Alteo Energy Services Plc Class A · BET:ALTEO
Alteo Energy Services Plc Class A — Alteo — Investor Presentation (February 2018)
28 slides from Alteo Energy Services Plc Class A's investor presentation, February 2018
Slide 1: ALTEO
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Slide 3: Disclaimer
DISCLAIMER This presentation (the "Presentation"), and the information contained therein, is not directed to, or intended for viewing, release, distribution, publication or use by (directly or indirectly, in whole or in part), any person or entity that is a citizen of, or resident or located in, the
Slide 4: Permanent growth propelled by investments
Permanent growth propelled by investments PERMANENT GROWTH PROPELLED BY INVESTMENTS Key investment highlights Leading player in smart energy services High quality and diversified client base Tailor made and unique energy management solutions Best position to capture the huge potential of CAPEX run-u
Slide 5: ALTEO at a glance
ALTEO AT A GLANCE Revenue and EBITDA (EUR th) Increasing profitability and dividend payment Revenues CAGR: 70% EBITDA • 2015: a dividend yield of 2.5% was CAGR: provided by paying out 17% of its net 75% income • 2016: a dividend yield of 2.7% was provided by paying out 32% of its net income2 Heat pr
Slide 6: Energy revolution
ENERGY REVOLUTION WE'VE BEEN SHARING ‘THE FUTURE FOR 10 YEARS. Smart Grids Traditional grids Mechanical Service/ > electricity meter high-tech . Smart Meters Central, large- Fossil Decentralised, oy Xe scale power fuels regenerative | = plants energy generation SMARTHOME Home automation @\a_Teo
Slide 7: The key model: sustainable smart energy
THE KEY MODEL: SUSTAINABLE SMART ENERGY High availability and 24/7 technical assistance Maximise energy savings potential and optimise Proven and reliable technologies existing asset base Integrated energy solution package with a holistic view on the client's energy needs Independency from energy Ut
Slide 8: Leading smart energy services provider
LEADING SMART ENERGY SERVICES PROVIDER Energy Decentralized, renewable electricity production production & Highly efficient gas-fired combined electricity and heat production with flexible Virtual Power electricity upload/download capabilities Plant Virtual Power Plant (VPP) provides electricity res
Slide 9: The only energy company in Hungary that covers the full spectrum
THE ONLY ENERGY COMPANY IN HUNGARY THAT COVERS THE FULL SPECTRUM1 Production & virtual power plant Supply & trading PLOOP Complex services Note: (1) ALTEO management’s oppinion, applies to Hungary only. 9
Slide 10: Energy production – financials and strategy
ENERGY PRODUCTION – FINANCIALS AND STRATEGY Revenues / market based tariff (EUR th)1 Divisional strategy Renewable electricity & heat production CAGR: Market tariff based, decentralized gas fired or 81% renewable electricity and heat production Renewable heat production provides significant growth p
Slide 11: Energy production – operational overview
ENERGY PRODUCTION – OPERATIONAL OVERVIEW Electricity production (MWh) CAGR: 133% Heat production (MWh)1 Capacity breakdown and gross margin by energy type in 20162 CAGR: 53% Note: (1) CAGR based on total produced heat and electricity; (2) Gross margin in the chart demonstrates the energy production
Slide 12: Energy production – Virtual Power Plant (VPP)
ENERGY PRODUCTION – VIRTUAL POWER PLANT (VPP) The VPP aggregates the electrical output from a multitude of power plants and makes this supply available to the Definition of transmission system operator. If requested, the VPP controls the virtual power plant immediate dispatch of the connected plants
Slide 13: Energy services: covering the full spectrum
ENERGY SERVICES: COVERING THE FULL SPECTRUM Divisional strategy Project development Sinergy acquisition contributed to the comprehensive operation ALTEO offers O&M services to third parties as well Engineering, ALTEO is ready to co-invest alongside with existing Repowering project clients to improve
Slide 14: Energy supply & trading
