Successful Pioneer in a Growing Market - Wiesbaden, November 2019 - ABO Wind
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Successful Pioneer in a Growing Market Wiesbaden, November 2019
Content
1. Company
2. Market Environment
3. Position and Strategy
4. Financial Figures and Outlook
2
1. Company
Professionals in Renewables: Planning & Technology for Wind & Solar
▪ Founded in 1996; currently more than 600 employees
▪ Owner-managed: Families of the two founders/Managing Directors hold majority of
shares
▪ Strong management with four Managing Directors and 15 General Managers
▪ Headquarter in Wiesbaden, 23 office locations worldwide, 9 of them in Germany
▪ Core business is project development and construction of wind and solar parks
▪ Around 1,500 megawatts with an investment volume of over € 2 billion built to date
▪ Pipeline of more than 10,000 megawatts under development, in Europe as well as
South America, North America and Africa
3
1. Company
Value-Added Chain
Project development and construction (depending on the country ≈ 3-5 years) Operations
(≈ 20 years)
Site
Development Financing Construction Sales Services
Acquisition
Site Site appraisal Profitability Grid connection Sales Service/
identification (flora, fauna, calculations Infrastructure Institutional Maintenance
immissions) Securing of investors Operational
Land lease Construction
remuneration Management
agreements Analysis of wind Management Citizen
conditions Project financing participation Technical
Commissioning
Assessment
Selection of Products
plant (e.g. ABO Lock)
Obtaining of
permits
4
1. Company
Sold Turnkey and Ready to Build Projects
5
1. Company
6
2. Market Environment
Era of Renewable Energies Has Just Begun
▪ Wind and/or solar are most economic options for new capacities worldwide
▪ 70 percent of newly built power plants use renewable energies
▪ International Energy Agency (IEA) expects that in 2040 four times as much wind
energy and ten times as much solar power as today will be produced worldwide
▪
Historical development
7
3. Position and Strategy
International Orientation: Project Development in 16 Countries
Finland
United Kingdom
Ireland Germany
Canada Poland
Netherlands Hungary
France
Greece
Spain
Tunisia
Colombia
Tanzania
South Africa
Argentina
8
3. Position and Strategy
Long-Standing Presence in Many Markets
▪ Half of new business is solar; solar is expected to generate one third of revenues in
the future
▪ Services (maintenance, operational management, products) complement core
business
▪ Work on storage and hybrid energy systems opens up future business opportunities
▪ 2018 is third year in a row with a net profit of more than ten million euros
▪ Net profit of around ten million euros expected again in 2019 - delays in approvals in
Germany impede significantly better earnings
9
3. Position and Strategy
Large Portfolio of Wind and Solar Parks under Development
Country Phase I Phase II Phase III Total ▪ Growing internationalisation
Germany 950 45 23 1,018 – number of markets has
France 950 45 29 1,024 doubled since 2015
Finland 1.400 165 1,565
▪ Three quarters of revenues
Ireland 173 45 11 229
Spain 1.000 1,000
expected to be earned
outside Germany in the
Greece 600 38 638
medium term
Poland 21 21
Hungary 5 5 ▪ Balanced country portfolio
United Kingdom 200 40 240 comprising established and
Argentina 900 900 1.800
promising markets
Columbia 500 500
Canada 300 10 310
Phase I: Land secured, permit in progress
South Africa 1.000 600 1.600
Phase II: Permit achieved, construction
Tanzania 250 250
stage in progress
Tunisia 40 50 2 92
Phase III: Realisation/construction
Total in megawatts 8.263 1.921 108 10.292
104. Financial Figures and Outlook
Development of Result in the Past Six Years
114. Financial Figures and Outlook
Financial Figures per Share
(EUR) 2015 2016 2017 2018
EBITDA 2,63 4,50 4,94 4,24
Net Profit 1,02 2,16 2,22 1,67
Dividend 0,25 0,50 0,40 0,42
Book value (as at 31.12.) 6,8 8,7 10,4 11,64
Share price (as at 31.12.) 6,9 7,4 12,0 13,80
Price-earnings ratio (as at 31.12) 6,8 3,4 5,4 8,28
Balance Sheet
(EUR million) 2015 2016 2017 2018
Total assets 125,4 146,6 174,0 194,0
Equity 52,0 66,7 79,6 89,0
124. Financial Figures and Outlook
Devolopment EBITDA – Historical and Forecasted
In Million Euro, figures 2019 to 2021 according Metzler Research
45
37,7
34,4
33,1
32
28
20,2
2015 2016 2017 2018 2019 2020 2021
134. Financial Figures and Outlook
Project Development is Key to Energy Transition and Climate Protection
▪ Further profit growth is on the horizon
▪ New markets and solar spark dynamic development
▪ In the medium term (from around 2024 onwards) we expect net profits of 20 million
euros on average
▪ Emission of convertible bonds resulted in a EUR 6.4 million increase in equity in
2019
14Thank you. Do you have any questions?
Alexander Koffka
General Manager
Responsible for Public and Investor Affairs
Phone: +49 (0) 611 – 26 76 55 15
alexander.koffka@abo-wind.de
15Disclaimer This presentation is for information purposes only and does not constitute a public offer or invitation to subscribe for or purchase any securities and neither this presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. This presentation is being furnished to you solely for your information and may not be reproduced or redistributed to any other person in whole or in part. All information contained herein has been carefully prepared. Nevertheless, we do not guarantee its accuracy or completeness. The information contained in this presentation is subject to amendment, revision and updating. Certain statements contained in this presentation may be statements of future expectations and other forward-looking statements that are based on the company's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those in such statements as a result of, among others, factors, changing business or other market conditions and the prospects for growth anticipated by the management of the Company. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The distribution of this document in other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of applicable Securities Laws. 16
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