Ellomay Capital Ltd · AMEX:ELLO
Ellomay Capital — Investor Presentation (November 2016)
29 slides from Ellomay Capital's investor presentation, Nov 10, 2016
Slide 1: Investor Presentation November 2016
מצגת לשוקההון Investor Presentation November 2016
Slide 2: General disclaimer and forward-looking statements
General: The information contained in this presentation is subject to, and must be read in conjunction with, all other publically available information, including our Annual Report on Form 20-F for the year ended December 31, 2015, and other filings that we make from time to time with the SEC. Any p
Slide 3: Company Overview
Ellomay operates in the energy and infrastructure growing sectors including renewable and clean energy. The Company’s shares are traded on the NYSE MKT and the Tel Aviv Stock Exchange with a market cap of approximately $87 million (as of October 31, 2016) and is controlled by Mr. Shlomo Nehama (Chai
Slide 4: Corporate Structure
Dorad Energy Ltd. (“Dorad”) PV Kanir Partnership Shlomo Nehama 31.4%2 31%3 9.4%~ 100% 37.6% Development Project – Pumped Storage 75% Corporate Structure The public and others Shareholders agreement1 16 photovoltaic plants in Italy and Spain, with aggregate installed capacity of ~30.5 MWp, all connec
Slide 5: Milestones
Entrance to Italian PV Market (acquisitions 2010 - 2013) Acquired indirect equity interest in Dorad Energy Ltd. Listing in NYSE MKT Public Debenture Issuance (il A- ,Maalot S&P IL) 2010 2011 2012 2013 2014 2015 Listing in TASE Entrance to Spanish PV Market Commencement of Dorad Power Plant’s Commerc
Slide 6: Portfolio Summary
850 MW1 22.6 MWp 7.9 MWp Installed Capacity 9.4%~ 100% 100% % Ownership ~ $38.7M4 ~ $76.7M3 ~ $21.2 M3 Book Value of investment2 20345 2031~ 2040-2041 License Expiration 1 12 4 # of Power Plants Spain (PV) Italy (PV) Israel (CCGT1) Portfolio Summary The Dorad Power Plant began commercial operation i
Slide 7: Photovoltaic Operations: Italy and Spain
Photovoltaic Operations: Italy and Spain
Slide 8: Production of clean energy represents a growing portion of energy production
Production of clean energy represents a growing portion of energy production. Today, the majority of the energy supply in the world is still produced using fossil fuels, such as coal, oil and natural gas. The use of these traditional energy sources raises a number of challenges, including price vola
Slide 9: PV Plants in Italy
Project name Installed Capacity (kWp) Acquisition Year Acquisition Cost per MWp (in millions) Connection Date1 Technology Region FiT1 Eurocent/KWh Del Bianco 734 2010 €2.9 04/2011 Fix Marche 32.15 Costantini 734 2010 €2.9 04/2011 Fix Marche 32.15 Giacchè 730 2010 €3.8 04/2011 Trackers Marche 32.15 M
Slide 10: PV Plants in Spain
Project name Installed Capacity(kWp) Acquisition Year Acquisition Cost per MWp (in millions) Connection Date1 Technology Location Expected annual revenues (€ thousand) Rodríguez I 1,675 2014 €1.55 11/2011 Fix Murcia ~ 570 Rodríguez II 2,690 2014 €1.78 11/2011 Fix Murcia ~ 960 Fuente Librilla 1,248 2
Slide 11: Dorad Power Plant, Ashkelon, Israel
Dorad Power Plant, Ashkelon, Israel
Slide 12: Dorad Power Plant overview
The Dorad Power Plant is one of the largest private power plant in Israel, with installed capacity of approximately 850 MW. The plant is a CCGT bi-fuel plant and powered by natural gas. The Dorad Power Plant is comprised of twelve natural gas turbines, and two steam turbines. Ellomay indirectly hold
Slide 13: Dorad Power Plant Key P&L and Cash Flow Figures
2015 Q2 2015 Q2 2016 Revenues 2,357 1,167 1,126 Gross profit from operating the power plant 382 131 127 Operating profit 357 118 119 Net income 103 10 13 EBITDA1 567 225 223 Finance expenses, net (216) (104) (107) Net increase (decrease) in cash and cash equivalents for the period, including effect
Slide 14: Pumped-Storage Development Project Manara Cliff, Israel
Pumped-Storage Development Project Manara Cliff, Israel
Slide 15: Pumped-storage project: the solution in a nutshell
Hydro-electric storage system comprised of two water reservoirs (upper and lower), connected through an underground water pressure pipe. Energy is stored by pumping water from lower to upper reservoir and generated by releasing the water back. Sustainable technology – working for over 100 years. Thi
Slide 16: Manara Pumped Storage Project
340 MW 2 Ellomay Pumped Storage (2014) Ltd. Ellomay Capital Ltd. – 75% 1Sheva Mizrakot Ltd. – 25% Capacity Shareholders Company Pumped-Storage Project Indirectly owned through the project company.During 2015 the company finalized the initial development stage of the Manara PSP and on August 28, 2015
Slide 17: Expected Projects
Expected Projects — ellomay.
