Audax Renovables Sa · BME:ADX
Audax Renovables Sa — Investor Presentation (June 2021)
25 slides from Audax Renovables Sa's investor presentation, June 2021
Slide 1: Investors presentation: Disclosure of new strategic plan
Investors presentation Disclosure of new strategic plan June 2021
Slide 2: Audax Renovables' conference speakers
The new strategic plan of Audax Renovables 2026 – Audax Renovables’ conference speakers Anabel López – Generation General Manager and BM Rafael Garcés – Investment Director 2
Slide 3: Audax Renovables in a nutshell
Audax Renovables in a nutshell Leading renewable utility vertically integrated from generation to supply ✔ ✔ Privileged access to the ✔ ✔ Poised to deliver Leading utility with most efficient source of Solid financial international footprint strong footprint energy foundations growth Revenue by regi
Slide 4: Audax Renovables growth story
1 Audax Renovables growth story
Slide 5: Audax Renovables today
Audax Renovables today A successful and disruptive integrated renewable player Phase I Phase II Organic growth Internationalisation and inorganic growth Bond issue Takeover bid Unieléctrica E.ON Hungary 1Q 2021 70.86% stake in acquisition on MARF integration Audax Energía Fersa Energías acquisition
Slide 6: Unique player in the renewable space
Unique player in the renewable space Audax differentiating factors… …driving outstanding growth… Revenues (€m) EBITDA (€m) New players in Large integrated +53% generation corporations +79% 967,4 633.1 66.4 37.1 ✔ Vertical integration Focus on 100% renewable 2017a 2020a 2017a 2020a ✔ energy …thanks t
Slide 7: Audax Renovables growth story: From 2014 to 2020
Audax Renovables growth story From 2014 to 2020 Having posted disruptive growth over last years Installed Capacity (MW) Energy Supplied (TWh) EBITDA (€m) 10.4 66 2.5 91 18 - 2014A 2020A 2014A 2020A 2014A 2020A Source: Company 7
Slide 8: Leading Spanish SME supplier with presence in other EU countries
Leading Spanish SME supplier with presence in other EU countries AUDAX international platform Domestic Domestic supplysupply business International supply business business (1) TOTAL Start activity 2009 2013 2014 2015 2016 2017 2020 Revenue 2020 €640m €327m €967.4m TWh sold 5.0TWh 5.4TWh 10.5TWh 202
Slide 9: Our Strategic Roadmap
f 2 } Our Strategic Roadmap
Slide 10: Audax Renovables investment highlights
Audax Renovables investment highlights 1 Unique business model 2 Fully integrated in the renewable space developer with a leading position in the SME market 4 A seasoned and 3 Well-structured visionary management development capabilities team at the forefront of with a sizable and tangible ESG Solar
Slide 11: Fully integrated developer with a leading position in the SME market
Fully integrated developer with a leading position in the SME market Vertical integration Own generation PPA capacity and PPA with 3rd parties Business model scalable to an international level Lines of Own Third party generation action PPAs PPA Existing pipeline c.2.5 GW ▪ Increase margins and compe
Slide 12: Sizeable and well-advanced pipeline
Sizeable and well-advanced pipeline Total renewable pipeline of c.2.5GW, of which c.2.3GWp are PV Audax strategy focused on developing own proprietary pipeline of renewable assets, with c.2.5GW of highly visible projects to be in operations before 2025, fundamentally Solar PV Optional: Rotation Asse
Slide 13: Owned and visible pipeline with a well-structured cost base
Owned and visible pipeline with a well-structured cost base Pipeline per COD (MW – Solar PVonly) Total energy generation capacity (MW) 4,143 781 3,842 Market 376 opportunities 2,498 1,120 3,092 106 115 1,801 1,500 750 Operation Under Backlog Grid Early stage Total construction Connection Controlled
Slide 14: Leading Spanish SME supplier with presence in other EU countries
Leading Spanish SME supplier with presence in other EU countries AUDAX focuses on SME Customers… …and indexed tariff segment ▪ Higher profitability of SMEs vs. other customers ▪ Price remains fixed over the contract’s Fixed duration ▪ Low churn ratio increasing stability tariff ▪ Pool price risk hed
Slide 15: A seasoned professional management team at the forefront of ESG
A seasoned profesional management team at the forefront of ESG Multidisciplinary team with deep industry know-how and ESG Proactive Approach shareholder structure To be a leader entails taking on certain responsibilities, complying with regulatory Top management average age requirements and preservi
Slide 16: Audax Renovables' commitments
3 Audax Renovables’ commitments
Slide 17: Audax Renovables growth story: From 2021 towards 2026
Audax Renovables growth story From 2021 towards to 2026 Having posted disruptive growth over last years Installed Capacity (MW) Energy Supplied (TWh) EBITDA (€m) 4,253 20.6 400 10.4 2.5 66 91 18 - 2014A 2020A 2026E 2014A 2020A 2026E 2014A 2020A 2026E Source: Company, 17
Slide 18: Audax Renovables' commitments
Audax Renovables’ commitments 6 Highly visible new pipeline 1 Maximum leveraged 3.5x on COD before 2025 2 New minority 5 Organic growth investors in PV plants (Optional) double digits No new capital 3 +250bp in gross 4 requirements envisaged margin new portfolio in the short-term 18
Slide 19: Annex: Attractive Market Dynamics
Annex Attractive Market Dynamics: Outstanding Renewable and Supply Market Conditions
Slide 20: Energy market trends support renewables' technologies
Energy market trends support renewables’ technologies, where Solar PV has become the cheapest source of energy available EU renewable energy generation targets Solar PV as the cheapest source of energy available Spanish energy mix in Evolution1 Global capex per MW for solar tracking PV2 ▪ Solar PV &
Slide 21: Independent supply companies are quickly capturing market share
Independent supply companies are quickly capturing market share from traditional players Spanish Market Share Distribution Spanish deregulated supply market overview Market share by supplied energy in the deregulated Spanish 2018 supplied energy breakdown by type of customer in the SMEs segment: Top
Slide 22: The global PPA market is experiencing unparalleled growth
The global PPA market is experiencing unparalleled growth, and Spain is gaining momentum PPAs taking over the PPA agreements trigger favourable financing Improved technology Cost role of regulatory structures + large corporations preference efficiency reduction subsidies for 100% renewable energy th
Slide 23: Glossary
Glossary AMER: America APAC: Asia Pacific BoP: Balance of Plant CAGR: Compound Annual Growth Rate CCGT: Combined Cycle Gas Turbines CNMC: Comisión Nacional de Mercados y Competencia COD: Commercial Operations Date EMEA: Europe, Middle East,Africa EPC: Engineering, Procurement and Construction LCOE:
Slide 24: Disclaimer
Disclaimer Any data, estimate, valuation and projection, as well as the rest of the content of this presentation does not purport to be comprehensive and serves informational purposes only. Neither Audax Renovables, S.A. nor any of its directors, managers or employees are implicitly or explicitly ob
Slide 25: www.audaxrenovables.com
La audax renovables www.audaxrenovables.com