Slide 1: FY23 Results Presentation
1 LGI LIMITED ABN 49 138 085 551 People engineering a clean energy, zero carbon future FY23 Results Presentation
Slide 2: Disclaimer
www.lgi.com.au LGI Limited – FY23 Results 2 Disclaimer This document has been prepared by LGI Limited ACN 138 085 551 (LGI or the Company) to provide summary Australia, including Australian Securities and Investments Commission (ASIC), or any other jurisdiction. information about the Company and its
Slide 3: Presenting Today
www.lgi.com.au LGI Limited – FY23 Results 3 Presenting Today ADAM BLOOMER DR. JESSICA NORTH JARRYD DORAN DEAN WILKINSON Managing Director and Executive Director and Chief Operating Officer Chief Financial Officer Chief Executive Officer Co-Chief Executive Officer Over 15 years of engineering and CFO
Slide 4: Contents
4 Contents 1. Business highlights LGI Limited - FY23 Results 2. Detailed Operational Information 3. Financial Information 4. Strategy, Growth and Outlook www.lgi.com.au Toowoomba Power Station
Slide 5: 1. Business Highlights
www.lgi.com.au LGI Limited – FY23 Results 5 1. Business Highlights
Slide 6: LGI geographic footprint
6 LGI geographic footprint At the date of this presentation, LGI has entered into contracts to develop 3 new projects at Esk, Qunaba and Bathurst landfills. LGI Limited - FY23 Results LGI will be working to register Esk and Qunaba as carbon abatement sites and Bathurst is an Infrastructure Construct
Slide 7: LGI FY23 Highlights - People
www.lgi.com.au LGI Limited - FY23 Results 7 LGI FY23 Highlights People 72,816 hours (FY22: 55,600 hours) worked across the team 1 safety lost time injury (FY22: 1) Staff retention 94.2% Staff growth 33.3%
Slide 8: LGI FY23 Highlights - Operations
www.lgi.com.au LGI Limited - FY23 Results 8 LGI FY23 Highlights Operations Biogas flows 113.0 Mm³ c increase of 12.6% ¹ Renewable electricity generation 94,435 MWhs c increase of 7.9% ¹ Generation fleet avilability 96% fleet target of 95% Creation of carbon units 420,804 c increase of 4.6% ¹ 1 Compa
Slide 9: LGI FY23 Highlights - Financial
www.lgi.com.au LGI Limited - FY23 Results 9 LGI FY23 Highlights Financial Net Revenue 1 5 Pro Forma EBITDA 1 $30.4 m $14.4 m Up 26.6% ² Up 13.9% ² EBIT 1 EBITDA Margin 1 $9.8 m 47% Up 14.5% ² Down -514 bcp bcp ² NPAT 4 Operating cashflow 3 $6.4 m $8.0 m Up 34.9% ² Down 10.% ² 1 Pro forma representin
Slide 10: Electricity and ACCU price movement
10 Electricity and ACCU price movement Profitability Drivers compared to EBITDA movement Of the 3 key commodities which create the bulk of Key commodity price movements and EBITDA LGI’s revenue, 2 of them declined in value across movement 130 2023. However, LGI was able to grow EBITDA in Starting in
Slide 11: 2. Detailed Operational Information
www.lgi.com.au LGI Limited – FY23 Results 11 2. Detailed Operational Information
Slide 12: Operational Performance: Biogas flows
www.lgi.com.au LGI Limited - FY23 Results 12 Operational Performance Biogas flows • Biogas flows increased 13% YoY • Number of wells installed for FY23: 158 • Focus on Canberra site at Mugga Lane in anticipation of additional generators and export capacity, with biogas flows increasing 27.1% to 31.9
Slide 13: Operational Performance: Renewable Electricity Generation
www.lgi.com.au LGI Limited - FY23 Results 13 Operational Performance Renewable Electricity Generation • Renewable electricity generation increased 7.9% YoY • Commissioning of Toowoomba in December 2022, meeting forecast delivery date • Generator availability (total amount of time gen set is capable
Slide 14: Operational Performance: ACCUs
www.lgi.com.au LGI Limited - FY23 Results 14 Operational Performance Australian Carbon Credit Units (ACCUs) • The number of ACCUS created increased 4.6% YoY • Increased biogas flows had a direct influence on the number of ACCUs created in FY23
Slide 15: DACs in operation on a typical day in June
15 DACs in operation on a typical day in June Dynamic Asset Control Caboolture operation 10 June 2023 System (DACs) 300 100% 90% Generation as a percentage of total available 250 DACs was delivered in FY23, operating for the later 80% 200 part of the year, controlling generation at three 70% LGI Lim
Slide 16: Project Pipeline
www.lgi.com.au LGI Limited – FY23 Results 16 Project Pipeline Steady progress on contracted projects • LGI continues to focus on near term contracted projects • Expanding our carbon abatement portfolio with new sites, and continuing to maximise biogas recovery from existing sites • Material increase
Slide 17: Project Pipeline
www.lgi.com.au LGI Limited – FY23 Results 17 Project Pipeline Steady progress on contracted projects with accretive capex Project Status Carbon abatement projects BD team promoting the benefits of landfill biogas capture to landfill owners and operators. DACs Already deployed to all generating sites
