Orron Energy Ab · OMXSTO:ORRON
Orron Energy Ab — Q3 2024 Earnings Presentation
16 slides from Orron Energy Ab's earnings presentation, Nov 6, 2024
Slide 1: Q3 Presentation
Q3 Presentation Daniel Fitzgerald, CEO Espen Hennie, CFO 6 November 2024
Slide 2: This is Orrön Energy
This is Orrön Energy Part of the entrepreneurial of companies ducing Ass ro et P Finland s Pure play renewable energy 370 MW Sweden company operating wind farms UK Diversified across opment Pip Germany el el technologies ev in D 40 GW e France onshore greenfield Organic growth pipeline across the fu
Slide 3: First Nine Months 2024
Orrön Energy First Nine Months 2024 Power generation Tough market conditions First 9 months 620 GWh in Q3 with low Full-year forecast ~900 GWh electricity prices EBITDA (1) Achieved price Added 33 GWh 9 MEUR 35 EUR/MWh annual power generation through acquisition Liquidity headroom On track to reach
Slide 4: Tough Market Conditions in Q3 2024
Orrön Energy Tough Market Conditions in Q3 2024 Average Q3 Nordic electricity prices Forecast electricity demand continues below LCOE for all technologies to increase across Europe LCOE(1) increasing Floating offshore wind Electricity price European electricity demand(2) Coal & Gas fired German spot
Slide 5: Power Generation
Orrön Energy Power Generation 1,000 ~900 Production (GWh) 800 Low winds -50 GWh 620 Year-to-date 2024 620 Voluntary 600 2023 Production curtailments -35 GWh 765 Karskruv GWh 2024 forecast ~900 Based on YTD performance 400 Leikanger Using long-term 251 Long-term forecast 1,000 average wind Sweden con
Slide 6: Projects on Track to Reach Key Milestones
Orrön Energy Projects on Track to Reach Key Milestones Nordics Nordics 1 GW First projects on track to reach Ready-to-Permit milestone in late 2024 Aiming to launch first sales process year- end 2024, completion expected 1H 2025 UK 36 GW Portfolio continues to grow in all countries Europe Germany wh
Slide 7: Financial Highlights: Third Quarter 2024 Results
Orrön Energy Financial Highlights Third Quarter 2024 Results 164 3 Power generation GWh Revenue MEUR Achieved price 18 EUR/MWh EBITDA(1) -4 MEUR Financially Resilient 56 Net debt end Q3 MEUR 170 Debt facility MEUR All numbers proportionate (1) Excluding non-cash items OE00039 fin p01 10.24 7
Slide 8: Delivering in Line with Cost Guidance
Orrön Energy Delivering in Line with Cost Guidance 2024 First 9 Months 2024 Guidance Actuals (Original guidance) Operating expenses 11 MEUR 15-17 MEUR On track G&A expenses(1) 7 MEUR 9 MEUR On track Sudan legal costs (2) 5 MEUR 7 MEUR Original guidance reduced by 1 MEUR (8 MEUR) Capital expenditure
Slide 9: 2024 Key Financial Metrics
Orrön Energy 2024 Key Financial Metrics Q3 2023 Q4 Q1 2024 Q2 Q3 Power generation (GWh) 13.5 161 226 274 182 164 Achieved price (EUR/MWh) 23 43 49 31 18 9.6 7.5 5.6 5.9 MEUR 3.6 Including 3.9 2.9 Leikanger gain 2.0 1.0 Excluding Leikanger gain -3.4 -2.9 -3.9 -4.0 -3.9 -4.6 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2
Slide 10: Achieved Price Third Quarter 2024
Orrön Energy Achieved Price Third Quarter 2024 2 26 20 18 10 EUR/MWh Average Average Guarantees Capture price Average system price regional of origin and discount achieved price spot price(1) legacy hedging impact(2) (1) Based on actual power generation (2) Existing hedges linked to acquisitions OE0
Slide 11: Cash Flow and Net Debt
Orrön Energy Cash Flow and Net Debt Third Quarter 2024 Liquidity 150 -40 Opening net debt(1) 102 116 30 Jun 2024 46 MEUR -50 100 -4.6 -0.4 Acquisitions Closing MEUR 0.9 -4.6 -0.1 net debt(1) MEUR 30 Sep 2024 -60 56 MEUR 50 -70 14 CFFO Changes Cash flow Others (2) excluding in working from investing
Slide 12: 2024 Cash Flow Outlook
Orrön Energy 2024 Cash Flow Outlook Excluding 11 MEUR gain from Assuming 2024 power Leikanger divestment generation of 900 GWh 36 33 30 Value upside and optionality MEUR from greenfield pipeline Achieved price Including Sudan Q4 2024 legal costs 11 30 EUR/MWh 8 40 EUR/MWh 4 6 5 50 EUR/MWh 1 3 -1 0 -
Slide 13: Creating value through the Energy Transition
Creating value through the Energy Transition Long-term cash flow from Financially resilient with over operating wind farms and 100 MEUR liquidity headroom greenfield project sales Organic growth platforms Large-scale projects on track delivering across 5 countries for early monetisation OE00039 intr
Slide 14: Q&A
Q &A OE00033 intro p10 04.24 14
Slide 15: Disclaimer
Orrön Energy Disclaimer Forward-Looking Statements Statements in this presentation relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections are forward-looking statements. These statements may generally, but not always, be
Slide 16: Creating value through the energy transition
Creating value through the energy transition OE00023 p20 08.23 16