Ameresco, Inc. · NYSE:AMRC
Ameresco — Q3 2017 Earnings Presentation
15 slides from Ameresco's earnings presentation, Oct 31, 2017
Slide 1: Q3 2017 Supplemental Information
Q3 2017 SUPPLEMENTAL INFORMATION OCTOBER 31, 2017
Slide 2: Use of Non-GAAP Financial Measures
©2017 Ameresco, Inc. All rights reserved. 2 USE OF NON-GAAP FINANCIAL MEASURES Use of Non-GAAP Financial Measures This presentation includes references to adjusted EBITDA, adjusted cash from operations, non-GAAP net income and non-GAAP earnings per share, which are non-GAAP financial measures. For a
Slide 3: Q3 2017 Highlights
©2017 Ameresco, Inc. All rights reserved. 3 Q3 2017 HIGHLIGHTS $20.8M $8.5M +9% $204.7M +13% Adj. EBITDA Q3 EBITDA driven by greater project revenue EBITDA growth EBITDA up 9% y/y Revenue growth Revenue up 13% y/y Revenue Q3 Revenue driven by an increase in project revenues in our U.S. Federal group
Slide 4: Backlog Provides Visibility for 2-4 Years of Project Revenue
©2017 Ameresco, Inc. All rights reserved. 4 BACKLOG PROVIDES VISIBILITY FOR 2-4 YEARS OF PROJECT REVENUE BACKLOG UP 15% Total project backlog up 15% y/y to $1.7B, another record high, providing approximately 2-4 years of visibility Contracted Backlog We added $147M in new contracts to our Contracted
Slide 5: Sources of Revenue Q3 2017
©2017 Ameresco, Inc. All rights reserved. 5 SOURCES OF REVENUE Q3 2017 $20.6M $33.3M $150.8M Projects Energy efficiency and renewable energy projects Recurring Energy & incentive revenue from owned solar and renewable gas assets; plus recurring O&M from projects Other Services, software and integrat
Slide 6: 55% of Profit Comes from Recurring Line of Business
©2017 Ameresco, Inc. All rights reserved. 6 55% OF PROFIT COMES FROM RECURRING LINE OF BUSINESS Q3 2017 16% Projects 74% Assets 9% O&M 7% Other 10% $204.7M REVENUE Projects 38% Assets 41% O&M 14% Other 7% $20.8M Adjusted EBITDA* 55% * Adjusted EBITDA percentage amounts exclude unallocated corporate
Slide 7: Energy Asset Portfolio – 9/30/2017
©2017 Ameresco, Inc. All rights reserved. 7 ENERGY ASSET PORTFOLIO – 9/30/2017 183 MWe of Energy Assets. Renewable Gas is 122MWe, Solar is 61MW* Energy Assets 183 MWe 67% Renewable Gas 33% Solar In Development Construction 87 MWe 67% Solar 26% Renewable Gas 87 MWe in development & construction. Rene
Slide 8: Energy Asset Balance Sheet – 9/30/2017
©2017 Ameresco, Inc. All rights reserved. 8 ENERGY ASSET BALANCE SHEET – 9/30/2017 $82M out of the $357M energy assets on our balance sheet are still in development or construction. $146M out of the $202M of total debt on our balance sheet is debt associated with our energy assets. Energy Assets $35
Slide 9: Appendix
APPENDIX AMERESCO@
Slide 10: Energy Asset Metrics
©2017 Ameresco, Inc. All rights reserved. 10 ENERGY ASSET METRICS MWe $ MWe $ Energy Assets: In Operations 183.4 274,679$ 162.0 230,738$ In Construction 87.1 82,476$ 60.0 48,519$ Total Energy Assets 270.5 357,155$ 222.0 279,257$ 2017 2016 2017 2016 Energy Assets Performance: Revenues 18,525$ 17,980$
Slide 11: GAAP to Non-GAAP Reconciliation
©2017 Ameresco, Inc. All rights reserved. 11 GAAP TO NON-GAAP RECONCILIATION 2017 2016 2017 2016 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Adjusted EBITDA: Net income attributable to common shareholders 8,493$ 5,715$ 13,680$ 8,763$ Impact of redeemable non-controlling interests 298 95 (673) (1
Slide 12: Performance by Segment
©2017 Ameresco, Inc. All rights reserved. 12 PERFORMANCE BY SEGMENT Revenues Adjusted EBITDA Revenues Adjusted EBITDA September 30, 2017 U.S. Regions 78,185$ 4,523$ 180,770$ 4,577$ U.S. Federal 63,873 9,673 170,903 25,900 Canada 14,719 1,205 33,211 2,426 Small-Scale Infrastructure 27,295 10,404 64,8
Slide 13: Line of Business Revenue – Three Months
©2017 Ameresco, Inc. All rights reserved. 13 LINE OF BUSINESS REVENUE – THREE MONTHS U.S. Regions U.S. Federal Canada Small-Scale Infrastructure All Other Total Consolidated 2017 Revenues: Project 72,720$ 53,818$ 11,959$ 9,526$ 2,745$ 150,768$ Energy Assets — 1,152 1,013 16,080 280 18,525 O&M 4,251
Slide 14: Line of Business Revenue – Nine Months
©2017 Ameresco, Inc. All rights reserved. 14 LINE OF BUSINESS REVENUE – NINE MONTHS U.S. Regions U.S. Federal Canada Small-Scale Infrastructure All Other Total Consolidated 2017 Revenues: Project 165,217$ 139,814$ 26,124$ 13,806$ 4,345$ 349,306$ Energy Assets - 2,688 2,316 45,952 845 51,801 O&M 12,7
Slide 15: Your Trusted Sustainability Partner
Your Trusted Sustainability Partner ameresco.com