EnergieKontor AG · XETR:EKT
EnergieKontor — ODDO BHF Forum 2024
37 slides from EnergieKontor's conference presentation, Jan 16, 2024
Slide 1: Company Presentation ODDO BHF Forum
Company Presentation ODDO BHF Forum Virtual 16 January 2024
Slide 2: Agenda
Agenda 1) Energiekontor at a glance 2) Financial year 2022 3) First half-year 2023 4) First nine months 2023 5) Outlook and mid-term strategy 6) Share and shareholder structure 7) Additional information
Slide 3: Energiekontor at a glance
Energiekontor at a glance A solid business policy and extensive experience in renewable energies for >30 years ▪ Founded in Bremerhaven, We are a leading Germany, in 1990 German project ▪ Headquartered in Bremen ▪ Additional offices in Germany developer and operator and abroad (UK, PT, FR, US) of on
Slide 4: The three pillars of our success – Our business divisions
Energiekontor at a glance The three pillars of our success – Our business divisions Project Covering the entire value chain from development & sales acquisition, planning, commissioning to sale; (onshore wind, solar) incl. repowering Energiekontor AG Power generation in Recurring revenues from the s
Slide 5: Strong track record with >150 realised projects
Energiekontor at a glance We can look back on a strong track record with >150 realised projects so far >150 realised wind and solar parks >1.3 GW total generation Green energy for capacity Power generation >825,000 households >2.6 billion kwh p.a. Saving >2.0 million tons of CO2 p.a. Energiekontor A
Slide 6: We are close to the market – Across 5 countries
Energiekontor at a glance We are close to the market – Across 5 countries at 17 company sites United Kingdom 3 Germany United States France 2 9 2 Portugal 1 Energiekontor AG / Company Presentation / ODDO BHF Forum / 16 January 2024 6
Slide 7: As an IPP, >390 MW own capacity
Energiekontor at a glance As an IPP, we are well positioned with a total of >390 MW own capacity (growing) Germany United Kingdom Portugal 33 3 4 wind and wind parks wind parks solar parks ca. 294 MW ca. 60 MW ca. 38 MW Energiekontor AG / Company Presentation / ODDO BHF Forum / 16 January 2024 7
Slide 8: Pioneers of change – Our mission statement
Energiekontor at a glance Pioneers of change – Our mission statement is more relevant than ever before 100% renewable energy As a pioneer in renewable energy, we are actively shaping the transition to 100% renewables. Concentrating on our core competences and innovation will drive our business to a
Slide 9: Our vision is 100% renewable energy
Energiekontor at a glance Taking an active role in shaping the future - Our vision is 100% renewable energy Short term Long term Realisation of wind and … at generation costs solar parks in all country … without public subsidies … below those of conventional markets … power plants. Energiekontor AG
Slide 10: We grow organically and sustainably
Energiekontor at a glance We grow organically and sustainably while maintaining our financial stability ~50% own portfolio Power generation in the Group‘s own wind Project and solar parks development 100% cost Group EBT coverage & sales (+10% to +20% p.a.) (onshore wind, Operation, solar) developmen
Slide 11: Our main strategic points
Energiekontor at a glance As a pioneer of the energy transition, we focus on our main strategic points Continuous Established expansion of Business Realisation on “Regional technologies own park build-up and free of state principle” (onshore wind, portfolio (IPP) by expansion subsidies in all with l
Slide 12: Regional presence of our teams is our strategic success factor
Energiekontor at a glance The regional presence of our teams is our strategic success factor Decentralised Close structures and proximity to hierarchies relevant stakeholders, land owners and local authorities Energiekontor AG / Company Presentation / ODDO BHF Forum / 16 January 2024 12
Slide 13: Economic and political market conditions - Current challenges
