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Q4 AND 2013 RESULTS – Erg Resources

Erg Resources · Mar 12, 2014 · 27 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. Q4 AND 2013 RESULTS – Erg Resources – slide 1
    FOURTH QUARTER 2013 RESULTS 12 MARCH 2014 LUCA BETTONTE, CEO
  2. Q4 AND 2013 RESULTS – Erg Resources – slide 2
    AGENDA 4Q 2013 Highlights Key Figures 2013 main Achievements Results Review Business Environment 4Q 2013 Group EBITDA Results by Segments Key Financials Profit & Loss Investments Cash Flow Statement 2014 Guidance and…
  3. Q4 AND 2013 RESULTS – Erg Resources – slide 3
    HIGHLIGHTS: KEY FIGURES RC Ebitda Adj (mn) RC Net Profit ( mn) 569 38 458 358 POWER & GAS 328 RENEWABLES REFINING & MARKETING 12 CORPORATE 128 132 10 245 137 89 83 21 37 3 (28) (5) 10 (2) 59 (30) (7) (9) 0 2012 2013 2012…
  4. Q4 AND 2013 RESULTS – Erg Resources – slide 4
    2013 MAIN ACHIEVEMENTS February Acquisition of IP Maestrale wind assets (636MW) June M&A deal for wind assets in Romania (70MW) and Bulgaria (14MW) October Integration of O&M activities on Italian wind farms Completion…
  5. Q4 AND 2013 RESULTS – Erg Resources – slide 5
    RESULTS REVIEW PAOLO MERLI CFO 6
  6. Q4 AND 2013 RESULTS – Erg Resources – slide 6
    BUSINESS ENVIRONMENT Renewables: Electricity Prices (/Mwh) Electricity Prices (/Mwh) 154 146 123 119 91 91 104 95 95 95 94 92 66 65 91 90 4Q 2013 4Q 2012 1Q 2013 2Q 2013 3Q 2013 4Q 2013 2Q 2013 3Q 2013 4Q 2012 1Q 2013 (1)…
  7. Q4 AND 2013 RESULTS – Erg Resources – slide 7
    FY 2013 GROUP EBITDA 30 (25) 108 (1) 569 458 1,292 0 2012 Renewables Power & Gas Refining & Marketing Corporate 2013 Ebitda growth driven by Renewables and Power 8 Results Review
  8. Q4 AND 2013 RESULTS – Erg Resources – slide 8
    RENEWABLES RESULTS RC Ebitda ( mn) Volumes (Gwh) 245 2,403 6 111 8 127 11 155 1,154 121 ERG Wind ERG Wind 1,222 137 22 1.3 219 128 8 2,010 594 1,072 61 43 350 51 283 128 59 13 43 ERG Wind 3 37 3 294 449 0.7 4 3 29…
  9. Q4 AND 2013 RESULTS – Erg Resources – slide 9
    POWER RESULTS ISAB ENERGY ERG POWER RC Ebitda ( mn) Volumes (Gwh) 358 6,997 6,805 328 4,142 4,077 254 241 2,920 1,766 2,663 1,592 89 1,037 923 83 728 104 669 87 2012 0 64 2013 59 4Q 2012 4Q 2013 2012 25 2013…
  10. Q4 AND 2013 RESULTS – Erg Resources – slide 10
    MARKETING RESULTS RC Ebitda ( mn) Market Share (%) TOTALERG EOS 56 12.1% 55 11.5% 0.8% 46 0.7% 48 4Q 2012 1Q 2013 2Q 2013 3Q 2013 4Q 2013 14 11 EOS TOTALERG 10 15 6 10 2012 (1) 1 0 2013 4Q 2012 4Q 2013 Results…
  11. Q4 AND 2013 RESULTS – Erg Resources – slide 11
    REFINING RESULTS: COASTAL AND INLAND Volumes(2) (k tons) COASTAL REFINING RC Ebitda ( mn) INLAND REFINING(1) 4Q 2013 8,333 4Q 2012 2012 2013 0.4 0 (3) 4,479 (3) 3,600 (0.6) (9) (4) (13) 3,854 2,215 1,065 916 1,385 681…
  12. Q4 AND 2013 RESULTS – Erg Resources – slide 12
    KEY FINANCIALS 13
  13. Q4 AND 2013 RESULTS – Erg Resources – slide 13
    PRO-FORMA REPLACEMENT COST P&L 2013 2012 Euro millions 4Q 2013 4Q 2012 569 458 RC Adjusted EBITDA 132 128 (291) (242) Amortization and depreciation (76) (57) 278 216 RC Adjusted EBIT 56 70 (88) (64) Net financial income (expenses)…
  14. Q4 AND 2013 RESULTS – Erg Resources – slide 14
