Doral Group Renewable Energy Resources Ltd · TASE:DORL
Doral Group Renewable Energy Resources — Q3 2022 Earnings Presentation
26 slides from Doral Group Renewable Energy Resources's earnings presentation, Jun 1, 2023
Slide 1: Leading the Renewable Energy Market in Israel
Leading the Renewable Energy Market in Israel Analyst Presentation Q3/2022 Company's facility Kfar Warburg
Slide 2: Legal Disclaimer
This presentation of Doral Group Renewable Energy Resources Ltd. industry-specific and other developments, as well as on the execution of (hereinafter - the “Company”) was prepared as a general presentation Company’s plans on the dates projected by the Company, and on the about the Company’s activit
Slide 3: Doral Energy Group - Entrepreneurship, Technology and Innovation
Doral Energy Group - Entrepreneurship, Technology and Innovation Israel USA Europe The largest portfolio Projects under Projects in Italy, Romania, under construction & construction & Poland and Denmark with a development in Israel development among the capacity of approx. 2.1 GWp4 with a capacity o
Slide 4: Major Events - Q3
Major Events - Q3 1. Significant progress in projects’ construction in various markets Approx. 1,290MWp solar + 1,300MWh storage under construction and in pre-construction phases 2. Securing the capital required for the construction of the mature backlog and continued growth in the United States in
Slide 5: 16 GWp portfolio
Overall share Company's share 12,468 5,881 Consolidated portfolio Mature1 879 2,880 546 (MWp) 1,280 Total capacity of approx. 1,321 16 GWp 4, 5 4, 5 7.7 GWp 1,293 Total storage capacity of approx. 10 GWh 4, 5 266 5 GWh Under Advanced Tenders /PPAs Under Connected2 development development constructio
Slide 6: Current Forecast Results
Over NIS 1.2 billion in revenue run rate* from projects from 2024 Current Revenues EBITDA FFO Forecast (NIS million) 1,210 (NIS million) (NIS million) Results (585) From 986 (476) 652 772 (333) Mature (383) 627 454 Projects1, 5, 11 (311) (237) 258 212 166 (126) (103) 83 (81) 114 100 (52) (46) (38) 2
Slide 7: Israel
Israel Company's system in Kfar Analyst Presentation Q3/2022 7 Menachem
Slide 8: Strengths in the Israeli Market
Access to Land Strengths Approx. 230 partnerships with Kibbutzim, Moshavim and cooperatives in the More than 530 income-generating facilities across the country, Israeli which the Company itself initiated, developed and built Holit PV + storage facility market Storage Leaders Approx. 1,300 MWh in st
Slide 9: Israel - Construction & Connection
Connected5,10 Israel - 987 MWp Construction & Connected2 1,834 MWh 1,834 MWh Connection 250 MWp 24 MWh Momentum 2022 2024 Projected full-year results 5,6,11 557 (NIS million) 454 156 132 EBITDA Income הכנסות EBITDA Income הכנסות 9 Analyst Presentation Q3/2022 2022 2024
Slide 10: Profitability Improvement of PV + Storage Projects in Israel
Profitability Improvement of PV + Storage Projects in Israel5,6,11 2Q data 3Q data A mix combining sale to the Israel Electric Capacity 300 MWac 300 MWac Corporation and sale in Tender 1 Tender 1 The Company the free market Tender 2 Tender 2 Regulations estimates that market Market Facilities pl
Slide 11: The Largest Green Energy Supplier in Israel
The Largest Consumers Electricity Supplier Green Electricity Generation Green Industrial, commercial, and households Energy Supplier in Israel Competitive advantages: Control across the entire value chain - a supplier that also generates electricity Sale of green electricity to consumers during on-p
Slide 12: Doral LLC
LLC 12 Analyst Presentation Q3/2022
Slide 13: The Electricity Market in the US
The Key Effects of the IRA Legislation - Inflation Reduction Act Electricity • Tax benefit of 30%-50% until Market in • 2032 (PTC/ITC) Expected decrease in equity US solar capacity forecast1 The US 5, 12 requirements and an increase in projects’ profitability 80 60 GW • Long-term stability and 40 20
