Energy Spa · MIL:ENY
Energy Spa — German Spring Conference 2025
23 slides from Energy Spa's conference presentation, May 12, 2025
Slide 1: German Spring Conference
German Spring Conference Frankfurt, 12th May 2025
Slide 2: Today's Agenda & Speaker
Today’s Agenda & Speaker 03 Energy Group today 07 Strategic Response Initiatives and Looking Forward 04 Recent Key Facts 09 FY 2024 Financial Results 06 Competitive Landscape 15 Q&A and Annex CFO and Board Member • MBA, Degree in Business Management, post-graduate Master in Environmental Management
Slide 3: Energy Group today
Energy Group today ü Energy, conformed as a Group in June 2024, is an Italian leader in the stationary Battery Energy Storage Systems (BESS) sector ü Energy positions itself as an Integrated Manufacturer, developing solutions that combine hardware and software, with a focus on in-house battery produ
Slide 4: 2024 Key Facts
2024 Key Facts Supply of a large-scale storage system Acquisition of Enermore S.r.l., Südtirol (power of 375 kW and a capacity of 980 January company based, focused on DACH kWh) installed in a BMW dealership in markets, operating in BESS installation, Belgium maintenance, design and control May Octo
Slide 5: 2025 Key Facts
2025 Key Facts March Inauguration of the first production line of cobalt- free LFP lithium batteries • Initiative born from the JV Pylon LiFeEU S.r.l. aiming to encourage the production of components on the European territory, in line with European industrial sovereignty strategies and with the Net
Slide 6: Competitive Landscape
Competitive Landscape Saturation phase in Italy and in EMEA due to the entry of new players with cost leadership Residential strategies Promising expansion driven by In Italy the sector is decarbonisation policies both in Italy developing thanks also to the and in EMEA. The goals defined by 5.0 ince
Slide 7: Strategic Response Initiatives
Strategic Response Initiatives New market dynamics require Energy to adapt in a challenging forecast, implementing key initiatives to strengthen Group’s position Vertical Integration Establishing as an Integrated BESS Manufacturer, serving multiple markets and offering a wide range of products and s
Slide 8: Looking Forward
Looking Forward Growth and Development • Revenue increase driven by the ASFINAG contract and focus on the C&I segment • Expansion into DACH and Dutch markets • Gigafactory project for "Made in EU" production and for XL products • Increase in sales expected from data technology services and support n
Slide 9: FY 2024 Financial Results
FY 2024 Financial Results Companies included in the scope of consolidation are: • Energy S.p.A. (hereinafter also “Parent Company”); • the subsidiary Energyonsite S.r.l.; • the subsidiary Energyincloud S.r.l., as well as the company Enerimmo S.r.l. (wholly owned by Energyonsite). The investment in t
Slide 10: 2024 Financials Highlights
2024 Financials Highlights €37.2M -€16.0M -€6.0M €8.1M Revenue EBITDA EBITDA Adj.* Net Financial Debt (-41% vs. FY 2023) (net of inventory write-down of €10M) • The decline stems from lack of Italian fiscal incentives and regulatory uncertainty in the Residential segment • Increase of revenues from
Slide 11: Revenues breakdown
Revenues breakdown Revenues by Geographic Area Revenues by Product Category Revenues by Channel 1% 3% 7% 5% 22% 26% 20% 34% Specialist 14% Distributor 30% VAR 32% Generalist 77% 63% 93% 29% Distributor 81% 31% EPC/Installers 21% FY2023 FY 2024 10% FY2023 FY 2024 Italy EU EXTRA-EU Small&Large (<50 kW
Slide 12: EBITDA
EBITDA 50 €m 40 30 20 -34.2 38.9 10 -10.0 0 -10 -5.3 -16.0 -3.8 -20 -1.5 Revenues Cost of materials Inventories Cost of services Personnel costs Other costs EBITDA (incl. Increases in and Δ write-downs fixed assets for inventories inhouse works & Other revenues) 12
Slide 13: Trade Working Capital and Net Financial Debt focus
Trade Working Capital and Net Financial Debt focus Trade Working Capital Net Financial Debt €m 51.2 8.1 4.6 9.6 6.5 26.6 9.1 6.3 56.4 6.4 (4.7) 24.8 (18.8) -9.9 -4.6 31/12/23 31/12/24 (0.2) 31/12/23 31/12/24 Inventories Trade receivables Trade payables Cash and Cash Equivalents Short term debt Mediu
Slide 14: Cash Bridge Analysis
Cash Bridge Analysis €m 30.0 25.0 9.0 20.0 15.9 15.0 10.0 18.8 10.9 5.0 1.4 5.0 4.7 0.0 Cash End Operating Cash Capex Δ Medium-long Δ Short-term Other Cash End Current 31/12/2023 flow term Debt Debt Period 14
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Slide 16: Annex
Annex
Slide 17: Income Statement
Income Statement €k FY 2024 % FY 2023 % Δ Δ% Consolidated Energy SpA Revenues from sales and services 37.200 100% 63.329 100% - 26.129 -41.3% Increases in fixed assets for inhouse works 1.345 4% 1.395 2% - 0.049 -3.5% Other revenues 0.316 1% 1.175 2% - 0.858 -73.1% Cost of materials - 44.215 -119% -
Slide 18: Balance Sheet
Balance Sheet €k 31/12/24 31/12/23 Δ Δ% Consolidated Energy SpA Intangible fixed assets 6.684 4.772 1.912 40% Tangible fixed assets 19.891 7.294 12.598 173% Financial assets 0.864 1.180 - 0.316 -27% Total fixed assets 27.439 13.246 14.193 107% Inventories 24.777 56.410 - 31.633 -56% Trade receivable
Slide 19: Cash Flow
Cash Flow €k 31/12/24 31/12/23 Consolidated Energy SpA EBIT - 17.715 8.893 Taxes 1.252 - 1.909 D&A 1.719 1.225 Δ in Trade Working Capital 24.526 17.592 Δ in other credits/(other debts), post-employment and other funds - 0.783 - 7.631 Cash Flow from Operating activities 8.999 18.170 Capex - 15.856 -
Slide 20: Go-to-Market
Go-to-Market The Energy Group's sales channels include both generalist distributors of electrical materials and photovoltaic specialists, and the company also works with large European EPCs. The proximity of the company's logistics to the HQs of the main distributors has led the Energy Group to have
Slide 21: Shareholding & Governance
Shareholding & Governance SHAREHOLDER ORDINARY SHARES PAS TOTAL SHARES % OF SHARE CAPITAL Elmagi s.r.l. (company owned by Davide Tinazzi) 10,444,188 949,896 11,394,084 19.69% Freman Holding s.r.l. (company owned by Andrea Taffurelli) 10,452,570 949,896 11,402,466 19.70% Sun Hongwu* 10,270,638 948,00
Slide 22: Glossary
Glossary Payback period The number of years it will take for positive flows from an investment to compensate for outgoings sustained. It indicates the riskiness of a project solely in terms of time. BESS-Battery Energy Storage Systems Photovoltaic panel A group of devices, equipment, management and
Slide 23: Disclaimer
Disclaimer This presentation and the information contained herein (unless otherwise indicated), are provided by Energy S.p.A. (“Energy”) solely for informational purposes. By attending this presentation or otherwise viewing this presentation, or having access to the corresponding information, you ar