Energy One Limited · ASX:EOL
Energy One — Investor Presentation (May 2024)
35 slides from Energy One's investor presentation, May 27, 2024
Slide 1: Energy One Limited Equity Capital Raising May 2024
ENERGY ONE LIMITED (ASX:EOL) EQUITY CAPITAL RAISING MAY 2024
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer Important Notices and Disclaimer The following notice and disclaimer applies to this investor presentation (Presentation) and you are therefore advised to read this carefully before reading or making any other use of this Presentation or any information contained in t
Slide 3: Important Notice and Disclaimer
Important Notice and Disclaimer Not for release or distribution in the United States of America This Presentation may not be distributed or released in the United States or to any person acting for the account or benefit of a person in the United States. This Presentation and the information contain
Slide 4: Important Notice and Disclaimer
Important Notice and Disclaimer There can be no assurance that actual outcomes will not differ materially from these forward-looking statements. A number of important factors could cause actual results or performance to differ materially from the forward-looking statements, including (without limita
Slide 5: Energy One Limited
ENERGY ONE LIMITED ENERGY ONE LIMITED (ASX:EOL) 5
Slide 6: Energy One – A Profitable SaaS & Services Company
ENERGY ONE – A PROFITABLE SAAS & SERVICES COMPANY ENERGY ONE LIMITED (ASX:EOL) IS A LEADING INDEPENDENT GLOBAL SUPPLIER OF ENERGY TRADING AND RISK MANAGEMENT (ETRM) SOFTWARE SYSTEMS AND SERVICES. ENERGY ONE LIMITED (ASX:EOL) 6
Slide 7: Energy Market Participants Use Our Software & Services
Energy traders Generators Gas producers /shippers ENERGY MARKET PARTICIPANTS USE OUR SOFTWARE & SERVICES ENERGY ONE LIMITED (ASX:EOL) 7
Slide 8: EOL Has a Strong Track Record of Year-on-Year Growth in Revenue and Earnings
EOL HAS A STRONG TRACK RECORD OF YEAR-ON-YEAR GROWTH IN REVENUE AND EARNINGS HYBRID BUSINESS MODEL OF SOLUTIONS FOR THE TRADING WITH A MARKET SHARE (BY RECURRING (~90%) AND NON- OF ENERGY DERIVATIVES AND VOLUME OF ENERGY) OF 50% IN RECURRING (10%) REVENUES THE SCHEDULING OF PHYSICAL AUSTRALIA, 15% I
Slide 9: Where We Are
WHERE WE ARE MARKETS SERVED SYDNEY AUSTRALIA & NZ MELBOURNE UNITED KINGDOM EUROPE BRISBANE ADELAIDE SOLIHULL, UK PARIS, FRANCE AALST, BELGIUM AUSTRALIA UK FRANCE BELGIUM ENERGY ONE LIMITED (ASX:EOL) 9
Slide 10: EOL's Suite of Software Tools Are Used by Customers to Manage Risk
EOL’S SUITE OF SOFTWARE TOOLS ARE USED BY CUSTOMERS TO MANAGE THEIR EXPOSURE TO RISK AND VOLATILITY. OUR SOFTWARE IS USED TO TRADE AND MANAGE BOTH PHYSICAL ENERGY AND DERIVATIVE CONTRACTS EITHER BILATERALLY (B2B) OR ON PUBLIC EXCHANGES. ENERGY ONE LIMITED (ASX:EOL) 10
Slide 11: History of Strong Revenue Growth
HISTORY OF STRONG REVENUE GROWTH • 5-year Revenue CAGR of 30% • Recurring Revenue growth even stronger with a 37% CAGR • ARR grew organically by 19% for FY23 • Recurring revenue is 88% of total • Strong pipeline of projects Source: EOL FY2023 Investor Presentation ENERGY ONE LIMITED (ASX:EOL) 11
Slide 12: History of Growth Supported by Profitability
HISTORY OF GROWTH SUPPORTED BY PROFITABILITY CAGR 32% Source: EOL FY2023 Investor Presentation *Underlying EBITDA means normalised for one-off acquisition and re-structuring costs ENERGY ONE LIMITED (ASX:EOL) 12
Slide 13: Financial Results Summary - H1 FY24
FINANCIAL RESULTS SUMMARY - H1 FY24 ENERGY ONE LIMITED (ASX:EOL) 13
Slide 14: H1 FY2024 Results Summary
H1 FY2024 RESULTS SUMMARY AUD (‘mil) H1 2024 H1 2023 CHANGE $ CHANGE % Revenue 25.1 20.5 4.6 22% Recurring Revenue 22.6 18.4 4.2 23% Annual Recurring Revenue (ARR) 46.4 37.8 8.6 23% Statutory EBITDA 3.3 5.0 (1.7) (35%) Comparative EBITDA* 5.0 5.4 (0.4) (7%) NPBT (0.5) 1.8 (2.3) (128%) * Normalised f
Slide 15: Recurring Revenue Has Rebounded Strongly
RECURRING REVENUE HAS REBOUNDED STRONGLY Annual Recurring Revenue at constant currency AUD • Recurring revenue slowed in December 22 half however has CAGR 25% recovered strongly in the last two halves back to historical levels • 25% CAGR since December 2021 • Strong growth in Europe in particular, w
Slide 16: Trading Update to April 2024 and Guidance
TRADING UPDATE TO APRIL 2024 AND GUIDANCE Energy One remains on track to meet (or exceed) the prior (Feb 24) revenue guidance - which was A$51m (Total Operating Revenue) and A$45m (Recurring revenue). • Recurring Revenue growth in FY24 now expected to be up ~18% on FY23, at ~A$46m. • Total Operating
Slide 17: Capital Raising - Details
CAPITAL RAISING - DETAILS ENERGY ONE LIMITED (ASX:EOL) 17
Slide 18: Offer Summary
OFFER SUMMARY • Fully underwritten 1-for-28 non-renounceable entitlement offer to eligible existing shareholders as of the Record Date to raise Offer Size, Structure and approximately $4.3 million (“Offer”) Underwriting • Comprising the issue of approximately 1,073,837 new fully paid ordinary shares
