Enerside Energy Sa · BME:ENRS
Enerside Energy Sa — Investor Presentation (July 2025)
28 slides from Enerside Energy Sa's investor presentation, July 2025
Slide 1: Profitable Energy, Sustainable World
PROFITABLE ENERGY SUSTAINABLE WORLD Corporate Presentation | July 2025
Slide 2: Disclaimer
DISCLAIMER This document may contain forward-looking statements and information (hereinafter, the “Information”) relating to Enerside Energy, S.A or Enerside Group (hereinafter “Enerside”, the “Company” or the “Enerside Group”). The Information reflects the current view of Enerside with respect to f
Slide 3: Table of Contents
Table of Contents 1. ABOUT ENERSIDE 2. STRATEGIC UPDATE – ITALIAN MARKET 3. BUSINESS PLAN 2025-2028 4. TAKEAWAYS
Slide 4: 1. About Enerside
enerside 1. ABOUT ENERSIDE
Slide 5: Enerside at a Glance - Operational and Financial figures
ABOUT ENERSIDE – 2024 CONSOLIDATED RESULTS ENERSIDE at a Glance - Operational and Financial figures Pipeline PV Pipeline BESS IPP Assets Sold 4,8 GW 13,2 GWh 13 MW 509 MW1 Pipeline distributed across BESS Stand Alone In Operation 3 MW at COD Italy, Spain, Chile and Brazil Equity Value GAV2 Net Debt
Slide 6: About Enerside – Business Model
ABOUT ENERSIDE – BUSINESS MODEL Proven & flexible Business Model focused on Value Creation Origination Project Development & Construction Flexible Strategy to crystallize Value Asset Rotation (Develop-to Sell & Build-to Sell) Sizable and Diversified Pipeline Originated +5 GW from scratch and with ow
Slide 7: 4.8 GW | 13.2 GWh Diversified & Mature Pipeline
ABOUT ENERSIDE – 4.8 GW | 13.2 GWH DIVERSIFIED & MATURE PIPELINE International presence with unique exposure to Italy and BESS Pipeline Overview1,2 Pipeline Overview by GAV1 % of Dev. Acc. Diversified Portfolio with unique exposure to Italy Stage GAV (€M) 66% of Assets under Management in Europe Org
Slide 8: Italian Market: Targeting High-growth, High-margin Market
ABOUT ENERSIDE – ITALIAN MARKET Targeting High-growth, High-margin Market Italy is still providing high profitability due to high energy prices allowing Increased exposure to the Italian market, supported by strong fundamentals (PNIEC targets and high- visibility on the projects returns and the pipe
Slide 9: Capturing BESS value in Italy through development
ABOUT ENERSIDE – ITALIAN BESS MARKET BESS Key Outputs & Capturing BESS value in Italy through development Value Drivers <10K DEVEX Cost Per MW 1 Development 2 Construction 3 Operation Origination & Permitting until Financing & EPC contract until Asset Management and Exit >3-5x RtB status COD Strateg
Slide 10: 2. Strategic Update – Italian Market
2. STRATEGIC UPDATE – ITALIAN MARKET
Slide 11: Acquisition of 100% ownership of Italian subsidiary
CORPORATE TRANSACTION - EXECUTIVE SUMMARY Acquisition of 100% ownership of Italian subsidiary > ENERSIDE to acquire the remaining 44% stake in its Italian subsidiary through a €24 million capital increase, executed via share Proposed Transaction issuance at €3.17 per share to achieve full ownership
Slide 12: Pipeline Overview & Potential in Italy
ABOUT ENERSIDE – ITALIAN PIPELINE Pipeline Overview & Potential in Italy Sardinia, South-East and Sicily are the regions with the most ambitious energy targets where ENERSIDE concentrate its Pipeline Capacity Status BESS Capacity (MWh) PV Capacity (MW) Estimated RTB SPA Signed 200 470 2026 AU Proces
Slide 13: Corporate Transaction - Financial Outcomes
CORPORATE TRANSACTION - FINANCIAL OUTCOMES 1 Operational Synergies - annual OPEX savings 2 Increase of Attributable GAV to €245M 3 Enhance company collateral & lower LTV As per Budget Forecast 2025 Based on External Expert Valuation as of April 2025 Debt Size as of 31/12/2024 € MM € MM 20% Cost 420
Slide 14: 3. Business Plan 2025-2028
3. BUSINESS PLAN 2025-2028
Slide 15: Business Plan 25/28 – The New Enerside
