Altea Green Power S.p.a. · MIL:AGP
Altea Green Power — Euronext Growth Conference 2022
35 slides from Altea Green Power's conference presentation, May 24, 2022
Slide 1: Investor Presentation
Investor Presentation Euronext Growth Conference, 24 May 2022
Slide 2: Index
INDEX • AT A GLANCE • MARKET • BUSINESS • FINANCIALS FY21 • GROWTH STRATEGY • CONTACTS • APPENDIX Altea Green Power S.p.A. HEAD OFFICE: Via Chivasso, 15/A - 10098 Rivoli (TO) – Italy | REGISTERED OFFICE: Corso Re Umberto, 8 - 10121 Torino - Italy TURIN CHAMBER OF COMMERCE: 117565/2000 – ECONOMIC AND
Slide 3: Speakers
SPEAKERS Giovanni Di Pascale Salvatore Guarino C.E.O. General Manager e C.F.O. Altea Green Power S.p.A. HEAD OFFICE: Via Chivasso, 15/A - 10098 Rivoli (TO) – Italy | REGISTERED OFFICE: Corso Re Umberto, 8 - 10121 Torino - Italy TURIN CHAMBER OF COMMERCE: 117565/2000 – ECONOMIC AND ADMINISTRATIVE IND
Slide 4: At a Glance
AT A GLANCE
Slide 5: History, Business, Customers
HISTORY BUSINESS CUSTOMERS 10+ years on the renewables market Co-development services Partnerships with companies like Statkraft, EPC Iberdrola, Enlight Headquarter - Rivoli (TO) Energy efficiency 850 MW pipeline for the next 4 years, vs. 885 MW at the end of October 2021 Altea Green Power S.p.A. HE
Slide 6: Shareholder Structure and Corporate Governance
SHAREHOLDER STRUCTURE AND CORPORATE GOVERNANCE Board of Directors • Giovanni Di Pascale • Cecilia Martucci Giovanni di Pascale • Luca De Zen Cecilia Martucci CEO • Marco Di Miceli (independent) • Laura Guazzoni (independent) 67.57% 6.68% Board of Auditors Mercato • Fabrizio Morra President • Franco
Slide 7: Market
MARKET
Slide 8: Italian renewable energy market growth
VALUE CHAIN 35,0 30,0 The Italian renewable energy market (wind and solar) has been developing significantly in the last decade... 25,0 20,0 19,8 • The Italian renewable energy market has experienced a significant growth in recent periods, having developed from 2007-2010. GW 15,0 10,0 3,5 • In the c
Slide 9: The Italian Market: Solar and Wind Power
THE ITALIAN MARKET: SOLAR AND WIND POWER 60 51 GW 50 +152% SOLAR 40 19,8 GW Since 2009, 20 GW of solars have been installed. In the next 10 years these investments GW 30 +19 GW 20 are expected to more than double (+152%) reaching a total cumulative power of 51 GW. 10 With the development contracts c
Slide 10: Some Domestic Competitors: Quantitative Analysis
SOME DOMESTIC COMPETITORS: QUANTITATIVE ANALYSIS PREVAILING ACTIVITY DEVELOPMENT ENERGY Sector EPC ACTIVITY EFFICENTY 250,00 200,00 41,9% 37,6% 50,0% 40,0% Average 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
Slide 11: Business
BUSINESS
Slide 12: Service Lines
SERVICE LINES • Represents about 76% of the value of production • Scouting for suitable sites and obtaining administrative permits • 2 employees and 5 external partners CO- DEVELOPMENT • Represents about 2% of the value of production • Technical study and authorizations for the realization of the pl
Slide 13: Service Lines: Project Examples
SERVICE LINES Solar rooftop Turin Circello Wind Farm Energy Efficency • Rooftop solar system installed in Turin • Co-developed wind farm in Circello • Installed systems: more than 200 between • Power: 200 kWp (province of Benevento, Campania) solar, cogeneration, energy diagnosis and, • Completion D
Slide 14: Value Chain
VALUE CHAIN Network of external Flexible between internal Flexible between internal Centralized Centralized collaborators to identify sites and external staff an external staff Identification of Contract Development & Co-development Acquisition rights Permitting opportunities & feasibility study wit
Slide 15: Financials FY21
FINANCIALS FY21
Slide 16: Financials FY2021
FINANCIAL +8% VoP 6.2 M€ vs 5.7 M€ In FY2020 +129% EBITDA 2.1 M€ vs 0.9 M€ In FY2020 FINANCIALS +127% EBIT FY 2021 2.1 M€ vs 0.9 M€ In FY2020 NFP -1.2 M€ vs -0.2 M€ In FY2020 Altea Green Power S.p.A. HEAD OFFICE: Via Chivasso, 15/A - 10098 Rivoli (TO) – Italy | REGISTERED OFFICE: Corso Re Umberto, 8
Slide 17: Bridge EBITDA
BRIDGE EBITDA +8% VoP +129% EBITDA 6.2 M€ vs 5.7 M€ In FY2020 2.1 M€ vs 0.9 M€ In FY2020 Altea Green Power S.p.A. HEAD OFFICE: Via Chivasso, 15/A - 10098 Rivoli (TO) – Italy | REGISTERED OFFICE: Corso Re Umberto, 8 - 10121 Torino - Italy TURIN CHAMBER OF COMMERCE: 117565/2000 – ECONOMIC AND ADMINIST
Slide 18: Income Statement
INCOME STATEMENT 31.12.2021 % 31.12.2020 % Var. Var.% 31.12.2020 % Cons. pro- (Euro/000) Cons. (*) Cons. (*) (*) Forma Sales Revenues 2.551 41% 3,180 55% -629 -20% 971 27% INCOME STATEMENT Change in inventories of work in progress 3.033 49% -1,110 -19% 4,143 n.m. -1,110 -31% Changes in contract work
Slide 19: Balance Sheet
