Sunflower Sustainable Investments Ltd · TASE:SNFL

Sunflower Sustainable Investments — Investor Presentation (August 2013)

30 slides from Sunflower Sustainable Investments's investor presentation, August 2013

  1. Slide 1: Sunflower Sustainable Investments Ltd. Company Presentation – August 2013

    Sunflower Sustainable Investments Ltd. Company Presentation – August 2013 1

  2. Slide 2: Business Card

    Business Card  The Company p y operates p in the Renewable Energy gy market  The Company holds projects in the renewable sector of approx. 60 MW in Italy, Spain, Poland and Israel, out of which 49 MW are connected d to the h electricity l i i grid id (*)  The Company’s business model is to invest

  3. Slide 3: Company Holdings Structure

    Company Holdings Structure Roni Biram & Gil Deutsch Redmill Ronin 45.44% Investments 15.17% 9.71% Public Beresheit 12.74% Fund 16.94% Sunflower Sustainable Investments Ltd. 3

  4. Slide 4: The Renewable Energy Sector

    The Renewable Energy Sector  Renewable Energy is energy originating from continuous and non‐consumable non consumable natural processes  Renewable Energy sources are distinguished from energy sources such as petroleum, natural gas, coal and nuclear energy, the use of which involves a significant r

  5. Slide 5: The Renewable Energy Sector – PV Technology

    The Renewable Energy Sector PV Technology  A photovoltaic (PV) cell is a solar facility for direct generation of electrical energy by absorbing electromagnetic radiation from the sun  The third largest Renewable Energy sector, after Hydro and Wind  The purchase cost of panels has decreased drasti

  6. Slide 6: The Renewable Energy Sector – Wind Technology

    The Renewable Energy Sector Wind Technology  Wind Turbine convert the kinetic energy of wind into electrical energy  The fastest developing renewable energy sector in the Western world  48 GW installed during 2012 worldwide and a total installed capacity of 280 GW at the end of 2012  $93 billion

  7. Slide 7: The Group’s Investments in Projects

    The Group’s Investments in Projects in MW 60 60 50 45 39 40 29 30 20 13 13 10 0 2008 2009 2010 2011 2012 Q2 2013 7

  8. Slide 8: Company’s Revenues from Electricity

    C Company’s ’ Revenues R ffrom El Electricity t i it Million NIS 99 100 3 90 22 80 70 65 2 60 55 22 5 50 11 40 29 74 30 26 20 41 39 26 28 10 0 1 1 2008 2009 2010 2011 2012 1-6/2013 I l Italy S i Spain I Israel l 8

  9. Slide 9: The Group’s Investments in Projects

    The Group Group’s s Investments in Projects (after depreciation and amortization, NIS in millions) 700 694 657 600 625 500 400 300 258 200 224 227 100 0 31/12/2008 31/12/2009 31/12/2010 31/12/2011 31/12/2012 30/06/2013 As of 2013, the Company presents its investments in Spain and part of the project

  10. Slide 10: Solar Energy - Italy

    Solar Energy gy - Italy y  Accordingg to the European p directive on Renewable Energy, gy, byy 2020 Italyy is required q to produce 17% of its consumed energy from renewable sources  In the aggregate, by the end of 2012 PV facilities of approx. 16,400 MWp were connected to the electricity grid in

  11. Slide 11: Summary of the Group’s Business in Italy

    S Summary off the th Group’s G ’ Business B i in i Italy It l Project Production Amount Paid Projected Effective Net Amount Paid Capacity in for the Project Annual Financing for the Project MW (in thousand €, Revenues Leverage (in thousand €, including related (in thousand €) including related costs

  12. Slide 12: Solar Energy - Spain

    Solar Energy - Spain  According to the European directive on Renewable Energy, by 2020 Spain is required to produce 20% of its consumed energy from renewable sources  By the end of 2012, PV facilities of 5,100 MWp were connected to the electricity grid in Spain  The Company has been operating in

  13. Slide 13: Summary of the Group’s Business in Spain

    Summary of the Group’s Business in Spain Company’s Company s Share Project Production Amount Projected Effective Net Capacity paid for the Revenues Financing Investment (in MW) Project for 2013 Leverage (in thousand €, (in thousand €, (in thousand including including €) (*) related costs) related co

  14. Slide 14: Solar Energy - Israel

    Solar Energy - Israel  The Company has been operating in the renewable energy sector in Israel since 2010  The Company has small active facilities with an installed capacity of 4 MW which are connected to the electricity grid (the Company’s share is 3 MW)  The Company owns medium‐size PV plants w

  15. Slide 15: Wind Energy - Poland

    Wind Energy gy - Poland  The Company founded a subsidiary, Windflower, in which the Company holds 82% together with three entrepreneurs each holding 6%  According to the European directive on Renewable Energy, by 2020 Poland is required to produce 19% of its consumed energy from renewable sources

