Ellomay Capital Ltd · AMEX:ELLO
Ellomay Capital — Investor Presentation (October 2024)
30 slides from Ellomay Capital's investor presentation, Oct 30, 2024
Slide 1: Investors Presentation October 2024
Investors Presentation October 2024 Initiation, Development and Operation of Renewable Energy Projects for the Generation and Storage of Electricity and Gas through a Range of Technologies
Slide 2: Legal Disclaimer
2 Legal Disclaimer General The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including our Annual Report on Form 20 - F for the year ended December 31 , 2023 , and other filings that we make from time to time
Slide 3: Legal Disclaimer (cont.)
3 Legal Disclaimer (cont.) Use of non - IFRS M easures This presentation includes adjusted revenues, EBITDA, adjusted EBITDA, FFO and adjusted FFO forecasts ; EBITDA is defined as income before net finance expenses, taxes, depreciation and amortization, and FFO (funds from operations) is calculated
Slide 4: Our Objectives
4 Our Objectives Continued Growth Growth in the renewable energy activity from development to manufacturing - in Europe, USA, Israel A Profitable and Sustainable Company Generating a stable cash flow from renewable energy and energy storage assets with geographical distribution and using a range of
Slide 5: Forecast Connection of the Projects to the Grid
Forecast Connection of the Projects to the Grid 5 455 MW 522 MW 757 MW 1,086 MW 418 MW 269 MW 800 MW 2024 757 MW - existing 229 MW - Italy 100 MW - USA 229 MW - Italy 40 MW - USA Connected to grid 522 MW - existing 195 MW - Italy 40 MW - USA 455 MW - existing 18 MW - Italy 49 MW - US A 213 MW - Ital
Slide 6: Key events 2024
Key events 2024 6 Israel • The sale of the Talmei Yosef project (solar 9 MW) was completed . In the Manara project construction work at the site was discontinued upon the commencment of the Iron Swords War . The Israeli Electricity Authority extended the project by 16 months . USA • Activity at the
Slide 7: Solar activity — Texas USA
ellomay USA INC a Solar activity — Texas USA
Slide 8: New Operations of the Company - in Texas, USA
8 New Operations of the Company - in Texas, USA Commencement of Operations and Strategy • Commencement of operations - 2023 - in 2023 , Ellomay Capital, through wholly - owned subsidiaries, started the development and construction of a portfolio of photovoltaic projects located in the Dallas, Texas
Slide 9: Projects in Texas
9 Projects in Texas Joint development agreement for building 49 MW solar Location: Dallas metropolitan area Facility type: Several sites under distributed generation regulation Year on which the agreement was signed : 2023 Expected net cost : EUR 38.5M Date of expected connection to the grid: • Q4 2
Slide 10: Energy generation from waste (biogas) - the Netherlands
Energy generation from waste (biogas) - the Netherlands
Slide 11: Waste-to-Energy (Biogas) Projects
11 Waste – to – Energy (Biogas) Projects The biogas segment - expected data by projects 2024 Expected EBITDA* Expected revenues Expected annual gas production capacity Expected own - production of electricity Project EUR 1M EUR 7.9M 8.4 million cubic meters 1MW Groen Gas Gelderland EUR 0.7M EUR 4M 4
Slide 12: Israel
Israel
Slide 13: The Company's Operations in Israel
13 The Company’s Operations in Israel Pumped Storage • The construction of a pumped storage project in the Manara Cliff • Capacity of 156 MWh , continuous operation for 12 hours • Total 1,872 MW storage capacity • The project can be extended to 220 MWh Solar + Storage Projects Development and constr
Slide 14: Pumped Storage Manara Cliff - Under Construction
14 Pumped Storage Manara Cliff - Under Construction Lower reservoir The main entrance tunnel The main entrance tunnel The low pressure water tunnel
Slide 15: Israel - Manara Cliff Pumped Storage Project
15 Israel - Manara Cliff Pumped Storage P roject Total storage capacity of approx. 1,872 MWh Ownership 83.34%: Ellomay Capital Ltd. 16.66%*: Ampa Investments Ltd. Facility type Pumped storage Location Manara Cliff - Israel Expected capacity 156 MW Option to expand 220 MW Expected cost EUR 395M ** Wo
