ERG reported strong second quarter 2018 results, with adjusted EBITDA of €277 million, up 8% from the second quarter of 2017. Wind generation was impacted by weak wind conditions, while hydro benefited from strong hydrological resources. The company increased its 2018 adjusted EBITDA guidance to a range of €490-500 million and net debt guidance to approximately €1.35 billion, following the acquisition of a wind farm project in the UK. Liability management actions in the first half of 2018 resulted in a €4.5 million reduction in annual net financial costs.
ERG provides a company overview and agenda for their January 2019 document. They discuss their successful industrial transformation from oil to renewables, with over €3.6 billion in oil-linked disposals and €4.3 billion in renewable investments between 2008-2018. Their strategy for 2018-2022 focuses on co-development and greenfield projects abroad, and repowering and reblading in Italy. They provide updates on recent developments including acquisitions boosting their UK wind pipeline to 163MW and greenfield projects securing over 247MW across multiple countries. M&A will also support growth in key geographies.
The document summarizes the key figures and results for ERG's first quarter of 2018. Adjusted EBITDA increased to €162 million compared to €151 million in 1Q 2017. Net profit increased to €56 million from €54 million. Guidance for 2018 was confirmed at €475 million for adjusted EBITDA and increased adjusted net financial position guidance to €1.3 billion. Results were positively impacted by good wind conditions in Italy and abroad as well as sound hydro conditions. The acquisition of Epuron was also announced which increased Capex guidance to €500 million.
2017 ANNUAL RESULTS AND 2018-2022 BUSINESS PLANERG S.p.A.
ERG presented its 2017 annual results and 2018-2022 business plan at an investor day on March 8, 2018. The company achieved strong operating results in 2017, exceeding guidance on key financial metrics such as EBITDA and net financial position. ERG has successfully transformed its business from oil to renewables through acquisitions and divestitures, with its capital now fully rotated to wind, solar, and hydro power generation. The new business plan aims to further grow the company's renewable installed capacity to over 1.7 GW by 2022 through organic growth and M&A.
This document provides a summary of FY 2018 results and a strategy update for Luca Bettonte, CEO. The key highlights are that adjusted EBITDA came in at €491 million, within guidance range, and net financial position was €1,343 million, consistent with revised guidance. Guidance for 2019 projects adjusted EBITDA of €495-€515 million, capex of €340-€370 million, and net financial position of €1,360-€1,440 billion. The presentation also provides an update to ERG's 2018-2022 business plan, outlining progress on greenfield development, repowering, and capacity growth targets.
Analyst presentation: business plan to 2020Hera Group
Gruppo Hera provides an investment proposition focused on reliable growth in its core multi-utility business sectors of networks, waste, and energy. It has demonstrated an uninterrupted track record of growth since being established in 2002 through organic growth and acquisitions. The company aims to continue this growth trajectory with its 2020 business plan targeting over 200 million euro in additional EBITDA through organic initiatives and M&A activity focused on its core regions in Northern and Central Italy. Hera maintains a low risk profile through a balanced portfolio across regulated and liberalized sectors.
This document provides an agenda and background information for the Italian Sustainability Day 2018 conference in Milan on July 2, 2018. It summarizes ERG's transformation from an oil company into a renewable energy company, with an installed capacity that will grow from 2.8GW in 2017 to around 3.6GW by 2022 through greenfield development, repowering, and M&A. It also outlines ERG's strategic focus on sustainability, with goals such as increasing annual green energy production to around 10TWh and reducing CO2 emissions by 15 million tons by 2022.
Luca Bettonte, CEO of ERG, presented the company's full year 2019 results. Key highlights included adjusted EBITDA of €504 million, adjusted net profit of €104 million, and adjusted net financial position of €1,476 million. Business growth continued with further onshore wind and solar capacity additions. Despite challenging conditions in core markets, ERG executed on its business plan and remained on track to achieve its 2022 targets. Guidance for 2020 forecasts higher adjusted EBITDA and lower capex versus 2019.
Hera Group reported positive financial results for the first 9 months of 2016. Key highlights include:
- Turnover decreased 3.1% to €3,364.8 million due to lower energy prices and regulatory changes.
- EBITDA increased 1.6% to €650.6 million due to organic growth and M&A contributions offsetting regulatory impacts.
- Net profit increased 13.8% to €142.3 million driven by lower financial expenses, an improved tax rate, and minority stake increases.
- Cash flow generation increased to €243 million, strengthening the financial position.
ERG provides a company overview and agenda for their January 2019 document. They discuss their successful industrial transformation from oil to renewables, with over €3.6 billion in oil-linked disposals and €4.3 billion in renewable investments between 2008-2018. Their strategy for 2018-2022 focuses on co-development and greenfield projects abroad, and repowering and reblading in Italy. They provide updates on recent developments including acquisitions boosting their UK wind pipeline to 163MW and greenfield projects securing over 247MW across multiple countries. M&A will also support growth in key geographies.
The document summarizes the key figures and results for ERG's first quarter of 2018. Adjusted EBITDA increased to €162 million compared to €151 million in 1Q 2017. Net profit increased to €56 million from €54 million. Guidance for 2018 was confirmed at €475 million for adjusted EBITDA and increased adjusted net financial position guidance to €1.3 billion. Results were positively impacted by good wind conditions in Italy and abroad as well as sound hydro conditions. The acquisition of Epuron was also announced which increased Capex guidance to €500 million.
2017 ANNUAL RESULTS AND 2018-2022 BUSINESS PLANERG S.p.A.
ERG presented its 2017 annual results and 2018-2022 business plan at an investor day on March 8, 2018. The company achieved strong operating results in 2017, exceeding guidance on key financial metrics such as EBITDA and net financial position. ERG has successfully transformed its business from oil to renewables through acquisitions and divestitures, with its capital now fully rotated to wind, solar, and hydro power generation. The new business plan aims to further grow the company's renewable installed capacity to over 1.7 GW by 2022 through organic growth and M&A.
This document provides a summary of FY 2018 results and a strategy update for Luca Bettonte, CEO. The key highlights are that adjusted EBITDA came in at €491 million, within guidance range, and net financial position was €1,343 million, consistent with revised guidance. Guidance for 2019 projects adjusted EBITDA of €495-€515 million, capex of €340-€370 million, and net financial position of €1,360-€1,440 billion. The presentation also provides an update to ERG's 2018-2022 business plan, outlining progress on greenfield development, repowering, and capacity growth targets.
