Alerion Clean Power S.p.a. · MIL:ARN
Alerion Clean Power — Debt Investor Presentation (October 2021)
20 slides from Alerion Clean Power's debt investor presentation, Oct 14, 2021
Slide 1: Green Bond 2021 - 2027
0 Green Bond 2021 - 2027 14th October 2021
Slide 2: Disclaimer
1 DISCLAIMER THIS PRESENTATION AND ANY OTHER INFORMATION PROVIDED (THE “PRESENTATION”) IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION. THIS PRESENTATION, WHICH HAS BEEN PREPARED BY ALERION CLEAN POWER S.P.A. (THE “COMPANY”), IS PRELIMINARY IN NATURE AND IS SUBJECT
Slide 3: Agenda for Today
2 AGENDA FOR TODAY 1 Introduction to Alerion Clean Power 2 Alerion Today: 750MW Italian Wind Player 3 Financial Overview and Review of Alerion Historical Performance 4 Main Terms and Conditions of the new Green Bond
Slide 4: Introduction to Alerion Clean Power
1 Introduction to Alerion Clean Power
Slide 5: Alerion at-a-glance
4 ALERION AT-A-GLANCE LEADING RENEWABLE ENERGY PLAYER, OWNER AND OPERATOR IN ITALY COMPANY OVERVIEW KEY FIGURES ◼ Established in 2003, Alerion Clean Power S.p.A. (“Alerion”) is one of the main independent players, owners and operators active on onshore wind in Italy and other European markets € 109.
Slide 6: More than 25 years of success in the renewable industry
5 MORE THAN 25 YEARS OF SUCCESS IN THE RENEWABLE INDUSTRY Alerion Clean Power Stock Price1 (€) 20,0 1994 2002-2008 2010-2011 14.86 15,0 10,0 5,0 Gostner brothers Fri-El Green Construction of the founded Ener.CO Power signs a joint first solid biomass S.r.l., specializing venture site in Sicily, in 0
Slide 7: Wind Farm Portfolio Overview
6 WIND FARM PORTFOLIO OVERVIEW HIGH-QUALITY ASSET PORTFOLIO LOCATED IN 7 ITALIAN REGIONS AND 2 OTHER EUROPEAN COUNTRIES ITALIAN AND OTHER EU WIND FARMS GEOGRAPHICAL OVERVIEW Number of Gross Net Capacity Avg prod. SPAIN Plant Location Operating Capacity ITALY (MW) L3Y (GWh) Comiolica SPVs (MW) Apulia
Slide 8: Solid reference shareholders, experienced industrial partner and management team
7 SOLID REFERENCE SHAREHOLDERS, EXPERIENCED INDUSTRIAL PARTNER AND MANAGEMENT TEAM FRI-EL SHAREHOLDING STRUCTURE FRI-EL KPIs ALERION’S MANAGEMENT TEAM Wind 951MW STEFANO JOSEF GOSTNER GEORG VAJA FRANCAVILLA Biogas 2MW Hydro 7MW President & CEO Executive Director CFO & Vice President Liquid Biomass 7
Slide 9: Alerion ESG Sustainability Framework
8 ALERION ESG SUSTAINABILITY FRAMEWORK COMMITMENT TO SOCIAL AND GOVERNANCE SUSTAINABLE TARGETS1 SOCIAL ◼ Strong support of local communities thanks to: ENVIRONMENT — Investment into projects related to social issues — Employment of local people and promotion of local ◼ Total emissions avoided every
Slide 10: Alerion Today: 750MW Italian Wind Player
2 Alerion Today: 750MW Italian Wind Player
Slide 11: Leading renewable player with a clear and focused strategy
10 LEADING RENEWABLE PLAYER WITH A CLEAR AND FOCUSED STRATEGY ITALIAN WIND GROSS INSTALLED CAPACITY (MW) 1.093 1.093 971 Capacity CAGR 2017–2020: +34% 854 772 771 703 475 393 362 345 294 307 292 292 282 282 272 272 238 1 2 2017 Latest Public Information ◼ Leading industrial player in Italy with disc
Slide 12: Strong growth outlook for renewables in Europe and Italy
11 STRONG GROWTH OUTLOOK FOR RENEWABLES IN EUROPE AND ITALY SUSTAINED BY REDUCING LEVELIZED COST OF ENERGY (LCOE) GROSS INSTALLED CAPACITY IN ITALY – GW EUROPEAN AND ITALIAN REGULATORY FRAMEWORK Wind power representing a ◼ In December 2018, the new revised Renewables energy 300 great opportunity for
Slide 13: Leading renewable player with a clear and focused strategy
12 LEADING RENEWABLE PLAYER WITH A CLEAR AND FOCUSED STRATEGY 2021-2023 BP PILLARS Growth: Target approximately 1.5 GW by 2023 Diversification: Access to selected attractive markets and technologies (solar) Returns Discipline: Selective approach to potential projects targeting 8% to 12% Project IRR
Slide 14: Financial Overview and Review of Alerion Historical Performance
3 Financial Overview and Review of Alerion Historical Performance
Slide 15: Historical Key Financials Highlights in Context
14 HISTORICAL KEY FINANCIALS HIGHLIGHTS IN CONTEXT (€M) TOTAL REVENUES EBITDA1 EBITDA 76.5% 76.9% 75.1% 74.2% 73.2% 82.7% Margin 109 71 81 59 55 72 40 59 54 55 45 42 2017A 2018A 2019A 2020A '1H20 '1H21 2017A 2018A 2019A 2020A '1H20 '1H21 NET RESULT FOR THE YEAR NET FINANCIAL POSITION 32 Leverage 4.1
Slide 16: Proven Track-Record of Growth
15 PROVEN TRACK-RECORD OF GROWTH ▪ Anzi (16) Wind Parks ▪ Grottole (54) ▪ Villacidro (31) ▪ Fri-El Campidano (70) Additions ▪ Nulvi-Tergu (30) ▪ Morcone-Pontelandolfo (52) ▪ Regalbuto (50) (Gross Installed ▪ S. Basilio (25) ▪ Albareto (20) ▪ Comiolica (36) Capacity - MW) ▪ Ururi (26) ▪ Ricigliano (3
Slide 17: Gross Financial Debt Composition as of 30th June 2021
16 GROSS FINANCIAL DEBT COMPOSITION AS OF 30TH JUNE 2021 Gross Financial Debt Breakdown Gross Financial Debt Maturity (€M) Bank Debt Other Financial 478 3% Debt 2% Leases 8% Gross Debt: €571M1 44 32 Project 17 Financing Bonds 61% 26% 2H-21 2022 2023 Beyond 2023 Source: Company Information Notes: 1 E
Slide 18: Main Terms and Conditions of the new Bond
Main Terms and 4 Conditions of the new Bond
Slide 19: Main Terms and Conditions of the New Bond 2021 – 2027
18 MAIN TERMS AND CONDITIONS OF THE NEW BOND 2021 – 2027 Ranking Senior Unsecured Indicative Offer size Min €150m – Max €200m Use of Proceeds Refinancing of the existing Alerion €150m Bond 2018-2024 3.750% / Financing of green projects Rating Unrated Issue date November 2021 Tenor / Maturity 6 years
Slide 20: Thank You
ALERIONCLEANPOWER a i 3 THANK YOU
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