Slide 1: The Rooftop Revolution: FY 2024 Results Presentation
The Rooftop Revolution FY 2024 Results Presentation May 5, 2025
Slide 2: Forward looking statements
Forward looking statements This communication contains forward-looking statements related to Holaluz (the “Company”) These data do not represent estimates within the meaning of Commission Delegated Regulation (Eu) No. 2019/979 or No. 2019/980. Such forward-looking statements include, but are not lim
Slide 3: Agenda
Agenda About Us 2024 Review Summary 3
Slide 4: Our commitment to fully decarbonize the world
Our commitment to fully decarbonize the world We are building the largest and most impactful green energy community in Europe, unleashing the full potential of electrifying energy demand by scaling distributed Solar and Storage 4
Slide 5: About us
About us We connect people to green energy through the power of tech and data • Leading the highly critical energy transition, a disrupter and innovator • 14 years as a GreenTech leader in Spain • Connecting green energy producers and customers through our Energy Management technology platform • Lea
Slide 6: Business model
Business model Getting vertically integrated into electricity generation through distributed solar and storage and connecting these distributed producers with end customers through our energy management tech platform creates a strong and sustainable competitive advantage in the sourcing cost of elec
Slide 7: We are sophisticating the market with our unique value proposition
We are sophisticating the market with our unique value proposition combining the best of Solar and Energy Management What the average player can do What Holaluz can do Distributed Generation installations maximizing rooftop potential to share electricity with neighbouring customers Solar self-consum
Slide 8: Holaluz ecosystem enables our differentiated business model
Holaluz ecosystem combining distributed Solar PV and Energy Management enables our differentiated business model Transform every sqm of Connect people to rooftop into green electricity green energy production and storage Energy Management business Solar & Storage business Holaluz sells electricity t
Slide 9: We have the greatest customer value proposition
We have the greatest customer value proposition Customer value proposition includes 70%+ guaranteed savings and an end-to-end customer relationship and manage electricity with a #1 ESG 100% renewable energy subscription-based product Savings Subscription-based We provide the maximum savings We guara
Slide 10: Agenda
Agenda About Us 2024 Review Summary 10
Slide 11: 2024 Overview
2024 Overview Resilient performance despite industry and economic headwinds Resilient performance Achieved positive normalised EBITDA of 3.5 M€ despite industry and economic headwinds Decisive action Ongoing innovation Enhanced leadership team taking decisive Market leading products and customer act
Slide 12: 2024 KPIs
2024 KPIs Financial Operational Brand and ESG 3,5M€ 300,000+ 4.1/5 Normalised EBITDA Total energy contracts Trustpilot score 38% ↓ YoY 15,000+ 40% Normalised operating costs Total solar contracts Women on the team ~4 3x 2.9M+ CLTV/CAC Battery penetration vs. 2023 Tons of CO2e saved* 12 *2010 to 2023
Slide 13: Energy Management
Energy Management • The business has generated positive EBITDA of 0.9 M€ and normalized EBITDA of 14.7 M€ in the year, benefiting from the lower customer support demand from customers in the ‘Tarifa Justa’ subscription product. • Despite 34%* decline in revenue, ‘Tarifa Justa’ expanding the gross ma
Slide 14: Energy Management P&L
Key Points Revenue: Significant decrease in Energy Management P&L • electricity price YoY impacting revenue but not gross profit (2023: av 99 EUR/MWh; 2024: av 73 EUR/MWh (23% reduction)) 2024 2023 % variation • Portfolio: Consolidation of a very strong and robust portfolio since the Key P&L Revenue
Slide 15: Solar and Storage
Solar and Storage • Normalized EBITDA improved by 45%, from –20.3M€ in FY2023 to –11.3M€ in FY2024 despite a 56% reduction in installations over the same period. • Gross margin expansion from larger system sizes and higher battery penetration. Gross margin per installation increased by 54%, rising f
