° 1,967 1,991 Water EBITDA from Network 1,344 1,310 Grids 41% unregulated businesses Total 4,724 4,716 37% 78% °Figures d
Slide 4: EBITDA and Key quantitative data: Environment and Energy
EBITDA and Key quantitative data Environment Aria: +€0.5m SAO: +€1.4m EBITDA main drivers H1 H1 H1 H1 (€m) % change Key quantitative data 2015 2016 2015 2016 Treatment and disposal EBITDA 27.1 29.2 +7.7 380 411 (/000s of tonnes) Capex 9.8 8.0 -18.4% WTE electricity sold (GWh) 132 134 Energy Electric
Slide 5: EBITDA and Key quantitative data: Water
EBITDA and Key quantitative data Efficiency Acea ATO2: +€18.5m (FNI €11.9m)^ Water Growth at companies consolidated using the equity method (Toscana, EBITDA main drivers Umbria)+€1.8m Overseas water operations: -€3.5m (primarily due to expiry of the contract in Lima in May 2015) H1 H1 H1 H1 (€m) % c
Slide 6: EBITDA and Key quantitative data: Grids and Corporate
EBITDA and Key quantitative data Grids Recognition of the positive component linked to the regulatory change introduced by AEEGSI Resolution 654/2015: +€63.3m EBITDA main drivers Public Lighting: -€1.1m Areti margin decrease: -€3.5m H1 H1 % H1 H1 (€m) Key quantitative data 2015 2016 change 2015 2016
Slide 7: EBIT and Net Profit
EBIT and Net Profit EBIT (€m) NET PROFIT (€m) 274.1 63.3 Regulatory change 202.7 149.5 210.8 Regulatory change 99.3 41.0 108.5 H1 2015 H1 2016 H1 2015 H1 2016 (€m) H1 H1 % 2015 2016 change Higher depreciation as a result of increased Depreciation 110.3 117.1 +6.2% investment Write-off decrease mainl
Slide 8: Cash flow
Cash flow CASH FLOW ANALYSIS (€m) 1H15 2015 1H16 EBITDA 353 732 444 Change in net working capital (23) 113 (97) Investment (168) (423) (221) Change in net fixed assets (17) (51) (9) Free Cash Flow 1 145 371 117 Net finance income/(costs) (45) (90) (42) Income tax expense (53) (115) (78) Free Cash Fl
Slide 9: Net Debt
Net Debt 30 June 2015 31 Dec 2015 30 June 2016 Change Change (€m) (a) (b) (c-a) (c-b) (c) NET DEBT 2,128.9 2,010.1 2,131.9 3.0 121.8 Medium/Long-term 2,671.2 2,657.0 2,637.4 (33.8) (19.6) Short-term (542.3) (646.9) (505.5) 36.8 141.4 NET DEBT/ EQUITY NET DEBT/ EQUITY 31 Dec 2015 30 June 2016 1.3x 1.
Slide 10: Disclaimer
Disclaimer THIS PRESENTATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS THAT REFLECT THE COMPANY’S MANAGEMENT’S CURRENT VIEWS WHIT RESPECT TO FUTURE EVENTS AND FINANCIAL AND OPERATIONAL PERFORMANCE OF THE COMPANY AND ITS SUBSIDIARIES. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON ACEA S.P.A.’S CURR