In the second quarter of 2013, ERG reported strong results from its Renewables and Power segments. Renewables saw a significant increase in electricity production volumes driven by ERG Wind. Power results remained strong. However, Refining and Marketing results remained weak due to low refining margins. The company reiterated its full-year guidance, expecting over 90% of EBITDA to come from Renewables and Power segments. Key developments in the quarter included the acquisition of two wind farms in Romania and Bulgaria, expanding the company's renewable energy portfolio abroad.
In the fourth quarter of 2013, ERG reported strong growth in renewable energy production and EBITDA. EBITDA increased 27% year-over-year to €132 million, driven by growth in renewables and stable performance in power generation, while refining and marketing results were negatively impacted by a difficult business environment. Guidance for 2014 forecasts further growth led by renewables and the exit from coastal refining, with EBITDA of approximately €470 million and adjusted net debt of around €1.1 billion.
In the fourth quarter of 2012, the company reported adjusted EBITDA of €128 million, driven by growth in its power, renewables, and refining & marketing segments. For 2013, the company expects adjusted EBITDA to exceed €500 million, supported by a full-year contribution from its recent power acquisition and favorable market conditions in power generation. The company also forecasts its adjusted net financial position to improve to around €1.3 billion by the end of 2013.
In the second quarter of 2014, ERG reported strong growth in net profit. RC EBITDA increased to €132 million compared to €120 million in the second quarter of 2013, driven by improved performance in integrated downstream and the exit from coastal refining. Net debt was €1,234 million with a leverage ratio of 41%. Guidance for 2014 was updated to include a new wind farm investment in Poland and the positive impact in the second half of the year from the ISAB Energy transaction.
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.
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.
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.
The document summarizes the findings of a public expenditure tracking project in Ghana from 2010-2012. It found that while allocations to the water and sanitation sector increased overall, the Ghanaian government component of funding decreased while donor funding increased. Disbursements from the government were often delayed, creating challenges for sector agencies. Over the three years, the project faced difficulties getting information from some agencies and sustaining funding, but hopes to improve its impact going forward with renewed support.
Generali Group reported its 1Q 2014 results. Operating result was stable at €1.296 billion compared to 1Q 2013. Net result increased 9.4% to €660 million mainly due to improved non-operating investment results. Shareholders' equity rose 9.9% to €21.741 billion and Solvency I ratio increased 11 percentage points to 152% due to net income and financial market developments. Life insurance operating result was stable at €779 million despite a challenging low yield environment. P&C insurance operating result increased 3.7% to €516 million from higher technical and investment results.
In the fourth quarter of 2013, ERG reported strong growth in renewable energy production and EBITDA. EBITDA increased 27% year-over-year to €132 million, driven by growth in renewables and stable performance in power generation, while refining and marketing results were negatively impacted by a difficult business environment. Guidance for 2014 forecasts further growth led by renewables and the exit from coastal refining, with EBITDA of approximately €470 million and adjusted net debt of around €1.1 billion.
In the fourth quarter of 2012, the company reported adjusted EBITDA of €128 million, driven by growth in its power, renewables, and refining & marketing segments. For 2013, the company expects adjusted EBITDA to exceed €500 million, supported by a full-year contribution from its recent power acquisition and favorable market conditions in power generation. The company also forecasts its adjusted net financial position to improve to around €1.3 billion by the end of 2013.
In the second quarter of 2014, ERG reported strong growth in net profit. RC EBITDA increased to €132 million compared to €120 million in the second quarter of 2013, driven by improved performance in integrated downstream and the exit from coastal refining. Net debt was €1,234 million with a leverage ratio of 41%. Guidance for 2014 was updated to include a new wind farm investment in Poland and the positive impact in the second half of the year from the ISAB Energy transaction.
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.
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.
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.
The document summarizes the findings of a public expenditure tracking project in Ghana from 2010-2012. It found that while allocations to the water and sanitation sector increased overall, the Ghanaian government component of funding decreased while donor funding increased. Disbursements from the government were often delayed, creating challenges for sector agencies. Over the three years, the project faced difficulties getting information from some agencies and sustaining funding, but hopes to improve its impact going forward with renewed support.
Generali Group reported its 1Q 2014 results. Operating result was stable at €1.296 billion compared to 1Q 2013. Net result increased 9.4% to €660 million mainly due to improved non-operating investment results. Shareholders' equity rose 9.9% to €21.741 billion and Solvency I ratio increased 11 percentage points to 152% due to net income and financial market developments. Life insurance operating result was stable at €779 million despite a challenging low yield environment. P&C insurance operating result increased 3.7% to €516 million from higher technical and investment results.
In the first quarter of 2013, ERG reported a 27% increase in adjusted EBITDA to €173 million compared to the same period last year, driven by strong performance in renewables and improvements in refining and marketing. Renewables and power contributed over 90% of EBITDA for the quarter. Net debt was reduced to €1.8 billion and guidance for the full year was confirmed, with EBITDA expected to exceed €500 million and net debt to decrease to around €1.3 billion.
