Ameresco, Inc. · NYSE:AMRC
Ameresco — Q1 2023 Earnings Presentation
13 slides from Ameresco's earnings presentation, May 1, 2023
Slide 1: Q1 2023 Supplemental Information
ameresco.com © 2023 Ameresco, Inc. All rights reserved. Q1 2023 Supplemental Information May 1, 2023
Slide 2: Safe Harbor Forward Looking Statements
2 Safe Harbor Forward Looking Statements Any statements in this presentation about future expectations, plans and prospects for Ameresco, Inc., including statements about market conditions, pipeline, visibility and backlog, as well as estimated future revenues, net income, adjusted EBITDA, Non-GAAP
Slide 3: Sources of Revenue – Q1 2023
Sources of Revenue – Q1 2023 3 Projects Energy efficiency and renewable energy projects Recurring Energy & incentive revenue from owned energy assets; plus recurring O&M from projects Other Services, software and integrated PV $183.2M $63.1M $24.8M
Slide 4: 78% of Adjusted EBITDA Came From Recurring Lines of Business
Projects 15% Assets 73% O&M 5% Other 7% $27M Adjusted EBITDA* 78% of Adjusted EBITDA Came From Recurring Lines of Business 4 Projects 68% Assets 15% O&M 8% Other 9%23% Recurring $271M Revenue * Adjusted EBITDA percentages allocate corporate expenses according to revenue shareQ1 2023 78% Recurring
Slide 5: Energy Asset Portfolio – 3/31/2023
Energy Asset Portfolio – 3/31/2023 5 423 MWe of Energy Assets in operation. 94 MW of non-RNG biogas, 38MW of RNG, Solar is 277 MW, Other is 13 MW 491 MWe of total asset capacity. 432 MWe of Ameresco-owned capacity after minority interest Energy Assets 423 MWe Other: 3% Solar: 66% Biogas: RNG 9% Biog
Slide 6: Energy Asset Balance Sheet – 3/31/2023
Energy Asset Balance Sheet – 3/31/2023 6 * Net of unamortized debt discount and debt issuance costs of $1.3M on Corporate Debt and $16.8M on Energy Debt $0.6B of the $1.3B energy assets on our balance sheet are still in development or construction. $469M of the $945M* of total debt on our balance sh
Slide 7: Tremendous Forward Visibility: Backlog & Recurring Revenue Business
$0 $500,000,000 $1,000,000,000 $1,500,000,000 $2,000,000,000 $2,500,000,000 Awarded Project Backlog Contracted Project Backlog Operating Energy Assets O&M Backlog Additional Estimated Revenue from Market Price RNG** $1.2B Tremendous Forward Visibility: Backlog & Recurring Revenue Business 7 ~ 12-24
Slide 8: Sustainable & Profitable Business Model
Sustainable & Profitable Business Model 8 Revenue ($M) $787 $867 $1,032 $1,216 $1,824 $1,450 2018 2019 2020 2021 2022 2023 Guidance $1,550 $91 $91 $118 $153 $205 $210 $300 2018 2019 2020 2021 2022 2023 Guidance 2024 Target Adjusted EBITDA ($M) $220 2023 Guidance • High-End 19.3% CAGR • Low-End 18.2%
Slide 9: Enabling a Low Carbon Future
Enabling a Low Carbon Future Since 2010, Ameresco’s renewable energy assets & customer projects delivered a Carbon Emission Reduction equivalent to: Greenhouse gas emissions from… 36 billion miles driven by an average passenger vehicle Carbon sequestered by… 17 million acres of U.S. forests in one y
Slide 10: Thank You to Our Customers, Employees, and Shareholders
ameresco.com © 2023 Ameresco, Inc. All rights reserved. to Our Customers, Employees, and Shareholders Thank You
Slide 11: Non-GAAP Financial Measures
11 Non-GAAP Financial Measures We use the Non-GAAP financial measures defined and discussed below to provide investors and others with useful supplemental information to our financial results prepared in accordance with GAAP. These Non-GAAP financial measures should not be considered as an alternati
Slide 12: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation 12 (Unaudited) (Unaudited) Adjusted EBITDA: Net income attributable to common shareholders 1,102$ 17,384$ Impact from redeemable non-controlling interests 32 1,914 (Less) plus: Income tax provision (benefit) (503) 2,307 Plus: Other expenses, net 8,043 7,081 Plus: Depr
Slide 13: GAAP to Non-GAAP Reconciliation (continued)
GAAP to Non-GAAP Reconciliation (continued) 13 * Adjusted EBITDA by Line of Business includes corporate expenses allocated according to revenue share $000 USD Projects Operating Assets O&M Other Consolidated Adjusted EBITDA: Net (loss) income attributable to common shareholders (1,300)$ 1,149$ 532$