Ellomay Capital Ltd · AMEX:ELLO
Ellomay Capital — Investor Presentation (September 2017)
31 slides from Ellomay Capital's investor presentation, Sep 18, 2017
Slide 1: Investor Presentation September 2017
Investor Presentation September 2017
Slide 2: General and Forward-Looking Statements
General: The information contained in this presentation is subject to, and must be read in conjunction with, all other publically available information, including our Annual Report on Form 20-F for the year ended December 31, 2016, and other filings that we make from time to time with the SEC. Any p
Slide 3: Company Overview
* Ellomay operates in the energy and infrastructure growing sectors including renewable and clean energy. The Company’s shares are traded on the NYSE American and the Tel Aviv Stock Exchange with a market cap of approximately $89.7 million (as of September 11, 2017) and the Company is controlled by
Slide 4: Corporate Structure
Dorad Energy Ltd. (“Dorad”) PV Kanir Partnership Shlomo Nehama 30.7%2 31.7%3 9.4%~ 100% 37.6% Development Project – Pumped Storage 75% Corporate Structure The public and others Shareholders agreement1 16 photovoltaic plants in Italy and Spain, with aggregate installed capacity of ~30.5 MWp, all conn
Slide 5: Milestones
Entrance to Italian PV Market (acquisitions 2010 - 2013) Acquired indirect equity interest in Dorad Energy Ltd. Listing in NYSE American Public Series A Debenture Issuance (il A- ,Maalot S&P IL) 2010 2011 2012 2013 2014 2015 Listing in TASE Entrance to Spanish PV Market Commencement of Dorad Power P
Slide 6: Portfolio Summary
850 MW2 850 Nm3/h1 22.6 MWp 7.9 MWp Installed Capacity ~ 9.4% 51% 100% 100% % Ownership ~ $35.2M5 ~ $12.6M4 ~ $78.5M4 ~ $21.6M4 Book Value of investment3 20346 ~ 2029 ~ 2031 2040-2041 License/Subsidy Term 1 2 12 4 # Facilities Spain (PV) Italy (PV) Israel (CCGT) Portfolio Summary Biogas installation
Slide 7: Photovoltaic Operations: Italy and Spain
Photovoltaic Operations: Italy and Spain
Slide 8: Clean energy represents a growing portion of energy production
Production of clean energy represents a growing portion of energy production. Today, the majority of the energy supply in the world is still produced using fossil fuels, such as coal, oil and natural gas. The use of these traditional energy sources raises a number of challenges, including price vola
Slide 9: PV Plants in Italy
Project name Installed Capacity (kWp) Acquisition Year Acquisition Cost per MWp (in millions) Connection Date1 Technology Region FiT1 Eurocent/KWh Del Bianco 734 2010 €2.9 04/2011 Fix Marche 32.15 Costantini 734 2010 €2.9 04/2011 Fix Marche 32.15 Giacchè 730 2010 €3.8 04/2011 Trackers Marche 32.15 M
Slide 10: PV Plants in Spain
Project name Installed Capacity(kWp) Acquisition Year Acquisition Cost per MWp (in millions) Connection Date1 Technology Location Expected annual revenues (€ thousand) Rodríguez I 1,675 2014 €1.55 11/2011 Fix Murcia ~ 570 Rodríguez II 2,690 2014 €1.78 11/2011 Fix Murcia ~ 960 Fuente Librilla 1,248 2
Slide 11: Dorad Power Plant, Ashkelon, Israel
Dorad Power Plant, Ashkelon, Israel
Slide 12: Dorad Power Plant overview
The Dorad Power Plant is one of the largest private power plant in Israel, with installed capacity of approximately 850 MW. The plant is a CCGT bi-fuel plant and powered by natural gas. The Dorad Power Plant is comprised of twelve natural gas turbines, and two steam turbines. Ellomay indirectly hold
Slide 13: Dorad Power Plant Key P&L and Cash Flow Figures
H1 2017 H1 2016 2016 Revenues 1,211 1,126 2,300 Gross profit from operating the power plant 161 127 294 Operating profit 152 119 275 Net income 2 13 51 EBITDA1 250 225 484 Finance expenses, net (149) (107) (219) Net increase in cash and cash equivalents for the period, including effect of exchange r
Slide 14: Waste-to-Energy Projects
Waste-to-Energy Projects Biomethane injection Biogas plant Electricity Heat Biomethane treatment Organic matter Fertilizers Biogas: the combustible product of the anaerobic digestion of different biomass substrates including manure, agro-residues and organic waste. Green gas:(bio-methane) is defined
Slide 15: The Potential of the Dutch Biogas Market
The Potential of the Dutch Biogas Market The Netherlands produces over 76 million tons of manure per year (source CBS, 2013).Approximately 10% of the market has to be processed due to stringent regulatory requirements (“overmest”). Maximum biogas potential is expected to triple between 2020 to 2030
