Aemetis, Inc · NASDAQ:AMTX
Aemetis — Investor Presentation (September 2019)
18 slides from Aemetis's investor presentation, Sep 11, 2019
Slide 1: Aemetis Presentation
Aemetis Presentation September 2019
Slide 2: Disclaimer
Disclaimer Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or event
Slide 3: At A Glance
At A Glance Aemetis is a renewable fuels company producing low carbon products to replace petroleum by the acquisition, development and commercialization of innovative technologies. Current Operations − California Ethanol Plant at Keyes, California Key Facts as of June 2019 • 65 million gallon per
Slide 4: Our Market Opportunity
Our Market Opportunity Federal and California low carbon renewable fuel standards require certain obligated parties to blend increasing amounts of renewable fuels into transportation fuel sold in the United States. Renewable fuels with lower carbon scores, such as dairy biogas and cellulosic bio
Slide 5: Highly Experienced Management and Board of Directors
Highly Experienced Management and Board of Directors Eric McAfee - Chairman of the Board and CEO Founder of Aemetis (NASDAQ: AMTX) and co-founder of $1.6 billion revenues Pacific Ethanol (NASDAQ: PEIX) Founding shareholder of oil production company Evolution Petroleum (NYSE: EPM) Founded seven
Slide 6: Plan for Revenue and Earnings Growth: California Ethanol Plant
Plan for Revenue and Earnings Growth: California Ethanol Plant California Ethanol Plant (TTM) Increase EBITDA by $15 million Lowered Carbon Intensity score to increase Ethanol Production 65 million gallons EBITDA by $3 million per year (Q2 2019) Installing ZEBREXTM Mitsubishi membrane Wet Distiller’
Slide 7: Plan for Revenue and Earnings Growth: India Biodiesel Plant
Plan for Revenue and Earnings Growth: India Biodiesel Plant India Biodiesel Plant EBITDA $12 million run rate by YE 2019 Awarded $23 million India government contract Biodiesel Capacity 50 million gallons for biodiesel supply in 2019 Built regional distribution locations for Refined Glycerin Capacit
Slide 8: Plan for Revenue and Earnings Growth: Dairy Biogas System
Plan for Revenue and Earnings Growth: Dairy Biogas System Aemetis Biogas Digesters, Pipeline and Compression Project Constructing biomethane digesters at a dozen dairies near existing California plant connected by pipeline to a gas cleanup and compression facility to collect dairy biogas to produce
Slide 9: Plan for Revenue and Earnings Growth: Waste Wood Ethanol Plant
Plan for Revenue and Earnings Growth: Waste Wood Ethanol Plant Aemetis Waste Wood Ethanol Project A patented technology from InEnTec with proven gas fermentation technology from LanzaTech creates high-value, low- carbon cellulosic ethanol from waste wood generated from 1.5 million acres of almond an
Slide 10: Our Waste Wood Ethanol Plant Market Opportunity
Our Waste Wood Ethanol Plant Market Opportunity The higher price obtained by producing renewable fuels with lower carbon intensity combined with reduced costs from using waste feedstocks significantly increases profit margins. Waste Wood Ethanol EBITDA 66% Price Traditional Ethanol EBITDA 3% G&A 3
Slide 11: Waste Wood Ethanol Plant
Waste Wood Ethanol Plant Projected Income Statement for Waste Wood Ethanol Plant1 2019F 2020F 2021F 2022F 2023F Plant Capacity 0% 13% 100% 100% 100% (Amounts in millions) Revenue $0 $11.3 $82.3 $82.1 $82.8 COGS 0 7.4 31.4 31.5 31.8 Operating Expenses 2.3 2.5 2.8 2.5 2.5 Net Income (2.6) (9.3) 36.4 3
Slide 12: Revenue and EBITDA Growth Plan
Revenue and EBITDA Growth Plan Projected Consolidated Revenues and EBITDA Summary 1 Revenues (in millions) 2018 2019F 2020F 2021F 2022F 2023F California Ethanol Plant $150.0 $152.0 $153.4 $156.9 $157.2 $158.9 India Biodiesel Plant 21.5 48.4 87.7 116.1 167.7 212.9 Dairy Biogas System - 2.4 11.3 32.5
Slide 13: Slide 13
Slide 14: Appendix A
Appendix A Aemetis, Inc. Project Investments (Amounts in millions) March 31, 2019 Comments California Ethanol Plant – physical assets $145 Build/upgrade cost California Ethanol Plant – development value 88 Development cost India Biodiesel Plant 22 Build/upgrade cost Dairy Digester System 9 Equity in
Slide 15: Appendix B
Appendix B Aemetis, Inc. Capital Stack (Amounts in millions, except EPS) March 31, 2019 Rate Terms Third Eye Capital and Related Entities - Notes $125.1 15.16% Senior Secured Subordinated Notes 16.1 8.14% Subordinated EB-5 Funding 38.5 1.00% Non-Callable Redeemable Preferred Equity 8.6 - - Total $18
Slide 16: Appendix C
Appendix C Aemetis, Inc. Income Statement (Amounts in millions, except EPS) 2016 2017 2018 Revenue $143.2 $150.2 $171.5 COGS 131.6 146.8 166.1 Operating Expenses 12.4 15.6 16.3 Interest and Other Expenses 14.8 19.6 25.3 Net Income / (loss) $(15.6) $(31.8) $(36.2) Adjusted EBITDA $5.1 $(6.3) $(4.3) E
Slide 17: Appendix D
Appendix D Aemetis, Inc. Balance Sheet (Amounts in millions, except EPS) 2016 2017 2018 Assets Current Assets $7.0 $11.5 $10.3 Property, Plant and Equipment 66.4 78.8 78.5 Goodwill, Intangibles and Other Assets 4.4 4.0 3.0 Total Assets $77.8 $94.3 $91.8 Liabilities and Equity Current Liabilities $27
Slide 18: Appendix E
Appendix E Aemetis, Inc. Adjusted EBITDA (Amounts in millions, except EPS) 2016 2017 2018 Net loss attributable to Aemetis, Inc (15.6) $(30.3) $(33.0) Adjustments Interest expense 11.5 17.8 22.1 Depreciation expense 4.6 4.6 4.6 Share-based compensation 0.8 1.2 1.0 Loss on debt extinguishment (2.0) -