Altea Green Power S.p.a. · MIL:AGP
Altea Green Power — FY2022 Earnings Presentation
33 slides from Altea Green Power's earnings presentation, Apr 5, 2023
Slide 1: FY2022 Results Presentation
FY2022 Results Presentation Investor Access Event Paris – 5 April, 2023
Slide 2: Index
Index At a glance Business Market Updates 2022-2023 Financials FY2022 Business Plan 2023-2025 Growth strategy Appendix Contacts alteagreenpower.it 2
Slide 3: Speakers
Speakers G. Di Pascale S. Guarino CEO General Manager alteagreenpower.it 3
Slide 4: At a Glance
Site Green Power AT A GLANCE
Slide 5: History, Business, Customers
HISTORY BUSINESS CUSTOMERS 10+ years on the Co-development services Partnerships with companies renewables market EPC like Statkraft, Iberdrola, Headquarter - Rivoli (TO) Energy efficiency Enlight, Aer Soléir Over 1GW pipeline (photovoltaics and wind energy) and 510MW (storage) alteagreenpower.it 5
Slide 6: Shareholders and corporate governance
Shareholders and corporate governance Board of Directors • Giovanni Di Pascale Dxor S.r.l. (*) Cecilia Martucci • Cecilia Martucci • Luca De Zen • Marco Di Miceli (independent) 65.73% 6.50% • Laura Guazzoni (independent) Board of Auditors Mercato • Fabrizio Morra President 27.77% • Franco Cattaneo A
Slide 7: Business
Site Green Power BUSINESS
Slide 8: Service lines
Service lines • Represents about 90% of the value of production. CO- • Scouting for suitable sites and obtaining administrative permits. DEVELOPMENT • 6 internal FTE. • Represents about 2% of the value of production. EPC • Technical study and authorizations for the realization of the plant. • 4 inte
Slide 9: Service lines
Service lines Solar roof top Circello Wind Energy Efficency Turin Farm Installed systems: more Rooftop solar system Co-developed wind farm than 200 between solar, installed in Turin - Italy in Circello (province of cogeneration, energy Benevento, Campania - diagnosis and, more Power: 200 kWp recentl
Slide 10: Value chain
Value chain Network of external Flexible between internal Flexible between internal collaborators to identify sites Centralized Centralized and external staff and external staff Development & Co-development Identification of Contract Acquisition rights Permitting opportunities & feasibility study wi
Slide 11: Market
Site Green Power MARKET
Slide 12: Italian renewable market growth
Value chain 35,0 The Italian renewable energy market (wind and solar) has been developing significantly in the last 30,0 decade... 25,0 GW 19,8 • The Italian renewable energy market has experienced a significant growth in recent periods, having 20,0 developed from 2007-2010. 15,0 Cecilia Martucci 10
Slide 13: The Italian Market: Solar and Wind Power
The Italian Market: Solar and Wind Power 60 51 GW SOLAR 50 +152% 40 Since 2009, 20 GW of solars have been installed. In the next 10 years these investments 19,8 GW are expected to more than double (+152%), reaching a total cumulative power of 51 GW. GW 30 +19 GW 20 With the development contracts cur
Slide 14: Some domestic competitors
Some domestic competitors PREVAILING ACTIVITY DEVELOPMENT ACTIVITY EPC ENERGY EFFICENTY Sector 250,00 41,9% 37,6% 50,0% Average 200,00 40,0% 20,3% Milioni euro 150,00 30,0% 23,1% 100,00 15,6% 20,0% 10,0% 9,3% 50,00 5,8% 10,0% (*) Economic-financial data obtained from official company presentations 9
Slide 15: Updates 2022-2023
Site Green Power UPDATES 2022-2023
Slide 16: Updates 2022
Updates 2022 Signed an important co-development agreement for Storage electricity storage Launched, with Redelfi, a Joint Venture for systems functional to the needs of the the development of stand-alone battery national electricity grid between Altea Signed a co-development agreement with energy st
Slide 17: Updates 2023
