Envitec Biogas Ag · XETR:ETG
Envitec Biogas — German Equity Forum 2007
27 slides from Envitec Biogas's conference presentation, Nov 13, 2007
Slide 1: German Equity Forum
German Equity Forum Frankfurt/Main, Fall 2007 1
Slide 2: Agenda
Agenda I. EnviTec at a Glance II. Business Model III. Strategy IV. Market Environment V. Financial Data VI. Appendix 2
Slide 3: EnviTec at a Glance
EnviTec at a Glance Company description Corporate structure > Foundation in 2002 EnviTec Biogas AG > Based in Lohne / Lower Saxony Plant construction Plant operation > 194 modules (93,3 MWel) > 8 modules installed > Biological service: > 6 modules currently > Fully integrated contractor and operator
Slide 4: Company History
Company History Milestones > 1st order for biogas processing plant (10,000m³/h) > Initial public offering on July 12th 2007 > Integration of own plant operations > Foundation of EnviTec UK and EnviTec Netherlands > Opening of sales office in Kiev (Ukraine) > Construction of world’s largest biogas pa
Slide 5: Agenda
Agenda I. EnviTec at a Glance II. Business Model III. Strategy IV. Market Environment V. Financial Data VI. Appendix 5
Slide 6: Integrated Business Model
Integrated Business Model Plant construction Plant operation Project development / Construction Service Generation Project Plant shareholdings and Construction Ramp-up Service Management planning plant operation > Survey > Turnkey > Ramp-up > Biological service > Management for > Complete management
Slide 7: Standardised Plant Construction
Standardised Plant Construction Advantages of standardisation Biogas park Penkun Low cost deviation and high planning security Efficient construction High product quality Economies of scale via serial production > Start of operations: Q2 2007 Serial production on supplier level (above 30 modules in
Slide 8: Above-average plant efficiency
Above-average plant efficiency EnviTec’s plant efficiency Reasons 100% 91,8% > Single-stage, mesophile (35°-38°C), fully mixed 91,0% 90% 88,9% process > Accurate weighing of feedstock 80% > Daily variance analysis and calibration of gas production Sector average in 2006: 70% > High quality and stand
Slide 9: Construction of large-scale projects
Construction of large-scale projects Biogas processing to natural gas quality Biogas park Güstrow > After refinement of biogas feeding into the grid possible > Largest park for biogas processing to natural gas quality is planned in Güstrow (Biogas processing of 10,000 m³/h) > 3.5 MW standardised mod
Slide 10: Agenda
Agenda I. EnviTec at a Glance II. Business Model III. Strategy IV. Market Environment V. Financial Data VI. Appendix 10
Slide 11: Strategic Road Map for EnviTec
Strategic Road Map for EnviTec Strengthening Focused expansion Expansion of innovation of own of and biogas plant international technology portfolio, activities know-how mainly abroad 11
Slide 12: Expansion of international Activities
Expansion of international Activities 1 2 3 > Entry into selected > Expansion of presence into 1 > Status Quo 2 European markets 3 growth markets 12
Slide 13: Strengthening of Innovation and Technology Know-how
Strengthening of Innovation and Technology Know-how Comments Overview of process optimisation potential 1 Development of feedstock with higher energy efficiency Sty House Greenhouse Local heating 2 System optimisation of online-process control 5 Electricity Heat 3 Further development of gasification
Slide 14: Focused Expansion of own international Biogas Plant Portfolio
Focused Expansion of own international Biogas Plant Portfolio Development of own plant portfolio Comments Installed capacity 15 > Own biogas generation / 10 MWel by the end of 2007 in operation and under construction in MWel 10 5 10,0 > German expansion focussed on local farmers 6,3 1,8 0 2006 Q3 20
