Terna Energy Societe Anonyme Commercial Technical Company
Terna Energy Societe Anonyme Commercial Technical — Terna Energy — H1 2021 Earnings Presentation
15 slides from Terna Energy Societe Anonyme Commercial Technical's earnings presentation, Sep 30, 2021
Slide 1: H1 2021 Results Presentation
Presentation H1 2021 Results 30.09.2021
Slide 2: H1 2021 update
H1 2021 update Overview • Group revenues in 1H21 increased by 19.6% y-o-y to 139.6m. Revenues of RES Energy sales were up by 6.6% in 1H21, driven by gradual commissioning of new capacity in Greece (Taratsa project) • EBITDA at EUR 68.3m up by 0.8% y-o-y and net income at EUR 29.1m up by 2.5% y-o
Slide 3: Key Performance Indicators
Key Performance Indicators Revenue EBITDA EBITDA Margin (vs H1 2020) (vs H1 2020) (vs H1 2020) €139.6m €68.3m 48.9% +19.6% +0.7% (15.8%) Net Profit1 Net Debt Net Oper. Cashflow1 (vs Η1 2020) (vs FY 2020) (vs H1 2020) €29.1m €436.5m €92.9m +2.5% (€176.5m) 4.6% Installed Capacity2 Under Construction /
Slide 4: Installed Capacity
Installed Capacity Decrease in capacity is attributable to the discontinued US operations Installed Capacity (MW) 1,390 1,373 1,032 986 895* 738 640 664 2014 2015 2016 2017 2018 2019 2020 H1 2021 * Post discontinued operations in US 4
Slide 5: EBITDA & CapEx
EBITDA & CapEx EBITDA (€m) CAPEX Evolution (Debt & Equity) (€m) 89 68 68 69 H1 2020 H1 2021 H1 2020 H1 2021 5
Slide 6: Leverage
Leverage Significant headroom for additional investments Gross Financial Debt (€m) Cash (€m) 954 810 341 374 2020 H1 2021 2020 H1 2021 Net Leverage Net Cashflow from Operations (€m) 4.6x 3.2x 89 93 2020 H1 2021* H1 2020 H1 2021 * Annualised EBITDA. Cash includes restricted deposits 6
Slide 7: Electricity production KPIs
Electricity production KPIs Highly diversified and visible revenue mix due to healthy lifetime of assets under operation Installed Capacity Split by Country Ready to Installed Under Visible MW start June 2021 capacity construction Pipeline construction 763 330 c. 69 c.1,700 30 102 102 - - 895 MW 30
Slide 8: Projects Pipeline
Projects Pipeline Current CAPEX Pipeline Capacity Total Project Cost1 Project Finance Debt Equity / Cash South Evoia (Karifeas) 16% 7% 11% 17% 11% 12% Evritania 10% 400MW €773m €558m €149m Peloponnese 74% 77% Waste 83% 82% Management Cash Expected Capacity Total Project Project Equity / Project Type
Slide 9: Segmental analysis
Segmental analysis Construction RES Energy Concessions1 Trading H1 2021 H1 2020 % H1 2021 H1 2020 % H1 2021 H1 2020 % H1 2021 Q1 2020 % Revenue1 15.0 15.7 (4.5%) 98.4 92.3 6.6% 8.1 6.4 26.6% 26.6 16.3 63.2% EBITDA1 1.7 1.1 (54.5%) 67.4 65.1 3.5% 0.7 0.8 (12.5%) (0.5) 0.5 (200.0%) H1 2021 Revenue EBI
Slide 10: Group Profit & Loss Statement
Group Profit & Loss Statement1 in €m H1 2021 H1 2020 vs. 2020 % Revenue 139.6 116.7 19.6% Cost of sales -81.4 -59.4 37.0% Gross profit 58.2 57.3 1.5% GP Margin 41.7% 49.1% Administrative expenses (11.5) (9.6) 19.9% Research and development expenses (2.6) (1.0) 157.9% Other income, (expenses) 4.4 1.9
Slide 11: Group Balance Sheet
Group Balance Sheet Figures in € 000’s 30.06.2021 31.12.2020 Assets PP&E 860.3 1,347.0 Other non-current assets 125.6 145.6 Cash 310.7 290.9 Other current assets 170.4 191.2 Total Assets 1,466.9 1,974.6 Equity & Liabilities Equity attributed to the shareholders of the parent Share capital 34.8 34.8
Slide 12: Appendix
Appendix
Slide 13: Asset Portfolio Overview
Asset Portfolio Overview1 53 Projects Assets in Operation Didimos Lofos Energy Energy Type Capacity (MW) COD PPA Life Left (Y) Type Capacity (MW) COD PPA Life Left (Y) Greece Evoia SPA 121.0 2020 20 Greece Mitoula Tsilikoka 11.2 2000 1.8 Dafnozonara 11.2 2011 19.7 Hilos Eleousa Tsouka Tsougari 12.0
Slide 14: Disclaimer
Disclaimer We have prepared this document solely for informational purposes. You should not definitively rely upon it or use it to form the definitive basis for any decision, contract, commitment or action whatsoever, with respect to any proposed transaction or otherwise. You and your directors, off
Slide 15: Mesogeion, 11526 Athens, Greece
85 Mesogeion, 11526 Athens, GREECE yy, T. +30 210 6968300 +30 2106968096 _E. info@terna-energy.com “@ TERNA ENERGY GEK TERNA GROUP www-terna-energy.com