Ellomay Capital Ltd · AMEX:ELLO
Ellomay Capital — Investor Presentation (May 2014)
21 slides from Ellomay Capital's investor presentation, May 15, 2014
Slide 1: Ellomay Capital Limited
ellomay CAPITAL LIMITED
Slide 2: Disclaimer
Disclaimer General: The information contained in this presentation is subject to, and must be read in conjunction with, all other publically available information, including our Annual Report on Form 20-F for the year ended December 31, 2013, and other filings that we make from time to time with the
Slide 3: Corporate Profile
NYSE MKT; TASE ELLO Share Price (5/1/14) $9.63 Market Cap (5/1/14) $103 M Shares Outstanding 10.7 M FY 2013 Revenue $13.0 M FY 2013 Adjusted EBITDA* $6.6 M Cash (12/31/13) $7.2 M Corporate Profile *For the full disclosure of the reconciliation to the IFRS please see Ellomay’s 20-F filings
Slide 4: Company Overview
Company Overview Ellomay operates in the energy and infrastructure sectors, including renewable and clean energy, and aims to exploit attractive yield to risk ratios. Current management/controlling shareholders took control of a public shell with approximately $80M of cash and began investing/operat
Slide 5: Ownership and asset structure
The public Shlomo Nehama Kanir Partnership *Mr. Shlomo Nehama owns the shares of Ellomay directly and indirectly. A shareholders agreement was signed between Kanir partnership and the company controlled by Shlomo Nehama. ** Kanir partnership is controlled by Mr. Ran Fridrich and Mr. Hemi Raphael . R
Slide 6: Portfolio Summary
Spain Italy Israel Nominal Capacity 2,275 kWp 22,635 kWp 800 MW % Ownership 85% 100% 7.5%* 2013 Revenues $1.3 M $11.7 M N/A [not operational yet] Cost of Property, Plant and Equipment as of March 1, 2014 ~ $7.6 M ~ $94.5 M Total capital expenditure in connection with the investment in Dorad as of Ma
Slide 7: Growing Capacity of Ellomay's PV Portfolio
Growing Capacity of Ellomay’s PV Portfolio
Slide 8: Italian PV Market
Italian PV Market The Italian government adopted the European most common incentive scheme- Feed In Tariff (FiT). The energy authority in Italy (GSE) pays a long-term nominal rate per every kilo-watt hour that is produced by a PV plant on top of the price of electricity the PV plant receives on elec
Slide 9: Italian PV Plants
Project name Nominal Size (kWp) Acquisition Year Acquisition Cost per MWp (in millions) Technology Region FIT* Eurocent/KWh Del Bianco 734 2010 2.9€ Fix Marche 34.57 Costantini 734 2010 2.9€ Fix Marche 34.57 Giacchè 730 2010 3.8€ Trackers Marche 34.57 Massaccesi 749 2010 3.8€ Trackers Marche 34.57 T
Slide 10: PV Plant in Spain - 2.275 MW
Project name Rinconada II Location Alcolea (Cordoba, Spain) Nominal Size (kWp) 2,275 Connection Date July 2010 Remuneration period 30 years Technology Fix Date Acquired July 1, 2012 Acquisition cost per MWp (in millions) 2.40€ PV Plant in Spain - 2.275 MW * *Ellomay owns 85% of the plant
Slide 11: Dorad Energy
Ellomay indirectly holds a 7.5% interest in Dorad, and an option to purchase additional interest of approximately 1.9%. As of today, Dorad is the largest private power station in Israel, with installed capacity of approximately 800 MW. The station is bi-fuel and powered by natural gas. The cost of t
Slide 12: Dorad Energy
Dorad Energy In July 2013, the Dorad Power Station was energized and connected to the Israeli national grid. In November 2013, the Natural Gas Authority of the Israeli Ministry of National Infrastructures, Energy and Water Resources approved the connection of the Dorad Power Plant to the national ga
Slide 13: Dorad Energy
Dorad Energy Electricity is sold directly to end-users and to the national distribution network at competitive rates. The station, that was declared a national infrastructure project by the Israeli Prime Minister, is operational and connected to the grid. Ellomay has invested approximately NIS 104 m
Slide 14: Financial Summary
(US$ in thousands) December 31, 2012 December 31, 2013 Cash and cash equivalent 33,292 7,238 Short-term restricted cash 8,085 5,653 Long-term restricted cash 3,253 4,315 Investment in Dorad 19,683 24,990 Total assets 128,740 146,930 Total liabilities 45,626 47,169 Total equity 83,114 99,761 (US$ in
Slide 15: Leadership Team
Leadership Team Shlomo Nehama, Director and Chairman of the Board - Former Chairman of the Board of Bank Hapoalim, the leading bank in Israel, between 1998 and 2007. Mr. Nehama, along with the late Ted Arison, organized the group of American and Israeli investors who purchased the bank from the Stat
Slide 16: Investment Summary
Investment Summary 1. Diversified base of cash flow generating assets 2. Strong balance sheet and track record of securing non-dilutive financing 3. Focus on small/mid size scale commercial projects with limited capex and operational risks 4. Significant operating leverage as G&A not expected to sig
Slide 17: Contact
Contact Company Investor Relations Dustin Salem Senior Vice President - Western Region MZ Group - MZ North America Direct: 949-259-4998 Mobile: 949-375-4834 dustin.salem@mzgroup.us www.mzgroup.us www.ellomay.com Kalia Weintraub Chief Financial Officer Ellomay Capital LTD. 9 Rothschild Blvd., Tel Avi
Slide 18: Appendix 1: The Global PV Market
Appendix 1: The Global PV Market The cumulative global PV capacity at the end of 2013 was 137 GWp, out of which 80 GWp are in Europe and 18 GWp are in Italy alone* Evolution of global PV cumulative installed capacity 2000-2013 (MW) * Source: EPIA market report 2013
Slide 19: Solar PV Electricity - Europe
Solar PV Electricity - Europe Cumulative Power Production Potential in Europe by 2020 - 12% scenario (TWh produced, GW installed) By 2020, EPIA believes solar photovoltaic electricity can become a mainstream energy source in Europe and cover up to 12% of the electricity demand. This is possible with
Slide 20: PV: The First New Generation Capacity In The European Union In 2012
PV: The First New Generation Capacity In The European Union In 2012 • PV in 2012 was the number-one electricity source in the EU in terms of added installed capacity • With 16.7 GW connected to the grid, PV outscored gas and wind in 2012 * Source: EPIA
Slide 21: The Israeli Electricity Market
The Israeli Electricity Market