Ecomembrane S.p.a. · MIL:ECMB
Ecomembrane — H1 2023 Earnings Presentation
20 slides from Ecomembrane's earnings presentation, Sep 1, 2023
Slide 1: 1H 2023 Results Presentation
1H 2023 Results Presentation
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by Ecomembrane SpA (“Ecomembrane SpA” or the “Company”) solely for this presentation and does not represent any investment research, recommendation, consulting or suggestion, concerning the Company or its shares or any other securities/financial instruments
Slide 3: Today's Presenters
TODAY’S PRESENTERS LORENZO SPEDINI PAOLO GIARDINO Chief Executive Officer Chief Financial Officer Founder of Ecomembrane Pluriannual experience as CFO in +20 years of experience in the Renewable Energy and Helthcare renewable energies field companies c.23 years Joined Ecomembrane in 2023 with Ecomem
Slide 4: What we promised and what we already delivered
WHAT WE PROMISED AND WHAT WE ALREADY DELIVERED Key events from IPO The higher visibility would give Ecomembrane the valuable New Order for CO2 gasometer VISIBILITY AND opportunity to adopt a “top-down” approach, with direct BRAND RECOGNITION visibility and touch point with the CEOs of important Euro
Slide 5: Ecomembrane at a glance
ECOMEMBRANE AT A GLANCE A Mission-critical partner… Ecomembrane at a glance Tailor made production Manufacturing of gasholders, digester covers and odor control covers of any size, using performance guaranteed PVC coated membranes 10 >1200 1 new patent for gas hydrogen storage Installations realized
Slide 6: Over 20 years of growth
OVER 20 YEARS OF GROWTH Stakes in Alvus and Favus sold to VORN Bioenergy ➢ Agrisilos Srl was founded in 1970 by Luigi Spedini, Acquisition of the Listing on the EGM focusing on the production sheet welding unit Stock Exchange of membranes for from Fluidra swimming pool 2023 ➢ The Company became one
Slide 7: Group structure and corporate bodies
GROUP STRUCTURE AND CORPORATE BODIES Group Structure Board of Directors Effective from IPO Lorenzo Spedini Luigi Spedini Lorenzo Luigi Spedini Spedini Presidente e Member 80% 20% CEO Marco Soldi Independent director Fabio Alessandra Sattin Stea Member Member Consolidated subsidiary 100% 20% Board of
Slide 8: A compelling equity proposition
A COMPELLING EQUITY PROPOSITION Product and technology at the centre of the green energy transition: end markets (biogas and 1 biomethane plants, storage plants) with significant growth perspective Undisputed product portfolio and brand recognition: one-stop-shop approach and 2 mission-critical tech
Slide 9: European biomethane and biogas markets
1 Product and technology at the centre of the green energy transition EUROPEAN BIOMETHANE AND BIOGAS MARKETS Regulation updates Attractive megatrends Biogas and biomethane production: >2x by 2030(1) ✓ The government has submitted the new version of the Energy and Climate Plan (PNIEC) to the EU. ✓ EU
Slide 10: USA biomethane and biogas markets
1 Product and technology at the centre of the green energy transition USA BIOMETHANE AND BIOGAS MARKETS Operational US Biogas plants by state Attractive megatrends Huge production potential: only 15% industry potential has been released 27 107 27 107 ✓ 14,958 new sites available for development 90 9
Slide 11: Well-diversified proposition across different product lines
2 Undisputed product portfolio and brand recognition WELL-DIVERSIFIED PROPOSITION ACROSS DIFFERENT PRODUCT LINES… Product portfolio… An invaluable result of history, experience and innovation 360° production of all necessary Best-in-class technical competence components SPECIAL 2&3 MASTER CUPOLA M3
Slide 12: At the forefront of innovation
3 Unique R&D capability capable of anticipating new market trends AT THE FOREFRONT OF INNOVATION A corporate structure built around Research and Development… …leading Ecomembrane at the forefront of the new frontier of energy storage Market analysis and strategy Conception of innovative products bef
Slide 13: Tightly controlled value chain: speed, reliability and innovation
4 Vertically integrated business model and tightly controlled value chain TIGHTLY CONTROLLED VALUE CHAIN: SPEED, RELIABILITY AND INNOVATION BEST-IN-CLASS KNOW-HOW FULL CONTROL OF THE VALUE CHAIN GLOBAL MARKET PRESENCE ✓ Tailor –made design ✓ Raw material purchase Innovation Internal ✓ Testing and cu
Slide 14: 1H 2023 financial performance significantly affected by seasonality
5 Compelling financial profile… 1HALF2023 FINANCIAL PERFORMANCE SIGNIFICANTLY AFFECTED BY SEASONALITY Sales (€m) Gross profit (€m) EBITDA (€m) Net Financial Position (€m) Gross margin (%) EBITDA margin (%) Leverage (x) 14.2 62% 61% 62% 11.7 10.5 49% 8.7 7.2 23% 6.1 21% 5.1 14% 4.4 0.8x 0.4x 0.3x cas
Slide 15: Strong backlog as of 30.06.23
5 Compelling financial profile… STRONG BACKLOG AS OF 30.06.23 Strong backlog of orders to be deployed in the next months of FY 2023 First Half results and backlog – 1H2023 vs FY2022 Comments 14.2 15.2 10.8 Backlog …Volume of business in the first half of the year historically characterised by a high
Slide 16: Strong resilience and untapped potential to exploit future growth
6 …capable of overcoming recent macroeconomic challenges STRONG RESILIENCE AND UNTAPPED POTENTIAL TO EXPLOIT FUTURE GROWTH Key Macro Challenges Ecomembrane evidence Ecomembrane Customer Key Critical-Win KPIs Factors Financial Performance Resilience High quality COVID-19 Exposure to resilient and hig
Slide 17: The IPO is just the beginning: key events from then
7 Strong growth potential based on clear growth trajectory THE IPO IS JUST THE BEGINNING: KEY EVENTS FROM THEN Business-related milestones M&A Granted patent for New Order for CO2 Sold minority stakes in Acquisition of Splash low-pressure gas gasometer Alvus/Favus SuperPools hydrogen storage ✓ Recei
Slide 18: The acquisition of Splash SuperPools
7 Strong growth potential based on clear growth trajectory THE ACQUISITION OF SPLASH SUPERPOOLS The acquisition of Splash SuperPools represents the first step toward the creation of a truly global player Snapshot of the transaction Key data points of Splash SuperPools ▪ Agreement signed with Little
Slide 19: Annex
ECQ@MEMBRANE ENVIRONMENTAL TECHNOLOGY
Slide 20: 1H 2023 P&L and Balance Sheet
1H 2023 P&L AND BALANCE SHEET P&L Balance Sheet Consolidated Statement of Profit or Loss (€'000) 1H 2023 Consolidated Statement of Financial Position (€'000) 2022 Pro-forma 1H 2023 Revenues from sales and services 4,386 Intangible assets 1,199 2,962 Property, plant and equipment 1,122 1,476 Increase