Analyst presentation: business plan to 2020Hera Group
Gruppo Hera provides an investment proposition focused on reliable growth in its core multi-utility business sectors of networks, waste, and energy. It has demonstrated an uninterrupted track record of growth since being established in 2002 through organic growth and acquisitions. The company aims to continue this growth trajectory with its 2020 business plan targeting over 200 million euro in additional EBITDA through organic initiatives and M&A activity focused on its core regions in Northern and Central Italy. Hera maintains a low risk profile through a balanced portfolio across regulated and liberalized sectors.
This document provides an agenda and background information for the Italian Sustainability Day 2018 conference in Milan on July 2, 2018. It summarizes ERG's transformation from an oil company into a renewable energy company, with an installed capacity that will grow from 2.8GW in 2017 to around 3.6GW by 2022 through greenfield development, repowering, and M&A. It also outlines ERG's strategic focus on sustainability, with goals such as increasing annual green energy production to around 10TWh and reducing CO2 emissions by 15 million tons by 2022.
Luca Bettonte, CEO of ERG, presented the company's full year 2019 results. Key highlights included adjusted EBITDA of €504 million, adjusted net profit of €104 million, and adjusted net financial position of €1,476 million. Business growth continued with further onshore wind and solar capacity additions. Despite challenging conditions in core markets, ERG executed on its business plan and remained on track to achieve its 2022 targets. Guidance for 2020 forecasts higher adjusted EBITDA and lower capex versus 2019.
Hera Group reported positive financial results for the first 9 months of 2016. Key highlights include:
- Turnover decreased 3.1% to €3,364.8 million due to lower energy prices and regulatory changes.
- EBITDA increased 1.6% to €650.6 million due to organic growth and M&A contributions offsetting regulatory impacts.
- Net profit increased 13.8% to €142.3 million driven by lower financial expenses, an improved tax rate, and minority stake increases.
- Cash flow generation increased to €243 million, strengthening the financial position.
- ERG reported strong second quarter 2015 results, with adjusted EBITDA of €86 million, up 15% compared to the second quarter of 2014.
- In August, ERG acquired E.ON's Italian hydro business for €0.95 billion, adding 527MW of hydro capacity. The acquisition improves the complementarity of ERG's generation portfolio.
- ERG also acquired 6 wind farms in France for €72 million, doubling its capacity in the country to 127MW. For 2015, ERG increased its EBITDA guidance to €230 million and net debt guidance to €600 million to reflect these acquisitions.
H1 2016 financial results were positive overall. Revenues decreased 2.3% due to regulatory changes and market factors, while EBITDA increased 2.4% and net profit increased 12.8%. Cash flow generation was enhanced, covering dividends and acquisitions while reducing debt. Growth was achieved despite regulatory headwinds through M&A integration and operating efficiencies across business segments.
Gruppo Hera reported a 0.4% increase in EBITDA and a 5.3% increase in net profit for Q1 2016 despite a 5.4% decrease in revenues. Organic growth and cost efficiency measures offset 75% of the impact of lower regulated returns. Increased volumes in special waste and expansion in energy markets contributed to growth, while revenues were affected by lower energy sales and network tariffs. Strong cash flow and working capital management helped reduce net debt.
- Hera Group reported another year of sound growth in 2015, with revenues increasing 6.7% to €4.8 billion and net profit rising 15.4% to €188.7 million.
- EBITDA grew 1.9% to €884.4 million, driven by organic growth, synergies from acquisitions, and contributions from recent M&A activity.
- The results demonstrate the reliability of Hera's growth model, with consistent increases in key financial figures over the past 5 years.
Analyst presentation: business plan to 2019Hera Group
This document provides a business plan and strategy for Hera Business from 2019. It outlines goals of continued growth through consolidation, operational excellence, and leveraging innovation. The plan expects growth of 118 million euros from internal factors like efficiencies and organizational growth, and 126 million euros from external factors like mergers and acquisitions. It analyzes the company's strengths and potential for external growth opportunities in its key business areas of networks, waste, and energy. Financial projections show expected growth in earnings, returns, and cash flows while maintaining a balanced business mix and low sensitivity to market factors. The capital expenditure plan is presented to fully fund the outlined expansion.
Hera Group reported positive financial results for the first half of 2015, with revenues increasing 6.4%, EBITDA up 2.5%, and net profit growing 11.4% compared to the same period last year. All business segments returned to revenue growth in the second quarter. Cash flow was also positive, covering dividend payments and partially funding acquisitions. The presentation provided details on financial and operating metrics for the first half by business segment.
This document provides a summary of ERG's 2015-2018 business plan, which focuses on expanding and diversifying the company's renewable energy portfolio. Key points include:
- ERG recently invested €950 million to acquire 527MW of hydroelectric capacity and €500 million to add 370MW of wind farms.
- The plan aims to further increase installed wind capacity to over 1,700MW by 2018 through 200MW of new organic growth projects internationally.
- Other strategic priorities include consolidating newly acquired hydro and wind assets, pursuing operational efficiencies, and developing an energy management business to control portfolio risks.
The document provides an analyst presentation on the financial results of Hera Group for 2014. Key highlights include:
- Revenues decreased 4.5% to €4.51 billion due to lower gas sales from mild winter weather, while EBITDA grew 7.1% to €868 million driven by market expansion, efficiency gains, and lower trading activities.
- Net profit increased 27.3% to €163.6 million through business growth, financial management, and lower taxes. Cash generation was positive after dividends despite acquisitions.
- The presentation reviews financial results and growth drivers for each business division including networks, waste, energy, and provides an outlook on further sector consolidation in Italy.
Hera Group-Consolidate quarterly report as at 30 september 2016Hera Group
The Hera Group reported consolidated quarterly results as of September 30, 2016. Revenues decreased 4.4% to €3.1 billion, while EBITDA increased 1.6% to €650.6 million due to cost efficiencies. Net profit grew 12.5% to €151.8 million. Net investments totaled €241.2 million, up 9.3% compared to the prior year. The Group continues its focus on sustainable growth and operational excellence across its utility businesses.
