Acea S.p.A. · MIL:ACE
Acea — 9M 2017 Earnings Presentation
14 slides from Acea's earnings presentation, Oct 27, 2017
Slide 1: 9M 2017 Results
9M 2017 Results Roma, 27 ottobre 2017
Slide 2: Executive Summary 9M 2017
Executive Summary 9M 2017 Acea Group 9M 2017 RESULTS • The 9M 2017 results are in line with expectations and show growth across all adjusted performance indicators: EBITDA €626m +10% EBIT €320m + 6% Net profit €173m +16% 2017 GUIDANCE • Guidance confirmed in terms of: EBITDA 2017 +4%/+6% ver
Slide 3: 9M 2017 financial highlights
9M 2017 financial highlights Acea Group 9M 2017 9M 2016 % change 9M 2017 9M 2016 % change (€m) adjusted* adjusted* a b a/b c d c/d Consolidated revenue 2,037.9 2,047.5 -0.5% 2,037.9 1,971.0 +3.4% EBITDA 625.8 646.1 -3.1% 625.8 569.6 +9.9% EBIT 291.3 378.1 -23.0% 319.5 301.6 +5.9% Group net profit/(l
Slide 4: EBITDA
EBITDA Acea Group 2% 2% Water 24% 7% EBITDA from Energy Infrastructure unregulated 9% Commercial and Trading 42% 9M 2017 EBITDA businesses Environment Overseas EBITDA from Engineering and Services regulated 38% businesses 76% EBITDA (€m) Change in scope of consolidation versus 9M 2016 41.8 4.8 10.3
Slide 5: EBITDA and Key quantitative data Water
EBITDA and Key quantitative data Acea Group 9M 2017 financial highlights Acea ATO2: +€18.8m Acea ATO5: +€0.8m Water Change in scope of consolidation EBITDA main drivers Companies consolidated using equity method -€3.1m (€m) 9M 17 9M 16 % change Key quantitative data 9M 17 9M 16 pro-forma pro-forma E
Slide 6: EBITDA and Key quantitative data Energy Infrastructure
EBITDA and Key quantitative data Acea Group 9M 2017 financial highlights Energy Distribution +€35.5m (adjusted) Infrastructure Generation +€4.4m (mainly to increase hydroelectric production) Public Lighting – LED plan launched in June 2016 (+€1.9 m) EBITDA main drivers (€m) 9M 17 9M 16 9M 16 %change
Slide 7: EBITDA and Key quantitative data Commercial and Trading
EBITDA and Key quantitative data Acea Group 9M 2017 financial highlights Recognition, in Q2 2016, of additional revenue of approximately €10m linked Commercial and to impact of the contract, entered into in March 2016, for the commercialisation of smart meters. Trading EBITDA main drivers Sales acti
Slide 8: EBITDA and Key quantitative data Environment
EBITDA and Key quantitative data Acea Group 9M 2017 financial highlights Greater quantity of electricity sold by the San Vittore plant Environment Aprilia composting plant fully operational. EBITDA main drivers Change in scope of consolidation (Acque Industriali and Iseco) (€m) 9M 17 9M 16 % change
Slide 9: EBITDA and Key quantitative data Overseas, Engineering and Services, Holding
EBITDA and Key quantitative data Acea Group 9M 2017 financial highlights Revenue growth due to increased turnover Engineering Transfer of Facility Management services Overseas Line-by-line consolidation Aguas de San Pedro: +€9.2m and Services from Acea Line-by-line consolidation of TWS EBITDA main d
Slide 10: EBIT and Net profit
EBIT and Net profit Acea Group EBIT (€m) NET PROFIT (€m) EBIT 378.1 319.5 Adjusted EBIT Net Profit 200.9 173.4 Adjusted Net Profit Regulatory 76.5 Regulatory accounting - Restored ownership of a accounting 51.5 28.2 property housing a car park 20.8 - Restored ownership of a and reduction in amounts
Slide 11: Cash flow
Cash flow Acea Group CASH FLOW ANALYSIS (€m) 9M 17 9M 16 EBITDA 626 646 Change in net working capital (345) (182) Investment (369) (349) Free Cash Flow (88) 115 Net finance income/(costs) (51) (61) Income tax expense (74) (51) Dividends (132) (107) Other (15) (25) Total Cash Flow (360) (129) Net Deb
Slide 12: Net Debt
Acea Group Net Debt 30 Sept. 2017 31 Dec. 2016 30 Sept. 2016 Change Change (€m) (a) (b) (c) (a-b) (a-c) NET DEBT 2,487.3 2,126.9 2,138.7 360.4 348.6 Medium/Long-term 2,475.9 2,743.1 2,609.6 (267.2) (133.7) Short-term 11.4 (616.2) (470.9) 627.6 482.3 Adjusted NET DEBT* 2,428.3 2,126.9 2,138.7 301.4 2
Slide 13: Q&A session
Acea Group Acea Group 9M 2017 Results Q&A session 9M2017 Results 13
Slide 14: Disclaimer
Disclaimer Acea Group THIS PRESENTATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS THAT REFLECT THE COMPANY’S MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND FINANCIAL AND OPERATIONAL PERFORMANCE OF THE COMPANY AND ITS SUBSIDIARIES. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON ACEA S.