Energy Spa · MIL:ENY
Energy Spa — Non-Deal Roadshow (June 2024)
33 slides from Energy Spa's roadshow presentation, Jun 13, 2024
Slide 1: London Roadshow 13th June 2024
London Roadshow 13th June 2024
Slide 2: Today's Speakers
Davide Tinazzi Today’s Co-Founder & CEO • PhD in Engineering, Master in Project and Speakers Innovation Management • Former Project Manager in the field of nanotechnology • Served as COO in former Mitsubishi Electric Klimat Transportation Systems Daniele Manfroi CFO • MBA, Degree in Business Managem
Slide 3: Contents
Contents Energy At A Glance Introduction to the company and current global positioning FY 2023 Financial Results Annex 3
Slide 4: Powering the energy of the future.
Energy was founded in 2013 with a dream: make clean energy accessible to everyone, and at any time of day. We develop systems that store energy Powering the from every sources, and combined with our advanced software, we empower everyone to store, monitor, and manage energy of the renewable energy l
Slide 5: Snapshot
Snapshot Our zeroCO2 Product Range Our Services From Residential to Commercial to Grid-scale • Project design and management • Energy Management Systems integration • Predictive data analysis (down to single cell) • Arbitrage and trading • Weather forecast integration • Services to the grid 1000 MW
Slide 6: Sustaining Growth: Global Megatrend
Sustaining Growth: Global Megatrend BESS a key component of most countries’ pathway to net-zero greenhouse gas emissions, driven by regulation and awareness of the urgency for a sustainable energy transition. GLOBAL ITALY Residential Solar + BESS Pay-back 7-8 years, thanks to 50% deductibility Energ
Slide 7: Strategic Positioning
Strategic Positioning Energy insourced some strategic hardware and software manufacturing activities, thus becoming a Full System Integrator (BESS integrated manufacturer) and controlling a significant part of ESS value chain. Investing in acquisitions for vertical integration and digitalization rem
Slide 8: Northern Italy's First Gigafactory
Northern Italy’s First Gigafactory Construction started in 2023 on 11,000 m2 site for cobalt-free LFP Completion scheduled for Q1 2026 Grant secured for €7.15m Out of €40m total investment required First battery due to roll off in 2024 Security of supply from our JV with Pylon Technologies - worldwi
Slide 9: Go-to-Market
Go-to-Market Energy’s sales network consists of both electrical goods distributors and photovoltaic specialists. Energy also works with large European EPCs. Energy does not sell directly to the final consumer. Distributors Italian and EU Small&Large ESS • Specialists • Generalists Installers (zeroCO
Slide 10: Financials: Revenues and EBITDA
Financials Revenues EBITDA 140.0 35.0 120.0 Extraordinary 30.0 market conditions, 100.0 stemming from 25.0 Superbonus subsidy 80.0 20.0 60.0 126.5 15.0 32.2 40.0 10.0 63.3 51.5 20.0 5.0 2.1 10.4 10.1 12.5 20.3 1.2 0.0 0.0 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 EU & Extra-EU Revenues XL Sy
Slide 11: Recent Key Facts
Recent Key Facts For Energy, the months of 2023 and the initial months of 2024 have been important to lay the foundations for future growth and outline strategic trajectories: a greater degree of internal product assembly, a greater offer of digital services to customers and constant attention towar
Slide 12: Strategic Objectives and Achievements
Strategic Objectives and Achievements Objectives stated at the time of listing: Achievements: → Insourcing of battery assembly → Assembly now totally In-house → Acquire cloud software system management company → Acquired Cloud Computing srl → Acquisition of a metal carpentry company → Remains in our
Slide 13: ESG Reporting
ESG Reporting During 2023 Energy has voluntarily started a process aimed at integrating logics and principles relating to sustainability within the business according to the ESG areas. In particular, the Company has completed the first materiality analysis. The results obtained made it possible to i
Slide 14: FY 2023 Financial Results
FY 2023 Financial Results © Pelgu
Slide 15: A tough macro and sector context in 2023
The FY 2023 represented a slowdown time for the Company, compared to the positive and consistent growth that has characterized the last years. That external context was amplified by the sudden and unexpected stop to tax credit transfer mechanism imposed by the Italian Government in A tough February.
