Recupero Etico Sostenibile S.p.a · MIL:RES
Recupero Etico Sostenibile — Recupero Sostenibile (RES S.p.A.) — Investor Presentation (September 2023)
33 slides from Recupero Etico Sostenibile's investor presentation, September 2023
Slide 1: Company Presentation
RECUPERO SOSTENIBILE Ze) ion Company Presentat
Slide 2: Agenda
1 Overview 2 Business Model 3 Investment Highlights 4 Financials 5 Strategies and Use of Proceeds 6 Competitive Positioning 7 Annex 2
Slide 3: Overview
Overview • RES S.p.A. has been operating in the circular economy and environmental sustainability sector for over 30 years. In particular, the company deals with the entire process of waste management from selection to functional treatment and transformation to the regeneration and recovery of waste
Slide 4: Timeline
Timeline • Purchase of new shredder for the • First year of operations • Renovation of the Pozzilli selection plant. of composting plant Pozzilli selection plant. • Authourised increase in the quantity First year of • Presentation of the Improved selection entering the selection plant from 25 TMB pl
Slide 5: Organisational Structure
Organisational Structure Antonio Antonio Maria Serena Invitalia Valerio Valerio Mercato Valerio Vespoli S.p.A. (1973) (1972) 38,58% 19,69% 19,69% 0,79% 7,44% 13,81% BOARD OF DIRECTORS President Maria Valerio CEO Independent Director Antonio Valerio (1973) Enrico Testa 100% 100% 100% Independent Dire
Slide 6: Organisation Chart
Organisation Chart 51 FTEs as of 31 Dec 2022 Board of Directors SUPERVISORY (of which 50 in RES and 1 in Energia Isernia) BOARD FINANCE DEPT RESEARCH AND TECHNICAL DEPT DEVELOPMENT Giuseppe Pucci Davide Scarano Fabio Sebastiano Operational Management Tufo Operational Management Finance & Admin Depar
Slide 7: Business Model
1 Overview 2 Business Model 3 Investment Highlights 4 Financials 5 Strategies and Use of Proceeds 6 Competitive Positioning 7 Annex 7
Slide 8: Business Model
Business Model • RES is vertically integrated across the entire waste supply chain, overseeing every phase of waste lifecycle. Tasks carried out by • The Company business model focuses on waste management ; passing from entry as waste and exixting the plant in the form of a RES resource: SELECTION/
Slide 9: Plant Equipment and Authorised Quantities
Plant Equipment Pozzilli Tufo Colonoco Two photovoltaic Selection Plant for SSF TMB Plant for SSF Composting and Biogas Plant Landfill Systems production production biostabilisation Plant (625 kWp) (988 kWp and 80 kWp) • Unsorted waste • Biogas generated • Waste sorting collection • Differentiated •
Slide 10: Investment Highlights
1 Overview 2 Business Model 3 Investment Highlights 4 Financials 5 Strategies and of Use of Proceeds 6 Competitive Positioning 7 Annex 10
Slide 11: Investment highlights
Investment highlights Research and Development Favourable activities regulatory 7 framework 1 High visibility revenues and 6 margins INVESTMENT 2 Equipment Gap HIGHLIGHTS 5 3 Innovative plastic hub 4 Full control of the value chain Strategic geographical position 11
Slide 12: Favourable regulatory framework
1 –Favourable regulatory framework • The Italian and European regulatory context is directing waste management towards a dimension where the valorisation of waste as a resource has become increasingly necessary. The regeneration of waste is therefore the basis for achieving the objectives set at a E
Slide 13: Equipment Gap
2 –Equipment Gap • Italy is characterised by a high number of medium-small sized plants. The overall number of plants which carry out the recovery of materials in Italy amounted to 7.314 in 2020, mainly located in Northern Italy. STRUCTURAL DEFICIENCY OF CURRENT SITUATION IN ITALY MANAGEMENT SYSTEMS
Slide 14: End-to-End control of the whole value chain
3 – End-to-End control of the whole value chain • RES is one of the few companies to be present in every phase of the waste management cycle, guaranteeing cost efficiency and operational flexibility. Collection Selection / Treatment Recovery of materials and energy production Disposal LEACHATES Muni
Slide 15: Strategic geographical position
4 - Strategic geographical position The entire material management and valorisation chain is located in the province of Isernia, with clear logistical and economic benefits RES - Polo impiantistico attuale: 1 Selection plant 4 Biogas cogenerator Landfill Icomposting 2 5 plant 3 Photovoltaic systems
Slide 16: Innovative center for plastic recovery
5 – Innovative center for plastic recovery Creation of an innovative hub for the recovery and recycling of plastic, totally in line with the principles of circular economy and sustainability. Total investment of approximately €26.75m in two phases. 4 – TECHNOLOGICAL 1 – MATERIAL RECOVERY INNOVATION
Slide 17: High visibility of revenues and margins
