Innovatec Spa · MIL:INC
Innovatec Spa — Investor Presentation (May 2024)
27 slides from Innovatec Spa's investor presentation, May 21, 2024
Slide 1: Innovatec Group Company Presentation – Financial Gala 2024
INNOVATEC GROUP TOWARDS A CLEANER FUTURE, TOGETHER COMPANY PRESENTATION FINANCIAL GALA 2024 INNOVATEC GROUP 21 May 2024
Slide 2: Company Presentation agenda
INNOVATEC GROUP COMPANY PRESENTATION 01 INNOVATEC IN ACTION 02 OUR PLAN TOWARDS SUSTAINABILITY 03 MARKET OVERVIEW 04 FINANCIAL PLAN 2024 - 2026 05 GOVERNANCE AND STOCK DATA
Slide 3: Innovatec a lead player in the clean tech industry
INNOVATEC A LEAD PLAYER IN THE CLEAN TECH INDUSTRY Vision Shaping the future towards an alternative, sustainable development model to help Corporate, Communities & People to embrace sustainability and reduce environmental footprint Mission Diversification and integration of innovative end-to-end sol
Slide 4: Business units to cover all cleantech value chain
INNOVATEC: 2 BUSINESS UNITS TO COVER ALL CLEANTECH VALUE CHAIN Innovatec’s offering address Corporate, People, Communities and PA’s with a 360° degrees offering portfolio to cover circularity and energy needs to enable the path toward sustainability BU Environment & Circular economy Innovatec S.p.A
Slide 5: 2023 vs 2026 plan: relaunch opportunity
2023 vs 2026 PLAN: RELAUNCH OPPORTUNITY 500€M REVENUES Data in €M 13,4% 13,9% 11,2% 12,0% EBITDA margin 66€M EBITDA 14% EBITDA MARGIN REVENUES (‘23-‘26) CAGR 22% EBITDA 478 332 289 66(‘23-‘26) CAGR CAPEX +77€M 216 40 23% 32 29 HR (+137 to 2026) 2022 2023 2024P 2026P NFP TO ZERO Leverage available fo
Slide 6: 2023: a transition year
2023: A TRANSITION YEAR….. - + SLOWDOWN IN INDUSTRIAL PRODUCTION ECOBONUS 110% EXTRA COSTS FULLY STOP & GO IN ECOBONUS 110% ABSORBED The decrease on revenues, margins and cash generation was only partially offset by the positive performance of the remaining businesses M&A SPEED UP TO INCREASE THE GR
Slide 7: Transformed into an opportunity for future results
……TRANSFORMED IN A OPPORTUNITY FOR FUTURE RESULTS 09/2024 02/2024 LITIO RECYCLING 09/2023 PLANT (ABRUZZO) ECOSAVONA PARTNERSHIP WITH ACQUISITION STARTING SENEC FOR THE LANDFILL CAPACITY OPERATION IN 2H24 05/2023 DEVELOPMENT, IN SAVONA REGION - AWARDED EE 07/2023 IMPLEMENTATION AND 2.5Mmc3 TENDER FOR
Slide 8: With a solid asset base
WITH A SOLID ASSET BASE 8 SORTING & TREATMENT PLANTS 8 BIOGAS AND PV PLANTS 4 LANDFILLS 3.300 EQUIPMENT & VEHICLES 600kt WASTE MANAGEMENT Lazzate 2.000 CLIENTS (95% RETETION RATE) Cermenate Chivasso Milano Romano 5 CONSORTIA (Batteries, WEEE, Tyre, Bedizzole Collegno Compositi, Textile) PV panel rec
Slide 9: Company Presentation agenda
INNOVATEC GROUP COMPANY PRESENTATION 01 INNOVATEC IN ACTION 02 OUR PLAN TOWARDS SUSTAINABILITY 03 MARKET OVERVIEW 04 FINANCIAL PLAN 2024 - 2026 05 GOVERNANCE AND STOCK DATA
Slide 10: ESG rating received in 2022
ESG RATING RECEIVED IN 2022 Morningstar Sustainalytics, a company specialized in developing research, ratings and analytical data on ESG parameters, analyzed Commercial Innovatec performance, Industry Services providing a high-quality Sub Industry Facilities score that is useful in Maintenance suppo
Slide 11: Our strategy towards carbon neutrality
OUR STRATEGY TOWARDS CARBON NEUTRALITY Implementing all the proposed actions, a -17% reduction in emissions is Projected emissions Carbon Management Plan (t CO2eq) observed by 2026 compared PROJECTED REDUCTIONS TOT. 2024 to the Business As Usual (ton CO2eq)* - 26 (BAU) scenario updated to -17% Light
Slide 12: Our carbon management plan
OUR CARBON MANAGEMENT PLAN ACTIONS 2024 2025 2026 Innovatec S.p.A. POLICIES Coordination with sustainability committee POLICIES Updating emission sources and periodic reporting POLICIES Scope 3 Evaluation REDUCTION ACTIONS Light vehicle electrification COMPENSATION ACTIONS Renewable energy purchase
Slide 13: Company Presentation agenda
INNOVATEC GROUP COMPANY PRESENTATION 01 WHERE WE ARE TODAY 02 OUR PLAN TOWARDS SUSTAINABILITY 03 MARKET OVERVIEW 04 FINANCIAL PLAN 2024 - 2026 05 GOVERNANCE AND STOCK DATA
Slide 14: Ambitious EU targets will boost demand for circularity
AMBITIUS EU TARGETS WILL BOOST DEMAND FOR CIRCULARITY In the coming years, all industries will face several challenges related to the recycling of components and waste to reduce their environmental impact. Innovatec has several opportunities to expand its market presence. RECYCLING SHARES % 35% 65%
