Slide 1: 1stH 2017 Consolidated Results Conference Call
Gruppo 1stH 2017 CONSOLIDATED RESULTS Conference Call Pieve di Soligo, 1st August 2017 1
Slide 2: Contents
Contents CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 Financial highlights → Ascopiave Group structure as of 30th June 2017 → 1stH 2017 consolidated income statement → Consolidated balance sheet as of 30th June 2017 Operating data Revenues and EBITDA Gross margin o
Slide 3: Ascopiave Group structure as of 30th June 2017
Ascopiave Group structure as of 30th June 2017 CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 100% 89% 100% 51% 100% 100% 100% 48,999% 100% 49% 100% 100% 48,86% 100% 80% Companies consolidated with net equity method: Since year of registration: Sinergie Italiane 30,9
Slide 4: 1stH 2017 consolidated income statement
1stH 2017 consolidated income statement CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 (Thousand of Euro) 1stH 2017 1stH 2016 Chg Chg % Revenues 297.500 265.811 31.689 +11,9% (Cost of raw materials and consumables) (156.182) (143.023) (13.159) +9,2% (Cost of services
Slide 5: Consolidated balance sheet as of 30th June 2017
Consolidated balance sheet as of 30th June 2017 CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 (Thousand of Euro) 30/06/2017 31/12/2016 Chg Chg % Tangible assets (*) 33.867 32.364 1.503 +4,6% Non tangible assets (*) 425.632 397.664 27.968 +7,0% Investments in associa
Slide 6: Contents
Contents CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 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 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 Volumes of gas distributed (Million of standard cubic meters) ∆ = +39,5 ∆ = +0,9 +8,8% +2,1% 489,2 Companies consolidated Companies consolidated with full consolidation method with net equity c
Slide 8: Volumes of gas sold
Volumes of gas sold CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 Volumes of gas sold (Million of standard cubic meters) ∆ = +3,3 ∆ = +0,1 +0,7% +0,1% 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 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 Volumes of electricity sold (GWh) ∆ = +22,3 ∆ = +2,0 +13,6% +8,2% Companies consolidated Companies consolidated with full consolidation method with net equity consolidation method (*) (*) Data
Slide 10: Contents
Contents CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 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 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 Revenues bridge Companies consolidated with full consolidation method (Thousand of Euro) ∆ = +31.689 +11,9% 11
Slide 12: Revenues bridge (2)
Revenues bridge (2) CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 Revenues bridge Companies consolidated with full consolidation method (Thousand of Euro) ∆ = +31.689 +11,9% 12
Slide 13: Revenues bridge (3)
Revenues bridge (3) CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 Revenues bridge Companies consolidated with net equity consolidation method (*) (Thousand of Euro) ∆ = -77 -0,2% (*) Sinergie Italiane excluded. Data are considered pro-rata. 13
Slide 14: EBITDA bridge (1)
EBITDA bridge (1) CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 EBITDA bridge Companies consolidated with full consolidation method (Thousand of Euro) ∆ =+295 +0,6% 14
Slide 15: EBITDA bridge (2)
EBITDA bridge (2) CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 EBITDA bridge Companies consolidated with full consolidation method (Thousand of Euro) ∆ =+295 +0,6% 15
Slide 16: EBITDA bridge (3)
EBITDA bridge (3) CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 EBITDA bridge Companies consolidated with net equity consolidation method (*) (Thousand of Euro) ∆ = -12 -0,2% (*) Sinergie Italiane excluded. Data are considered pro-rata. 16
Slide 17: EBITDA breakdown (1)
EBITDA breakdown (1) CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 EBITDA breakdown Companies consolidated with full consolidation method (Thousand of Euro) (Thousand of Euro) 1stH 2017 1stH 2016 Var Var % EBITDA 49.228 48.933 295 +0,6% EBITDA - Sale 26.422 32.070 (
Slide 18: EBITDA breakdown (2)
EBITDA breakdown (2) CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 EBITDA breakdown Companies consolidated with net equity consolidation method (*) (Thousand of Euro) (Thousand of Euro) 1stH 2017 1stH 2016 Var Var % EBITDA 7.429 7.441 (12) -0,2% EBITDA - Sale 6.081
Slide 19: Contents
Contents CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 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 electricity sales → Gas distribution
Slide 20: Gross margin on gas sales
Gross margin on gas sales CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 (Thousand of Euro) (*) 1stH 2017 1stH 2016 Chg Chg % Revenues from gas sales 203.961 198.255 5.706 +2,9% (Gas purchase costs) (118.228) (110.946) (7.282) +6,6% (Distribution costs) (48.866) (45.
