Stop parsing PDFs. Get the API. Request Access

AI Terminal

MODULE: AI_ANALYST
Interactive Q&A, Risk Assessment, Summarization
MODULE: DATA_EXTRACT
Excel Export, XBRL Parsing, Table Digitization
MODULE: PEER_COMP
Sector Benchmarking, Sentiment Analysis
SYSTEM ACCESS LOCKED
Authenticate / Register Log In

Ascopiave

Investor Presentation • May 15, 2018

4357_ct_2018-05-15_c4ad79b8-dcce-4f01-95b5-dee7ea324982.pdf

Investor Presentation

Open in Viewer

Opens in native device viewer

1stQ 2018CONSOLIDATED RESULTS

Conference Call

Pieve di Soligo, 15th may 2018

Financial highlights

  • →Ascopiave Group structure as of 31st march 2018
  • →1stQ 2018 consolidated income statement
  • →Consolidated balance sheet as of 31st march 2018

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

1stQ 2018

consolidated results

CONFERENCE CALL

1stQ 2018 consolidated income statement

)
ho
d
f
Eu
us
an
o
ro		 3
M
2
0
1
8		 3
M
2
0
1
7		 C
hg		 C
hg
%
Re
ve
nu
es		 2
0
0.
6
4
8		 1
9
9.
5
0
3		 1.
1
4
5		 0,
6
%
+
Co
(
f ra
ia
ls
d c
b
les
)
t o
te
s
w
ma
r
an
on
su
ma		 (
1
1
7.
4
5
8
)		 (
1
1
3.
4
6
1
)		 (
3.
9
9
7
)		 3,
5
%
+
(
Co
f s
ice
)
t o
s
erv
s		 (
3
1.
4
)
7
7		 (
3
8
6
)
7.
5		 6.
1
1
8		 1
6,
2
%
-
Co
(
f p
l
)
t o
s
ers
on
ne		 (
6.
1
4
9
)		 (
5.
9
5
8
)		 (
1
9
0
)		 3,
2
%
+
(
O
)
he
ing
t
t
ts
r o
p
era
co
s		 (
)
9.
4
5
7		 (
)
5.
6
4
4		 (
)
3.
8
1
3		 6
7,
6
%
+
O
he
ing
inc
t
t
r o
p
era
om
e		 2
2		 5
0		 (
2
8
)		 5
6,
4
%
-
E
B
I
T
D
A		 3
5.
8
6
0		 3
6.
6
2
5		 (
6
5
)
7		 -2
1
%
,
(
)
De
ia
ion
d a
iza
ion
t
t
t
p
rec
s a
n
mo
r
s		 (
)
5.
6
5
0		 (
)
5.
0
6
3		 (
)
5
8
7		 1
1,
6
%
+
(
)
Pr
is
ion
ov
s		 (
)
3
4
5		 (
)
4
7
8		 1
3
3		 2
7,
8
%
-
E
B
I
T		 2
9.
8
6
4		 3
1.
0
8
3		 (
1.
2
1
9
)		 -3
9
%
,
/
(
)
F
ina
ia
l
inc
nc
om
e
ex
p
en
se
s		 (
)
1
8
7		 (
)
6
3		 (
)
1
2
3		 1
9
5,
5
%
+
(
*)
Ev
lua
ion
f c
ies
i
h n
ho
d
t
t
t a
ts
t
a
o
om
p
an
w
e
ss
e
me		 3.
8
3
7		 3.
1
3
7		 0
7		 1,
9
%
+
E
B
T		 3
3.
4
6
0		 3
4.
7
3
3		 (
1.
2
7
3
)		 -3
7
%
,
(
Inc
)
tax
om
e
es		 (
)
8.
4
6
1		 (
)
8.
7
0
3		 2
4
2		 2,
8
%
-
Ne
inc
t
om
e		 2
4.
9
9
9		 2
6.
0
3
0		 (
)
1.
0
3
0		 -4
0
%
,
(
Ne
inc
f m
ino
i
ies
)
t
t
om
e o
r		 (
1.
4
9
)
7		 (
1.
4
8
9
)		 (
9
)		 0,
6
%
+
Ne
inc
f
he
Gr
t
t
om
e o
ou
p		 2
3.
5
0
2		 2
4.
5
4
1		 (
)
1.
0
3
9		 -4
2
%

4

(*) Result of the companies consolidated with net equity consolidation method (data are considered pro-rata): sale companies, Euro 3,1 mln (Euro 3,4 mln in1stQ 2017); distribution companies, Euro 0,2 mln (Euro 0,0 mln in 1stQ 2017); Sinergie Italiane, Euro 0,5 mln (Euro 0,3 mln in 1stQ 2017).

