Q1 2023
RESULTS
May 11th, 2023
Key Highlights
EBITDA on track with
full-year guidance,
driven by the
recovery of the
Market BU's
profitability despite
severe volumes
contraction
Organic growth, | Effectiveness in | ||
extracting value | |||
led by strong | |||
from M&A | |||
investments, | The recent rating | FY 2023 Guidance | |
transactions | |||
offset by inflation | upgrade validated | confirmed | |
still not captured | the continuous | ||
in tariffs | financial discipline |
2 | HIGHLIGHTS | E SG | K E Y | N E T W O R K S | W A S T E | E NE RGY | M A R K E T | E BITDA - | NF P | CLOSING | ANNEXES |
F I NANCIALS | NE T P ROFIT | RE MARKS | |||||||||
On track on all sustainable key indicators
Green transition | Local presence |
Service quality
Carbon | On track | ||||
Intensity | gCO2/kWh 305 | 301 | |||
Q1 '22 | Q1 '23 | ||||
Material | 237 | On track | |||
recovery in | Kton | ||||
Iren's plants | 165 | ||||
Q1 '22 | Q1 '23 | ||||
Biomethane | 2,2 | On track | |||
from waste | Mcm | ||||
1,3 | |||||
Q1 '22 | Q1 '23 |
Sorted waste | On track | |||
collection | ||||
69% | 70% | |||
Q1 '22 | Q1 '23 | |||
DH volumes | 102 | |||
Mcm 99 | On track | |||
Q1 '22 | Q1 '23 |
Rebuilding | 60 | On track | |||
projects | €M | 45 | |||
(EPC value) | |||||
Q1 '22 | Q1 '23 |
Physical | ||
Stores' | # | 9.7 |
Customer | 9.4 | |
Satisfaction | ||
Index | ||
Q1 '22 | Q1 '23 | |
Districtization
activities on water
cycle 61%65%
Q1 '22 | Q1 '23 |
Water
withdrawals l/inhabit/day
262
250
Q1 '22 | Q1 '23 |
On track
On track
On track
3 | MAIN | E SG | E BITDA | NE TWORKS | WASTE | E NE RGY | MARKET | E BITDA - |
ACHIEVEMENTS | NE T P ROFIT | |||||||
NF P | CLOSING | 2 0 22 |
RE MARKS | OUTLOOK | |
ANNEXES
Market profitability recovery offset by severe energy volumes contraction
(€M) | Q1 '22 | Q1 '23 | Δ | Δ% | |
Revenues | 2,186 | 2,020 | -166 | -7.6% | |
EBITDA | 363 | 368 | 6 | 1.6% | |
EBIT | 225 | 210 | -15 | -6.5% | |
Group net profit | 118 | 135 | 17 | 14.6% | |
Gross investments | 378 | 265 | -113 | -29.8% | |
Net Financial Position | 3,347* | 3,716 | 369 | 11.0% | |
* FY 2022 |
EBITDA EVOLUTION
+2% | ||||||
(€M) | 363 | 1 | 3 | 32 | 368 | |
-31 | ||||||
Q1 '22 | Networks | Waste | Energy | Market | Q1 '23 |
Market BU recovery | Energy volumes | Organic growth | Emerging costs & | |
-34€M | SEI Toscana | |||
+6€M | others | |||
+37€M | consolidation | -11€M | ||
+7€M | ||||
4 | HIGHLIGHTS | E SG | K E Y | N E T W O R K S | W A S T E | E NE RGY | M A R K E T | E BITDA - | NF P | CLOSING | ANNEXES |
F I NANCIALS | NE T P ROFIT | RE MARKS | |||||||||
NETWORKS | RAB expansion offset by inflation-impacted operational costs |
NETWORKS |
+2% | GROSS CAPEX | ||||||
(€M) | +31% | ||||||
1 | 0 | 0 | 96 | ||||
95 | 83 | ||||||
64 | +12% | 10 | |||||
9 | 19 | ||||||
+52% | |||||||
13 | |||||||
42 | +28% | 54 | |||||
(€M) | |||||||
Q1 '22 | Q1 '23 | ||||||
Water | Electricity | Gas | |||||
Q1 '22 | Water | Electricity | Gas | Q1 '23 | RAB | ||
- 7% RAB expansion led by Water and Electricity businesses
- Higher operational costs due to inflation, which will be recovered in tariffs in the coming years
- +31% investments increase mainly linked to wastewater revamping and the modernisation of Gas and Electricity networks
+7% | ||||||
2,558 | 2,739 | |||||
724 | +2% | 742 | ||||
502 | +8% | 543 | ||||
1,332 | +9% | 1,454 | ||||
(€M) | ||||||
FY '22 | Q1 '23 |
- Consolidation in Water networks underway (AMTER, Acquaenna)
Water Electricity Gas
5 | HIGHLIGHTS | E SG | K E Y | N E T W O R K S | W A S T E | E NE RGY | M A R K E T | E BITDA - | NF P | CLOSING | ANNEXES |
F I NANCIALS | NE T P ROFIT | RE MARKS | |||||||||
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Disclaimer
IREN S.p.A. published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 May 2023 07:26:09 UTC.