Q1 financial results were positive, with revenues growing 7.1% to €1,383.3 million. EBITDA increased 1.1% to €277.2 million, driven by organic growth and M&A activity. Net profit rose 4.1% to €86.6 million. The results demonstrated the resilience of Hera's balanced portfolio mix, with recovery in gas sales volumes and expansion in the electricity business offsetting impacts from planned plant maintenance. Cash flow generation reduced net debt and strengthened the company's strong financial position.
Hera achieved double digit growth rates in the first half of 2008, with a 22.2% increase in EBITDA. Growth was driven by internal factors such as tariff increases in the water and waste businesses, successful energy trading, and contributions from recent mergers and acquisitions. New plants in electricity generation and waste-to-energy also contributed positively to results. Despite high capital expenditures related to ongoing development projects, Hera generated positive free cash flows in the first half.
Tereos Internacional reported its second quarter 2010/11 results. Key highlights include:
- Revenue grew 12.5% to R$1.5 billion driven by acquisitions in Brazil and higher sugar production.
- Adjusted EBITDA increased 44.3% to R$286 million due to strong performance in Brazil and integration of recent acquisitions.
- In Brazil, sugarcane crushing reached a record 8.8 million tons and sugar production increased 82.8% due to integration of recent acquisitions and increased capacity.
- Syral in Europe maintained stable revenues and volumes despite closing one plant, though margins declined due to higher costs.
The document provides 9M 2015 financial results for Gruppo Hera. Key highlights include:
- Revenues increased 8.1% to €3.47 billion driven by favorable weather and increased gas trading.
- EBITDA grew 2.2% to €640.2 million from internal growth and synergies from acquisitions.
- Net profit increased 12.3% to €125 million due to lower financial expenses and taxes.
- Cash flows exceeded capex and dividends, and debt remained stable at €2.64 billion.
Enel presented its 2013 results and 2014-2018 strategic plan. Key points include:
- 2013 EBITDA of €15.8 billion, up 7.6% from 2012, driven by growth in Latin America and Enel Green Power.
- Net debt was reduced to €39.9 billion as of December 31, 2013, below the targeted €42 billion.
- The 2014-2018 plan focuses on growing in emerging markets, renewables, distribution and retail, leveraging existing platforms.
- Regulatory trends, technology innovation and customer focus will reshape the energy industry, with emerging markets and downstream activities becoming more important drivers of value.
The Hera Group Board of Directors approved the consolidated results for the first half of 2016, which showed rising profits, positive cash flows, and reduced borrowing. Key highlights included a 2.4% increase in EBITDA to €470.1 million and a 12.8% rise in net profits for shareholders to €121 million, driven by growth in electricity and waste businesses as well as acquisitions and cost efficiencies. The financial position also improved, with net debt decreasing from €2,651.7 million to €2,624.4 million.
This document is Hera Group's business plan from 2014 to 2018. It outlines Hera's strategy to grow its EBITDA above 1 billion Euros through organic growth and mergers and acquisitions (M&A). The plan focuses on four strategic priorities: excellence, growth, innovation, and efficiency. Hera aims to lead industry consolidation in Italy and expand in waste, energy, and liberalized markets. The business plan forecasts EBITDA growth across Hera's key business areas of networks, waste, and energy through various organic growth initiatives and M&A targets. Hera's capex plan of 2.1 billion Euros over the period is expected to support this growth while enhancing returns.
Hera Group 1H Results - Analyst presentationHera Group
Hera Group reported strong financial results for the first half of 2014, with EBITDA growth of 4.4% to €451.9 million compared to the prior year period. Solid commercial expansion in waste and electricity volumes, along with positive performance in regulated network activities, drove organic growth and offset the mild winter impact. Active debt management lowered borrowing costs, contributing to an 8.7% increase in net profit to €98.3 million. Hera is progressing well towards its business plan targets and expects to substantially offset the remaining mild winter effect by year-end.
Analyst presentation: First quarter 2013 resultsHera Group
Hera Group reported strong growth in key financial figures in Q1 2013 driven by the consolidation of Acegas Aps and organic growth. EBITDA increased 25.3% to €282 million compared to Q1 2012. All business areas saw positive growth, with waste and renewable energy performing well. Net debt was reduced by €74.5 million despite capital expenditures and seasonal working capital needs. Management expects the positive trends to continue in liberalized activities in the remainder of the year.
This document provides a summary of a company press meeting that took place on October 20, 2018 in Genoa. It discusses the company's successful industrial transformation from oil to renewables through strategic divestments and investments. The agenda covers the company's 2018-2022 business plan, recent developments in its business model, focus on technical expertise, the ongoing energy transition, financial targets, and mid-year 2018 results.
2Q 2019 Results
- Adjusted EBITDA was €110 million, down slightly from €114 million in 2Q 2018.
- Greenfield development pipeline remains on track at approximately 350MW.
- Repowering and reblading projects are progressing with additional capacity in the authorization and engineering phases.
- 2019 guidance was fine-tuned with an Adjusted EBITDA range of €495-505 million and Adjusted NFP revised to €1.39-1.47 billion.
- ERG reported good third quarter 2018 results thanks to its diversified generation mix. Adjusted EBITDA was €381 million for 3Q 2018 and €356 million for 3Q 2017.
- Electricity production was in line with the previous year despite weaker wind conditions in some markets. Hydro and CCGT benefited from good availability and margins.
- Net financial position was €1,389 million as of September 30, 2018, including a vendor loan of €37 million. The company expects full year net financial position of approximately €1,350 million.
- Guidance for 2018 adjusted EBITDA and capital expenditures were confirmed at €490-500 million and €520-540 million, respectively.
- ERG reported strong second quarter 2015 results, with adjusted EBITDA of €86 million, up 15% compared to the second quarter of 2014.
- In August, ERG acquired E.ON's Italian hydro business for €0.95 billion, adding 527MW of hydro capacity. The acquisition improves the complementarity of ERG's generation portfolio.
- ERG also acquired 6 wind farms in France for €72 million, doubling its capacity in the country to 127MW. For 2015, ERG increased its EBITDA guidance to €230 million and net debt guidance to €600 million to reflect these acquisitions.