Consolidated balance sheet as of 31st march 2018

T
ho
d
f
Eu
)
us
an
o
ro		 /
/
3
1
0
3
2
0
1
8		 /
/
3
1
1
2
2
0
1
7		 C
h
g		 C
h
%
g
T
i
b
l
t
(
*)
a
n
g
e
a
s
s
e
s		 3
2.
0
2
3		 3
2.
3
3
4		 (
3
1
1
)		 -1
0
%
,
N
i
b
l
t
t
(
*)
o
n
a
n
g
e
a
s
s
e
s		 4
2
7.
2
4
4		 4
2
7.
6
9
2		 (
)
4
4
9		 -0
1
%
,
I
i
i
t
t
t
(
**)
n
e
s
m
e
n
s
n
a
s
s
o
c
a
e
s
v		 1.
4
2
3
7		 6
8.
8
8
7		 2.
4
6
5		 3,
%
7
+
O
h
f
i
d
t
t
e
r
x
e
a
s
s
e
s		 2
4.
0
6
5		 2
4.
4
9
4		 1
3		 0,
1
%
+
F
i
d
t
e
a
s
s
e
s
x		 5
5
5.
1
9
7		 5
5
3.
3
9
7		 1.
7
9
9		 0,
3
%
+
O
i
t
t
t
p
e
r
a
n
g
c
u
r
r
e
n
a
s
s
e
s		 2
4.
3
1
7
5		 2
2
2.
9
7
7		 1.
4
5
5
5		 2
3,
1
%
+
(
O
i
l
i
b
i
l
i
i
)
t
t
t
p
e
r
a
n
g
c
u
r
r
e
n
a
e
s		 (
)
2
5
1.
1
8
8		 (
)
1
5
6.
5
9
7		 (
)
9
4.
5
9
1		 6
0,
4
%
+
(
O
)
i
l
i
b
i
l
i
i
t
t
t
p
e
r
a
n
g
n
o
n
c
u
r
r
e
n
a
e
s		 (
4
9.
0
8
3
)		 (
4
9.
4
1
1
)		 3
2
8		 -0
%
7
,
N
k
i
i
l
t
t
e
o
r
n
g
c
a
p
a
w		 (
2
5.
4
0
)
7		 1
6.
9
6
9		 (
4
2.
1
0
)
7		 -2
5
1,
%
7
T
l
i
l
l
d
t
t
o
a
c
a
p
a
e
m
p
o
y
e		 5
5
2
9.
4
7		 5
7
0.
3
6
7		 (
)
4
0.
9
1
0		 -7
2
%
,
G
h
h
l
d
i
t
r
o
p
s
a
r
e
o
e
r
s
e
q
u
u
y		 4
6
7.
4
6
2		 4
4
5.
5
1
1		 2
1.
9
5
1		 4,
9
%
+
M
i
i
i
t
n
o
r
e
s		 6.
3
9
2		 4.
9
8
9		 1.
4
0
3		 2
8,
1
%
+
f
N
i
i
l
i
i
t
t
e
n
a
n
c
a
p
o
s
o
n		 5
5.
6
0
3		 1
1
9.
8
6
7		 (
)
6
4.
2
6
4		 -5
3,
6
%
T
l
t
o
a
s
o
r
c
e
s
u		 5
2
9.
4
5
7		 5
7
0.
3
6
7		 (
4
0.
9
1
0
)		 -7
2
%
,

(*) Applying IFRIC 12 involves categorising the infrastructures under concession from tangible to intangible assets; (**) Value of the associated companiesconsolidated with net equity consolidation method: sale companies, Euro 50,4 mln (Euro 48,0 mln as of 31st December 2017); distribution companies, Euro 21,1mln (Euro 20,8 mln as of 31st December 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

Personnel

Capex

Net financial position and cash flow

Disclaimer

Pieve di Soligo, 15th may 2018 1stQ 2018
consolidated results		 CONFERENCE CALL
-------------------------------- ----------------------------------- -----------------

7

(*) Data are considered pro-rata.

