Photon Energy Nv · GPW:PEN
Photon Energy Nv — Q1 2023 Earnings Presentation
28 slides from Photon Energy Nv's earnings presentation, May 12, 2023
Slide 1: Q1 2023 Results
Q1 2023 Results Photon Energy N.V. 12 May 2023 Leeton, Australia (14.6 MWp)
Slide 2: Disclaimer
Q1 2023 Results Disclaimer This presentation is for information purposes only and may not be copied in whole or in part for any purpose, or forwarded to third parties or published. This presentation includes written material or slides for a presentation on Photon Energy N.V. (“the Company") and thei
Slide 3: Business Model
Business Model Strategy Financials Outlook 2023 Q&As Lord Howe Island, Australia (1.3 MWp / 3.7 MWh)
Slide 4: Business Model
Business Model Strategy Financials Outlook 2023 Q&As Slavkov, Czech Republic (1.2 MWp)
Slide 5: About Us
Q1 2023 Results About Us We are dedicated to ensuring that everyone has access to clean energy and water Photon Energy Group Founded in Headquartered in 320+ Active in Shares traded 3 x BUY Sustainability 2008 Amsterdam Employees 10+ countries in PL, CZ and DE PT: EUR 4.04 - 4.60 Rating* Solar Busin
Slide 6: Our Global Presence
Q1 2023 Results Our Global Presence +10.3 MWp under construction Focus on Europe and Australia Project development ► Project pipeline with a combined capacity of 940+ MWp ► Focus on Hungary, Poland, Romania and Australia Electricity generation (113.1 MWp) ► 11 proprietary power plants in the Czechia
Slide 7: Strategy
Business Model Strategy Financials Outlook 2023 Q&As Sydney, Australia (100 kWp)
Slide 8: Lerta – New Energy Division
Q1 2023 Results Lerta – New Energy Division About Lerta We have completed the acquisition of the Polish company to forward ► Lerta has energy trading licenses in six European markets, integrate into the energy value chain in CEE and beyond. aggregates assets using Virtual Power Plant technology (app
Slide 9: Expansion of Photon Energy’s Business Model
Q1 2023 Results Expansion of Photon Energy’s Business Model Photon Energy’s Solar Business Services Lerta’s Grid and Customer Services Project Energy Development Technology O&M Off-take Energy Supply Solutions Engineering Investments Trading & VPP Demand Response The fusion of physical & digital ene
Slide 10: RayGen Technology to Accelerate Further Capacity Growth
Q1 2023 Results RayGen Technology to Accelerate Further Capacity Growth About the technology About our partnership ► RayGen has combined its proprietary solar technology, ► Photon Energy made a minority equity investment in the company in April PV Ultra, with its unique storage system, Thermal Hydro
Slide 11: Financials
Business Model Strategy Financials Outlook 2023 Q&As Aiud, Romania (4.7 MWp)
Slide 12: Highlights Q1 2023
Highlights Q1 2023 ► Increase of investment into LERTA from 85.62% to 100% Teius ownership as of 1 February 2023 4.7 MWp ► Commissioning of a 5.7 MWp PV power plant in Siria, Romania and another 5 power plants with a combined capacity of 15.5 MWp in Romania after the reporting period. Siria 5.7 MWp
Slide 13: Business Development
Q1 2023 Results Business Development Proprietary portfolio, cumulated (MWp) 113.1 MWp Continued progress across all segments 120 16.2 100 90.5 MWp 91.9 MWp ► 24.1 GWh of electricity (-9.8% YoY) generated by our 80 +1.4 16.2 +21.2 proprietary power plant portfolio in Q1 2023. 60 74.5 96.9 ► Commissio
Slide 14: Q1 2023 Financial Results
Q1 2023 Results Q1 2023 Financial Results Income Statement In thousand EUR Q1 2023 Q1 2022 Change in % FY 2022 Total revenues 19,280 9,137 111.1% 95,136 of which from electricity generation 4,150 4,951 -16.2% 35,239 EBITDA 330 2,024 -83.7% 24,309 EBIT -1,569 528 nm 16,985 Net profit/Net loss - 4,170
Slide 15: Q1 2023 Financial Results: Balance Sheet