Updates 2023 BESS Power Corp., a subsidiary of Altea and Redelfi, has finalized the purchase of a Signed a second co-development stand-alone battery energy storage system agreement with Aer Soléir, an Irish Group project through the acquisition of 100% of the who are among the main players in the sh
Slide 18: Financials FY2022
Site Green Power FINANCIALS FY2022
Slide 19: Financial Highlights FY 2022
Financial Hightlights FY 2022 VALUE OF PRODUCTION EBITDA EBITDA MARGIN +169% +187% 37% 16.7M 6.2M vs 35% in FY2021 vs 6.2M in FY2021 vs 2.1M in FY2021 EBIT NET PROFIT NPF +181% +247% 0,9M cash positive 6.0M 4.1M vs 1.0M (debt) in FY2021 vs 2.1M in FY2021 vs 1.2M in FY2021 alteagreenpower.it 19
Slide 20: Bridge EBITDA
Bridge EBITDA +187% EBITDA 37% EBITDA Margin € 6.2M vs € 2.1M in FY2021 35% in FY2021 €/000 alteagreenpower.it 20
Slide 21: Income statement
Income statement FY 2022 FY 2021 % Value of production 16,725 6,217 169% Cost of goods sold 451 144 213% Cost of services 7,396 2,760 168% Personnel Expenses 1,175 514 129% Other cost & non-lease components 1,543 653 136% EBITDA 6,160 2,146 187% EBITDA margin 37% 35% 6% Depreciation and amortization
Slide 22: Balance sheet
Balance sheet 31-dic-22 31-dic-21 Fixed Assets 725 59 Inventories 15,068 6,903 Trade Receivables 4,419 490 Trade Payables (1,605) (1,826) Other current assets 1,208 2,305 Other current liabilities (8,920) (4,890) Net Working Capital 10,171 2,983 Accrued expenses and deferred income (53) (57) Net Inv
Slide 23: Business Plan 2023-2025
Site Green Power BUSINESS PLAN 2023-2025
Slide 24: Business Plan 2023-2025
Business Plan 2023-2025 The Business Plan drawn up This plan envisages the effects The consolidation of activities in to take into account the of a significant acceleration the American market will continue important co-development of Altea's organic growth, over the three-year period. projects alre
Slide 25: Business Plan 2023-2025 targets
Business Plan 2023-2025 INDUSTRIAL STRATEGY TARGET 2025 • Organic growth with development and Value of Production EBITDA ADJ. consolidation of the current positioning with acceleration on storage. € 34 – 36 M € 14 – 16 M • Geographic diversification with expansion of partnerships with a focus on the
Slide 26: Growth Strategy
Site Green Power GROWTH STRATEGY
Slide 27: Growth Strategy
Growth Strategy 1 2 3 4 INCREASE THE BUILD A SPV TO EXPAND THE VOLUMES OF FINANCE THE VOLUME OF THE EPC AND COLLECTION OF € 5 REALIZATION OF BUSINESS EFFICIENCY MILLION IN THE IPO ENERGY ABROAD, LINES AND PHASE SYSTEMS ESPECIALLY IN CONSOLIDATE (SOLAR, WIND, NORTH AMERICA THE CO- STORAGE DEVELOPMENT
Slide 28: Investment Highlights
Investment Highlights Partnership for more than Experience in 1GW (photovoltaics and identifying areas of Very high EBTIDA wind energy) and 510MW (≈40%) development and (storage) over the 2020-2024 reliability in the period providing high execution of work revenue coverage In-depth knowledge Project
Slide 29: Appendix
Site Green Power APPENDIX
Slide 30: Stock performance
Stock performance AGP & INDEX alteagreenpower.it 30
Slide 31: Brief history of the company
Brief history of the company Efficiency EPC Co-development 2008 2012 2014 2017 2018 2020 Today With the aim of diversifying The business related to energy trading is The company starts offering Altea establishes Altea Power, a considered as non-strategic and therefore turnkey EPC services for the co
Slide 32: Management team
Management team G. Di Pascale S. Guarino P. Galassi L. Rubino R. Malandrino E. Martoglio CEO General Manager General Counsel Head of Engineering Head of Business Head of Business Dev. Dev. Renewables Energy Efficiency alteagreenpower.it 32
Slide 33: Altea Green Power S.p.A.
Altea Green Power S.p.A. Sede operativa via Chivasso, 15/A - 10098 Rivoli (TO) - Italy Sede legale corso Re Umberto, 8 - 10121 Torino - Italy REA 939243 | P.IVA: 08013190015 CAPITALE SOCIALE: 830.662,55 € www.alteagreenpower.it | info@alteagreenpower.com Investor Relations Advisor CDR Communication