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Risultati 2013 E Business Plan 2014-2018

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Risultati 2013 E Business Plan 2014-2018 ACEA GROUP 2013 Results Business Plan 2014-2018 Agenda Acea Group description 3 2014-2018 Business Plan highlights • Environment 5 • Energy 10 • Water 15 • Grids 22 • Corporate 29 • Acea Group 31 Business Plan Key Takeaways 35 Closing remarks 37 APPENDIX 2013 Results 40 9M2013 Results 50 1H2013 Results 52 2012 Results 54 Acea Group description: an Integrated Multi-Utility ACEA Group Acea is one of the leading Italian multi-utilities. The company engages in the development of grids and services in the water, energy and environmental sectors. Founded in 1909, ACEA has been listed on the Italian Stock Exchange since 1999. The City of Rome is the largest shareholder. Group Structure Shareholder Structure ENVIRONMENT ENERGY WATER 18.15% 100% Acea Risorse e 100% Acea Energia Holding 96% Acea Ato2 Impianti per 100% Acea Energia l’Ambiente 100% Acea Produzione 94% Acea Ato5 2.02% 99% Sarnese Vesuviano 37% Gori 88% Acquaser 100% Crea Gestioni 51.00% 100% Acea8cento 50% Ecomed 40% Umbra Acque 16.35% 85% Ombrone 40% Acquedotto del Fiora GRIDS OTHER SERVICES 69% Acque Blu Arno Basso 100% Acea Reti e Servizi 45% Acque 12.48% Energetici 100% Laboratori 69% Acque Blu Fiorentine 50% Acea Distribuzione 40% Publiacqua City of Rome 51% Ecogena 49% Acea illuminazione Suez Environnement Company SA (held through Ondeo Italia) Pubblica 35% Intesa Aretina Caltagirone Group 46% Nuove Acque 50% Acea Illuminazione Norges Bank Pubblica 1% Ingegnerie Toscane Other 50% Acea Distribuzione 25% Consorcio Agua Azul Source: CONSOB (March 2014) 51% Aguazul Bogotà 100% Acea Domenicana 3 Acea Group description: Main Business Units ACEA Group A leading player in the Italian market ENVIRONMENT Acea ranks fifth in Italy for waste treated, with over 700,000 tons in 2013. In the same year, the waste-to- energy plants produced over 200 GWh of electrical energy. Acea is committed to investing in waste-to- energy and organic waste treatment products with the aim of using waste to produce energy, biogas and compost and thereby benefit the environment. ENERGY Acea is one of the main Italian energy players with about 13 TWh of electricity sold in 2013 to about 1.5 million customers. Acea trades a similar amount of electricity for the benefit of its customers and for the internal consumption of the companies in the Group. To support its customers’ operations, Acea has its own call center. Moreover, Acea owns and operates 7 hydroelectric power plants (122 MW) and three thermo/cogen plants (243 MW). WATER In 2013, the water service division sold 565 million m3 of potable water to nearly 9 million customers. Acea is the leading operator in Italy, managing integrated Water Systems in the province of Rome and other parts of Lazio, Tuscany, Umbria and Campania Acea is at the leading edge in engineering, procurement, construction and management of integrated water services, as well as carrying out multiple and daily laboratory analyses, thanks to the expertise in network management acquired in over a century. Acea has also been active for many years in Latin America countries, providing water management services. GRIDS Acea is the third operator in Italy, distributing about 11 TWh of energy in the city of Rome, serving 1.6 million customers. Acea is promoting the field application of the smart grid and e-mobility through the implementation of highly innovative pilot projects, qualified by Italy’s Electricity and Gas Authority. Acea manages public lighting and floodlighting with over 204,000 lighting points distributed over an area of 1,500 km 2. Moreover, Acea is engaged in several energy efficiency projects. 4 2014-2018 Business Plan highlights Environment Energy Water Grids Corporate Acea Group 5 Geographical footprint of companies Environment The geographical and operational footprint of companies in the Environment business unit is concentrated in the three regions in central Italy: Umbria, Lazio and Tuscany Impianto di Compostaggio – Samace Comune di Sabaudia 6 Target Environment Potential developments in the Environment business Acea is one of the main operators in the Italian market for the industrial treatment of waste The aim of the Development Plan is to grow the business and become the number 3 operator in Italy by 2018 Volumes 3,329 of waste treated (/000 tons) Growth targets • no. 3 operator 2,457 • 1.4m tons per year 1,076 954 670 84 Hera A2A LGH Iren Acea ACSM 2012 data Growth strategy Completion of Consolidation in regions M&A to achieve initiatives already served with the /consolidate growth in approved upgrade/new construction other regions of of plants central and northern Italy 7 Target and results Environment REVENUES (€m) No. 3 OPERATOR IN ITALY 207 by volume of waste treated (1,421 Ktons/year) 168 of which 75% in the Lazio region 115 Waste to energy: 600 GWh/year (equivalent to annual consumption of approx. 