Energiekontor at a glance Economic and political market conditions - Current challenges Long lasting Prolonged Continuing Price planning and delivery times Increased acceptance increases by approval and realisation interest rates problems manufacturers procedures processes High global demand Politic
Slide 14: Economic and political market conditions – Counter measures
Energiekontor at a glance Economic and political market conditions – Counter measures Secured Increased Leverage New Additional electricity profitability of improved transaction boost by remuneration construction regulatory structures for optimisation for existing projects with conditions project sa
Slide 15: Agenda
Agenda 1) Energiekontor at a glance 2) Financial year 2022 3) First half-year 2023 4) First nine months 2023 5) Outlook and mid-term strategy 6) Share and shareholder structure 7) Additional information
Slide 16: Financial year 2022 Profit and loss statement (Group)
Financial year 2022 Profit and loss statement (Group) In € million 2022 2021 Change Sales 187.6 156.5 19.9% Total output 255.7 266.3 -4.0% EBITDA 99.8 81.7 22.2% EBIT 80.0 61.7 29.7% EBT 62.9 44.9 40.1% Group result 44.5 36.2 22.9% Earnings per share (in €) 3.18 2.54 25.2% Energiekontor AG / Company
Slide 17: Financial year 2022 Balance sheet (Group)
Financial year 2022 Balance sheet (Group) In € million 31/12/2022 31/12/2021 Change Cash & cash equivalents 127.0 100.0 27.0% Long-term liabilities 342.8 263.3 30.2% Short-term liabilities 167.1 180.9 -7.6% Equity 123.7 82.2 50.5% Equity ratio (in %) 19.5 14.6 4.9 pp Balance sheet total 633.6 562.0
Slide 18: Agenda
Agenda 1) Energiekontor at a glance 2) Financial year 2022 3) First half-year 2023 4) First nine months 2023 5) Outlook and mid-term strategy 6) Share and shareholder structure 7) Additional information
Slide 19: Continued growth course in H1 2023
First half-year 2023 Operational progress Continued H1 2023 2022 growth course Wind/solar Generation Wind/solar Generation in H1 2023 park projects (number) capacity park projects (MW/MWp) (number) capacity (MW/MWp) Project sales 4 116 8 96 >80% of Under construction 11 ca. 214 10 165 total track re
Slide 20: Strong project pipeline expansion by ~600 MW
First half-year 2023 Strong project pipeline expansion by ~600 MW in total vs. 31/12/2022 >2.0 GW 10,844 5,566 (10,030) 2,447 1,179 (814) 599 239 Value creation → 1% - 2% 6% – 8% 35% - 40% 45% - 50% 5% - 10% Cumulative → 1% - 2% 8% - 10% 45% - 50% 90% - 95% 100% US project rights Phase 1 Phase 2 Pha
Slide 21: Project pipeline diversification
First half-year 2023 Project pipeline diversification Regional diversification Technological diversification 7.2% 7.5% 31.3% ~10.8 GW ~10.8 GW 28.9% 56.4% 68.7% Germany United Kingdom Onshore wind Solar/PV United States France Energiekontor AG / Company Presentation / ODDO BHF Forum / 16 January 202
Slide 22: First half-year 2023 Profit and loss statement (Group)
First half-year 2023 Profit and loss statement (Group) In € million H1 2023 H1 2022 Change Sales 65.2 52.5 24.2% Total output 110.5 88.0 25.6% EBITDA 47.2 30.7 53.7% EBIT 36.7 20.5 79.0% EBT 27.8 12.2 127.9% Group result 21.0 8.5 147.1% Earnings per share (in €) 1.50 0.61 145.9% Energiekontor AG / C
Slide 23: Sales and EBT contribution by segment & balance sheet details
First half-year 2023 Sales and EBT contribution by segment & balance sheet details Project development & sales (onshore wind, solar) Balance sheet In € million H1 2023 H1 2022 Change In € million 30/06/2023 31/12/2022 Change Sales (external) 19.8 13.0 52.3% Total assets 643.7 633.6 1.6% EBT 9.3 -3.5
Slide 24: Agenda
Agenda 1) Energiekontor at a glance 2) Financial year 2022 3) First half-year 2023 4) First nine months 2023 5) Outlook and mid-term strategy 6) Share and shareholder structure 7) Additional information
Slide 25: Project pipeline expanded