  16. Slide 16: Summary of the Group’s Investments

    Summary of the Group’s Investments thousand Euro Incentive Country Company’s Total Initial Company’s Company’s Term of Average Projected Average Share in Cost Share Share in Incentive Cost per Annual Projected MW Initial Cost (in years) MW Revenues Annual (1) for 2013 Revenues (1) per MW (1) Feed In

  17. Slide 17: The Group’s Investments in Countries

    The Group’s Investments in Countries In Financial Terms 31 12 2013 31.12.2013 30.6.2013 Israel Spain Poland Italy Israel Spain Poland Italy 12% 11% 19% 16% 70% 70% 0% 2% 17

  18. Slide 18: Return of Investment in Spain and Italy

    Return of Investment in Spain and Italy – Euro in thousands (Company’s Share only, Italy – 85%, Spain – 50%) Spain Italy Amount of Initial Investment Net of Finance (*) 31 24 (**) Net Withdrawals (10) (5) Remaining Amount of Initial Investment on June 21 19 30 2013 30, Rate of Total Investment Retur

  19. Slide 19: Income-Producing Real Estate Business in Israel

    Income‐Producing Real Estate Business in Israel The Company owns 3 properties with a total fair value of approx. approx NIS 115 million An income-producing An income-producing A plot for the construction property in Netanya property in Ra’anana (the of an office tower in – in partnership with Clal “

  20. Slide 20: EBITDA and FFO the Group’s Total Activity

    EBITDA and FFO the Group’s Total Activity in thousand NIS Expected for 4‐6/2013 1‐6/2013 2012 2013 (3) EBITDA 85,000‐95,000 29,646 42,464 76,616 FFO 34,000‐40,000 14,292 18,417 (*) 43,525 EBIDTA – Earnings Before Interest, Taxes, Depreciation, Amortization, reappraisal of real estate and capital gai

  21. Slide 21: Summary Balance Sheets

    S mmar Balance Sheets in thousand NIS Summary June December 30, 2013 31, 2012 Cash, Cash Equivalents and Short‐term Investments 153,402 238,106 Investments in affiliated companies , 113,167 , 116,191 Investment in Renewable Energy Projects, after Depreciation 543,944 475,037 Investment Property 115

  22. Slide 22: Summary Income Statement Figures

    S Summary I Income Statement St t t Figures Fi in thousand NIS 4-6.2013 1-6.2013 2012 Re en es Revenues 30 505 30,505 47 191 47,191 82 780 82,780 Cost of Revenues 12,325 21,834 34,962 Gross Profit 18,180 25,357 47,818 Valuation losses of photovoltaic plants - - (2,195) Valuation gains of investment

  23. Slide 23: Main Financial Ratios in the Consolidated Financial Statements

    Main Financial Ratios in the Consolidated Financial Statements June 30, December 31, 2013 2012 Equity to Assets Ratio 32% 34% Working Capital Ratio 2 2.7 23

  24. Slide 24: Sunflower Bond Payment Schedule

    Sunflower Bond Payment Schedule Principal Repayments in Million NIS 2013 2014 2015 2016 A Bonds 2.5 5 5 C Bonds 23 23 23 D Bonds 32 32 32 Bereshit Bonds 20 20 20 Total 25.5 80 80 52 (*) According to the expected cash flow for the next two years, included in the Directors report of Q‐2 2013, the Comp

  25. Slide 25: Summary

    Summary  A professional and efficient team with over 5 years of experience in the renewable energy market  The Company purchased projects with a total production capacity of 60 MW out of which 49 MW are connected to the electricityy ggrid ((*))  Projected revenues for 2013 from the Renewable Ener

  26. Slide 26: Disclaimer

    Disclaimer This presentation is made for convenience purposes only and is not designed to obviate the need to inspect the reports publicly released by Sunflower Sustainable Investments Ltd., including the financial statements. Certain information as presented in the presentation includes declaration

  27. Slide 27: Thank you!

    Thank you! 27

  28. Slide 28: Annex: Real Estate in Israel – Amdocs Building

    Annex: Real Estate in Israel 1. “Amdocs Building” at Ra’anana junction  The company holds 50% of a property, which is located at Raanana Raanana-center center junction (south), close to Route 4  Built-up area of the property – approx. 13,425 sqm  Most of the property is currently leased to Amdocs

  29. Slide 29: Annex: Real Estate in Israel – 2007 Lot

    Annex: Real Estate in Israel 2. 2007 Lot  A lot on an area of approx. 4,600 sqm located near Amdocs Building  The lot has building rights for the construction t ti off a multi-story lti t tower t known k as the “Raanana City Gate Tower”  REIT 1 has an option to buy 50% of the built-up tower  Fai

  30. Slide 30: Annex: Real Estate in Israel – Property in Netanya

    Annex: Real Estate in Israel 3. Property in Netanya  The company holds 50% of a property located in the Netanya southern industrial zone  Built-up area of the property – approx 7,254 sqm  Fair book value – NIS 23 million  Annual income from the property – approx NIS 2,000 thousand  Occupancy p

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