200,000 households) 2013 2016 2018 EBITDA CAGR: 16.0% (€m) CAPEX IN THE NEXT 5 YEARS: €246m of which Lazio region €205m 2018 INVESTED CAPITAL: €307m 101 81 2018 EBITDA: €101m 48 2018 pre-tax ROIC: 20.0% 2013 2016 2018 VOLUME OF WASTE TREATED (/000 tons) NET DEBT (€m) 263 1,421 243 185 1,040 726 8 2013 2016 2018 2013 2016 2018 Incentive schemes Environment The disposal of urban waste through the production of energy confers the right to benefit from incentives in recognition of the electricity produced. In 2012 a new incentives scheme based on feed-in tariffs (1) was introduced. For the plants in the Environment BU this system involves the following sums: Type of plant Feed-in tariff Biogas plantsof up to 1 MW 178 €/MWh Biogas plantsof between1 and 5 MW 125 €/MWh WTE plants> 5 MW 125 €/MWh (1) Legislative Decree 28 of 3 March 2011 , “implementing Directive 2009/28/EC promoting the use of renewable energy sources, amending and subsequently abrogating directives 2001/77/EC and 2003/30/EC ” 9 2014-2018 Business Plan highlights Environment Energy Water Grids Corporate Acea Group 10 Plants operated by Acea Produzione Energy Type of Capacity Average hist. plant (MW) Prod. (GWh) 1 S.Angelo reservoir 58.4 150 run-of-river Thermoelectric plants 2 Salisano 24.6 170 (potable water) Hydroelectric plants 3 G.Marconi (Orte) run-of-river 20.0 56 4 A. Volta (Castel Madama) run-of-river 9.4 22 3 2 5 G. Ferraris (Mandela) run-of-river 8.5 14 1 4 5 8 run-of-river 9 7 6 Cecchina mini-hydro 0.4 1.6 10 11 (potable water) 6 run-of-river 7 Madonna del Rosario mini- (potablewater) 0.4 1.6 hydro The Montemartini plant , in its TOTAL HYDRO 121.6 415.2 actual configuration, is recognised by Terna as one of the Essential 8 Tor di Valle Gas-fired CCGT 125.7 n/a Units for National Electricity Security and has the role of 9 Tor di Valle Gas-fired CHP 19.3 n/a guaranteeing the black start and supply of certain strategic areas of Oil-fired 10 Montemartini 78.3 n/a national importance (the black thermo start of the city of Rome) 3.6 (Mwe) 6 (GWhe) 11 Gas-fired CHP 9 CHP Plants 16 (MWt) 18 (GWht) TOTAL THERMO 242.9 24 11 Target Energy Growth hypotheses: Acea Produzione INTERNAL GROWTH STRATEGY Strategic guidelines Completion of plan to modernise and improve efficiency of power plants operated by Acea Produzione Strategic guidelines: Acea Energia OPERATING EFFICIENCY AND OPTIMISATION OF RETAIL BUSINESS 102.2 Electricity Sales (TWh - wholesalers and end users) Free Market Enhanced ACEA is #3 considering Protection Market only end users • Increase customer • Implementation of base in mass and 32.6 31.8 a new CRM small business 23.7 system, launch of a markets 13.4 12.1 social platform, 9.5 • Increase mass development of market gas new functions for customers self-service • Expand outside Enel Edison Eni A2A Acea Iren Hera channels and Rome improvement of • Contain churn rate 2012 data billing processes • Develop energy and systems management business 12 Target and results Energy RETAIL REVENUES (€m) • Stengthen customer base and grow gas market presence • Improve customer service – new CRM, new contact channels, new 2,387 2,312 billing systems, with the aim of entering the AEEGSI’s Top Ten for 2,203 service quality PRODUCTION • Invest in modernising hydroelectric plants and create a 2013 2016 2018 cogeneration hub (urban heating) in the city of Rome EBITDA CAGR: 5.0% (€m) CAPEX OVER THE NEXT 5 YEARS: €159m 116 of which Lazio region €159m 100 • Rome&Province €143m 91 2018 INVESTED CAPITAL : €609m 2018 EBITDA: €116m 2018 pre-tax ROIC: 10.1% 2013 2016 2018 NUMBER OF CUSTOMERS (/000) Gas 1,516 NET DEBT (€m) 1,471 1,500 387 335 Free Market 297 Enhanced Protection Market 13 2013 2016 2018 2013 2016 2018 Incentive schemes Energy Production: • Green certificates : termination of the mechanism based on certificates in 2015 and replacement with a feed-in tariff mechanism. • EU ETS (CO2): a flattening of prices caused by a long position in the ETS market 2013 2014 2015 2016 2017 2018 2019 2020 Energy scenario FWD FWD FWD FWD FWD FWD FWD FWD Oil $/Bbl 108.4 100.6 99.1 94.3 93.3 92.3 91.3 90.3 PUN €/MWh 63.4 66.0 64.8 64.6 65.7 65.8 68.3 70.0 CleanSparkSpread CCGT €/MWh -5.1 2.5 3.0 3.5 4.0 5.0 6.0 7.0 Green certificates €/MWh 79.3 81.3 82.4 Compulsory 5.0% 2.5% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% quota % Feed-in tariffs €/MWh 76.0 73.8 73.5 69.1 67.6 RepurchasebyGSE €/MWh 80.3 87.0 87.1 €/tons of EU-ETS 3.8 4.5 5.3 6.0 7.8 9.5 11.3 13.0 CO2 14 2014-2018 Business Plan highlights Environment Energy Water Grids Corporate Acea Group 15 Acea’s positioning: Italian market shares Water 10.000 16,00% I PlayersPlayers del in the Mercato Italian waterIdrico market Italiano 9.000 8.673 SharesQuote
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