Panasian Power Ltd. · CSELK:PAP.N0000
Panasian Power — Q3 FY2020/21 Earnings Presentation
18 slides from Panasian Power's earnings presentation, August 2021
Slide 1: Panasian Power PLC Q3 Earnings-Update
PANASIAN POWER PLC A RENEWABLE ENERGY COMPANY Q3 Earnings-Update CSE:PAP
Slide 2: Forward Looking Statements Disclaimer
Forward Looking Statements Disclaimer This written and accompanying oral presentation contains certain forward-looking statements which are provided for the purpose of presenting information about management’s current expectations and plans. Readers are cautioned that such statements may not be appr
Slide 3: Agenda
Agenda 1. Introduction 2. Strategy 3. Key Highlights 4. Financial Review of Q3 – FY20/21 5. Long Term Growth and Strategy Plan 6. Closing Remarks/Q&A 3
Slide 4: Building a leading listed renewable energy solutions provider
Building a leading listed renewable energy solutions provider 18+ years of experience in renewable energy infrastructure and energy solutions Diversified, 4.9 MWp Ground 9 Rooftop Solar modern asset 3 Hydro Power Solar Power Power Plants – base – 50% hydro, Plants – 8.9 MW Plants 8.5 MWp 50% Solar S
Slide 5: PAP's Strategy
PAP’s Strategy Growth 20% YoY LKR 1 Billion 30MW installed capacity by December 2021 revenue by FY2021/22 EPC Solution Provider Alternate Funding Models Vertical/complementary investments Maintain sustainable leverage & 30% dividend payout Dollar Revenue Stream Through Overseas Expansion Continuous
Slide 6: Key highlights Q3 20/21
Key highlights Q3 20/21 1. 2.5 MWp rooftop commissioned in Q3 2. Sungrow inverter sales beat forecasts 3. Continued investment in solar portfolio with 2.5 MWp rooftop solar to be commissioned (construction complete) 4. Completed construction on 3.9 MWp ground solar in Matara – commissioned after qua
Slide 7: Portfolio (as of Feb 2021)
Portfolio (as of Feb 2021) Capacity Project Type Location (MW/MWp) Rathganga, Manelwala, Mini Hydro 8.9 Padiyapelella Colombo , Kurunegala, Rooftop Solar 11.2 Anuradhapura Beliatta , Matara, Maho (UC), Ground Solar 7.8 Pannala (UC) (UC) – under construction 7
Slide 8: Secured Pipeline (as of Feb 2021)
Secured Pipeline (as of Feb 2021) Project Location Size (MW/MWp) Tariff per kWh Ownership Status LKR 22 for 7 years, Awaiting connection to the Rooftop Solar Anuradhapura, Sri Lanka 2.5 LKR 15.5 for 13 100% grid years PPA received, land secured, LKR 14.77 – 20 Ground solar 1 MW Pannala, Sri Lanka 1.
Slide 9: Building a more resilient and consistent Group
Building a more resilient and consistent Group YTD Q3 YTD Q3 All figures in LKR 2019/20 2020/21 % Change • Solar revenue has increased 56% compared to the same period last year as we improved productivity of our existing solar assets as well as Revenue 405,825,735 474,817,399 17% commissioned 2.5MWp
Slide 10: Track Record of Growth in Financial Results
Track Record of Growth in Financial Results Quarterly Revenue (LKR) 300,000 250,000 200,000 Thousands 150,000 100,000 50,000 0 Q1 17/18 Q2 17/18 Q3 17/18 Q4 17/18 Q1 18/19 Q2 18/19 Q3 18/19 Q4 18/19 Q1 19/20 Q2 19/20 Q3 19/20 Q4 19/20 Q1 20/21 Q2 20/21 Q3 20/21 11
Slide 11: Diversification of Revenue
Diversification of Revenue 2018/2019 EPC 2019/2020 Q3 2020/21 EPC Services Services EPC 8% 20% Solar 17% Power Solar 16% Power 1% Solar Power 19% Hydro Power 64% Hydro Hydro Power Power 79% 76% Hydro Power Solar Power EPC Services Hydro Power Solar Power EPC Services Hydro Power Solar Power EPC 12
Slide 12: Dollar revenue & Global diversification
Dollar revenue & Global diversification • Dollar revenue mitigates country risk of Sri Lanka and currency risk of LKR • Global Energy Transfer Feed in Tariff Program(GET FiT) is a programme administered by KfW, the German development bank which facilitates the creation of a private market for renewa
Slide 13: Track record of strong consistent returns to shareholders
Track record of strong consistent returns to shareholders 25% 25 • Consistent total shareholder return and dividend yield over the past 3 20% 20 years • Continuous development of our pipeline and installed capacity • PAP has increased it’s pipeline 15% 15 169% over the 3 year period, compared to 66%
Slide 14: Track record of corporate growth
Track record of corporate growth Annual Assets End FY17/18 FY20/21 E1 Growth Total Assets (Rs. '000) 2,348,386 4,412,576 29% Installed capacity (gross 10 24 45% MW) Pipeline (gross MW) 8 153 22% Annual Market Value End FY17/18 Feb 212 Growth Market Cap (Rs. '000) 1,350,000 2,312,500 25% Share price
Slide 15: Track Record of Financial Stewardship
Track Record of Financial Stewardship 1. Prudent use of leverage and liquidity 2. Healthy corporate debt level relative to IPP industry, to support flexibility 3. Significant headroom when compared to peers who are increasing installed capacity and developing pipeline Leverage (D/(D+E)) 70% 60% 50%
Slide 16: Share performance (at 8/2/21)
Share performance (at 8/2/21) Continued Performance Past 12M total shareholder return as at 8/2/21 % Cents/% Price appreciation from 3.20 to 3.70 0.5 Expected long term revenue growth 20%+ Dividend (including dividend 0.22 Profitability 30%+ declared) Total Return 0.72 Dividend pay-out (of net profi
Slide 17: Expected Growth Outlook
Expected Growth Outlook • Forecast is driven through execution of current Growth outlook pipeline of projects 1,800,000 • Continue track record of on-time, on-budget 1,600,000 execution 1,400,000 • Continue to optimize operating portfolio – adding 1,200,000 expertise and technology 1,000,000 • Maint
Slide 18: Thank you
Thank you PANASIAN POWER PLC Level 4, BTL Shipping House, 45/2 Braybrooke St, Colombo 02 Contact: Gayan Gunawardana gayang@panasianpower.com