First nine months 2023 Key developments ▪ Project pipeline expansion at all levels Project ▪ Own generation capacity slightly increased pipeline expanded ▪ Successful bid in British tender process again ▪ Further commissionings, financial closes – and sales expected in Q4 2023 guidance ▪ Guidance co
Slide 26: Well-filled project pipeline already exceeding FY 2022
First nine months 2023 Operational progress Well-filled project 9M 2023 2022 pipeline already Wind/solar Generation Wind/solar Generation exceeding FY 2022 park projects (number) capacity park projects (MW/MWp) (number) capacity (MW/MWp) Project sales 4 116 8 96 >80% of Under construction 7 220 10 1
Slide 27: Agenda
Agenda 1) Energiekontor at a glance 2) Financial year 2022 3) First half-year 2023 4) First nine months 2023 5) Outlook and mid-term strategy 6) Share and shareholder structure 7) Additional information
Slide 28: Forecast for 2023 raised on 15 December 2023
Outlook and mid-term strategy Forecast for 2023 raised on 15 December 2023 OLD NEW 13/11/2023 15/12/2023 In € million 2022(R) 2023(G) 2023(G) 2023(G) Group 62.3 +10% to +20% +30 to +60% 80 to 100 Project development & sales 28.4 Signif. increase Signif. increase Power generation (own parks) 30.0 Bel
Slide 29: Growth strategy 2023 – 2028
Outlook and mid-term strategy Growth strategy 2023 – 2028 Key strategic directions Strategic target: ▪ Growth based on proven organic growth model EBT EBT (50/50 takeover rate) doubling until 2028 ▪ Focus on established technologies (onshore wind and solar); further expansion of solar business ▪ Con
Slide 30: Agenda
Agenda 1) Energiekontor at a glance 2) Financial year 2022 3) First half-year 2023 4) First nine months 2023 5) Outlook and mid-term strategy 6) Share and shareholder structure 7) Additional information
Slide 31: Share and shareholder structure Basic information
Share and shareholder structure Basic information Key share data Shareholder structure1 WKN ∙ ISIN 531350 ∙ DE0005313506 Bloomberg ∙ Reuters EKT Class of shares No-par-value bearer shares Listing Deutsche Börse, Frankfurt Founders Marketplaces XETRA, Frankfurt, all other German marketplaces (Dr. B.
Slide 32: Dividend payout and analysts coverage
Share and shareholder structure Dividend payout and analysts coverage Dividends Coverage €1.00 €0.90 Broker/Institute Recommendation Price target Last update €0.80 First Berlin Buy €134.00 18/12/2023 Hauck & Aufhäuser Buy €136.00 20/12/2023 €0.40 €0.40 Metzler Buy €121.00 19/12/2023 M.M. Warburg Buy
Slide 33: Share price performance vs. benchmark indices
Share and shareholder structure Share price performance vs. benchmark indices Date Closing price 30/12/2022 €77.00 130 28/03/2023 €59.70 (low) 31/08/2023 €87.50 (high) 120 29/12/2023 €82.70 (+7.4%) 110 100 90 80 70 30.12.2022 30.03.2023 30.06.2023 30.09.2023 31.12.2023 Energiekontor SDAX Price Index
Slide 34: Agenda
Agenda 1) Energiekontor at a glance 2) Financial year 2022 3) First half-year 2023 4) First nine months 2023 5) Outlook and mid-term strategy 6) Share and shareholder structure 7) Additional information
Slide 35: Financial calendar and news
Additional information Financial calendar and news Date Event Location/type 28 March 2024 Figures for the 2023 financial year Publication 13 May 2024 Interim statement on the first quarter of 2024 Publication 29 May 2024 Annual General Meeting Ritterhude 12 August 2024 Half-year financial report for
Slide 36: Contact
Additional information Contact Investor & Public Relations Julia Pschribülla Head of Investor & Public Relations Tel: +49 (0)421-3304-126 Email: [email protected] Energiekontor AG Mary-Somerville-Strasse 5 28359 Bremen Germany Phone: +49 (0)421-3304-0 Fax: +49 (0)421-3304-444 Email: info@energiek
Slide 37: Disclaimer
Disclaimer The information in this presentation does not constitute an offer to buy or sell securities or a solicitation of an offer to buy securities but is provided for informational purposes only. The information contained in this presentation is directed exclusively at interested parties domicil