Enlight Renewable Energy Ltd · TASE:ENLT
Enlight Renewable Energy — Q3 2021 Earnings Presentation
21 slides from Enlight Renewable Energy's earnings presentation, 2021
Slide 1: Financial Statements Q3 2021
Financial Statements Q3 2021 1 Selac Project, Kosovo
Slide 2: Disclaimer
Disclaimer The Company has included information in this presentation regarding itself and regarding member companies in the Company’s group (the “Company”) which constitutes forward looking information, as defined in the Securities Law, 5728-1968 (“Forward Looking Information”). This information inc
Slide 3: Summary financials and major events during the period
Summary financials and major events during the period 3 Attila Project, Hungary
Slide 4: Summary third quarter results: Non GAAP
Summary third quarter results: Non GAAP Three months ended September Nine months ended September 9% 14% 109 100 309 (9%( 7% 270 1% 13% 80 75 75 234 30% 208 211 208 68 42% 60 175 §§§ §§§ 46 123 Revenues EBITDA (1) EBITDA excl US FFO (2) Revenues EBITDA (1) EBITDA excl US FFO (2) deal expenses deal ex
Slide 5: Summary third quarter results: IFRS
Summary third quarter results: IFRS Three Months Ending September Nine Months Ending September 16% 22% 74 220 64 180 24% 8% 129 39 36 §§§ 104 §§§ 22% 159% 259% -78% 61 44 11 9 9 17 17 2 Revenues Gross profit Net profit Net profit, after Revenues Gross profit Net profit Net profit, after neutralizing
Slide 6: Major events until the publication date of the reports
Major events until the publication date of the reports Gradual commercial operation of the Selac project in Kosovo - 105 megawatts Status report as of Q1 2022 ▪ 18 of the 27 turbines have been connected to the grid -preliminary revenues from the project in Q3 ▪ Full commercial operation of the entir
Slide 7: Electricity hedging agreements will create excess profitability of c.EUR 20 million
Electricity hedging agreements will create excess profitability of c.EUR 20 million during the years 2022-2023 Picasso Project in Sweden, 113 megawatts (5) Gecama Project in Spain, 329 megawatts (4) ▪ Agreement to hedge 31% of the project’s output over 5 quarters, beginning in ▪ Hedging agreement wi
Slide 8: General analysis of the effects of macroeconomic events on the Company
General analysis of the effects of macroeconomic events on the Company Inflation Increase in electricity prices ▪ Trend of increasing inflation rates in Israel and around the world ▪ The rise of electricity prices in Europe benefited the Company’s projects which are exposed to wholesale market price
Slide 9: Projected development of the portfolio
Projected development of the portfolio 9 Attila Project, Hungary
Slide 10: Consolidated portfolio
Consolidated portfolio Revenue-generating capacity, capacity under construction and in development in the total amount of 17GWdc and -12.2GWh storage Stake in the consolidated portfolio: 80%-85% Storage capacity, MWh 16,974 12,200 Capacity, MWdc 11,895 10,445 2,750 1,235 Portfolio Definitions 697 52
Slide 11: Estimated addition of 1,800 megawatts of revenue-generating projects by end of 2023
Estimated addition of 1,800 megawatts of revenue-generating projects by the end of 2023* First year revenues, consolidated reports Projected date of commercial operation Projects under construction and in pre-construction Production NIS millions Technology % Stake Output 105-120 Q4/21 Wind 40.8% 109
Slide 12: Annual recurring revenue (ARR) forecast until the end of 2023
Annual recurring revenue (ARR) forecast until the end of 2023 Development of revenue-generating capacity and ARR (10), based on the consolidated reports, NIS milions* ARR 1,300 850 850 56% Enlight’s Compound annual growth rate (CAGR) according share to annual recurring revenue (ARR) until 2023 ARR 9
Slide 13: Projected development of the portfolio in the US market until 2023
Projected development of the portfolio in the US market until 2023 Another approximately 1,400 megawatts are expected to begin construction in the next two years 321 megawatts ready for construction ▪ Apex Solar has secured all of the approvals for the ▪ 1,360 megawatts with signed PPA’s for a perio
Slide 14: ESG updates
ESG updates E Environmental ▪ Approximately 713GWh of clean energy produced in the first nine months of 2021 ▪ Approximately 176,000 tons of CO2 emissions saved during the first nine months of 2021 ▪ Equivalent to providing clean energy to 160,000 households or taking approximately 50,000 cars off t
Slide 15: Appendices
Appendices 15 Attila Project, Hungary
Slide 16: Condensed statements of income, Non-GAAP - nine months
Condensed statements of income, September 21 - Non-GAAP** - nine months Data for the nine months ended September NIS millions September 2021 September 2020 Change Revenues 309 270 14%+ Gross profit 189 165 +15% Operating and headquarters expenses (36) (30) 20%+ Non-recurring cost with respect to clo
Slide 17: Condensed statements of income, Non-GAAP - three months
Condensed statements of income, September 21 - Non-GAAP** - nine months Data for the three months ended September NIS millions September 2021 September 2020 Change Revenues 109 100 9%+ Gross profit 64 61 +5% Operating and headquarters expenses (15) (12) 25%+ Non-recurring cost with respect to closin
Slide 18: Condensed statements of income, IFRS - nine months
Condensed statements of income, September 21 - IFRS - nine months Data for the nine months ended September NIS millions September 2021 September 2020 Change Revenues 220 180 22%+ Gross profit 129 104 24%+ Operating and headquarters expenses (36) (30) 20%+ Non-recurring cost with respect to closing t
Slide 19: Condensed statements of income, IFRS - three months
Condensed statements of income, September 21 - IFRS - three months Data for the three months ended September NIS millions September 2021 September 2020 Change Revenues 74 64 16%+ Gross profit 39 36 8%+ Operating and headquarters expenses (15) (12) 25%+ Non-recurring cost with respect to closing the
Slide 20: Reconciliation of the statement of income to the Non-GAAP statement
Reconciliation of the statement of income for accounting purposes to the Non-GAAP statement according to the fixed assets model Presented below is a reconciliation of the figures reported in the consolidated statements of income for the nine months ended in September 2021, in which some of the proje
Slide 21: Notes and Sources
Notes and Sources 1. The EBITDA index is calculated as a profit (revenues from electricity receipts less operating costs) before financing, taxes, depreciation and amortization and based on the implementation of the fixed assets model for projects after commercial operation. 2. The FFO index is calc
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