Slide 15: Acceleration toward clean & renewable energy in Italy
ACCELERATION TOWARD CLEAN & RENEWABLE ENERGY IN ITALY RENEWABLE ENERGY MARKET, CUMULATIVE INSTALLED CAPACITY (GW) +7,4% 80,3 +3,7% 8,9 56,6 45,4 18,9 37,9 CAGR CAGR 8,7 ‘17-’22 ‘22-’30 8,6 14,1 8,4 11,8 Others +0,4% +1,8% 9,8 52,4 33,7 Wind +3,8% +5,4% 19,7 25,0 Solar +4,9% +9,7% 2017 2022 2026 2030
Slide 16: Future growth drivers in Innovatec reference main industries
FUTURE GROWTH DRIVERS IN INNOVATEC REFERENCE MAIN INDUSTRIES Next years challenges will accelerate our Client’s journey toward sustainability: Automotive will switch to EV increasing recycling, Fashion will be revolutionized by green fashion and growth of recycling, 10 millions of buildings will be
Slide 17: Innovatec's clients industry trends: other industries
INNOVATEC’S CLIENTS INDUSTRY TRENDS: OTHER INDUSTRIES Other Industries expected to experiment future massive growth in sustainability transition FOOD & BEVERAGE ELECTRONICS & BATTERIES MATTRESSES & DRYWALL FOOD&BEVERAGE MARKET (€Bn) CONSUMER ELECTRONICS MARKET (€Bn) EU IT MATTRESSES MARKET 29M 5M 5%
Slide 18: Company Presentation agenda
INNOVATEC GROUP COMPANY RESENTATION 01 INNOVATEC IN ACTION 02 OUR PLAN TOWARDS SUSTAINABILITY 03 MARKET OVERVIEW 04 FINANCIAL PLAN 2024 - 2026 05 GOVERNANCE AND STOCK DATA
Slide 19: Haiki+: the ability to envision a new future
HAIKI+: THE ABILITY TO ENVISION A NEW FUTURE } The BU serves the so-called “special waste producers” and provides environmental services at every step of the cycle, WASTE SERVICE CLIENTS ACTIVITIES CONSORTIA COLLECTION / SORTING & TRANSPORT TREATMENT DISPOSAL RECYCLE / RECOVERY … Manufacturing circu
Slide 20: The new 360° energy clean tech platform
THE NEW 360° ENERGY CLEAN TECH PLATFORM Sustainability & System RES Asset Development Green Energy Portfolio Decarbonization Integrator of Energy Pillar & Management Management Strategy Transition solutions • Carbon inventory analysis • Management of the entire • Feasibility Analysis • Energy portfo
Slide 21: Offering portfolio for photovoltaic plant development
OFFERING PORTFOLIO FOR PHOTOVOLTAIC PLANT DEVELOPMENT To affirm our role as 360° ENERGY CLEAN TECH PLATFORM we designed a clear Offering Portfolio for ground mounted, utility scale Photovoltaic plant development. Thanks to these different types of offering we will seize several market opportunities
Slide 22: 2026 plan: growth & financial ambitions
2026 PLAN: GROWTH & FINANCIAL AMBITONS Cumulative CAPEX and Recruitments (2023-2026) DECARBONIZATION PLAN TO REDUCE HARD CAPEX M&A GROUP’S EMISSIONS ~63% ~62% Assets renovation Operating Cash vs ‘22 Flow for CapEx 3 (‘23-‘26) CAGR Revenues 478 22% (€M) CAPEX + M&A 332 €77 M 289 216 54 Investing in c
Slide 23: Business unit breakdown
BUSINESS UNIT BREAKDOWN ENV. & CIRC. Business • Expansion of its service portfolio, complementing the existing offer with a new platform of Clean MEuro 2023 % on 2023 2024BP 2025BP 2026BP CAGR % % on 2026 Tech solutions supported Revenues '23-26 Revenues by investments in Environment & Circular Econ
Slide 24: Net financial position
NET FINANCIAL POSITION According to estimates, a FINANCIAL PAYABLES - RECEIVABLES strong exponential growth 2.3 CASH & CASH EQUIVALENTS 2,2 x of cash & cash equivalents is expected, projected to PFN / EBITDA +€19M STRONG NET CASH TO EQUITY increase from just 1,4 x Net consolidated cash generated dur
Slide 25: Company Presentation agenda
INNOVATEC GROUP COMPANY PRESENTATION 01 INNOVATEC IN ACTION 02 OUR PLAN TOWARDS SUSTAINABILITY 03 MARKET OVIERVIEW 04 FINANCIAL PLAN 2024 - 2026 05 GOVERNANCE AND STOCK DATA
Slide 26: Stock data and corporate governance
STOCK DATA AND CORPORATE GOVERNANCE STOCK DATA – INNOVATEC SPA SHAREHOLDERS DATA INNOVATEC Listing Market Euronext Growth Milan no. of Ordinary Shares (M) 96.4 STOCK PERFORMANCE ISIN BIT IT0005412298 INC Free Float 55% Major Shareholder 45% Price per Share (Colucci Family) 1.08 Intense IR activity:
Slide 27: Disclaimer
DISCLAIMER THIS PRESENTATION IS NOT, NOR SHALL BE CONSTRUED AS, AN OFFER, INVITATION OR SOLICITATION OF AN OFFER TO BUY OR SELL SECURITIES. IT IS SOLELY TO BE USED AT AN INVESTOR PRESENTATION AND IS PROVIDED FOR INFORMATION PURPOSES ONLY. THIS DOCUMENT DOES NOT CONTAIN ALL OF THE INFORMATION THAT IS