Slide 1: Q4 2022 and 2022 Results
Q4 2022 and 2022 Results Georg Hotar, CEO Clemens Wohlmuth, CFO Photon Energy N.V. 16 February 2023 Leeton, Australia (14.6 MWp)
Slide 2: Disclaimer
Q4 2022 and 2022 Results Disclaimer This presentation is for information purposes only and may not be copied in whole or in part for any purpose, or forwarded to third parties or published. This presentation includes written material or slides for a presentation on Photon Energy N.V. (“the Company")
Slide 3: Business Model, Strategy, Financials, Outlook 2023, Q&As
Business Model Strategy Financials Outlook 2023 Q&As Lord Howe Island, Australia (1.3 MWp / 3.7 MWh)
Slide 4: Business Model
Business Model Strategy Financials Outlook 2023 Q&As Slavkov, Czech Republic (1.2 MWp)
Slide 5: About Us
Q4 2022 and 2022 Results About Us We are dedicated to ensuring that everyone has access to clean energy and water Photon Energy Group Founded in Headquartered in 280+ Active in Shares traded 3 x BUY Sustainability 2008 Amsterdam Employees 10+ countries in PL, CZ and DE PT: EUR 3.12 - 4.40 Rating* LE
Slide 6: Our Global Presence
Our Global Presence +31.5 MWp under construction Focus on Europe and Australia Project development ► Project pipeline with a combined capacity of 900+ MWp ► Focus on Hungary, Poland, Romania and Australia Electricity generation (91.9 MWp) ► 11 proprietary power plants in the Czechia (15.0 MWp), 11 i
Slide 7: Strategy
Business Model Strategy Financials Outlook 2023 Q&As Sydney, Australia (100 kWp)
Slide 8: Lerta – New Energy Division
Q4 2022 and 2022 Results Lerta – New Energy Division About Lerta We have completed the acquisition of the Polish company to forward ► Lerta has energy trading licenses in six European markets, integrate into the energy value chain in CEE and beyond. aggregates assets using Virtual Power Plant techno
Slide 9: Expansion of Photon Energy’s Business Model
Q4 2022 and 2022 Results Expansion of Photon Energy’s Business Model Photon Energy’s Solar Business Services Lerta’s Grid and Customer Services Project Energy Development Technology O&M Off-take Energy Supply Solutions Engineering Investments Trading & VPP Demand Response The fusion of physical & di
Slide 10: Financials
Business Model Strategy Financials Outlook 2023 Q&As Aiud, Romania (4.7 MWp)
Slide 11: Highlights 2022
Highlights 2022 ► Switch of Czech portfolio to market-linked “Green Bonus” Teius support scheme as of January and switch of 43.5 MWp of our 4.8 MWp Hungarian PV portfolio to merchant electricity sales as of April. ► Commissioning of a 1.4 MWp power plant in Tolna, Hungary and construction start of o
Slide 12: Business Development
Q4 2022 and 2022 Results Business Development Proprietary portfolio, cumulated (MWp) Continued progress across all segments 100 90.5 MWp 91.9 MWp 90 ► 121.6 GWh of electricity (+17.8% YoY) generated by our 16.2 80 74.7 MWp +1.4 proprietary power plant portfolio in 2022. 70 +15.8 60 ► Connection of 1
Slide 13: Q4 2022 and FY 2022 Financial Results
Q4 2022 and 2022 Results Q4 2022 and FY 2022 Financial Results Income Statement In thousand EUR Q4 2021 Q4 2022 Change in % FY 2021 FY 2022 Change in % Total revenues 11,734 26,438 125.3% 36,359 94,223 159.1% of which from electricity generation 3,008 3,820 27.0% 19,402 35,239 81.6% EBITDA 1,030 1,2
Slide 14: FY 2022 Financial Results: Balance Sheet
Q4 2022 and 2022 Results Q4 2022 and FY 2022 Financial Results Assets Total assets EUR 250,000 240.2 M +22.2% 225,000 EUR 21.4 M Balance Sheet 200,000 Total assets +23.7% 196.6 M EUR 47.7 M 175,000 158.9 M 39.4 M ► Increase of Fixed assets: mainly resulting from the increase of our 150,000 14.3 M 14
Slide 15: FY 2022 Financial Results: Cash Flow
