Terna Energy Societe Anonyme Commercial Technical Company
Terna Energy Societe Anonyme Commercial Technical — Terna Energy — 9M 2022 Earnings Presentation
14 slides from Terna Energy Societe Anonyme Commercial Technical's earnings presentation, December 2022
Slide 1: 9M 2022 Results
9M 2022 Results December 2022
Slide 2: Disclaimer
Disclaimer We have prepared this document solely for informational purposes. You should not definitively rely upon it or use it to form the definitive basis for any decision, contract, commitment or action whatsoever, with respect to any proposed transaction or otherwise. You and your directors, off
Slide 3: 9M 2022 Highlights
9M 2022 Highlights Solid performance by RES asset base with energy sales up 16.3% y-o-y to € 175.2m • 895MW of installed capacity at end-September 2022 1 • 31.5% load factor in Greece in 9M 2022 vs. 28.6% in 9M 2021 • 1.7TWh of green energy production, +14.3% y-o-y Profitability growth on the back o
Slide 4: RES asset base performance
RES asset base performance Increased effective installed capacity vs. 9M 2021 and strong wind dynamics No material exposure to merchant and no impact from regulatory interventions (i.e. windfall taxes) due to long term regulated offtake agreements/hedges Installed Capacity Production Volumes MW Post
Slide 5: 9M 2022 Performance by business segment
9M 2022 Performance by business segment 39% 51% 3.4% 6.4% % of total Revenue Energy Revenues Trading Revenue Concessions Revenues Construction Amounts € 175.2m 229.7m 15.2m 28.6m Revenue 9M 2021: 150.6m 9M 2021: 69.5m 9M 2021: 12.1m 9M 2021: 14.8m 124.0m 24.3m 1.9m 0.6m adj. EBITDA (1) 9M 2021: 104.
Slide 6: Revenues and adj. EBITDA y-o-y changes
Revenues and adj. EBITDA y-o-y changes Top line growth driven by higher RES generation and increased trading activity Adj. EBITDA increases on the back of RES top line growth and positive trading contribution Group Revenues (y-o-y change) €m 13,8 448,7 160,3 3,1 24,5 247,0 9M 2021 Energy Trading Con
Slide 7: Cash flow bridge
Cash flow bridge Operating profitability and financing actions support liquidity for the demanding capex plan First tranche of Amfilochia cash grant of € 100m booked in 3Q 2022 Group cash flow (y-o-y change) €m 150,9 37,4 18,3 92,7 25 180,4 45 429,1 94,2 397,4 Cash and adj. EBITDA WC change and Taxe
Slide 8: Balance sheet highlights
Balance sheet highlights Solid cash position and healthy leverage levels to support the group’s growth plans ~70% of current debt exposure fixed at competitive levels Cash and Cash Equivalent(1) Net Debt / adj. EBITDA (LTM) €m € (x) 428,1 397,4 394,4 3,5 3,3 2,9 FY 2021 1H 2022 9M 2022 FY 2021 1H 20
Slide 9: Outlook
Outlook More than 1.2GW are already underway Capacity Evolution In MW ~1,100 ~3,300 ~630 ~710 ~400 1,234 ~820 686 182 ~1,630 895 364 866 Operating Capacity Today Underway Advanced / Early Stage Capacity 2025 Wind Solar Hydroelectric Battery Storage Other STRATEGY AND TARGETS 9
Slide 10: Underway capacity
Underway capacity Projects under construction / RTB Project Expected Capacity Capex Cash Grant Equity/Cash Project Type Finance Debt commercial (MW) (€ m) (€ m) (€ m) (€ m) operation Kafireas Wind Park Wind 330 555 - 444 111 2023 PV Fokidas Solar 110 58 - 47 12 2023 PV Kossos Solar 72 38 - 31 8 2023
Slide 11: Appendix
Appendix
Slide 12: Group PnL
Group PnL in €m 3Q 2021 3Q 2022 y-o-y 9M 2021 9M 2022 y-o-y Revenue 107,3 171,9 60,3% 246,9 448,7 81,7% Cost of sales -74,8 -111,2 48,7% -156,2 -300,2 92,2% Gross profit 32,5 60,7 87,0% 90,7 148,5 63,7% GP Margin 36,7% 35,3% 36,7% 33,1% Administrative & distribution expenses -6,0 -14,9 148,4% -17,5
Slide 13: Group Balance Sheet
Group Balance Sheet €m FY 2021 9M 2022 Tangible and Intangible fixed assets 1.053,8 1.203,8 Investments 68,3 79,0 Other long-term assets 18,4 48,9 Inventories and Receivables 232,0 300,7 Cash and cash equivalent 397,4 428,1 Total assets 1.769,9 2.060,5 Total loans 983,5 1.085,9 Grants 76,7 172,5 Oth
Slide 14: Investors Contacts
Investors Contacts Argyris Gkonis, IR Officer agkonis@terna-energy.com +30 210 6968499 Investor Relations Desk ir.ternaenergy@terna-energy.com +30 210 6968457