Ellaktor Sa · ATHEX:ELLAKTOR
Ellaktor Sa — El.Tech. Anemos — FY2017 Earnings Presentation
13 slides from Ellaktor Sa's earnings presentation, April 2018
Slide 1: FY 2017 Results
EL.TECH. ANEMOS MEMBER OF ELLAKTOR GROUP FY 2017 Results April 2018
Slide 2: Calendar of main events
Calendar of main events Growth − + 5,3% installed capacity − + 10,7% energy yield Overall performance − 25,3% capacity factor − 98,7% weighted average availability New capacity & upgrading − July: 39,60 MW Lyrkio W/F Operation Permit granted − August: adding 5,00 MW Agia Dynati W/F; upgrading
Slide 3: Financial highlights
Financial highlights Revenues Increased by 10% • Reached € 49,7 ml vs € 45,2 ml in FY 2016, despite lower wind performance data, as new capacity was added EBITDA Increased by 6,6% • Increased to € 33,4 ml vs € 31,3 ml due to increased energy yield • EBITDA margin dropped to 67,2% vs. 69,2%. Before i
Slide 4: Evolution of key P&L figures (IFRS in € ml)
Evolution of key P&L figures (IFRS in € ml) Revenues EBITDA & EBITDA margin (%) 50 70,1% 69,2% 80% 60 67,2% 49,7 45 50 45,2 40 40,1 31,3 33,4 60% 35 40 28,1 30 in € mn in € mn 30 25 40% 20 20 15 20% 10 10 5 0 0 0% 2015 2016 2017 2015 2016 2017 Profit before Tax Net Income after Minorities 11 9,9 16
Slide 5: Evolution of key Balance Sheet figures (IFRS in € ml)
Evolution of key Balance Sheet figures (IFRS in € ml) Total Assets Total Equity 450 409,3 160 139,7 400 140 132,7 352,6 122,4 350 328,6 120 300 100 in € mn in € mn 250 80 200 60 150 100 40 50 20 0 0 2015 2016 2017 2015 2016 2017 Net Debt Operating power plants (as of 31.12.2017) 200 172,3 Wind farms
Slide 6: RES Asset Portfolio (April 2018)
RES Asset Portfolio (April 2018) RES operating plants & pipeline projects by Geography RES projects by development phase (MW) (MW) 39.1 40.0 98.4 72.0 (1) 5.0 472 658 MW 98.0 Pipeline 90.0 9.0 15.0 48.2 114.7 1.2 6.4 9.9 330 24.3 260 60.5 2.0 142 125 155.9 72 18.9 21.10 Application Production Enviro
Slide 7: Strategy Going Forward – Maintain Growth Profile
Strategy Going Forward – Maintain Growth Profile Base is and will continue to be Greece. Focus on WIND. Market Segment Track market developments. Evaluating investment opportunities in European Union. Continue to develop pipeline with high quality sites (capacity factors in line with histo
Slide 8: New wind farm investment program 199,4 MW
New wind farm investment program 199,4 MW (April 2018) PROJECTS' IDs (1) Site MW GWh/yr Wind Turbine Generator €/ΜWh Status Ag. Dynati Ext. Kefalonia 2,35 5 Enercon E-82/2,35 MW FiP 98 Commissioned Thivaikos Viotia 9,9 28 Vestas V 112/3,3 MW FiP 98 Erection completed Gropes Lakonia 18,9 44 Enercon E
Slide 9: Performance
Performance Capacity factors by project FY 2017 vs. FY 2016 Net Income a.m. (€/MWh) 45% 25 40% 2016 2017 20,1 35% 20 17,5 30% 15 25% 20% 10 15% 10% 5 5% 0% 0 2016 2017 Wind, hydro, solar Wind only FY 2016 FY 2017 FY 2016 FY 2017 Capacity factor (%) 26,9% 25,3% Capacity factor (%) 27,0% 25,4% Net Inc
Slide 10: Group Asset Performance Details
Group Asset Performance Details Mean Installed Licensed Operation Energy yield (GWh) annual Long Term FiT Power plant Site Company / SPV Stake Capacity Capacity License Yield (€/MWh) availability (MW) (MW) Date (GWh/yr) 2015 2016 2017 2015-17 (2) Antissa Lesvos EL.TECH.ANEMOS S.A. 100% 4,20 4,20 Oct
Slide 11: Consolidated P&L
Consolidated P&L 31/12/2017 31/12/2016 % change (€ thousands) IFRS IFRS Revenue 49.676 45.188 9,9% Revenues rose by 9,9% despite lower seasonal wind performance data, Cost of goods sold (24.849) (21.826) enhanced by new capacity additions to Gross Margin 24.827 23.362 wind turbine fleet. EBITDA 33
Slide 12: Consolidated Balance Sheet
Consolidated Balance Sheet 31/12/2017 31/12/2016 % change (€ thousands) IFRS IFRS Fixed assets 343.124 278.608 23,2% Non-current assets increased by 20,7% reflecting increased investments in new Intangible assets 14.437 16.902 -14,6% capacity. Other non-current assets 2.062 2.445 -15,7% Current
Slide 13: Consolidated Cash Flows
Consolidated Cash Flows 31/12/2017 31/12/2016 % change (€ thousands) IFRS IFRS Cash Flow from Operations Profit Before Tax 12.810 15.045 -15% Operating cash flows rose overall by Adjustments for: 48% reflecting significant Depreciation 11.295 9.834 Provisions 1.184 2.178 improvement in collecting