Energiekontor Ag · XETR:EKT
Energiekontor — FY2024 Earnings Presentation
44 slides from Energiekontor's earnings presentation, Mar 28, 2025
Slide 1: Company presentation Financial year 2024
Company presentation Financial year 2024 Bremen, 28 March 2025
Slide 2: Agenda
Agenda 01 Energiekontor at a glance 02 Market environment 03 Business year 2024 04 Financial year 2024 05 Outlook and mid-term strategy 06 Share and shareholder structure 07 Appendix
Slide 3: Energiekontor at a glance
01 Energiekontor at a glance
Slide 4: We are a leading German project developer and operator of onshore wind and solar parks
Energiekontor at a glance A solid business policy and lots of experience in renewable energies for >30 years • Founded in 1990 in Bremerhaven We are a leading • Headquartered in Bremen German project • Additional offices in Germany and abroad developer and (UK, PT, FR, US) operator of onshore • IPO
Slide 5: Important milestones in Energiekontor's successful development
Energiekontor at a glance Important milestones in Energiekontor‘s successful development 1994 1999 2002 2010 2017/18 2023 First wind park Foundation of the First wind park in Realisation of Market entry in the TecDAX listing in Misselwarden subsidiary in the Energiekontor’s the first solar park Unit
Slide 6: The three pillars of our success – Our business divisions
Energiekontor at a glance The three pillars of our success – Our business divisions Project development Covering the entire value chain from & sales acquisition to commissioning and sale; (onshore wind, solar) incl. repowering Energiekontor AG Power generation Income from the sale of the in the Grou
Slide 7: We proudly look back on a strong track record since company foundation
Energiekontor at a glance We proudly look back on a strong track record since company foundation ~170 realised wind and solar parks ~1.5 GW total generation Green energy for capacity Power generation >900,000 households ~3.0 billion kWh p.a. Saving ~2.3 million tons of CO2 p.a. 28 March 2025 Energie
Slide 8: We are close to the market – Across 5 countries at 17 company sites
Energiekontor at a glance We are close to the market – Across 5 countries at 17 company sites United Germany Kingdom 3 9 United 2 States 2 Portugal 1 France 28 March 2025 Energiekontor AG / Company Presentation / Financial year 2024 8
Slide 9: We are well positioned with a total of around 444 MW own capacity
Energiekontor at a glance We are well positioned with a total of around 444 MW own capacity (growing) Germany United Kingdom Portugal 32 3 4 wind and wind parks wind parks solar parks Ca. 346 MW Ca. 60 MW Ca. 38 MW As at 28 March 2025. 28 March 2025 Energiekontor AG / Company Presentation / Financia
Slide 10: Our team's regional presence is our strategic success factor
Energiekontor at a glance Our team's regional presence is our strategic success factor Decentralised Decentralised structures and structures and hierarchies hierarchies Project Project management from management A to Z from A to Z Close Close proximity proximity to to relevant relevant stakeholders,
Slide 11: Pioneers of change – Our mission statement
Energiekontor at a glance Pioneers of change – Our mission statement is more relevant than ever before 100% renewable energy As a pioneer in renewable energy, we are actively shaping the transition to 100% renewables. Concentrating on our core competences and innovations will drive our business to a
Slide 12: Our vision is 100% renewable energy
Energiekontor at a glance Taking an active role in shaping the future – Our vision is 100% renewable energy Short term Long term Realisation of wind and … at generation costs below solar parks in all … without public subsidies … those of conventional country markets … power plants. 28 March 2025 Ene
Slide 13: We grow organically and sustainably while maintaining our financial stability
Energiekontor at a glance We grow organically and sustainably while maintaining our financial stability ~50% own portfolio Power generation in the Group‘s own wind Project and solar parks development 100% cost Group EBT & sales coverage (+10% to +20% p.a.) Operation, (onshore wind, solar) developmen
Slide 14: We focus on our main strategic points
