Holaluz Clidom Sa · BME:HLZ
Holaluz Clidom Sa — Holaluz — Investor Presentation (November 2024)
37 slides from Holaluz Clidom Sa's investor presentation, November 2024
Slide 1: The Rooftop Revolution
The Rooftop Revolution Corporate Presentation November 2024
Slide 2: Forward looking statements
Forward looking statements This communication contains forward-looking statements related to Holaluz (the “Company”) These data do not represent estimates within the meaning of Commission Delegated Regulation (Eu) No. 2019/979 or No. 2019/980. Such forward-looking statements include, but are not lim
Slide 3: Agenda
Agenda About Us Business Model and Growth Strategy H1 2024 Overview Financing Key Focuses and Summary 3
Slide 4: About Us
About Us
Slide 5: Our commitment to fully decarbonize the world
Our commitment to fully decarbonize the world We are building the largest and most impactful green energy community in Europe, unleashing the full potential of electrifying energy demand by scaling distributed Solar and Storage 5
Slide 6: About Us
About Us Transforming every rooftop into a distributed green energy producer • Leading the highly critical energy transition, a disrupter and innovator in the marketplace • +13 years as a GreenTech leader in Spain • Unique and differentiated business model combining Solar and Energy Management opera
Slide 7: Our Leading Customer Value Proposition
Our Leading Customer Value Proposition Maximum Savings Flat-rate subscription product We provide the maximum savings We guarantee the savings delivered to our (+70%) to our customers through rooftop customers after solar installation through a maximization and energy management of monthly fixed subs
Slide 8: Our Leading Profile and Brand
Our Leading Profile and Brand Brand upd ated H1 24 8.6/10 ESG ADN 73/100 points solar customer satisfaction 81% of Spaniards know 4/5 Holaluz stars on 11.6 points (prompted awareness)* Top 5 Trustpilot 103.3 in solar and energy Points B Corp supply consideration nationwide 58% reduction of 100% 13M€
Slide 9: Business Model and Growth Strategy
Business Model and Growth Strategy
Slide 10: Our Business Model
Our Business Model Getting vertically integrated into electricity generation through distributed solar and storage and connecting these distributed producers with end customers through our energy management tech platform creates a strong and sustainable competitive advantage in the sourcing cost of
Slide 11: Holaluz ecosystem combining decentralized Solar PV and Energy Management
Holaluz ecosystem combining decentralized Solar PV and Energy Management enables our differentiated business model A Connect people to green energy Energy Management Transform every sqm of rooftop into green electricity production and storage Solar business B business … buys that electricity from th
Slide 12: Why Residential Solar and Energy Management?
Why Residential Solar and Energy Management?
Slide 13: We offer a superior product that delivers maximum savings
We offer a superior product that delivers maximum savings for our customers 20-year Spanish energy consumption for a typical household. 2024 prices, € 84,400 23,000 Natural gas 61,400 Gasoline Electricity 33,600 33,600 27,800 27,800 27,800 0 Total energy bill With Distributed With an EV on top With
Slide 14: Building a Distributed Generation ecosystem with a unique sourcing advantage
While building a Distributed Generation ecosystem that unleashes a unique sourcing advantage, allowing Holaluz to compete with large-scale incumbents Proximity or collective self-consumption allows citizens to share self-generated electricity with their neighbor on a contractual basis. The Illustrat
Slide 15: Significant growth potential in solar market
Significant growth potential in solar market Solar the enabler for driving the development of the distributed energy market • Spanish climate is ideal for solar generation, over 10M feasible rooftops • Solar penetration currently <5%, compared with +25% in other European countries • Very fragmented
Slide 16: Opportunity to grow Distributed Generation in Spain is massive
Opportunity to grow Distributed Generation in Spain is massive as the market remains vastly underpenetrated at under 5% Evolution of annual residential solar installations in Spain, # thousands installations 1 <1% <1% <1% <1% 3% 4% 15% 100% 10.000 2023 and 2024 highly impacted by a high interest rat
Slide 17: Our Growth Strategy
Our Growth Strategy Scale Data & Technology Optimisation Grow significantly through Lead the market with best product Maximize profitability through development of various customer and savings through continuous focus on optimized operations, risk acquisition channels innovation management and hedgi
Slide 18: H1 2024 Overview
H1 2024 Overview
Slide 19: H1 2024 Overview