Slide 15: Agenda
Agenda I. EnviTec at a Glance II. Business Model III. Strategy IV. Market Environment V. Financial Data VI. Appendix 15
Slide 16: Very attractive Market
Very attractive Market “Multi-talent” biogas High Finiteness market and prices > Usage of a variety of feedstock growth of fossil fuels > Base load capability > Peak load capability through the possibility of storage Multi-Talent biogas Climate > Electricity and heat generation change (CO2) > Substi
Slide 17: Guaranteed Feed-in Tariffs in Europe
Guaranteed Feed-in Tariffs in Europe... Feed-in tariff composition in Germany Feed-in tariffs in Europe in EUR ct/kWh in cent/ until 150 >150 – 500 > 500 kW > 5 MW kWh kW kW – 5 MW 8,0 21.0 Germany Base tariff 11.0 9.5 8.5 8.0 14,0 NawaRo(1) – bonus 6.0 6.0 4.0 0.0 Croatia Technology bonus 2.0 2.0 2
Slide 18: ...in Connection with efficient Use of Farmland
...in Connection with efficient Use of Farmland Area structure in Germany Cultivation of „Energy Crops“ Energy content per ha Fuel returns per ha (diesel equivalent in km) in % 100% 2% Bioe thanol 22,400 Urban 13% 18% Farmland 80% 47% 23,300 Biodie s e l 35.7m ha 60% Other 6% 40% V e ge table 23,300
Slide 19: Comparison of turnover per ha of different cultivations
Comparison of turnover per ha of different cultivations Advantage of cultivating maize silage Revenue per ha 1.400 € 1.200 € 1.000 € 800 € 600 € 400 € 200 € -€ 2004 2005 2006 2007* rye maize silage * approximated 19
Slide 20: Agenda
Agenda I. EnviTec at a Glance II. Business Model III. Strategy IV. Market Environment V. Financial Data VI. Appendix 20
Slide 21: Financial key data
Financial key data Turnover EBIT +38% +69% +68 +54 36,8 102,4 26,6 60,6 16,0 2,8 4,7 10,4 Q3/2006 Q3/2007 9M/2006 9M/2007 Q3/2006 Q3/2007 9M/2006 9M/2007 EURm EURm EBT Comments +22% +70% > Strong revenue growth above market growth > Strong profitability 17,5 > Cost leadership 10,3 6,0 2,7 > Extraord
Slide 22: Installed capacity and order backlog
Installed capacity and order backlog Development of installed capacity Development of order backlog 100 150 88,2 140 135 90 130 80 73,4 120 110 70 61,9 100 60 90 85,7 85,7 80 50 70 40 60 50 30 40 20 30 20 10 10 0 0 2006 H1 2007 Q3 2007 2006 H1 2007 Oct. 2007 cumulated in MW el EURm Abroad 22
Slide 23: Own Plant Operation
Own Plant Operation Typical EBITDA margin and… Comments > EnviTec operates own biogas plants together Average: 32%-35% with third party investors (typically ≥50% interest) (EnviTec plant) > 6.3 MWel of installed capacity realised and under construction by the end of September 2007 > EBITDA margin 1
Slide 24: Outlook
Outlook Development of Turnover and EBIT Comments EURm EURm 200 40 > Concentration on organic growth 180 35 160 > Developing foreign markets/ Pole 130 - 140 30 140 position of EnviTec 120 25 20 - 22 100,7 100 20 18,5 > Good order backlog as basis for future 80 growth 15 60 10 > Increasing positive i
Slide 25: Agenda
Agenda I. EnviTec at a Glance II. Business Model III. Strategy IV. Market Environment V. Financial Data VI. Appendix 26
Slide 26: Calendar and Contact Information
Calendar and Contact Information 29. November 2007 > Interim Report Q3 2007 30. April 2008 > Full Year 2007 29. May 2008 > Interim Report Q1 2008 July 2008 > Annual Meeting 2008 28. August 2008 > Interim Report Q2 2008 27. November 2008 > Interim Report Q3 2008 EnviTec Biogas AG Joanna Rode Industri
Slide 27: Specifics of our Biogas Plants
Specifics of our Biogas Plants Description Advantages > Blending of feedstock before induction in fermenter > Easy stirring into fermenter through blending Mixing vessel > Inputs are weighed > Permanent control of inputs automatically > Fermenter construction Tank including a system tank > High qual