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Q1 2014 RESULTS – ERG SPA

ERG SPA · May 15, 2014 · 23 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 2014 RESULTS – ERG SPA – slide 1
    FIRST QUARTER 2014 RESULTS 15 MAY 2014 LUCA BETTONTE, CEO
  2. Q1 2014 RESULTS – ERG SPA – slide 2
    AGENDA 1Q 2014 Highlights Key Figures Results Review Business Environment 1Q 2014 Group EBITDA Results by Segments Key Financials Profit & Loss Investments Cash Flow Statement 2014 Guidance and Conclusions Appendix 3
  3. Q1 2014 RESULTS – ERG SPA – slide 3
    HIGHLIGHTS: KEY FIGURES RC Ebitda Adj ( mn) RC Net Profit ( mn) 173 168 44 90 84 27 POWER RENEWABLES INTEGRATED DOWNSTREAM CORPORATE 92 86 (2) 5 (7) (7) 1Q 2013 1Q 2013 1Q 2014 1Q 2014 1,015 1,048 878 868 ADJ. NFP…
  4. Q1 2014 RESULTS – ERG SPA – slide 4
    RESULTS REVIEW PAOLO MERLI CFO 5
  5. Q1 2014 RESULTS – ERG SPA – slide 5
    BUSINESS ENVIRONMENT Renewables: Electricity Prices (/Mwh) Electricity Prices (/Mwh) 115 154 149 101 87 75 64 96 95 97 52 95 91 95 91 90 4Q 2013 1Q 2014 2Q 2013 3Q 2013 1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 1Q 2013 (1)…
  6. Q1 2014 RESULTS – ERG SPA – slide 6
    1Q 2014 GROUP EBITDA 173 (6) (0) (6) 7 168 1,292 1Q 2013 Renewables Power Integrated Downstream Corporate 1Q 2014 Solid results despite weak business environment 7 Results Review
  7. Q1 2014 RESULTS – ERG SPA – slide 7
    RENEWABLES RESULTS RC Ebitda ( mn) Volumes (Gwh) 92 86 809 12 805 3 4 16 3 34 74 4 44 47 48 49 414 ERG Wind 43 ERG Wind 376 85 ERG Wind 715 ERG Wind 636 74 1Q 2013 1Q 2014 1Q 2013 ITALY GERMANY FRANCE LUKERG(1) 1Q…
  8. Q1 2014 RESULTS – ERG SPA – slide 8
    POWER RESULTS RC Ebitda ( mn) Volumes (Gwh) ISAB ENERGY ERG POWER 90 84 1,793 1,655 1,072 65 55 1,054 721 600 25 29 1Q 2013 1Q 2014 1Q 2013 1Q 2014 Good results in Power despite prices decline 9 Results Review
  9. Q1 2014 RESULTS – ERG SPA – slide 9
    INTEGRATED DOWNSTREAM RESULTS TOTALERG RC Ebitda ( mn) Market Share (%) COASTAL REFINING ERG SUPPLY & TRADING EOS 11.1% 11.1% TOTALERG REFINING (1) TOTALERG MARKETING TOTAL INTEGRATED DOWNSTREAM RC EBITDA 1Q 2013 2Q 2013 3Q…
  10. Q1 2014 RESULTS – ERG SPA – slide 10
    KEY FINANCIALS 11
  11. Q1 2014 RESULTS – ERG SPA – slide 11
    PRO-FORMA REPLACEMENT COST P&L 4Q 2013 Euro millions 1Q 2014 1Q 2013 132 RC Adjusted EBITDA 168 173 (76) Amortization and depreciation (64) (70) 56 RC Adjusted EBIT 104 103 (23) Net financial income (expenses) (15) (24) 0…
  12. Q1 2014 RESULTS – ERG SPA – slide 12
    ADJUSTED INVESTMENTS ( mn) POWER RENEWABLES(1) INTEGRATED DOWNSTREAM(2) 20 CORPORATE 18 4 4 10 8 6 6 0 0 1Q 2013 1Q 2014 (1) Renewables adjusted for LUKERG Renew (50%). (2) Integrated Downstream adjusted for…
