Ameresco, Inc. · NYSE:AMRC
Ameresco — Q1 2021 Earnings Presentation
13 slides from Ameresco's earnings presentation, May 4, 2021
Slide 1: Q1 2021 Supplemental Information
ameresco.com © 2020 Ameresco, Inc. All rights reserved. Q1 2021 Supplemental Information May 4, 2021
Slide 2: Safe Harbor Forward Looking Statements
2 Safe Harbor Forward Looking Statements Any statements in this presentation about future expectations, plans and prospects for Ameresco, Inc., including statements about market conditions, pipeline and backlog, as well as estimated future revenues and net income, and other statements containing the
Slide 3: Sources of Revenue – Q1 2021
Sources of Revenue – Q1 2021 3 Projects Energy efficiency and renewable energy projects Recurring Energy & incentive revenue from owned energy assets; plus recurring O&M from projects Other Services, software and integrated PV $180.7M $51.8M $19.7M
Slide 4: 69% of EBITDA Came From Recurring Lines of Business
69% of EBITDA Came From Recurring Lines of Business 4 Projects 72% Assets 13% O&M 7% Other 8% 20% Recurring $252M Revenue Projects 28% Assets 63% O&M 6% Other 3% $30M Adjusted EBITDA* 69% Recurring * Adjusted EBITDA percentages allocate corporate expenses according to revenue shareYear-to-Date 2021
Slide 5: Energy Asset Portfolio – 3/31/2021
Energy Asset Portfolio – 3/31/2021 5 287 MWe of Energy Assets. 102MW of non-RNG biogas, 27 MW of RNG, Solar is 152 MW, Other is 6 MW* 386 MWe in development & construction. Renewable Gas is 114 MWe, Solar is 251 MW, Energy as a Service is 20 MW* Operating Energy Assets 287 MWe Other: 2% Solar: 53% B
Slide 6: Energy Asset Balance Sheet – 3/31/2021
Energy Asset Balance Sheet – 3/31/2021 6 $288M of the $765M energy assets on our balance sheet are still in development or construction. $284M of the $340M* of total debt on our balance sheet is debt associated with our operating energy assets. All of the energy debt is non-recourse to Ameresco, Inc
Slide 7: Tremendous Forward Visibility: Backlog & Recurring Revenue Business
$0 $500,000,000 $1,000,000,000 $1,500,000,000 Awarded Project Backlog Contracted Project Backlog Operating Energy Assets O&M Backlog Tremendous Forward Visibility: Backlog & Recurring Revenue Business 7 ~ 12-24 months to contract ~ 12-36 months of revenue 14 year weighted average PPA remaining 16 ye
Slide 8: Sustainable & Profitable Business Model
Sustainable & Profitable Business Model 8 Revenue ($M) $651 $717 $787 $867 $1,032 $1,110 2016 2017 2018 2019 2020 2021 Guidance $1,160 High-End 12.2% CAGR Low-End 11.3% CAGR $56 $63 $91 $91 $118 $140 2016 2017 2018 2019 2020 2021 Guidance Adjusted EBITDA ($M) $150 High-End 21.7% CAGR Low-End 20.0% C
Slide 9: Enabling a Low Carbon Future
Enabling a Low Carbon Future Since 2010, Ameresco’s renewable energy assets & customer projects delivered a Carbon Offset equivalent to: Greenhouse gas emissions from… 31.4 billion miles driven by an average passenger vehicle Carbon sequestered by… 16.5 million acres of U.S. forests in one year or D
Slide 10: Thank You to Our Customers, Employees, and Shareholders
ameresco.com © 2020 Ameresco, Inc. All rights reserved. to Our Customers, Employees, and Shareholders Thank You
Slide 11: Non-GAAP Financial Measures
11 Non-GAAP Financial Measures We use the Non-GAAP financial measures defined and discussed below to provide investors and others with useful supplemental information to our financial results prepared in accordance with GAAP. These Non-GAAP financial measures should not be considered as an alternati
Slide 12: GAAP to Non-GAAP Reconciliation (Unaudited)
GAAP to Non-GAAP Reconciliation 12 (Unaudited) (Unaudited) Adjusted EBITDA: Net income attributable to common shareholders 11,174$ 6,201$ Impact from redeemable non-controlling interests 1,257 435 Plus (Less): Income tax provision (benefit) 2,205 (2,503) Plus: Other expenses, net 3,673 5,389 Plus: D
Slide 13: EBITDA by Line of Business YTD 2021
EBITDA by Line of Business YTD 2021 13 $000 USD Projects O&M Operating Assets Other Consolidated Adjusted EBITDA: Net income attributable to common shareholders 4,426$ 617$ 5,910$ 221$ 11,174$ Impact from redeemable non-controlling interests - - 1,257 - 1,257 Plus: Income tax provision 1,119 82 981