BUSINESS PLAN 25/28 – THE NEW ENERSIDE Plan Impulsa on track, entering a new phase of profitable growth Phase 1: Phase 2: Phase 3: Readjustment Stabilization Profitable Growth 2H 23 – 1H 24 2H 24 2025 – 2026 2027 – 2028 • EPC discontinuation • Refinancing with banks • Focus on Development • Focus on
Slide 16: Business Plan 25/28 - Portfolio
BUSINESS PLAN 25/28 - PORTFOLIO Portfolio Goals1: Pre-IPO (March-2022) 2024 2026 Technology Development Pipeline (MW) 4.6 GW 6.6 GW | 2.8GWh 5 GW | 5 GWh Weight Europe2 (%) 37% 61% 75% Asset Rotation (MW) 280 MW 506 MW 1.5 GW IPP (MW) - 13 MW 40 MW 1. Figures of the Strategic Goals have been approve
Slide 17: Business Plan 25/28 - Financials
BUSINESS PLAN 25/28 - FINANCIALS Financials Goals1: Pre-IPO (March-2022) 2024 2026 Revenues Asset Rotation (€M) 4 13 60 Recurring Ebitda from IPP (€M) - 1 >8 Gross Asset Value (€M) 166 1942 3003 Organic Growth Organic Growth Organic Growth Value Creation Inorganic Growth Inorganic Growth Inorganic G
Slide 18: Business Plan 25/28 – Uses & Sources
BUSINESS PLAN 25/28 – USES & SOURCES A Business Plan with two phases of growth 2025-26 -> Focus on Development 2027-28 -> Focus on Development & IPP 200 110-120 25 110-120 Alternative sources of capital 15-20 10-15 Asset 60 Rotation Equity / Debt RTB & Co-Inv. COD Total Uses Asset New Corporate Proj
Slide 19: 4. Takeaways
4. TAKEAWAYS
Slide 20: On track to a sustainable & profitable future
TAKEAWAYS On track to a sustainable & profitable future 1 2023 and 2024 have been a difficult year for renewables, impacting Enerside’s financial KPIs • Geopolitical Tensions, volatile Energy Prices and higher interest rates have been a huge challenge for the industry as a whole • Enerside has been
Slide 21: 5. Appendices
5. APPENDICES
Slide 22: A Solar PV specialist since 2007
APPENDICES – PROVEN TRACK RECORD A Solar PV specialist since 2007 Reaching key Targets since 2007 Key Company Milestones 2007-2012. 2012-2017 2018-2020 2021-2023 2024-26 Inception Internationalization Integrated Platform IPO Profitable Growth PURE DEVELOPER TRANSFORMATION TO IPP • Asset Rotation • C
Slide 23: Integrated Platform with all capabilities in-house
APPENDICES – OUR BUSINESS MODEL Integrated Platform with all capabilities in-house 1 Development – 22 Headcounts 2 Construction – 8 Headcounts 3 Operations – 12 Headcounts Development of PV Solar projects until EPCM provider from RTB to COD O&M IPP reaching RTB status • Market research for new oppor
Slide 24: Energy sale strategy to minimize risks
APPENDICES – GO-TO-MARKET STRATEGY Energy sale strategy to minimize risks Distributed Generation Utility Scale Projects in Italy Regulated/ PPA driven strategy Merchan Revenues 100% > PPA > Day-Ahead Market & Ancillary Service PPA (Brasil) > Regulatory Schemes: MACSE, FER Auctions, & Capacity Market
Slide 25: Value creation and cash flow through the life cycle of PV plant
APPENDICES – BUSINESS MODEL & STRATEGIC POSITIONING Value creation and Cash flow through the life cycle of PV plant Overview of a Generic Solar PV Project (Illustrative) Development Construction Operation 1 - 5 years < 1 year 25-30 years Returns: +3x invested capital Project IRR +10% Yield compressi
Slide 26: Profit & Loss Statement 2024 – Management Accounts
FINANCIAL RESULTS 2024 – P&L Profit & Loss Statement 2024 – Management Accounts1 Successful turn-around in 2024 with Positive EBITDA2 P&L Management Accounts - €m 2024 2023 Variation Asset Sales1 9,3 2,7 6,5 Construction - EPC / BOS 1,6 16,2 (14,6) IPP / O&M 1,5 1,0 0,5 2024 results reflect that Ene
Slide 27: Profit & Loss Statement 2024 vs Management Accounts
FINANCIAL RESULTS 2024 – P&L Profit & Loss Statement 2024 vs Management Accounts pre-RTB 2024 P&L - €m 2024 Sale (Management)1 Asset Sales2 2,1 7,2 9,3 Construction - EPC / BOS 1,6 - 1,6 IPP / O&M 1,5 - 1,5 Net Sales 5,2 - 12,4 Capitalized Expenses (Capex & Devex) 6,0 - 6,0 Total Revenue 11,2 7,2 18
Slide 28: Thank You
THANK YOU investors@enerside.com