Ameresco, Inc. · NYSE:AMRC

Ameresco — Q3 2019 Earnings Presentation

16 slides from Ameresco's earnings presentation, Nov 5, 2019

  1. Slide 1: Q3 2019 Supplemental Information

    Q3 2019 SUPPLEMENTAL INFORMATION NOVEMBER 5, 2019

  2. Slide 2: Forward Looking Statements

    Forward Looking Statements Any statements in this presentation about future expectations, plans and prospects for Ameresco, Inc., including statements about market conditions, pipeline and backlog, as well as estimated future revenues and net income, and other statements containing the words “projec

  3. Slide 3: Q3 2019 Highlights

    Q3 2019 HIGHLIGHTS $23.9M $8.9M -6.7% $212.0M 21.1% Net Income Adj. EBITDA EBITDA Change Revenue Gross Margin ©2019 Ameresco, Inc. All rights reserved.

  4. Slide 4: Sources of Revenue Q3 2019

    SOURCES OF REVENUE Q3 2019 $145.9M $43.6M $22.5M Projects Recurring Other Energy efficiency and Energy & incentive revenue Services, software and renewable energy projects from owned solar and renewable integrated PV gas assets; plus recurring O&M from projects ©2019 Ameresco, Inc. All rights reserv

  5. Slide 5: 61% of EBITDA Came from Recurring Lines of Business

    61% OF EBITDA CAME FROM RECURRING LINES OF BUSINESS YEAR-TO-DATE 2019 23% Other Other Recurring 12% 10% O&M Projects O&M 29% 9% 11% $560M $62M Assets Adjusted 14% Revenue Projects EBITDA* 65% Assets 50% 61% Recurring * Adjusted EBITDA percentage amounts exclude unallocated corporate expenses. ©2019

  6. Slide 6: Energy Asset Portfolio – 09/30/2019

    ENERGY ASSET PORTFOLIO – 09/30/2019 LFG to RNG: 17% Electricity: 30% LFG Direct Operating Use: 14% Energy Assets Energy RNG: 10% in Development Assets & Construction Solar: 258 MWe 287 MWe 82% Solar: 44% Other: 2% Other: 1% 258 MWe of Energy Assets. Renewable Gas is 287 MWe in development & construc

  7. Slide 7: Energy Asset Balance Sheet – 9/30/2019

    ENERGY ASSET BALANCE SHEET – 9/30/2019 Energy Debt: Operating Energy Total Operating $444M $203M Assets Debt $508M $285M Corporate Development/Construction Debt $64M $82M $64M out of the $508M energy $203M out of the $285M of total debt on our assets on our balance sheet are still balance sheet is d

  8. Slide 8: Tremendous Forward Visibility: Backlog and Recurring Revenue

    TREMENDOUS FORWARD VISIBILITY BACKLOG AND RECURRING REVENUE BUSINESS Awarded Project ~ 12-24 months to contract $1.4 billion Backlog Contracted Project ~ 12-36 months of revenue $787 million Backlog Operating Energy Estimated 14 year weighted average PPA remaining contracted revenue Assets $900 mill

  9. Slide 9: Sustainable & Profitable Business Model

    SUSTAINABLE & PROFITABLE BUSINESS MODEL Expanding Earnings at a Faster Rate than Revenue by Growing Higher Margin Recurring Lines of Business Revenue ($M) Adjusted EBITDA ($M) $865 $787 $99 $717 $91 $631 $651 $593 $63 $56 $46 $41 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 Guidance G

  10. Slide 10: Appendix

    APPENDIX AMERESCO@

  11. Slide 11: Energy Asset Metrics

    ENERGY ASSET METRICS Energy Asset Metrics (in thousands, except megawatt equivalents "MWe") As of September 30, 2019 2018 MWe $ MWe $ Energy Assets: In Operations 258 444,040 216 331,471 In Development/Construction 287 63,719 133 110,546 Total Energy Assets 545 $507,759 349 $442,018 Three Months End

  12. Slide 12: GAAP to Non-GAAP Reconciliation

    GAAP TO NON-GAAP RECONCILIATION Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Adjusted EBITDA: Net income attributable to common shareholders $ 8,870 $ 10,701 $ 22,233 $ 26,391 Impact of redeemable non-controlling

  13. Slide 13: Performance by Segment

    PERFORMANCE BY SEGMENT Performance by Segment (in thousands): Three Months Ended Nine Months Ended Adjusted Adjusted Revenue EBITDA Revenue EBITDA September 30, 2019 U.S. Regions 84,079 7,690 227,896 17,745 U.S. Federal 71,258 12,044 169,337 29,788 Canada 12,665 2,225 27,696 3,116 Non-Solar DG 21,87

  14. Slide 14: Segments by Line of Business – Three Months

    SEGMENTS BY LINE OF BUSINESS – 3 MONTHS Segment Revenues by Line of Business for the Three Months Ended September 30 (in thousands): Non-Solar Total U.S. Regions U.S. Federal Canada DG All Other Consolidated 2019 Project $ 72,667 $ 58,199 $ 9,380 $ 3,059 $ 2,592 $ 145,897 Energy Assets 6,699 1,339 1

  15. Slide 15: Segments by Line of Business – Nine Months

    SEGMENTS BY LINE OF BUSINESS – 9 MONTHS Segment Revenues by Line of Business for the Nine Months Ended September 30 (in thousands): Non-Solar Total U.S. Regions U.S. Federal Canada DG All Other Consolidated 2019 Project $ 196,284 $ 134,954 $ 20,112 $ 6,318 $ 8,818 $ 366,486 Energy Assets 18,063 2,95

  16. Slide 16: Your Trusted Sustainability Partner

    Your Trusted Sustainability Partner ameresco.com

Ameresco — Q3 2019 Earnings Presentation on 6ix