7c Solarparken Ag · XETR:HRPK
7c Solarparken — Investor Day (November 2021)
60 slides from 7c Solarparken's investor day presentation, Nov 25, 2021
Slide 1: Analyst Presentation 2021-24 Plan
Analyst Presentation 2021-24 Plan 25 NOVEMBER 2021 VIRTUAL Steven De Proost, CEO & Koen Boriau, CFO 1
Slide 2: Disclaimer
DISCLAIMER This presentation is for information purposes only and does not constitute an invitation to purchase any securities of 7C SOLARPARKEN AG. All information contained herein has been carefully prepared. Nevertheless. we do not guarantee its accuracy or completeness. Certain statements contai
Slide 3: Agenda
AGENDA 1. Company Essentials 4 2. 2021 9M Results 16 3. Zero Emissions 20 4. Key Driver #1: Market Growth 25 5. Key Driver #2: Favourable Power Price 28 6. Challenges 34 7. PV Germany 37 8. PV Belgium 42 9. Objectives 2022-24 49 10. Guidance 2021-24 53 AGENDA 3
Slide 4: Business Model: Pure PV Owner & Operator with Focus on Germany and Belgium
BUSINESS MODEL Pure PV Owner & Operator with Focus on Germany and Belgium IPP PORTFOLIO ASSET MANAGEMENT PV ESTATE CASH FLOW GENERATOR SYNERGIES LONG-TERM VALUE Acquisition of running parks Recurring fees Internalising lease cost New-build development Economies of scale Repowering potential Optimise
Slide 5: Capital Appreciation Proposition: Sustainable Dividend + Growth
CAPITAL APPRECIATION PROPOSITION Sustainable Dividend + Growth GUARANTEED FEED-IN TARIFFS FOR > 11 YEARS HIGH EQUITY RATIO > 35% SUSTAINABLE DIVIDEND ATTRACTIVE EBITDA YIELD > 8% MARKET GROWTH FUELS SIZE &VALUATION POTENTIAL FOR M&A AS PURE-PLAY PV GROWTH PV ESTATE ENABLES LONG-TERM RE-POWERING 1. C
Slide 6: IPP Portfolio: Existing Assets 338 MWp, EBITDA ca. EUR 48 Mio
IPP PORTFOLIO Existing Assets 338 MWp. EBITDA ca. EUR 48 Mio Capacity % FIT Production Yield Revenues EBITDA LOCATION OF GERMAN PARKS > 2 MWP MWp EUR/MWh GWh kWh/kWp EUR Mio EUR Mio I Freefield 220 65% 156 222 1 005 34.5 29.9 II Rooftop 112 33% 210 98 881 20.5 17.4 Germany 85 25% 225 74 876 16.7 14.
Slide 7: IPP Portfolio: Accelerated Build-Up of Portfolio since IPO in 2014
IPP PORTFOLIO Accelerated Build-Up of Portfolio since IPO in 2014 ANNUAL CAPACITY ADDITIONS IN MWP BREAKDOWN OF 81 MWP ADDITIONS IN 2021 81 IRR Own development 12 MWP 69 Acquisition of operating parks 25 MWP 33 36 18 14 15 Turnkey EPC new-build 71 43 MWP 2014 2015 2016 2017 2018 2019 2020 2021 1. CO
Slide 8: IPP Portfolio: Breakdown by Tariff and Year of Commissioning
IPP PORTFOLIO Breakdown of 338 MWp by Tariff and Year of Commissioning COMMISSIONING YEAR AND AVERAGE FEED-IN TARIFF (EUR/MWH) PER YEAR PARKS WITH HIGH EBITDA PARKS WITH POWER PRICE OPTION VALUE 60 450 406 402 378 371 50 400 50 42 350 306 40 268 300 31 250 29 29 30 197 27 24 200 21 145 20 18 20 122
Slide 9: IPP Portfolio: Average Output 1,004 kWh/kWp during 2015-21
