Ballard Power Systems Inc. · TSX:BLDP
Ballard Power Systems — FY2005 Earnings Presentation
13 slides from Ballard Power Systems's earnings presentation, February 2006
Slide 1: Making fuel cells a commercial reality
making fuel cells a commercial reality 0
Slide 2: Agenda
Agenda 1 I. John Sheridan, President & Chief Executive Officer 2005 Overview II. Chris Guzy, Chief Technology Officer Technology Achievements II. Dave Smith, Chief Financial Officer Financials IV. John Sheridan 2006 Goals V. Questions and Answers 1 making fuel cells a commercial reality
Slide 3: Forward Looking Statements
Forward Looking Statements 2 This presentation contains forward-looking statements that are based on management’s current expectations, beliefs and assumptions concerning future events. These statements are subject to risks, uncertainties and other important factors that may cause our actual results
Slide 4: 2005 Was an Important Year for Ballard
2005 Was an Important Year for Ballard 3 Developed clear priorities in our key market segments Residential fuel cell cogeneration in Japan Emerging power generation markets Materials handling Backup power Automotive Narrowed our business scope Strengthened our development and funding
Slide 5: Ballard Ended 2005 With Good Momentum
Ballard Ended 2005 With Good Momentum 4 Solidified our financial position net loss: $87 million … reduced from $175.4 million cash consumption: $83 million … excluding BPSAG: $64.2 million cash and equivalents: $233 million Established traction in near term markets shipped and booked 221
Slide 6: Ballard Met its 2005 Technology Road Map Goals
Ballard Met its 2005 Technology Road Map Goals 5 Cost: $73/kW* Freeze start: -25o C in 90 seconds Volumetric power density: 1,470 Wattsnet/liter Durability: 2,100 hours *Externally audited by TIAX LLC making fuel cells a commercial reality
Slide 7: Ballard's Technology Targets are Even More Stringent for 2006
Ballard’s Technology Targets are Even More Stringent for 2006 6 Cost: $65/kW Freeze start: -30o C in 195 seconds Volumetric power density: 1,500 Wattsnet/liter Durability: 2,300 hours making fuel cells a commercial reality
Slide 8: Our Technology Achievements are Evident in Our Products
Our Technology Achievements are Evident in Our Products 7 Shipped first next generation Mark 1030 engineering prototype Shipped first automotive next generation engineering prototype (Mark 1100) Next generation electric drive program progressing on schedule making fuel cells a commercial reali
Slide 9: Net Loss Reduced Significantly
Net Loss Reduced Significantly 8 Net Loss - Q4 Q4 net loss: $16.1 million 60 Four areas of improvement led to lower net loss for the fourth quarter: 50 Decrease of R&D expenses after sale of automotive systems business, 40 BPSAG Increase of engineering service 30 2004 revenue from automotive
Slide 10: Revenue in Line with our Expectations
Revenue in Line with our Expectations 9 Q4 2005 vs. 2004 revenues: Q4 revenue: $17.7 million Increases of $2.1 million: 2005 revenue: $53.7 million Engineering service revenue and power generation increased by 2006 revenue estimate: $55 - $65 million $4.4 million Bus revenues decreased by
Slide 11: Cash Consumption Reduced and Cash Position Higher than Guidance
Cash Consumption Reduced and Cash Position Higher than Guidance 10 Ballard met or exceeded all 90 2005 financial guidance 80 Q4 operating cash 70 consumption: $5.8 million vs. 60 $17.9 million in Q4 2004 50 2004 40 2005 operating cash 2005 consumption: $83.3 million 30 Excluding BPSAG: $64.2 2
Slide 12: Sharpened Focus on Delivery
Sharpened Focus on Delivery 11 2006 Commitments Power Generation: Residential Cogeneration book or ship 280 Mark 1030 fuel cells deliver prototype of next generation fuel cell for field demonstration Materials Handling and Backup Power book or ship 300 Mark9 SSL™ fuel cells Automotive: a
Slide 13: Making fuel cells a commercial reality
making fuel cells a commercial reality 12