Slide 1: Company Presentation
CONFIDENTIAL Company Presentation June 2022
Slide 2: Today’s presenters & agenda
Today’s presenters & agenda 1. Introduction to Soltech Stefan Ölander CEO 2. Solar market outlook Niclas Lundin CFO 3. Appendix 1 Strictly private and confidential
Slide 3: Soltech Energy – We integrate solar energy in daily life
1 2 3 Acquisition Transformation Integration Soltech Energy – We integrate solar energy in daily life Financialsa & share The Soltech model The family # of acquired companies Acquisitions of solar, roofing-, - 3 8 10 8 1 electrical engineering- and façade companies #21 1,094 952 CAGR: 161% 2 Transfo
Slide 4: Soltech’s acquisition model & international expansion
1 2 3 Acquisition Transformation Integration Soltech’s acquisition model & international expansion Soltech - M&A strategy & criteria's In 2022 Soltech took its first step out in Europe ▪ Solar, roofing-, facade- and electrical < engineering companies Type of companies ▪ With a dedicated entrepreneur
Slide 5: Transformation of non-solar companies into solar
1 2 3 Acquisition Transformation Integration Transformation of non-solar companies into solar The transformation to solar... ...generates significant benefits for stakeholders Customers Investors ✓ One-stop shop offering ✓ Multiple arbitrage ✓ Brand recognition ✓ Value creation ✓ Pricing power (+10-
Slide 6: Integration into the Soltech family
1 2 3 Acquisition Transformation Integration Integration into the Soltech family Integration to the Soltech family A common visual identity builds a strong brand Soltech’s governance model is characterised by decentralisation, since the best business decisions are np gruppen Powered by SolTech Energ
Slide 7: Transformative M&A optimises the value creation
1 2 3 Acquisition Transformation Integration Transformative M&A optimises the value creation Value creation The value each companies creates when integrated in the Soltech family, is significantly higher compared to a stand alone basis np gruppen Powered by SolTech Energy Solar Companies Roofing-, f
Slide 8: Soltech today & the future
Soltech today & the future Geographical footprint #Acquired companies, revenue & financial targets Electrical engineering Traditional #3 Solar #5 25% Facade #2 40% Solar #21 SEK 287m Acquisitions Revenue Q1 22’ #11 35% Roof Combined SEK 4.7bn 8-10% Sales target 2024 EBIT target 2024 Own solar park w
Slide 9: Reaching the 2024 profitability target
Reaching the 2024 profitability target Economy of scale Up-sell and cross-sell Already set-up group functions are Soltech has identified the benefits of sufficient for a much larger bundling different group companies services organisation. Having built for the in their value proposition against end-
Slide 10: Case Study: The power of Soltech
Case Study: The power of Soltech Largest solar façade in Sweden The transformation Before Jönköping 3,500m2 21,000m2 Location Solar facade New roof 250 MWh #5,000 ~50% Solar façade Numbers of panels Energy saving capacity on the facade A collaboration of five Soltech subsidiaries < Solar facade Roof
Slide 11: Introduction to Soltech Solar market outlook Appendix
1. Introduction to Soltech 2. Solar market outlook 3. Appendix 10 Strictly private and confidential
Slide 12: The solar energy that hits the earth during 2 hours...
The solar energy that hits the earth during 2 hours is enough to cover the global power consumption for 365 days 11 Strictly private and confidential
Slide 13: Soltech is supported by strong underlying trends...