H1 2024 Overview Strong underlying progress despite persisting industry headwinds • EBITDA loss materially reduced by 78% to –4.0M€ (-17.9M€ in H1 2023) despite significant industry headwinds and accompanying revenue decline of 39%* versus H1 2023 • Decisive action successfully restructuring and opt
Slide 20: H1 2024 KPIs
H1 2024 KPIs Financial Operational ESG 3.9M€ 300,000+ 4/5 Normalised EBITDA Total contracts Trustpilot score 46%￬ 26% 41% Normalised operating costs EM recurrent Gross Margin Women on the team 13.5M€ 16,118 2.7M+ LTM Normalised EBITDA Total solar contracts Tons of CO2e saved** 250￬ 52% No. 1 ESG Sol
Slide 21: Normalised EBITDA Performance
Normalised EBITDA Performance Consolidated normalized EBITDA, M€ (audited figures) 14,3 4,3 EM SOLAR 27.6 24.6 3,9 9.8 7.2 -5.9 -13.3 -12.6 -20.3 -5,4 FY’22 H1’23 FY’23 H1’24 H1 24 better performance driven by company cost restructuring plan, higher EM profitability (TJ customers), higher installati
Slide 22: Energy Management business
Energy Management business • Established business featuring good recurring cash flow and benefiting from the customer migration to innovative flat rate ‘Tarifa Justa’ subscription product • Despite 38%* decline in revenue, ‘Tarifa Justa’ expanding the gross margin to 26% (22% in H1 2023) with gross
Slide 23: Solar plus Storage business
Solar plus Storage business • Solar plus storage business offering the largest energy cost savings for customers nearing EBITDA breakeven following ongoing focus on optimisation • Loss narrowed by 53% against H1 2023 to Normalised EBITDA of -5.9M€ (-12.4 M€ in H1 2023) despite 44% reduction in reven
Slide 24: Solar P&L
Key Points • Revenue: 45% decrease in revenue due to Solar P&L continued challenges in the residential solar market as pointed by UNEF5. H124 H123 % change • Average installation selling price increased to 10.521€ (vs 7.876€ in H123) ii) higher Key P&L Revenues1 7.6 13.7 -45% battery penetration ove
Slide 25: Energy Management P&L
Key Points Energy Management P&L* • Revenue: significant decrease in electricity price YoY impacting revenue but not gross profit (H123 av 88,9 €/MWh H124 H123 % change vs H124 av 39.1 €/MWh (-56%)) Key P&L Revenues1 88.6 143.1 -38% figures (€m) • Portfolio: broadly stable on year-end Gross profit (
Slide 26: Consolidated P&L
Consolidated P&L Key Points €m H124 H123 % change • Revenue: Group revenue declined by 39% due to the electricity price decline and other headwinds Revenues1 96.2 156.8 -39% COGS -72.3 -129.8 -44% • Gross Margin: 25% (H124) vs. 17% (H123) due to Gross profit2 23.9 27.0 -11% improvement in unit econo
Slide 27: H1 2024: Consolidated Balance Sheet
Total Assets: 124.1M€ Non-current assets: 66.6M€ • Intangible assets: R&D investment reduction H1 2024: Consolidated Balance Sheet vs previous years (2.8M€ in H124 vs 8.8M€ in FY2023) €m • Long-term financ. invest.: 1.6M€; 7M€ reduction coming from the sale of 800 rooftop loans (which generated a 4.
Slide 28: H1 2024: Consolidated Balance Sheet (2)
H1 2024: Consolidated Balance Sheet (2) €m Net equity: -3.2M€ • Own funds: 0.7 M€; 13.7M€ decrease due to net losses of the period (Net Equity of the Parent Company is 41.5M€) 30.06.24 31.12.23 • Valuation adjust.: -3.9M€ (75% of MtM) Net equity -3.2 9.9 Total Liabilities: 127.3M€ Own funds 0.7 14.4
Slide 29: Financing
Financing
Slide 30: Financing
Financing • In November 2024, incorporated strategic partner and investor ICOSIUM Investment, S.L. with 22M€ investment in two phases • Continuous progress in strengthening the financial structure of the Company with broad support of the financial market • 7M€ MARF Commercial paper due in July 2024,
Slide 31: Incorporation of Strategic Partner
Incorporation of Strategic Partner Growth strategy strengthened by 22M€ investment from ICOSIUM, a Spanish industrial investor committed to advancing energy transition* Initial Phase Final Phase ▪ 6.48M€ Investment ▪ To be completed in the following months ▪ Capital Contribution ▪ 15.52M€ Investment
Slide 32: Key Focuses and Summary
Key Focuses and Summary
Slide 33: Key Focuses
Key Focuses Continuing optimising and strengthening the business Costs and efficiencies Product and innovation Further reduction in operating costs, and Roll-out of existing products, and continued continued lowering of group breakeven position innovation with trialling of further products Solar bre
Slide 34: Summary and Outlook
Summary and Outlook Further progress to come • H1 24 a period of progress despite the persisting industry headwinds and challenges • Decisive action successfully restructuring and optimising the business, financial structure strengthened • Key operational metrics showing good progress across both En
Slide 35: Contact us at investors@holaluz.com
Contact us at investors@holaluz.com 35
Slide 36: Appendix
Appendix
Slide 37: Flywheel
Flywheel Higher demand of electricity More customers without panels join the network More energy producess : join the network ' petro, me (offtakers) « olaluz < (prosummers) my ON A fray obs PEE i il ats 9, oy FTN + a hs Lower the cost of electricity