Energiekontor at a glance As a pioneer of the energy transition, we focus on our main strategic points Realisation of Systematic Implementing Consistent wind and solar expansion of the regionality Systematic development parks free of own portfolio principle to expansion of and expansion state subsid
Slide 15: Key areas of technology and innovation
Energiekontor at a glance We focus on these key areas of technology and innovation Real-time data monitoring Smart Windfarm Controlling Reduction of downtimes through Optimisation of park efficiency automated fault clearance workflow Preventive maintenance Hybrid park concepts Reducing downtime with
Slide 16: Market environment
02 Market environment
Slide 17: Renewable energies generated nearly 60% of electricity in Germany in 2024
Market environment Renewable energies generated nearly 60% of electricity in Germany in 2024 Renewable energies Total of Total of ~497 ~284 billion kWh billion kWh (100%) (100%) Gross power production in Germany (in %). Source: Federal Statistical Office. 28 March 2025 Energiekontor AG / Company Pre
Slide 18: Onshore wind energy expansion in Germany in 2024 below PY level
Market environment Onshore wind energy expansion in Germany in 2024 below PY level 63,538 (cumulated) Wind Target for 2030 115 GW Target fulfilment requires an average annual expansion of 8 to 9 GW Installed generation capacity (in MW). Source: German Federal Network Agency (preliminary figures for
Slide 19: Dynamic expansion of solar capacity in Germany continued in 2024
Market environment Dynamic expansion of solar capacity in Germany continued in 2024 99,198 (cumulated) Solar Target for 2030 215 GWp Target fulfilment requires an average annual expansion of ~20 GWp Installed generation capacity (in MWp). Source: German Federal Network Agency (preliminary figures fo
Slide 20: Current market challenges
Market environment Current market challenges ! ! ! ! ! Limited market Prolonged availabilities delivery High Delays of wind Higher times and interest in grid turbines and costs realisation rates expansion large components processes 28 March 2025 Energiekontor AG / Company Presentation / Financial ye
Slide 21: Countermeasures
Market environment Countermeasures Systematic Securing Expansion improvement of Project attractive of the procure- profitability marketing in the Early request electricity tariffs ment of systems through UK based on the and securing of for existing and large-scale technical and "ready-to-b
Slide 22: Business year 2024
03 Business year 2024
Slide 23: Energiekontor successfully completes transition year 2024
Business year 2024 Highlights in FY 2024 • Adjusted earnings forecast fulfilled • Sales and earnings below PY as expected Energiekontor • Dividend proposal adjusted to €0.50 successfully • Forecast for FY 2025 raised significantly completes • Growth strategy 2023 to 2028 confirmed transition year 20
Slide 24: Operational progress in FY 2024 (and beyond)
Business year 2024 Operational progress in FY 2024 (and beyond) 28/03/2025 31/12/2024 31/12/2023 Projects Capacity Projects Capacity Projects Capacity (number) (MW) (number) (MW) (number) (MW) Project sales1 0 0 3 51 5 162 Under construction or FC in place 10 319 10 368 9 316 - of which for own port
Slide 25: Expansion of own park portfolio to >600 MW
Business year 2024 Expansion of own park portfolio to >600 MW Generation capacity Tech- Remune- Project Total Projects (expansion path) Country Period1 nology ration (MW/MWp) (MW) Com. Seukendorf Solar DE PPA Q4 2024 +11.6 395.12 Sale Giersleben Wind DE PPA Q4 2024 -11.3 383.8 Com. Letschin Solar DE
Slide 26: Project pipeline expanded again by end of 2024
Business year 2024 Project pipeline expanded again by end of 2024 Value added Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 Cumulative Project pipeline per phase value added (incl. US project rights) 1-2% 5,391 >2.7 GW 1-2% 11,667 12,116 in phases (6,142) 3 to 5 ~220 MW under construc- tion for own 6-8% 3
Slide 27: Project pipeline well diversified by end of 2024
Business year 2024 Project pipeline well diversified by end of 2024 Regional diversification Technological diversification 1.7% 7.7% 8.5% 32.9% ~12.1 GW 53.3% ~12.1 GW 28.8% 67.1% Germany Onshore wind United Kingdom Solar France United States Portugal 28 March 2025 Energiekontor AG / Company Present
Slide 28: Financial year 2024
04 Financial year 2024