Q4 2022 and 2022 Results Q4 2022 and FY 2022 Financial Results Cash Flow ► Positive Operating cash flow driven by operating result adjusted by negative In thousand EUR 2020 2021 2022 net working capital, including increased inventories in line with the strong growing Technology sales and our procure
Slide 16: Outlook 2023
Business Model Strategy Financials Outlook 2023 Q&As Aiud, Romania (4.7 MWp)
Slide 17: Photon Energy: Outlook for 2023
Q4 2022 and 2022 Results Photon Energy: Outlook for 2023 In thousand EUR Guidance 2023 Revenue and EBITDA Guidance 160,000 Total revenues 150,000 +59.2% 140,000 ► Revenues projected to reach EUR 150.0 million 120,000 representing a 59.2% increase YoY. 100,000 94,223 80,000 ► Leading to a 20.5% YoY E
Slide 18: Q&As
Business Model Strategy Financials and Outlook Q&As
Slide 19: Annex
= Photon Energy Group Annex
Slide 20: The Future of Our Business is the Energy Market
Q4 2022 and 2022 Results The Future of Our Business is the Energy Market High energy prices in our key markets Comparison German Base Load Price EEX in EUR/MWh Electricity spot price / Electricity Forward price 300 Key Figures daily average 2024 EU CAP? EEX January 22 31 January 2023 LCOE PE EEX cur
Slide 21: Overbuilding and Using Trackers Makes the Investment More Attractive
February 2023 Overbuilding and Using Trackers Makes the Investment More Attractive Daily production profile (fixed and trackers) vs HUPX DAM hourly electricity prices 0.50 Fixed-tilt Maximum available grid capacity installation 0.45 0.40 0.35 Electricity Price (EUR/MWh) Power (kW) 0.30 0.25 WEST EAS
Slide 22: Business Model: Solar Services
Q4 2022 and 2022 Results Business Model: Solar Services Our services cover the entire Project Development lifecycle of photovoltaic systems. We develop projects in-house and acquire them at all stages of development. Operations and Maintenance Engineering (EPC) We provide a full range of O&M We desi
Slide 23: Business Model: Water Services
Q4 2022 and 2022 Results Business Model: Water Services Our comprehensive services and Treatment solutions help to make clean water We deliver treatment solutions including potable and accessible to everyone. wastewater treatment, hazardous liquid waste and industrial water treatment. Remediation We
Slide 24: RayGen Technology to Accelerate Further Capacity Growth
Q4 2022 and 2022 Results RayGen Technology to Accelerate Further Capacity Growth About the technology About our partnership ► RayGen has combined its proprietary solar technology, ► Photon Energy made a minority equity investment in the company in April PV Ultra, with its unique storage system, Ther
Slide 25: Photon Water – Business Opportunity Still Not Priced In
Q4 2022 and 2022 Results Photon Water – Business Opportunity Still Not Priced In Nano-remediation is our answer to the global problem of PFAS contamination in ground water Definition of Global Hazard Our Nano-remediation solution Per- and polyfluorinated substances (PFAS) – group of It is a propriet
Slide 26: Our Share
Q4 2022 and 2022 Results Our Share Research ISIN NL0010391108 Institution Rating Target Price* Shares outstanding 61,238,521 AlsterResearch Buy EUR 4.40 PLN 20.64 CZK 106 Shares in free-float 17,618,192 IPOPEMA Buy EUR 3.11 PLN 14.58 CZK 75 Market cap 01.02.2023 EUR 159 million Net debt 31.12.2022 E
Slide 27: GREEN EUR Bond 2021/27
Q4 2022 and 2022 Results GREEN EUR Bond 2021/27 Bond GREEN EUR Bond 2021/2027 Volume EUR 77.5 million Coupon 6.50% p.a., quarterly payment Initial offering 23 November 2021 ► IMUG | rating – second party opinion, Ratings/Awards ► KFM Barometer 4 of 5 stars ► Best Issuer Green SME Bonds 2021 Segment