Ameresco, Inc. · NYSE:AMRC
Ameresco — Q3 2022 Earnings Presentation
13 slides from Ameresco's earnings presentation, Nov 1, 2022
Slide 1: Q3 2022 Supplemental Information
ameresco.com © 2022 Ameresco, Inc. All rights reserved. Q3 2022 Supplemental Information November 1, 2022
Slide 2: Safe Harbor Forward Looking Statements
2 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 and backlog, as well as estimated future revenues, net income, adjusted EBITDA, Non-GAAP EPS, gross m
Slide 3: Sources of Revenue – Q3 2022
Sources of Revenue – Q3 2022 3 Projects Energy efficiency and renewable energy projects Recurring Energy & incentive revenue from owned energy assets; plus recurring O&M from projects Other Services, software and integrated PV $351.5M $63.6M $26.2M
Slide 4: 48% of Adjusted EBITDA Came From Recurring Lines of Business
Projects 48% Assets 42% O&M 6% Other 4% $163M Adjusted EBITDA* 48% of Adjusted EBITDA Came From Recurring Lines of Business 4 Projects 83% Assets 8% O&M 4% Other 5%12% Recurring $1.49B Revenue * Adjusted EBITDA percentages allocate corporate expenses according to revenue shareYear-to-Date 2022 48% R
Slide 5: Energy Asset Portfolio – 9/30/2022
Energy Asset Portfolio – 9/30/2022 5 360 MWe of Energy Assets: 94 MW of non-RNG biogas, 38 MW of RNG, Solar is 219 MW, Other is 8 MW 501 MWe of Total Asset Capacity; 452 MWe of Ameresco net MWe capacity after minority interest Energy Assets 360 MWe Other: 2% Solar: 61% Biogas: RNG 11% Biogas: Non-RN
Slide 6: Energy Asset Balance Sheet – 9/30/2022
Energy Asset Balance Sheet – 9/30/2022 6 * Net of unamortized debt discount and debt issuance costs of $1.8M on corporate debt and $14.3M on Energy Debt $412M of the $1.03B energy assets on our balance sheet are still in development or construction. $336M of the $813M* of total debt on our balance s
Slide 7: Tremendous Forward Visibility: Backlog & Recurring Revenue Business
$0 $500,000,000 $1,000,000,000 $1,500,000,000 $2,000,000,000 Awarded Project Backlog Contracted Project Backlog Operating Energy Assets O&M Backlog Tremendous Forward Visibility: Backlog & Recurring Revenue Business 7 ~ 12-24 months to contract ~ 12-36 months of revenue 14 year weighted average PPA
Slide 8: Sustainable & Profitable Business Model
Sustainable & Profitable Business Model 8 Revenue ($M) $717 $787 $867 $1,032 $1,216 $1,830 2017 2018 2019 2020 2021 2022 Guidance $1,870 High-End 21.1% CAGR Low-End 20.6% CAGR $63 $91 $91 $118 $153 $200 2017 2018 2019 2020 2021 2022 Guidance Adjusted EBITDA ($M) $210 High-End 27.1% CAGR Low-End 25.9
Slide 9: Enabling a Low Carbon Future
Enabling a Low Carbon Future Since 2010, Ameresco’s renewable energy assets & customer projects delivered a cumulative Carbon Offset equivalent to: Greenhouse gas emissions from… 34 billion miles driven by an average passenger vehicle Carbon sequestered by… 16.7 million acres of U.S. forests in one
Slide 10: Thank You
ameresco.com © 2022 Ameresco, Inc. All rights reserved. to Our Customers, Employees, and Shareholders Thank You
Slide 11: Non-GAAP Financial Measures
11 Non-GAAP Financial Measures We use the Non-GAAP financial measures defined and discussed below to provide investors and others with useful supplemental information to our financial results prepared in accordance with GAAP. These Non-GAAP financial measures should not be considered as an alternati
Slide 12: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation 12 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Adjusted EBITDA: Net income attributable to common shareholders 27,391$ 17,423$ 76,991$ 42,252$ Impact from redeemable non-controlling interests 344 2,857 2,915 8,345 Plus (Less): Income tax provision (benefit) 3,657
Slide 13: GAAP to Non-GAAP Reconciliation (continued)
GAAP to Non-GAAP Reconciliation (continued) 13 * Adjusted EBITDA by Line of Business includes corporate expenses allocated according to revenue share $000 USD Projects Operating Assets O&M Other Consolidated Adjusted EBITDA: Net income attributable to common shareholders 41,855$ 25,583$ 6,725$ 2,828