Slide 18: 3. Detailed Financial Information
www.lgi.com.au LGI Limited – FY23 Results 18 3. Detailed Financial Information
Slide 19: Revenue
www.lgi.com.au LGI Limited - FY23 Results 19 Revenue Revenue growth – electricity revenue increasing Total revenue growth 27% YoY, all revenue streams grew in FY23 LGI continues to create revenue from multiple streams Electricity revenue was a higher portion of revenue in FY23 #039;000 FY2023 FY2022 Ch
Slide 20: Profitability and return
www.lgi.com.au LGI Limited – FY23 Results 20 Profitability and return Profit increases #039;000 FY2023 FY2022 Change (impact on NPAT) LGI pro forma EBITDA up 14% Statutory Revenue and Other Income (excluding interest income) 32,303 25,472 27% 2 Net Revenue 30,419 24,037 27% 1 • Gas flows contributed to
Slide 21: Balance sheet
www.lgi.com.au LGI Limited – FY23 Results 21 Balance sheet #039;000 as at 30 June 23 as at 30 June 22 Statutory Statutory Assets Reduction in debt, growth of assets Cash 52 889 Trade receivables 1,157 3,366 ACCU environmental certificates 11,402 7,505 Initially IPO funds have been used to reduce debt,
Slide 22: Capital Expenditure
22 Capital Expenditure Capital Expenditure for FY23 includes • Completion of Toowoomba power station • Preparation for Canberra Power station expansion including new generation units • Generation units for Nowra Power station LGI Limited - FY23 Results • Construction of additional flares Toowoomba P
Slide 23: Cash flow
www.lgi.com.au LGI Limited – FY23 Results 23 Cash flow (#039;000) FY23 FY22 LGI operating cash flow positive Pro forma EBITDA 14,416 12,652 Pro forma operating cash flow 10% lower pcp. Statutory Operating cash flow 6,958 7,404 Pro forma adjustment in relation to the IPO 1,000 1,452 Proforma EBITDA cash
Slide 24: Debt and debt facilities
www.lgi.com.au LGI Limited – FY23 Results 24 Debt and debt facilities Substantial reduction in debt facility (#039;000) as at 30 June 23 as at 30 June 22 Leases 1,299 1,518 LGI has substantially reduced the debt balance YoY Balance of debt facility 1,500 19,850 Gross debt 2,799 21,368 (87%). Cash and c
Slide 25: 4. Strategy and Growth
www.lgi.com.au LGI Limited – FY23 Results 25 4. Strategy and Growth
Slide 26: FY24 Priorities
26 FY24 Priorities Continue to support our people, with workplace health and safety initiatives, training and career development Expansion of power stations, in particular Canberra, LGI Limited - FY23 Results Dakabin and Nowra Work on upgrading network connections on all generation sites Roll out DA
Slide 27: Outlook Statement
www.lgi.com.au LGI Limited - FY23 Results 27 Outlook Statement LGI will continue to increase its recovered biogas volumes in FY24 by 9% to 14% on the pcp, resulting in production of more MWhs and ACCUs. There has been volatility in ACCU spot pricing over the last 12 months and it’s expected to conti
Slide 28: Questions
28 LGI Limited - FY23 Results Questions www.lgi.com.au Jenbacher J320 Toowoomba Power Station
Slide 29: Additional Financial Information
www.lgi.com.au LGI Limited – FY23 Results 29 Additional Financial Information
Slide 30: Generation segment
www.lgi.com.au LGI Limited – FY23 Results 30 Generation segment Profit increases FY23 FY22 Statutory Statutory Change Operating metrics Generation segment Gross margin up 37% Biogas flows 2 (million cubic meters: Mcm) 77.1 65.1 18% Megawatt hours (MWhs) generated 94,435 87,516 8% Profit drivers Larg
Slide 31: Carbon Abatement segment
www.lgi.com.au LGI Limited – FY23 Results 31 Carbon Abatement segment Profit increases FY23 FY22 Statutory Statutory Change Operating metrics Generation segment Gross margin on par with Biogas flows 2 (million cubic meters: mcm) 89.9 78.8 14% previous year. ACCUs created or acquired 420,804 402,225
Slide 32: Infrastructure Construction and Site Management segment
www.lgi.com.au LGI Limited – FY23 Results 32 Infrastructure Construction and Site Management segment Profit increases FY23 FY22 Statutory Statutory Change Profitability Infrastructure Construction and Site Management Infrastructure construction revenue (#039;000) 1,643 891 84% Site Management revenue (
Slide 33: Financial Reconciliation to Statutory Results
www.lgi.com.au LGI Limited – FY23 Results 33 Financial Reconciliation to Statutory Results FY23 FY22 Statutory Statutory before Pro forma After Pro forma Pro forma After Pro before Pro #039;000 Pro forma items items items items forma items forma items Revenue 32,303 - 32,303 25,472 - 25,472 EBITDA 13,3
Slide 34: LGI LIMITED
LGI LIMITED For a better and cleaner future. AUSTRALIA ABN. 49 138 085 551 57 Harvey Street North Eagle Farm 4009 QLD 07 3711 2225 enquiries@lgi.com.au www.lgi.com.au