Altea Green Power S.p.a. · MIL:AGP
Altea Green Power — H1 2024 Earnings Presentation
32 slides from Altea Green Power's earnings presentation, Sep 27, 2024
Slide 1: Results Presentation 1H 2024
Results Presentation 1H 2024 September 27th, 2024
Slide 2: Index
Index At a glance Updates 2024 Financials 1H2024 Market Backlog & Pipeline Business Plan 24-28 Update Appendix 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
At a glance SHAREHOLDERS HISTORY & STRUCTURE BUSINESS CUSTOMERS 10+ years on the Partnerships with companies 35.02% renewables market such as Iberdrola, Enlight, Aer Soléir, RP Global, RPC 54.98% Headquarter - Rivoli (To) Over 1 GW pipeline Co-Development services (photovoltaics and wind energy) EPC
Slide 5: 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 6: Updates 2024
Site Green Power UPDATES 2024
Slide 7: Updates 2024
Updates 2024 15 Approved new 2024-2028 Business Plan JANUARY 21 Co-development agreement for "BESS Storage" of 1.1 GW with a major North MARCH American investment fund. 20 During 2024 AGP has scheduled the permitting processes with application MAY through MASE for approximately 2 GW of projects. Sta
Slide 8: Updates 2024
Updates 2024 Dxor Investments S.r.l. has completed the sale of 750,000 ordinary shares of 13 JUNE Altea Green Power S.p.A, that represent 4.33% of the Company's share capital, through an Accelerated Bookbuilding, at a price per share of € 6.70. 1 Giovanni di Pascale has purchased 1,080,000 ordinary
Slide 9: Financials 1H 2024
Site Green Power FINANCIALS 1H 2024
Slide 10: Financial Highlights 1H 2024
Financial Hightlights 1H 2024 TOTAL REVENUES EBITDA EBITDA MARGIN* 14.5 M 8.1 M 56% +45% +57% vs 52% in 1H2023 vs 10.0 M in 1H2023 vs 5.2 M in 1H2023 NET PROFIT NFP 5.3M 1.3 M debt +53% vs 4.4M (debt) in FY2023 vs 3.5M in 1H2023 * EBITDA MARGIN ADJUSTED at 60%, adjusted for extra costs accounted for
Slide 11: Bridge EBITDA
Bridge EBITDA +57% EBITDA 56% EBITDA Margin € 8.1M vs € 5.2M in 1H2023 52% in 1H2023 alteagreenpower.com 11
Slide 12: Income Statement
Income Statement €/000 1H 2024 1H 2023 % Revenues 14,424 9,662 49% Other revenues 104 351 -70% Total Revenues 14,528 10,013 45% Purchases, services and other operating costs (4,718) (4,130) 14% Personnel Expenses (1,701) (717) 137% Operating costs (6,419) (4,847) 32% EBITDA 8,109 5,166 57% EBITDA ma
Slide 13: Balance Sheet
Balance Sheet €/000 30-giu-24 31-dic-23 Non-current assets Intangible assets 4 5 Tangible assets 969 1,016 Deferred tax assets 113 134 Other non-current assets 1,545 1,544 Total non-current assets 2,631 2,699 Current assets Current assets 40,669 32,400 Other current assets 2,512 2,613 Cash and cash
Slide 14: NFP
NFP €/000 1H2024 1H2023 Total Net Financial Debt stood at € 1.3 million A. Cash (4,173) (502) (cash negative) versus € 4.4 million (cash B. Cash equivalents and cash - - negative) at 31 December 2023. C. Other current financial assets - - D. Liquidity (A + B + C) (4,173) (502) It should be noted tha
Slide 15: Market
Site Green Power MARKET
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 1.6 GW Availability of suitable sites for 1.8 GW Connection (STMG) in the approval process for 1.8 GW Source:
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: 1.4 GW in the next 3 years The global battery energy storage market Present status: in U.S:A. is projected to grow from $10.8
