Alfen Nv · EURONEXT:ALFEN
Alfen Nv — Shareholder Meeting (April 2020)
32 slides from Alfen Nv's shareholder meeting presentation, Apr 8, 2020
Slide 1: Annual General Meeting of Shareholders
Annual General Meeting of Shareholders Almere, the Netherlands 8 April 2020 1
Slide 2: Disclaimer
Disclaimer This communication may include forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. These forward- looking statements may be identified by the use of forward-looking terminology, including the terms such as guidance, expec
Slide 3: Agenda
Agenda 1 Opening 2 2019 Annual Report a) Report of the Management Board for 2019 b) Remuneration for 2019 * 3 2019 Financial Statements a) Proposal to adopt the Financial Statements for 2019 as included in the 2019 Annual Report * b) Explanation of dividend and reserve policy 4 Discharge of the memb
Slide 4: Agenda
Agenda 1 Opening 2 2019 Annual Report a) Report of the Management Board for 2019 b) Remuneration for 2019 * 3 2019 Financial Statements a) Proposal to adopt the Financial Statements for 2019 as included in the 2019 Annual Report * b) Explanation of dividend and reserve policy 4 Discharge of the memb
Slide 5: Four presenters today
Four presenters today Supervisory Board Management Board Edmond van der Erwin Riefel Henk ten Hove Marco Roeleveld Jeroen van Rossen Richard Jongsma Arend (Chairman) (CEO) (CFO) (CCO) Not present Physically present Physically present Physically present Physically present Not present 5
Slide 6: To ask questions: move your mouse to make the orange button appear
To ask questions: move your mouse to make the orange button appear Ask a question 6
Slide 7: Type in your question and submit
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Slide 8: Agenda
Agenda 1 Opening 2 2019 Annual Report a) Report of the Management Board for 2019 b) Remuneration for 2019 * 3 2019 Financial Statements a) Proposal to adopt the Financial Statements for 2019 as included in the 2019 Annual Report * b) Explanation of dividend and reserve policy 4 Discharge of the memb
Slide 9: Covid-19 update (1/2)
Covid-19 update (1/2) • Our number one priority is to keep our employees, our suppliers and customers safe. As such, we have put measures in place to optimally safeguard the health and safety of all of us. This is key to ensure we continue to operate and serve our customers • We are following the gu
Slide 10: Covid-19 update (2/2)
Covid-19 update (2/2) • We cannot give any further guidance at the moment due to the early stage of the Covid-19 crisis. These are uncertain times and the personal and economic impact on society is enormous, and makes the near future increasingly unpredictable • A key consideration for Alfen is that
Slide 11: 2019 highlights
2019 highlights FY 2019 revenues growth of 41% to €143.2m, versus €101.9m in 2018, primarily driven by strong growth in EV charging equipment (+113%) and Smart grid solutions (+40%) Strong increase in profitability: adjusted EBITDA of €14.5m (10.1% of revenues) versus €3.6m (3.6% of revenues) in 201
Slide 12: Continued strong revenue growth
Continued strong revenue growth Revenues and other income Energy storage • Challenging market environment in H1 2019, but regaining market momentum in H2 2019, leading to (€ million) various new orders and positioning Alfen well for 2020 +41% • Further broadening of client base (including Uniper, Fo
Slide 13: Commercial successes in 2019
Commercial successes in 2019 Selected examples Smart grids EV charging Energy storage Won the framework 10MW storage system agreement for the supply of New agreement to supply connected to Uniper’s hybrid substations, with an initial Drax with EV chargers power plant at the Maasvlakte term of four y
Slide 14: Importance to stakeholders
Aligned to four UN Sustainable Development Goals - ready to start implementing renewed CSR strategy Alignment with UN Sustainable Development Goals (SDGs) 2020 1 2 3 4 Stakeholder Materiality analysis Mapping with SDGs Implementation survey • Monitoring Importance to stakeholders • Employees • Repor
Slide 15: Four levers of growth
Four levers of growth Benefitting from strong market growth trends and further grow Market growth market share Significant internationalisation opportunity, further strengthening Internationalisation position in existing countries and entering new countries Expanding existing service offering and be
Slide 16: Income statement
Income statement In € ‘000 2019 2018 Revenue and other income 143,169 101,893 • Revenue growth driven by strong market growth, further bolstered by Smart grids 103,584 74,031 internationalisation, cross-selling and service EV charging 26,136 12,277 • Margin increase as a result of Alfen’s strong mar
Slide 17: Balance sheet
