Investor Presentation • Nov 10, 2015
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Pieve di Soligo, November, 10th 2015
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
| ho d f Eu ) us an o ro |
9 M 2 0 1 5 |
9 M 2 0 1 4 |
C hg |
C hg % |
|---|---|---|---|---|
| Re ve nu es |
4 1 3. 4 1 3 |
4 3 1. 2 3 4 |
( 1 7. 8 2 1 ) |
-4 1 % , |
| ( Co f ra ia ls d c b les ) t o te s w ma r an on su ma |
( ) 2 5 2. 9 7 2 |
( ) 2 6 6. 4 8 5 |
1 3. 5 1 3 |
5, 1 % - |
| ( Co f s ) ice t o s erv s |
( ) 8 3. 2 2 1 |
( ) 7 9. 3 8 7 |
( ) 3. 8 3 4 |
4, 8 % + |
| ( Co f p l ) t o s ers on ne |
( ) 1 6. 0 9 8 |
( ) 1 7. 6 8 0 |
1. 5 8 2 |
8, 9 % - |
| ( O he ing ) t t ts r o p era co s |
( ) 9. 4 1 3 |
( ) 1 0. 9 9 9 |
1. 5 8 6 |
1 4, 4 % - |
| O he ing inc t t r o p era om e |
4 0 5 |
2 1 |
3 8 4 |
1 8 1 2, 3 % + |
| E B I T D A |
5 2. 1 1 3 |
5 6. 7 0 4 |
( ) 4. 5 9 1 |
-8 1 % , |
| ( De ia ion d a iza ion ) t t t p rec s a n mo r s |
( ) 1 4. 7 4 8 |
( ) 1 4. 6 8 1 |
( ) 6 7 |
0, 5 % + |
| ( Pr is ion ) ov s |
( ) 2. 0 1 3 |
( ) 4. 9 4 3 |
2. 9 2 9 |
5 9, 3 % - |
| E B I T |
3 5. 3 5 1 |
3 7. 0 8 0 |
( ) 1. 7 2 9 |
-4 7 % , |
| F ina ia l inc / ( ) nc om e ex p en se s |
( 4 0 8 ) |
( 8 6 9 ) |
4 6 2 |
3, 1 % 5 - |
| f c Ev lua ion ies i h n ho d t t t a ts t ( *) a o om p an w e ss e me |
4. 4 4 2 |
4. 1 0 4 |
3 3 8 |
8, 2 % + |
| E B T |
3 9. 3 8 6 |
4 0. 3 1 5 |
( ) 9 3 0 |
-2 3 % , |
| ( Inc ) tax om e es |
( 1 1. 8 7 7 ) |
( 1 5. 0 8 6 ) |
3. 2 0 9 |
2 1, 3 % - |
| Ea ing f te ta rn s a r xe s |
5 2 7. 0 9 |
5. 2 2 2 9 |
2. 2 7 9 |
9, 0 % + |
| ( ) Ne los fro d isc inu d o ion t t t s m on e p era s |
- | - | - | n.a |
| Ne inc t om e |
2 5 0 9 7. |
2 5. 2 2 9 |
2. 2 9 7 |
9, 0 % + |
| ( f m ) Ne inc ino i ies t t om e o r |
( ) 1. 4 2 7 |
( ) 1. 2 3 5 |
( ) 1 9 2 |
1 5, 5 % + |
| Ne inc f he Gr t t om e o ou p |
2 6. 0 8 1 |
2 3. 9 9 4 |
2. 0 8 7 |
8, % 7 + |
9M 2015 CONFERENCE CALLconsolidated results Pieve di Soligo, November, 10th 2015
(*) Result of the companies consolidated with net equity consolidation method (data are considered pro-quota): sale companies, Euro 2,3 mln (Euro 1,0 mln in9M 2014); distribution companies Euro 0,9 mln (Euro 0,5 mln in 9M 2014); Sinergie Italiane Euro 1,3 mln (Euro 2,6 mln in 9M 2014).
