Altea Green Power S.p.a. · MIL:AGP
Altea Green Power — H1 2023 Earnings Presentation
38 slides from Altea Green Power's earnings presentation, Oct 3, 2023
Slide 1: Results Presentation 1H 2023
Results Presentation 1H 2023 October 3, 2023
Slide 2: Index
Index At a glance Business Market Updates 2023 Financials 1H 2023 Business Plan 2023-2025 Growth strategy Appendix Contacts alteagreenpower.com 2
Slide 3: Speakers
Speakers Giovanni Di Pascale Salvatore Guarino Giancarlo Signorini CEO General Manager CFO alteagreenpower.com 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 like Statkraft, Iberdrola, Enlight, EPC Headquarter - Rivoli (To) Aer Soléir. Energy efficiency Over 1GW pipeline (photovoltaics and wind energy) and 3,5 MW (storage) alteagreenpower.com
Slide 6: Our timeline
Our timeline 2022 Altea Green Power 2020 listed on Euronext 2017- Growth Milan Stock Altea Green Power ends the 2018- Exchange. energy trading business. Incorporation of Altea Power, Starts the energy involved in energy and gas efficiency business. trading. Co-development 2016 agreements are the mai
Slide 7: Shareholders and Corporate governance
Shareholders and Corporate governance Board of Directors Dxor Investments Giovanni Di Pascale Cecilia Martucci Cecilia Martucci S.r.l. (*) Luca De Zen 65.73% 6.50% Marco Di Miceli (independent) Laura Guazzoni (independent) Board of Auditors Mercato 27.77% Fabrizio Morra President Franco Cattaneo Aud
Slide 8: Expertise
Expertise Photovoltaic, wind, storage, energy efficiency STAFF 30 (50% women) Altea Group provides initiatives, goods and services GRADUATES through an extensive welfare plan to 75% promote well-being for its constantly growing staff. AVERAGE AGE <40 years alteagreenpower.com 8
Slide 9: Business
Site Green Power BUSINESS
Slide 10: Service lines
Service lines CO- • Cover about 93% of the value of production. DEVELOPMENT • Scouting for suitable sites and manage all permitting’s process. • Cover about 2% of the value of production. EPC • Work in energy efficency in private and industrial field • Cover about 5% of the value of production. ENER
Slide 11: Service lines
Service lines EPC CO-DEVELOPMENT ENERGY EFFICENCY Solar roof top Circello Wind Turin Farm Rooftop solar system Co-developed wind farm Installed systems: more installed in Turin - Italy in Circello (province of than 200 between solar, Benevento, Campania - cogeneration, energy Power: 200 kWp Italy) d
Slide 12: How we operate
How we operate Altea Green Power: a solid partner for your investment Land Preliminary Connection Engineering & Authorization scouting agreement requests submitting procedure We carry out We proceed We take care We carry out We take care a preliminary with negotiation of the energy preliminary of th
Slide 13: Value chain
Value chain Network of external Flexible between internal Flexible between internal Centralized Centralized collaborators to identify sites and external staff and external staff Development & Co-development Identification of Contract Acquisition rights Permitting opportunities & feasibility study wi
Slide 14: Market
Site Green Power MARKET
Slide 15: The Italian Market: Solar and Wind Power
The Italian Market: Solar and Wind Power The Italian renewable energy market (wind and solar) has been developing significantly in the last decade... +21.1 • The Italian renewable energy market has experienced a significant growth in Cecilia Martucci GW recent periods, having developed from 2007-201
Slide 16: The Italian Market: Solar and Wind Power
The Italian Market: Solar and Wind Power 51GW +152% SOLAR • Since 2009, 20 GW of solars have been installed. In the next 10 years these 19,8GW investments are expected to more than double (+152%), reaching a total +19 GW cumulative power of 51 GW. • With the development contracts currently in place
Slide 17: BESS Storage Market in Italy
BESS Storage Market in Italy Our strategy: BESS STORAGE MARKET TREND IN ITALY Growth in the «new» Bess Storage market with a short term target of 2/3 GWh. Present status: Signed contracts for 0,5 GW. Availability of suitable sites for 1,5 GW. Connection (STMG) in the approval process for 1,5 GW. Sou
Slide 18: BESS Storage Market in U.S.A.