IPP PORTFOLIO Average Output 1 004 kWh/kWp during 2015-21 QUARTERLY BREAKDOWN OF SPECIFIC YIELD IN KWH/KWP YEAR 2015 2016 2017 2018 2019 2020 2021 2015-21 Reported kWh/kWp 1044 961 982 1063 1022 1023 928 1004 versus 10Y irradiation 2.0% -3.1% -3.6% 6.8% 2.3% 4.2% -4.8% 0.5% 120 114 67 99 99 96 98 99
Slide 10: Financial Profile: Steady EBITDA Growth and Equity Ratio > 35%
FINANCIAL PROFILE Steady EBITDA Growth and Equity Ratio > 35% EBITDA AND EBITDA RETURN (EBITDA/TOTAL ASSETS) EQUITY RATIO AND CASH FLOW PER SHARE 40% 0,65 50 11,0% 35% 10.2% 35% 0,60 45 9.6% 32% 9.5% 9.4% 10,0% 8.9% 30% 0,55 40 30% 29% 9,0% 25% 0,50 35 7.6% 8,0% 25% 23% 30 0.55 0.57 0,45 7,0% 0.60 2
Slide 11: Valuation: Market Cap versus Installed Capacity
VALUATION Market Cap versus Installed Capacity 350 5 KEY EVENTS SINCE REVERSE IPO LATE 2014 300 1 Listing of the new group 7C Solarparken after business combination with Colexon Energy AG (26 MWp) 4 250 2 Business combination with Miskina (14 MWp) 200 3 Entry in Project Development financed by issue
Slide 12: Valuation: Price-CF Multiple driven by Size & Market Cap
VALUATION Price-CF Multiple driven by Size & Market Cap (own experience) 7C SOLARPARKEN: HISTORICAL P/CF AND MARKET CAP 350 9,0 THREE TURNING POINTS: 8,0 8,0 300 7,1 7,0 1. 2017-19 “200 MWP STRATEGY” Multiple expansion strategy by growing to 200 MW 250 / 200 Mio EUR market cap through various capita
Slide 13: Valuation: Price-CF Multiples driven by Size & Market Cap
VALUATION Price-CF Multiples driven by Size & Market Cap PEER GROUP P/CF 2021 MULTIPLES BY MARKET CAP > 4bn EUR > 1bn EUR < 1bn EUR 25,0 17.3x 20,0 16.1x 15,0 10.2x 10,0 5,0 - Source: Marketscreener 1. COMPANY ESSENTIALS 13
Slide 14: Shareholders: Free float increased to 76%, Liquidity ca. 400T EUR/day
SHAREHOLDERS Free float has further increased to 76%. Liquidity ca. 400T EUR/day 12 MONTHS PERFORMANCE VERSUS PEERS (*) & LIQUIDITY OWNERSHIP STRUCTURE ESG money-flow 5,00 3% 3% 4,80 Free float 5% 4,60 Power price 6% Rodolphe de Spoelberch 4,40 7% 4,20 Vlaamse Energieholding 4,00 Distri Beheer 21 3,
Slide 15: Agenda
AGENDA 1. Company Essentials 4 2. 2021 9M Results 16 3. Zero Emissions 20 4. Key Driver #1: Market Growth 25 5. Key Driver #2: Favourable Power Price 28 6. Challenges 34 7. PV Germany 37 8. PV Belgium 42 9. Objectives 2022-24 49 10. Guidance 2021-24 52 AGENDA 15
Slide 16: Reference Yield Q3'21 8% below Normal
REFERENCE YIELD Q3’21 8% below Normal. 9M’21 5% below Normal NATIONWIDE KWH/KWP Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Q3 9M YEAR 2011 21 41 101 132 147 122 112 116 100 75 41 15 328 892 1.023 2012 26 47 93 100 138 118 125 130 96 62 27 15 351 873 977 2013 12 25 74 98 103 125 148 124 82 59 26
Slide 17: KPI's: Relative PV Output Yield
KPI’S Relative PV Output Yield falls in line with Reference to 818 kWh/kWp 9M’21 OPERATIONAL OUTPUT FIGURES 9M 2021 2021 9M 2020 9M % COMMENT Solar + Wind in GWh 235 198 19% Solar kWh/kWp 818 928 -12% Poor irradiation conditions Wind (kWh/kW operating hours) 1 338 1 857 -28% Poor wind conditions Sol