| f ) T ho d Eu us an o ro |
/ / 3 0 0 9 2 0 1 5 |
/ / 3 1 1 2 2 0 1 4 |
C h g |
C h % g |
|---|---|---|---|---|
| T i b l t a n g e a s s e s ( *) |
3 5. 1 8 2 |
3 6. 6 1 4 |
( ) 1. 4 3 2 |
-3 9 % , |
| N i b l t t o n a n g e a s s e s ( *) |
3 9 3. 5 5 2 |
3 9 4. 5 3 0 |
( ) 9 7 8 |
-0 2 % , |
| I i i t t t n v e s m e n s n a s s o c a e s ( **) |
6 2 6 5. 5 |
6 4 3 5. 5 |
( ) 1 9 7 |
-0 3 % , |
| O h f i d t t e r e a s s e s x |
2 7. 0 9 8 |
2 9. 5 5 5 |
( ) 2. 4 5 7 |
-8 3 % , |
| F i d t x e a s s e s |
5 2 1. 0 8 7 |
5 5 2 6. 1 2 |
( 5. 5 ) 0 6 |
-1 0 % , |
| O i t t t p e r a n g c u r r e n a s s e s |
1 3 6. 4 9 4 |
2 2 9. 0 9 5 |
( ) 9 2. 6 0 1 |
-4 0, 4 % |
| ( 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 |
( 1 0 6 2 ) 5. 5 |
( 1 6 2. 4 8 ) 5 |
6. 9 8 6 5 |
-3 1 % 5, |
| ( 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 |
( ) 5 2. 7 2 1 |
( ) 5 3. 3 6 0 |
6 3 8 |
-1 2 % , |
| N k i i l t t e w o r n g c a p a |
( ) 2 1. 7 8 9 |
1 3. 1 8 8 |
( ) 3 4. 9 7 7 |
-2 6 5, 2 % |
| T l i l l d t t o a c a p a e m p o e y |
4 9 9. 2 9 8 |
5 3 9. 3 4 0 |
( 4 0. 0 4 2 ) |
4 % -7 , |
| h h l d i G t r o u p s a r e o e r s e q u y |
3 9 8. 3 2 6 |
5. 5 4 0 3 7 |
( ) 7. 0 3 1 |
-1 7 % , |
| M i i i t n o r e s |
3. 9 6 4 |
4. 3 1 0 |
( 3 4 6 ) |
-8 0 % , |
| N f i i l i i t t e n a n c a p o s o n |
9 0 0 8 7. |
1 2 9. 6 3 7 |
( 3 2. 6 6 5 ) |
-2 5, 2 % |
| T l t o a s o u r c e s |
4 9 9. 2 9 8 |
5 3 9. 3 4 0 |
( ) 4 0. 0 4 2 |
-7 4 % , |
(*) 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 45,2 mln (Euro 45,6 mln at 31/12/2014); distribution companies, Euro 20,0 mln (Euro19,9 mln at 31/12/2014).
Revenues and EBITDA
Gross margin on gas and electricity activities and other operating costs
Personnel
Capex
Net Financial Position and cash flow
Disclaimer
Financial highlights
Operating data
Gross margin on gas and electricity activities and other net operating costs
Personnel
Capex
Net Financial Position and cash flow
Disclaimer
9M 2015 CONFERENCE CALLconsolidated results Pieve di Soligo, November, 10th 2015
11
12
| ho d f Eu ) us an o ro |
9 M 2 0 1 5 |
9 M 2 0 1 4 |
Va r |
Va % r |
|---|---|---|---|---|
| E B I T D A |
5 2. 1 1 3 |
5 6. 7 0 4 |
( 5 ) 4. 9 1 |
-8 1 % , |
| E B I T D A Sa le - |
2 9 6 5. 7 |
3 1. 4 8 6 |
( 1 9 ) 5. 5 |
-1 % 7, 5 |
| E B I T D A D is i bu ion tr t - |
2 6. 1 4 5 |
2 5. 2 1 7 |
9 2 8 |
3, 7 % + |
| E B I T |
3 5. 3 5 1 |
3 0 8 0 7. |
( 1. 2 9 ) 7 |
-4 % 7 , |
| Sa E B I T le - |
2 2. 0 6 1 |
2 4. 6 4 2 |
( 2. 8 1 ) 5 |
-1 0, % 5 |
| E B I T D is i bu ion tr t - |
1 3. 2 9 1 |
1 2. 4 3 8 |
8 3 5 |
6, 9 % + |
(*) Sale companies; (**) Distribution companies.
(*) Sinergie Italiane excluded; (**) Sale companies; (***) Distribution companies.
Financial highlightsOperating dataRevenues and EBITDA
Personnel
Capex
Net Fincancial Position and cash flow
Disclaimer
9M 2015 CONFERENCE CALLconsolidated results Pieve di Soligo, November, 10th 2015
| ) T ho d f Eu ( *) us an o ro |
9 M 2 0 1 5 |
9 M 2 0 1 4 |
C hg |
C hg % |
|---|---|---|---|---|
| Re fro les ve nu es m g as sa |
2 7 6. 7 7 6 |
2 8 5. 9 0 8 |
( ) 9. 1 3 2 |
-3 2 % , |
| ( Ga ha ) ts s p urc se co s |
( ) 1 7 9. 6 4 0 |
( ) 1 8 7. 4 3 0 |
7. 7 9 0 |
-4 2 % , |
| ( D is i bu io ) tr t ts n c os |
( 9 4 4 ) 5 7. |
( 2 1 9 ) 5 5. |
( 2. 2 ) 7 5 |
4, 9 % + |
| G in les ( A ) ro ss m ar g o n g as s a |
||||
| Co l i da d i h fu l l te t m p an co ns o y w l i da io ho d t t co ns o n m e |
3 9. 1 9 1 |
4 3. 2 5 9 |
( 4. 0 6 8 ) |
-9 4 % , |
The decrease of gross margin on gas sales of the companies consolidated with full consolidation method is equal to - Euro 4,1 mln.