BALANCE SHEET 31.12.2021 31.12.2020 Var. % 31.12.2020 Cons. pro- (Euro/000) Cons. Cons. Forma Receivables due from shareholders for payments still due 50 50 BALANCE SHEET Intangible fixed assets 47 1 >1.000% 1 Tangible fixed assets 12 6 108% 6 Financial fixed assets 193 193 0% 216 Net fixed assets 2
Slide 20: Growth Strategy
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Slide 21: Growth Strategy: €5 Million IPO Collection
GROWTH STRATEGY COLLECTION OF € 5 BUILD A SPV TO FINANCE EXPAND THE VOLUME INCREASE THE VOLUMES MILLION IN THE IPO THE REALIZATION OF OF BUSINESS ABROAD, OF THE EPC AND PHASE ENERGY SYSTEMS (solar, ESPECIALLY IN NORTH EFFICIENCY LINES AND WIND, STORAGE AMERICA CONSOLIDATE THE SYSTEMS) CO-DEVELOPMENT
Slide 22: Altea Investment Highlights
ALTEA INVESTMENT HIGHLIGHTS Partnership for more than 850 MW Experience in identifying areas of Very high EBTIDA over the 2020-2024 period providing development and reliability in the (≈40%) high revenue coverage execution of work In-depth knowledge of regulations Distinctive skills in Project devel
Slide 23: Contacts
CONTACTS
Slide 24: Contact
CONTACT INVESTOR RELATIONS MANAGER Salvatore Guarino salvatore.guarino@alteagreenpower.com INVESTOR RELATIONS ADVISOR CDR Communication silvia.dirosa@cdr-communication.it antonino.meduri@cdr-communication.it Altea Green Power S.p.A. HEAD OFFICE: Via Chivasso, 15/A - 10098 Rivoli (TO) – Italy | REGIS
Slide 25: Appendix
APPENDIX
Slide 26: Research and Development
RESEARCH AND DEVELOPMENT • Most of the technologies used in renewable source plants are well established. • An exception is the experience that Altea is conducting in storage systems, in which it is implementing the first large-scale plant in Italy. • This project is one of those in which the compan
Slide 27: Value Drivers of Market Growth: Cost Reduction
VALUE DRIVERS OF MARKET GROWTH: COST REDUCTION $/MW 2010 2019 ∆ Offshore Wind 162 115 -29% Onshore Wind 86 53 -38% Fotovoltaico 378 68 -82% Carbone 111 109 -2% Nucleare 96 155 +38% Source: World Energy Outlook, Roser January 2020 Compared to 2010, the cost per MW has fallen sharply in relation to re
Slide 28: The Italian Solar Market: Plant Dimensions
ALTEA PLANT DIMENSIONS THE ITALIAN SOLAR MARKET €1.550/kWV 120% Small size 1% €1.200/kW 4% 100% 7% 16% 11% Medium size 80% 39% 34% €700/kW 37% 36% 33% 39% Big size 60% 30% 40% 59% 60% 57% 20% 51% 50% 36% Plant Dimensions 0% Reference Altea Small Medium Large 2014 2015 2016 2017 2018 2019 (<20kW) (20
Slide 29: The Italian Market at 2030: Solar and Wind Power
THE ITALIAN MARKET AT 2030: SOLAR AND WIND POWER The PNRR* allocates 23.78 billion euros to Solar Current Scenario Objectives PNEIC* 2030 Main Factors 1 Regulatory renewable energies and with Reform 1.1 provides for: Homogenization of authorization procedures throughout the country Simplification of
Slide 30: Energy Market Efficiency in Value
ENERGY MARKET EFFICIENCY IN VALUE • Historically, the energy efficiency market had promising growth rates thanks to new incentives introduced at the central level, such as the Decree 1 of 2019, that offers fixed tariffs for the sale of energy produced and not self-consumed (all-inclusive tariff). 3.
Slide 31: The Italian Regulatory Market
THE ITALIAN REGULATORY MARKET The energy efficiency sector has been the subject to important regulatory interventions that have fostered its development. Those of interest to Altea are listed below: In addition, there is a strong focus of the NRP to accelerate the energy transition. Namely: 59.5 bil
Slide 32: Brief History of the Company
BRIEF HISTORY OF THE COMPANY Efficiency EPC Co-development 2008 2012 2014 2017 2018 2020 Today The company starts offering With the aim of diversifying The business related to energy trading is turnkey EPC services for the Altea establishes Altea Power, a considered as non-strategic and therefore re
Slide 33: Key People and Track
KEY PEOPLE AND TRACK Giovanni Di Pascale Salvatore Guarino CEO General Manager e CFO • Graduated in Accounting • Thirty years of experience in the Administration, Finance and Control area in leading • From 2000 to 2009 he developed activities in the tourist-hotel sector multinational companies in th
Slide 34: Organisation Structure
ORGANISATION STRUCTURE CEO Giovanni di Pascale Quality & Safety Manager DG, CFO & Investor relations Information Technologies General Counsel & Privacy Manager Head of Business Head of Technical Head of Administration Procurement Executive Controller HR Manager Development Department 5 specialized e
Slide 35: Altea Green Power S.p.A.
Altea Green Power S.p.A. HEAD OFFICE: Via Chivasso, 15/A - 10098 Rivoli (TO) – Italy | REGISTERED OFFICE: Corso Re Umberto, 8 - 10121 Torino - Italy TURIN CHAMBER OF COMMERCE: 117565/2000 – ECONOMIC AND ADMINISTRATIVE INDEX NO: 93: 9243 | VAT NUMBER: 08013190015 SHARE CAPITAL: 808.050,00 € www.altea