Slide 18: Financials: EBITDA +6%, Equity Ratio at Record 39%
FINANCIALS EBITDA +6%. Equity Ratio at Record 39% FINANCIAL RESULTS 9M 2021 EUR Mio 9M 21 9M 20 % COMMENT Revenues 47.4 44.9 6% _ power sales 46.6 43.6 GWh x FIT _ others 0.8 1.3 Sale of services Other operating income 1.5 1.3 16% Including compensation from outfalls EBITDA 42.0 39.7 6% Net debt 167
Slide 19: Agenda
AGENDA 1. Company Essentials 4 2. 2021 9M Results 16 3. Zero Emissions 20 4. Key Driver #1: Market Growth 25 5. Key Driver #2: Favourable Power Price 27 6. Challenges 34 7. PV Germany 37 8. PV Belgium 41 9. Objectives 2022-24 48 10. Guidance 2021-24 52 AGENDA 19
Slide 20: Net Zero Carbon 2050
NET ZERO CARBON 2050 No other Solution to keep Temperature Rise below 1.5°C GLOBAL WARMING SCENARIO CO2 EMISSIONS GLOBALLY Source: World Energy Outlook 2021 Source: World Energy Outlook 2021 (*) NZE = Net Zero Emissions SDS = Sustainable Development APS = Announced Pledges STEPS = Stated policies 3.
Slide 21: The New Energy System 2050: Renewables, Electrification & Hydrogen
THE NEW ENERGY SYSTEM 2050 Renewables. Electrification & Hydrogen THREE GAME-CHANGERS: 1. ELECTRIFICATION: Electricity will become the main energy carrier; from 21% of total energy consumption in 2018 to 51% by 2050. Heating and transport will be gradually electrified. 2. RENEWABLES: 90% of electric
Slide 22: Renewables: Solar PV and Wind dominate with Lowest Cost Globally
RENEWABLES Solar PV and Wind dominate with their Lowest Cost Globally CAPITAL COSTS USD/KW LEVELISED COST OF ELECTRICITY USD/MWH 7.000 300 6.000 250 5.000 200 4.000 150 3.000 100 2.000 1.000 50 - - Nuclear Coal Gas CCGT Solar PV Wind Wind Nuclear Coal Gas CCGT Solar PV Wind Wind onshore offshore ons
Slide 23: Effect on CO2 Price
EFFECT ON CO2 PRICE up to EUR 130/t in 2030. even EUR 120/t under APS CO2 PRICES IN EUR/T BASED ON SCENARIO 250 200 205 170 130 120 90 75 60 65 60 60 25 25 25 STEPS (Stated Policies) APS (Announced Pledges) NZE (Net Zero Emissions) 2020 2021 2030 2040 2050 Source: World Energy Outlook 2021 3. ZERO E
Slide 24: Agenda
AGENDA 1. Company Essentials 4 2. 2021 9M Results 16 3. Zero Emissions 20 4. Key Driver #1: Market Growth 25 5. Key Driver #2: Favourable Power Price 28 6. Challenges 34 7. PV Germany 37 8. PV Belgium 42 9. Objectives 2022-24 49 10. Guidance 2021-24 52 AGENDA 24
Slide 25: Market Growth: PV remains dominant Source of Growth in 2021
MARKET GROWTH PV remains dominant Source of Growth in 2021 ANNUAL ADDITIONS IN CAPACITY GERMANY (GW). JAN-SEP FOR 2021 Source: Fraunhofer. Energy Charts 4. KEY DRIVER #1 MARKET GROWTH 25
Slide 26: Market Growth: PV to grow by 7.5 GW on Average per Year in Germany
MARKET GROWTH PV to grow by 7.5 GW on Average per Year in Germany OUTLOOK CUMULATIVE RENEWABLES MARKET GW IN GERMANY REGULATORY DRIVERS NEW BUILD OPPORTUNITY 1. PHASE-OUT OF CONVENTIONAL POWER: Nuclear (8 GW) and coal (43 97 GW) will be dismantled in full by 2023 and 2038 respectively. 89 81 73 65 5
