Ellaktor Sa · ATHEX:ELLAKTOR
Ellaktor Sa — El.Tech. Anemos — H1 2018 Earnings Presentation
14 slides from Ellaktor Sa's earnings presentation, September 2018
Slide 1: 6m 2018 Results
6m 2018 Results September 2018
Slide 2: Calendar of main events
Calendar of main events Energy yield & performance +34,2% energy yield 28,5% capacity factor 98,7% weighted average availability New capacity 17,1 MW Kalogerovouni W/F : Operation Permit granted (05/2018) 9,9 MW Pefkias W/F : Operation Permit granted (06/2018) 18,9 MW Gropes W/F : Op
Slide 3: Financial highlights
Financial highlights Revenues Increased by 31,4% • Reached € 29,4 ml vs € 22,3 ml in 6m 2017, reaping the rewards of both, a windy period with capacity factor rise by +23% (from 23,1% to 28,5%) and +20% rise in installed capacity (from 240,9 MW to 289,1 MW). EBITDA Increased by 44,6% • Increased to
Slide 4: Evolution of key P&L figures (IFRS in € ml)
Evolution of key P&L figures (IFRS in € ml) Revenues EBITDA & EBITDA margin (%) 50 100% 60 76,4% 49,7 40 70,1% 69,4% 80% 50 45,2 69,2% 67,2% 40,1 40 30 33,4 60% in € mn 29,4 in € mn 31,3 30 22,3 28,1 20 40% 20 22,4 10 10 15,5 20% 0 0 0% 2015 2016 2017 6m '17 6m '18 2015 2016 2017 6m '17 6m '18 Profi
Slide 5: Evolution of key Balance Sheet figures (IFRS in € ml)
Evolution of key Balance Sheet figures (IFRS in € ml) Total Assets Total Equity 500 160 147,3 424,3 139,7 409,3 132,7 122,4 400 352,6 328,6 120 300 in € mn in € mn 80 200 40 100 0 0 2015 2016 2017 6m '18 2015 2016 2017 6m '18 Net Debt Operating power plants (as of 30.06.2018) 200 172,3 173,4 Wind fa
Slide 6: RES Asset Portfolio (Aug. 2018)
RES Asset Portfolio (Aug. 2018) RES operating plants & pipeline projects by Geography RES projects by development phase (MW) (MW) 39.1 28.8 40.0 69.6 (1) 76.8 429 5.0 MW 98.0 Pipeline 90.0 9.0 560 15.0 48.2 114.8 6.4 1.2 9.9 24.3 311 289 60.5 2.0 202 174.8 6.0 118 Wind (Operating) Application Produc
Slide 7: Strategy Going Forward – Maintain Growth Profile
Strategy Going Forward – Maintain Growth Profile Base is and will continue to be Greece. Focus on WIND. Market Segment Track & adapt to market developments. Evaluating investment opportunities in European Union. Continue to develop pipeline with high quality sites (capacity factors in line
Slide 8: 2018 – 2020 investment program (202 MW)
2018 – 2020 investment program (202 MW) PROJECTS' IDs and CURRENT STATUS Site MW GWh/yr(1) Wind Turbine Generator €/ΜWh Status Tetrapolis Ext. Kefalonia 6,4 16 Enercon E-48/0,8 MW FiP 98 Under construction Kassidiaris I Ioannina 50,4 114 Vestas V 136/3,6 MW FiP 98 Under construction Kassidiaris II I
Slide 9: Performance
Performance Capacity factors by project 6m 2018 vs. 6m 2017 Net Income after minorities (€/MWh) 60% 25 22,4 2017-H1 2018-H1 50% 20 40% 30% 15 13,7 20% 10 10% 0% 5 0 2017-H1 2018-H1 Wind, hydro, solar Wind only 6m 2017 6m 2018 6m 2017 6m 2018 Capacity factor (%) 23,1% 28,5% Capacity factor (%) 23,1%
Slide 10: Group Asset Performance Details
Group Asset Performance Details Mean Long Installed Licensed Operation Energy yield (GWh) annual Tariffs Term Power plant Site Company / SPV Stake Capacity Capacity License (€/MWh) availability Yield (MW) (MW) Date 2015 2016 2017 2015-17(2) (GWh/yr) Antissa Lesvos EL.TECH.ANEMOS S.A. 100% 4,20 4,20
Slide 11: Consolidated P&L
Consolidated P&L 30/6/2018 30/6/2017 % change (€ thousands) IFRS IFRS Revenue 29.352 22.343 31,4% Revenues rose by 31,4% reaping the Cost of goods sold (13.911) (11.582) rewards of a windy period & increased capacity. Gross Margin 15.441 10.762 EBITDA 22.422 15.509 44,6% EBITDA rose by 44,6% as
Slide 12: Consolidated Balance Sheet
Consolidated Balance Sheet 30/6/2018 31/12/2017 % change (€ thousands) IFRS IFRS Fixed assets 349.500 343.124 1,9% Non-current assets increased by 4,6% Intangible assets 23.722 14.437 64,3% reflecting increased investments in new capacity Permit acquisitions & fixed Other non-current assets 2.922
Slide 13: Consolidated Cash Flows
Consolidated Cash Flows 30/6/2018 30/6/2017 % change (€ thousands) IFRS IFRS Cash Flow from Operations Profit Before Tax 10.456 5.590 87% Operating cash flows rose overall Adjustments for: by 10% reflecting increased Depreciation 6.538 5.601 profits. Provisions 49 45 Profit / Loss from investments
Slide 14: Disclaimer
Disclaimer This presentation has been prepared by EL.TECH. ANEMOS S.A. (the “Company”). The information contained in this presentation has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy