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Q1 2015 RESULTS – ERG SPA

ERG SPA · May 13, 2015 · 24 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q1 2015 RESULTS – ERG SPA – slide 1
    FIRST QUARTER 2015 RESULTS 13 MAY 2015 LUCA BETTONTE, CEO
  2. Q1 2015 RESULTS – ERG SPA – slide 2
    AGENDA 1Q 2015 Highlights Key Figures Results Review Business Environment 1Q 2015 Group EBITDA Results by Segments Investments Key Financials Profit & Loss Cash Flow Statement 2015 Guidance and Conclusions Appendix 3
  3. Q1 2015 RESULTS – ERG SPA – slide 3
    2014 PRO-FORMA EBITDA ( mn) NET PROFIT ( mn) 168 (55) 44 (14) (2) (2) (1) 30 107 (0.3) 1Q 2014 1Q 2014 1Q 2014 1Q 2014 IE+IES TotalErg S&T EOS IE + IES EOS + S&T Actual Pro-forma Actual Pro-forma NFP ( mn) 538 (129)…
  4. Q1 2015 RESULTS – ERG SPA – slide 4
    HIGHLIGHTS: KEY FIGURES RC Ebitda Adj ( mn) RC Net Profit ( mn) 34 107 111 30 22 29 POWER RENEWABLES CORPORATE 95 86 (7) (6) 1Q 2014 1Q 2014 Pro-forma 1Q 2015 Pro-forma 1Q 2015 Adj NFP ( mn) 409 335 225 ADJ. NFP…
  5. Q1 2015 RESULTS – ERG SPA – slide 5
    RESULTS REVIEW PAOLO MERLI CFO 6
  6. Q1 2015 RESULTS – ERG SPA – slide 6
    BUSINESS ENVIRONMENT Electricity Prices (/MWh) in Italy - PUN Renewables: Electricity Prices (/MWh) 154 149 75 58 53 97 96 52 95 97 92 50 49 50 51 91 91 73 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 1Q 2014 2Q 2014 3Q 2014 4Q…
  7. Q1 2015 RESULTS – ERG SPA – slide 7
    1Q 2015 GROUP EBITDA 9 (7) 1 111 107 1Q 2014 Renewables Power Corporate 1Q 2015 Pro-forma Growth in Renewables offset a tough regulatory framework in Power 8 Results Review
  8. Q1 2015 RESULTS – ERG SPA – slide 8
    RENEWABLES RESULTS RC Ebitda ( mn) Volumes (GWh) 95 5 860 3 86 3 805 88 4 44 3 74 47 49 4 48 680 84 636 74 1Q 2014 1Q 2015 1Q 2014 ITALY GERMANY FRANCE LUKERG(1) 1Q 2015 Production recovery both in Italy…
  9. Q1 2015 RESULTS – ERG SPA – slide 9
    POWER RESULTS RC Ebitda ( mn) Volumes (GWh) 29 614 600 22 1Q 2014 Pro-forma 1Q 2015 1Q 2014 Pro-forma 1Q 2015 New regulatory framework penalized ERG Power results 10 Results Review
  10. Q1 2015 RESULTS – ERG SPA – slide 10
    ADJUSTED INVESTMENTS ( mn) 13 12 2 3 POWER RENEWABLES (1) CORPORATE 11 8 0.3 0.3 1Q 2014 Pro-forma 1Q 2015 (1) Renewables adjusted for LUKERG Renew (50%). 11 Results Review
  11. Q1 2015 RESULTS – ERG SPA – slide 11
    TOTALERG: KEY FIGURES(1) Industry Retail Fuels Volumes (M tons) EMC Margin (/bbl) 3.7 5.18 5.14 (3.0) 1Q 2015 4Q 2014 1Q 2015 2Q 2014 3Q 2014 4Q 2014 2Q 2014 3Q 2014 1Q 2014 1Q 2014 4Q 2014 Euro millions 1Q 2015 1Q…
  12. Q1 2015 RESULTS – ERG SPA – slide 12
    KEY FINANCIALS 13
  13. Q1 2015 RESULTS – ERG SPA – slide 13
