Slide 1: 2015 Second Quarter Results
2015 Second Quarter Results Copyright 2015 by Plug Power Inc. Today’s Fuel Cells for proven, reliable power August 6, 2015
Slide 2: Safe Harbor
Safe Harbor This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (“PLUG”), including but not limited to statements about PLUG’s 2015 forecast of sales,
Slide 3: Q2 Record Quarter
Q2 Record Quarter Record revenues of more than $24M Bookings in excess of $59M Bookings to date more than $106M Expanded gross margins 7% in Q2 26% for GenDrive
Slide 4: 2015 Projections Reiterated
2015 Projections Reiterated More than $200M in bookings for full year More than $100M in revenue Continual progress on gross margins
Slide 5: Walmart and Kroger: Repeat Customers
Walmart and Kroger: Repeat Customers WALMART: - Fully commissioned thus far in 2015: 1. Bedford, PA 2. Wintersville, OH 3. Mankato, MN 4. Gas City, IN KROGER: - 2015 GenKey deployments to date: 1. Atlanta, GA 2. Delaware, OH - Value proposition works for Kroger End of Q3: expect five of 30 distribut
Slide 6: H2 Fuel Cell (HFC) Value Proven All Around
H2 Fuel Cell (HFC) Value Proven All Around Manufacturing: HFCs allow fleet cost predictability Honda Mercedes Benz BMW Volkswagen Mid-Size Fleets: HFCs improve warehouse efficiencies Dietz and Watson FreezPak Uline Newark Farmers Market GenFuel Improvements: allow mid-size fleet customers to achieve
Slide 7: International Sales Expansion In Europe
International Sales Expansion In Europe Plug Power now owns 100% of HyPulsion Enter European material handling market with success under belt Full suite of CE-certified GenDrive products OEM qualifications Expect European market to accelerate rapidly Focus on manufacturing customers with high labor
Slide 8: Positive Gross Margins Achieved
Positive Gross Margins Achieved Substantial Gross Margin Traction GenDrive: Improved from 4% to 26% in 24 months Achieved through design simplification, purchasing power, and scale production Influencer: Investment in own stack technology Reduces initial product costs and increases life to reduce se
Slide 9: Service Gross Margin Improvements
Service Gross Margin Improvements Achieved Substantial Gross Margin Traction Improved from -34% in 2Q 2014 to -24% in 2Q 2015 Improvements in GenCare Failure rates declined by over 70% in past year 40% increased life with high power stacks Fleet operating center is monitoring performance
Slide 10: A Point Not To Be Lost
A Point Not To Be Lost Achieved Substantial Gross Margin Traction Fact: Our systems are performing more material handling hydrogen fuelings a day than anyone else in the world Enable almost half a million hydrogen fuelings with GenFuel Dispensed more than 500 metric tons of H2 By end of year: one mi
Slide 11: Revenue Growth Through Financing
Revenue Growth Through Financing Simple financing is expected to accelerate deal closures Looking at variety of options Fund with direct investors Participating in “partnership flip” offerings End of Year Goal: Financing vehicle in place that should support the growth in Plug Power’s business
Slide 12: We Bring Our Customers
We Bring Our Customers: We Believe: With simple financing, we can sell many more units than in our present plan Strong value proposition Set of turn-key solutions that include reliable, efficiency-enhancing products and outstanding service Impressive customer list of some of the world’s most forward
Slide 13: 2nd Quarter 2015 Financial Highlights
2nd Quarter 2015 Financial Highlights Continued Momentum and Commercial Traction 2nd quarter total revenues - $24.0 million – 39% increase over prior year Gross margin improvement - year over year $59 million in 2nd Q bookings - ending quarter with backlog $206 million Strong build activity for 3rd
Slide 14: Quarterly Total Revenue
Quarterly Total Revenue *projection *projection Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015
Slide 15: Quarterly Administrative Expenses
Quarterly Administrative Expenses *projection *projection
Slide 16: Quarterly Gross Margin and EBITDAS
Quarterly Gross Margin and EBITDAS *projection *projection
Slide 17: Key Conclusions to Take Away
Key Conclusions to Take Away 2nd Quarter 2015 – Reflections Expect continued momentum in sales & bookings Expect commercial traction providing confidence in full year forecast Second quarter margin performance & cost down program progress Continued investments to fuel growth Near Term: product desig
Slide 18: Questions?
Questions? apolug power Genie.
Slide 19: Plug Power contact details
“plug power we ‘968 Albany Shaker Road Latham, New York 12110 518.782.7700 www.plugpower.com