Slide 19: Backlog & Pipeline
Site Green Power BACKLOG & PIPELINE
Slide 20: Actual Backlog
Actual Backlog VALUE (€/000) CUSTOMERS TYPE Gross Net Aer Solèir BESS 49,500 41,744 RPC BESS 68,000 + premium* 61,180 RP Global PV 11,745 11,118 Iberdrola W/PV 12,053 9,965 A2A PV 5,051 5,026 Enlight PV 4,256 3,108 Other minor W/PV/EPC 1,530 1,530 152,135 + Co-Development Backlog premium* 133,670 *
Slide 21: IPP Portfolio
IPP* Portfolio PROJECTS SIZE AUTHORIZATION PROCESS Puglia 1 PV 18 EIA+AU Puglia 2 PV 12 EIA+AU Puglia 3 PV 15 EIA+AU Puglia 4 PV 20 EIA+AU Basilicata 1 PV 18 EIA+AU Lombardia 1 15 EIA+AU Lombardia 2 15 EIA+AU Basilicata 2 Wind 52 EIAMase+Au Total 165 * Independent Power Producers alteagreenpower.com
Slide 22: Business Plan 2024-2028 Update
BUSINESS PLAN 2024-2028 UPDATE
Slide 23: Business Strategy
Business Strategy Consolidation of AGP's position as a player in Ongoing US development* in both the sector of the development of Storage the Storage and Mixed Solar sectors, BESS projects in Italy with a market share and through new joint ventures in of no less than 10%. which AGP holds a majority
Slide 24: Focus projects
1-2024 2028 delta Focus Italy MW 980 5,040 4,060 Over the years of the plan, projects Wind and Photovoltaic 440 1,130 690 an increase in projects to 4.1 GW is expected, mainly under in authorization process Storage Italy 440 510 710 3,820 3,310 in the Bess Storage development in authorization proces
Slide 25: 2024-2028 Financial Targets Update
2024-2028 Financial Targets Update This update was required in light of the Company's recent adoption of IFRS • The economic targets presented in the update of the 2024-2028 Business Plan are in some cases substantially in line, in others slightly conservative compared to previous ones. • On the fin
Slide 26: Investment Highlights
Investment Highlights OPERATING EXPERIENCE AND PARTNERSHIP PROFITABILITY RELIABILITY 1 2 3 Strategic partnership in US and in Very high EBTIDA margin: Experience in identifying areas of Italy ≈ over 50%. development and reliability in the execution of work. SKILLS IN-DEPTH KNOWLEDGE KNOW-HOW 4 5 6 D
Slide 27: Appendix
Site Green Power APPENDIX
Slide 28: Our timeline
Our timeline AGP presented Incorporation of the BP24-28 in Altea Power, Altea Green AGP has January. In March involved in energy Power ends the and gas trading created a it signed a energy trading Starting Altea Energia business AGP pipeline of 2.5 contract with the EPC develops from Co-development
Slide 29: 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 29
Slide 30: The Business areas
The Business areas CO- PV DEV. OWNED EPC STORAGE ITALY ITALY AND EE USA Storage Construction Engineering Development of Photovoltaic of Photovoltaic Procurement Storage projects Wind Systems Owned Construction in the USA in Italy and Energy Efficiency alteagreenpower.com 30
Slide 31: 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 E. Martoglio L. Rubino Head of Business Head of Business Dev. Head of Engineering Dev. Renewables Energy Efficiency alteagreenpower.com 31
Slide 32: Altea Green Power S.p.A.
Immagine che contiene simbolo, cerchio, giallo, Carattere Altea Green Power S.p.A. Descrizione generata automaticamente Sede operativa via Chivasso, 15/A - 10098 Rivoli (TO) - Italy Immagine che contiene simbolo Descrizione generata automaticamente Sede legale corso Re Umberto, 8 - 10121 Torino - It