Slide 16: FY 2023 Highlights
FY 2023 Highlights Revenues EBITDA EBIT 63.3 M 10.1 M 8.9 M -50% vs 126.5 M -69% vs 32.2 M -72% vs 31.6 M FY 2022 FY 2022 FY 2022 16% 14% Margin Margin Net Income 5.6 M Net Financial Position -75% vs 22.6 M (Cash) FY 2022 9% -0.2 M Values in €M Margin vs 4.6 M (Debt) H1 2023 16
Slide 17: Revenues breakdown
Revenues breakdown Revenues remained at a still significant level in the Residential sector and in the Italian market, but with greater exposure abroad (particularly in 2H 2023). Revenues by Product Revenues by Geographic Area Revenues by Channel Category VAR* (32%) and General Distribution (31%) re
Slide 18: Net Financial Position
Net Financial Position The Net Financial Position is improving compared to FY 2022 and settles in opposite territory, i.e. equal to € -168,424. x Net Debt / EBITDA 1.0x 1.7x 0.3x 0.3x nm -0.2 M (cash) NFP FY 2023 (vs 8.2 M debt in FY 2022) (unadited) (unadited) Values in €M 18
Slide 19: Cash Bridge Analysis
Cash Bridge Analysis +2.9 Net Cash Flow Values in €M 19
Slide 20: Questions & Answers Time
Questions & Answers Time © GeIdu
Slide 21: Annex
Annex S Eelgl’
Slide 22: Acquisition of Cloud Computing
Acquisition of Cloud Computing In July 2023, through the newly established innovative start-up EnergyInCloud S.r.l., Energy completed the acquisition of Cloud Computing S.r.l.’s line of business, a company headquartered in Trento, engaged since 2016 in the development of software with IoT applicatio
Slide 23: zeroCO2 Extra Large Solutions in Action
zeroCO2 Extra Large Solutions in Action More than 20 case studies available on our reference book upon request Showcasing two zeroCO2 XL BESS Applications in Agriculture and Industry 1.000 kW 1.200 kWh Customized for 240 kW 1.125 kWh Optimized energy Power Capacity energy trading on Power Capacity s
Slide 24: Income Statement
Income Statement (Euro thousands) 31/12/2023 % 31/12/2022 % cge. change % Revenues from sales and 63,329 100.0% 126,450 100.0% (63,122) (49.9%) services Capitalisation of internal works 1,395 2.2% 441 0.3% 953 216.2% Other revenues 1,175 1.9% 375 0.3% 800 213.4% Material costs 46,928 74.1% 87,090 68
Slide 25: Balance Sheet
Balance Sheet (Euro thousands) 31/12/2023 31/12/2022 cge. change % Intangible assets 4,772 4,315 457 10.6% Property, plant and equipment 7,294 1,608 5,685 353.5% Financial assets 1,180 156 1,024 656.7% Total fixed assets 13,246 6,079 7,167 117.9% Inventories 56,410 61,337 (4,927) (8.0%) Trade receiv
Slide 26: Cash Flow
Cash Flow cge. (Euro thousands) 31/12/2023 31/12/2022 cge. % Operating Result 8,893 31,575 (22,682) (72%) Income taxes (1,909) (8,381) 6,472 (77%) Amortisation, depreciation and write-downs 1,225 599 626 105% Change in commercial working capital 17,592 (54,097) 71,690 (133%) Change in other receivab
Slide 27: 10+ Years of Growth and Success
10+ Years of Growth and Success Established in 2013, Energy is an advanced system integrator of Energy Storage Systems (ESS). Since inception, Energy has grown under the leadership of Davide Tinazzi to become the reference player in the Italian market for ESS solutions, in partnership with primary g
Slide 28: Governance And Shareholding
Governance And Shareholding (latest update of 21 May, 2024) th Energy was founded in 2013 by Davide Tinazzi and Andrea Taffurelli, with the financial support of the Ghirlanda family (through their company Euroguarco) and Mrs. Hongwu Sun. SHAREHOLDER ORDINARY SHARES PAS TOTAL SHARES % OF SHARE CAPITA
Slide 29: 2022–2024 Stock Option Plan
2022–2024 Stock Option Plan for directors, managers and employees • On June 2022, the Assembly approved the SOP, granting the Board of Directors all powers for the implementation: →The Plan’s beneficiaries are key managers (incl. Directors, Executives and employees), based on their contribution to t
Slide 30: Next Corporate Events
Next 26.09 BoD to approve the HY Financial Report as at 30th June 2024 Corporate Events 30
Slide 31: Glossary
• Payback period Glossary The number of years it will take for positive flows from an investment to compensate for outgoings sustained. It indicates the riskiness of a project solely in terms of time. • Photovoltaic panel • BESS-Battery Energy Storage Systems A device consisting of a photovoltaic mo
Slide 32: Disclaimer
This presentation and the information contained herein (unless otherwise indicated), are provided by Energy S.p.A. (“Energy”) Disclaimer solely for informational purposes. By attending this presentation or otherwise viewing this presentation, or having access to the corresponding information, you ar
Slide 33: Energy S.p.A. energyspa.com
Energy S.p.A. Registered office : Piazza Manifattura, 1 - 38068 Rovereto TN - Italy Operational headquarters : Via Zona Industriale, 10 - 35020 Sant'Angelo di Piove di Sacco PD - Italy For investor relations refer to investor@energysynt.com energyspa.com 33