Slide 16: Dorad Power Plant
16 Dorad Power Plant Power plant’s current capacity and structure A power plant with a capacity of approx. 850 MW. Gas - fired or diesel fuel - fired power plant, composed of 12 jet turbines and 2 residual heat turbines (closed cycle). Israeli government resolution to expand the power plant In mid -
Slide 17: Development of Solar Projects in Israel
17 Development of Solar Projects in Israel Connection to the grid License validity Tariff per kWh Capacity Status Project The project was sold Talmei Yosef Solar TBD Market regulation Market regulation 21 MW Urban Building Plan Approved Komemiyut Solar + storage TBD Market regulation Market regulati
Slide 18: Ellomay Capital Limited
ellomay CAPITAL LIMITED
Slide 19: Spain - Solar Projects Connected to the Grid
19 Spain - S solar Projects Connected to the Grid Tariff / PPA Radiation (P50) Capacity Project 20% market price / 80% PPA 1,869 300 MW Talasol )1) Market price 1,909 28 MW Ellomay Solar A EUR 0.22 subsidy per kWh 1,486 1.248 MW SeguiSolar A EUR 0.21 subsidy per kWh 1,533 1.675 MW Rodríguez 1 A EUR
Slide 20: Italy
Italy
Slide 21: Projects in Italy
21 Projects in Italy Geographic Deployment 164.1 MWp Friuli - Venezia Giulia 8 MWp Marche 129.7 MWp Piemonte 160.2 MWp Lazio
Slide 22: Solar Projects in Italy
22 Solar P rojects in Italy Expected date of connection to the grid Geographical location Expected annual capacity (P50) Annual radiation (P50) MW Status Project Connection to grid Lazio 25,512 1,726 14.8 Commercial operation Ello 1 Connection to grid Lazio 8,414 1,702 5.0 Commercial operation Ello
Slide 23: Financial Data
ellomay Financial Data
Slide 24: Financial Forecast
24 Financial Forecast | in EUR million 48.0 27.0 20.0 61.0 37.0 33.0 79.0 53.0 43.0 83.0 56.0 48.0 0 10 20 30 40 50 60 70 80 90 Adjusted revenues * Adjusted EBITDA from projects ** Adjusted FFO from projects ** 2027 2026 2025 2024 2027 2026 2025 2024 2027 2026 2025 2024 ▪ The expected revenues, the
Slide 25: Summary Table of Projects - Financial Data
Summary Table of Projects - Financial Data | in EUR million 25 Expected repayment of principal of bank loans in 2024 Expected interest on bank loans in 2024 Expected debt as of December 31, 2024 Expected adjusted FFO* in 2024 Expected adjusted EBITDA* in 2024 Expected annual revenues in 2024 Capacit
Slide 26: Summary Table of Projects under Development/Construction
Summary Table of Projects under Development/Construction - Financial Data | in EUR million 26 Expected cost Annual expected FFO * Expected annual EBITDA * Expected annual revenues Capacity MW Expected timetable % of ownership Projects Under construction / ready to build EUR 395 EUR 16.4 (1) (2) EUR
Slide 27: Key Balance Sheet Data
Key Balance Sheet Data | in EUR thousand 27 % of assets June 30, 2024 % of assets December 31, 2023 % of assets December 31, 2022 % of assets December 31, 2021 9% 58,531 9% 52,124 9% 49,294 13% 71,585 Cash and cash equivalents, deposits and marketable securities 70% 441,186 69% 422,025 67% 384,291 6
Slide 28: Key financial ratios
28 Key financial ratios June 30, 2024 December 31, 2023 December 31, 2022 December 31, 2021 78% 77% 82% 76% Ratio of financial debt to CAP * 67% 68% 72% 61% Ratio of net financial debt to CAP * * For calculation information see Appendix A Company’s debt Duration (As of October 2024) Annual interest
Slide 29: Appendix A - Leverage Ratios
29 Appendix A - Leverage Ratios | EUR thousand Leverage ratios based on the Company’s balance sheet June 30, 2024 December 31, 2023 December 31, 2022 December 31, 2021 In EUR thousands Current liabilities 10,253 9,784 12,815 126,180 Current maturities of long - term bank loans 5,000 5,000 10,000 16,
Slide 30: Thank you
Thank you For more information Ran Fridrich, CEO | ranf@ellomay.com Kalia Rubenbach, CFO | kaliaw@ellomay.com www.ellomay.com
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