Ellomay Capital Ltd · AMEX:ELLO
Ellomay Capital — Investor Presentation (June 2017)
31 slides from Ellomay Capital's investor presentation, Jun 29, 2017
Slide 1: Investor Presentation June 2017
Investor Presentation June 2017 Investor Presentation June 2017
Slide 2: General disclaimer 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 (NYSE MKT; TASE: ELLO)
Ellomay operates in the energy and infrastructure growing sectors including renewable and clean energy. The Company’s shares are traded on the NYSE MKT and the Tel Aviv Stock Exchange with a market cap of approximately $101 million (as of June 26, 2017) and the Company is controlled by Mr. Shlomo Ne
Slide 4: Corporate Structure
Dorad Energy Ltd. (“Dorad”) PV Kanir Partnership Shlomo Nehama 31.4%2 31%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 connec
Slide 5: Milestones
Entrance to Italian PV Market (acquisitions 2010 - 2013) Acquired indirect equity interest in Dorad Energy Ltd. Listing in NYSE MKT 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 Plant’
Slide 6: Portfolio Summary
850 MW2 850 Nm3/h1 22.6 MWp 7.9 MWp Installed Capacity ~ 9.4% 51% 100% 100% % Ownership ~ $33M5 ~ $6.9M4 ~ $73.7M4 ~ $20.5M4 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 installations u
Slide 7: Photovoltaic Operations: Italy and Spain
Photovoltaic Operations: Italy and Spain
Slide 8: Growth of clean 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: The Dorad Power Plant
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
Q1 2017 Q1 2016 2016 Revenues 675 610 2,300 Gross profit from operating the power plant 114 97 294 Operating profit 110 92 275 Net income 38 44 51 EBITDA1 160 144 484 Finance expenses, net (60) (39) (219) Net increase in cash and cash equivalents for the period, including effect of exchange rate flu
Slide 14: Pumped-Storage Development Project Manara Cliff, Israel
Pumped-Storage Development Project Manara Cliff, Israel
Slide 15: 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 16: 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 17: 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 18: 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 19: 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 20: 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 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 PV Plant in Talaván
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 March 31, 2016 % Of BS March 31, 2017 % Of BS Cash and cash equivalent, Marketable securities, Short-term deposits 24,673 16% 24,922 15% 61,979 32% Financial Debt* 58,752 38% 61,080 37% 96,768 50% Financial Debt, net* 34,079 22% 36,158 22% 34,789 18% Property, plant and equ
Slide 26: Key Financial Ratios
Key Financial Ratios December 31, 2016 March 31, 2016 March 31, 2017 Financial Debt to CAP (A/D) 40% 40% 52% Financial Debt, net to CAP (B/D) 23% 23% 19% Financial Debt to Total equity (A/C) 66% 66% 109% Financial Debt, net to Total equity (B/C) 38% 39% 39% 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! Investor Relations and Company contacts
www.ellomay.com Investor RelationsIshay PotruchGK Investor relations Direct: +972 (0)3-6074717Email: ishay@gk-biz.comwww.gk-biz.com CompanyKalia WeintraubChief Financial OfficerEllomay Capital LTD.9 Rothschild Blvd., Tel AvivDirect: +972-3-7971111Email: miri2@ellomay.com Thank you!
Slide 31: Appendix A – Leverage Ratios
Appendix A – Leverage Ratios As of December 31, As of March 31, As of March 31, 2016 2016 2017 Current liabilities Loans and borrowings $ (1,150) $ (1,205) $ (1,181) Debentures $ (4,989) $ (5,073) $ (5,380) Non-current liabilities Finance lease obligations $ (4,228) $ (4,848) $ (4,210) Long-term loa