ERG reported its third quarter 2014 results. Key highlights included strong bottom line results and reduction in net financial position. Group EBITDA was €100 million for 3Q 2014 compared to €143 million for 3Q 2013. Renewables saw higher production in Italy and abroad. Power results decreased due to the disposal of the ISAB Energy plant. The integrated downstream segment continued to see a tough marketing environment. Guidance for 2014 was revised downward for optimization in the downstream segment.
ERG reported its third quarter 2014 results with the following highlights:
- Adjusted EBITDA was €100 million for 3Q2014, down from €143 million in 3Q2013 mainly due to the disposal of ISAB Energy plant.
- Renewables saw higher production both in Italy and abroad which led to an EBITDA of €52 million.
- Net debt was reduced to €640 million from €1.015 billion at the end of 2013 through cash flow from operations and early termination of a contract.
- Guidance for 2014 was revised downward for Integrated Downstream segment but upgraded for Renewables. The company continues its transformation with growth in Renewables.
The document summarizes the third quarter 2013 results of an unnamed company. Key highlights include an increase in adjusted EBITDA to €437 million from €330 million in the prior year period, driven by growth in renewables and power & gas. Net profit was €36 million. Recent developments included acquisitions that further diversified the company's renewable assets geographically. Guidance for 2013 was confirmed, with expected EBITDA above €500 million and net financial position of approximately €1,300 million.
- 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.
ERG reported its fourth quarter 2014 results on 12 March 2015. Key highlights included an EBITDA of €91 million for Q4 2014, driven by improved results in renewables. Power results decreased due to the disposal of the ISAB Energy plant. The net financial position was reduced to €538 million at year-end 2014, partly due to the early termination of the CIP6 convention which provided €515 million in cash. Guidance for 2015 projects an EBITDA of around €390 million, excluding one-off items in 2014.
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.
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.
- 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.
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 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. 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 €
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.
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.
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 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.
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.
- Enel Group reported 1Q 2014 results in line with expectations, with EBITDA up 0.5% compared to the prior year period restated for IFRS 11.
- Italian and Iberian operations saw EBITDA increases of 7% and 0.5% respectively, despite weak demand and negative regulatory frameworks. Latam operations EBITDA declined 21.6% due to forex effects and lower generation margins.
- Group net debt increased 4.6% to €41.5 billion compared to December 2013 levels, impacted by seasonal factors including the payment of dividends. The average cost of gross debt was 5.0% with an average debt maturity of 6 years and 9 months
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.
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.
In the first quarter of 2013, ERG reported a 27% increase in adjusted EBITDA to €173 million compared to the same period last year, driven by strong performance in renewables and improvements in refining and marketing. Renewables and power contributed over 90% of EBITDA for the quarter. Net debt was reduced to €1.8 billion and guidance for the full year was confirmed, with EBITDA expected to exceed €500 million and net debt to decrease to around €1.3 billion.
ERG reported its third quarter 2014 results. Key highlights included strong bottom line results and reduction in net financial position. Group EBITDA was €100 million for 3Q 2014 compared to €143 million for 3Q 2013. Renewables saw higher production in Italy and abroad. Power results decreased due to the disposal of the ISAB Energy plant. The integrated downstream segment continued to see a tough marketing environment. Guidance for 2014 was revised downward for optimization in the downstream segment.
ERG reported its third quarter 2014 results with the following highlights:
- Adjusted EBITDA was €100 million for 3Q2014, down from €143 million in 3Q2013 mainly due to the disposal of ISAB Energy plant.
- Renewables saw higher production both in Italy and abroad which led to an EBITDA of €52 million.
- Net debt was reduced to €640 million from €1.015 billion at the end of 2013 through cash flow from operations and early termination of a contract.
- Guidance for 2014 was revised downward for Integrated Downstream segment but upgraded for Renewables. The company continues its transformation with growth in Renewables.
The document summarizes the third quarter 2013 results of an unnamed company. Key highlights include an increase in adjusted EBITDA to €437 million from €330 million in the prior year period, driven by growth in renewables and power & gas. Net profit was €36 million. Recent developments included acquisitions that further diversified the company's renewable assets geographically. Guidance for 2013 was confirmed, with expected EBITDA above €500 million and net financial position of approximately €1,300 million.
- 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.
ERG reported its fourth quarter 2014 results on 12 March 2015. Key highlights included an EBITDA of €91 million for Q4 2014, driven by improved results in renewables. Power results decreased due to the disposal of the ISAB Energy plant. The net financial position was reduced to €538 million at year-end 2014, partly due to the early termination of the CIP6 convention which provided €515 million in cash. Guidance for 2015 projects an EBITDA of around €390 million, excluding one-off items in 2014.
