Ellomay Capital Ltd · AMEX:ELLO
Ellomay Capital — Investor Presentation (June 2019)
24 slides from Ellomay Capital's investor presentation, Jun 17, 2019
Slide 1: Investors Presentation – June 2019
Integrated Developer Owner and Operator of Renewable Energy Projects Investors Presentation – June 2019
Slide 2: General and Forward-Looking Statements
General: The information contained in this presentation is subject to, and must be read in conjunction with, all other publically available information, including our Annual Report on Form 20-F for the year ended December 31, 2018, and other filings that we make from time to time with the SEC. Any p
Slide 3: Investor Highlights
Investor Highlights Financial and technological expertise Active in various markets and locations From development to operation Trusted by financial institutes and banks Renewable energy as a long term, adaptable business Ongoing growth with conservative leverage ratios Public company traded in TASE
Slide 4: Our Vision
Our Vision To be ahead of the curve in the green energy generation and storage technologies. To be a profitable and sustainable business based on enhanced financing strategies and advanced technological expertise. To provide comprehensive solutions, from development to operation, enabling a stable s
Slide 5: Our Objectives
Growing our renewable energy and power generation activities – from development to operation – in Europe and Israel. Continuous growth Creating continuous cash flow from various assets in diverse renewable energy and energy storage applications. Constant cash flow Maintainingrelatively lowleverage r
Slide 6: Business Development Roadmap
Business Development Roadmap Acquired51% of Biogas projects in Netherlands Manara Cliff - Conditional license for pumped storage Talasol, Spain - Signed a PPA for 80% of the expected output Sold 49% of Talasol’s equity 2016 2017 2018 2019 Acquired Talmei Yosef PV Plant Commercial operation of first
Slide 7: Financial Forecast (in million of Euro)
Financial Forecast (in million of Euro) The PV Plant located in Talmei Yosef, Israel is presented under the fixed asset model and not under the financial asset model as per IFRIC 12. Not including profit from the Sale of 49% holdings of the Talasol Project and of potential sale of holdings of the Ma
Slide 8: Development Projects – Growth
Development Projects – Growth Early stage Development500 MWp Under Development184 MWp Under Construction300 MWp Connected to the grid 138.5 MWp Spain - Talasol, PV 300 MWP Israel - Manara Cliff, Pumped Storage Italy and Spain - PV aggregated 500 MWP Spain - Ellomay Solar 28MW PV (1) PV – Italy, Spai
Slide 9: Diverse Green Energy Infrastructure
DiverseGreen Energy Infrastructure Development, Construction, Operation Solar Energy | PV Waste to Energy | Bio Gas Clean Energy | Natural Gas Energy Storage | Pumped Storage 9
Slide 10: Projects Summary (EUR Millions)
Projects Summary (EUR Millions) Projects % Ownership License MWp/ MWp/h Expected distribution in 2019 Expected Annual revenues in 2019 Expected Annual EBITDA in 2019 Expected Annual FFO in 2019 Expected Debt as of December 31, 2019 Expected interest payment in 2019 Expected Cash flow -2019 Connected
Slide 11: Projects Summary (EUR Millions)
Projects Summary (EUR Millions) Projects % Ownership License MWp/ MWp/h Expected Annual Income following commercial operation Expected Annual EBITDA following commercial operation Expected Annual FFO following commercial operation Debt Expected interest payment Expected Cash Flow following commercia
Slide 12: Spain - Talasol
Spain - Talasol Business strategy and timeline: Acquired:2017 Expected Capacity:300 MWp Plant type:1 PV plant Starting power production:Expected H2/2020 Location:Talaván, Cáceres, Spain ExpectedCost:EUR 227M Expected Annual Revenue:EUR 23-25M June 2018:METKA –procurement and engineering agreement Ju
Slide 13: Israel - Manara Cliff
Israel - Manara Cliff Expected Capacity:156 MWp Starting power production:Expected 2024 Location:Manara Cliff - Israel ExpectedCost:EUR 350M Acquired:Ellomay Capital Ltd. –75% Sheva Mizrakot Ltd. –25% Plant type:1 pumped storage plant August 2016:Conditional license granted for construction November
Slide 14: Key Balance Sheet Figures
Key Balance Sheet Figures December 31, 2017 % Of BS December 31, 2018 % Of BS Cash and cash equivalent, marketable securities 26,124 13% 32,014 18% Financial Debt* 106,515 54% 117,435 56% Financial Debt, net* 80,391 41% 78,421 37% Property, plant and equipment net (mainly in connection with PV Opera
Slide 15: Key Financial Ratios
Key Financial Ratios December 31,2017 December 31,2018 Financial Debt to CAP * 58% 60% Financial Debt, net to CAP * 44% 40% * See Appendix B for calculations Strong Balance Sheet, Sufficient Liquidity
Slide 16: Summary
Summary Renewable energy industry enjoys favorable business prognosis and supportive regulation Competitive pricing,no need for governmental subsidizing High segmental and geographic diversity. Revenue not dependent on a specific project Long termagreements reducedemand market risk Value based finan
Slide 17: Renewable Energy Market and Business Environment
Renewable energy is an ongoing, worldwide sustainable economy trend, with an ever growing production and consumption of green energy. Renewable Energy Market and Business Environment http://www.brinknews.com/eu-2020-renewable-energy-goals-on-track/ http://appsso.eurostat.ec.europa.eu/nui/show.do?dat
Slide 18: Israel - Renewable Energy Production Goals
Israel - Renewable Energy Production Goals https://www.gov.il/he/Departments/General/renewable_energyhttps://www.evm.co.il/israel/אנרגיות-מתחדשות-הפוטנציאל-הלא-ממומש-ש/ 2.26%Actually produced
Slide 19: The Photo-Voltaic Market Overview
The Photo-Voltaic effect enables conversion of light into electricity using semiconductors.IEA:PV expected todoubleuntil 2023 The Photo-Voltaic Market Overview https://www.iea.org/renewables2018/ ©OECD/IEA Bioenergy Solar Thermal Hydropower Geothermal Wind Marine Solar PV Renewable energy consumptio
Slide 20: Waste-to-Energy Market Overview
Waste-to-Energy Market Overview Biogas is a renewable energy source, produced by fermentation of organic matter. Expected CAGR 2018-2024 is 6%* Number of biogas plants per 1 Mio capita in European countries in 2017 * https://www.statista.com/statistics/480452/market-value-of-waste-to-energy-globally
Slide 21: Pumped Hydro Storage Market Overview
The Pumped Hydro Storage method stores energy in the form of gravitational potential energy of water, pumped from a lower elevation reservoir to a higher elevation.365/24/7Energy storage enables power delivery all day and all year round. Pumped Hydro Storage Market Overview https://www.gminsights.co
Slide 22: Thank You
THANK YOUFor further Info:Ran Fridrich, CEO: ranf@ellomay.comKalia Weintraub, CFO: kaliaw@ellomay.com www.ellomay.com
Slide 23: Appendix A - EBITDA and FFO
Appendix A - EBITDA and FFO EBITDA and FFO are non-IFRS measures. EBITDA is defined as earnings before financial expenses, net, taxes, depreciation and amortization and FFO (funds from operations) is calculated by adding tax and financing expenses to EBITDA. The Company presents these measures in or
Slide 24: Appendix B – Leverage Ratios
As of December 31, As of December 31, 2017 2018 Current liabilities Loans and borrowings € (3,103) € (5,864) Debentures € (4,644) € (8,758) Non-current liabilities Finance lease obligations € (3,690) € - Long-term loans € (42,091) € (60,228) Debentures € (52,987) € (42,585) Financial Debt (A) € (106