Energy Spa · MIL:ENY
Energy Spa — German Spring Conference 2023
36 slides from Energy Spa's conference presentation, May 16, 2023
Slide 1: Energy S.p.A. German Spring Conference 2023
Energy S.p.A. German Spring Conference 2023 May 16, 2023 - Frankfurt
Slide 2: Disclaimer
Disclaimer “This presentation and the information contained herein (unless otherwise indicated), are provided by Energy S.p.A. (“Energy”) solely for informational purposes. By attending this presentation or otherwise viewing this presentation, or having access to the corresponding information, you a
Slide 3: Today's Speakers
Today’s Speakers Davide Tinazzi Daniele Manfroi Founder & CEO CFO PhD in Engineering, Master in Project MBA, Degree in Business and Innovation Management Management, post-graduate Master in Environmental Management Former Project Manager in the field of nanotechnology Former Auditor in Quality, and
Slide 4: Agenda
Agenda 1. Energy at a glance 2. FY 2022 Financial Highlights 3. Strategic achievements and objectives 4. Q&A ANNEX Energy S.p.A. || ENY 4
Slide 5: 1. Energy at a glance
=a www.energysynt.com
Slide 6: A leading Italian energy storage advanced system integrator
A leading Italian energy storage advanced system integrator Energy S.p.A. || ENY 6
Slide 7: Our Mission
Our Mission “We give every individual, family or business, the tangible opportunity to mitigate climate change and actively contribute to the green energy transition. Everyone can reduce the emissions of CO2 by maximizing the self production of electricity, also contributing to the grid stability”.
Slide 8: 10 years of growth and success
10 years of growth and success Established in 2013, Energy S.p.A. («Energy») is an advanced system integrator of Energy Storage Systems (ESS). In ten 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
Slide 9: A compelling Equity Story
Unique product offering Strategic market positioning Solid and committed suppliers’ relationship Attractive strategy A compelling Equity Story Outstanding financial results Energy S.p.A. || ENY 9
Slide 10: Product offering
Product offering SMALL&LARGE 1. ESS zeroCO2 SMALL zeroCO2 LARGE zeroCO2 SUN CHARGER 2. 10 Energy sources components from leading international suppliers, combining them with proprietary software and its products, sold under EXTRA LARGE ESS the company’s brand “zeroCO2” zeroCO2 EXTRA LARGE *ESS: Ener
Slide 11: Strategic positioning
Strategic positioning Energy has started the process of in-sourcing some strategic production activities of its components, in order to become a full system integrator, controlling a significant part of energy storage systems value chain, by insourcing the manufacturing of ESS’ hardware and software
Slide 12: Value Chain
Value Chain Engineering & Sales, Marketing Procurement R&D Manufacturing & After Sales Energy’s key role for § Energy’s R&D department § Since 2020, Energy § Sale to Distributors (generalist & suppliers: oversees the integration developed its own proprietary specialist), Manufacturers, EPC The abili
Slide 13: Global ESS Market
Global ESS Market Energy storage system market is growing at unprecedented pace and could fundamentally change electricity market dynamics. The United States and China are the two largest markets but also EMEA region plays a key role in this scenario of growth. 357.8 Energy Storage Power 301.1 Capac
Slide 14: 2. FY 2022 Financial Highlights
2. FY 2022 Financial Highlights
Slide 15: FY 2022 Highlights
Revenues EBITDA 126.5 M 32.2 M +145% vs 51.5 M +208 % vs 10.4 M FY 2022 FY 2021 FY 2021 Highlights Net Income 22.6 M In 2022 Energy recorded a +207 % vs 7.4 M robust acceleration of FY 2021 revenues (+145%) combine with a strong increase in profitability (+208%) with Backlog higher-than-expected Net
Slide 16: Strong top line growth
Strong top line growth Energy has shown an impressive historical growth since its inception in terms of revenues. Revenue Guidance 2022 (120M-140M) has been fully achieved registering a YoY growth of +145%. 145% REVENUES GROWTH 126.5 2019-2022 154% 51.5 62% 54% 20.3 12.5 Energy revenues are expectin
Slide 17: Strong acceleration of revenues
Strong acceleration of revenues Italy is confirmed to be the primary market covering 84.9% of revenues in 2022. Foreign sales grew substantially in the second half of 2022 as a results of the company’s international expansion strategy. Sales of Small & Large ESS confirmed to represent the majority o
Slide 18: Outstanding increase in profitability
Outstanding increase in profitability Since 2021 the marginality has improved as the Company started to sell its own brand (zeroCO2) products from the end of 2020. The 2022 EBITDA margin’s high-performance reflects the different price increases transfer on sales not totally balanced by increase of r
