Solaria Energia Y Medio Ambiente, S.a. · BME:SLR
Solaria Energia Y Medio Ambiente — H1 2022 Earnings Presentation
21 slides from Solaria Energia Y Medio Ambiente's earnings presentation, Sep 22, 2022
Slide 1: H1 2022 Earnings
H1 2022 Earnings September 22, 2022 SIRIUS PV POWER PLANT – SPAIN 50MW
Slide 2: Among Top 3 PV Players in EU
AMONG TOP 3 PV PLAYERS IN EU 2GW in operation and construction +12GW pipeline Germany 1000MW in operation 1034MW under construction Portugal 63.3MW Presence in five countries 395MW Spain 896.8MW Italy 1,034MW 16.7MW Greece 9458MW 2014MW 0.4MW MUCH MORE TO COME Uruguay 22.7MW 1000MW 1034MW Capacity i
Slide 3: Key Highlights
KEY HIGHLIGHTS 68.1 90.3% 43.7 85.7% 42.4 NET PROFIT 23.6 EBITDA EBITDA (€ million) (€ million) +61% margin 78.2% +85% H1 2021 H1 2022 H1 2020 H1 2021 H1 2022 H1 2021 H1 2022 Delivering sustainable and recurrent PROFITABILITY 13901 Capacity in operation PROJECT PORTFOLIO* (MW) (MW) 11754 1000 >10000
Slide 4: New €0.8bn Minority Stake Asset Rotation Program
NEW €0.8BN MINORITY STAKE ASSET ROTATION PROGRAM TARGET Flagship projects NET PROCEEDS Cifuentes-Trillo 626MW On-going process 2GW in next 3 years Expected close end H1 2023 ~ €0.8bn in next 3 years ~ 650MW/year Garoña-Burgos 595MW ~ 0.25bn/year Villaviciosa-Toledo 782MW 30% minority stake To mainta
Slide 5: H1 Earnings: Strong set of results
H1 Earnings Strong set of results
Slide 6: Delivering Sustainable and Recurrent Profitability
DELIVERING SUSTAINABLE AND RECURRENT PROFITABILITY Strong operational performance Production In line with commissioning of new H1 2022 H1 2021 % chg. installations, energy production increased from 430 GWh to 641.7 GWh. Production (GWh) 641.7 430.0 +49% Sales Sales (€mn) 68.1 43.0 +59% In line with
Slide 7: Delivering Sustainable and Recurrent Profitability
DELIVERING SUSTAINABLE AND RECURRENT PROFITABILITY Improved profitability: EBITDA margin above 90% Strict control of operating costs H1 2022 (€mn) H1 2021 (€mn) % chg. As a result of stringent control of costs and Total revenues 75.4 49.5 +52% the repeal of the 7% generation tax, operating costs fel
Slide 8: Strong operating cash flow generation
DELIVERING SUSTAINABLE AND RECURRENT PROFITABILITY Strong operating cash flow generation Cash performance (€mn) OPERATING CF INVESTING CF FINANCING CF 66.80 153.596 52.439 Huge investment €154mn Cash position €118mn
Slide 9: Healthy financing situation
DELIVERING SUSTAINABLE AND RECURRENT PROFITABILITY Healthy financing situation NFD to Ebitda decreasing 7.0 7% Corporate 93% 5.9 = Project Non-recourse debt 93% 4.7 Performance of NFD to Ebitda 2020 2021 H1 2022 Yearly amortization FY2020 FY2021 H1 2022 FINANCIAL DEBT 424.1 705.1 760.2 No major debt
Slide 10: Closing the financing of 278MW in merchant
DELIVERING SUSTAINABLE AND RECURRENT GROWTH Closing the financing of 278MW in merchant Project finance Up to €140 million ~ 2.50-2.70% + SWAP Project Country Location Capacity (MWp) AQUARII Spain Castile and León 100 278MW Spanish assets SCORPIUS Spain Castile and León 85 CENTAURUS Spain Castile and
Slide 11: 1GW in operation
AMONG TOP 3 SOLAR PV PLAYERS IN EU 1GW in operation Project Capacity (MWp) COD TORO I&II&III 130,0 2022 ARMUS 50,0 2022 EL BALDIO II 20,0 2022 ALGIEDI 25,0 2022 CASTOR 50,0 2021 CALERA 16,2 2021 AÑOVER 50,0 2021 SIRIUS 50,0 2021 URSA 50,0 2021 896.6 MWp SIGMA 30,0 2021 CAPRICORNIUS 25,0 2021 MENDO M
Slide 12: 1GW under construction
AMONG TOP 3 SOLAR PV PLAYERS IN EU 1GW under construction Project Country Location Capacity (MWp) Environmental permit CIFUENTES-TRILLO Spain Castilla-La Mancha 626 AQUARII Spain Castile and León 100 SCORPIUS Spain Castile and León 85 PEGASO Spain Castile and León 80 CENTAURUS Spain Castile and León
Slide 13: Slide 13
Slide 14: 814MW already secured in Italy
AMONG TOP 3 PV PLAYERS IN EU 814MW already secured in Italy North 56 MW 3 projects Center-South 262 MW +214MW vs. Q1 2022 13 projects 1200 1200 1150 Islands 400 600 814 496 MW 350 100 15 projects FY20 FY21 Q1 2022 Today With connection points Without connection points
Slide 15: New ESG targets
New ESG targets Carbon neutral -scope 1 and 2 by 2030
Slide 16: Appendix
Appendix
Slide 17: Income Statement
Income Statement H1-2022 €mn H1-22 H1-21 Relative change (%) Net sales 68.115 42.967 59 Other income and earnings 7.325 6.531 12 Total revenues 75.440 49.498 52 Personnel expenses (4.810) (3.238) 49 Operating expenses (2.500) (3.812) (34) EBITDA 68.130 42.448 61 Amortisation (11.314) (9.115) 24 EBIT
Slide 18: Balance Sheet: Assets
Balance Sheet H1-2022 Assets €mn H1-22 FY21 Relative change (%) Non-current assets 1.000.890 854.468 17 Intangible assets 115.046 112.221 3 Tangible fixed assets 816.714 671.303 22 Deferred tax assets 66.894 69.466 (4) Other non-currents financial assets 2.236 1.478 51 Current assets 171.074 188.284
Slide 19: Balance Sheet: Liabilities
Balance Sheet H1-2022 Liabilities €mn H1-22 FY21 Relative change (%) Equity 300.046 247.355 21 Capital and share premium 310.926 310.926 - Other reserves 5.311 5.311 - Non-controlling interest 1.440 - 100 Retained earnings 7.893 (35.841) 122 Value adjustments (25.524) (33.041) (23) Non-current liabi
Slide 20: Disclaimer
Disclaimer This document has been prepared by SOLARIA ENERGÍA Y MEDIO AMBIENTE, S.A. (“Solaria”) for information purposes only and it is not a regulated information or information that has been subject to prior registration or review by the Spanish Securities Market Commission. By attending a meetin
Slide 21: Thank you.
Thank you.
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