Soltech is supported by strong underlying trends... Change in the energy supply mix Electricity demand leap Reduced costs for solar Accumulated installed capacity Yearly electricity consumption in Europe EUR/MWh (LCOEa) 67.5% - change 300 4,150 TWh 36% 250 Sun power 672 GW 200 15% Wind power 150 467
Slide 14: ...and political climate goals & incentives
...and political climate goals & incentives Swedish climate goals & incentives European climate goals & ambitions 2030 2040 2045 2030 2030 2050 63% 100% Net-zero 55% 32% Net-zero Reduction in Renewable GHG emission Reduction in Renewable GHG emission GHG emissionsa electricity GHG emissionsa energy
Slide 15: Swedish EPC solar industry: a mass-market opportunity
Swedish EPC solar industry: a mass-market opportunity Projected Swedish solar electricity production Investments in Swedish solar energy Pre-registrations Jan & Feb GW GWh 30 +161% 86 33 27 25 2021 2022 4.2x 24 Increase in investments 20 Long-termb CAGR: 11.3% 21 (vs. 2.7% other sources) SEK 16bn SE
Slide 16: European market will also experience a considerable roll-out
European market will also experience a considerable roll-out Projected European solar electricity production Investments in European solar energy 290% - change 672 GW 3.9x Increase in investments SEK 1.806bn SEK 7.056bn Acc. investment 172 GW 2020 2030E 2021 2030E Also the European solar market expe
Slide 17: Introduction to Soltech Solar market outlook Appendix
1. Introduction to Soltech 2. Solar market outlook 3. Appendix 16 Strictly private and confidential
Slide 18: Highly experienced management team & BoD
Highly experienced management team & BoD Stefan Ölander Patrik Hahne Chief Operating Officer Chef Executive Officer and Member of the Board • With the company since 2021 • Previously at Enequi, Addtech, Gycom Group • CEO since 2018 • Board member since 2011 Oscar Nelson • Previously communications H
Slide 19: Soltech’s shareholders
Soltech’s shareholders 15 largest share holders in Soltech Mgmt & portfolio company CEO’s Portfolio # Owner # of shares Value (MSEK) % share CEO’s & mgmt 17.2% 1 Avanza Pension 5,310,208 95 5.3% 2 Swedbank Försäkring 2,479,531 44 2.5% 3 BG Fund Management Luxembourg 2,224,016 40 2.2% 4 Stefan Ölande
Slide 20: Share price development
Share price development Soltech’s share price development compared to OMXS Share information SOLT 45 10,00 0 Ticker 40 9,000 SEK 1.9bn 35 Marcet cap 8,000 7,000 30 6,000 Nasdaq FN 25 Listing venue 5,000 20 4,000 SE0005392537 15 ISIN 3,000 10 Average daily volume 2,000 5 1,000 0 - 370,579 638,187 675
Slide 21: Income statement
Income statement 210101 TSEK Q1 2022 Q1 2021 211231 Net sales 281,869 133,043 912,697 Change in inventory - 3,375 - Other operating income 5,607 8,759 327,132 Total revenues 287,476 145,177 1,239,829 Operating costs Raw materials, supplies and commodities -180,406 -69,748 -492,156 Other external cos
Slide 22: Balance sheet
Balance sheet TSEK 2022-03-31 2021-03-31 2021-12-31 TSEK 2022-03-31 2021-03-31 2021-12-31 Assets Equity & Liabilities Non-current assets Equity 900,317 571,100 938,516 Intangible assets Minority interest in capital 9,653 104,896 34,966 Balanced expenses of development work 1,087 - 933 Goodwill 375,3
Slide 23: Cash flow statement
Cash flow statement 210101 TSEK Q1 2022 Q1 2021 211231 Operating activities Profit after financial items -53,221 -28,378 150,715 Non-cash items 21,419 31,968 -115,167 Interest and dividends received 826 40 1,462 Interest paid -7,062 -39,159 -110,824 Tax paid -9,582 -2,071 -9,583 Cash flow from opera
Slide 24: Soltech mentioned in the daily media (1/2)
Soltech mentioned in the daily media (1/2) 23 Strictly private and confidential
Slide 25: Soltech mentioned in the daily media (2/2)
Soltech mentioned in the daily media (2/2) 24 Strictly private and confidential
Slide 26: Strictly private and confidential
25 Strictly private and confidential