H1 2016 financial results were positive overall. Revenues decreased 2.3% due to regulatory changes and market factors, while EBITDA increased 2.4% and net profit increased 12.8%. Cash flow generation was enhanced, covering dividends and acquisitions while reducing debt. Growth was achieved despite regulatory headwinds through M&A integration and operating efficiencies across business segments.
Gruppo Hera reported a 0.4% increase in EBITDA and a 5.3% increase in net profit for Q1 2016 despite a 5.4% decrease in revenues. Organic growth and cost efficiency measures offset 75% of the impact of lower regulated returns. Increased volumes in special waste and expansion in energy markets contributed to growth, while revenues were affected by lower energy sales and network tariffs. Strong cash flow and working capital management helped reduce net debt.
- Hera Group reported another year of sound growth in 2015, with revenues increasing 6.7% to €4.8 billion and net profit rising 15.4% to €188.7 million.
- EBITDA grew 1.9% to €884.4 million, driven by organic growth, synergies from acquisitions, and contributions from recent M&A activity.
- The results demonstrate the reliability of Hera's growth model, with consistent increases in key financial figures over the past 5 years.
Analyst presentation: business plan to 2019Hera Group
This document provides a business plan and strategy for Hera Business from 2019. It outlines goals of continued growth through consolidation, operational excellence, and leveraging innovation. The plan expects growth of 118 million euros from internal factors like efficiencies and organizational growth, and 126 million euros from external factors like mergers and acquisitions. It analyzes the company's strengths and potential for external growth opportunities in its key business areas of networks, waste, and energy. Financial projections show expected growth in earnings, returns, and cash flows while maintaining a balanced business mix and low sensitivity to market factors. The capital expenditure plan is presented to fully fund the outlined expansion.
Hera Group reported positive financial results for the first half of 2015, with revenues increasing 6.4%, EBITDA up 2.5%, and net profit growing 11.4% compared to the same period last year. All business segments returned to revenue growth in the second quarter. Cash flow was also positive, covering dividend payments and partially funding acquisitions. The presentation provided details on financial and operating metrics for the first half by business segment.
This document provides a summary of ERG's 2015-2018 business plan, which focuses on expanding and diversifying the company's renewable energy portfolio. Key points include:
- ERG recently invested €950 million to acquire 527MW of hydroelectric capacity and €500 million to add 370MW of wind farms.
- The plan aims to further increase installed wind capacity to over 1,700MW by 2018 through 200MW of new organic growth projects internationally.
- Other strategic priorities include consolidating newly acquired hydro and wind assets, pursuing operational efficiencies, and developing an energy management business to control portfolio risks.
The document provides an analyst presentation on the financial results of Hera Group for 2014. Key highlights include:
- Revenues decreased 4.5% to €4.51 billion due to lower gas sales from mild winter weather, while EBITDA grew 7.1% to €868 million driven by market expansion, efficiency gains, and lower trading activities.
- Net profit increased 27.3% to €163.6 million through business growth, financial management, and lower taxes. Cash generation was positive after dividends despite acquisitions.
- The presentation reviews financial results and growth drivers for each business division including networks, waste, energy, and provides an outlook on further sector consolidation in Italy.
Hera Group-Consolidate quarterly report as at 30 september 2016Hera Group
The Hera Group reported consolidated quarterly results as of September 30, 2016. Revenues decreased 4.4% to €3.1 billion, while EBITDA increased 1.6% to €650.6 million due to cost efficiencies. Net profit grew 12.5% to €151.8 million. Net investments totaled €241.2 million, up 9.3% compared to the prior year. The Group continues its focus on sustainable growth and operational excellence across its utility businesses.
Q1 financial results were positive, with revenues growing 7.1% to €1,383.3 million. EBITDA increased 1.1% to €277.2 million, driven by organic growth and M&A activity. Net profit rose 4.1% to €86.6 million. The results demonstrated the resilience of Hera's balanced portfolio mix, with recovery in gas sales volumes and expansion in the electricity business offsetting impacts from planned plant maintenance. Cash flow generation reduced net debt and strengthened the company's strong financial position.
Hera achieved double digit growth rates in the first half of 2008, with a 22.2% increase in EBITDA. Growth was driven by internal factors such as tariff increases in the water and waste businesses, successful energy trading, and contributions from recent mergers and acquisitions. New plants in electricity generation and waste-to-energy also contributed positively to results. Despite high capital expenditures related to ongoing development projects, Hera generated positive free cash flows in the first half.
Tereos Internacional reported its second quarter 2010/11 results. Key highlights include:
- Revenue grew 12.5% to R$1.5 billion driven by acquisitions in Brazil and higher sugar production.
- Adjusted EBITDA increased 44.3% to R$286 million due to strong performance in Brazil and integration of recent acquisitions.
- In Brazil, sugarcane crushing reached a record 8.8 million tons and sugar production increased 82.8% due to integration of recent acquisitions and increased capacity.
- Syral in Europe maintained stable revenues and volumes despite closing one plant, though margins declined due to higher costs.
The document provides 9M 2015 financial results for Gruppo Hera. Key highlights include:
- Revenues increased 8.1% to €3.47 billion driven by favorable weather and increased gas trading.
- EBITDA grew 2.2% to €640.2 million from internal growth and synergies from acquisitions.
- Net profit increased 12.3% to €125 million due to lower financial expenses and taxes.
- Cash flows exceeded capex and dividends, and debt remained stable at €2.64 billion.
Enel presented its 2013 results and 2014-2018 strategic plan. Key points include:
- 2013 EBITDA of €15.8 billion, up 7.6% from 2012, driven by growth in Latin America and Enel Green Power.
- Net debt was reduced to €39.9 billion as of December 31, 2013, below the targeted €42 billion.
- The 2014-2018 plan focuses on growing in emerging markets, renewables, distribution and retail, leveraging existing platforms.
- Regulatory trends, technology innovation and customer focus will reshape the energy industry, with emerging markets and downstream activities becoming more important drivers of value.
The Hera Group Board of Directors approved the consolidated results for the first half of 2016, which showed rising profits, positive cash flows, and reduced borrowing. Key highlights included a 2.4% increase in EBITDA to €470.1 million and a 12.8% rise in net profits for shareholders to €121 million, driven by growth in electricity and waste businesses as well as acquisitions and cost efficiencies. The financial position also improved, with net debt decreasing from €2,651.7 million to €2,624.4 million.