    ADJUSTED INVESTMENTS 238 26 ( mn) POWER & GAS RENEWABLES (1) REFINING & MARKETING (2) 158 CORPORATE 35 (4) 170 71 (3) 77 11 45 15 51(5) 51 41 17 1.2 13 1.7 0.5 0.7 14 0 2012 2013 4Q 2012 4Q 2013 (1) Renewables…
  15. Q4 AND 2013 RESULTS – Erg Resources – slide 15
    FY 2013 ADJUSTED CASH FLOW STATEMENT 63 (6) 10 1,799 1,565 (426) 722 800 (208) 1,015 68 34% 88 63 807 722 (487) (46) 165 29% 27% 0 ERG PUT Adj. Net NFP 51% Net Debt Adj. Net Gebeleisis & TotalErg and 31/12/2013…
  16. Q4 AND 2013 RESULTS – Erg Resources – slide 16
    2014 GUIDANCE AND CONCLUSIONS LUCA BETTONTE CEO 17
  17. Q4 AND 2013 RESULTS – Erg Resources – slide 17
    2014 GUIDANCE AND CONCLUSIONS 569 500 470 EBITDA: 437(1) P&G EBITDA decrease from July 1, 2014 following CIP6 early termination and sale of ISAB Energy plant 0 Like-for-like growth driven by Renewables and exit from 2013 FCST…
  18. Q4 AND 2013 RESULTS – Erg Resources – slide 18
    APPENDIX 19
  19. Q4 AND 2013 RESULTS – Erg Resources – slide 19
    4Q 2013 GROUP EBITDA 22 (6) (13) 2 132 128 1,292 0 4Q 2012 Renewables Power & Gas Refining & Marketing Corporate 4Q 2013 Ebitda growth driven by Renewables 20 Appendix
  20. Q4 AND 2013 RESULTS – Erg Resources – slide 20
    4Q 2013 ADJUSTED CASH FLOW STATEMENT (114) 23 1,565 (178) 67 67 (426) 10 44% (208) 1,015 807 34% 29% 0 NFP 51% Adj. Net PUT ERG Adj. Net TotalErg and Net Debt Cash Flow Working Financial Taxes Option on Renew…
  21. Q4 AND 2013 RESULTS – Erg Resources – slide 21
    4Q AND FY 2013 RESULTS 2013 2012 Euro millions 4Q 2013 4Q 2012 10,368 12,457 Adjusted Revenues 2,843 2,645 569 458 RC EBITDA Adjusted 132 128 245 137 - Renewables 59 37 358 328 - Power & Gas 83 89 (5) 21 - Refining &…
  22. Q4 AND 2013 RESULTS – Erg Resources – slide 22
    RENEWABLES: KEY FIGURES (1/2) 2013 2012 4Q 2013 4Q 2012 1,340 596 Installed capacity (end-period, MW) 1,340 596 of which: 1,087 512 - Italy 1,086 512 86 n.a. - Germany 86 n.a. 64 64 - France 64 64 27 20 - Bulgaria (1) 27…
  23. Q4 AND 2013 RESULTS – Erg Resources – slide 23
    RENEWABLES: KEY FIGURES (2/2) 2013 2012 Euro millions 4Q 2013 4Q 2012 RC EBITDA: 219 128 Italy 49 34 11 n.a. Germany 4 n.a. 8 8 France 3 3 6 1 LUKERG (1) 3 1 of which: 4 1 - Bulgaria (1) 1 1 2 n.a. - Romania (1) 2 n.a.…
  24. Q4 AND 2013 RESULTS – Erg Resources – slide 24
    ISAB ENERGY: KEY FIGURES 2013 2012 4Q 2013 4Q 2012 4,142 4,077 Sales (Gwh) 923 1,037 653 631 Sales ( mn) 171 162 254 241 RC EBITDA (Eu mn) 59 64 202 192 RC EBIT (Eu mn) 44 52 90% 88% Net capacity utilization (%) 79% 89% 119…
  25. Q4 AND 2013 RESULTS – Erg Resources – slide 25
    ERG POWER: KEY FIGURES 2013 2012 Euro millions 4Q 2013 4Q 2012 2,663 2,920 Electricity Production (GWh) 669 728 104 87 RC EBITDA 24 25 (28) (27) Depreciation (7) (7) 76 61 RC EBIT 17 18 26 Appendix
  26. Q4 AND 2013 RESULTS – Erg Resources – slide 26
    INTEGRATED DOWNSTREAM: KEY FIGURES (1) 2013 2012 Euro millions 4Q 2013 4Q 2012 45 53 Adjusted RC EBITDA 11 11 55 56 - Marketing 11 14 (9) (3) - Inland refining and logistics 0 (3) (60) (59) Adjusted Depreciation (16) (14)…
  27. Q4 AND 2013 RESULTS – Erg Resources – slide 27
    COASTAL REFINING: KEY FIGURES (1) 2013 2012 Euro millions 4Q 2013 4Q 2012 35 107 Gross refining margin 10 21 (50) (32) Adjusted RC EBITDA (13) (1) (23) (38) Adjusted Depreciation (6) (6) (73) (70) Adjusted RC EBIT (19)…

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