Slide 21: Gross margin on electricity sales
Gross margin on electricity sales CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 (Thousand of Euro) (*) 1stH 2017 1stH 2016 Chg Chg % Revenues from elecricity sales 43.609 43.046 562 +1,3% (Electricity purchase costs) (25.251) (22.673) (2.578) +11,4% (Distribution co
Slide 22: Gas distribution tariff revenues
Gas distribution tariff revenues CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 (Thousand of Euro) (*) 1stH 2017 1stH 2016 Chg Chg % Tariffs applied to sales companies 31.470 30.050 1.420 +4,7% Equalization amount (+ / -) 1.655 (199) 1.853 -933,5% Gas distribution ta
Slide 23: Other net operating costs (1)
Other net operating costs (1) CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 (Thousand of Euro) 1stH 2017 1stH 2016 Chg Chg % Other revenues 29.017 12.382 16.635 +134,3% Other costs of raw materials and services (39.906) (26.909) (12.997) +48,3% Cost of personnel (13
Slide 24: Other operating costs (2)
Other operating costs (2) CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 (Thousand of Euro) 1stH 2017 1stH 2016 Chg Chg % Other net operating costs (A) Company consolidated with full (23.901) (25.840) 1.938 -7,5% consolidation method Other net operating costs (B) Com
Slide 25: Contents
Contents CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 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 26: Number of employees
Number of employees CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 Number of employees ∆ = +48 ∆ = -1 +10,0% -0,7% 530 Companies consolidated Companies consolidated with full consolidation method with net equity consolidation method (*) Change of the consolidation ar
Slide 27: Consolidated cost of personnel
Consolidated cost of personnel CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 Consolidated cost of personnel (Thousand of Euro) ∆ = +1.699 +15,0% Cost of personnel changes: change of the consolidation area: + Euro 0,5 mln capitalized cost of personnel: + Euro 0,3 mln
Slide 28: Contents
Contents CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 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 28
Slide 29: Capex
Capex CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 Consolidated capex (*) (Thousand of Euro) ∆ = +894 +9,3% Change of the consolidation area: Euro 1,3 mln 10.464 (**) Gas distribution systems: Euro 4,4 mln Gas meters: Euro 4,1 mln Other: Euro 0,7 mln Change of the
Slide 30: Contents
Contents CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 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 30
Slide 31: Net financial position and cash flow (1)
Net financial position and cash flow (1) CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 Net Financial Position and cash flow Companies consolidated with full consolidation method (Thousand of Euro) ∆ = +27.010 -28,7% 31
Slide 32: Net financial position and cash flow (2)
Net financial position and cash flow (2) CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 Net Financial Position and cash flow Companies consolidated with net equity consolidation method (*) (Thousand of Euro) ∆ = +4.890 +152,7% (*) Sinergie Italiane excluded. Data are
Slide 33: Net financial position and cash flow (3)
Net financial position and cash flow (3) CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 2017 (Thousand of Euro) (*) 30/06/2017 31/12/2016 Var Var % Long term financial borrowings (>12 months) 29.273 34.541 (5.268) -15,3% Current position of long term financial borrowings
Slide 34: Contents
Contents CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 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 34
Slide 35: Disclaimer
Disclaimer CONFERENCE CALL 1stH 2017 consolidated results Pieve di Soligo, 1st August 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