IREN

PRESENTATION

EXANE EVENT

21st April 2021

FY 2020 A year of growth despite the pandemic

m€

Revenues

Ebitda

Ebit

Group net profit

Tech. Capex

PFN

KPIs

EBITDA BRIDGE (m€)

FY '19

FY '20

Δ%

+1.1%

+5.7%

4,275

3,725

-550

-12.8%

927

917

927

10

1.1%

917

858

14

15

46

1

907

20

452

416

-36

-8.0%

(59)

(27)

236

235

-1

-0.4%

524

685

161

30.7%

2,706

2,948

242

8.9%

FY '19 One off '19

Networks

Waste

Energy

Market

Others

One off '20 FY '20

  • Revenues -12.8%: decrease mainly in the energy value chain caused by lower volumes and prices and strategic choices in market BU
  • Ebitda +1.1%: Positive results leveraging on clients' portfolio margins normalization, organic growth and consolidation despite a difficult scenario affected by Covid for 15 m€ and a negative impact from regulation of 10m€.
  • Ebit -8.0%: higher depreciations and provisions to bad debt due to the emergency partially offset by a release of a provision fund for 19m€
  • Group net profit -0.4%: reduction in the cost of debt and a temporary lower tax rate
  • Tech. Capex +30.7%: strong capex plan following business plan assumptions.

2

FY 2020 Main 2020 takeaways and 2021 guidance

MAIN FY 2020 TAKEAWAYS

  • Ebitda increase despite pandemic and several positive one-offs reported last year
  • Negative Covid impact on Ebitda: 15m€
  • M&A activism confirmed
  • Investment plan confirmed
  • Dividend proposed to AGM of 9.5 €c/share (+2.7% vs 2019)

2021 EXPECTATIONS

Organic growth leveraging on further capex acceleration

Energy scenario: recovery in volumes and prices

Integration of consolidated companies

COVID impacts on:

  • Ebitda impact not more than 10m€
  • Net working capital around 40m€ (from 60m€ in FY2020)
  • Credit losses up to 10m€

In light of the previous elements, we provide the following FY 2021 guidance

GUIDANCE ON 2021

  • Ebitda: 960/970m€
  • NFP/Ebitda: ̴3.4x
  • Capex: ̴800m€

3

BP@2025 Strengthening our local leadership…

W e c o n t i n u e t o a c t i n o r d e r t o i m p r o v e o u r l e a d i n g p o s i t i o n a s

m u l t i - b u s i n e s s o p e r a t o r i n o u r r e f e r e n c e a r e a s

3 r e f e r e n c e r e g i o n s w i t h m o r e t h a n 7 million

inhabitants s e r v e d

G e o g r a p h i c e x p a n s i o n t h a n k s t o M&A

t r a n s a c t i o n s

4

BP@2025 … to go national

1 s t n a t i o n a l p l a y e r i n

C o r e p l a p l a s t i c s s e l e c t i o n a n d i n p l a s m i x t r e a t m e n t

T o p o p e r a t o r f o r t h e w i d e s t

r a n g e o f h i g h v a l u e - a d d e d

1 s t o p e r a t o r i n d i s t r i c t

p r o d u c t s

a n d s e r v i c e s s o l d

h e a t i n g

t o

o u r c l i e n t s

T h e c u r r e n t n a t i o n a l l e a d e r s h i p i n s p e c i f i c a c t i v i t i e s m a k e s u s c o n f i d e n t i n

s c a l i n g u p o u r s i z e i n s o m e v e r t i c a l b u s i n e s s s e c t o r s

WASTE

CLIENTS

ENERGY EFFICIENCY

5

Questo è un estratto del contenuto originale. Per continuare a leggere, accedi al documento originale.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

IREN S.p.A. published this content on 07 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2022 10:11:08 UTC.