Solaria Energia Y Medio Ambiente, S.a. · BME:SLR
Solaria Energia Y Medio Ambiente — Q1 2022 Earnings Presentation
23 slides from Solaria Energia Y Medio Ambiente's earnings presentation, May 30, 2022
Slide 1: Q1 2022 Earnings and Strategy
DOUBLING PROFITS Presentación corporativa Presentación corporativa OPENING NEW HORIZONS Q1 EARNINGS PRESENTATION Q1 2022 Earnings and Strategy May 30, 2022 update May 30, 2022
Slide 2: Unprecedented Solar PV Growth in EU
UNPRECENDENTED SOLAR PV GROWTH IN EU 600GW EU needs to REPOWER EU – MAY 2022 x 4.6 All EU members are moving in the same direction install 50GW 45% share of renewable energy Germany. new target 215GW by 2030 per year 381GW Interconnection back 2020 NECP in the debate EU members Spain and France from
Slide 3: Solaria Perfectly Positioned to Harness Growth
SOLARIA PERFECTLY POSITIONED TO HARNESS GROWTH 100% FOCUS ON PV SOLAR AND EUROPEAN UNION UNIQUE AND DISTINCTIVE STRATEGY 20Y KNOW-HOW IN SOLAR PV Twenty years fully dedicated to solar PV ALREADY A REALITY 2GW in operation and under construction PROFITABLE SOLAR HUB Top in class in Capex and Opex SUS
Slide 4: Key Highlights
KEY HIGHLIGHTS Doubling profits ✓ Production +55% y/y; revenues +59% y/y; EBITDA +70% y/y; net profit +98% y/y ✓ +180MW addition = Already a 1GW player. 2,057MW installed and under construction. 2GW player ✓ Cifuentes-Trillo 626MW is a reality High visibility on 6.2GW target ✓ Three flagship project
Slide 5: Q1 Earnings: Doubling Profits
Q1 Earnings Doubling Profits
Slide 6: Historical Operational Performance
HISTORICAL OPERATIONAL PERFORMANCE Production In line with commissioning of new installations, energy production increased Q1 2022 Q1 2021 % chg. from 143.2 GWh to 221.7 GWh over the year. Sales Production (GWh) 221.7 143.2 +55% In line with production growth and Sales (€mn) 32.6 18.7 74% recognitio
Slide 7: Doubling Profits
DOUBLING PROFITS Strict control of operating costs As a result of stringent control of costs and the suspension of the 7% generation tax, operating costs fell by 32% and EBITDA Q1 2022 (€mn) Q1 2021 (€mn) % chg. surpassed revenues with impressive 70% growth. Total revenues 36.5 22.9 +59% Doubling pr
Slide 8: Improvement of Operating Cash Flow
IMPROVEMENT OF OPERATING CASH FLOW Cash performance (€mn) Strong cash position €123mn Cash Cash Q1 EBITDA Financial Working Cash Issue of bonds Repayment of Repayment 2022 2021 of Notes results Capital invesment and Project Bonds and Finance Project Finance CAGR 62% 94,015 47,552 Operation cash flow
Slide 9: Solaria Set to Reach 2GW by Year End
SOLARIA SET TO REACH 2GW BY YEAR END Toro 130MW Fresh addition SOLARIA IS to capacity ALREADY +180MW Connection A 1GW PLAYER Total capacity in End of june operation 987MW + Armus 50MW Cifuentes-Trillo 444MW 1,070MW + Seven in Spain 429MW UNDER CONSTRUCTION 626MW One in Portugal 15MW
Slide 10: Cifuentes-Trillo 626MW
CIFUENTES-TRILLO 626MW
Slide 11: High Visibility of 6.2GW Target
HIGH VISIBILITY OF 6.2GW TARGET Garoña + Villaviciosa + Santarem = 45% of target Garoña 595MW 13 plants Location: Castile and León, Spain Status: Environmental permit expected by October 2022 1.8GW Connection by year-end 2023 Three flagship projects Villaviciosa 782MW 14 plants Location: Castilla-La
