Slide 1: Quarterly presentation Q2 2023
Quarterly presentation Q2 2023 ROLF BARMEN (CEO) HENNING NORDGULEN (CFO)
Slide 2: Highlights Q2 2023
Highlights Q2 2023 Net revenue adj. NOK 376m (-10% YoY) and EBIT adj. NOK 106m (-24% YoY). 2% volume growth YoY in Norway1 driven by growth in number of deliveries. 26% volume decrease in the Nordic segment due to fixed price exposure phase-out. EBIT adj. improvement of NOK 25m YoY in the Nordic seg
Slide 3: Market development
Market development Weekly elspot prices (NOK/kWh)1 Monthly supplier changes in Norway (‘000)2 4,0 120 3,5 100 3,0 80 2,5 2,0 60 1,5 40 1,0 20 0,5 0,0 - 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 1 2 3 4 5 6 7 8 9 10 11 12 2022 2023 2023 2022 2021 2020 Sources: 1) Weekly system prices in NOK
Slide 4: Deliveries and volume per segment
Deliveries and volume per segment Consumer segment Business segment Nordic segment Deliveries (thousands) 661 664 685 684 678 117 117 120 128 127 164 162 149 134 131 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 -2% avg. volume per delivery YoY -7% avg. vo
Slide 5: Financial review Q2 2023
Financial review Q2 2023 HENNING NORDGULEN (CFO)
Slide 6: Group net revenue adj. and EBIT adj.
Group net revenue adj. and EBIT adj. Group Net revenue adj. (NOKm) Group EBIT adj. (NOKm) (44) (72) (2) (2) 32 25 (14) (1) 139 419 376 106 344 Q2 22 Consumer Business NGI Nordic Q2 23 Q2 22 Consumer Business NGI Nordic Q2 23 • 10% decrease in net revenue adj. YoY driven by product mix changes in Con
Slide 7: Net revenue and EBIT adj. by segment
Net revenue and EBIT adj. by segment Consumer segment Business segment Net revenue adj. (NOKm) Net revenue adj. (NOKm) 300 300 Consumer: 200 200 • Net revenue reduction primarily driven by change in product mix 276 247 100 237 175 100 • Revenue decrease partly offset by 176 153 117 169 115 OPEX redu
Slide 8: Net revenue and EBIT adj. by segment
Net revenue and EBIT adj. by segment Nordic segment New Growth Initiatives segment Net revenue adj. (NOKm) Net revenue adj. (NOKm) 75 75 Nordic: • Positive development following the 50 50 phase-out of legacy fixed price contracts 59 25 51 50 25 28 28 32 31 27 18 26 New Growth Initiatives: 0 0 • Stab
Slide 9: Cost-efficiency programme on track
Cost-efficiency programme on track Group OPEX adj. (NOKm) 400 1 400 1 251 1 263 1 253 1 177 1 202 350 1 200 300 • Target NOK 100m reduction in Group OPEX run-rate at 1 000 year-end 2023 compared to year-end 2022 250 800 • Net FTE reduction of 10% completed. Severance expenses 200 of NOK 9m booked in
Slide 10: NWC and net cash position
NWC and net cash position Net working capital (NOKm) Net cash (NOKm) (1 335) (1 690) «Cash EBIT adj.» in the quarter: NOK 121m 900 (13) (38) 172 (163) 115 (68) 565 551 350 Net cash Change in EBITDA adj. CAPEX ex. Payments to Dividend Consideration Interest, non- Net cash Q2 2022 Q1 2023 Q2 2023 31.0
Slide 11: Outlook
Outlook ~ a | ROLF BARMEN (CEO) Elmera Group
Slide 12: Market update
Market update System price (EUR/MWh)1 Norges Bank’s policy rate (%)2 160 5,0 140 4,0 120 100 3,0 80 60 2,0 40 1,0 20 0 0,0 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Policy rate Policy rate MPR 2/23 System Price System price forecast Increased liquidity in financ
Slide 13: Key development initiatives
Key development initiatives - Focus on execution Increase penetration in the Business and Nordic segments Revenue growth Revise product strategy in the Consumer segment Improve cost efficiency Cost efficiency Pursue accretive acquisitions Strengthen contribution from the NGI segment New business Dev
Slide 14: Q&A
Q&A A leading player in the Nordic electricity market Elmera Group provides consumers, businesses and the wholesale market with electricity, billing & rating services and electricity related technology solutions. Quarterly presentation | Q2 2023 14
Slide 15: Appendix
Appendix > —= Elmera Group
Slide 16: Adjusted EBIT reconciliation
Adjusted EBIT reconciliation Quarterly presentation | Q2 2023 16
Slide 17: Profit and Loss account
Profit and Loss account Quarterly presentation | Q2 2023 17
Slide 18: Balance sheet
Balance sheet Quarterly presentation | Q2 2023 18
Slide 19: Balance sheet
Balance sheet Quarterly presentation | Q2 2023 19
Slide 20: Cash flow
Cash flow Quarterly presentation | Q2 2023 20
Slide 21: Cash flow
Cash flow Quarterly presentation | Q2 2023 21
Slide 22: Forward-looking statements
Forward-looking statements This presentation contains, or may be deemed to contain, statements that are not historical facts but forward-looking statements with respect to Elmera Group’s expectations and plans, strategy, management’s objectives, future performance, costs, revenue, earnings and other
Slide 23: Rolf Barmen (CEO), Henning Nordgulen (CFO)
• Rolf Barmen (CEO) • Henning Nordgulen (CFO)