Atlantica Sustainable Infrastructure PLC
Atlantica Sustainable Infrastructure — Q2 2024 Earnings Presentation
15 slides from Atlantica Sustainable Infrastructure's earnings presentation, Aug 1, 2024
Slide 1: Sizeable and Diversified Asset Portfolio
Based on CAFD estimates for the 2024-2027 period as of August 1, 2024, for the assets as of December 31, 2023, including assets that have reached COD before August 1, 2024. See “Disclaimer – Forward Looking Statements”. Euro denominated cash flows from assets in Europe, net of euro-denominated corpo
Slide 2: Historical Financial Review: Key Financials by Quarter (1/2)
HISTORICAL FINANCIAL REVIEW Key Financials by Quarter (1/2) “Deposits into/ withdrawals from restricted accounts” and “Change in non-restricted cash at project level” are calculated on a constant currency basis to reflect actual cash movements isolated from the impact of variations generated by fore
Slide 3: Historical Financial Review: Key Financials by Quarter (2/2) - Debt Details
Debt Details 1Q22 2Q22 3Q22 4Q22 2022 1Q23 2Q23 3Q23 4Q23 2023 1Q24 2Q24 Project Debt 5,037.0 4,735.5 4,621.9 4,553.1 4,553.1 4,596.6 4,438.2 4,412.1 4,319.3 4,319.3 4,301.1 4,163.9 Project Cash (625.9) (545.1) (675.8) (540.2) (540.2) (493.5) (414.0) (546.6) (415.3) (415.3) (405.2) (335.5) Net Proje
Slide 4: Historical Financial Review: Segment Financials by Quarter
HISTORICAL FINANCIAL REVIEW Segment Financials by Quarter 1Q22 2Q22 3Q22 4Q22 2022 1Q23 2Q23 3Q23 4Q23 2023 1Q24 2Q24 by Geography NORTH AMERICA 74,304 124,968 124,423 81,352 405,047 72,840 129,331 136,574 86,143 424,888 86,232 136,795 SOUTH AMERICA 38,528 39,804 44,217 43,892 166,441 43,720 47,793
Slide 5: Production, Availability and Capacity by Quarter
1Q22 2Q22 3Q22 4Q22 2022 1Q23 2Q23 3Q23 4Q23 2023 1Q24 2Q24 RENEWABLES3 (GWh) 1,094 1,554 1,507 1,164 5,319 1,192 1,611 1,580 1,075 5,458 1,063 1,611 (GWh)4 625 626 647 603 2,501 600 630 662 657 2,549 636 581 (availability %)5 100.3% 99.9% 101.1% 95.1% 98.9% 94.9% 99.2% 102.3% 102.1% 99.6% 102.3% 98
Slide 6: Historical Financial Review: Capacity Factors
Capacity factor ratio represents actual electrical energy output over a given period of time divided by the maximum possible electrical energy output assuming continuous operation at full nameplate capacity over that period. Historical Capacity Factors are calculated from the date of entry into oper
Slide 7: Net Debt
Net corporate debt is calculated as long-term corporate debt plus short-term corporate debt minus cash and cash equivalents at Atlantica’s corporate level. Net corporate leverage is calculated as net corporate debt divided by midpoint 2024 CAFD guidance before corporate debt service. CAFD before cor
Slide 8: Liquidity Position
Exchange rates as of June 30, 2024 (EUR/USD = 1.0713) and December 31, 2023 (EUR/USD = 1.1039). Restricted cash is cash which is restricted generally due to requirements of certain project finance agreements. US $ in million1 As of Jun. 30 2024 As of Dec. 31 2023 Corporate cash at Atlantica 20.0 33.
Slide 9: Debt Maturities
Exchange rates as of June 30, 2024 (EUR/USD =1.0713). Amounts include principal amounts outstanding, unless stated otherwise. As of June 30, 2024, $266.3 million was available under the Revolving Credit Facility. The latter has a total limit of $450 million. US $ in million1 Maturity Amounts2 Credit
Slide 10: Cash Flow
CASH FLOW Operating Cash Flow Consolidated cash as of June 30, 2024, decreased by $92.8 million vs December 31, 2023, including FX translation differences of $(2.8) million. Includes $38.1 million of proceeds from Monterrey Sale. US$ in million 2024 2023 Adjusted EBITDA 407.3 XX 403.8 Share in Adjus
Slide 11: Interest Rate Risk Coverage
fixed or hedged1 Project Debt Calculated as the weighted average of the % of fixed or hedged corporate debt and the % of fixed or hedged project debt based on outstanding balance as of June 30, 2024. (2) See our Annual Report on Form 20-F for the fiscal year ended December 31, 2023 for additional in
Slide 12: Long Term Stable Cash Flow
Does not include assets without PPAs or partially contracted. Calculated as weighted average years remaining as of June 30, 2024 based on CAFD estimates for the 2024-2027 period, including assets that have reached COD before August 1, 2024. See “Disclaimer – Forward Looking Statements”. (3) Regulati
Slide 13: Asset Portfolio (1/2)
As of August 1, 2024 ASSET TYPE STAKE LOCATION GROSSCAPACITY OFFTAKER RATING1 YEARS INCONTRACT LEFT7 CURRENCY RENEWABLE ENERGY Solana 100% USA (Arizona) 280 MW APS BBB+/Baa1/BBB+ 19 USD Mojave 100% USA (California) 280 MW PG&E BB/Ba1/BB+ 15 USD Coso 100% USA (California) 135 MW SCPPA & two CCAs4 Inv
Slide 14: Asset Portfolio (2/2)
As of August 1, 2024 ASSET TYPE STAKE LOCATION GROSSCAPACITY OFFTAKER RATING1 YEARS INCONTRACT LEFT6 CURRENCY RENEWABLE ENERGY PS 10/20 100% Spain 31 MW Kingdom of Spain A/Baa1/A- 8/10 EUR4 Helioenergy 1/2 100% Spain 2x50 MW Kingdom of Spain A/Baa1/A- 12/12 EUR4 Helios 1/2 100% Spain 2x50 MW Kingdom
Slide 15: Signatures
Great West House, GW1, 17th floor, Great West Road Brentford TW8 9DF London (United Kingdom) SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Atlantica
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