Slide 12: New Drivers of Growth
New drivers of growth
Slide 13: Italy – Target Increased from 3 to 5GW by 2030
ITALY – TARGET INCREASED FROM 3 TO 5GW BY 2030 Spectacular growth of pipeline in last two years Figures for Italy Target to reach 3GW 2021 PV solar capacity pipeline by year end 22,7GW 5000 Current target by 2030 50GW = 3GW/year 3000 Potential update to 1200 1150 60GW = 4GW/year 400 350 600 100 FY20
Slide 14: Entry in Wind Onshore
ENTRY IN WIND ONSHORE 1,200MW BY 2030 ASSETS OPTIMIZATION PRESENCE IN REGIONS WITH HIGH WIND RESSOURCES 10-20% HYBRIDIZATION OF OUR PV ASSETS
Slide 15: Spain – Securing New Pipeline to Reach 10GW Target
SPAIN – SECURING NEW PIPELINE TO REACH 10GW TARGET €228m guarantees extended in last six months STILL ROOM TO GROW New Guarantees Navarre Castile and León 300MW Figures for Spain €228mn 3060MW extended in last six months Aragón 300MW 2021 PV solar capacity 13,6GW = Current target by 2030 40GW = 3GW/
Slide 16: Back to Germany
BACK TO GERMANY 17GW/year up to 2030 EASTER PACKAGE April 2022 PREVIOUS New targets EXPERIENCE IN GERMANY • Doubling of renewable share in total electricity consumption; installed capacity Figures for Germany from 59GW to 215GW by 2030 • Tender volumes for solar power would also 2021 PV solar capaci
Slide 17: Innovation Is Not Only Technology
INNOVATION IS NOT ONLY TECHNOLOGY LAND WILL BE SCARCE AND A STRATEGIC ASSET FOR RENEWABLE DEVELOPMENT IN THE EU GENERIA, company founded in 2020 and fully owned by Solaria, is our answer to this issue 8% Estimated IRR 60 Full equity €mn already invested 30Y contract linked to inflation 30y €2,500-3,
Slide 18: Appendix
Appendix
Slide 19: Income Statement
Income Statement Q1-2022 €mn Q1-22 Q1-21 Relative change (%) Net sales 32.649 18.751 74 Other income and earnings 3.811 4.164 (8) Total revenues 36.46 22.915 59 Personnel expenses (2.270) (1.755) 29 Operating expenses (1.120) (1.659) (32) EBITDA 33.070 19.501 70 Amortisation (5.337) (4.546) 17 EBIT
Slide 20: Balance Sheet – Assets
Balance Sheet Q1-2022 Assets €mn Q1-22 FY21 Relative change (%) Non-current assets 918.486 854.468 7 Intangible assets 115.131 112.221 3 Tangible fixed assets 737.213 671.303 10 Deferred tax assets 64.145 69.466 (8) Other non-currents financial assets 1.997 1.478 35 Current assets 176.235 188.284 (6
Slide 21: Balance Sheet – Liabilities
Balance Sheet Q1-2022 Liabilities €mn Q1-22 FY21 Relative change (%) Equity 247.625 247.355 11 Capital and share premium 310.926 310.926 - Other reserves 5.311 5.311 - Retained earnings (15.332) (35.841) (57) Value adjustments (26.280) (33.041) (20) Non-current liabilities 647.945 621.752 4 Obligati
Slide 22: Disclaimer
Disclaimer This document has been prepared by SOLARIA ENERGÍA Y MEDIO AMBIENTE, S.A. (“Solaria”) for information purposes only and it is not a regulated information or information that has been subject to prior registration or review by the Spanish Securities Market Commission. By attending a meetin
Slide 23: Gracias
Gracias.
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