Financial Results 2023
Harry Sachinis
CEO
25 th of April 2024
Yliki Reservoir
We improved our financials by increasing turnover and reducing operating costs
Turnover
2.4%
€ 343.5 mn | € 351.5 mn |
2022 | 2023 |
Increased turnover by 2.4%. Increased revenue by €8 million from the main activities (water supply and sewerage)
Operating cost
-1.8%
€ 335.8 mn | € 329.8 mn | |||
2022 | 2023 | |||
Reduced | operating | costs | by |
approximately € 6 million mainly due to the reduction of electricity costs by 26% (-€11.5 million) and employee salaries and expenses by 3% (-€3.4 million).
Costs were negatively affected by the increase in provisions by €12.1 million (+112%)
Profit before tax
163%
€ 10.6 mn | € 28 mn. |
2022 | 2023 |
After the effect of financial income expenses, Profits Before Taxes showed an increase of 163%
Dividend distribution:
0.10 euros
Accelerating growth - Strengthening resilience
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We have established the foundations for sustainable development
Exclusive concession for | New Regulatory Framework | Tripled Investments |
the next 17 years | ||
EYDAP renewed the exclusivity | The Regulated Asset Base | EYDAP's strategic investments |
framework expected to be | amounting to 2.1 billion euros are | |
for the provision of services and | ||
activated in Q3 2024 and will | aimed at the continued provision | |
ensured stable prices for raw | ||
provide predictability and | of excellent quality services and | |
water. | ||
stability in revenue and | at strengthening its future | |
recovery. | Regulated Asset Base. |
ΕSG Upgrade
Improved ESG ratings across all existing rating agencies, with S&P rating EYDAP higher than 69% among the 79 industry companies rated globally. EYDAP is committed to zero carbon water by2030.
Support to
and by Consumers
- Provides one of the cheapest
water tarriffs worldwide according to Global Water Intelligence
- We have the highest satisfaction rate compared to all other utilities.
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We enhance our flexibilities for growth
The law to be voted on this week, regarding climate change also contains favorable regulations for EYDAP in matters such as:
Carrying out operation and maintenance activities outside Attica for water supply and sewage networks and facilities,
Ability to acquire control of businesses in related industries,
Flexibilities for development in RES and reuse of recycled water,
Simplification of procedures for assigning the maintenance, operation and upgrading of the External Water Supply System to EYDAP
Potential of assigning to EYDAP the cleaning and maintenance of storm drains.
4
We have tripled investments since 2019…
Planned Investments 2.1 billion in the decade
Eastern Attica Projects - 90% of the projects have been funded by the EU | ~ 958 million € |
Water supply projects (upgrades of networks and facilities, smart meters, etc.) | ~ 681 million € |
Sewage projects (upgrades of networks and facilities, etc.) | ~ 365 million € |
New Building, digital governance and energy projects | ~ 104 million € |
Integrated Investments ( thousand €)
204.486 | ||||||||
81.608 | ||||||||
14.061 | 14.636 14.169 | 19.554 | 18.343 | 31.902 | 44.274 | |||
2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
...and we will quintuple them in 2024 5
We are changing Eastern Attica and....
We build | We operate |
3
Eastern Attica
Western Attica
...we are upgrading Western Attica
6
We are organizing a progressive action plan against climate change….
1 PHOTOVOLTAIC 1.97 MWH
NEW
PHOTOVOLTAIC
PUMP SAVING
6 HYDROELECTRIC 4,650 KWH
NEW HYDROELECTRIC
OPTIMIZING THE EFFICIENCY OF
PUMPING STATIONS
ELECTRIC FLEET | BIOCLIMATIC BUILDING | |
SMART | BIOGAS |
NETWORK | |
HADRANIAN AERIVER FOR | |
IRRIGATION OF URBAN GREEN | POWER GENERATION |
REPLACEMENT OF NETWORKS | |
FOR LEAK REDUCTION |
SAVERS
Optimum use of
water...
FUEL FOR THE
CEMENT INDUSTRY
5 NEW WWTP WITH RECYCLED WATER PRODUCTION
HYDROELECTRIC STATION IN PSITTALIA
REVIVAL TO REDUCE TEMPERATURE AND ENERGY CONSUMPTION IN ATHENS
….with a zero carbon
footprint
RECYCLED WATER FOR IRRIGATION
RECYCLED WATER FOR INDUSTRIAL USE
AND HYDROGEN PRODUCTION
SUBMISSION
NEW PROJECTS
WATER
ENERGY
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...and a potential water shortage
SHORT TERM PLAN
MID TERM PLAN
LONG TERM PLAN
Pumping from the Yliki branch with the operation of the Mavrosouvala wells and the pumping stations of the Yliki branch.
Increase in the pumping of the Yliki branch and activation of wells of the Middle River Voiotikos Kifissos which, through the connecting Aqueduct of Distomo, feed Mornos Aqueduct.
Alternative solutions such as desalination, enrichment of the underground aquifer with recycled water and connection to other water reservoirs are already being considered.
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Improving the experience of our consumers... ...
Preference for direct water supply from EYDAP by 62% than by Municipalities ( vs 29%, 2019)
Overall customer satisfaction 75%
Overall satisfaction regarding digital services more than 80%
Net Promoter Score +32
1 out of 2 would recommend the Company
57% choose digital channels to pay their bills ( vs. 34%, 2019)
Overall consumer satisfaction regarding EYDAP's services, in comparison to other utilities, is significantly higher by 14 to 22 percentage points.
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* Customer satisfaction survey November-December 2023
...and we are committed to increasing the value for all Shareholdersers
New regulatory framework to ensure stability and predictability of revenues
20-year exclusive concession Rapidly growing investor base
ESG Ratings upgrade
Commitment to achieve Net Zero
30 , 89 | 50% | |
Effective governance: One Ministry - One | ||
Regulator | % | +1share |
Stable management team
Will of the state for development and expansion
of the Company's area of competence
Strong unlevered balance sheet with cash of
approximately € 325mn.
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Eydap SA - Athens Water Supply & Sewage Co. published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 18:24:06 UTC.