Ameresco, Inc. · NYSE:AMRC
Ameresco — Q2 2018 Earnings Presentation
18 slides from Ameresco's earnings presentation, Aug 7, 2018
Slide 1: Q2 2018 Supplemental Information
Q2 2018 SUPPLEMENTAL INFORMATION AUGUST 7, 2018
Slide 2: Forward Looking Statements
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 and net income, and other statements containing the words “projec
Slide 3: Q2 2018 Highlights
Q2 2018 HIGHLIGHTS $21.4M $8.7M +39% $197M +18% Adj. EBITDA Net Income Q2 EBITDA driven by EBITDA growth Revenue growth greater project EBITDA up 39% y/y Revenue up 18% y/y up 49% y/y revenue and energy Revenue assets Q2 Revenue driven by an increase in projects and energy assets ©2018 Ameresco, Inc
Slide 4: Energy Efficiency: Island Palm Communities
ENERGY EFFICIENCY: ISLAND PALM COMMUNITIES Over 150,000 LED lights within the houses and 3,000 street lights. ENERGY SECURITY MODERNIZATION PROJECT Over 5,000 high efficiency water source heat pumps with smart thermostats, water fixture replacements, insulation and sealing work. Partnership with Len
Slide 5: Sources of Revenue Q2 2018
SOURCES OF REVENUE Q2 2018 $139.0M $38.7M $19.3M Projects Recurring Other Energy efficiency and Energy & incentive revenue from Services, software and renewable energy projects owned solar and renewable gas integrated PV assets; plus recurring O&M from projects ©2018 Ameresco, Inc. All rights reserv
Slide 6: 63% of Profit Came from Recurring Lines of Business
63% OF PROFIT CAME FROM RECURRING LINES OF BUSINESS YTD 2018 RECURRING Other 21% O&M 6% Assets 13% Projects 12% $37M 31% Projects $364M ` O&M Adjusted 69% Revenue 9% EBITDA* Other 10% Assets 50% 63% * Adjusted EBITDA percentage amounts exclude unallocated corporate expenses. ©2018 Ameresco, Inc. All
Slide 7: Energy Asset Portfolio – 6/30/2018
ENERGY ASSET PORTFOLIO – 6/30/2018 RNG 16% Renewable In Energy Assets Development/ Gas 64% 212 MWe Construction Solar 78% 114 MWe Solar 36% Other 6% 212 MWe of Energy Assets. Renewable Gas 114 MWe in development & construction. is 135 MWe, Solar is 77 MW* Renewable Gas is 18 MWe, Solar is 90 MW, Oth
Slide 8: Diversified Portfolio of Energy Assets
DIVERSIFIED PORTFOLIO OF ENERGY ASSETS OPERATING DEVELOPMENT/ CONSTRUCTION ©2018 Ameresco, Inc. All rights reserved. 8
Slide 9: Energy Asset Balance Sheet – 6/30/2018
ENERGY ASSET BALANCE SHEET – 6/30/2018 Energy Energy Assets Operating Total Debt $329M Debt $405M $256M $203M Development/ Construction Corporate $76M $53M $76M out of the $405M energy assets on $203M out of the $256M of total debt on our our balance sheet are still in development or balance sheet i
Slide 10: Ameresco Has Strong Multi-Year Visibility
AMERESCO HAS STRONG MULTI-YEAR VISIBILITY Contracted Project Backlog: 12-36 months to Revenue $679M Awarded Project Backlog: 18-42 months to Revenue $1.3B Operating Energy Assets: 13 year weighted average PPA remaining $850M* *Estimated contracted revenue and incentives during PPA period $894M O&M B
Slide 11: Sustainable and Profitable Business Model
SUSTAINABLE AND PROFITABLE BUSINESS MODEL EXPANDING EARNINGS AT A FASTER RATE THAN REVENUE BY GROWING HIGHER MARGIN RECURRING LINES OF BUSINESS Revenue ($M) Adjusted EBITDA ($M) 82 800 717 63 631 651 574 593 56 46 41 30 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 Guidance Guidance Mi
Slide 12: Appendix
APPENDIX
Slide 13: Energy Asset Metrics
ENERGY ASSET METRICS Energy Asset Metrics (in thousands, except megawatt equivalents ("MWe")) As of June 30, 2018 2017 MWe $ MWe $ Energy Assets: In Operations 212.0 329,131 175.0 244,686 In Development/Construction 114.4 75,757 95.2 103,786 Total Energy Assets 326.4 $404,888 270.2 $348,472 Three Mo
Slide 14: GAAP to Non-GAAP Reconciliation
GAAP TO NON-GAAP RECONCILIATION Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Adjusted EBITDA: Net income attributable to common shareholders $8,702 $5,831 $15,690 $5,187 Impact of redeemable non-controlling interests - 129
Slide 15: Performance by Segment
PERFORMANCE BY SEGMENT Performance by Segment (in thousands): Three Months Ended Six Months Ended Adjusted Adjusted Revenues EBITDA Revenues EBITDA June 30, 2018 U.S. Regions $88,778 $7,268 $163,469 $14,567 U.S. Federal 58,214 10,998 105,999 17,739 Canada 7,958 464 16,862 (587) Non-Solar DG 19,921 8
Slide 16: Segments by Line of Business – Three Months
SEGMENTS BY LINE OF BUSINESS – THREE MONTHS Segment Revenues by Line of Business for the Three Months Ended June 30 (in thousands): Non-Solar Total U.S. Regions U.S. Federal Canada DG All Other Consolidated 2018 Project $80,877 $47,437 $5,316 $1,201 $4,200 $139,031 Energy Assets 3,799 1,140 1,017 16
Slide 17: Segments by Line of Business – Six Months
SEGMENTS BY LINE OF BUSINESS – SIX MONTHS Segment Revenues by Line of Business for the Six Months Ended June 30 (in thousands): Non-Solar Total U.S. Regions U.S. Federal Canada DG All Other Consolidated 2018 Project $146,317 $85,275 $12,253 $2,100 $4,770 $250,715 Energy Assets 8,780 1,909 1,383 31,6
Slide 18: Your Trusted Sustainability Partner
Your Trusted Sustainability Partner ameresco.com