EnergieKontor AG · XETR:EKT
EnergieKontor — FY2023 Earnings Presentation
41 slides from EnergieKontor's earnings presentation, Mar 28, 2024
Slide 1: Company Presentation Financial year 2023
Company Presentation Financial year 2023 Bremen, 28 March 2024
Slide 2: Agenda
Agenda 01 Energiekontor at a glance 02 Market environment 03 Business year 2023 04 Financial year 2023 05 Outlook and mid-term strategy 06 Share and shareholder structure 07 Additional information
Slide 3: Energiekontor at a glance
01 Energiekontor at a glance
Slide 4: We are a leading German project developer and operator of onshore wind and solar parks
Energiekontor at a glance A solid business policy and lots of experience in renewable energies for >30 years • Founded in 1990 in Bremerhaven We are a leading • Headquartered in Bremen German project • Additional offices in Germany and abroad developer and (UK, PT, FR, US) operator of onshore • IPO
Slide 5: Important milestones in Energiekontor's successful development
Energiekontor at a glance Important milestones in Energiekontor‘s successful development 1995 2000 2010 2014 2017/18 2023/2024 Subsidiary founded IPO First solar First community Market entry the Record result/ in Portugal park project wind park United States first projects in France permitted 1990 1
Slide 6: The three pillars of our success – Our business divisions
Energiekontor at a glance The three pillars of our success – Our business divisions Project Covering the entire value chain from development & sales acquisition, planning, commissioning to sale; (onshore wind, solar) incl. repowering Energiekontor AG Power generation in Recurring revenues from the s
Slide 7: We proudly look back on a strong track record since company foundation
Energiekontor at a glance We proudly look back on a strong track record since company foundation >160 realised wind and solar parks ~1.4 GW total generation Green energy for capacity Power generation >810,000 households >2.7 billion kwh p.a. Saving ~2.0 million tons of CO2 p.a. 28 March 2024 Energie
Slide 8: We are close to the market – Across 5 countries at 17 company sites
Energiekontor at a glance We are close to the market – Across 5 countries at 17 company sites United Germany Kingdom 3 9 United 2 States 2 Portugal 1 France 28 March 2024 Energiekontor AG / Company Presentation / Financial year 2023 8
Slide 9: We are well positioned with a total of ~390 MW own capacity
Energiekontor at a glance We are well positioned with a total of ~390 MW own capacity (growing) Germany United Kingdom Portugal 32 3 4 wind and wind parks wind parks solar parks Ca. 291 MW Ca. 60 MW Ca. 38 MW 28 March 2024 Energiekontor AG / Company Presentation / Financial year 2023 9
Slide 10: Pioneers of change – Our mission statement
Energiekontor at a glance Pioneers of change – Our mission statement is more relevant than ever before 100% renewable energy As a pioneer in renewable energy, we are actively shaping the transition to 100% renewables. Concentrating on our core competences and innovation will drive our business to a
Slide 11: Our vision is 100% renewable energy
Energiekontor at a glance Taking an active role in shaping the future – Our vision is 100% renewable energy Short term Long term Realisation of wind and … at generation costs below solar parks in all … without public subsidies … those of conventional country markets … power plants. 28 March 2024 Ene
Slide 12: We grow organically and sustainably while maintaining our financial stability
Energiekontor at a glance We grow organically and sustainably while maintaining our financial stability ~50% own portfolio Power generation in the Group‘s own wind Project and solar parks development 100% cost Group EBT & sales coverage (+10% to +20% p.a.) Operation, (onshore wind, solar) developmen
Slide 13: We focus on our main strategic points
Energiekontor at a glance As a pioneer of the energy transition, we focus on our main strategic points Continuous Established expansion of Realisation on “Regional Business technologies own park free of state principle” expansion (onshore wind, portfolio (IPP) by subsidies in all with local in all e
