Etrion Corp. · OTC:ETRXF
Etrion — Pareto Securities: Power and Renewable Energy Conference 2019
19 slides from Etrion's conference presentation, Jan 17, 2019
Slide 1: Powered by the Sun
Pareto Securities: Power and Renewable Energy Conference Oslo – January 17th 2019 Powered by the Sun Developing, building and operating solar power generation plants 1 www.etrion.com | TSX: ETX
Slide 2: Disclaimer
Disclaimer These materials and the information contained herein are being presented by Etrion Corporation (the “Company”). These materials do not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities, nor sh
Slide 3: Corporate Overview
etnon Corporate Overview
Slide 4: Etrion – The renewable platform of the Lundin Group
Etrion – The renewable platform of the Lundin Group Mining Sector Oil & Gas/Energy Sector THE LUNDIN GROUP WORLDWIDE OPERATIONS 4 www.etrion.com | TSX: ETX
Slide 5: Etrion Corporation
Etrion Corporation Company Overview Financial Summary • International solar development platform, Recent Share Price (TSX/OMX: ETX) C$0.23 / SEK 1.57 focused today in Japan, third largest Shares Outstanding 334.1MM energy market Lundin Family Ownership 36.0% • 12 solar plants operational with aggreg
Slide 6: Our focus is Japan
2 Our focus is Japan 1 3rd largest energy market in the world 2 Solar supported by a Feed-in-Tariff program ▪ Expected 2 times growth in solar from 30GW to 60GW by 2030 3 Among highest electricity prices in OECD 1.7% 7% 3% 32.3% 20-22% 15-17% 4 Strategic partnerships 11% 2016A 2030E 5 Low cost finan
Slide 7: Current track record 2013-2018 results
7 Current track record 2013-2018 results Misawa – 9.5MW Shizukuishi – 24 MW Komatsu – 13.2 MW Mito – 9.3 MW 7 www.etrion.com | TSX: ETX
Slide 8: Guidance 2018
Guidance 2018 Etrion has reviewed the previously released guidance in light of the (unaudited) performance as of the end of November 2018 and has concluded that the full year results will be above the high end of the guidance. 8 www.etrion.com | TSX: ETX
Slide 9: Our next catalyst event – Niigata 45 MW project
Our next catalyst event – Niigata 45 MW project Misawa – 9.5MW Shizukuishi – 24 MW Niigata – 45 MW Mito – 9.3 MW Komatsu – 13.2 MW 9 www.etrion.com | TSX: ETX
Slide 10: Niigata – Development activities
Niigata – Development activities (1) Complex site on a hill surrounded by villages with prior history of flooding • (2) Over 10 different communities affected and 100 individual owners. All parties signed agreement in favor of project Oyachi Town Miyajima Town Nanaura Town PV Park Pond *Image is for
Slide 11: Niigata Project Timeline
Niigata Project Timeline 2018 2019 Q1-18 Q2-18 SEP OCT NOV DEC JAN FEB MAR Q2-19 Land purchase Civil work plan & Layout Quotation, EPC Contract Communities consent Forest Development permits Financial Close Construction PROJET ON TRACK TO REACH FINANCIAL CLOSE BY Q1-2019 • Project benefits from a 20
Slide 12: Growth Opportunities in the FiT program
Growth Opportunities in the FiT program Installed Capacity Approved Capacity Balance Category (MWp) (MWp) (MWp) PV Solar (House) 5,588 6,459 871 PV Solar (Industrial) 33,824 60,459 26,635 Wind 929 8,200 7,271 Biomass 1,000 14,612 13,612 Note: Approved capacity is adjusted after dropping 35.5 GW canc
Slide 13: Etrion Japanese backlog and new METI rules
Etrion Japanese backlog and new METI rules Mie Prefecture Niigata Kumamoto 60 MW 45 MW 45MW • Project not likely to be • Project not affected by • Project currently under affected by new METI rules new METI rules evaluation of overall • Forest Development filed • Development feasibility due to new M
Slide 14: Q3-18 Financial Update
etnon Q3-18 Financial Update
Slide 15: Financial results
Financial results Etrion consolidated results Q3-18 Segment information Q3-17(1) Q3-18(2) US$ millions Japan Corp TOTAL Revenues 6.2 - 6.2 6.0 +27% Operating expenses (1.3) - (1.3) 5.0 G&A expenses (0.1) (1.1) (1.2) 4.0 Additional termination fee - 0.2 0.2 Other income 0.3 - 0.0 0.3 3.0 6.2 US$ mill
Slide 16: Financial position
Financial position Consolidated Balance Sheet September 30, 2018 US$ millions Japan Corp TOTAL ▪ Etrion has a working capital of $26.7 Property, plant and equipment 143.3 0.1 143.3 million and a consolidated cash position of $30.4 million, of which $12.1 million is Cash and cash equivalents 18.3 12.
Slide 17: Summary
Summary
Slide 18: In summary
In summary • Company on track to double its install capacity by finalizing Niigata 45 MW project • Niigata project is fully funded • High probability to monetize this year remaining 100 MW of backlog • Brownfield market remains active in Japan with upside opportunities to increase pipeline in the ne
Slide 19: Contact Information
Contact Information Christian Lacueva Marco A. Northland Martin Oravec Chief Financial Officer Chief Executive Officer Chief Investment Officer clacueva@etrion.com mnorthland@etrion.com moravec@etrion.com Etrion Corporation Rue du Commerce 4 1204 Geneva, Switzerland info@etrion.com www.etrion.com ww
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