Slide 27: Agenda
AGENDA 1. Company Essentials 4 2. 2021 9M Results 16 3. Zero Emissions 20 4. Key Driver #1: Market Growth 25 5. Key Driver #2: Favourable Power Price 28 6. Challenges 34 7. PV Germany 37 8. PV Belgium 42 9. Objectives 2022-24 49 10. Guidance 2021-24 52 AGENDA 27
Slide 28: Power Price Short Term driven by Commodity Fluctuations
POWER PRICE SHORT TERM driven by Commodity Fluctuations. mainly Gas & Coal COAL PRICE US$/TONNE CO2 PRICE EUR/TONNE NATURAL GAS PRICE TTF EUR/MWH OIL IN US$/BARREL 5. KEY DRIVER #2 FAVOURABLE POWER PRICE 28
Slide 29: Power Price Short Term: Forward Pricing EUR 115/MWh for 2022
POWER PRICE SHORT TERM Forward Pricing EUR 115/MWh for 2022 GERMANY ELECTRICITY PRICE BASE-LOAD EUR/MWH & FORWARD 2022 180 THE H2 2021 ENERGY SHOCK UNLIKELY TO BE DISRUPTIVE EUR 135/MWH WINTER 160 180 1. GLOBAL ECONOMIC RECOVERY leads to high demand for coal. 140 160 particularly in China and India
Slide 30: Power Price Short Term: Watch the Natural Gas Reserves in EU
POWER PRICE SHORT TERM Watch the Natural Gas Reserves in EU NATURAL GAS STORAGE LEVEL IN EU (%) 100 95 90 85 80 75 70 65 60 55 50 No buffer in case of a cold 45 winter => gas and power 40 price may still have to peak 35 30 25 20 15 10 1/jan 1/feb 1/mrt 1/apr 1/mei 1/jun 1/jul 1/aug 1/sep 1/okt 1/nov
Slide 31: Power Price Long Term: At least Short-Run Cost of CCGT
POWER PRICE LONG TERM At least Short-Run Cost of CCGT EUR 68-77/MWh CCGT GAS COST EUR/MWH CLIMATE SCENARIO STEPS APS NEZ 2021 Q4 2022 2030 2030 2030 PRICE SETTING INPUT Natural gas price EUR/MWh 70 46 23 19 11 CO2 price EUR/t 60 60 65 120 130 Capex EUR/kW 850 850 850 850 850 Base-load hours 7.446 7.
Slide 32: Power Price Long Term: External Forecast confirms our View
POWER PRICE LONG TERM External Forecast confirms our View for 2020 and Beyond BASE LOAD EUR/MWH FORECAST BRAINPOOL ENERGY ELECTRICITY DEMAND GERMANY TWH EUR 65-80/MWH UNTIL 2030 Source: Brainpool Energy Source: Agora Energiewende 5. KEY DRIVER #2 FAVOURABLE POWER PRICE 32
Slide 33: Agenda
AGENDA 1. Company Essentials 4 2. 2021 9M Results 16 3. Zero Emissions 20 4. Key Driver #1: Market Growth 25 5. Key Driver #2: Favourable Power Price 28 6. Challenges 33 7. PV Germany 37 8. PV Belgium 42 9. Objectives 2022-24 49 10. Guidance 2021-24 52 AGENDA 33
Slide 34: Component & Shipping Prices 50% higher than 2020
COMPONENT & SHIPPING PRICES 50% higher than 2020. longer lead Times RAW MATERIALS PRICE PV PANEL PRICE US$/WP +50% LONG LEAD TIMES IN GERMAN MARKET: Waiting queue of > 6 months for transformers and German plant certification 6. CHALLENGES 34
Slide 35: Redispatch 2.0 to avoid Congestion and Grid Bottlenecks
REDISPATCH 2.0 to avoid Congestion and Grid Bottlenecks => Need for data = OPEX COMPARISON REDISPATCH 2.0 WITH 1.0 IMPACT FOR PV OWNERS/OPERATORS IS DATA-DRIVEN 1. Prognosis on daily production for individual plants to grid operators directly (e.g. maintenance. unavailable inverters) or via energy t