Balance sheet In € ‘000 31 Dec 2019 1 Jan 20191 Non-current assets 27,732 24,348 • Capex amounted to €6.7m (4.7% of revenues) as compared to €6.1m Current assets 48,762 38,846 (5.9% of revenues) in 2018. Capex in 2019 includes investments in expanding warehousing and production lines for the Smart g
Slide 18: Agenda
Agenda 1 Opening 2 2019 Annual Report a) Report of the Management Board for 2019 b) Remuneration for 2019 * 3 2019 Financial Statements a) Proposal to adopt the Financial Statements for 2019 as included in the 2019 Annual Report * b) Explanation of dividend and reserve policy 4 Discharge of the memb
Slide 19: Agenda
Agenda 1 Opening 2 2019 Annual Report a) Report of the Management Board for 2019 b) Remuneration for 2019 * 3 2019 Financial Statements a) Proposal to adopt the Financial Statements for 2019 as included in the 2019 Annual Report * b) Explanation of dividend and reserve policy 4 Discharge of the memb
Slide 20: Agenda
Agenda 1 Opening 2 2019 Annual Report a) Report of the Management Board for 2019 b) Remuneration for 2019 * 3 2019 Financial Statements a) Proposal to adopt the Financial Statements for 2019 as included in the 2019 Annual Report * b) Explanation of dividend and reserve policy 4 Discharge of the memb
Slide 21: Introduction
Introduction • The existing remuneration policy is dated 11 March 2018 (pre-IPO) and includes no incentive plan and no salary increase for 2018 and 2019 for the Board of Directors • During the Annual General Meeting of 2019 Alfen announced to initiate an external benchmark analysis to assess the exi
Slide 22: Benchmark analysis
Benchmark analysis • The policy and remuneration of Alfen N.V. has been benchmarked against 14 selected companies (based on market capitalisation, number of employees and turnover) part of the AScX index of the Euronext stock exchange • The scope of the benchmark analysis included both the base sala
Slide 23: Summary outcome benchmark analysis
Summary outcome benchmark analysis CEO • The median base salary of the CEOs of the benchmark group is on an average € 356,000 per year with an incentive plan of 49% of the base salary • The existing remuneration of the CEO of Alfen is a base salary of € 250,000 per year and no incentive plan CFO • T
Slide 24: Proposal remuneration policy Alfen as of 2020
Proposal remuneration policy Alfen as of 2020 • The remuneration must be fair and in line with market practice • The median is the reference for the CEO and CFO for the base salary and the incentive plan • The base salary of the CEO and CFO will be increased in two steps towards the median Existing
Slide 25: Proposal remuneration policy Alfen as of 2020 - LTI
Proposal remuneration policy Alfen as of 2020 - LTI • The LTI is 40% “at target” of the base salary with a bandwidth from 30-50% (and can be 0% if none of the KPIs have been realised) • The LTI will be paid in performance shares with a vesting period of 3 years and a holding period of 1 year • The K
Slide 26: Proposal remuneration policy Alfen as of 2020 - LTI
Proposal remuneration policy Alfen as of 2020 - LTI • Works council has given a positive advice • The existing period for the CEO and CFO is until April 2022 26
Slide 27: Proposal remuneration Supervisory Board Members
Proposal remuneration Supervisory Board Members • Based on some public sources (including recruitment agencies) the proposal is to approve the possibility to increase the remuneration of Supervisory Board Members from € 30k per year towards € 40k per year • The above in anticipation of the recruitme
Slide 28: Agenda
Agenda 1 Opening 2 2019 Annual Report a) Report of the Management Board for 2019 b) Remuneration for 2019 * 3 2019 Financial Statements a) Proposal to adopt the Financial Statements for 2019 as included in the 2019 Annual Report * b) Explanation of dividend and reserve policy 4 Discharge of the memb
Slide 29: Agenda
Agenda 1 Opening 2 2019 Annual Report a) Report of the Management Board for 2019 b) Remuneration for 2019 * 3 2019 Financial Statements a) Proposal to adopt the Financial Statements for 2019 as included in the 2019 Annual Report * b) Explanation of dividend and reserve policy 4 Discharge of the memb
Slide 30: Agenda
Agenda 1 Opening 2 2019 Annual Report a) Report of the Management Board for 2019 b) Remuneration for 2019 * 3 2019 Financial Statements a) Proposal to adopt the Financial Statements for 2019 as included in the 2019 Annual Report * b) Explanation of dividend and reserve policy 4 Discharge of the memb
Slide 31: Agenda
Agenda 1 Opening 2 2019 Annual Report a) Report of the Management Board for 2019 b) Remuneration for 2019 * 3 2019 Financial Statements a) Proposal to adopt the Financial Statements for 2019 as included in the 2019 Annual Report * b) Explanation of dividend and reserve policy 4 Discharge of the memb
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