BESS Storage Market in U.S.A. Our strategy: Joint Ventures with a local partner with an Market Scenario important track record in developing green energy projects. Our target: 2,4 GW in the next 3 years. The global battery energy storage market Present status: in U.S:A. is projected to grow from $10
Slide 19: Updates 2023
Site Green Power UPDATES 2023
Slide 20: Updates 2023 - USA
Updates 2023 - USA Start of the process of examining the connection of the Lund Storage Center project under BESS Power Corp., in collaboration with Texas independent system operator ERCOT and U.S. utility operator LCRA. Lund Storage was confirmed to develop a maximum capacity of 780 MW,. The grid o
Slide 21: Updates 2023 - Italy
Updates 2023 - ITALY Signed a second co-development agreement with Aer Soléir, an Irish Group who are among the main players in the energy sector in Signed 2 news Co-Development Europe, funded by Quantum Energy contracts with Iberdrola for a total Partners, a world leader in the of 20 solar MW. One
Slide 22: Financials 1H 2023
Site Green Power FINANCIALS 1H 2023
Slide 23: Financial Highlights 1H 2023
Financial Hightlights 1H 2023 VALUE OF PRODUCTION EBITDA EBITDA MARGIN +34% +191% 51.4% 10.1M 5.2M vs 23.7% in 1H2022 vs 7.5M in 1H2022 vs 1.8M in 1H2022 EBIT NET PROFIT NFP +200% +197% 1.4M debt 5.1M 3.5M vs 0.8M (cash positive) in FY2022 vs 1.7M in 1H2022 vs 1.2M in 1H2022 alteagreenpower.com 23
Slide 24: Bridge EBITDA
Bridge EBITDA +191% EBITDA 51.4% EBITDA Margin € 5.2M vs € 1.8M in 1H2022 23.7% in 1H2022 alteagreenpower.com 24
Slide 25: Income statement
Income statement 1H 2023 1H 2022 % Value of production 10.051 7.501 34% Cost of goods sold 270 295 -8% Cost of services 3.148 3.915 -20% Personnel Expenses 718 617 16% Other cost & non-lease components 749 897 -16% EBITDA 5.166 1.777 191% EBITDA margin 51,4% 23,7% Depreciation and amortization 84 81
Slide 26: Balance sheet
Balance sheet 30-giu-23 31-dic-22 Fixed Assets 1.600 794 Inventories 22.590 15.068 Trade Receivables 1.468 4.001 Trade Payables (2.067) (1.595) Other current assets 1.896 1.198 Other current liabilities (8.908) (8.502) Net Working Capital 14.979 10.170 Accrued expenses and deferred income (66) (53)
Slide 27: Business Plan 2023-2025
Site Green Power BUSINESS PLAN 2023-2025
Slide 28: Where we are
Where we are Altea Green Power assets The USA ITALY 2.4 GW 5.0 GW pipeline pipeline alteagreenpower.com 28
Slide 29: 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 30: Business Plan 2023-2025
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 - 36M € 14 - 16M • Geographic diversification with expansion of partnerships with a focus on the U
Slide 31: Growth Strategy
Site Green Power GROWTH STRATEGY
Slide 32: Growth Strategy
Growth Strategy Increase the Build a SPV to pipeline in Co-dev finance the Expand the volume for BESS Storage realization of of business abroad, in Italy than in USA. energy systems especially in North Consolidate EPC (solar, wind, and America and Efficiency lines storage systems) alteagreenpower.co
Slide 33: Investment Highlights
Investment Highlights OPERATING EXPERIENCE AND PARTNERSHIP PROFITABILITY RELIABILITY 1 2 3 Partnership in USA for more than Very high EBTIDA: Experience in identifying areas of 2,4GW Storage Bess and 5 GW ≈ 40%. development and reliability in the in Italy (storage, solar and wind) execution of work.
Slide 34: Appendix
Site Green Power APPENDIX
Slide 35: Pipeline
Pipeline CUSTOMERS TYPE VALUE (€/000) Aer Solèir BESS 49.500 RP Global PV 11.745 Iberdrola W/PV 9.653 A2A PV 5.051 Enlight PV 4.256 Other minor W/PV 3.930 Co-Development Pipeline 84.125 alteagreenpower.com 35
Slide 36: Stock performance
Stock performance AGP & INDEX alteagreenpower.com 36
Slide 37: Management team
Management team G. Di Pascale S. Guarino G. Signorini P. Galassi CEO General Manager CFO Head of Legal and Corporate Affairs R. Malandrino V. Rolli C. Ciambrone E. Martoglio L. Rubino Head of Business Project Manager PV BDR Scouting PM Business Dev. Head of Business Dev. Head of Engineering Dev. Ren
Slide 38: 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.com | info@alteagreenpower.com Investor Relations Advisor CDR Communication