Hydrogen Refueling Solutions Sa · EURONEXT:ALHRS
Hydrogen Refueling Solutions Sa — H1 2022/2023 Earnings Presentation
34 slides from Hydrogen Refueling Solutions Sa's earnings presentation, Apr 28, 2023
Slide 1: Investor Presentation Half-Year Results 2022/2023
INVESTOR PRESENTATION HALF-YEAR RESULTS 2022/2023 28 APRIL 2023 1
Slide 2: Your presenters today
Your presenters today Hassen RACHEDI 56 years old - CAP Boilermaker 2004: Creation of TSM Tuyauterie Service Maintenance Founding President and CEO 2008 : Beginning of the hydrogen activity with the support of a large French client Pioneer in hydrogen distribution for the manufacturing of refueling
Slide 3: Half-Year 2022/2023 highlights
Half-Year 2022/2023 highlights Solid sales momentum as of Increase of half year revenue: January 19, 2023: 10.9 M +137% vs H1 - 21/22 Order book of €109 million Projects in shortlist or final negotiation for a total amount of: €92 million Commercial pipeline in prospecting: approximately €1.1 billio
Slide 4: Half-year results of 2022/2023
Half-year results of 2022/2023 Intense commercial activity during the first 6 months of 2022/2023 Continued deployment of the 2021-2025 plan 4
Slide 5: Revenues for H1 2022/2023 up +137% to €10.9 M
Revenues for H1 2022/2023 up +137% to €10.9 M H1 H1 k€ Variation Revenue recognition by the percentage of 2021/2022 2022/2023 completion Revenue 4,591 10,897 +137% • 7.9 M€: Production start-up of 11 new station orders • 1.4 M€: Remaining sales of 21 stations Hydrogen stations 3,793 9,233 +143% orde
Slide 6: Acceleration of growth: hiring plan ahead and first 1 ton/day stations
Acceleration of growth: hiring plan ahead and first 1 ton/day stations H1 H1 k€ Variations Hydrogen Stations + Industrial Piping segment 2021/2022 2022/2023 Start-up of the new 1 ton/day stations Revenue 4,591 10 ,897 +6,306 Gross margin: 26% vs 38% à N-1 Operating expenses -5,268 -13,890 -8,622 Cos
Slide 7: H1 2022/2023 cash flow: improved change in WCR
H1 2022/2023 cash flow: improved change in WCR H1 FY H1 k€ 2021/2022 2021/2022 2022/2023 Net income -794 -234 -2,684 Self-financing capacity -676 -1,267 -2,792 Improved collection of cash from customers WCR net variation -3,200 -10,950 -1,815 Consumption of the previous stocks build-up Net cash flow
Slide 8: Solid financial structure allowing HRS industrial and commercial expansion
Solid financial structure allowing HRS industrial and commercial expansion 30 June 31 Dec 30 June 31 Dec k€ k€ 2022 2022 2022 2022 Non-current assets 22,392 33,266 66,428 62,221 Shareholders’ equity o/w Intangible assets 1,534 2,125 9,245 15,151 Non-current liabilities o/w Tangible assets 9,680 18,7
Slide 9: Intense commercial activity during the first 6 months of 2022/2023
Half-year results of 2022/2023 Intense commercial activity during the first 6 months of 2022/2023 Continued deployment of the 2021-2025 plan 9
Slide 10: One of the largest installed base in Europe
One of the largest installed base in Europe 9 “new generation” stations planned already installed Recent commissioning : Issy-les-Moulineaux Le Mans La Roche-sur-Yon First stone: Lorient in addition to the 34 “older generation” stations deployed between 2014 and 2020 28/04/2023 Hydrogen Refueling So
Slide 11: Framework agreement with pHYnix for European hydrogen mobility projects
Framework agreement for the deployment of European hydrogen mobility projects with pHYnix Partnership until 2027 HRS becomes one of the main suppliers of stations Independent European producer for pHYnix’s projets of green hydrogen and related services Project pipeline of 1.7 GW 8 firm orders served
Slide 12: Commercial and technological partnership with ENGIE