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.
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.
- 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.
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 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. 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 €
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.
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.
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 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.
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.
- Enel Group reported 1Q 2014 results in line with expectations, with EBITDA up 0.5% compared to the prior year period restated for IFRS 11.
- Italian and Iberian operations saw EBITDA increases of 7% and 0.5% respectively, despite weak demand and negative regulatory frameworks. Latam operations EBITDA declined 21.6% due to forex effects and lower generation margins.
- Group net debt increased 4.6% to €41.5 billion compared to December 2013 levels, impacted by seasonal factors including the payment of dividends. The average cost of gross debt was 5.0% with an average debt maturity of 6 years and 9 months
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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.
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 - 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.
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.
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The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
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2. 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.
3. 3
AGENDA
2Q 2013 Highlights
✓ Key Figures
✓ Recent Developments in Renewables
Results Review
✓ Business Environment
✓ 2Q 2013 Group EBITDA
✓ Results by Segments
Key Financials
✓ Profit & Loss
✓ Investments
✓ Cash Flow Statement
2013 Guidance and Conclusions
Appendix
4. 4
RC Ebitda Adj (€mn)
HIGHLIGHTS: KEY FIGURES
27%
43%
Leverage
RC Net Profit (€ mn)
Strong Renewables and Power, weak R&M
POWER & GAS
RENEWABLES
REFINING & MARKETING
CORPORATE
722
1,462
0
30/06/2013
DERIVATIVES
NFP EXCL. DERIVATIVES1,298
(1) Adjusted Net Financial Position does not include NFP of ISAB Srl
164
638
84
31/12/2012
(1)
205
293
0
159
73
(14)
(14)
32
2
(8)
1H 2012
2Q 2013
1H 2013
2Q 2012
94
120
175
150
(16)
(16)
67
85
58
(14)
(9)
1H 2012
2Q 2013
(9)
0
25
(10)
(2)
1H 2013
2Q 2012
Highlights
5. 5
FURTHER EXPANSION IN EASTERN EUROPE
• On June 20, 2013 LUKERG Renew has signed an agreement withVestas to
purchase Gebeleisis wind farm (70MW), fully operational since February 2013
• EV of €109.2mn (€1.56mn/MW)
• Producibility: 2,300heq
• Closing took place on June 28, 2013
Romania
• On June 20, 2013 LUKERG Renew has signed an agreement withVestas to
purchase Hrabrovo wind farm (14MW), fully operational since March 2012
• EV of €17.6mn (€1.26mn/MW)
• Producibility: 2,400heq
• Located nearTcherga wind farm but with no grid limitations
• Closing expected in 3Q 2013, after the Antitrust approval
Bulgaria
• Securing targeted growth in Eastern Europe (+100MW in 2013-15 Business Plan)
• Boosting geographical diversification: 20% of installed capacity will be abroad
• Strengthening ERG Renew partnership withVestas
ERG Renew
strategy
Highlights
6. 6
INTEGRATION IN THE O&M ACTIVITIES
• On July 26, 2013 ERG reached an agreement with Maluni to acquire a 100% stake
in a Newco responsible for O&M at ERG Wind’s Italian wind farms
• EV of €10mn
• 136 workforce highly specialized in the O&M of wind farms
• Closing to take place in 4Q 2013 after clearance from ERG Wind’s Lenders
• Further acquisition of technical skills to manage wind farms in an integrated way
• Margin internalization in excess of €5mn per year, boosting profitability at ERG Wind
• Possibility to expand O&M activities to ERG Renew wind parks in Italy and abroad
under study, with a high potential of further costs optimization
Strategic
rationale
Highlights
Deal
description
19. 19
293
>500
1H 2013
2013 GUIDANCE AND CONCLUSIONS
2013 FCST
102
2013 FCST(2)
1H 2013 2013 FCST(3)
LIQUIDITY PF OTHER AT MLT
1,462 ≈1,300
EBITDA:
CAPEX:
NFP:
Strong growth consistent with
new business model
RENEWABLES CORPORATER&MP&G
0
0
0
✓Economic guidance confirmed after 1H results
✓Renewables & Power to contribute in excess of 90%
✓R&M expected to remain weak
✓FY Capex guidance adjusted to take into account Gebeleisis
acquisition
✓For 6M focus will be in Renewables: advancement in Romania
and in Palazzo San Gervasio wind farm construction
✓Guidance confirmed
1H 2013(1)
≈220
(1) It does not include 20% ISAB investments (ca. €15mn); it includes €55mn for Gebeleisis wind farm acquisition in Romania
(2) It includes M&A investments in Renewables: €55mn for Gebeleisis in Romania, €9mn for Hrabrovo in Bulgaria and €10mn for ERG Wind O&M activities
(3) It assumes put exercise on ISAB refinery within 31.12.2013