This document is Hera Group's business plan from 2014 to 2018. It outlines Hera's strategy to grow its EBITDA above 1 billion Euros through organic growth and mergers and acquisitions (M&A). The plan focuses on four strategic priorities: excellence, growth, innovation, and efficiency. Hera aims to lead industry consolidation in Italy and expand in waste, energy, and liberalized markets. The business plan forecasts EBITDA growth across Hera's key business areas of networks, waste, and energy through various organic growth initiatives and M&A targets. Hera's capex plan of 2.1 billion Euros over the period is expected to support this growth while enhancing returns.
Hera Group 1H Results - Analyst presentationHera Group
Hera Group reported strong financial results for the first half of 2014, with EBITDA growth of 4.4% to €451.9 million compared to the prior year period. Solid commercial expansion in waste and electricity volumes, along with positive performance in regulated network activities, drove organic growth and offset the mild winter impact. Active debt management lowered borrowing costs, contributing to an 8.7% increase in net profit to €98.3 million. Hera is progressing well towards its business plan targets and expects to substantially offset the remaining mild winter effect by year-end.
Analyst presentation: First quarter 2013 resultsHera Group
Hera Group reported strong growth in key financial figures in Q1 2013 driven by the consolidation of Acegas Aps and organic growth. EBITDA increased 25.3% to €282 million compared to Q1 2012. All business areas saw positive growth, with waste and renewable energy performing well. Net debt was reduced by €74.5 million despite capital expenditures and seasonal working capital needs. Management expects the positive trends to continue in liberalized activities in the remainder of the year.
This document provides a summary of a company press meeting that took place on October 20, 2018 in Genoa. It discusses the company's successful industrial transformation from oil to renewables through strategic divestments and investments. The agenda covers the company's 2018-2022 business plan, recent developments in its business model, focus on technical expertise, the ongoing energy transition, financial targets, and mid-year 2018 results.
2Q 2019 Results
- Adjusted EBITDA was €110 million, down slightly from €114 million in 2Q 2018.
- Greenfield development pipeline remains on track at approximately 350MW.
- Repowering and reblading projects are progressing with additional capacity in the authorization and engineering phases.
- 2019 guidance was fine-tuned with an Adjusted EBITDA range of €495-505 million and Adjusted NFP revised to €1.39-1.47 billion.
- ERG reported good third quarter 2018 results thanks to its diversified generation mix. Adjusted EBITDA was €381 million for 3Q 2018 and €356 million for 3Q 2017.
- Electricity production was in line with the previous year despite weaker wind conditions in some markets. Hydro and CCGT benefited from good availability and margins.
- Net financial position was €1,389 million as of September 30, 2018, including a vendor loan of €37 million. The company expects full year net financial position of approximately €1,350 million.
- Guidance for 2018 adjusted EBITDA and capital expenditures were confirmed at €490-500 million and €520-540 million, respectively.
This document summarizes the annual consolidated results for 2023 of an energy infrastructure company. Key highlights include EBITDA of €2.4 billion, a 8% increase over 2022. Net income adjusted was €1.17 billion, in line with guidance. Total investments reached €2.2 billion, a 14% increase driven by projects like the Adriatic Line. The company also improved its sustainability performance, reducing emissions and receiving higher ESG ratings. Guidance for 2024 forecasts further investments and RAB growth while maintaining financial flexibility and shareholders returns.
ERG @ Digital Sustainability Week (July 2020)ERG S.p.A.
This document provides an agenda for Digital Sustainability Week from June 29th to July 3rd 2020. It discusses ERG's successful industrial transformation from oil refining to renewable energy production over several decades. ERG has installed over 3 GW of wind, solar, hydro, and natural gas capacity across Europe and reduced its carbon intensity by 90% since entering renewables. The company's 2018-2022 business plan and ESG strategy focus on continued renewable capacity growth, reducing carbon emissions, and supporting local communities.
ERG - italian investment conference 24-05-17ERG S.p.A.
This document contains certain forward-looking information that is subject
to a number of factors that may influence the accuracy of the statements
and the projections upon which the statements are based.
There can be non assurance that the projections or forecasts will ultimately
prove to be accurate; accordingly, the Company makes no representation or
warranty as to the accuracy of such information or the likelihood that the
Company will perform as projected.
The document provides financial results for the first 9 months of 2023. Key points include:
- Adjusted EBITDA of €1,862 million, up 9.1% year-over-year.
- Adjusted net income of €942 million, up 1.1% year-over-year.
- Net debt of €14,336 million, higher than 2022 level due to investments including the SeaCorridor acquisition.
- Guidance for full-year 2023 is confirmed.
In the 1Q 2019 results document:
- ERG reported adjusted EBITDA of €164 million, up slightly from €162 million in 1Q 2018.
- Net debt increased to €1.514 billion from €1.343 billion at the end of 2018, due to investments and acquisitions totaling €233 million in the quarter.
- Guidance for 2019 was confirmed, with expected adjusted EBITDA of €495-515 million and net debt of €1.36-1.44 billion.
1) The company reported a 5.7% increase in adjusted EBITDA to €1.221 billion for 1H 2023, despite a 16.4% decline in Italian gas demand, driven by mild weather and weak industrial activity.
2) Net profit declined slightly by 3.9% to €621 million due to lower contributions from international associates, partly offset by growth in regulated businesses.
3) The company reaffirmed its full-year 2023 guidance and made solid progress on its strategic plan, including storage filling levels of around 87% ahead of the 2023/2024 winter.
1. ERG reported results for 1Q 2020, with adjusted EBITDA of €156 million, down slightly from €164 million in 1Q 2019 due to weaker wind conditions in Italy and a tough price environment exacerbated by Covid-19.
2. In response to Covid-19, ERG implemented remote working for over 70% of employees and safety measures at production sites while continuing operations as an essential service. ERG also allocated €2 million to local healthcare systems.
