Ameresco, Inc. · NYSE:AMRC
Ameresco — Q2 2020 Earnings Presentation
13 slides from Ameresco's earnings presentation, Aug 3, 2020
Slide 1: Q2 2020 Supplemental Information
Q2 2020 Supplemental Information August 3, 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: Q2 2020 Highlights
Q2 2020 Highlights $4.4M $9.0M $223.0M $0.19 $24.1M $0.09 GAAP EPS Non-GAAP EPS Adjusted GAAP Net Revenue EBITDA Income Non-GAAP Net Income 3
Slide 4: Sources of Revenue – Q2 2020
Sources of Revenue – Q2 2020 $159.9M $46.1M $17.0M 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: 78% of EBITDA Came From Recurring Lines of Business Year-to-Date 2020
78% of EBITDA Came From Recurring Lines of Business Year-to-Date 2020 * Adjusted EBITDA percentages allocate corporate expenses according to revenue share Other Other 21% O&M 9% 3% Projects 9% Recurring O&M 19% 8% Assets $435M $45M 13% Adjusted Revenue EBITDA* Projects 70% Assets 69% 78% Recurring 5
Slide 6: Energy Asset Portfolio – 6/30/2020
Energy Asset Portfolio – 6/30/2020 * Numbers may not sum due to rounding LFG to Electricity: RNG: 25% 30% LFG Direct Use: 9% Operating Energy Assets Energy RNG: 10% in Development Assets & Construction Solar: 264 MWe 313 MWe 68% Solar: 49% Other: 2% Other: 7% 264 MWe of Energy Assets. Renewable Gas
Slide 7: Energy Asset Balance Sheet – 6/30/2020
Energy Asset Balance Sheet – 6/30/2020 Energy Operating Debt: Operating $457M Energy Total $220M Assets Debt $638M $346M Corporate Development/ Construction Debt $181M $126M $181M of the $638M energy assets on our balance $220M of the $346M of total debt on our balance sheet is sheet are still in de
Slide 8: Tremendous Forward Visibility: Backlog & Recurring Revenue Business
Tremendous Forward Visibility: Backlog & Recurring Revenue Business Awarded Project ~ 12-24 months to contract $1.2 billion Backlog Contracted Project ~ 12-36 months of revenue $1.0 billion Backlog Estimated Operating Energy contracted revenue 14 year weighted average PPA remaining $938 million and
Slide 9: Sustainable & Profitable Business Model
Sustainable & Profitable Business Model Expanding Earnings at a Faster Rate than Revenue by Growing Higher Margin Recurring Lines of Business Revenue ($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 Since 2010, Ameresco’s renewable energy assets & customer projects delivered a cumulative Carbon Offset equivalent to: 50+ Million Metric Tons of CO2 Ameresco’s 2019 Carbon Offset of 11,167,978 Metric Tons of CO2 is equal to one of… Aggregate Metric Tons of CO2 Avoided P
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: Non-GAAP Financial Measures
Non-GAAP Financial Measures We use the Non-GAAP financial measures defined and discussed below to provide investors and others with useful supplemental information to our financial results prepared in accordance with GAAP. These Non-GAAP financial measures should not be considered as an alternative
Slide 13: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Adjusted EBITDA: Net income attributable to common shareholders $ 4,365 $ 9,216 $ 10,566 $ 13,363 Impact from redeemable non-controlling interests