A2A Debt Investor Presentation
DISCLAIMER IMPORTANT NOTICE – STRICTLY CONFIDENTIAL By accessing this investor presentation, you agree to be bound by the following limitations. This presentation has been prepared by A2A S.p.A. (“A 2 A” or the “Company”) . This document has been prepared by A2A solely for investors and analysts. The information set out herein, including forward looking statement, is current only as at the date of this document and is not intended to give any assurances as to future results and it may be subject to updating, revision, verification and amendment and such information may change materially. A2A is under no obligation to update or keep current the information contained in this presentation, including forward looking statement s and any opinions expressed in them is subject to change without notice. Market data used in the presentation not attributed to a specific source are estimates of the Company and have not been independently verified. The content of this document is of purely informative and provisional nature and the statements contained herein have not been independently verified. This information is given in summary form and does not purport to be complete. Certain figures included in this document have been subject to rounding adjustments; accordingly, figures shown for the same category presented in different tables may vary slightly and figures shown as totals in certain tables may not be an arithmetic aggregation of the figures which precede them. A2A has not authorised the making or provision of any representation or information regarding A2A or its subsidiaries other than as contained in this document. Any such representation or information should not be relied upon as having been authorised by A2A. None of A2A or any of its respective affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoever arising from any use of this presentation or its contents, or otherwise arising in connection with this presentation. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. The information in this presentation is confidential and this presentation is being made available to selected recipients only and solely for the information of such recipients. This presentation may not be reproduced, redistributed or passed on to any other persons, in whole or in part. This presentation is for information purposes only and does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities of A2A or its subsidiaries nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. This presentation does not constitute a recommendation regarding the securities of A2A or its subsidiaries. This presentation and the information contained herein are not an offer of securities for sale in the United States and are not for publication or distribution to persons in the United States (within the meaning of Regulation S under the United States Securities Act of 1933, as amended). This presentation is for distribution in Italy only to "qualified investors" (investitori qualificati), as defined pursuant to Article 100 of Legislative Decree no. 58 of 24 February 1998, as amended and restated from time to time (the Financial Services Act), as implemented by Article 34-ter, paragraph 1(b) of CONSOB Regulation no. 11971 of 14 May 1999, as amended and restated from time to time. This presentation is being communicated in the United Kingdom only to persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and to persons to whom it may otherwise be lawful to communicate it to (all such persons being referred to as relevant persons). Some information contained herein and other material discussed at the meetings may include forward-looking information based on A2 A’s current beliefs and expectations. All statements other than statements of historical fact, contained herein regarding the A2 A’ strategy, goals, plans, future financial position, results of operations future performance and business, projected revenues and costs or prospects are forward-looking statements. Such statements may include, without limitation, any statements identified by the use of terminology such as "anticipates", "believes", "estimates", "expects", "intends", "target", "aim", "may", "plans", "projects", "will", "can have", "likely", "should", "would", "could" and other words and terms of similar meaning or the negative thereof. These statements are based on current plans, estimates, expectations, projections and projects and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors which may not be predicted or quantified or may be beyond the Company’s control include, but are not limited to changes in global economic business, changes in the price of certain commodities including electricity, gas and coal, the competitive market and regulatory factors. Moreover, forward-looking statements are current only at the date on which they are made.
A2A Highlights A2A is the Italy's largest local utility and the most diversified utility among local utilities. Growth oriented multi-utility, delivered industrial and financial value The Group operates throughout Italy, predominantly in Lombardy FINANCIAL HIGHLIGHT Million € 2017 2016 2015 Revenues 5,910 5,093 4,921 Reported EBITDA 1,211 1,231 1,048 LARGEST TERRITORY Ordinary EBITDA 1,135 1,033 1,022 AGGREGATION Group net income 293 232 73 Group ordinary net income 413 377 278 CAPEX 450 349 317 Distributed Dividend 180 153 126 Dividend Yield (%) 4.1 4.2 3.8 Net Capital Employed 6,239 6,415 6,156 Net Financial Position -3,226 -3,136 -2,897 Net Equity 3,013 3,279 3,259 Market cap. (year-end) 4,831 3,853 3,929 Manpower (units) 11,280 13,494 12,083 2017 2017 80 NFP/EBITDA D/E companies 2,7x 1,1 3
2017 Bulletin Board: shaping the future today € M ORDINARY EBITDA CAPEX REVENUES EBITDA +16% +10% -2% +101 5,910 1,135 1,231 1,211 1,033 5,093 450 349 2016 2017 2016 2017 2016 2017 2016 2017 NET FINANCIAL POSITION DPS GROUP GROUP ORDINARY € -226 +90 17% NET INCOME NET INCOME 3,226 3,136 316 2,910 +26% +10% 0.0578 0.0492 413 13 377 77 293 232 2016 2017 Change of 2017 2016 2017 2016 2017 2016 2017 perimeter 2017 ACHIEVEMENTS MARKET NETWORKS GENERATION WASTE ORGANIC Ongoing developments Further expansion Successful participation Solid performance in investments for GROWTH of the free market in the first gas distribution of the generation fleet, treatment plants customer base tender (Milano1) in particular CCGT plants LGH - 12M fully consolidation: Set up of A2A Geographical EXTERNAL Northern Lombardy Multiutility: strong synergies from Rinnovabili and M&A focus: sale of stake GROWTH Start of the partnership project the industrial partnership First step in PV Renewables in Montenegrin EPCG 4
9M 2018 Consolidated Results A2A consolidates the accounts of ACSM-AGAM group on a line-by-line basis, starting from July 1, 2018. The ACSM-AGAM group is the multi-utility company of Northern Italy resulting from the combination of the Como, Monza, Lecco, Sondrio and Varese public utility companies. 5
Shareholding structure listed in Milan Stock Exchange A2A 2017 figures (Borsa Italiana) AT DECEMBER 31, 2017 MARKET CAPITALISATION € 4,831 m 0.8 AT DECEMBER 29, 2017: AVERAGE CAPITALISATION € 4,455 m AVERAGE VOLUMES 9,729,351 25.0 AVERAGE PRICE: 1.422 € /share MAXIMUM PRICE: 1.635 € /share % Tickers: MINIMUM PRICE: 1.232 € /share 49.2 Bloomberg – A2A:IM Reuters – A2.MI NUMBER OF SHARES: 3,132,905,277 25.0 A2A stock is also traded on the following platforms: Chi-X, BATS, Turquoise, Equiduct, Sigma-X, Aquis, BOAT OTC, LSE Europe OTC, BATS Chi-X OTC Indices MUNICIPALITY OF BRESCIA A2A FORMS PART OF THE FOLLOWING INDICES ETHICAL INDICES Municipality of Milan MUNICIPALITY OF MILAN and Brescia: FTSE MIB ECPI Euro ESG Equity MARKET shareholding pact on 42% STOXX Europe Ethibel Sustainability Index Excellence Europe TREASURY SHARES EURO STOXX EURO STOXX Sustainability Index Euronext Vigeo Europe 120 MSCI Europe Small Cap WisdomTree Utilities Solactive Climate Change Index S&P Developed Ex-US Standard Ethics Italian Index Moreover, A2A has been included in the Ethibel Excellence Investment Register and in the Ethibel Pioneer Investment Register. 6 Note: At December 31, 2017
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