Photon Energy Nv · GPW:PEN
Photon Energy Nv — Q1 2022 Earnings Presentation
25 slides from Photon Energy Nv's earnings presentation, May 12, 2022
Slide 1: Q1 2022 Results
Q1 2022 Results with Georg Hotar, CEO and Clemens Wohlmuth, CFO Photon Energy N.V. 12 May 2022
Slide 2: Disclaimer
Q1 2022 Results Disclaimer This presentation is for information purposes only and may not be copied in whole or in part for any purpose, or forwarded to third parties or published. This presentation includes written material or slides for a presentation on Photon Energy N.V. (“the Company") and thei
Slide 3: Agenda
Business Model Strategy and Outlook Q1 2022 Financials Q&A Session
Slide 4: Business Model
Business Model Strategy and Outlook Q1 2022 Financials Q&A Session
Slide 5: About Us
Q1 2022 Results About Us We are dedicated to ensuring that everyone has access to clean energy and water Photon Energy Group Founded in Headquartered in 150+ Active in Shares traded Sustainability BUY Recommendation 2008 Amsterdam Employees 10+ countries in PL, CZ and DE Rating* From AlsterResearch
Slide 6: Business Model: Solar Services
Q1 2022 Results Business Model: Solar Services Our services cover the entire Project Development lifecycle of photovoltaic systems. We develop projects in-house and acquire them at all stages of development. Operations and Maintenance Engineering (EPC) We provide a full range of O&M We design and bu
Slide 7: Business Model: Water Services
Q1 2022 Results Business Model: Water Services Our comprehensive services and Treatment solutions help to make clean water We deliver treatment solutions including potable and accessible to everyone. wastewater treatment, hazardous liquid waste and industrial water treatment. Remediation Wells and R
Slide 8: Our Global Presence
Q1 2022 Results Our Global Presence Focus on Europe and Australia Project development ► Project pipeline with a combined capacity of 775 MWp ► Focus on Australia, Hungary, Poland and Romania Electricity production (91.9 MWp) ► 11 proprietary power plants in the Czech Republic (15.0 MWp), 11 in Slova
Slide 9: Strategy and Outlook
Business Model Strategy and Outlook Q1 2022 Financials Q&A Session
Slide 10: Key Strategy Drivers
Q1 2022 Results Key Strategy Drivers Expansion of recurring revenue streams to increase Group value: I. Electricity generation: Develop pipeline of projects, in-house or through co- development, to expand our PV proprietary portfolio and increase stable revenues from clean electricity generation and
Slide 11: The Future of Our Business is the Energy Market
Q1 2022 Results The Future of Our Business is the Energy Market Increasing energy prices and declining LCOE in our key markets Electricity spot price / Electricity Forward price Current Photon’s LCOE Key Figures daily average 10 May 2022 2023E excl. balancing Romania ~206 EUR per MWh ~219 EUR per MW
Slide 12: Project Development
Q1 2022 Results Project Development Pipeline in development (in MWp) Pipeline development ► The typical development period of new PVPPs is 12–24 months and the 2. Early 3. Advanced 4. Ready-to- 5. Under Total in Country 1. Feasibility development development build technical construction MWp construc
Slide 13: Innovative PV technology and energy storage system
Q1 2022 Results Innovative PV technology and energy storage system We have partnered with RayGen to develop projects using the About the technology Melbourne-based company’s innovative solar-plus-storage technology. ► RayGen has combined its proprietary solar technology, About the partnership PV Ult
Slide 14: Photon Energy: Outlook for our Business
Q1 2022 Results Photon Energy: Outlook for our Business Our Guidance for 2022 Our 2024E Targets and KPIs ► Revenues projected to reach EUR 65.0 million, ► Proprietary portfolio: at least 600 MWp representing a 78.8% increase YoY ► Additional projects in pipeline: ~1.5 GWp ► Leading to an increase of
Slide 15: Q1 2022 Financials
Business Model Strategy and Outlook Q1 2022 Financials Q&A Session
Slide 16: Recent Highlights
Recent Highlights ► Our two utility-scale power plants with 14.6 MWp in Leeton commissioned in August 2021 mitigated the seasonality of our business in Q4 2021 and Q1 2022. ► Two First merchant power plants in Europe, built and commissioned in Tolna, Hungary with a 2.8 MWp capacity in December 2021
Slide 17: Business Development in Q1 2022
Q1 2022 Results Business Development in Q1 2022 Proprietary portfolio, cumulated (MWp) Continued progress across all segments 100 90.5 MWp 90.5 MWp 91.9 MWp 90 ► 26.7 GWh of electricity (+76.3% YoY) generated by our 80 74.7 MWp 16.0 +1.4 proprietary power plant portfolio in Q1 2022: 30.9 70 60 +15.8
Slide 18: Q1 2022 Financial Results
Q1 2022 Results Q1 2022 Financial Results Income Statement In thousand EUR Q1 2022 Q1 2021 Change in % 2021 Total revenues 9,137 4,571 99.9% 36,359 of which from electricity generation 4,951 2,942 68.2% 19,402 EBITDA 2,024 222 811.7% 9,584 EBIT 528 -1,475 nm -712 Net profit/Net loss -1,491 -3,169 nm
Slide 19: Q1 2022 Financial Results: Balance Sheet
Q1 2022 Results Q1 2022 Financial Results Balance Sheet Assets EUR Total assets EUR Total assets 196.6 M -0.1% 196.3 M 200,000 +23.7% EUR 180,000 39.4 M 29.1 M 158.9 M ► Increase in Fixed assets resulting from an increase of our 160,000 14.3 M 14.8 M 22.8 M assets in progress partly offset by a decr
Slide 20: Q1 2022 Financial Results: Cash Flow Statement
Q1 2022 Results Q1 2022 Financial Results Cash Flow Statement ► Negative operating cash flow driven by adjustments in the net In thousand EUR Q1 2022 Q1 2021 working capital mainly caused by increased receivables and Operating cash flow -6,502 -2,810 advance payments. Investment cash flow -904 -4,05
Slide 21: Q&A Session
Business Model Strategy and Outlook Q1 2022 Financials Q&A Session
Slide 22: Annex
= Photon Energy Group Annex
Slide 23: Our Shares
Q1 2022 Results Our Shares Shares ISIN NL0010391108 Shareholding Structure Shares outstanding 56,282,304 Free-float shares 13,663,854 Solar Future 36.29% Market cap 10.05.2022 EUR 126,128 thousand Net debt 31.03.2022 EUR 91,054 thousand Free-float Enterprise value 10.05.2022 EUR 217,181 thousand 22.
Slide 24: GREEN Bond 2021/27
Q1 2022 Results GREEN Bond 2021/27 Bond EUR Bond 2017/2022 New GREEN EUR Bond 2021/2027 Volume EUR 23.7 million outstanding EUR 55 million Coupon 7.75% p.a., quarterly payment 6.50% p.a., quarterly payment Initial offering 27 October 2017 23 November 2021 ► IMUG | rating – second party opinion, Rati
Slide 25: Management
Q1 2022 Results Management Georg Hotar Michael Gartner Clemens Wohlmuth CEO and Co-founder CTO and Co-founder CFO Georg co-founded Photon Energy in 2008. He Michael developed one of the first large PV Clemens joined Photon Energy in 2012 and is has extensive knowledge of the solar energy installatio