Slide 1: FY 2021 Results – Towards a Cleaner Future, Together
FY 2021 RESULTS TOWARDS A CLEANER FUTURE, TOGETHER INNOVATEC GROUP 29 march 2022
Slide 2: Today's Speakers
Raffaele Vanni Elio Catania Roberto Maggio Marco Mazzarese Head of Investor Chairman CEO CFO Relations TODAY’S SPEAKERS 2
Slide 3: FY 2021 Results – Agenda
FY 2021 RESULTS INNOVATEC GROUP CONSOLIDATED HIGHLIGHTS ENVIRONMENT & CIRCULAR ECONOMY ENERGY EFFICIENCY ADDITIONAL FEATURES
Slide 4: Innovatec Group – Who We Are
INNOVATEC GROUP WHO WE ARE CLEANTECH INDUSTRY INTEGRATION ENVIRONMENT & CIRCULAR ECONOMY INNOVATION & CONSULTANCY SERVICES EE & RENEWABLES Collection Energy efficiency EPC TRADITIONAL Selection B2B PV plants ENVIRONMENTAL SERVICES Recovery of Materials Smart vertical technologies High level advisory
Slide 5: FY21 at a Glance
REVENUES (€M) 238 FY21 AT A GLANCE + 47% 161 145 + 70% 85 Fixed Assets and FTEs FY20 FY21 PF20 * PF21* * PF figures include COBAT results 74M€ + 30% 57M€ 31 33 + 83% + 92% 21,3% Tangible Intangible Tangible Intangible 18,9% 13,8% 18 16 259 208 +51 people 54 11,1% 25 En Efficiency 183 Env & Circ Econ
Slide 6: FY21 Key Highlights
FY21 KEY HIGHLIGHTS FY21 business operations confirmed our ability to execute our growth strategy thanks to speed, cost efficiencies and timely M&As Energy Efficiency has demonstrated the ability of profiting from national legislation by building a nation Rev. wide partnerships’ network dedicated to
Slide 7: FY21 P&L Key Figures
FY21 P&L KEY FIGURES +70% on Revenues Consolidated revenues benefitted from a solid ,000 Euro FY21 FY20 PF Δ Δ% 1 performance displayed by Energy Efficiency thanks to and from continued Core Revenues 136.868 75.254 61.613 82% Change in inventories 3.069 537 2.532 472% improvements in the core enviro
Slide 8: FY21 P&L + COBAT
FY21 P&L + COBAT KEY FIGURES REVENUES €93 M 1 ,000 Euro FY21 FY20 PF Δ Δ% Cobat acquisition is proving to have been made on a timely manner, bolstering +€17M (+22%) in 1 Total Revenues 237.778 161.592 76.186 47% revenues during FY21 €238 M (pro-forma) 2 EBITDA Margin 32.901 14% 17.949 11% 14.953 3%
Slide 9: FY21 Balance Sheet Key Figures
FY21 BS KEY FIGURES €8.7 M SOLID CAPEX 1 During FY21 the Group deployed its Capex plan by continuing to invest in its environmental ,000 Euro FY21 FY20 Δ Δ% operations, mainly treatment plants and landfills €77.5 M FIXED ASSETS Intangible Assets 42.871 29.564 13.306 45% Tangible Assets 30.894 27.358
Slide 10: FY21 Cumulated Cash Flow
CASH FLOW FY21 CUMULATED CASH FLOW (€27.1M) Capex + M&A +€9.9M FCF Solid cash from Operations During FY21 Innovatec generated €27.4M cash from operations, both BU contributing to the result A clear growth path The group invested its cash in environmental Capex (€7.3M) and in expansive M&As (Cobat, C
Slide 11: Environment & Circular Economy
FY 2021 RESULTS ENVIRONMENT & CIRCULAR ECONOMY CONSOLIDATED HIGHLIGHTS ENVIRONMENT & CIRCULAR ECONOMY ENERGY EFFICIENCY ADDITIONAL FEATURES
Slide 12: FY21 at a Glance – Environment & Circular Economy
REVENUES (€M) FY21 AT A GLANCE + 16% 170 146 + 10% 76.7 FY21 results 69.5 6 treatment plants under management (including SEA) >600kton waste managed (including COBAT) FY20 FY21 PF20 * PF21* >100 fleet vehicles under management * PF figures include COBAT results >60 collection and transfer hubs natio
Slide 13: Main Environmental Features
FY21 MAIN ENV. FEATURES Env. & Circ Economy BU has strengthened its strategical positioning by steadily increasing its revenue base through key client acquisition and continued cost efficiency resulting in higher margins Collection business managed by has seen its National customer base expanded thr
Slide 14: FY21 P&L – Environment & Circular Economy
FY21 P&L KEY FIGURES +10% on Revenues Overall revenues increased +€7 M during FY21 FY21 FY20 PF Δ Δ% 1 thanks to reinforced collection activities brought by improved commercial effort and expanded Core Revenues 73.733 67.375 6.359 9% Change in inventories 0 0 0 - Vescovo production 1 Increase in int
Slide 15: FY21 P&L – Cobat
FY21 P&L KEY FIGURES REVENUES €93 M 1 ,000 Euro FY21 FY20 PF Δ Δ% During FY21 Cobat increased its operation in every business under management (especially Core Revenues 83.228 62.459 20.769 33% Change in inventories 0 0 0 - batteries), contributing sharply to Group’s 1 Increase in internal fixed ass
Slide 16: Energy Efficiency
FY 2021 RESULTS ENERGY EFFICIENCY CONSOLIDATED HIGHLIGHTS ENVIRONMENT & CIRCULAR ECONOMY ENERGY EFFICIENCY ADDITIONAL FEATURES
Slide 17: FY21 at a Glance – Energy Efficiency
REVENUES (€M) FY21 AT A GLANCE 67.4 + 332% FY21 results 15.6 >1,100 contracts signed* >650 open construction sites FY20 FY21 >€60 M revenues FY21 >€172 M contract value* >€140 M additional prospects* 13.0 >40 FTE employed FTEs 15,4% 19,4% + 441% 54 Innovatec Power Innovatec 2.4 25 50 FY20 FY21 18 EB
Slide 18: Main Energy Efficiency Features
FY21 MAIN EN. EFF. FEATURES Energy Efficiency BU is the rising star of FY21 results. Since its launch, hasn’t stopped breaking new records in terms of revenues and margins, contributing largely to the group’s increase in economic results Revenues granted by exceeded every expectation for FY21, nonet
Slide 19: FY21 P&L – Energy Efficiency
FY21 P&L KEY FIGURES +332% on Revenues FY21 Energy Efficiency results are in no mean ,000 Euro FY21 FY20 PF Δ Δ% 1 comparable to FY20; project completely transformed the BU’s shape towards a Core Revenues 63.065 7.880 55.185 700% Change in inventories 3.069 537 2.532 472% higher level of volumes and
Slide 20: Additional Features
FY 2021 RESULTS INNOVATEC GROUP CONSOLIDATED HIGHLIGHTS ENVIRONMENT & CIRCULAR ECONOMY ENERGY EFFICIENCY ADDITIONAL FEATURES
Slide 21: Main Growth Drivers
CAGR: 22% REVENUES (€M) ‘21-’24 405 MAIN GROWTH DRIVERS 161 222 Cumulative CAPEX and Recruitments (2022-2024) 2020 PF* 2021 PF * 2024 M&A CAPEX + M&A • 2020 and 2021 Revenues, EBITDA and EBIT (‘21-‘24) CAGR: 22% 12 include COBAT financial results Investing in capex and in vertical (‘21-‘24) CAGR: 58