Photon Energy NV · GPW:PEN
Photon Energy NV — H1 2023 Earnings Presentation
23 slides from Photon Energy NV's earnings presentation, Aug 17, 2023
Slide 1: H1 / Q2 2023 Results Conference
H1 / Q2 2023 Results Conference Georg Hotar, CEO and interim CFO Michael Gartner, CTO Photon Energy N.V. 17 August 2023 Leeton, Australia (14.6 MWp)
Slide 2: Disclaimer
H1 and Q2 2023 Results Disclaimer This presentation is for information purposes only and may not be copied in whole or in part for any purpose, or forwarded to third parties or published. This presentation includes written material or slides for a presentation on Photon Energy N.V. (“the Company") a
Slide 3: Photon Energy Group at a Glance
Photon Energy Group at a Glance Business Developments in H1 2023 H1 / Q2 2023 Financial Results Outlook 2023 Q&As Lord Howe Island, Australia (1.3 MWp / 3.7 MWh)
Slide 4: Photon Energy Group at a Glance
Photon Energy Group at a Glance Business Developments in H1 2023 H1 / Q2 2023 Financial Results Outlook 2023 Q&As Slavkov, Czech Republic (1.2 MWp)
Slide 5: About Us
H1 and Q2 2023 Results About Us We are dedicated to ensuring that everyone has access to clean energy and water. Photon Energy Group Founded in Headquartered in 330+ Active in Shares traded 3 x BUY Sustainability 2008 Amsterdam Employees 10+ countries in PL, CZ and DE PT: EUR 4.04 - 4.60 Rating* LER
Slide 6: Our Global Presence
H1 and Q2 2023 Results Our Global Presence +30.3 MWp under construction Focus on Europe and Australia Project development ► Project pipeline with a combined capacity of 1.2+ GWp ► Focus on Hungary, Poland, Romania and Australia Electricity generation assets of 113.1 MWp ► 11 proprietary power plants
Slide 7: Business Developments in H1 2023
Photon Energy Group at a Glance Business Developments in H1 2023 H1 / Q2 2023 Financial Results Outlook 2023 Q&As Aiud, Romania (4.7 MWp)
Slide 8: Highlights H1 2023
Highlights H1 2023 ► Generation output of 65.5 GWh, -0.9% lower YOY and -15.6% Teius compared to expectations, due to unfavourable weather 4.7 MWp conditions and delays in the comissioning process. ► Commissioning of a 5.7 MWp in Q1 and 15.5 MWp in Q2 bringing the total generation assets to 113.1 MW
Slide 9: Generation Results
H1 and Q2 2023 Results Generation Results Realized average revenue (EUR/MWh) Market exposure in H1 2023 Generation Results Below Expectations per country, in H1 2023 Realized Revenue Country Revenue model ► 65.5 GWh of electricity (-0.9% YoY) generated by our per MWh 5.6 MWp AU 0.1 MWp Czech Republi
Slide 10: Generation Assets
H1 and Q2 2023 Results Generation Assets Continued Progress on Asset Development Proprietary portfolio, cumulated (MWp) 120 113.1 MWp ► 21.2 MWp added to the proprietary portfolio in H1 2023 with 16.2 100 90.5 MWp 91.9 MWp additional 10.3 MWp completed, to be comissioned in Q3 16.2 80 +1.4 +21.2 202
Slide 11: PFAS Remediation – Small Steps Towards Big Opportunity
H1 and Q2 2023 Results PFAS Remediation – Small Steps Towards Big Opportunity Nano-remediation is our answer to the global problem of PFAS contamination in ground water. PFAS – the asbestos of the 21st century. Our Nano-remediation solution Per- and polyfluorinated substances (PFAS) – group of chemi
Slide 12: H1 / Q2 2023 Financial Results
Photon Energy Group at a Glance Business Developments in H1 2023 H1 / Q2 2023 Financial Results Outlook 2023 Q&As Siria, Romania (5.7 MWp)
Slide 13: H1 2023 Financial Results
H1 and Q2 2023 Results H1 2023 Financial Results Income Statement In thousand EUR Q2 2023 Q2 2022 YoY change H1 2023 H1 2022 YoY change Total revenues 20,951 23,229 -9.8% 40,231 32,367 +24.3% of which from electricity generation 7,194 10,963 -34.4% 11,344 15,913 -28.7% other revenues 13,757 12,266 +
Slide 14: H1 2023 Balance Sheet
H1 and Q2 2023 Results H1 2023 Balance Sheet Assets Total assets EUR 300,000 EUR 277.5 M Total assets +9.3% 275,000 253.8 M 19.7 M +29.1% Balance Sheet 250,000 225,000 EUR 21.4 M 48.1 M 196.6 M 43.2 M 200,000 ► Increase of Fixed assets: resulting from the addition of the power 175,000 39.4 M 150,000
Slide 15: H1 2023 Cash Flow
H1 and Q2 2023 Results H1 2023 Cash Flow Cash Flow Development ► Negative operating cash flow driven by negative financial result and changes in the net working capital (e.g. increased inventories and In thousand EUR H1 2023 H1 2022 activities connected to Lerta). Operating cash flow -9,299 -6,696 ►
Slide 16: Outlook 2023
Photon Energy Group at a Glance Business Developments in H1 2023 H1 / Q2 2023 Financial Results Outlook 2023 Q&As Sydney, Australia (100 kWp)
Slide 17: Photon Energy: Outlook 2023
H1 and Q2 2023 Results Photon Energy: Outlook 2023 Revised Guidance for 2023 In thousand EUR Revised Guidance 2023 120,000 Total revenues ► Revenues revised from EUR 150 million down to EUR 110.0 million, +15.6% YOY 110,000 +15.6% compared to 2022 revenues. 100,000 95,136 ► EBITDA revised from EUR 2
Slide 18: Q&A
Q&A
Slide 19: Thank you for joining us today!
Thank you for joining us today!
Slide 20: Expansion of Photon Energy’s Business Model
H1 and Q2 2023 Results Expansion of Photon Energy’s Business Model Photon Energy’s Solar Business Services Lerta’s Grid and Customer Services Project Energy Development Technology O&M Off-take Energy Supply Solutions Engineering Investments Trading & VPP Demand Response The fusion of physical & digi
Slide 21: Business Model: Solar Services
H1 and Q2 2023 Results Business Model: Solar Services Our services cover the entire Project Development lifecycle of photovoltaic systems. We develop projects in-house and acquire them at all stages of development. Operations and Maintenance Engineering (EPC) We provide a full range of O&M We design
Slide 22: Business Model: Water Services
H1 and Q2 2023 Results Business Model: Water Services Our comprehensive services and Treatment solutions help to make clean water We deliver treatment solutions including potable and accessible to everyone. wastewater treatment, hazardous liquid waste and industrial water treatment. Remediation Well
Slide 23: GREEN EUR Bond 2021/27
H1 and Q2 2023 Results GREEN EUR Bond 2021/27 Bond GREEN EUR Bond 2021/2027 Volume EUR 80.0 million Coupon 6.50% p.a., quarterly payment Initial offering 23 November 2021 ► IMUG | rating – second party opinion, Ratings/Awards ► KFM Barometer 4 of 5 stars ► Best Issuer Green SME Bonds 2021 Segment Se