(*) Data are considered pro-rata.

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 position and cash flow

Disclaimer

1stQ 2018 CONFERENCE CALLconsolidated results Pieve di Soligo, 15th may 2018

11

12

EBITDA breakdownCompanies consolidated with full consolidation method(Thousand of Euro)

(
f
)
T
ho
d
Eu
us
an
o
ro		 3
M
2
0
1
8		 3
M
2
0
1
7		 Va
r		 Va
%
r
E
B
I
T
D
A		 5.
3
8
6
0		 5
3
6.
6
2		 (
5
)
7
6		 -2
1
%
,
E
B
I
T
D
A
Sa
le
-		 2
4
4
1
5.		 2
4
1
5.
7		 (
2
9
9
)		 -1
2
%
,
E
B
I
T
D
A
D
is
i
bu
ion
tr
t
-		 1
1.
1
8
6		 1
1.
1
4
4		 4
2		 0,
4
%
+
E
B
I
T
D
A
As
iav
co
p
e
-		 (
)
7
6
8		 (
)
2
6
0		 (
)
5
0
7		 1
9
5,
1
%
+
E
B
I
T		 2
9.
8
6
4		 3
1.
0
8
3		 (
1.
2
1
9
)		 -3
9
%
,
E
B
I
T
Sa
le
-		 2
4.
5
3
3		 2
4.
6
9
7		 (
)
1
6
3		 -0
7
%
,
E
B
I
T
D
is
i
bu
ion
tr
t
-		 6.
5
2
6		 7.
1
1
3		 (
)
5
8
7		 -8
2
%
,
E
B
I
T
As
iav
co
p
e
-		 (
)
1.
1
9
6		 (
)
7
2
7		 (
)
4
6
9		 6
4,
5
%
+

1stQ 2018 CONFERENCE CALLconsolidated results Pieve di Soligo, 15th may 2018

EBITDA breakdownCompanies consolidated with net equity consolidation method (*)(Thousand of Euro)

(*) Sinergie Italiane excluded. Data are considered pro-rata.

Financial highlightsOperating dataRevenues and EBITDA

Gross margin on gas and electricity sales and other net operating costs

  • →Gross margin on gas sales
  • →Gross margin on trading gas sales
  • →Gross margin on electricity sales
  • →Gas distribution tariff revenues
  • →Other net operating costs

Personnel

Capex

Net fincancial position and cash flow

Disclaimer

1stQ 2018 CONFERENCE CALLconsolidated results Pieve di Soligo, 15th may 2018

3
M
2
0
1
8		 3
M
2
0
1
7		 C
hg		 C
hg
%
1
9.
4
6
8
5		 1
6
1.
1
0
6		 (
1.
6
3
8
)		 -1
0
%
,
(
9
1.
0
1
)
5		 (
9
1.
4
8
0
)		 4
2
9		 -0
%
5
,
(
3
8.
0
9
)
5		 (
3
8.
6
9
)
7		 2
6
0		 -0
%
7
,
2
9.
9
0
8		 3
0.
8
5
7		 (
9
5
0
)		 -3
1
%
,

The decrease of gross margin on gas sales of the companies consolidated with full consolidation method, equal to - Euro 1,0 mln, is both due to lower volumes of gas sold andlower protected market prices as a result of the elimitation of the grad component, despite the better procurement cost and lower costs for exceeding capacity.