  13. Q1 2014 RESULTS – ERG SPA – slide 13
    1Q 2014 ADJUSTED CASH FLOW STATEMENT 22 11 (50) 17 15 (147) 164 (303) 1,048 1,015 34% 33% 744 26% NFP 51% Adj. Net Adj. Net TotalErg and Net Debt Cash Flow Working Financial Dividends Taxes Capital 50% Debt…
  14. Q1 2014 RESULTS – ERG SPA – slide 14
    2014 GUIDANCE AND CONCLUSIONS LUCA BETTONTE CEO 15
  15. Q1 2014 RESULTS – ERG SPA – slide 15
    2014 GUIDANCE AND CONCLUSIONS 470 EBITDA: P&G EBITDA decrease from July 1, 2014 assuming CIP6 early termination and sale of ISAB Energy plant 168 Like-for-like growth driven by Renewables and exit from Coastal Refining 1Q 2014…
  16. Q1 2014 RESULTS – ERG SPA – slide 16
    APPENDIX 17
  17. Q1 2014 RESULTS – ERG SPA – slide 17
    1Q 2014 RESULTS 4Q 2013 Euro millions 1Q 2014 1Q 2013 2,843 Adjusted Revenues 1,037 2,294 132 RC EBITDA Adjusted 168 173 59 - Renewables 86 92 83 - Power 84 90 (2) - Integrated Downstream 5 (2) = (7) - Corporate…
  18. Q1 2014 RESULTS – ERG SPA – slide 18
    RENEWABLES: KEY FIGURES (1/2) 4Q 2013 1Q 2014 1Q 2013 1,340 Installed capacity (end-period, MW) 1,340 1,232 of which: 1,087 - Italy 1,087 1,062 86 - Germany 86 86 64 - France 64 64 27 - Bulgaria (1) 27 20 76 - Romania (1)…
  19. Q1 2014 RESULTS – ERG SPA – slide 19
    RENEWABLES: KEY FIGURES (2/2) 4Q 2013 Euro millions 1Q 2014 1Q 2013 RC EBITDA: 49 Italy 74 85 4 Germany 4 3 3 France 3 2 3 LUKERG (1) 4 1 of which: 1 - Bulgaria (1) 1 1 2 - Romania (1) 3 n.a. 59 Total RC EBITDA 86 92…
  20. Q1 2014 RESULTS – ERG SPA – slide 20
    ISAB ENERGY: KEY FIGURES 4Q 2013 1Q 2014 1Q 2013 923 Sales (Gwh) 1,054 1,072 171 Sales ( mn) 143 161 59 RC EBITDA (Eu mn) 55 65 44 RC EBIT (Eu mn) 43 53 79% Net capacity utilization (%) 92% 94% 119 CIP6 tariffs…
  21. Q1 2014 RESULTS – ERG SPA – slide 21
    ERG POWER: KEY FIGURES 4Q 2013 Euro millions 1Q 2014 1Q 2013 669 Electricity Production (GWh) 600 721 24 RC EBITDA 29 25 (7) Depreciation (7) (7) 17 RC EBIT 21 18 22 Appendix
  22. Q1 2014 RESULTS – ERG SPA – slide 22
    INTEGRATED DOWNSTREAM: KEY FIGURES 4Q 2013 Euro millions 1Q 2014 1Q 2013 (2) Adjusted RC EBITDA 5 (2) 10 - TOTALERG (51%) 2 4 1 - ERG Oil Sicilia 1 1 0 - ERG Supply & Trading 2 0 (13) - Coastal Refining 0 (7) (22) Adjusted…
  23. Q1 2014 RESULTS – ERG SPA – slide 23
    INVESTMENTS 4Q 2013 Euro millions 1Q 2014 1Q 2013 51(1) Renewables(2) 8 10 11 Power 4 4 14 Integrated Downstream(3) 6 6 1 Corporate 0 0 77 Adjusted Total 18 20 (1) It includes investment for the acquisition of…

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