Slide 29: Group profit and loss statement
Financial year 2024 Group profit and loss statement In € million 2024 2023 Change Sales 126.5 241.8 -47.7% Total output 195.9 275.4 -28.9% EBITDA 72.9 135.6 -46.2% EBIT 49.8 144.4 -65.5% EBT 36.2 95.5 -62.1% Group result 22.6 83.3 -72.9% Earnings per share (undiluted, in €) 1.62 5.97 -72.9% 28 March
Slide 30: Sales and EBT contribution by segment
Financial year 2024 Sales and EBT contribution by segment Project development & sales (onshore wind, solar) Sales share EBT share In € million 2024 2023 Change €241.8 m €126.5 m €95.5 m €36.2 m Sales (external) 52.4 157.8 -66.8% EBT 7.3 64.1 -88.6% Power generation in the Group‘s own wind and solar
Slide 31: Group balance sheet
Financial year 2024 Group balance sheet In € million 31/12/2024 31/12/2023 Change Cash & cash equivalents 142.0 175.6 -19.1% (Incl. short-term securities) Long-term liabilities 402.0 378.4 6.2% Short-term liabilities 185.1 158.0 17.2% Equity 186.9 185.2 0.9% Equity ratio (in %) 24.1 25.7 -1.6 pp Bal
Slide 32: Group cash flow statement
Financial year 2024 Group cash flow statement Cash flow from Cash flow from Cash flow from operating investing financing activities activities activities €-43.4 m €-9.3 m €18.8 m 175.6 142.0 Thereof cash €92.1 m Thereof short- term securities €49.9 m 28 March 2025 Energiekontor AG / Company Presenta
Slide 33: Outlook and mid-term strategy
05 Outlook and mid-term strategy
Slide 34: Guidance for FY 2025 significantly raised
Outlook and mid-term strategy Forecast for FY 2025 Forecast for Group EBT of €70 to 90 million → Planned project sales in DE, the UK, the US (solar) → Main contributions by the UK (ready-to-build sales) → Incl. postponed Scottish wind project transaction Guidance for → Expansion of own generation ca
Slide 35: Back on track with the 2023 to 2028 growth strategy
Outlook and mid-term strategy Back on track with the 2023 to 2028 growth strategy Linear vs. actual earnings development Growth strategy 20231 to 2028 (EBT in € million) • Targeted EBT growth to around €120 million in FY 2028 • Based on proven organic growth model (50/50 takeover rate) Earnings and
Slide 36: Share and shareholder structure
06 Share and shareholder structure
Slide 37: Basic share information
Share and shareholder structure Basic share information Key share data Shareholder structure1 WKN ∙ ISIN 531350 ∙ DE0005313506 Bloomberg ∙ Reuters EKT Class of shares No-par-value bearer shares Listing Deutsche Börse, Frankfurt/Main Marketplaces XETRA, Frankfurt, all other German marketplaces Market
Slide 38: Dividend payout and analysts' coverage
Share and shareholder structure Dividend payout and analysts' coverage Dividends Coverage Broker/Institute Recommendation Price target Last update First Berlin Buy €110.00 18/03/2025 (Hauck & Aufhäuser)1 (Buy) (€136.00) (20/12/2023) Metzler Buy €109.00 13/03/2025 M.M. Warburg Buy €149.00 05/12/2024
Slide 39: Share price performance vs. benchmark indices
Share and shareholder structure Share price performance vs. benchmark indices Date Closing price 29/12/2023 €82.70 12/01/2024 €82.00 (high) 21/11/2024 €40.15 (low) 31/12/2024 €49.15 21/03/2025 €56.40 Source: Refinitiv; XETRA; indexed closing prices in %; as at 21 March 2025. 28 March 2025 Energiekon
Slide 40: Appendix
07 Appendix
Slide 41: Financial calendar and news
Appendix Financial calendar and news Date Event Location/format 15 May 2025 Interim statement on the first quarter of 2025 Publication 28 May 2025 Annual General Meeting Ritterhude 14 August 2025 Half-year financial report for 2025 Publication 13 November 2025 Interim statement on the third quarter
Slide 42: Contact
Contact Investor & Public Relations Julia Pschribülla Kathrin Mateoschus Head of IR & PR IR & PR Manager Phone: +49 (0)421-3304-126 Phone: +49 (0)421-3304-297 Email for IR matters: ir@energiekontor.com Email for PR matters: pr@energiekontor.com Energiekontor AG Mary-Somerville-Strasse 5 28359 Bremen
Slide 43: Thank you for your attention!
Thank you for your attention!
Slide 44: Disclaimer
Disclaimer The information in this presentation does not constitute an offer to buy or sell securities or a solicitation of an offer to buy securities but is provided for informational purposes only. The information contained in this presentation is directed exclusively at interested parties domicil