Slide 1: 6M 2025 Consolidated Results Conference Call
6M 2025 CONSOLIDATED RESULTS Gruppo Ascopiave 6M 2025 CONSOLIDATED RESULTS Conference Call Pieve di Soligo, 31st July 2025 Gruppo 1
Slide 2: Contents
Contents 6M 2025 CONSOLIDATED RESULTS Financial highlights ……………………………………………………………………………………………………………………….……………………………………… Pag. 3 Companies consolidated with full consolidation method …………………………………………………………….. Pag. 7 Disclaimer …………………………………………………………….………………………………………………………………………………………………………………………… Pag
Slide 3: Contents: Financial highlights
Contents 6M 2025 CONSOLIDATED RESULTS Financial highlights → Ascopiave Group structure as of 30th June 2025 → 6M 2025 consolidated income statement → Consolidated balance sheet as of 30th June 2025 Companies consolidated with full consolidation method Disclaimer Financial highlights 3
Slide 4: Ascopiave Group structure as of 30th June 2025
Ascopiave Group structure as of 30th June 2025 6M 2025 CONSOLIDATED RESULTS 100% 13% 100% 3% 18.33% 5% 100% Gas Distribution 100% Water Service RES Production Gas & Electricity sales 90% GREEN ICT services FACTORY Multi-Utility Financial highlights 4
Slide 5: 6M 2025 consolidated income statement
6M 2025 consolidated income statement 6M 2025 CONSOLIDATED RESULTS (Thousand of Euro) 6M 2025 6M 2024 Chg Chg % Revenues 107,939 99,091 8,847 +9% (Purchase costs for materials) (1,152) (1,082) (70) +6% (Costs for services) (30,394) (25,830) (4,564) +18% (Costs for personnel) (10,946) (10,448) (498)
Slide 6: Consolidated balance sheet as of 30th June 2025
Consolidated balance sheet as of 30th June 2025 6M 2025 CONSOLIDATED RESULTS (Thousand of Euro) 30/06/2025 31/12/2024 Chg Chg % Tangible assets (*) 166,048 161,897 4,150 +3% Non tangible assets (*) 796,927 787,419 9,508 +1% Investments in associates (**) 108,243 105,472 2,772 +3% Other fixed assets
Slide 7: Contents
Contents 6M 2025 CONSOLIDATED RESULTS Financial highlights Companies consolidated with full consolidation method → Operating data → Revenues bridge → EBIT bridge → Gas distribution tariff revenues and revenues from RES → Other net operating costs → Personnel → Capex → Net financial position and cash
Slide 8: Operating data – gas distribution
Operating data – gas distribution 6M 2025 CONSOLIDATED RESULTS Number of gas distribution users Volumes of gas distributed (Million of standard cubic meters) -2,143 -4.9 -0% -1% 811.0 816.0 869,267 871,410 30/06/2025 31/12/2024 6M 2025 6M 2024 Companies consolidated with full consolidation method 8
Slide 9: Operating data – renewable energies
Operating data – renewable energies 6M 2025 CONSOLIDATED RESULTS Volumes of electricity produced (GWh) -32.1 -25% 126.5 94.4 6M 2025 6M 2024 Companies consolidated with full consolidation method 9
Slide 10: Revenues bridge
Revenues bridge 6M 2025 CONSOLIDATED RESULTS Revenues bridge (Thousand of Euro) +8,847 +9% 8,845 1,354 2,892 4,244 107,939 99,091 6M 2024 Gas distribution Revenues Revenues from Other revenues 6M 2025 tariff revenues from RES energy (*) efficiency certificates (*) Tariff revenues include the tariff
Slide 11: EBIT bridge
EBIT bridge 6M 2025 CONSOLIDATED RESULTS EBIT bridge (Thousand of Euro) +29,508 +124% 26,380 2,065 8,846 591 4,244 53,219 23,711 6M 2024 Gas Revenues Depreciations Capital gains Other net 6M 2025 distribution from RES and sale Estenergy operating tariff revenues amortizations shares costs (*) (*) Fu
Slide 12: Gas distribution tariff revenues and revenues from RES
Gas distribution tariff revenues and revenues from RES 6M 2025 CONSOLIDATED RESULTS Gas distribution tariff revenues (Thousand of Euro) (*) 6M 2025 6M 2024 Chg Chg % Gas distribution tariff revenues 77,406 68,560 8,846 +13% Gas distribution tariff revenues 77,406 68,560 8,846 +13% Increase of gas di
Slide 13: Other net operating costs
Other net operating costs 6M 2025 CONSOLIDATED RESULTS Other net operating costs (Thousand of Euro) 6M 2025 6M 2024 Chg Chg % Other revenues 18,250 14,004 4,246 +30% Other costs of raw materials and services (44,936) (39,123) (5,813) +15% Cost of personnel (10,946) (10,448) (498) +5% Other net opera
Slide 14: Personnel (1/2)
Personnel (1/2) 6M 2025 CONSOLIDATED RESULTS Number of employees -1 -0% 494 495 30/06/2025 31/12/2024 Companies consolidated with full consolidation method 14
Slide 15: Personnel (2/2)
Personnel (2/2) 6M 2025 CONSOLIDATED RESULTS Cost of personnel (Thousand of Euro) +498 +5% 1,394 Cost of personnel changes: 896 ▪ capitalized cost of personnel: 10,448 10,946 - Euro 0.9 mln ▪ other: + Euro 1.4 mln 6M 2024 Capitalized cost of Other changes 6M 2025 personnel Companies consolidated wit
Slide 16: Capex
Capex 6M 2025 CONSOLIDATED RESULTS Capex (*) (**) (Thousand of Euro) +3,045 +9% ▪ Gas distribution systems: Euro 20.6 mln ▪ Gas meters: Euro 5.7 mln ▪ Investments in renewable 35,572 energies: Euro 6.5 mln 32,527 ▪ Investments in land and buildings: Euro 1.6 mln ▪ Investments in hardware and 6M 2025
Slide 17: Net financial position and cash flow
Net financial position and cash flow 6M 2025 CONSOLIDATED RESULTS Net financial position and cash flow (Thousand of Euro) 445,389 234,066 35,572 32,465 38,077 12,696 26,400 589,788 +202,187 387,602 +52% 31/12/2024 Cash flow Capex Change in NWC Dividends Change in Purchase of Realization of 30/06/202
Slide 18: Financial debt
Financial debt 6M 2025 CONSOLIDATED RESULTS Financial debt (Thousand of Euro) (*) 30/06/2025 31/12/2024 Chg Chg % Long term financial borrowings 368,506 229,824 138,682 +60% Current position of long term financial borrowings 57,773 56,688 1,085 +2% Long term bond loans 146,053 78,805 67,248 +85% Cur
Slide 19: Disclaimer
Contents 6M 2025 CONSOLIDATED RESULTS Financial highlights Companies consolidated with full consolidation method Disclaimer Disclaimer 19
Slide 20: Disclaimer
Disclaimer 6M 2025 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