3. Guidance for 2020 was revised downward with adjusted EBITDA expected between €480-500 million compared to the original €500-520 million range, and CAPEX lowered to €150-180 million from €
- CPFL reported a 15.9% increase in EBITDA and 74.2% increase in net income for 2018 compared to 2017. Key drivers included tariff adjustments, lower debt costs, and compensation agreements.
- Energy sales grew 1.2% in 4Q18 and 2.5% for 2018, led by increases in the residential and industrial classes.
- CPFL Renováveis anticipated the commercial start-up of the Boa Vista II SHPP in November 2018 and won projects in the A-6 auction.
The document reports on Snam's 2020 interim results. Key points include:
- Gas demand in Italy fell 7% in Q1 and 18% in Q2 due to the impacts of weather and lockdown measures. Industrial sector demand is recovering.
- Snam invested €457 million in capital expenditures in H1 2020 and maintained its dividend policy.
- H1 2020 EBITDA was up 8.4% to €12.9 billion compared to H1 2019, while net profit was stable at €1.1 billion.
- Snam continues investing in energy transition opportunities including hydrogen and energy efficiency.
H1 2020 financial results showed solid resilience during the COVID-19 lockdown period. EBITDA increased 2.5% to €559.7 million driven by organic growth and M&A activity, despite negatives from warm winter weather and COVID-19 impacts. Good cash generation reduced net debt to EBITDA ratio to 2.35x. All business lines showed growth with the energy business performing well on EstEnergy integration and increasing customer base.
This document contains certain forward-looking information that is subject
to a number of factors that may influence the accuracy of the statements
and the projections upon which the statements are based.
There can be non assurance that the projections or forecasts will ultimately
prove to be accurate; accordingly, the Company makes no representation or
warranty as to the accuracy of such information or the likelihood that the
Company will perform as projected.
Third quarter 2016 results document highlights:
1) ERG reported strong third quarter 2016 results with adjusted EBITDA of €78 million, up from €66 million in third quarter 2015.
2) ERG reorganized into a leaner structure with the merger of subsidiaries to create a single generation company.
3) Guidance for 2016 was confirmed with adjusted EBITDA of €380 million and adjusted net debt of €1.65 billion.
Terna 2017>2021 Enabling Energy TransitionTerna SpA
Terna presented its investment plan to enable Italy's energy transition over the period 2017-2021. Key points include:
- Total capex of €4 billion to support renewable energy integration and grid reinforcements, 30% higher than the previous plan.
- RAB expected to grow 2% annually to €15.6 billion by 2021 to accommodate new investments.
- Revenue guidance of €2.25 billion for 2017, up 7% over 2016. EBITDA guidance of €1.58 billion for 2017, up 3% over 2016.
- EPS CAGR target of 3% through 2021 with increased visibility from the regulatory framework.
- Continued focus on the regulated business while selectively
The document provides an overview of Hera Group's 2018 financial results and achievements. Some key highlights include:
- EBITDA grew 4.7% to €1.031 billion due to organic growth across all core businesses.
- Net profit increased 12.1% to €282 million while net debt to EBITDA ratio improved.
- A dividend of €0.10 per share was proposed, up 5.3% from the prior year.
- Organic growth was driven by efficiency initiatives, development capex, and positive waste price trends. Market expansion also supported energy business results.
- The balanced business portfolio and focus on regulated activities underpinned stable performance and value
This document contains certain forward-looking information that is subject to a number of factors that may influence the accuracy of the statements and the projections upon which the statements are based.
There can be non assurance that the projections or forecasts will ultimately prove to be accurate; accordingly, the Company makes no representation or warranty as to the accuracy of such information or the likelihood that the Company will perform as projected.
This document provides an overview of an Italian infrastructure company. It discusses the company's history dating back to 1938 and its transformation from oil refining to renewable energy production. The company has invested over €4.7 billion in wind, solar, hydroelectric, and natural gas assets. It is now a leading renewable independent power producer in Europe with over 3 gigawatts of installed capacity across 7 countries. The document also reviews the company's recent financial results, 2019 guidance, and strategic plans to further increase renewable energy capacity through 2023.
Snam reported a 5.2% increase in EBITDA for 1Q 2022 compared to 1Q 2021, offsetting the impact of a WACC reduction. Net profit was up 3.8% year-over-year due to strong performance from associates. Revenues increased 16.9% to €838 million driven by regulated transport and new business revenues. Operating expenses rose 58.2% primarily due to costs associated with new business. Net financial debt declined 10% to €12.6 billion impacted by temporary positive working capital effects.
Luca Bettonte, CEO, presented the company's 2Q 2020 results. Key highlights included adjusted EBITDA of €263 million for 1H 2020, in line with guidance despite challenging market conditions from COVID-19. Total investments were €86 million for the period. Project pipelines remained on track with 280MW under construction/ready-to-build projects. Guidance for 2020 was confirmed with adjusted EBITDA of €480-500 million and net debt of €1.35-1.43 billion.
2nd Mediobanca Italian Infrastructure ConferenceERG S.p.A.
This document provides an overview of ERG S.p.A., an Italian renewable energy company, and summarizes their presentation at the 2nd Mediobanca Italian Infrastructure Conference on December 4-5, 2019 in Sydney. The presentation discusses ERG's industrial transformation from oil refining to renewable energy production over the past two decades. It highlights their diversified portfolio of wind, solar, hydro, and natural gas power generation assets across Europe totaling over 3 GW of installed capacity. The presentation also summarizes ERG's 2018-2022 strategy of sustainable growth through M&A transactions, greenfield development, and repowering projects. Financial projections show targets for adjusted EBITDA of €490-505 million and net
UniCredit European Energy & Utilities Credit Conference 2019ERG S.p.A.
ERG presented its operating segments at the UniCredit European Energy & Utilities Credit Conference in London on November 20th, 2019. ERG has a well-positioned European wind portfolio with 1,929 MW of installed capacity, making it the largest wind operator in Italy. Its 527 MW of hydroelectric assets position it among the top players in Italy for hydro. ERG's solar portfolio has grown to 141 MW of installed capacity. The company's 480 MW CCGT plant in Sicily provides strong cash flow visibility.
- 3Q 2019 adjusted EBITDA was €107 million, slightly higher than the €105 million in 3Q 2018.
- Wind, hydro, and CCGT saw higher adjusted EBITDA compared to last year while solar was lower.