(
T
ho
d
f
Eu
)
(
*)
us
an
o
ro		 3
M
2
0
1
8		 3
M
2
0
1
7		 C
hg		 C
hg
%
(
)
Gr
in
les
B
os
s
ma
rg
on
g
as
sa
Co
l
i
da
d
i
h n
i
te
t
t e
ty
mp
an
co
ns
o
e
q
y
w
u
(
**)
l
i
da
ion
ho
d
t
t
co
ns
o
m
e		 5.
8
7
8		 6.
3
6
2		 (
)
4
8
4		 -7
6
%
,
Gr
in
les
(
A+
B
)
os
s
ma
rg
on
g
as
s
a		 3
5.
7
8
5		 3
7.
2
1
9		 (
1.
4
3
4
)		 -3
9
%
,

Gross margin on trading gas sales

ho
d
f
Eu
)
(
*)
us
an
o
ro		 M
3
2
0
1
8		 M
3
2
0
1
7		 C
hg		 C
hg
%
Re
fro
d
ing
les
tra
ve
nu
es
m
g
as
sa		 3.
2
8
2		 - 3.
2
8
2		 n.a
(
)
Tr
d
ing
ha
ts
a
g
as
p
urc
se
co
s		 (
)
3.
1
6
9		 - (
)
3.
1
6
9		 n.a
(
/ c
)
Tr
d
ing
i
tra
t
ty
ts
a
g
as
ns
p
or
ap
ac
co
s		 (
)
3
0		 - (
)
3
0		 n.a
Gr
in
d
in
les
(
A
)
tra
os
s
ma
rg
on
g
g
as
s
a
Co
l
i
da
d
i
h
fu
l
l
te
t
mp
an
y
co
ns
o
w
l
i
da
ion
ho
d
t
t
co
ns
o
m
e		 8
3		 - 8
3		 n.a
ho
d
f
Eu
)
(
*)
us
an
o
ro		 3
M
2
0
1
8		 3
M
2
0
1
7		 C
hg		 C
hg
%
in
in
(
)
Gr
tra
d
les
B
os
s
ma
rg
on
g
g
as
s
a
Co
l
i
da
d
i
h n
i
te
t
t e
ty
mp
an
co
ns
o
e
q
y
w
u
l
i
da
ion
ho
d
t
t
(
**)
co
ns
o
m
e		 - - - n.a

1stQ 2018 CONFERENCE CALLconsolidated results Pieve di Soligo, 15th may 2018

2
8
2
)
(
6
3
1
2		 3.
4
8
9
)
3.
5
0
9		 6.
1
3
9
(
)
5.
4
5
4		 2
6,
1
%
+
4
0,
4
%
+
)
(		 )
8.
6
5
6		 (
)
3
5
7		 4,
1
%
+
5
3
2		 3
2
8		 2
4,
8
%
+
5 3 1.

The increase of gross margin on electricity sales of the companies consolidated with full consolidation method, equal to + Euro 0,3 mln, is due to higher unit profit margins despitelower volumes of electricity sold.

(
T
ho
d
f
Eu
)
(
*)
us
an
o
ro		 3
M
2
0
1
8		 3
M
2
0
1
7		 C
hg		 C
hg
%
Gr
in
lec
ic
i
les
(
B
)
tr
ty
os
s
ma
rg
on
e
sa
Co
l
i
da
d
i
h n
i
te
t
t e
ty
mp
an
y
co
ns
o
w
e
q
u
l
i
da
ion
ho
d
t
t
(
**)
co
ns
o
m
e		 2
9
3		 2
8
1		 1
2		 4,
2
%
+
in
ic
i
(
)
Gr
lec
tr
ty
les
A+
B
os
s
ma
rg
on
e
s
a		 1.
9
4
6		 1.
6
0
6		 3
4
0		 2
1,
2
%
+

1stQ 2018 CONFERENCE CALLconsolidated results Pieve di Soligo, 15th may 2018

1
4.
9
7
7		 3.
1
9
7		 2
1,
3
%
+
2
1,
3
%
1
4.
9
7
7		 3.
1
9
7

The increase of gas distribution tariff revenues of the companies consolidated with full consolidation method (+ Euro 3,2 mln) is due to:

  • 1)change of the consolidation area (AP Reti Gas Vicenza): + Euro 2,9 mln;
  • 2)change of gas distribution tariff revenues: + Euro 0,3 mln.
(
T
ho
d
f
Eu
)
(
*)
us
an
o
ro		 3
M
2
0
1
8		 3
M
2
0
1
7		 C
hg		 C
hg
%
Ga
d
is
i
bu
io
i
f
f r
(
B
)
tr
t
ta
s
n
r
ev
en
ue
s
Co
l
i
da
d
i
h n
i
te
t
t e
ty
mp
an
y
co
ns
o
w
e
q
u
l
i
da
ion
ho
d
(
**)
t
t
co
ns
o
m
e		 1.
4
3
2		 1.
3
9
1		 4
1		 2,
9
%
+
Ga
d
is
i
bu
io
i
f
f r
(
A+
B
)
tr
t
ta
s
n
r
ev
en
ue
s		 1
9.
6
0
6		 1
6.
3
6
8		 3.
2
3
8		 1
9,
8
%
+
3
M
2
0
1
8		 3
M
2
0
1
7		 C
hg		 C
hg
%
1
5.
7
0
6		 1
0.
0
1
8		 5.
6
8
8		 5
6,
8
%
+
(
)
2
3.
5
1
6		 (
)
1
4.
5
9
7		 (
)
8.
9
1
9		 6
1,
1
%
+
(
)
6.
1
4
9		 (
)
5.
9
5
8		 (
)
1
9
0		 3,
2
%
+
(
1
3.
9
5
8
)		 (
1
0.
5
3
7
)		 (
3.
4
2
1
)		 3
2,
5
%
+

Net operating costs referred to the change of the consolidation area: - Euro 2,3 mln

Increase of other net operating costs of 2016 consolidationarea: - Euro 1,1 mln

of which:

  • decrease of cost of personnel: + Euro 0,1 mln;
  • decrease of margin on energy efficiency tasks management: - Euro 1,2 mln;
  • decrease of CCSE contributions for security incentives: Euro 0,7 mln;
  • decrease of advertising costs: + Euro 0,4 mln;
  • other variations: + Euro 0,3 mln.
d
f
Eu
)
us
an
o
ro		 M
3
2
0
1
8		 M
3
2
0
1
7		 C
hg		 C
hg
%
O
he
in
(
A
)
t
t o
t
ts
r n
e
p
er
a
g
co
s
Co
l
i
da
d
i
h
fu
l
l
te
t
mp
an
y
co
ns
o
w
l
i
da
ion
ho
d
t
t
co
ns
o
m
e		 (
)
1
3.
9
5
8		 (
)
1
0.
5
3
7		 (
)
3.
4
2
1		 3
2,
5
%
+
O
he
in
(
B
)
t
t o
t
ts
r n
e
p
er
a
g
co
s
Co
l
i
da
d
i
h n
i
te
t
t e
ty
mp
an
y
co
ns
o
w
e
q
u
l
i
da
ion
ho
d
t
t
(
*)
co
ns
o
m
e		 (
2.
1
8
7
)		 (
2.
1
3
7
)		 (
5
0
)		 2,
4
%
+
O
he
in
(
A+
B
)
t
t o
t
ts
r n
e
p
er
a
g
co
s		 (
1
6.
1
4
6
)		 (
1
2.
6
7
4
)		 (
3.
4
7
1
)		 2
7,
4
%
+

1stQ 2018 CONFERENCE CALLconsolidated results

(*) Sinergie Italiane excluded. Data are considered pro-rata.

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 financial position and cash flow

Disclaimer

Number of employees

(*) Data are considered pro-rata.

1stQ 2018 cost of personnel of the companies consolidated with net equity consolidationmethod (Sinergie Italiane excluded): Euro 0,8 mln (-0,5%).

Financial highlightsOperating dataRevenues and EBITDAGross margin on gas and electricity sales and other net operating costsPersonnel

Capex

Net financial position and cash flow

Disclaimer

1stQ 2018 CONFERENCE CALLconsolidated results Pieve di Soligo, 15th may 2018

1stQ 2018 investments of the companies consolidated with net equity consolidation method(Sinergie Italiane excluded): Euro 0,3 mln (+35,2%).