Slide 14: The regional presence of our teams is our strategic success factor
Energiekontor at a glance The regional presence of our teams is our strategic success factor Decentralised Close structures and proximity to hierarchies relevant stakeholders, landowners and local authorities 28 March 2024 Energiekontor AG / Company Presentation / Financial year 2023 14
Slide 15: Market environment
02 Market environment
Slide 16: Renewable energies generated more than 50% of electricity in Germany in 2023
Market environment Renewable energies generated more than 50% of electricity in Germany in 2023 Renewable energies Gross power production in Germany (in %). Source: Federal Statistical Office. 28 March 2024 Energiekontor AG / Company Presentation / Financial year 2023 16
Slide 17: Onshore wind energy expansion continued in Germany in 2023
Market environment Onshore wind energy expansion continued in Germany in 2023 Target for 2030 115 GW Target fulfilment requires an average annual expansion of ~8 GW Installed generation capacity (in MW). Source: Deutsche WindGuard GmbH. 28 March 2024 Energiekontor AG / Company Presentation / Financi
Slide 18: Solar capacity doubled in Germany in 2023
Market environment Solar capacity doubled in Germany in 2023 Target for 2030 215 GW Target fulfilment requires an average annual expansion of ~20 GW Installed generation capacity (in MW). Source: German Federal Network Agency. 28 March 2024 Energiekontor AG / Company Presentation / Financial year 20
Slide 19: Economic and political market conditions – Current challenges
Market environment Economic and political market conditions – Current challenges Long lasting Prolonged Continuing Price planning and delivery times Increased acceptance increases by approval and realisation interest rates problems manufacturers procedures processes High global demand Political comm
Slide 20: Economic and political market conditions – Countermeasures
Market environment Economic and political market conditions – Countermeasures Secured Increased Leverage New transaction electricity profitability of Additional boost improved structures for remuneration construction by optimisation regulatory project sales for existing projects with measures condit
Slide 21: Business year 2023
03 Business year 2023
Slide 22: Successful project business delivers new record result in 2023
Business year 2023 Highlights in FY 2023 • Increased earnings forecast fulfilled Successful • Significant growth in sales and earnings project • Dividend proposal raised to €1.20 business • Growth strategy 2023 to 2028 confirmed delivers new record result • Project pipeline significantly expanded in
Slide 23: Project development business successfully continued in 2023
Business year 2023 Project development business successfully continued in 2023 Germany United Kingdom Project sales clearly above PY (+69%) mainly due to successful UK business Commissionings below PY (-19%) mainly due to shift into 2024 (DE/UK) 2 7 3 Commis- project commis- project sionings sales s
Slide 24: Project pipeline considerably expanded by >1.0 GW by end of 2023
Business year 2023 Project pipeline considerably expanded by >1.0 GW by end of 2023 Value added Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 Cumulative Project pipeline per phase value added (incl. US project rights) 1-2% 6,142 >2.3 GW 1-2% 10,248 11,667 in phases (5,337) ~72 MWp 3-5 (solar) under 6-8% 2
Slide 25: Project pipeline further diversified by end of 2023
Business year 2023 Project pipeline further diversified by end of 2023 Regional diversification Technological diversification 7.7% 1.3% 8.1% 32.4% ~11.7 GW 52.2% ~11.7 GW 30.6% 67.6% Germany Onshore wind United Kingdom Solar United States France Portugal 28 March 2024 Energiekontor AG / Company Pres
Slide 26: Financial year 2023
04 Financial year 2023
Slide 27: Group profit and loss statement – EPS almost doubled