| ( T ho d f Eu ) ( *) us an o ro |
M 5 9 2 0 1 |
M 9 2 0 1 4 |
C hg |
C hg % |
|---|---|---|---|---|
| ( ) G in les B ro ss m ar g o n g as s a Co l i da d i h i te t t e ty m p an co ns o ne q y w u l i da io ho d t t co ns o n m e |
8. 9 3 5 |
8. 4 4 1 |
4 9 4 |
5, 9 % + |
| G in les ( A+ B ) ro ss m ar g o n g as s a |
4 8. 1 2 6 |
5 1. 0 0 7 |
( 3. 5 3 ) 7 |
-6 9 % , |
(*) Economic data before elisions.
| ) T ho d f Eu ( *) us an o ro |
M 5 9 2 0 1 |
M 9 2 0 1 4 |
C hg |
C hg % |
|---|---|---|---|---|
| Re fro lec ic i les ty ve nu es m e r sa |
6 9. 6 1 5 |
6 9. 8 4 2 |
( ) 2 2 6 |
-0 3 % , |
| ( E lec ic i ha ) tr ty ts p urc se co s |
( ) 3 8. 3 2 3 |
( ) 3 7. 6 4 1 |
( ) 6 8 2 |
1, 8 % + |
| ( D is i bu io ) tr t ts n c os |
( ) 2 8. 4 9 0 |
( ) 2 6. 8 9 9 |
( ) 1. 5 9 1 |
5, 9 % + |
| in ic i ( ) G lec tr ty les A ro ss m ar g o n e s a |
||||
| Co l i da d i h fu l l te t m p an co ns o y w l i da io ho d t t co ns o n m e |
2. 8 0 2 |
5. 3 0 2 |
( 2. 5 0 0 ) |
-4 7, 1 % |
The decrease of gross margin on electricity sales of the companies consolidated with full consolidation method is equal to - Euro 2,5 mln.
| T ho d f Eu ) ( *) us an o ro |
9 M 2 0 1 5 |
9 M 2 0 1 4 |
C hg |
C hg % |
|---|---|---|---|---|
| G in lec ic i les ( B ) tr ty ro ss m ar g o n e s a Co l i da d i h i te t t e ty m p an y co ns o w ne q u l i da io ho d t t co ns o n m e |
4 5 8 |
4 4 1 |
1 7 |
3, 8 % + |
| ( ) G in lec ic i les A+ B tr ty ro ss m ar g o n e s a |
3. 2 6 0 |
5. 7 4 3 |
( ) 2. 4 8 3 |
-4 3, 2 % |
9M 2015
consolidated results
CONFERENCE CALL
(*) Economic data before elisions.
| T ho d f Eu ) ( *) us an o ro |
9 M 2 0 1 5 |
9 M 2 0 1 4 |
C hg |
C hg % |
|---|---|---|---|---|
| Ta i f fs l ie d les ies to r ap p sa co mp an |
3 6. 6 7 7 |
3 2 0 5. 5 |
1. 2 6 5 |
4, 3 % + |
| Eq l iza ion ( / - ) t t ua a mo un + |
9. 2 6 9 |
1 1. 4 9 2 |
( 2. 2 2 4 ) |
-1 9, 3 % |
| is i io i f f r ( ) Ga d bu A tr t ta s n r ev en ue s |
||||
| Co l i da d i h fu l l te t mp an co ns o y w |
4 6. 0 4 4 |
4 6. 4 2 7 |
( 6 9 8 ) |
-1 5 % , |
| l i da ion ho d t t co ns o m e |
The decrease of gas distribution tariff revenues of the companies consolidated with full consolidation method (- Euro 0,7 mln) is due to:
| ( T ho d f Eu ) ( *) us an o ro |
M 5 9 2 0 1 |
M 9 2 0 1 4 |
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 |
4. 3 5 6 |
4. 2 3 1 |
1 2 5 |
3, 0 % + |
| Ga d is i bu io i f f r ( A+ B ) tr t ta s n r ev en ue s |
5 0. 4 0 0 |
5 0. 9 7 3 |
( 5 ) 7 2 |
-1 1 % , |
| T ho d f Eu ) us an o ro |
9 M 2 0 1 5 |
9 M 2 0 1 4 |
C hg |
C hg % |
|---|---|---|---|---|
| O he t r r ev en ue s |
1 5. 2 6 1 |
1 6. 1 7 3 |
( ) 9 1 2 |
-5 6 % , |
| O f r he ia ls d ice t ts te r c os o aw m a r an se rv s |
( ) 3 5. 0 8 7 |
( ) 3 7. 0 9 1 |
2. 0 0 4 |
-5 4 % , |
| Co f p l t o s er so nn e |
( ) 1 6. 0 9 8 |
( ) 1 7. 6 8 0 |
1. 5 8 2 |
-8 9 % , |