(*) Excluding network extension in new urbanized areas that according to IAS are considerated as operating costs and not investments;.(**) Investments intangible assets: Euro 0,2 mln; investments in intangible assets: Euro 4,8 mln (excluded realizations of tangible and intangible assets and investments inassociated); (***) AP Reti Gas Vicenza.

1stQ 2018

consolidated results

Pieve di Soligo, 15th may 2018

CONFERENCE CALL

Financial highlightsOperating dataRevenues and EBITDAGross margin on gas and electricity sales and other net operating costsPersonnelCapex

Net financial position and cash flow

Disclaimer

1stQ 2018 CONFERENCE CALLconsolidated results Pieve di Soligo, 15th may 2018

Net financial position and cash flow (1)

Net financial position and cash flow (2)

(*) Sinergie Italiane excluded. Data are considered pro-rata.

(
T
ho
d
f
Eu
)
(
*)
us
an
o
ro		 /
/
3
1
0
3
2
0
1
8		 /
/
3
1
1
2
2
0
1
7		 Va
r		 Va
%
r
Lo
f
ina
ia
l
bo
ing
(
hs
)
1
2
te
t
ng
rm
nc
rro
s
mo
n
w
>
Cu
f
f
i
ion
lon
ina
ia
l
bo
ing
t p
t
te
rre
n
os
o
g
rm
nc
rro
s
w
S
ho
f
ina
ia
l
bo
ing
(
1
2
hs
)
t
te
t
r
rm
nc
rro
w
s
mo
n
<		 5
9.
3
1
0
1
0.
9
2
3
(
1
6.
8
9
8
)		 5
4.
3
6
0
1
0.
1
8
1
4.
6
8
5
5		 4.
9
5
0
7
4
2
(
1.
4
6
6
)
7		 9,
1
%
+
7,
3
%
+
-1
3
1,
0
%
To
l
f
in
ia
l
de
b
ta
t
an
c		 5
5
3.
3
3		 1
1
9.
1
0
9		 (
5.
)
6
7
7
4		 -5
5,
2
%
F
ixe
d
bo
ing
te
ra
rro
w
s
F
loa
ing
bo
ing
t
te
ra
rro
w
s		 3
8.
7
5
0
1
4.
8
5
5		 3
0.
0
0
0
8
9.
1
0
9		 8.
7
5
0
(
4.
2
4
)
7
5		 2
9,
2
%
+
-8
3,
6
%

1stQ 2018 average cost of debt: 0,62% (vs 2017 rate: 0,38%)

(*) Data refers to only companies consolidated with full consolidation method.

Financial highlightsOperating dataRevenues and EBITDAGross margin on gas and electricity activities and other net operating costsPersonnelCapexNet Financial Position and cash flowDisclaimer

    • 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, including the Quarterly Reports and the Annual reports.
    • Statements contained in this presentation, particularly the ones regarding any Ascopiave Group possible or assumed future performance, are or may be forwardlooking statements and in this respect they involve some risks and uncertainties. Anumber of important factors could cause actual results to differ materially from thosecontained in any forward looking statement. Such factors include, but are not limitedto: changes in global economic business, changes in the price of certain commoditiesincluding electricity and gas, the competitive market and regulatory factors. Moreover, forward looking statements are currently only at the date they are made.
    • Any reference to past performance of the Ascopiave Group shall not be taken as an indication of the future performance.
    • This document does not constitute an offer or invitation to purchase or subscribe for any shares and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.
  • -By attending the presentation you agree to be bound by the foregoing terms.

More from Ascopiave

Report Publication Announcement 2025
Dec 11
AGM Information 2025
Dec 11
Investor Presentation 2025
Nov 10
Interim / Quarterly Report 2025
Nov 7
Investor Presentation 2025
Nov 6
Management Reports 2025
Nov 6
Earnings Release 2025
Nov 6
Earnings Release 2025
Nov 6
Report Publication Announcement 2025
Aug 1
Report Publication Announcement 2025
Aug 1
View all filings →

Talk to a Data Expert

Have a question? We'll get back to you promptly.