Financial year 2023 Group profit and loss statement – EPS almost doubled In € million 2023 2022 Change Sales 241.8 187.6 28.9% Total output 275.4 255.7 7.7% EBITDA 135.6 99.8 35.8% EBIT 144.4 80.0 43.1% EBT 95.5 62.9 51.8% Group result 83.3 44.5 87.1% Earnings per share (undiluted, in €) 5.97 3.18 8
Slide 28: Sales and EBT contribution by segment
Financial year 2023 Sales and EBT contribution by segment – Very successful project business Project development & sales (onshore wind, solar) Sales share EBT share In € million 2023 2022 Change €187.6 m €241.8 m €62.9 m €95.5 m Sales (external) 157.8 104.8 50.6% EBT 64.1 28.4 125.8% Power generatio
Slide 29: Group balance sheet – Equity ratio considerably increased
Financial year 2023 Group balance sheet – Equity ratio considerably increased In € million 31/12/2023 31/12/2022 Change Cash & cash equivalents 175.6 127.0 38.2% (incl. short-term securities) Long-term liabilities 378.4 342.8 10.4% Short-term liabilities 158.0 167.1 -5.5% Equity 185.2 123.7 49.8% Eq
Slide 30: Group cash flow statement – Highly comfortable cash position
Financial year 2023 Group cash flow statement – Highly comfortable cash position Cash flow from Cash flow from Cash flow from operating activities investing activities financing activities €144.8 m €-45.5 m €-49.8 m 175.6 127.0 Thereof cash €132.3 m Thereof short- term securities €43.3 m 28 March 20
Slide 31: Outlook and mid-term strategy
05 Outlook and mid-term strategy
Slide 32: FY 2024 is a key component in setting the course for our mid-term strategy
Outlook and mid-term strategy FY 2024 is a key component in setting the course for our mid-term strategy Linear vs. actual earnings development Growth strategy 20231 to 2028 (EBT in € million) • Targeted EBT growth to around €120 million in FY 2028 Earnings trend to level out • Based on proven organ
Slide 33: Share and shareholder structure
06 Share and shareholder structure
Slide 34: Basic share information
Share and shareholder structure Basic share information Key share data Shareholder structure1 WKN ∙ ISIN 531350 ∙ DE0005313506 Bloomberg ∙ Reuters EKT Class of shares No-par-value bearer shares Listing Deutsche Börse, Frankfurt Founders XETRA, Frankfurt, all other German (Dr. B. Wilkens, Marketplace
Slide 35: Dividend payout and analysts coverage
Share and shareholder structure Dividend payout and analysts coverage Dividends Coverage Broker/Institute Recommendation Price target Last update First Berlin Buy €134.00 18/12/2023 Hauck & Aufhäuser Buy €136.00 20/12/2023 Metzler Buy €121.00 19/12/2023 M.M. Warburg Buy €140.00 04/03/2024 Stifel Hol
Slide 36: Share price performance vs. benchmark indices
Share and shareholder structure Share price performance vs. benchmark indices Date Closing price 30/12/2022 €77.00 130 28/03/2023 €59.70 (low) 31/08/2023 €87.50 (high) 29/12/2023 €82.70 (+7.4%) 120 110 100 90 80 70 30.12.2022 30.03.2023 30.06.2023 30.09.2023 31.12.2023 31.03.2024 Energiekontor SDAX
Slide 37: Additional information
07 Additional information
Slide 38: Financial calendar and news
Additional information Financial calendar and news Date Event Location/format 13 May 2024 Interim statement on the first quarter of 2024 Publication 29 May 2024 Annual General Meeting Ritterhude 12 August 2024 Half-year financial report for 2024 Publication 14 November 2024 Interim statement on the
Slide 39: Contact
Contact Investor & Public Relations Julia Pschribülla Head of Investor & Public Relations Phone: +49 (0)421-3304-126 Email: ir@energiekontor.com Energiekontor AG Mary-Somerville-Strasse 5 28359 Bremen Germany Phone: +49 (0)421-3304-0 Fax: +49 (0)421-3304-444 Email: info@energiekontor.de Web: www.ene
Slide 40: Thank you for your attention!
Thank you for your attention!
Slide 41: Disclaimer
Disclaimer The information in this presentation does not constitute an offer to buy or sell securities or a solicitation of an offer to buy securities but is provided for informational purposes only. The information contained in this presentation is directed exclusively at interested parties domicil