Energy Spa · MIL:ENY
Energy Spa — H1 2022 Earnings Presentation
18 slides from Energy Spa's earnings presentation, Sep 27, 2022
Slide 1: Energy S.p.A: a leading Italian energy storage systems integrator
Energy S.p.A A leading Italian energy storage systems integrator
Slide 2: Today's speakers
TODAY’S SPEAKER S Davide Tinazzi Daniele Manfroi Co-Founder and CEO CFO PhD in Engineering, Master in Project and MBA, Degree in Business Management, Innovation Management post-graduate Master Former Project Manager in Environmental Management in the field of nanotechnology Former Auditor in
Slide 3: Introduction to Energy
I NTRODUCTI ON TO ENER G Y Established in 2013, Energy S.p.A. («Energy») is an advanced system integrator of Energy Storage Systems (ESS), both for residential use (Small&Large: <50kW ESS) and for larger scale applications (Extra Large: >50kW+ ESS). The company sources components from leading intern
Slide 4: Our history
OUR HI STORY In the eight years since inception, Energy has grown under the leadership of Mr. Tinazzi to become the reference player in the Italian market for ESS solutions, in partnership with primary global manufacturers of components, supplying integrated systems to both residential and larger cl
Slide 5: Global energy storage market
GLOBAL ENER G Y STOR AG E MARKET The global storage market is growing at unprecedented pace, it is expected to grow at a CAGR2021-2030 of c. 33%. It will reach a cumulative 358GW/1,028GWh by 2030, more than twenty-fold the 17GW/34GWh capacity online at the end of 2020, attracting $262 billion in inv
Slide 6: Current market environment
CURRENT MAR KET ENVI R ONMENT Today, the demand for energy storage systems is a function of: 1 2 3 Macrotrend focused on Cost of energy from the grid Need for a better efficiency reducing CO2 emissions and return of the in energy supply and dependency on fossil investment energy sources 110% incenti
Slide 7: Positioning
POSI TI ONI NG Energy aims to become a full system integrator in the coming months (from advanced system integrator) by insourcing the manufacturing of ESS’ hardware and software, by acquiring specialized EPCs and a cloud-computing firm. Energy’s technology path in coming months Advanced System Full
Slide 8: Strategic guidelines
STRATEGI C GUI DEL I NES Small&Large ESS Extra Large ESS 1 • Transfer in the new New larger production plant (ongoing) Supply/ Insourcing of small plant +9.000 sqm - Rack batteries assembly batteries assembly • Acquisition of + 17.000 - Acquisition of a cloud-computing firm Manufacturing sqm in
Slide 9: Energy is delivering exceptional growth
ENERGY I S DEL I VER I NG EXCEPTI ONAL GROWTH High revenues growth Fast ramp-up in profitability Solid financial position Revenues (EUR m) EBITDA (EUR m) Net Debt (EUR m) 10.0% 10.3% 20.2% 19.5% 27.7% 1.0x 1.7x 0.3x 0.7x 54.1% 62.5% 153.8% 16 60 204% 16 14 14 50 12 12 40 10 10 8 30 8 6 6 20 4 4 10 2
Slide 10: Strong growth track record
STRONG GROW TH TR ACK R ECORD… Energy has shown an impressive historical growth since its inception both in terms of revenues and profitability; such trend is expected to continue with 2022E revenues growth in the range between 130% - 170% (YoY growth vs. 2021A). 4.8% 7.6% 6.9% 7.9% 7.2% 10.0% 10.3%
Slide 11: Guidance on 2022E-2024E financial results
G UI DANCE ON 2 0 2 2 E-2024E FI NANC I AL R ES U L TS 2021 1H 2022 GUIDANCE – 2022E KEY HIGHLIGHTS High revenue growth across the business plan period (c. 30% expected CAGR 2022E - 2024E): − consolidating the position in the Small&Large ESS segment (shift towards REVENUES EUR 52m EUR 53m EUR 120
Slide 12: Energy: a compelling equity story
ENER G Y: A COMPELLI NG EQUI TY STOR Y UNIQUE PRODUCT OFFERING STRATEGIC MARKET POSITIONING SOLID AND COMMITTED SUPPLIERS’ RELATIONSHIP ATTRACTIVE STRATEGY STRONG FINANCIAL AND GROWTH PERFORMANCE BEATING MARKET RATES 12 Strictly confidential
Slide 13: Thanks
rnin Save Youve PLANET www.energysynt.co m THANKS
Slide 14: Appendix
APPENDI X Strictly confidential
Slide 15: Shareholding and governance
SHAR EHOLDI NG AND G OVER NANCE Energy was founded in 2013 by Davide Tinazzi and Andrea Taffurelli, with the financial support of the Ghirlanda family (through their company Euroguarco) and Mrs. Hongwu Sun. All are still shareholders in the Company EUROGUARCO ANDREA DAVIDE HONGWU S.P.A. * TAFFURELLI
Slide 16: P&L statement
P&L STATEMENT P&L (EUR M)* 2019A % 2020A % 2021A % 1st H2021A % 1st H 2022A % REVENUES 12.5 100,0% 20.3 100,0% 51.5 100,0% 17.5 100,0% 53.3 100,0% CAPITALIZED EXPENSES 0.3 2.2% 0.4 1.9% 0.0 0.1% - 0.0% - 0.0% RAW MATERIALS (9.9) (79.3%) (16.2) (79.7%) (38.2) (74.2%) (12.9) (73.7%) (36.1) (67.7%) SER
Slide 17: Balance sheet statement
BALANCE SHEET STATEMENT Balance sheet (EUR M)* 2019A 2020A 2021A 1st H 2022A Intangible fixed asset 0.5 0.7 0.5 3.3 Tangible fixed asset 0.0 0.0 0.0 0.2 Financial asset 0.0 0.0 0.1 0.2 Net Fixed asset 0.5 0.7 0.6 3.8 Inventory 1.8 4.8 5.3 8.0 Trade receivables 0.7 2.8 9.7 24.9 Trade payables (0.5) (
Slide 18: Cash flow
CASH FLOW Cash flow (EUR m)* 2019A 2020A 2021A 1st H 2022A EBIT 1.1 1.8 10.1 14.6 Income taxes (0.2) (0.4) (2.6) (3.8) Depreciation and amortization 0.2 0.3 0.3 0.1 Change in trade NWC (0.2) (4.1) (7.1) (17.4) Change in other assets (liabilities). severance indemnity funds and 0.1 0.7 0.3 0.1 others