Slide 16: Strategic Collaboration with Ludan
Strategic Collaboration with Ludan Pursuant to the agreement with Ludan, subject to the fulfillment of certain conditions (including the financial closing of each project and receipt of a valid Sustainable Energy Production Incentive subsidy from the Dutch authorities and applicable licenses), the C
Slide 17: Waste-to-Energy (Biogas) Projects
Waste-to-Energy (Biogas) Projects In 2016 the Company acquired 51% of the rights in a project company, in Groen Gas Goor B.V developing an anaerobic digestion (AD) plant, with a green gas production capacity of approximately 375 Nm3/h, in Goor, the Netherlands, and the land on which the plant will b
Slide 18: Pumped-Storage Development Project Manara Cliff, Israel
Pumped-Storage Development Project Manara Cliff, Israel
Slide 19: Pumped-storage project: the solution in a nutshell
Hydro-electric storage system comprised of two water reservoirs (upper and lower), connected through an underground water pressure pipe. Energy is stored by pumping water from lower to upper reservoir and generated by releasing the water back. Sustainable technology – working for over 100 years. Thi
Slide 20: Pumped-Storage Project
340 MW 2 Ellomay Pumped Storage (2014) Ltd. Ellomay Capital Ltd. – 75% 1Sheva Mizrakot Ltd. – 25% Capacity Shareholders Company Pumped-Storage Project Indirectly owned through the project company.In August 2016, Ellomay PS received a conditional license for a pumped storage plant with a capacity of
Slide 21: Expected Projects
Expected Projects = ellomay.
Slide 22: Acquisition of a Photovoltaic Plant in Israel
Acquisition of a Photovoltaic Plant in Israel The company has entered into an agreement to acquire the shares of an Israeli company that owns through a subsidiary a photovoltaic plant in Israel with a nominal capacity of ~9MWp, that was connected to the Israeli grid in November 2013. The Israeli pro
Slide 23: SPA to Acquire a Spanish Company Promoting a 300 MW PV Plant
SPA to Acquire a Spanish Company Promoting a 300 MW PV Plant in Talaván, Spain The company has entered into a share purchase agreement (the “SPA”), pursuant to which it purchased and acquired the entire share capital of a Spanish company, Talasol Solar S.L. (“Talasol”), which is promoting the constr
Slide 24: Financial Results
Financial Results
Slide 25: Key Balance Sheet Figures
December 31, 2016 % Of BS June 30, 2016 % Of BS June 30, 2017 % Of BS Cash and cash equivalent, Marketable securities, Short-term deposits 24,673 16% 22,230 14% 51,497 25% Financial Debt* 58,752 38% 59,414 37% 106,680 52% Financial Debt, net* 34,079 22% 37,184 23% 55,183 27% Property, plant and equi
Slide 26: Key Financial Ratios
Key Financial Ratios December 31, 2016 June 30, 2016 June 30, 2017 Financial Debt to CAP (A/D) 40% 39% 54% Financial Debt, net to CAP (B/D) 23% 25% 28% Financial Debt to Total equity (A/C) 66% 65% 118% Financial Debt, net to Total equity (B/C) 38% 41% 61% Strong Balance Sheet, Sufficient Liquidity,
Slide 27: Key Income and P&L Figures
(USD millions) Key Income and P&L Figures See below for a reconciliation of net income (loss) to EBITDA
Slide 28: EBITDA
EBITDA EBITDA is a non-IFRS measure and is defined as earnings before financial expenses, net, taxes, depreciation and amortization. The Company presents this measure in order to enhance the understanding of the Company’s and Dorad’s historical financial performance and to enable comparability betwe
Slide 29: Summary
1 2 3 4 Summary Diversified and growing base of cash flow generating assets. The Company is characterized by relatively low leverage and revenues based on regulatory tariffs. The Company aims to exploit attractive yield to risk ratios worldwide. Seasoned management team, with extensive sector knowle
Slide 30: Thank you
www.ellomay.com Investor RelationsIshay Potruch / Chen LivneGK Investor relations Direct: +972 (0)3-6074717Email: ishay@gk-biz.com / chen@gk-biz.com www.gk-biz.com CompanyKalia WeintraubChief Financial OfficerEllomay Capital LTD.9 Rothschild Blvd., Tel AvivDirect: +972-3-7971111Email: miri2@ellomay.
Slide 31: Appendix A – Leverage Ratios
Appendix A – Leverage Ratios As of December 31, As of June 30, As of June 30, 2016 2016 2017 Current liabilities Loans and borrowings $ (1,150) $ (1,208) $ (1,268) Debentures $ (4,989) $ (4,973) $ (5,500) Non-current liabilities Finance lease obligations $ (4,228) $ (4,658) $ (4,396) Long-term loans
Ellomay Capital — Investor Presentation (September 2017) on 6ix