Good Energy — H1 2021 Earnings Presentation
26 slides from Good Energy's earnings presentation, Sep 14, 2021
Slide 1: Good Energy Interim results
Good Energy Interim results 6 months to 30 June 2021 14 September 2021
Slide 2: Good Energy is a British renewable electricity company with a difference
Good Energy is a British renewable electricity company with a difference For more than 20 years, our mission has been to power a cleaner, greener world Today, that is what we are – an energy company for the future 1 Good Energy Interim Results | © 2021 Good Energy. Private & Confidential
Slide 3: Agenda
Agenda Agenda Overview Nigel Pocklington, CEO 4 Financial performance Rupert Sanderson, CFO 6 Strategic & operational update Nigel Pocklington, CEO 12 Summary Nigel Pocklington, CEO 21 2 Good Energy Interim Results | © 2021 Good Energy. Private & Confidential
Slide 4: Overview
Overview Nigel Pocklington CEO 3 Good Energy Interim Results | © 2021 Good Energy. Private & Confidential
Slide 5: Delivering against strategy
Overview Delivering against strategy Strong financial performance underpinning delivery of key strategic milestones Strong performance Strategic development Green revolution Underlying strong Delivering mobility Policy and public business performance and generation as a attention is turning towards
Slide 6: Financial performance
Financial performance Rupert Sanderson CFO 5 Good Energy Interim Results | © 2021 Good Energy. Private & Confidential
Slide 7: Profit bridge H1 21
Financial performance Profit bridge H1 21 Good Energy PBT Development COVID recovery £0.8m £4.8m Driving more normal business conditions £3.9m £0.6m Business growth continues £0.2m £0.7m Margin upside from growth in SME & HH £2.8m Hedging & commodity Upside Positive impact from hedging strateg
Slide 8: Income statement
Financial performance Income statement HY 2021 HY 2020 % change Total customers (thousands) 274.6 271.3 1.2% Positive performance Total supply volumes (Gwh) 610 556 9.7% Recovery from COVID impact to more normal business conditions HY 2021 HY 2021 HY 2021 HY 2020 % change £m underlying non-underly
Slide 9: Cashflow statement
Financial performance Cashflow statement £000s HY 2021 HY 2020 Operational cash flow Operational cashflows before working capital 8,737 4,707 Strong EBITDA performance Working capital movement -8,386 2,314 Cash generated from operations 351 7,021 Refinancing Repayment of £11.9m of Bond and the F
Slide 10: Net debt & funding
Financial performance Net debt & funding Net debt & gearing Debt reduction £60m 80.0% Continued pay down of debt, despite 70.0% H1 working capital impact £50m 60.0% Gearing £40m 50.0% Gearing ratio decreased to 51.2% £30m 40.0% Refinance Generation portfolio refinanced in April 2021 30.0% £20m
Slide 11: Current trading, outlook and dividend
Financial performance Current trading, outlook and dividend Current trading and outlook Dividend Underlying performance is in Intention to recommend a dividend line with management expectations payment for 2021 and reiterates its intention to maintain a progressive Impact of increasing commodity cos
Slide 12: Highlights & strategic direction
Highlights & strategic direction Nigel Pocklington CEO 11 Good Energy Interim Results | © 2021 Good Energy. Private & Confidential
Slide 13: Highlights & strategic direction
Highlights Highlights & strategic direction Core supply business Mobility as a Service Generation as a Service Core billing Time of use (TOU) tariffs for Smart meter rollout on track and customer systems in EV drivers launched and driving place and working well changes to consumption Investing in ne
Slide 14: Building blocks in place
Highlights Building blocks in place Good Energy is a next-generation energy company, founded on a deep green domestic offering Kraken ENSEK SMART meters Feed in Tariff (FiT) 100% domestic supply 100% business Rollout continuing as One of the customers migrated supply customers planned leading player
Slide 15: A company that is leading the green revolution
Highlights A company that is leading the green revolution Policy and public attention is turning towards climate and energy. Good Energy is taking a leading role. Sixth IPCC report COP26 Government investigation 100% renewable 14 © 2021 Good Energy. Private & Confidential
Slide 16: Zap-Map: in numbers
Mobility as a Service Zap-Map: in numbers 95%+ of public points with c.70% showing live data 250,000+ Registered users Charging 240,000+ made simple cross-platform users each month Search, Plan, Drive, Pay…. All in one app 18,000+ Route plans per month 40,000+ User comments per month 15 Good Energy
Slide 17: Zap-Map: strong commercial milestones
Mobility as a Service Zap-Map: strong commercial milestones Subscriptions launch Released latest version of Zap-Map (7.0) for iOS & Android users Zap - Pay Onboarding networks to Zap-Pay our simple cross network way to pay. GeniePoint, Motor Fuels Group, char.gy Dealers Supporting dealers with
Slide 18: EV time of use tariff
Mobility as a Service EV time of use tariff Innovative tariffs influencing user behaviour Green driver total consumption per HH Load shifting 43% load shifted to off peak times Users shifted up to 80% of consumption into off peak windows Consumption Highest consumption in the first 4 hours to mi
Slide 19: Decentralised energy: Helping customers generate, consume and manage 100% renewable power
Generation as a Service Decentralised energy Helping Feed in Tariff Smart products Consumer Access Device (CAD) customers KEY DELIVERABLES - 2021 generate, consume and Secure and grow FiT business New export services SMART meters installed for 19k customers with 22k planned in Good Energy Hu
Slide 20: Good Energy hub & app progress
Generation as a Service Good Energy hub & app progress Customer solutions Provide energy insights, reduce bills, reduce consumption SMART enabled Smart products powered by time of use tariffs Development 5,000 CAD products rolling out from September to FiT customers Value driver Digital serv
Slide 21: Summary
Summary Nigel Pocklington CEO 20 Good Energy Interim Results | © 2021 Good Energy. Private & Confidential
Slide 22: Summary
Summary Strong core business Building blocks and systems in place to accelerate position in key markets Leading the green revolution Policy and public attention is turning towards climate and energy Zap-Map capitalizing on market leading position Strong financials Strong financial performance
Slide 23: Q&A
Q&A 22 Good Energy Interim Results | © 2021 Good Energy. Private & Confidential
Slide 24: Appendix
Appendix 23 Good Energy Interim Results | © 2021 Good Energy. Private & Confidential
Slide 25: Customer Meters and Supply Volumes H1 21
Business performance Customer Meters and Supply Volumes H1 21 10% 1% Growth overall Growth overall Supply volume development Customer development COVID recovery 300,000 700 Non repeat of lockdown impacts on business 600 250,000 Colder Weather 500 182 191 200,000 177,679 179,334 400 Driving highe
Slide 26: Disclaimer
Disclaimer This document (and any subsequent discussions arising thereon) may contain forward-looking By accepting this document, you agree to be bound by the above conditions and limitations. The information contained in this document is provided as at the date hereof and is subject to statements r