Slide 16: Solar P&L
Solar P&L Key Points Spanish residential solar market continued its contraction in 2024 due to high-interest rates environment and % variation low energy prices, affecting # of 2024 2023 installations executed. Key P&L Revenues 12.2 24.9 -51% figures (€m) However, thanks to a strong focus on Gross p
Slide 17: Consolidated P&L
Key Points • Revenue: Group revenue declined Consolidated P&L by 36% due to the electricity price decline and other headwinds + complex Spanish solar market since 2023. Best unit economics in €M FY24 FY23 % variation history in Solar (higher battery penetration) and in Energy Management (successful
Slide 18: Sustained Positive Normalised EBITDA Performance with Improving Solar Segment
Sustained Positive Normalised EBITDA Performance with Improving Solar Segment Normalized EBITDA, M€ Audited figures 4,3 3,5 24.6 3,9 14.7 9.8 EM 7.0 -5.9 Solar -12.4 -11.3 -20.3 -5,4 H1 2023 FY 2023 H1 2024 FY 2024 18
Slide 19: Consolidated Balance Sheet (1/2)
Total Assets: 110.3M€ Non-current assets: 59.3M€ • 4.7M€ decrease in Intangible Assets Consolidated Balance Sheet (1/2) (R&D at minimum). €M • Long-term financ. invest: 1.6M€: 7M€ reduction coming from the sale of 800 rooftop loans (which generated a 31.12.24 31.12.23 4.1M€ of cash-in) + 0,7M€ reduc
Slide 20: Consolidated Balance Sheet (2/2)
Net equity: -17.2M€ Consolidated Balance Sheet (2/2) • Own funds: -12.8 M€; decrease due to net losses of the year (Net Equity €M of the Parent Company is 34.4M€). 4.8M€ capital increase registered as a part of the Phase I of the 22M€ 31.12.24 31.12.23 Capital Increase transaction with Net equity -1
Slide 21: Net Debt Position
Net Debt: 41.1M€ • 24.3 M€ decrease vs 2023: SEPA Net Debt Position financing cancelled (11.1M€ balance at 31.12.23) + VAT financing €M canceled (2M€) + net balance reduction in MARF Promissory Notes by 12.2M€. • Standstill agreement reached in 31.12.24 31.12.23 Sept’24 with primary financial credit
Slide 22: Debt capacity
Debt capacity • Significant change in the debt Holaluz debt capacity evolution, M€ capacity picture after signing the Restructuring Plan with Financial Debtors in March 2025. Comm. Paper Confirmings SEPA&VAT Financing • VAT financing and SEPA financing Bank loans Overdrafts cancelled in 2024 and not
Slide 23: Financing update Q1 2025
Financing update Q1 2025 • Incorporation of a strategic partner, Icosium Investment, SL with a 22 M€ 2-phases investment to strengthen Holaluz’s growth strategy: 6.5 M€ concluded in March 2025 and 15.5 M€ upon a convertible loan to be capitalized after the GSM (23rd April 2024) and not later than th
Slide 24: ESG Milestones 2024
ESG Milestones 2024 Environment Social Governance ● The company's carbon emission ● Creating the largest energy community ● Consolidation of robust policies and science-based reduction targets along in Europe by connecting people who procedures, including the Ethical Code, with the Decarbonization P
Slide 25: Recognitions
Recognitions In 2018, Holaluz became the first EU energy As a member of the United Nations In January 2023, Holaluz ranked nº1 worldwide in company to join the B Corp movement. By 2022, Global Compact, the company is Sustainalytics’ ESG Risk Ranking for independent the company updated its impact ass
Slide 26: Key Aims for 2025
Key Aims for 2025 AI driven Operating costs optimization Product and innovation Targeting further reduction in operating costs at Develop the first VPP in Spain and continue al levels YoY deploying the 0€ bill for 5 years Tarifa Justa for Solar + Battery customers Customer acquisition Margin and pro
Slide 27: Agenda
Agenda About Us 2024 Review Summary 27
Slide 28: Summary
Summary • Delivered €3.5 million consolidated normalized EBITDA with record profitability per customer despite challenging market conditions • Increased margins through AI-based efficiencies and cost reductions • Secured €22 million strategic investment from Icosium Investment • Successfully impleme
Slide 29: investors@holaluz.com
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