Commercial and technological partnership with ENGIE Develop a range of hydrogen refueling stations adapted to the needs of ENGIE Solutions Developing 15 hydrogen projects 15 together between 2022 and 2026 First station ordered 1+3 and 3 additional stations planned by 2024 12
Slide 13: Orders intake in H1 2022/2023
Orders intake in H1 2022/2023 Order As of 19 January 2023 OTHERS Intake of 4 +47 stations 8 in backlog 10 Commitments for firm orders for +€100M Commitments for 15 stations, probabilized at 67% in backlog 25 74 Commitments for 50 stations, probabilized at 50% in backlog 27 STATION ORDERED STATION OR
Slide 14: An order book of €109 M for the stations
An order book of €109 M for the stations As of 19 January 2023 Order Backlog 2020/2022 H1 2022/2023 +81% since Oct. 2022 - €42 M GAUSSIN €109 M + €100.1 M STRATEGIC REVIEW €9.2 M STATION REVENUE IN H1 2022/2023 + €42 M €23.2 M €60.2 M GAUSSIN STATION REVENUE 2020/2022 ORDER INTAKE IN H1 2022/2023**
Slide 15: Total commercial pipeline of €1.2 Billion
Total commercial pipeline of €1,2 Billion As of 19 January 2023 PROSPECTING ORDER ONGOING (calls for projects pending response) BACKLOG NEGOTIATIONS** STATIONS STATIONS STATIONS to be delivered by 2026 for potential delivery to be delivered between between 2023 and 2026 2023 and 2027 €109 M* €92 M €
Slide 16: The new production site
The new production site Start of the production this year ENVIRONMENTAL CERTIFICATION « BREEAM very good » 30 m€ investment 2.6ha area Champ-sur-Drac Station 1 ton/day Factory Social Premises 10 000 m² 1 000 m² 180 stations/year 14 300 m² Offices Test area 3 300 m² 2 000aum² Chantier 05/07/22 Hydrog
Slide 17: Innovation at HRS to boost hydrogen mobility sector
Innovation at HRS to boost hydrogen mobility sector INTEGRATION OF PUBLIC ORGANIZATIONS INVOLVEMENT IN 2 EUROPEAN PROJECTS TO BOOST THE DEPLOYMENT OF HEAVY DUTY MOBILITY RHEADHY 1 Design of key components to ensure very high flow refueling line for 700bar H2 truck. Fully implement & validate new ref
Slide 18: Half-year results of 2022/2023
Half-year results of 2022/2023 Intense commercial activity during the first 6 months of 2022/2023 Continued deployment of the 2021-2025 plan 18
Slide 19: Support and drive Plug's commercial deployment
Support and drive Plug’s commercial deployment With a specific refueling station 60,000 fuel cells Specific stations designed to supply hydrogen around the world to fleets of forklifts fitted with Plug’s fuel cell solution Stations HRS 200 kg/day ordered since 5 the start of H2 2022/2023 19
Slide 20: Selected for large-scale projects
Selected for large-scale projects Zéro Émission Valley (ZEV) HYMPULSION Largest green station project in France 18 stations by 2024 450 captive vehicles 115 heavy vehicles HRS 200 stations 5 already ordered 2 Request to move upmarket to 1 ton/ day First station installed in Saint-Priest in late 2021
Slide 21: GCK and Flex'hy choose HRS
GCK and Flex’hy choose HRS to speed up the implementation of its charging solutions for hydrogen mobility AGILE HYDROGEN DISTRIBUTOR 1 Station HRS 200 kg/day ordered Ambition du address heavy mobility market with green H2 solutions (supply + distribution) 21
Slide 22: Increase in the 2022/2023 annual revenue growth target from 50% to 70%
Increase in the 2022/2023 annual revenue growth target from 50% to 70% Revenue >€85m EBIT ≈20% Snapshot between mid-2020 and mid-2025 +100 new stations to be delivered Targeted revenue €25,5m Revenue €29m Stations Revenue €17.0m Revenue €10.5m Stations €2.5m €15.1M €8.3M Stations Industrial Stations
Slide 23: Next financial communication 27 July 2023
NEXT FINANCIAL COMMUNICATION 27 JULY 2023
Slide 24: Appendix
