Slide 1: Preliminary Results FY 2022
A leading Italian Energy S.p.A energy storage advanced Preliminary Results FY 2022 system integrator January 2023
Slide 2: Today's Speakers
TODAY’S SPEAKER S Davide Tinazzi Daniele Manfroi Co-Founder and CEO CFO PhD in Engineering, Master in Project and MBA, Degree in Business Management, Innovation Management post-graduate Master Former Project Manager in Environmental Management in the field of nanotechnology Former Auditor in
Slide 3: Energy: mitigating climate change through green energy transition
ENERGY We give every individual, family or business, the tangible opportunity to mitigate climate change and actively contribute to the green energy transition. Everyone can reduce the emissions of CO2 by maximizing the self production of electricity, also contributing to the grid stability. 3
Slide 4: FY 2022 Preliminary Highlights
FY 2022 PRELI MI NAR Y HI G HL I GTS Established in 2013, Energy S.p.A. («Energy») is an advanced system integrator of Energy Storage Systems (ESS), both for residential use (Small&Large: <50kW ESS) and for larger scale applications (Extra Large: >50kW+ ESS). The company sources components from lead
Slide 5: Product Offering
PR ODUCT OFFER I NG Energy’s product range includes a range of inverters, developed, and produced according client’s specifics and marketed under the “zeroCO2” brand SMALL&LARGE ESS EXTRA LARGE ESS zeroCO2 SMALL zeroCO2 LARGE zeroCO2 SUN CHARGER zeroCO2 EXTRA LARGE Hybrid single-phase inverter H
Slide 6: Global Energy Storage Market
GLOBAL ENER G Y STOR AG E MARKET The global storage market is growing at unprecedented pace, it is expected to grow at a CAGR2021-2030 of c. 33%. It will reach a cumulative 358GW/1,028GWh by 2030, more than twenty-fold the 17GW/34GWh capacity online at the end of 2020, attracting $262 billion in inv
Slide 7: Preliminary 2022 Financial Results and Guidance 2023E-2024E
PR EL I MI NAR Y 2 0 2 2 FI NANC I AL R ES U L TS AND G U I DANC E 2 0 2 3 E -2024E FY 2022 Guidance 2021 KEY HIGHLIGHTS Preliminary Results* 2023E-2024E Revenue Guidance 2022 fully achieved registering a YoY growth of +147% thanks to: Consolidation of relationships with existing clients in EUR
Slide 8: Energy is Delivering Exceptional Growth
ENERGY I S DEL I VER I NG EXCEPTI ONAL GROWTH High revenues growth Fast ramp-up in profitability Solid financial position Revenues (EUR m) EBITDA (EUR m) Net Debt (EUR m) 10.0% 10.3% 20.2% >20% 54.1% 62.5% 153.8% 147% 0.7x 126 10,1 1.0x 1.7x 0.3x 51,5 3,5 10,4 2,9 20,3 1,2 12,5 2,1 1,2 2019 2020 202
Slide 9: Strategic Achievements (1/2)
Strategi c Achi e v e me nt s (1/2) Supply and Manufacturing: Insourcing of the assembly to strengthen the control and proximity of the supply chain 2022 ACHIEVEMENTS Transfer in the new plant of 9,100 sqm Acquisition of a new space of +11,000 sqm (Eur 1,1 m) Hiring of n. 23 people in 2022, wi
Slide 10: Strategic Achievements (2/2)
Strategi c Achi e v e me nt s (2/2) Go to Market: Retain the Italian market share while expanding export sales Be the first mover in the XL systems segment with still low competition 2022 ACHIEVEMENTS Consolidated relationships with existing clients in Italy and abroad in the Small&Large segme
Slide 11: Production facilities
Producti on faci l i t i e s Energy’s new production and office facilities located near Padua (c. 9,000 sqm) allow to achieve the full-scale production of Extra Large ESS. In H2 2022, Energy acquired an additional production area of 11,000 m sqm close to the existing plant for a total of c. 20,000 s
Slide 12: IPO and Share Price
I PO and Share Pri ce Energy Share Price (Eur) Start of Trading August 1st 2022 2,90 IPO Size c. €30 m (including GS 10% of the Offer) 2,80 2,70 Price per Share @ IPO €2.40 2,60 Free Float 13.6%* (excluding RPS SpA 6,67% ) 2,50 Primary/ Secondary 90% Primary 2,40 2,30 IPO Size Primary: c. €27.3 m /
Slide 13: Q&A
13 Q&A ene
Slide 14: Energy: A Compelling Equity Story
ENER G Y: A COMPELLI NG EQUI TY STOR Y UNIQUE PRODUCT OFFERING STRATEGIC MARKET POSITIONING SOLID AND COMMITTED SUPPLIERS’ RELATIONSHIP ATTRACTIVE STRATEGY STRONG FINANCIAL AND GROWTH PERFORMANCE BEATING MARKET RATES 14 Strictly confidential
Slide 15: Thanks
THANKS Strictly confidential
Slide 16: Appendix
— APPENDIX = EnEIOL! 16
Slide 17: Shareholding and Governance
SHAR EHOLDI NG AND G OVER NANCE Energy was founded in 2013 by Davide Tinazzi and Andrea Taffurelli, with the financial support of the Ghirlanda family (through their company Euroguarco) and Mrs. Hongwu Sun. Shareholding N. Shares N. PAS Tot. Shares % on share capital Board of Directors - A. Granuz
Slide 18: P&L Statement
P&L STATEMENT P&L (EUR M)* 2019A % 2020A % 2021A % 1st H2021A % 1st H 2022A % REVENUES 12.5 100,0% 20.3 100,0% 51.5 100,0% 17.5 100,0% 53.3 100,0% CAPITALIZED EXPENSES 0.3 2.2% 0.4 1.9% 0.0 0.1% - 0.0% - 0.0% RAW MATERIALS (9.9) (79.3%) (16.2) (79.7%) (38.2) (74.2%) (12.9) (73.7%) (36.1) (67.7%) SER
Slide 19: Balance Sheet Statement
BALANCE SHEET STATEMENT Balance sheet (EUR M)* 2019A 2020A 2021A 1st H 2022A Intangible fixed asset 0.5 0.7 0.5 3.3 Tangible fixed asset 0.0 0.0 0.0 0.2 Financial asset 0.0 0.0 0.1 0.2 Net Fixed asset 0.5 0.7 0.6 3.8 Inventory 1.8 4.8 5.3 8.0 Trade receivables 0.7 2.8 9.7 24.9 Trade payables (0.5) (
Slide 20: Cash Flow
CASH FLOW Cash flow (EUR m)* 2019A 2020A 2021A 1st H 2022A EBIT 1.1 1.8 10.1 14.6 Income taxes (0.2) (0.4) (2.6) (3.8) Depreciation and amortization 0.2 0.3 0.3 0.1 Change in trade NWC (0.2) (4.1) (7.1) (17.4) Change in other assets (liabilities). Severance indemnity funds and 0.1 0.7 0.3 0.1 others