Elmera Group Asa · OSL:ELMRA
Elmera Group Asa — Q1 2023 Earnings Presentation
23 slides from Elmera Group Asa's earnings presentation, 2023
Slide 1: Quarterly presentation Q1 2023
ROLF BARMEN (CEO) HENNING NORDGULEN (CFO)
Slide 2: Q1 2023 highlights
• Net revenue adj. NOK 534m (+8% YoY), EBIT adj. NOK 198m (+15% YoY) and volume sold 5.8 TWh (flat YoY) • The phase-out strategy for the variable product portfolio has had a significant positive impact on the Consumer segment in the quarter, balancing the losses from Q4 ‘22 • The Business segment co
Slide 3: Elspot price and market development
• The elspot price remains relatively high, with volatility intra quarter driven Weekly elspot prices (NOK/kWh)1 by variations in consumption and wind production 4,0 • Price volatility more in line with normal historical levels – reduced 3,5 compared to the last two extraordinary quarters 3,0 • High
Slide 4: Telia transaction completed
• The transaction with Telia was completed on 21 April • The guaranteed consideration of NOK 115m for 90% of the customer portfolio has been received • Calculation of any additional payment will occur once customer migration is completed and will depend on the number of successfully migrated custome
Slide 5: Deliveries and volume per segment
DELIVERIES AND VOLUME PER SEGMENT Consumer segment Business segment Nordic segment Deliveries (thousands) 663 661 664 685 684 115 117 117 120 128 177 164 162 149 134 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 +3% avg. volume per delivery YoY Flat avg. v
Slide 6: Growth initiatives
• Positive development in many of the Group’s growth initiatives • Fjordkraft Mobile expected from break even to cash positive after the migration to Telia’s network in Q2 ‘23 • High penetration of the smart phone application among Alliance partners • Strong pipeline of solar panel installations in
Slide 7: Financial review
Q1 2023 HENNING NORDGULEN (CFO) Financial review ~ 7 Ee Elmera Group
Slide 8: Group net revenue adj. and EBIT adj.
Group Net revenue adj. (NOKm) Group EBIT adj. (NOKm) 4 18 6 10 (10) (2) 8 29 516 534 496 198 173 Q1 22 Consumer Business NGI Nordic Q1 23 Q1 22 Consumer Business NGI Nordic Q1 23 • 8% growth in net revenue adj. YoY, with positive development across all segments • EBIT adj. increase 15% YoY, driven b
Slide 9: Consumer and Business segments
Consumer segment Business segment Net revenue adj. (NOKm) Net revenue adj. (NOKm) 300 300 Consumer: 200 200 • Phase-out strategy for variable products and increased margins 270 276 247 237 on spot products contributing to 100 100 153 166 169 176 net revenue growth 117 107 0 0 Q1 22 Q2 22 Q3 22 Q4 22
Slide 10: Nordic and New Growth Initiatives segments
Nordic segment New Growth Initiatives segment Net revenue adj. (NOKm) Net revenue adj. (NOKm) 75 75 Nordic: • Positive trend in the segment, as 50 50 legacy fixed price contract volume with profile risk tapers off 25 51 50 25 32 28 28 28 32 31 27 18 New Growth Initiatives: 0 0 • Net revenue growth Y
Slide 11: Group OPEX reduction target
Group OPEX adj. (NOKm) 400 1 400 1 251 1 263 1 177 1 202 350 1 144 1 200 300 • Target NOK 100m reduction in Group OPEX run-rate at 1 000 year-end 2023 compared to year-end 2022 250 800 • Number of call centres will be reduced from five to two, 200 centralising in Bergen and Sandefjord 344 336 600 32
Slide 12: Net cash and net working capital
Net cash (NOKm) Net working capital (NOKm) (1 465) 900 (1 690) 533 «Cash EBIT adj.» in the quarter: NOK 209m -588 (16) (41) ( 368) (66) 266 Net cash Change in NWC EBITDA adj. CAPEX ex. Payments to Non-cash NWC Net cash Q1 2022 Q4 2022 Q1 2023 31.12.22 M&A obtain contract elements and 31.03.23 assets
Slide 13: Outlook
Outlook ROLF BARMEN (CEO) —= Elmera Group
Slide 14: A leading player in the Nordic electricity market
A leading player in the Nordic electricity market Elmera Group provides consumers, businesses and the wholesale market with electricity, billing & rating services and electricity related technology solutions. Quarterly presentation | Q1 2023 14
Slide 15: Strategic focus areas and activities
Strategic focus areas and activities ▪ Focus on cross border expansion and further development of Increase penetration in the products and services as well as customer growth Business and Nordic segments ▪ Phase out of legacy fixed price contracts with profile risk Revenue growth ▪ Phase-out strateg
Slide 16: Q&A
Q&A ElmeraGroup
Slide 17: Appendix
Appendix
Slide 18: Quarterly presentation | Q1 2023
Quarterly presentation | Q1 2023 18
Slide 19: Quarterly presentation | Q1 2023
Quarterly presentation | Q1 2023 19
Slide 20: Quarterly presentation | Q1 2023
Quarterly presentation | Q1 2023 20
Slide 21: Quarterly presentation | Q1 2023
Quarterly presentation | Q1 2023 21
Slide 22: Quarterly presentation | Q1 2023
Quarterly presentation | Q1 2023 22
Slide 23: Quarterly presentation | Q1 2023
Quarterly presentation | Q1 2023 23