Ameresco, Inc. · NYSE:AMRC
Ameresco — Q3 2023 Earnings Presentation
13 slides from Ameresco's earnings presentation, Nov 6, 2023
Slide 1: Q3 2023 Supplemental Information
Q3 2023 Supplemental Information November 6, 2023 ameresco.com © 2023 Ameresco, Inc. All rights reserved.
Slide 2: Safe Harbor
Safe Harbor Forward Looking Statements Any statements in this presentation about future expectations, plans and prospects for Ameresco, Inc., including statements about market conditions, pipeline, visibility and backlog, as well as estimated future revenues, net income, adjusted EBITDA, Non-GAAP EP
Slide 3: Sources of Revenue – Q3 2023
Sources of Revenue – Q3 2023 $242.7M $67.1M $25.4M Projects Recurring Other Energy efficiency and Energy & incentive revenue Services, software and renewable energy projects from owned energy assets; plus integrated PV recurring O&M from projects 3
Slide 4: 71% of Adjusted EBITDA Came From Recurring Lines of Business
71% of Adjusted EBITDA Came From Recurring Lines of Business Year to Date 2023 * Adjusted EBITDA percentages allocate corporate expenses according to revenue share Other Other 22% 8% 71% O&M 5% Recurring O&M Recurring 7% Projects 7% 24% Assets $108M 15% $933M Adjusted Revenue EBITDA* Projects 70% As
Slide 5: Energy Asset Portfolio – 9/30/2023
Energy Asset Portfolio – 9/30/2023 Ameresco’s Ownership Biogas: Non-RNG 21% Biogas: 24% Biogas: RNG 10% Operating Energy Assets Solar: 34% Energy in Development Assets & Construction, 444 MWe Solar: 64% 596 MWe Battery: 41% Other: 5% EaaS*: 0% 444 MWe of Energy Assets in operation. 645 MWe of total
Slide 6: Energy Asset Balance Sheet – 9/30/2023
Energy Asset Balance Sheet – 9/30/2023 Operating $0.74B Energy Debt Energy Total $1.1B Assets Debt $1.7B $1.4B Development/ Construction $0.91B Corporate Debt $0.3B $0.9B of the $1.7B energy assets on our balance $1.1B of the $1.4B* of total debt on our balance sheet is sheet are still in developmen
Slide 7: Tremendous Forward Visibility: Backlog & Recurring Revenue Business
Tremendous Forward Visibility: Backlog & Recurring Revenue Business Awarded Project Backlog ~ 12-24 months to contract $2.5 billion Contracted Project ~ 12-36 months of revenue $1.2 billion Backlog Operating Energy 14 year weighted average Additional Estimated Revenue $2.3 billion Assets PPA remaini
Slide 8: Sustainable & Profitable Business Model
Sustainable & Profitable Business Model Expected to Expand Earnings at a Faster Rate than Revenue by Growing Higher Margin Recurring Lines of Business FY 2023 guidance, as adjusted November 6, 2023 Revenue ($M) Adjusted EBITDA ($M) 5 YEAR 2023 Guidance CAGR 22.4% • High-End 11.7% CAGR • Low-End 10.8
Slide 9: Enabling a Low Carbon Future
Enabling a Low Carbon Future Since 2010, Ameresco’s renewable energy assets & customer projects delivered a Carbon Emission Reduction equivalent to: 95+ Million Metric Tons of CO 2 Ameresco’s 2022 Carbon Emission Reduction of approximately 14.7M Metric Tons of CO2 is equal to one of… Greenhouse gas
Slide 10: Thank You
Thank You to Our Customers, Employees, and Shareholders ameresco.com © 2023 Ameresco, Inc. All rights reserved.
Slide 11: Non-GAAP Financial Measures
Non-GAAP Financial Measures We use the Non-GAAP financial measures defined and discussed below to provide investors and others with useful supplemental information to our financial results prepared in accordance with GAAP. These Non-GAAP financial measures should not be considered as an alternative
Slide 12: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Adjusted EBITDA: Net income attributable to common shareholders $ 21,265 $ 27,391 $ 28,735 $ 76,991 Impact from redeemable non-controll
Slide 13: GAAP to Non-GAAP Reconciliation (continued)
GAAP to Non-GAAP Reconciliation (continued) Nine Months Ended September 30, 2023 Operating $000 USD Projects Assets O&M Other Consolidated Adjusted EBITDA: Net income (loss) attributable to common shareholders $ 12,114 $ 11,659 $ 3,820 $ 1,142 $ 28,735 Impact from redeemable non-controlling interest