Slide 36: Agenda
AGENDA 1. Company Essentials 4 2. 2021 9M Results 16 3. Zero Emissions 20 4. Key Driver #1: Market Growth 25 5. Key Driver #2: Favourable Power Price 28 6. Challenges 34 7. PV Germany 37 8. PV Belgium 42 9. Objectives 2022-24 49 10. Guidance 2021-24 52 AGENDA 36
Slide 37: Feed-in Tariffs: Large Plants are now preferred Route
FEED-IN TARIFFS Market Signals that large Plants are now preferred Route FEED IN TARIFF EUR/MWH ROOFS VERSUS FREEFIELD AVERAGE LCOE GERMANY EUR/MWH ROOFTOP ATTRACTIVE FREEFIELD ATTRACTIVE Large roofs EEG < 750 kWp Freefield FFAV < 20 MWp EUR 80/MWH 120 EUR 70/MWH 100 EUR 50/MWH 80 60 40 PV Rooftop S
Slide 38: Segmentation: Large Open-Space Plants to take the Lead over Time
SEGMENTATION Large Open-Space Plants to take the Lead over Time PV MARKET GERMANY IN GW 2020-50 POTENTIAL FIELDS FOR NEW INSTALLATIONS IN GWP Current Market 54 Vehicles 44 Floating 44 Carport 59 Alongside the motorways 290 Buildings 1.000 Agricultural area 1.700 Source: Energy Charts Fraunhofer 7. P
Slide 39: FIT = Market Price + Market Premium
FIT = MARKET PRICE + MARKET PREMIUM Upside through fully capturing Power Price FEED IN TARIFF EUR/MWH: 2019 ROOFTOP FEED IN TARIFF EUR/MWH: 2019 FFAV FREEFIELD 140 140 120 120 Example: EUR 103/MWh 100 100 80 80 60 60 Example: EUR 50/MWh 40 40 20 20 - - mei/21 mei/19 mei/19 mei/20 mei/20 mei/21 mrt/1
Slide 40: Valuation of a New PV Plant: Market Pricing can lift project IRR
VALUATION OF A NEW PV PLANT Market Pricing can lift project IRR from 2.5% to 4% CAPEX FOR A 10 MWP PV PLANT FREEFIELD EBITDA FOR A 10 MWP PLANT FREEFIELD IN EUR 700 700.000 45 600 25 600.000 500 40 25 500.000 230 400 400.000 210 IRR 4.0% 60 300.000 300 50 200.000 200 IRR 2.5% 290 100.000 100 210 - 0
Slide 41: Agenda
AGENDA 1. Company Essentials 4 2. 2021 9M Results 16 3. Zero Emissions 20 4. Key Driver #1: Market Growth 25 5. Key Driver #2: Favourable Power Price 28 6. Challenges 34 7. PV Germany 37 8. PV Belgium 42 9. Objectives 2022-24 49 10. Guidance 2021-24 52 AGENDA 41
Slide 42: EU Climate Targets: Still a Mountain to climb for Belgium
EU CLIMATE TARGETS Still a Mountain to climb for Belgium MEMBER STATES REALISATION OF EU CLIMATE ACTION 2020 POWER GENERATION MIX BELGIUM IN TWH 90 80 70 60 50 40 30 2020 Renewables <13% of primary energy 20 Renewables <30% of electricity consumption 10 - 2010 2013 2000 2001 2002 2003 2004 2005 2006
Slide 43: Plan for Future: PV and Offshore Wind will drive the Market
PLAN FOR FUTURE PV and Offshore Wind will drive the Market CLIMATE NEUTRAL BELGIUM BY 2050. POWER DEMAND TWH PLENTY OF RENEWABLE ENERGY POTENTIAL IN BELGIUM 1. SOLAR PV x10 is possible by 2050 to ca. 30-40 GWp. The current market is mainly a rooftop market driven by on-site consumption for industria