Appendix Corporate Headquarter: Contact: ZA des Viallards Email: contact@h-r-s.fr, Tel. +33 476 140 778 38560 Champ Sur Drac, France HYDROGEN-REFUELING-SOLUTIONS.FR
Slide 25: Shareholding
Shareholding Capital holdings at february 2023 Floating 33% Hassen RACHEDI 67% Directly and indirectly through HOLDING HR ISIN Code: FR0014001PM5 Mnemo Code: ALHRS 25
Slide 26: European infrastructure networks to be built
European infrastructure networks to be built STRONG GROWTH IN FUTURE DEMAND FOR STATIONS… 50 Number of hydrogen refueling stations stations An €8 billion market 15,000 in 2025 CAGR 400 (2020-2030) +12% stations in 2025 400/1,000 1,500 CAGR +18% 8,500 stations in 2025 CAGR in 2028 CAGR +20% +52% 670/
Slide 27: A fast-changing ecosystem, towards the massive development of hydrogen mobility
A fast-changing ecosystem, towards the massive development of hydrogen mobility Via the initiative National plan National plan Sovereign H2 MASSIVE « IPCEI* Hy2Tech » by 2030 by 2026 production chain PLANS €5.4 billions €4.4 billions €530 millions €5.3 billions ARE 41 projects 150 stations 40 statio
Slide 28: The EU and the US strongly support hydrogen mobility
The EU and the US strongly support hydrogen mobility Ambition: to install a 2 tons/day station every 100 km along the main $369 billion in roads subsidies for the electric car and renewable energy AFIR: regulation sectors in the US for the deployment of alternative fuel infrastructure EU INDUSTRY DE
Slide 29: A key position in the hydrogen value chain
A key position in the hydrogen value chain HYDROGEN HYDROGEN REFUELING STATION HYDROGEN SOURCE Hydrogen, compression, storage & distribution VEHICLES PIPELINE « TURNKEY » OFFER ELECTROLYSIS TUBE TRAILER 28/04/2023 Hydrogen Refueling Solutions Confidential and Proprietary Information 29
Slide 30: A full product range to fit market
A full product range to fit market HRS14 (14 kg/h) Best-seller HRS40 (40 kg/h) First orders HRS80 (80 kg/h) Available soon 1 ton Stations 300 kg to can be linked per day 2 tons per day to any type of electrolysers (low carbon Dual-pressure Simultaneous 12-month H2 project) 350 and 700 bar filling gu
Slide 31: Strategic partnership 2022-2023 with Hype, the first hydrogen taxi network
Strategic partnership 2022-2023 with Hype, the first hydrogen taxi network Potential revenue of €23 million Hydrogen taxi fleet 13 Stations 700 vehicles 2022 10 000 vehicles 2024 + 6 Stations 1,000kg / day 7 Stations 200kg / day = +5 other potential stations +Negotiation before the end of 2022 of an
Slide 32: HRS team - management and sales teams
HRS team - management and sales teams Hassen RACHEDI Kader HIDRA CEO and founder Olivier DHEZ Pioneer in hydrogen distribution Deputy CEO CFO 57 years old – « CAP » (« NVQ ») boilermaker 2004 : Creation of TSM Tuyauterie Service Maintenance +20-year experience +15-year experience Business & Product
Slide 33: Strategic review of long-term partnerships and risk-assessment of the order book
Strategic review of long-term partnerships and risk-assessment of the order book Firm orders for Commitments for Probability of Stations integrated into Stations placed in final stations additional transformation into firm the backlog negotiations or Partner already in the order orders orders * pros
Slide 34: Recurring revenues generated by maintenance contracts
Recurring revenues generated by maintenance contracts STATIONS MAINTENANCE Key assumptions* for recurring maintenance revenue estimates* on 2030 horizon: Start 12 to 24 months Assuming 300 stations after the installation installed by 2030 horizon: Contract of 1 to 10 years ANNUAL MAINTENANCE Billing
Hydrogen Refueling Solutions — H1 2022/2023 Earnings Presentation on 6ix