Slide 19: Sources and Uses of Funds
SOURCES AND USES OF FUNDS SOURCES OF FUNDS A$M USES OF FUNDS A$M Offer 4.3 Partial repayment of NAB debt facility 4.0 Costs of the Offer 0.3 Total Sources 4.3 Total Uses 4.3 ENERGY ONE LIMITED (ASX:EOL) 19
Slide 20: Pro-forma Balance Sheet
Pro-forma Balance Sheet 31-Dec-23 Capital Raise Pro-forma 31-Dec-23 $m $m $m Assets Cash and cash equivalents 1.6 1.6 Trade and other receivables 7.5 7.5 Property, plant and equipment 0.5 0.5 Lease right-of-use asset 2.8 2.8 Software development 22.7 22.7 Intangible assets 52.4 52.4 Other assets 3.3
Slide 21: Offer Timetable
OFFER TIMETABLE EVENT DATE Announcement of the Offer Monday, 27 May 2024 Record Date for Offer (7.00pm Sydney time) Thursday, 30 May 2024 Offer Opening Date and Offer Booklet dispatched Tuesday, 4 June 2024 Offer closing date Friday, 14 June 2024 Announce results of Offer Tuesday, 18 June 2024 Settl
Slide 22: Key Risks
KEY RISKS The following slides discusses some of the key risks associated with any investment in EOL, together with risks relating to participation in the Offer, which may affect the value of EOL shares. The risks set out below are not listed in order of importance and do not constitute an exhaustiv
Slide 23: Key Risks
Key Risks Specific investment risks (continued) Product delivery EOL may not be able to deliver new products and developments that meet its clients’ needs and expectations. There are implementation risks of delay, data errors and incorrect configuration. Projects may execution also be delayed, or su
Slide 24: Key Risks
Key Risks General Investment risks Economic conditions EOL is subject to a general market risk inherent in all securities traded on a stock exchange. Factors such as inflation, exchange rates, fiscal policy, interest rates, and industrial disruption may impact on operating costs and prices. EOL’s in
Slide 25: Underwriting Agreement
Underwriting Agreement Energy One has appointed the Underwriter to act as the sole lead manager, underwriter and bookrunner in relation to the Offer, subject to the terms and conditions of the underwriting agreement (Underwriting Agreement). The Underwriting Agreement includes certain conditions pre
Slide 26: Underwriting Agreement
Underwriting Agreement (i) any government agency commences, or gives notice of an intention to commence, any action, investigation, enquiry, hearing or proceedings in relation to Energy One, the Offer or the Offer documents or prosecutes or commences proceedings against, or gives notice of an intent
Slide 27: Underwriting Agreement
Underwriting Agreement (i) as disclosed in an Offer document; or (ii) as agreed with the Underwriter (acting reasonably); m) (force majeure) there is an event or occurrence, including an official directive or request (including one compliance with which is in accordance with the general practice of
Slide 28: Underwriting Agreement
Underwriting Agreement (i) varies any term of Energy One’s constitution; (ii) alters the issued capital or capital structure of Energy One other than in connection with the Offer, or as contemplated by the Offer documents; (iii) ceases or threatens to cease to carry on business; or (iv) disposes, at
Slide 29: Underwriting Agreement
Underwriting Agreement (i) the introduction of legislation into the Parliament of the Commonwealth of Australia or of any State or Territory of Australia; or (ii) the public announcement of prospective legislation or policy by the Federal Government or the Government of any State or Territory or the
Slide 30: Underwriting Agreement
Underwriting Agreement Representations, warranties and undertakings Energy One gives customary representations and warranties in connection with (among other things) the Offer. Energy One gives customary undertakings to the Underwriter, including that (subject to certain exceptions) it will not issu
Slide 31: Enquiries
ENQUIRIES Mr Shaun Ankers – Group CEO and Managing Director enquiries@energyone.com 77 Pacific Highway North Sydney NSW 2060 +61 2 8916 2200 ENERGY ONE LIMITED (ASX:EOL) 31
Slide 32: Appendix - Additional Information
APPENDIX Additional Information Energy One Limited (ASX: EOL)
Slide 33: A Comprehensive Suite of Software and Services
A COMPREHENSIVE SUITE OF SOFTWARE AND SERVICES ENERGY ONE LIMITED (ASX:EOL) 33
Slide 34: EOL Group Software Makes Life Easier
EOL GROUP SOFTWARE MAKES LIFE EASIER PARTICIPANT CHALLENGES FACED EOL GROUP SOLUTIONS Generators Accurate, compliant energy spot market bidding and nominations ✓ Efficiently dispatching generation ✓ Energy operations (B2B, bid preparation, monitoring, compliance) ✓ Hedging output against volatile sp
Slide 35: Energy One Powering the Transition to Renewable Energy
ENERGY ONE POWERING THE TRANSITION TO RENEWABLE ENERGY ENERGY ONE LIMITED (ASX:EOL) 35