Slide 19: Net financial position
Net financial position Financial debt refers totally to bank debt for 18.6€m (short term) and medium-long-term debt for 5.6€m. The increased borrowing was mainly used to finance working capital. Cash available accounted for 16.0€m. The company partially used the IPO proceeds for finance growth oppor
Slide 20: Cash Bridge Analysis
Cash Bridge Analysis The cash and cash equivalents available at the end of 2022 accounted for 16.0€mln, including part of IPO proceeds which will be used to continue pursuing the strategic development objectives. 27.4* Values in €M 16.2 16.0 2.0 Operating 3.1 Cash Flow Capex Other Cash IPO End Δ Sho
Slide 21: Cash Flow Bridge
Cash Flow Bridge Values in €M EBIT 31.6 4.2 Taxes -8.4 27.4 D&A 0.6 ΔTrade NWC -54.1 -8.4 Δ in others 4.2 Operating cash flow -26.1 Capex -6.0 Cash available for debt service -32.2 Δ in debt 19.3 19.3 Financial income/(expenses) -0.6 Δ in Equity 27.4 Net Cash Flow 14.0 31.6 0.6 -54.1 14.0 -6.0 -0.6
Slide 22: 3. Strategic achievements and objectives
3. Strategic achievements and objectives
Slide 23: Strategies and objectives
Supply & Manufacturing Go –to-market zero C02 brand Strategies and objectives Energy S.p.A. || ENY 23
Slide 24: Supply & Manufacturing
Supply & Manufacturing Insourcing and industrialise production phases and pursue strategic M&A Small&Large ESS Transfer in the new § Pilot Plant Shell for batteries assembly from cells completed (to plant produce 600-800 batteries/day – up to 4 MWh/day by end 9.000 sqm 2023) New space Extra Large ES
Slide 25: Go-to-market
Go–to-market Further expansion of the distribution model to larger clients and internationalisation. Small&Large ESS § Retain the Italian market share while expanding export Consolidation of sales relationships Italian Market Extra Large ESS Extension of the XL § Burning Man in Nevada (US) – Sept 20
Slide 26: zeroCO2 brand
zero CO2 brand Increasing brand visibility § Small& Large; Stackable systems: product ready, commercial activity Pushing the started Rackable batteries 5KWh , suncharger zeroCO2 for electrical vehicles (mono and three- brand phases) awareness § ZeroCo2 XL ESS: start of series production in the new p
Slide 27: = Energy
= Energy Fm anergyer com
Slide 28: ANNEX
ANNEX
Slide 29: Product offering detailed
Product offering detailed Energy sources components from leading international suppliers, combining them with proprietary software and its products, sold under the company’s brand “zeroCO2”. SMALL&LARGE ESS EXTRA LARGE ESS zeroCO2 SMALL zeroCO2 LARGE zeroCO2 SUN CHARGER zeroCO2 EXTRA LARGE § Hybrid
Slide 30: Go-to-market
Go-to-market Energy’s sales network consists of both electrical goods distributors and photovoltaic specialists. Energy also works with large European EPCs. The proximity of Energy's logistics to the headquarters of the main distributors has led the company to have solid partnerships with major mark
Slide 31: Production facilities
Production facilities Energy’s new production and office facilities located near Padua (c. 9,000 sqm) allow to achieve the full-scale production of Extra Large ESS. In H2 2022, Energy acquired an additional production area of 11,000 m sqm close to the existing plant for a total of c. 20,000 sqm Neig
Slide 32: Shareholding and governance
Shareholding and governance 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. % on share Shareholding N. Shares N. PAS Tot. Shares § Board of Directors capital - A. Granuzzo:
Slide 33: P&L Statement
P&L Statement P&L (EUR M)* 2019A % 2020A % 2021A % 2022A % REVENUES 12.5 100,0% 20.3 100.0% 51.5 100.0% 126.5 100.0% CAPITALIZED EXPENSES 0.3 2.2% 0.4 1.9% 0.0 0.1% 0.4 0.3% OTHER REVENUES AND INCOME 0.3 1.2% 0.2 0.9% 0.2 0.4% 0.4 0.3% RAW MATERIALS (9.9) (79.3%) (16.2) (79.7%) (38.2) (74.2%) (87.1)
Slide 34: Balance Sheet
Balance Sheet Balance sheet (EUR M)* 2019A 2020A 2021A 2022A Intangible fixed asset 0.5 0.7 0.5 4.3 Tangible fixed asset 0.0 0.0 0.0 1.6 Financial asset 0.0 0.0 0.1 0.2 Net Fixed asset 0.5 0.7 0.6 6.1 Inventory 1.8 4.8 6.7 61.3 Trade receivables 0.7 2.8 9.7 23.1 Trade payables (0.5) (1.4) (1.7) (15.
Slide 35: Cash Flow
Cash Flow Cash flow (EUR m)* 2019A 2020A 2021A 2022A EBIT 1.1 1.8 10.1 31.6 Income taxes (0.2) (0.4) (2.6) (8.4) Depreciation and amortization 0.2 0.3 0.3 0.6 Change in trade NWC (0.2) (4.1) (7.1) (54.1) Change in other assets (liabilities). 0.1 0.7 0.3 4.2 Severance indemnity funds and others Opera
Slide 36: THANK YOU!
THANK YOU! Energy S.p.A. investor@energysynt.com +39 049 2701296 Energy S.p.A. || ENY 36