- Total investments in 9M 2019 were €401 million, primarily driven by M&A activity including the Barkow acquisition.
- Guidance for full-year 2019 adjusted EBITDA was confirmed at €495-505 million while net debt and CAPEX guidance ranges were revised.
The document provides an agenda for the Italian Sustainability Day 2019 event held by ERG in Milan on July 2, 2019. It discusses ERG's successful industrial transformation from oil refining to renewable energy production over several decades. ERG's 2018-2022 business plan focuses on continued growth in renewable installed capacity, repowering of existing wind farms, and sustainability targets around reducing carbon emissions and enhancing human capital.
This document provides a company profile for a renewable energy company. It details the company's current installed renewable energy capacity, including 2,500MW of wind, 150MW of solar, 527MW of water, and 480MW of natural gas. The company's annual production is projected to be around 10TWh by 2022, with a total energy portfolio of around 15TWh including hedging and other sales. The profile also provides a brief history of the company and encourages following the company on social media.
This document contains certain forward-looking information that is subject to a number of factors that may influence the accuracy of the statements and the projections upon which the statements are based. There can be non assurance that the projections or forecasts will ultimately
prove to be accurate; accordingly, the Company makes no representation or warranty as to the accuracy of such information or the likelihood that the Company will perform as projected.
ERG reported its second quarter 2016 results, highlighting several key achievements:
- Group EBITDA was €273 million, a strong set of results spread across all business areas.
- The debt structure was optimized through refinancing and prepayment activities, reducing interest costs.
- Guidance for 2016 was confirmed, with EBITDA expected to be approximately €400 million, CAPEX around €440 million, and adjusted net financial position of approximately €1.73 billion.
In the first quarter of 2016, ERG reported solid financial results. Total installed capacity increased to 1,720 MW due to acquisitions. Adjusted EBITDA was €163 million, up from €111 million in the first quarter of 2015. Guidance for 2016 was confirmed with adjusted EBITDA of €400 million, CAPEX of €440 million, and adjusted net financial position of €1.73 billion.
ERG reported its first quarter 2015 results, with key figures driven higher by renewables. Renewables production and revenue increased in Italy and abroad, while regulatory changes in Italy penalized power segment results. Group EBITDA was €111 million, with renewables contributing €95 million. Net debt was €409 million and guidance for 2015 was revised to reflect the deconsolidation of TotalErg.
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2. DISCLAIMER
This document contains certain forward-looking information that is subject to a
number of factors that may influence the accuracy of the statements and the
projections upon which the statements are based.
There can be non assurance that the projections or forecasts will ultimately prove to
be accurate; accordingly, the Company makes no representation or warranty as to
the accuracy of such information or the likelihood that the Company will perform as
projected.
2
3. AGENDA
2Q 2018 Highlights
Key Figures
Recent Developments
Results Review
Business Environment
1H 2018 Group EBITDA
Results by Segments
Key Financials
Profit & Loss
Investments
Cash Flow Statement
2018 Guidance and Conclusions
Appendix
3
4. HIGHLIGHTS: KEY FIGURES
4
Good results thanks to ERG generation mix
Adjusted EBITDA (€ mn)
NFP (€ mn)
Adjusted Net Profit (€ mn)
277
258
19
76
2Q 2018
1,466(2)
2Q 2018
CCGT
Wind
Corporate
EBITDA Margin
Solar
Hydro
Restated(1)
2Q 2017
1,233
Leverage
Derivatives
NFP excl. Derivatives
(1) It excludes TE contribution for €8.6mn in 2Q 2017 and €14.8mn in 1H 2017
(2) It includes Vendor Loan to api for €36mn.
30/06/201831/12/2017
1H 2018
Restated(1)
1H 2017
18
72
1H 2018
114107
Restated(1)
1H 2017
Restated(1)
2Q 2017
5. LIABILITY MANAGEMENT IN 1H 2018
Liability Management for about €500mn in 1H 2018
ResultsActions
Refinancing of ERG Eolica Adriatica PF for €98mn
Corporate loan refinancing for €150mn
Early settlement of the lease agreements for solar
assets and replacement with corporate loan for
€70mn
Repricing of PFs for €190mn, mainly for solar assets1
2
3
4 €4.5mn reduction of net financial costs per year
1 year extension of debt duration
Net KD reduction of 1% as of 2H 20181
2
3
6. BOOSTED GROWTH IN UK
6
Deal description
On August 2, 2018 ERG acquired 100% of Creag Riabhach Wind Farm
• 79.2MW authorized project in Scotland
• Construction to start in 2020
• Entry into operation by March 2022
• Expected production: 250GWh, more than 3,000 heq per year
• Total Capex: 89mn GBP (€98mn)
Strategic rationale
• Boosting ERG growth strategy in UK
• Secured pipeline in UK to increase from 84MW to 163MW
• The project will enable to accelerate the path towards the
2018-2022 BP targets
Evishagaran
Wind Pipeline
Sandy Knowe
Creag Riabhach
7. GREENFIELD DEVELOPMENT WELL ON TRACK
7
Pipeline included in BP 2018-22 Pipeline as of today
≃350
Pipeline included in
BP 2018-22
≃40%
Pipeline as of
today
≃70%
≃350
Secured: 135MW
• France
- Vent D’Est(1) 16MW
- Vaa2(2) 13MW
• Germany
- Linda 22MW
• UK
- Evishagaran 35MW
