Slide 1: Investor Relations Presentation FY 2019
INVESTOR RELATIONS PRESENTATION FY | 2019 | Investor Relations Presentation | March 2020
Slide 2: Disclaimer
DISCLAIMER This presentation is for information purposes only and does not constitute a public offer or invitation to subscribe for or purchase any securities of PNE AG and neither this presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. This pre
Slide 3: High Project Activity in 2019
HIGH PROJECT ACTIVITY IN 2019 » 450.8 MW sold, put into operation or started construction Sold, put in operation, (2018: 235.7 MW), highlighted by projects Jasna (132 MW) started construction and Malarberget (113 MW) » Tender successes in Germany (67.8 MW) and Poland (94.8 MW) 450.8 » Assets of repo
Slide 4: High Project Activity Reflected in Improved Figures
HIGH PROJECT ACTIVITY REFLECTED IN IMPROVED FIGURES » Guidance for FY 2019 (EBITDA € 25-30m, EBIT € 15-20m) achieved or slightly exceeded EBITDA » Total output (€ 174.0m, +55% yoy) and operating result (EBITDA +91% yoy, EBIT +143% yoy) clearly improved yoy – 31.6 driven by international project sale
Slide 5: Expansion of Own Power Generation
EXPANSION OF OWN POWER GENERATION » PNE Group will expand its own wind farm operations Project MW State Status considerably in the future Kührstedt-Alfstedt 43.2 Lower Saxony in operation since Q4 2017 » Changed framework conditions and favourable financing options Gerdau-Repowering 21.6 Lower Saxon
Slide 6: Morgan Stanley Infrastructure Partners (MSIP) Becomes Largest Shareholder
MORGAN STANLEY INFRASTRUCTURE PARTNERS (MSIP) BECOMES LARGEST SHAREHOLDER » MSIP secured a total of approximately 40% of PNE AG shares becoming the largest shareholder via its takeover offer concluded in early January 2020 » Takeover price of € 4.0 per share showed a premium of ~31 percent to the un
Slide 7: Well-Filled Project Pipeline Wind Onshore
WELL-FILLED PROJECT PIPELINE WIND ONSHORE Country I – II III IV Total MW Sold/ Germany – Good activity despite delays in permitting process Services » Gerdau-Repowering (21.6 MW), Schlenzer (6.5 MW), Kittlitz (17.2 MW) and Germany 1,251 361 0 1,612 20 Neuenwalde (7.2 MW) completed and put in operati
Slide 8: Project Pipeline PV
PROJECT PIPELINE PV Country I – II III IV Total MWp Improved conditions for PV projects Germany 10 0 0 10 » Photovoltaic installations have become increasingly cost-effective and thus Romania 112 0 0 122 more marketable in the area of electricity generation USA 1 0 0 1 » Legal and economic framework
Slide 9: Clearly Improved Results
CLEARLY IMPROVED RESULTS » FY 2019 result driven by international project sales and In € m FY 2019 FY 2018 strategic expansion Sales 132.8 91.4 » Total output increased by 55% yoy, EBITDA +91% yoy, Work in progress 36.6 15.1 Other income 4.7 5.3 EBIT +143% yoy Total output 174.0 111.8 » Operating pe
Slide 10: Growth in All Business Segments
GROWTH IN ALL BUSINESS SEGMENTS FURTHER DIVERSIFICATION OF BUSINESS » Project development Total output* EBITDA* In € 250,0 m In € m » Project development output grows to €154.4m (+57%), primarily driven by international project sales 50,0 200,0 » EBITDA grows to €25.5m (+221%) 40,0 » Services 150,0
Slide 11: Balance Sheet Remains Rock Solid
BALANCE SHEET REMAINS ROCK SOLID Property, Plant and Equipment in €m as of December 31, 2019 (as of December 31, 2018) Equity » Transformer stations €13.2m 567.6 (452.6) » Equity ratio solid at 39% » Land and building €11.2m Intangible Assets 64.7 (65.1) Non-current debt » Own wind farms €143.4m 220
Slide 12: Scale Up – Execution Fully on Track
SCALE UP – EXECUTION FULLY ON TRACK 2023 … 2020 2019 2018 » Finalisation of 2017 » Add further new SCALE UP » Sale of 200MW products/services » Development of portfolio share* » Completion of project pipeline in » Product range » Start of ramp-up ramp-up phase » Completion and the 1st new market of
Slide 13: Early Extension of Strategy to Further Reduce Volatility
EARLY EXTENSION OF STRATEGY TO FURTHER REDUCE VOLATILITY » Increase own power generation portfolio in Germany (sale of wind farm portfolio 2020 will not be continued) » Individual projects, particularly abroad, will still be marketed » High project activity due to high number of MW under constructio
Slide 14: Investor Relations Presentation
INVESTOR RELATIONS PRESENTATION FY | 2019 | Investor Relations Presentation | March 2020