ENERGY SUPPLY & TRADING ALTEO holds an electricity trading license and offers full power Divisional strategy supply & trading services to its customers since 2009 Almost 4,000 end-user delivery points ALTEO holds a natural gas trading license and has Current customer portfolio: industrial power off-
Slide 15: Current growth drivers
CURRENT GROWTH DRIVERS Opportunities Major partners (MOL PetroChemicals, BorsodChem, Heineken) are expected to increase and modernize with existing their capacity with likewise changing and growing energy needs clients Investments at ALTEO Group's existing facilities Expansion and gaining market sha
Slide 16: Appendix
WEVE BEEN SHARING ‘THE FUTURE FOR 1OYEARS
Slide 17: Ownership structure after successful IPO
OWNERSHIP STRUCTURE AFTER SUCCESFUL IPO ALTEO has raised HUF 1.4 bn (€ 4.7m) through IPO in Q4 2016 Current ownership structure1 Rationale for IPO Aim of IPO was to support growth through executing ALTEO’s investment pipeline Of which ~12.5% institutional investor We diversified investor base, incre
Slide 18: Experienced management team
EXPERIENCED MANAGEMENT TEAM Domonkos Kovács Zoltán Bodnár Attila Chikán András Papp Deputy CEO Deputy CEO, CFO CEO Deputy CEO, COO M&A and Capital Markets Director 19 years experience 23 years experience 24 years experience in investment management Joined ALTEO in 2018 Founded ALTEO in 2008 Joined A
Slide 19: Corporate governance
CORPORATE GOVERNANCE Corporate governance Board of Directors ALTEO fully complies with corporate governance practices standard for listed companies and follows the corporate governance recommendations of the BÉT Péter Kaderják Attila Chikán András Papp Domonkos Kovács President CEO Deputy CEO M&A an
Slide 20: ALTEO asset map
ALTEO ASSET MAP Renewable Market based (heating and electricity) Energy Trading and Services 20
Slide 21: Energy production asset overview
ENERGY PRODUCTION ASSET OVERVIEW Renewable power plants Gas fired plants Wind Industrial energy supply and services Jánossomorja 1.8 MW BorsodChem Boiler Plant 125 t/h Ács 2.0 MW Sopron Power Plant 56 MWth / 6 Mwe Pápakovácsi 2.0 MW Győr Power Plants 51 MWth / 3 MWe Törökszentmiklós 1.5 MW MOL Water
Slide 22: Financial performance overview
FINANCIAL PERFORMANCE OVERVIEW Key group financials Comments to the key group financials 1 EUR th 2014 2015 2016 FY FY FY Top line growth was driven by Total revenues 18,985.4 34,525.4 44,783.3 acquisition in electricity generation % growth 208.8% 81.9% 29.7% segment and by organic growth in Direct
Slide 23: Financing structure
FINANCING STRUCTURE Net debt (EUR th)1 and net debt / EBITDA Comments ALTEO finances its activities from two sources: (i) power plants are financed through project financing and (ii) other activities and group operations are financed by senior bonds ALTEO has bond maturities of EUR 8,380 th in 2017
Slide 24: IFRS audited income statement
IFRS AUDITED INCOME STATEMENT EUR th 2014 FY 2015 FY 2016 FY Net sales 18,99 34,53 44 783 Direct costs -15,843 -27,037 - 34 938 Gross profit 3 143 7 488 9 845 Administrative expenses -1 764 -4 469 - 4 071 Marketing expenses -41 -86 - 56 Other income & expenses -316 -1 390 - 956 Operating profit 1 02
Slide 25: IFRS audited balance sheet
IFRS AUDITED BALANCE SHEET EUR th 2014 FY 2015 FY 2016 FY EUR th 2014 FY 2015 FY 2016 FY Fixed assets 19 656 25 262 21 436 Equity 4 851 8 095 15 745 Power plant and relatd equipments 18 005 17 510 16 119 Equity attributable to shareholders 4 851 6 894 15 835 Other equipment 20 71 102 Share capital 5
Slide 26: IFRS audited cash flow statement
IFRS AUDITED CASH FLOW STATEMENT 2014 2015 2016 EUR th FY FY FY Income before taxes -935 4 221 3 299 Interest income / expense 1 372 1 201 1 043 Non-cash items Depreciation & Amortisation 1 309 2 024 1 931 Impairment & provisions & deferred incomes & non-realised FX gain / loss 390 1 695 126 Negativ
Slide 27: Thank you
WE'VE BEEN SHARING THE FUTURE FOR 10 YEARS: THANK YOU WWW/ALTEO.HU
Slide 28: Domonkos Kovács contact details
Domonkos Kovács M&A and Capital Markets Director, Member of the Executive Board Mobile: +36 20 970-9748 E-mail: kovacs.domonkos@alteo.hu