6 – High visibility of revenues and margins • Within the authorized quantities, RES defines the level of use of the various plants from year to year (i.e. full capacity vs partial use): • in relation to market trends (price of delivery to the plants vs cost of disposal to third parties, selling pric
Slide 18: Research and development activities
7 – Research and development activities The Pozzilli Research and Development Centre plays a key role in the future strategy of the company, which intends to leverage the know how acquired in the waste sector to carry out reasearch activities functional to the implementation of new industrial initia
Slide 19: Financials
1 Overview 2 Business Model 3 Investment Highlights 4 Financials 5 Strategies and Use of Proceeds 6 Competitive Positioning 7 Annex 19
Slide 20: Consolidated Profit & Loss and Balance Sheet
Consolidated Profit & Loss Consolidated Balance Sheet Consolidated Profit & Loss 31.12.2021 31.12.2022 Consolidated Balance Sheet 31.12.2021 31.12.2022 (Euro/000) (Euro/000) Core Revenues 15,410 17,244 Intangible Fixed Assets 3,485 3,893 Other Revenues 587 704 Tangible Fixed Assets 12,483 13,661 Tot
Slide 21: Strategies and Use of Proceeds
1 Overview 2 Business Model 3 Investment Highlights 4 Financials 5 Strategies and Use of Proceeds 6 Competitive Positioning 7 Annex 21
Slide 22: Strategy
Strategy Creation of an annovative hub for plastic recovery Creation of a plant for the mechanical and chemical recycling of plastics aimed at the production of secondary raw materials, to be placed in the plastic industry market. Construction of a photovoltaic system on the industrial plant to prod
Slide 23: Business Model
Business Model RES is focusing on 4 strategic Business Units Plastic products Plastic granulates Plastic Mechanical recycling recycling bin Plastic products Biowaste Mechanical recycling plant Collection & sorting Pyrolityc Biowaste Plastic Compost oil Chemical bin recycling Organic recycling bin re
Slide 24: Future Business Model
Future Business Model Collection Selection / Treatment Recovery of materials and energy production Disposal Municipalities LEACHATE BIOSTABILIZATION AND Daily hedging operation COMPOSTING PLANT COMPOST Pre-sorted collection SSF SELECTION MATERIAL AND RECOVERY PRODUCTION Undifferentiated PLANT TODAY
Slide 25: Competitive Positioning
1 Overview 2 Business Model 3 Investment Highlights 4 Financials 5 Strategies and Use of Proceeds 6 Competitive Positioning 7 Annex 25
Slide 26: Competitive positioning
Competitive positioning The waste sector in Italy is made up of companies with very different characteristics in terms of size, business, presence along the supply chain, ownership structures and territory served, mainly attributable to the following categories: • Large multi-utilities: public servi
Slide 27: Annex
1 Overview 2 Business Model 3 Investment Highlights 4 Financials 5 Strategies and Use of Proceeds 6 Competitive Positioning 7 Annex 27
Slide 28: Competitive Positioning
Competitive Positioning • Some companies have been identified, listed and unlisted, comparable to RES, similar from an offering point of view, and which operate in the same geographical area or in neighboring areas. These are companies that have commercial relationships with RES because, not treatin
Slide 29: Material flows managed by RES
Material flows managed by RES Progressive reduction in the use of landfill as a form of waste disposal RES - RES - Quantity of waste treated (kton) and plant saturation RES - - Type of waste treated per plant (% of total authorized) During 2022, the total waste treated by RES 75,9 75,9 4,2 amounted
Slide 30: The European waste market
The European waste market WASTE PRODUCED • European waste production in 2020 amounted to approximately 2.15 billion tonnes, a slight decrease compared to the values recorded in the previous 10 years, where the reduction is attributable to the spread of Covid-19. • Among the largest waste producers i
Slide 31: The Italian market
The Italian market Waste production TOTALE WASTE PRODUCED • Italy, after Germany and France, is the nation that produces the most waste in Europe with a total of approximately 175 million tonnes of waste produced in 2020. • 17% are municipal waste, 83% are special waste.Il 17% sono rifiuti urbani, l
Slide 32: Italian market: waste management
Italian market Waste management URBAN WASTE Gestione dei rifiuti urbani in Italia nel 2021 (%) • Landfills for the disposal of urban waste in Italy are 131 as of 2020, of which 51 in the South and 3 in Molise; Discarica, 19% Recupero di • There are 14 urban waste waste-to-energy plants in Italy as m
Slide 33: The Italian market: focus on equipment gap
The Italian market Focus on equipment gap Requirements (ktons) • The plant requirement to be filled by 2035 to reach the European targets amounts to approximately 2.4 million tonnes. Plant 455 • The greatest needs are recorded in the Centre-South (Campania requirements for with around 800 ktons, Laz
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