Ameresco, Inc. · NYSE:AMRC
Ameresco — Q1 2020 Earnings Presentation
12 slides from Ameresco's earnings presentation, May 4, 2020
Slide 1: Q1 2020 Supplemental Information
Q1 2020 Supplemental Information May 4, 2020 ameresco.com © 2020 Ameresco, Inc. All rights reserved.
Slide 2: Safe Harbor Forward Looking Statements
Safe Harbor Forward Looking Statements Any statements in this presentation about future expectations, plans and prospects for Ameresco, Inc., including statements about market conditions, pipeline and backlog, as well as estimated future revenues and net income, and other statements containing the w
Slide 3: Q1 2020 Highlights
Q1 2020 Highlights $6.2M $21.2M $212.4M +50% +50% +42% y/y Net Income Change y/y Adj. EBITDA Revenue y/y Revenue Net Income Adjusted Change Change EBITDA 3
Slide 4: Sources of Revenue – Q1 2020
Sources of Revenue – Q1 2020 $144.4M $46.3M $21.7M Projects Recurring Other Energy efficiency and Energy & incentive revenue Services, software and renewable energy projects from owned energy assets; plus integrated PV recurring O&M from projects 4
Slide 5: 84% of EBITDA Came From Recurring Lines of Business
84% of EBITDA Came From Recurring Lines of Business Year-to-Date 2020 * Adjusted EBITDA percentages allocate corporate expenses according to revenue share 22% Other Other Projects Recurring 10% 9% 7% O&M O&M 9% 11% $21M Assets $212M Adjusted 13% Revenue EBITDA* Projects 68% Assets 73% 84% Recurring
Slide 6: Energy Asset Portfolio – 3/31/2020
Energy Asset Portfolio – 3/31/2020 * Numbers may not sum due to rounding LFG to RNG: 22% Electricity: 29% LFG Direct Operating Use: 11% Energy Assets Energy RNG: 10% in Development Assets & Construction Solar: 255 MWe 298 MWe 70% Solar: 48% Other: 8% Other: 2% 255 MWe of Energy Assets. Renewable Gas
Slide 7: Energy Asset Balance Sheet – 3/31/2020
Energy Asset Balance Sheet – 3/31/2020 Energy Debt: Operating Operating Energy $449M Total $219M Assets Debt $596M $361M Corporate Development/ Debt Construction $142M $147M $147M of the $596M energy assets on our balance $219M of the $361M of total debt on our balance sheet is sheet are still in de
Slide 8: Tremendous Forward Visibility: Backlog & Recurring Revenue
Tremendous Forward Visibility: Backlog & Recurring Revenue Business Awarded Project ~ 12-24 months to contract $1.1 billion Backlog Contracted Project ~ 12-36 months of revenue $1.1 billion Backlog Operating Energy Estimated 14 year weighted average PPA remaining $900 million contracted revenue Asse
Slide 9: Sustainable & Profitable Business Model
Sustainable & Profitable Business Model Expanding Earnings at a Faster Rate than Revenue by Growing Higher Margin Recurring Lines of Business Revenue ($M) High-End Adjusted EBITDA ($M) High-End 9.2% CAGR 19.5% CAGR $980 $112 Low-End Low-End 7.6% CAGR 17.3% CAGR $910 $102 $867 $91 $91 $787 $63 $56 $7
Slide 10: Enabling a Low Carbon Future
Enabling a Low Carbon Future In 2019, Ameresco’s renewable energy assets & customer projects delivered a Carbon Offset equivalent to: 11,167,978 Metric Tons of CO2 Ameresco’s 2019 Carbon Offset is equal to one of… Aggregate Metric Tons of CO2 Avoided Per Year 12,000,000 11,167,978 9,696,843 10,000,0
Slide 11: Thank You to Our Customers, Employees, and Shareholders
Thank You to Our Customers, Employees, and Shareholders ameresco.com © 2020 Ameresco, Inc. All rights reserved.
Slide 12: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Three Months Ended March 31, 2020 2019 (Unaudited) (Unaudited) Adjusted EBITDA: Net income attributable to common shareholders $ 6,201 $ 4,147 Impact of redeemable non-controlling interests 435 (1,276) Plus: Income tax provision (benefit) (2,503) 257 Plus: Other expen