Ellaktor Sa · ATHEX:ELLAKTOR
Ellaktor Sa — Eltech Anemos — 9M 2017 Earnings Presentation
13 slides from Ellaktor Sa's earnings presentation, November 2017
Slide 1: 9m 2017 Results
9m 2017 Results November 2017
Slide 2: Calendar of main events
Calendar of main events Energy yield +7,5% increase in energy yield Overall performance − 24,2% capacity factor − 98,8% weighted average availability Wind farm investments − 39,6 MW Lyrkio W/F: operating − 2,35 MW Agia Dynati Extension W/F: commissioned − 17,1 MW Kalogerovouni W/F: erection co
Slide 3: Financial highlights
Financial highlights Revenues Increased by 7,1% • Reached € 35,2 ml vs € 32,9 ml in 9m 2016, despite lower wind performance data vs 9m 2016, as new capacity was added EBITDA Increased by 7,8% • Increased to € 25,3 ml vs € 23,5 ml in 9m 2016 due to increased capacity • EBITDA margin increased margina
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% 50 45,2 45 40,1 40 70,1% 69,2% 71,3% 71,8% 80% 40 35,2 66,1% 31,6 32,9 35 30 60% in € mn 30 31,3 25 28,1 in € mn 20 23,5 25,3 40% 20 20,9 15 10 10 20% 5 0 0 0% 2014 2015 2016 9m '16 9m '17 2014 2015 2016 9m '16 9
Slide 5: Evolution of key Balance Sheet figures (IFRS in € ml)
Evolution of key Balance Sheet figures (IFRS in € ml) Total Assets Total Equity 450 399,1 160 400 132,7 136,9 352,6 140 350 330,5 328,6 122,4 115,0 120 300 100 in € mn 250 in € mn 200 80 150 60 100 40 50 20 0 0 2014 2015 2016 9m '17 2014 2015 2016 9m '17 Net Debt Operating power plants (as of 30.09.
Slide 6: RES Asset Portfolio
RES Asset Portfolio RES operating plants & pipeline projects by Geography RES projects by development phase (MW) (MW) 39.1 40.0 116.8 30.0 5.0 (1) 144.0 636 90.0 9.0 658 MW 15.0 Pipeline 523 48.2 34.0 114.7 1.2 8.7 9.9 24.3 60.5 243 2.0 138.8 142 113 36.0 76.0 Application Production Environmental Un
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 market developments. Evaluating investment opportunities in European Union. Continue to develop pipeline with high quality sites (capacity factors in line with histo
Slide 8: New wind farm investment program 127,6 MW
New wind farm investment program 127,6 MW PROJECTS' IDs 1 Site MW GWh/yr Wind Turbine Generator €/ΜWh Status Ag. Dynati Ext. Kefalonia 2,4 5 Enercon E-82/2,35 MW FiP 98 Commissioned Thivaikos Viotia 9,9 28 Vestas V 112/3,3 MW FiP 98 Under construction Gropes Lakonia 18,9 44 Enercon E-44/0,9 MW FiT 1
Slide 9: Performance
Performance Capacity factors by project 9m 2017 vs. 9m 2016 Net Income a.m. (€/MWh) 2016-9m 2017-9m 25 40% 21,3 35% 20 17,6 30% 25% 15 20% 10 15% 10% 5 5% 0% 0 2016-9m 2017-9m Wind, hydro, solar Wind only 9m 2016 9m 2017 9m 2016 9m 2017 Capacity factor (%) 26,3% 24,2% Capacity factor (%) 26,3% 24,4%
Slide 10: Group Asset Performance Details
Group Asset Performance Details Mean Installed Licensed Operation Energy Yield (GWh) annual Long Term FiT Power plant Site Company / SPV Stake Capacity Capacity License Yield (€/MWh) availability (MW) (MW) Date (GWh/yr) 2014 2015 2016 2014-16 Antissa Lesvos EL.TECH.ANEMOS S.A. 100% 4,20 4,20 Oct-03
Slide 11: Consolidated P&L
Consolidated P&L 30/9/2017 30/9/2016 % change (€ thousands) IFRS IFRS Revenue 35.217 32.893 7,1% Revenues rose by 7,1% despite lower seasonal wind performance data, enhanced Cost of goods sold (17.359) (15.146) by new capacity additions to overall wind Gross Margin 17.859 17.747 turbine fleet (39,
Slide 12: Consolidated Balance Sheet
Consolidated Balance Sheet 30/9/2017 31/12/2016 % change (€ thousands) IFRS IFRS Non-current assets increased by 16,4% Fixed assets 328.130 278.608 17,8% reflecting increased investments in new Intangible assets 16.583 16.902 -1,9% capacity Other non-current assets 2.061 2.445 -15,7% Current ass
Slide 13: Consolidated Cash Flows
Consolidated Cash Flows 30/9/2017 30/9/2016 % change (€ thousands) IFRS IFRS Cash Flow from Operations Operating cash flows rose overall by Profit Before Tax 10.173 11.442 -11% 67% reflecting significant Adjustments for: improvement in collecting revenues Depreciation 8.371 7.243 Provisions 68 1.4