Slide 44: Income for PV #1: Green Certificates to PV Calls
INCOME FOR PV #1. Green Certificates -> PV Calls. comparable to Germany GREEN CERTIFICATES IN EUR/MWH UNTIL JULY 2021 PV CALL SYSTEM EUR/MWH AS FROM JULY 2021 25 20 15 Median successful bid: EUR 9/MWh 79 69 62 62 10 57 35 31 29 5 24 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 NOTE As from 2018 th
Slide 45: Income for PV #2: On-Site PPA
INCOME FOR PV #2. On-Site PPA = substantial Saving for End-User INDUSTRIAL CUSTOMERS PRICE 2022 BY PROFILE EUR/MWH 15 MINUTES VALUE KW CONSUMPTION / PRODUCTION 160 1.600 1.600 140 1.400 1.400 120 1.200 1.200 100 1.000 1.000 80 800 800 60 40 600 600 20 400 400 - 500 MWh 1 GWh 2.5 GWh 100 GWh 300 GWh
Slide 46: Realisations during 2021: Project References
REALISATIONS DURING 2021 Project References PORTFOLIO BUILD-UP 2021 Location MWp Grid connection Rieme 6.2 2021 Own development Groeni 10.9 2019-21 Acquisition Zottegem 0.1 2021 Own development Roeselare 0.1 2021 Own development Kortrijk 0.1 2021 Own development Gent 0.6 2021 Own development Lokeren
Slide 47: Success during PV Calls: Construction Pipeline for 2022
SUCCESS DURING PV CALLS Construction Pipeline for 2022 already at 10 MWp PROJECTS THAT GAINED SUBSIDIZED TARIFF IN PV CALLS 2021 (*) Location MWp Grid connection Meer 2.5 2022 Call #1. April 2021 Deinze 1.1 2022 Call #1. April 2021 Peer 0.3 2022 Call #1. April 2021 Zaventem 0.6 2023 Call #1. April 2
Slide 48: Agenda
AGENDA 1. Company Essentials 4 2. 2021 9M Results 16 3. Zero Emissions 20 4. Key Driver #1: Market Growth 25 5. Key Driver #2: Favourable Power Price 28 6. Challenges 34 7. PV Germany 37 8. PV Belgium 42 9. Objectives 2022-24 49 10. Guidance 2021-24 52 AGENDA 48
Slide 49: Objective #1: From 337 MWp towards 525 MWp IPP in 2024
OBJECTIVE #1: From 337 MWp towards 525 MWp IPP in 2024 IPP TARGET IN MWP BREAKDOWN OF 188 MWP NEW CAPACITY 75 1. OWN DEVELOPMENT > 25 MWP Numerous projects are in development and 60 in different stages of the permitting phase (Dessau. Rötz. > 50 rooftop & freefield sites in Belgium of which 8 have o
Slide 50: Objective #2: Performance Ratio should rise from 78.5% to 80%
OBJECTIVE #2: Performance Ratio should rise from 78.5% to 80% PERFORMANCE RATIO BY INSTALLATION OF IPP PORTFOLIO THREE INSTRUMENTS: 1. RELOCATION OF PART OF “KAISERSLAUTERN” SITE 2 MWp has been dismantled since summer and will be relocated to a freefield area owned by the Group. or to another roofto
Slide 51: Objective #3: Re-Leverage net debt/EBITDA from 4.1x to 5.0x
OBJECTIVE #3: Re-Leverage net debt/EBITDA from 4.1x to 5.0x -> less Capital needed NET DEBT/EBITDA 2021 INVESTMENT & FINANCING PLAN 2022-24 EUR MIO Pacifico Renewables Yield 9,7 15 Brookfield Renewable Partners 9,2 148 7 15 Neoen 7,6 Boralex 7,0 96 Atlantica Sustainable Infrastructure 6,7 Innergex 6
Slide 52: Agenda
