Photon Energy Nv · GPW:PEN
Photon Energy Nv — Q3 2022 Earnings Presentation
26 slides from Photon Energy Nv's earnings presentation, Nov 14, 2022
Slide 1: Q3 2022 Results
Q3 2022 Results with Georg Hotar, CEO and Clemens Wohlmuth, CFO Photon Energy N.V. 14 November 2022
Slide 2: Disclaimer
Q3 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: Business Model; Strategy and Outlook; Q3 2022 Financials; Q&A
Business Model Strategy and Outlook Q3 2022 Financials Q&A Session
Slide 4: Business Model
Business Model Strategy and Outlook Q3 2022 Financials Q&A Session
Slide 5: About Us
Q3 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 ~200 Active in Shares traded 3 x BUY Sustainability 2008 Amsterdam Employees 10+ countries in PL, CZ and DE PT: EUR 3.12 - 4.20 Rating* Solar Busin
Slide 6: Our Global Presence
Q3 2022 Results Our Global Presence +28.3 MWp Focus on Europe and Australia under construction Project development ► Project pipeline with a combined capacity of 899 MWp ► Focus on Australia, Hungary, Poland and Romania Electricity production (91.9 MWp) ► 11 proprietary power plants in the Czech Rep
Slide 7: Strategy and Outlook
Business Model Strategy and Outlook Q3 2022 Financials Q&A Session
Slide 8: Key Strategy Drivers
Q3 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 9: The Future of Our Business is the Energy Market
Q3 2022 Results The Future of Our Business is the Energy Market Increasing energy prices in our key markets Comparison German Base Load Price EEX in EUR/MWh Electricity spot price / Electricity Forward price 400 Key Figures daily average 2023E EEX January 22 31 October 2022 350 EEX current Romania ~
Slide 10: Overbuilding and Using Trackers Makes the Investment More Attractive
Q3 2022 Results Overbuilding and Using Trackers Makes the Investment More Attractive Daily production profile (fixed and trackers) vs HUPX DAM hourly electricity prices 0.50 Fixed-tilt 0.45 installation 0.40 0.35 Power (kW) 0.30 0.25 WEST EAST 0.20 0.15 Single-axis trackers 0.10 0.05 0.00 0 1 2 3 4
Slide 11: Essential for our Growth is our Project Pipeline
Q3 2022 Results Essential for our Growth is our Project Pipeline 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 Country 1. Feasibility development development build technical const
Slide 12: RayGen Technology to Accelerate Further Capacity Growth
Q3 2022 Results RayGen Technology to Accelerate Further Capacity Growth About the technology About our partnership ► RayGen has combined its proprietary solar technology, ► Photon Energy made a minority equity investment in the company in April PV Ultra, with its unique storage system, Thermal Hydro
Slide 13: Photon Energy: Outlook for our Business
Q3 2022 Results Photon Energy: Outlook for our Business Our Guidance for 2022 Our 2024E Targets and KPIs ► Revenues projected to reach EUR 85.0 million ► Proprietary portfolio: ~ 600 MWp (from our previous guidance of up to EUR 65 million), ► Additional projects in pipeline: ~1.5 GWp representing a
Slide 14: Q3 2022 Financials
Business Model Strategy and Outlook Q3 2022 Financials Q&A Session
Slide 15: Highlights in Q3 and after
Highlights in Q3 and after ► Construction start of our first seven power plants in Romania, with a combined capacity of 28.3 MWp. Teius 4.8 MWp ► KFM Barometer reevaluates our Green EUR bond still as attractive with 4 out of 5 stars. ► Tap of our 6.50% Green EUR Bond 2021/2027 by EUR Siria 12.5 mill
Slide 16: Business Development
Q3 2022 Results Business Development Proprietary portfolio, cumulated (MWp) Continued progress across all segments 100 90.5 MWp 91.9 MWp 90 ► 103.0 GWh of electricity (+25.2% YoY) generated by our 16.2 80 74.7 MWp +1.4 proprietary power plant portfolio in Q1–Q3 2022, on par 70 +15.8 60 with the full
Slide 17: Q3 2022 and Q1–Q3 Financial Results
Q3 2022 Results Q3 2022 and Q1–Q3 Financial Results Income Statement Q1–Q3 Q1–Q3 ► Q3 2022 revenues and EBITDA surpassed In thousand EUR Q3 2021 Q3 2022 Change in % Change in % 2021 2022 the record first-half year’s results, bringing Total revenues 10,200 35,419 +247.2% 24,625 67,785 175.3% the Comp
Slide 18: Q3 2022 and Q1–Q3 Financial Results
Q3 2022 Results Q3 2022 and Q1–Q3 Financial Results Balance Sheet Assets Total assets EUR EUR 206.3 M 220,000 Total assets +4.9% +23.7% 196.6 M 200,000 EUR 21.9 M ► Stable Fixed assets: depreciation and weakening Hungarian 180,000 158.9 M 39.4 M Forint impacting the EUR value of the Company’s Hungar
Slide 19: Q3 2022 and Q1–Q3 Financial Results
Q3 2022 Results Q3 2022 and Q1–Q3 Financial Results Cash Flow ► Positive Operating cash flow driven by strong operational result, an increase in trade receivables from energy generation and growing technology sales, In thousand EUR Q3 2022 Q1–Q3 2022 increases in advance payments and inventories con
Slide 20: Q&A Session
Business Model Strategy and Outlook Q3 2022 Financials Q&A Session
Slide 21: Annex
= Photon Energy Group Annex
Slide 22: Business Model: Solar Services
Q3 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 23: Business Model: Water Services
Q3 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 24: Our Share
Q3 2022 Results Our Share Shares ISIN NL0010391108 Shareholding Structure Shares outstanding 56,398,083 Shares in free-float 13,909,633 Solar Future 36.29% Market cap 10.11.2022 EUR 164 million Net debt 30.09.2022 EUR 106 million Free-float Enterprise value 10.11.2022 EUR 270 million 23.18% ► Photon
Slide 25: GREEN Bond 2021/27
Q3 2022 Results GREEN Bond 2021/27 Bond New GREEN EUR Bond 2021/2027 Volume EUR 77.5 million Coupon 6.50% p.a., quarterly payment Initial offering 23 November 2021 ► IMUG | rating – second party opinion, Ratings/Awards ► KFM Barometer 4 of 5 stars ► Best Issuer Green SME Bonds 2021 Segment Secondary
Slide 26: Management
Q3 2022 Results Management Georg Hotar Michael Gartner CEO and Co-founder CTO and Co-founder Georg co-founded Photon Energy in 2008. He Michael developed one of the first large PV has extensive knowledge of the solar energy installations in the Czech Republic before industry and international financ