Ameresco, Inc. · NYSE:AMRC
Ameresco — Q4 2020 Earnings Presentation
15 slides from Ameresco's earnings presentation, Mar 1, 2021
Slide 1: Q4 2020 Supplemental Information
ameresco.com © 2020 Ameresco, Inc. All rights reserved. Q4 2020 Supplemental Information March 1, 2021
Slide 2: Safe Harbor Forward Looking Statements
2 Safe Harbor Forward Looking Statements Any statements in this presentation about future expectations, plans and prospects for Ameresco, Inc., including statements about market conditions, pipeline and backlog, as well as estimated future revenues and net income, and other statements containing the
Slide 3: Q4 2020 Highlights
Q4 2020 Highlights 3 GAAP EPS Non-GAAP Net Income Non-GAAP EPS Adjusted EBITDARevenue GAAP Net Income $0.47 $35.7M$0.47 $23.5M $314.3M$23.0M
Slide 4: Sources of Revenue – Q4 2020
Sources of Revenue – Q4 2020 4 Projects Energy efficiency and renewable energy projects Recurring Energy & incentive revenue from owned energy assets; plus recurring O&M from projects Other Services, software and integrated PV $244.8M $50.0M $19.5M
Slide 5: FY 2020 Highlights
FY 2020 Highlights 5 GAAP EPS Non-GAAP Net Income Non-GAAP EPS Adjusted EBITDARevenue GAAP Net Income $1.10 $117.9M$1.18 $54.1M $1.03B$57.8M
Slide 6: Sources of Revenue – FY 2020
Sources of Revenue – FY 2020 6 Projects Energy efficiency and renewable energy projects Recurring Energy & incentive revenue from owned energy assets; plus recurring O&M from projects Other Services, software and integrated PV $764.6M $190.6M $77.1M
Slide 7: 66% of EBITDA Came From Recurring Lines of Business
66% of EBITDA Came From Recurring Lines of Business 7 Projects 74% Assets 11% O&M 7% Other 8% 18% Recurring $1.03B Revenue Projects 31% Assets 55% O&M 11% Other 3% $118M Adjusted EBITDA* 66% Recurring * Adjusted EBITDA percentages allocate corporate expenses according to revenue shareYear-to-Date 20
Slide 8: Energy Asset Portfolio – 12/31/2020
Energy Asset Portfolio – 12/31/2020 8 282 MWe of Energy Assets. Renewable Gas is 129 MWe, Solar is 147 MW, Other is 6 MW* 351 MWe in development & construction. Renewable Gas is 114 MWe, Solar is 217 MW, Energy as a Service is 21 MW* Operating Energy Assets 282 MWe Other: 2% Solar: 52% RNG: 9% LFG D
Slide 9: Energy Asset Balance Sheet – 12/31/2020
Energy Asset Balance Sheet – 12/31/2020 9 $267M of the $729M energy assets on our balance sheet are still in development or construction. $271M of the $381M* of total debt on our balance sheet is debt associated with our operating energy assets. All of the energy debt is non-recourse to Ameresco, In
Slide 10: Tremendous Forward Visibility: Backlog & Recurring Revenue Business
$0 $600,000,000 $1,200,000,000 Awarded Project Backlog Contracted Project Backlog Operating Energy Assets O&M Backlog Tremendous Forward Visibility: Backlog & Recurring Revenue Business 10 ~ 12-24 months to contract ~ 12-36 months of revenue 14 year weighted average PPA remaining 16 year weighted av
Slide 11: Sustainable & Profitable Business Model
Sustainable & Profitable Business Model 11 Revenue ($M) $651 $717 $787 $867 $1,032 $1,100 2016 2017 2018 2019 2020 2021 Guidance $1,150 High-End 12.1% CAGR Low-End 11.1% CAGR Adjusted EBITDA ($M) $56 $63 $91 $91 $118 $135 2016 2017 2018 2019 2020 2021 Guidance $145 High-End 21.0% CAGR Low-End 19.2%
Slide 12: Enabling a Low Carbon Future
Enabling a Low Carbon Future Since 2010, Ameresco’s renewable energy assets & customer projects delivered a Carbon Offset equivalent to: Greenhouse gas emissions from… 31.4 billion miles driven by an average passenger vehicle Carbon sequestered by… 16.5 million acres of U.S. forests in one year or D
Slide 13: Thank You to Our Customers, Employees, and Shareholders
ameresco.com © 2020 Ameresco, Inc. All rights reserved. to Our Customers, Employees, and Shareholders Thank You
Slide 14: Non-GAAP Financial Measures
14 Non-GAAP Financial Measures We use the Non-GAAP financial measures defined and discussed below to provide investors and others with useful supplemental information to our financial results prepared in accordance with GAAP. These Non-GAAP financial measures should not be considered as an alternati
Slide 15: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation 15 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Adjusted EBITDA: Net income attributable to common shareholders 23,485$ 22,203$ 54,052$ 44,436$ Impact from redeemable non-controlling interests 276 (1,611) 2,870 (4,135) Less: Income tax benefit (1,091) (5,748) (494)