AGENDA 1. Company Essentials 4 2. 2021 9M Results 16 3. Zero Emissions 20 4. Key Driver #1: Market Growth 25 5. Key Driver #2: Favourable Power Price 28 6. Challenges 34 7. PV Germany 37 8. PV Belgium 42 9. Objectives 2022-24 49 10. Guidance 2021-24 53 AGENDA 52
Slide 53: Guidance 2021: Small upward Revision due to higher Power Price
GUIDANCE 2021 Small upward Revision to Outlook 2021 due to higher Power Price GUIDANCE 2021 April September November In Mio EUR 2020 2021 2021 2021 Comment EBITDA 42.9 42.5 44.4 45.5 Almost fully related to higher power price Lease paid -0.9 -1.1 -1.5 -1.6 Cash interest paid -5.5 -5.3 -5.8 -6.0 Cash
Slide 54: Sensitivity Power Price: Capturing higher Price than Feed-in Tariff
SENSITIVITY POWER PRICE Capturing higher Price than Feed-in Tariff CAPTURE PRICE (Y) VERSUS POWER PRICE (X) IN EUR/MWH SOLAR MARKET PRICE VERSUS BASE-LOAD (2019-21 AVG) 250 120% 240 100% PV ratio: 91% 230 220 80% 210 200 60% 190 40% 180 EUR 169/MWh Q4’21 pricing 170 20% 160 0% 150 Jan Feb Mrt Apr Me
Slide 55: Forecast 2022: Power Sales to rise to EUR 62-65 Mio
FORECAST 2022 Power Sales to rise to EUR 62 - 65 Mio 2022 OUTLOOK BASED ON CURRENT MARKET PRICE AND LOW (2022 SRMC CCGT) SCENARIOS CURRENT LOW 2020 2021 2022 2022 COMMENT A Installed capacity MWp 256 338 400 400 Initial target 2023 now at the end of 2022 B Weighted operational MWp 211 290 356 356 Gr
Slide 56: Forecast 2022: EBITDA to climb to EUR 51-54 Mio
FORECAST 2022 EBITDA to climb to EUR 51-54 Mio. with CFPS up to EUR 0.54-0.58 2022 OUTLOOK BASED ON CURRENT MARKET PRICE AND LOW (2022 SRMC CCGT) SCENARIOS CURRENT LOW 2020 2021 2022 2022 COMMENT Power Sales in EUR Mio (=C x J) 49.1 54.3 65.0 62.2 Already includes growth to 356 MWp weighted capacity
Slide 57: Forecast 2023-24: Power Sales to rise to EUR 72 Mio by 2024
FORECAST 2023-24 Power Sales to rise to EUR 72 Mio. by 2024 2023-24 OUTLOOK BASED ON FORWARD MARKET PRICING CURRENT 2022 2023 2024 COMMENT A Installed capacity MWp 400 460 525 B Weighted operational MWp 356 418 500 C Production GWh (PV+Wind) 351 415 500 D Operating hours (PV+Wind) 987 993 999 E Spec
Slide 58: Forecast 2023-24: CFPS to rise to 0.60 per share by 2024
FORECAST 2023-24 CFPS to rise structurally to 0.60 per share by 2024 2023-24 OUTLOOK BASED ON FORWARD MARKET PRICING CURRENT 2022 2023 2024 COMMENT Power Sales in EUR Mio (=C x J) 65.0 66.0 72.0 Other revenues in EUR Mio 1.0 1.0 1.0 Other income in EUR Mio 0.5 0.5 0.5 Opex in EUR Mio 12.4 13.4 14.6
Slide 59: Dividend EUR 0.11/share for the Period 2021-24
DIVIDEND EUR 0.11 /share for the Period 2021-24 DIVIDEND POLICY ✓ A stable and predictable dividend or dividend equivalent ✓ Shareholders can be rewarded through dividends in cash. in stock or through share buy-backs ✓ Dividends will grow in line with the key performance indicators of the group. not
Slide 60: Contact
CONTACT CONTACT 7C SOLARPARKEN AG An der Feuerwache 15 95445 Bayreuth / Germany +49 (0) 921 23 05 57 77 www.solarparken.com ir@solarparken.com CONTACT 60