    PRO-FORMA REPLACEMENT COST P&L 4Q 2014 1Q 2014 Euro millions 1Q 2015 Pro-forma Pro-forma 80 RC Adjusted EBITDA 111 107 (47) Amortization and depreciation (41) (39) 33 RC Adjusted EBIT 71 68 (19) Net financial income (expenses)…
  14. Q1 2015 RESULTS – ERG SPA – slide 14
    1Q 2015 ADJUSTED CASH FLOW STATEMENT (111) 7 1 15 13 409 1 (78) 335 257 19% 16% 13% Adj. Net Debt Adj. Net NFP 50% Net Debt Cash Flow Working Financial Taxes 31/12/2014 CAPEX(1) M&A(2) Debt LUKERG 31/03/2015…
  15. Q1 2015 RESULTS – ERG SPA – slide 15
    2015 GUIDANCE AND CONCLUSIONS LUCA BETTONTE CEO 16
  16. Q1 2015 RESULTS – ERG SPA – slide 16
    2015 GUIDANCE AND (1) CONCLUSIONS 330 EBITDA: 111 Further growth in Renewables Lower contribution from CCGT following the new regulation 1Q 2015 since 1 January 2015 2015 FCST POWER RENEWABLES CORPORATE 120 CAPEX: 13…
  17. Q1 2015 RESULTS – ERG SPA – slide 17
    APPENDIX 18
  18. Q1 2015 RESULTS – ERG SPA – slide 18
    2014 EBITDA PRO-FORMA 2Q 2014 ( mn) 3Q 2014 ( mn) 132 (45) 100 (2) (17) (10) 1 (2) 80 (0) (1) 75 2Q 2014 2Q 2014 3Q 2014 3Q 2014 IE+IES TotalErg S&T EOS Pro-forma Actual IE+IES TotalErg S&T EOS Pro-forma Actual 4Q 2014…
  19. Q1 2015 RESULTS – ERG SPA – slide 19
    2014 NET PROFIT PRO-FORMA 2Q 2014 ( mn) 3Q 2014 ( mn) 20 (10) 3 14 12 (1) 1 10 2Q 2014 2Q 2014 3Q 2014 3Q 2014 IE + IES EOS + S&T IE + IES EOS + S&T Actual Pro-forma Actual Pro-forma 4Q 2014 ( mn) FY 2014 ( mn) 76…
  20. Q1 2015 RESULTS – ERG SPA – slide 20
    1Q 2015 RESULTS 4Q 2014 1Q 2014 Euro millions 1Q 2015 Pro-forma Pro-forma 233 Adjusted Revenues 275 280 80 RC EBITDA Adjusted 111 107 66 - Renewables 95 86 19 - Power 22 29 = (6) - Corporate (6) (7) 21 Appendix
  21. Q1 2015 RESULTS – ERG SPA – slide 21
    RENEWABLES: KEY FIGURES (1/2) 4Q 2014 1Q 2015 1Q 2014 1,341 Installed capacity (end-period, MW) 1,341 1,340 of which: 1,087 - Italy 1,087 1,086 86 - Germany 86 86 64 - France 64 64 27 - Bulgaria (1) 27 27 77 - Romania (1)…
  22. Q1 2015 RESULTS – ERG SPA – slide 22
    RENEWABLES: KEY FIGURES (2/2) 4Q 2014 Euro millions 1Q 2015 1Q 2014 RC EBITDA: 56 Italy 84 74 4 Germany 3 4 2 France 3 3 4 LUKERG (1) 5 4 of which: 2 - Bulgaria (1) 2 1 3 - Romania (1) 3 3 66 Total RC EBITDA 95 86 (39)…
  23. Q1 2015 RESULTS – ERG SPA – slide 23
    ERG POWER: KEY FIGURES 4Q 2014 Euro millions 1Q 2015 1Q 2014 707 Electricity Production (GWh) 614 600 19 RC EBITDA 22 29 (6) Depreciation (7) (7) 14 RC EBIT 15 21 24 Appendix
  24. Q1 2015 RESULTS – ERG SPA – slide 24
    INVESTMENTS 4Q 2014 1Q 2014 Euro millions 1Q 2015 Pro-forma Pro-forma (1) 9 Renewables 11 8 4 Power 2 3 1 Corporate 0 0 13 Adjusted Total 13 12 (1) It includes ERG quota of investments made by LUKERG Renew 25…

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