| 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 m p an y co ns o w l i da io ho d t t co ns o n m e |
( 3 5. 9 2 5 ) |
( 3 8. 5 9 9 ) |
2. 6 4 7 |
-6 9 % , |
of which:
21
| ho d f Eu ) us an o ro |
9 M 2 0 1 5 |
9 M 2 0 1 4 |
C hg |
C hg % |
|---|---|---|---|---|
| O he in ( A ) t t o t ts r n e p er a g co s Co fu l i da d i h l l te t m p an y co ns o w l i da io ho d t t co ns o n m e |
( 5. 5 ) 3 9 2 |
( 5 ) 3 8. 9 9 |
2. 6 7 4 |
-6 9 % , |
| in ( ) O t he t o t ts B r n e p er a g co s Co l i da d i h i te t t e ty m p an y co ns o w ne q u l i da io ho d t t ( *) co ns o n m e |
( ) 6. 1 2 8 |
( ) 5. 9 8 6 |
( ) 1 4 2 |
2, 4 % + |
| O he in ( A+ B ) t t o t ts r n e p er a g co s |
( 4 2. 0 5 3 ) |
( 4 4. 5 8 5 ) |
2. 5 3 2 |
-5 7 % , |
CONFERENCE CALL
22
Financial highlights
Operating data
Revenues and EBITDA
Gross margin on gas and electricity activities and other net operating costs
Capex
Net Financial Position and cash flow
Disclaimer
9M 2015 cost of personnel of the companies consolidated with net equity consolidation method (Sinergie Italiane excluded): Euro 2,5 mln (-1,6%).
Financial highlights
Operating data
Revenues and EBITDA
Gross margin on gas and electricity activities and other net operating costsPersonnel
Net Financial Position and cash flow
Disclaimer
9M 2015 CONFERENCE CALLconsolidated results Pieve di Soligo, November, 10th 2015
9M 2015 investments of the companies consolidated with net equity consolidation method(Sinergie Italiane excluded): Euro 0,8 mln (-49,9%).
(*) Excluding network extension in new urbanized areas that according to IAS are considerated as operating costs and not investments. (**) Investments in tangible assets: Euro 0,5 mln; investments in intangible assets: Euro 11,9 mln (excluded realizations of tangible and intangible assets andinvestments in associated).
9M 2015
consolidated results
CONFERENCE CALL
Financial highlightsOperating dataRevenues and EBITDAGross margin on gas and electricity activities and other net operating costsPersonnelCapex
Disclaimer
Net Financial Position and cash flow (1)
Net Financial Position and cash flow (2)
30
| ( T ho d f Eu ) ( *) us an o ro |
3 0 / 0 9 / 2 0 1 5 |
3 1 / 1 2 / 2 0 1 4 |
Va r |
Va % r |
|---|---|---|---|---|
| f ( ) Lo ina ia l bo ing 1 2 hs te t ng rm nc rro w s > mo n Cu i ion f lon f ina ia l bo ing t p t te rre n os o g rm nc rro w s S ho f ina ia l bo ing ( hs ) t te 1 2 t r rm nc rro w s mo n < |
4 6. 8 6 8 9. 6 8 0 4 0. 2 8 7 |
5 3. 4 5 6 9. 4 7 5 7 4. 2 2 4 |
( ) 6. 5 8 8 ( 6 ) 5 ( ) 3 3. 9 3 7 |
-1 2, 3 % -0 % 7 , -4 5, 7 % |
| f in ia To l l de b ta t an c |
9 6. 8 3 5 |
1 3 7. 4 2 5 |
( ) 4 0. 5 9 0 |
-2 9, 5 % |
| F ixe d bo ing te ra rro w s Va ia b le bo ing te r ra rro w s |
5 7 7 9 6. 2 8 5 |
8 0 3 1 3 6. 6 2 2 |
( 2 2 6 ) ( 4 0. 3 6 4 ) |
-2 8, 1 % -2 9, % 5 |
(*) 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
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