Slide 18: Waste-to-Energy Projects
Waste-to-Energy Projects Biomethane injection Biogas plant Electricity Heat Biomethane treatment Organic matter Fertilizers Biogas: the combustible product of the anaerobic digestion of different biomass substrates including manure, agro-residues and organic waste. Green gas:(bio-methane) is defined
Slide 19: The Potential of the Dutch Biogas Market
The Potential of the Dutch Biogas Market The Netherlands produces over 76 million tons of manure per year (source CBS, 2013).Approximately 10% of the market has to be processed due to stringent regulatory requirements (“overmest”). Maximum biogas potential is expected to triple between 2020 to 2030
Slide 20: Strategic Collaboration with Ludan
Strategic Collaboration with Ludan Pursuant to the Agreement, subject to the fulfillment of certain conditions (including the financial closing of each project and receipt of a valid Sustainable Energy Production Incentive subsidy from the Dutch authorities and applicable licenses), the Company will
Slide 21: Projects in the United States
Projects in the United States Biogas opportunities RoadmapProgress Report The U.S. Department of Agriculture (USDA), U.S. Department of Energy (DOE), and U.S. Environmental Protection Agency (EPA) created the Roadmap as a response to the White House Climate Action Plan’s directive to develop an inte
Slide 22: Financial Results
Financial Results
Slide 23: Key Balance Sheet Figures
December 31, 2015 % Of BS June 30, 2015 % Of BS June 30, 2016 % Of BS Cash and cash equivalent, Marketable securities, Short-term deposits 25,216 16% 16,729 11% 22,230 14% Financial Debt* 58,852 37% 56,626 36% 59,414 37% Financial Debt, net* 33,636 21% 39,897 25% 37,184 23% Property, plant and equip
Slide 24: Key Financial Ratios
Key Financial Ratios December 31, 2015 June 30, 2015 June 30, 2016 Financial Debt to CAP (A/D) 38% 38% 39% Financial Debt, net to CAP (B/D) 22% 27% 25% Financial Debt to Total equity (A/C) 63% 62% 65% Financial Debt, net to Total equity (B/C) 36% 43% 41% Strong Balance Sheet, Sufficient Liquidity, L
Slide 25: Key Income and P&L Figures
(USD millions) Key Income and P&L Figures See below for a reconciliation of Net Income (Loss) to EBITDA.
Slide 26: EBITDA
EBITDA EBITDA is a non-IFRS measure and is defined as earnings before financial expenses, net, taxes, depreciation and amortization. The Company presents this measure in order to enhance the understanding of the Company’s and Dorad’s historical financial performance and to enable comparability betwe
Slide 27: Summary
1 2 3 4 Summary Diversified and growing base of cash flow generating assets. The Company is characterized by low leverage and revenues based on regulatory tariffs. Focus on small/medium commercial projects with limited capex and operational risks. Seasoned management team, with extensive sector know
Slide 28: Thank you! Investor Relations contacts
www.ellomay.com Investor RelationsHadas FriedmanKM Investor relations Direct: +972 (0)3-5167620hadas@km-ir.co.ilwww.km-ir.co.il CompanyKalia WeintraubChief Financial OfficerEllomay Capital LTD.9 Rothschild Blvd., Tel AvivDirect: +972-3-7971111Email: anatb@ellomay.com Thank you!
Slide 29: Appendix A – Leverage Ratios
Appendix A – Leverage Ratios As of December 31, As of June 30, As of June 30, 2015 2015 2016 Audited Unaudited Unaudited Current liabilities Loans and borrowings (1,133) (1,462) (1,208) Debentures (4,878) (5,044) (4,973) Non-current liabilities Finance lease obligations (4,724) (5,032) (4,658) Long-
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