Slide 14: Effects of the IRA Legislation on Doral LLC
4, 5 Effects of the IRA Legislation on Doral LLC 30% tax benefit (ITC) for the forthcoming 40% ITC for large scale projects decade In the opinion of Doral LLC, the following projects In the opinion of the Company, all projects may receive a further tax benefit of 10% (40% in that will be built by Do
Slide 15: Doral LLC's Growth Strategy
DoralLLC’s Growth Strategy 5, 10, 11 Projects under ~840 MWp ~2,000 MWp Income- construction and generating pre-construction projects phases Annual projection from 2,000 MWp in income-generating projects Doral LLC Doral LLC Current has secured Financial funding of Tax Equity the required NIS 620 mil
Slide 16: Activity in the Leading and Most Liquid and Tradable Power Grids
Activity in the Leading and Most Liquid and Tradable Power Grids Total ISO-NE Projects 600 MWh Capacity NYISO 1,600 MWh Approx. MISO 12.3GWp 4, 10 4,232 MWp PJM 175 MW Total Storage 2,882 MWp 240 MWh Capacity SPP 4,100 MWp Approx. 3,900 MWh 6.94GWh 4, 10 SERC 200 MWp ERCOT 756 MWp 600 MWh 16 Analyst
Slide 17: Europe
Europe 17 Company's systems in Poland Analyst Presentation Q3/2022
Slide 18: Europe - Projects' Capacity
Denmark 400 MWp Europe - Projects’ Capacity Poland 523 MWp Approx 2.1GWp . 4, 10 Romania 677 MWp Italy 484 MWp 18 Analyst Presentation Q3/2022
Slide 19: Europe
Europe4,5,12 The caps placed in Europe on electricity prices for 2023 will not have an effect on the Company’s revenues ready to connect/ under Under Europe portfolio construction/ pre- Advanced development development construction Technology Total capacity 98 MWp 528 MWp 100 MW 1,357 MWp Total proj
Slide 20: Doral-Tech portfolio investments
Green hydrogen Circular economy Doral-Tech portfolio investments Energy storage and wireless WASTE 2 ENERGY charging IPO XPRIZE Winner Winner of Bloomberg NEF's Pioneer Award 20 20 Analyst Presentation Q3/2022
Slide 21: Doral-Tech key events in portfolio companies
Completion of 2 new Doral-Tech capital raising rounds at the total amount of key events USD 300M in portfolio Doral-Tech won a prestigious grant of USD companies 480M from the US Ministry of Energy, for promotion of the batteries industry and turning batteries waste to active materials Launch of a f
Slide 22: Key Financials
Cash and cash equivalents Equity attributed to owners as of September 30, 2022* as of September 30, 2022 NIS 550 million NIS 889 million Key + 266 94 Financials 3, 5, 6 63% 66 + 49% + Concurrently with the 65% 63 163 promotion and construction of its major flagship projects, the 40 Company continues
Slide 23: Key Financials
Key Financials Key Financial Indicators from Doral’s Consolidated Statements (in NIS thousand)3 September 30, 2022 September 30, 2021 December 31, 2021 Cash and cash equivalents 549,733 481,035 601,466 Other current assets 256,705 186,018 285,501 Non-current assets 1,750,619 708,471 769,720 Current
Slide 24: Key Financials
Key Financials Project data Key data of consolidated statements of income or loss and other comprehensive income (NIS thousand)3 As of September 30, 2022 (in NIS million)5,6 IFRS Non-GAAP 1-9/22 1-9/21 7-9/22 7-9/21 2021 Commercially operating and Plus construction, Company's Revenues 66,068 40,108
Slide 25: Comments
1 ”Mature” - projects under commercial operation, ready for connection, under continuation of Covid-19 and the restrictions that were imposed (or will be construction or pre-construction and/or after winning tenders, or signing PPAs, imposed) to it, or the materialization of any of the risk factors
Slide 26: Renewable Energy Driven by People
Renewable Energy Driven by People ISRAEL USA EUROPE DORAL TECH EI ENVIRONMENTAL INFRASTRUCTURES michal@doral-energy.com | www.doral-energy.com
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