Q1 2023 Results Q1 2023 Financial Results Assets 300,000 Total assets EUR EUR 269.5 M Total assets +6.2% 275,000 253.8 M Balance Sheet +29.1% 19.1 M 250,000 21.4 M EUR 225,000 44.7 M 196.6 M 43.2 M 200,000 ► Increase of Fixed assets: mainly resulting from the addition of the 175,000 39.4 M 150,000 1
Slide 16: Q1 2023 Financial Results: Cash Flow
Q1 2023 Results Q1 2023 Financial Results Cash Flow ► Negative operating cash flow driven by negative changes in the net working capital (e.g. increased inventories and activities connected to Lerta) which could not be compensated by the operating result of the In thousand EUR Q1 2023 Q1 2022 curren
Slide 17: Outlook 2023
Business Model Strategy Financials Outlook 2023 Q&As Siria, Romania (5.7 MWp)
Slide 18: Photon Energy: Outlook for 2023
Q1 2023 Results Photon Energy: Outlook for 2023 Revenue and EBITDA Guidance Guidance 2023 In thousand EUR 160,000 Total revenues 150,000 +57.7% 140,000 ► Revenues projected to reach EUR 150.0 million 120,000 representing a 57.7% increase YoY. 100,000 95,136 80,000 ► Leading to a 19.3% YoY EBITDA inc
Slide 19: Q&As
Business Model Strategy Financials Outlook 2023 Q&As
Slide 20: Annex
= Photon Energy Group Annex
Slide 21: The Future of Our Business is the Energy Market
Q1 2023 Results The Future of Our Business is the Energy Market High energy prices in our key markets Comparison German Base Load Price EEX in EUR/MWh Electricity spot price / Electricity Forward price 250 Key Figures daily average 2024 EEX January 22 EU CAP 1 March 2023 EEX current LCOE PE Romania
Slide 22: Essential for our Growth is our Project Pipeline
Q1 2023 Results Essential for our Growth is our Project Pipeline Pipeline of projects under development (in MWp) Project development process 2. Early 3. Advanced 4. Ready-to- 5. Under ► The typical development period of new PVPPs is 12–24 months and the Country 1. Feasibility Total in MWp developmen
Slide 23: Overbuilding and Using Trackers Makes the Investment More Attractive
Q1 2023 Results Overbuilding and Using Trackers Makes the Investment More Attractive Daily production profile (fixed and trackers) vs HUPX DAM hourly electricity prices 0.50 Fixed-tilt Maximum available grid capacity installation 0.45 0.40 0.35 Electricity Price (EUR/MWh) 0.30 Power (kW) 0.25 WEST E
Slide 24: Business Model: Solar Services
Q1 2023 Results Business Model: Solar Services Our services cover the entire Project Development lifecycle of photovoltaic systems. We develop projects in-house and acquire them at all stages of development. Operations and Maintenance Engineering (EPC) We provide a full range of O&M We design and bu
Slide 25: Business Model: Water Services
Q1 2023 Results Business Model: Water Services Our comprehensive services and Treatment solutions help to make clean water We deliver treatment solutions including potable and accessible to everyone. wastewater treatment, hazardous liquid waste and industrial water treatment. Remediation Wells and R
Slide 26: Photon Water – Business Opportunity Still Not Priced In
Q1 2023 Results Photon Water – Business Opportunity Still Not Priced In Nano-remediation is our answer to the global problem of PFAS contamination in ground water Definition of Global Hazard Our Nano-remediation solution Per- and polyfluorinated substances (PFAS) – group of It is a proprietary paten
Slide 27: Our Share
Q1 2023 Results Our Share Research ISIN NL0010391108 Institution Rating Target Price* Shares outstanding 59,819,838 AlsterResearch Buy EUR 4.60 PLN 21.55 CZK 109 Shares in free-float 17,990,627 IPOPEMA Buy EUR 4.04 PLN 18.91 CZK 96 Market cap 30.04.2023 EUR 158 million Net debt 31.03.2023 EUR 138 mi
Slide 28: GREEN EUR Bond 2021/27
Q1 2023 Results GREEN EUR Bond 2021/27 Bond GREEN EUR Bond 2021/2027 Volume EUR 80.0 million Coupon 6.50% p.a., quarterly payment Initial offering 23 November 2021 ► IMUG | rating – second party opinion, Ratings/Awards ► KFM Barometer 4 of 5 stars ► Best Issuer Green SME Bonds 2021 Segment Secondary