- Sandy Knowe 49MW
Secured: 247MW
• France
- Vent D’Est(1) 16MW
- Vaa2(2) 13MW
- Vaa2 ext. 7MW
- Le Melier(1) 8MW
- Torfou(2) 18MW
• Germany
- Linda(2) 22MW
• UK
- Evishagaran 35MW
- Sandy Knowe 49MW
- Creag Riabhach 79MW
Undergoing Secured Under construction
53
13
(1) In exercise
(2) Under construction
8. REPOWERING & REBLADING IN PROGRESS
8
• 4 projects entered into the permitting phase
• 1 project to apply for authorization by 3Q 2018
• Engineering in course for 1 project, to start permitting by year end
Construction
Authorization process
Engineering for Authorization
MW for RPW
in BP 2018-22
64
MW for RPW
as of 03/08/2018
MW for RPW
at end BP 2018-22
153 153
≃410
18
135
50
360
Repowering Reblading
MW for RBL
in BP 2018-22
MW for RBL
as of 03/08/2018
64
29
13
• 1 project under construction
• 2 projects in the permitting phase
• 1 project in the engineering phase
22
9. (1) With casting vote
NEWCO WITH QUERCUS IN THE SOLAR IN ITALY
9
Deal description
On August 3, 2018 ERG and Quercus Assets Selection Sarl signed an agreement for the constitution of
• ERG Q Solar1 (60% ERG, 40% Quercus) active in the solar sector in Italy
focus on acquisition of small solar plants (below 1MW) for a total target up to 150MW by 2021
total expected CAPEX up to €350mn
Governance Structure
BoD:
Chairman(1)
CEO
CFO
2 Directors
2 Directors
• Energy Management
• ERG aims at internalizing O&M &
Asset Management in the MT to
exploit further synergies
• M&A
• Asset Management
• Investment Approval based on predefined guidelines
• Low Double Digit target return on Equity (at premium vs traditional M&A)
Asset Management
60% 40%
10. NEWCO: STRATEGIC RATIONALE AND TARGETS
10
Approach & Strategic rationale
• Dedicated M&A team, based on a standardized business model
• Quick & Efficient decision making process
• Focus on medium small plants sector, with low liquidity
• Competitive returns vs. large scale M&A
• Way out clause exercisable in 18 months
• Target up to 150MW
Potential targets: 0.2-1.0MW plants
1.8
GW
184
plants
2.3 GW
958 plants
7.3GW
10,638 plants
7.8GW
720,273 plants
BIG SIZE
C > 5 MW
MEDIUM SIZE
1 MW < C < 5 MW
MEDIUM/SMALL SIZE
0.2 MW < C < 1 MW
ULTRA SMALL SIZE
C < 0.2 MW
Of which ca. 3GW
(5,000 plants) on the
market/potential
real targets
14. ENERGY PORTFOLIO
14
Wind Capacity
1,791MW
Sun Capacity
90MW
Water Capacity
527MW
Natural Gas Capacity
480MW
1H 2018 Production
1,931GWh
1H 2018 Production
64GWh
1H 2018 Production
1,001GWh
1H 2018 Production
1,054GWh
Total 1H 2018 Production: 4.0TWh
Total Energy Portfolio including hedging & other sales: 7.1TWh
19. INVESTMENTS
19
(1) M&A CAPEX include: Vent d’Est acquisition for €12mn, Epuron acquisition for €67.3mn, Valle de l’AA extension acquisition
for €1mn and ForVEI consolidation for €345mn
(2) M&A CAPEX include: Epuron acquisition for €67.3mn and Valle de l’AA extension acquisition for €1mn
447
345 M&A:
425(1)
Solar
Wind
Corporate
Hydro
66
CCGT
81
55
M&A:
68(2)
21. ADJUSTED COSTS P&L
21
Note: figures based on NO GAAP measures
1H 2018
Restated
1H 2017
Euro millions 2Q 2018
Restated
2Q 2017
277 258 Adjusted EBITDA 114 107
(136) (126) Amortization and depreciation (68) (64)
140 133 Adjusted EBIT 47 43
(38) (34) Net financial income (expenses) (20) (18)
0 (0) Net income (loss) from equity investments (0) (0)
103 99 Adjusted Results before taxes 27 25
(27) (26) Income taxes (8) (7)
76 72 Adjusted Results for the period 19 18
(0) 0 Minority interests (0) 0
76 72 Adjusted Net Profit 19 18
26% 26% Tax Rate 28% 28%
22. 1H 2018 CASH FLOW STATEMENT
22
Leverage
1,233
1,466
Net Debt
31/12/2017
Net working
capital
Net Debt
30/06/2018
Adj.
EBITDA
CAPEX Disposals(2)Financial
charges
Others
(277)
(285)425
143
38 (3)
45%
40%
(1) Acquisitions include: Vent d’Est for €12mn, Vaa2 extension for €1mn, Epuron for €67.3mn and ForVEI consolidation for €345mn
(2) It includes €179mn referred to TotalERG disposal (on January 10, 2018), and €106mn referred to Brockaghboy disposal (on March 8, 2018)
21
M&A(1)
Net operating cash flow of €77mn
171
Dividends
24. CAPEX:
Guidance increased to €520-540mn range to include recent
agreement for further development in the solar business
2018 GUIDANCE
24
Adj. EBITDA:
Guidance raised from €475mn to €490-500mn range277
490-500
2018 FCST
NFP:
Guidance increased to €1.35bn
1H 2018 2018 FCST
447(1)
1H 2018 2018 FCST
1,466(2)
≃1,350
1H 2018
Guidance range
Guidance
Actual
(1) CAPEX include the closing of Vent d’Est acquisition (which took place on March 22, 2018 amounting to €12mn), and ForVEI consolidation (whose acquisition took place on
January 12, 2018) for €345mn
(2) It includes Vendor Loan to api for €36mn
520-540
27. 2Q 2018 CASH FLOW STATEMENT
27
Leverage
1,229
1,466
Net Debt
31/03/2018
Net working
capital
Net Debt
30/06/2018
Adj.
EBITDA
CAPEX
Financial
charges
Others
(114)
68
79
20 0.6
45%
38%
(1) Acquisitions related to the closing of Vent d’Est (which took place on March 22, 2018 amounting to €12mn) and ForVEI consolidation (whose
acquisition took place on January 12, 2018) for €345mn.
13
M&A(1)
171
Dividends
33. 1H 2018 1H 2017 Euro millions 2Q 2018 2Q 2017
97 60 Wind 80 52
345 n.a. Solar (1) n.a.
1 1 Hydro 1 1
2 4 CCGT 1 2
1 1 Corporate 0 1
447 66 Total 81 55
INVESTMENTS
33
(2)
(1) It includes: Vent d’Est acquisition for €12mn, Epuron acquisition for €67.3mn and Valle de l’AA extension acquisition for €1mn
(2) It includes: Epuron acquisition for €67.3mn and Valle de l’AA extension acquisition for €1mn
(3) It refers to ForVEI consolidation
(1)
(3)