Successful Pioneer in a Growing Market 18. August 2020
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 two founders/Managing Directors hold majority of shares ▪ Strong management with four Managing Directors and 14 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 ▪ To date, a good 3,000 megawatts of wind and solar power developed and sold - half of which was built turnkey ▪ Investment volume of these projects amounts to around four billion euros ▪ Pipeline of more than 12,000 megawatts under development , in Europe as well as South America, North America and Africa 3
1. Company Value-Added Chain Operations Project development and construction (depending on the country ≈ 3 -5 years) (≈ 20 years) Site Development Financing Construction Sales Services Acquisition Site Site appraisal Profitability Grid connection Sales Service/ identification (flora, fauna, calculations Maintenance Infrastructure Institutional immissions) Securing of investors Operational Construction Land lease feed-in-tariff Management Management Citizen agreements Analysis of wind Project financing participation Technical conditions Commissioning Assessment Selection of Products plant (e.g. ABO Lock) Obtaining of permits 4
1. Company Sold Turnkey- and Ready-to-Build-Projects 5
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 6
3. Position and Strategy International Orientation: Project Development in 16 Countries Finland United Kingdom Germany Ireland Poland Canada Netherlands Hungary France Greece Spain Tunisia Colombia Tanzania South Africa Argentina 7
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 ▪ 2020 is expected to become fifth year in a row with a net profit of more than ten million euros ▪ In terms of earnings before interest and taxes (EBIT), the series has already held up for six years 8
3. Position and Strategy Large Portfolio of Wind and Solar Parks under Development ▪ Growing internationalisation Country Phase I Phase II Phase III Total – number of markets has Germany 1,060 30 50 1,140 doubled since 2015 France 1,200 50 50 1,300 ▪ Three quarters of revenues Finland 1,900 117 43 2,060 expected to be earned Ireland 180 27 28 225 outside Germany in the Spain 800 600 1,400 medium term Greece 700 38 738 ▪ Balanced country portfolio Poland 20 20 40 comprising established and United Kingdom 200 20 220 promising markets Argentina 800 800 1,600 Colombia 400 400 Canada 500 500 Phase I: Land secured, permit in progress South Africa 1,400 600 2,000 Phase II: Permit achieved, construction Tanzania 300 300 stage in progress Phase III: Realisation/construction Tunisia 80 50 130 Total in megawatts 9,520 2,304 229 12,053 9
4. Financial Figures and Outlook Development of Result 10
4. Financial Figures and Outlook Financial Figures per Share (EUR) 2015 2016 2017 2018 2019 EBITDA 2.63 4.50 4.94 4.24 3.58 Net Profit 1.02 2.16 2.22 1.67 1.48 Dividend 0.25 0.50 0.40 0.42 0.42 Book value (as at 31.12.) 6.8 8.7 10.4 11.64 12.83 Share price (as at 31.12.) 6.9 7.4 12.0 13.80 17.30 Price-earnings ratio (as at 31.12) 6.8 3.4 5.4 8.28 12.27 Balance Sheet (EUR million) 2015 2016 2017 2018 2019 Total assets 125.4 146.6 174.0 194.0 242.8 Equity 52.0 66.7 79.6 89.0 103.6 11
4. 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 27,6 20,2 2015 2016 2017 2018 2019 2020 2021 12
4. Financial Figures and Outlook Strong project developer with dynamic growth ▪ 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 ▪ Emissions of new shares (2019 and 2020) resulted in a EUR 17.2 million increase in equity • Effects of Corona so far controllable. Delays are becoming apparent . Scenario from Bloomberg NEF sees renewable energies as beneficiaries in overcoming the crisis • Figures for the first half of 2020 show stability despite Corona restrictions : Net income increased to 6.3 million Euro (H1 2019: 5.2 million Euro) • Slightly higher net income of around EUR 12 million is also expected for fiscal 2020 13
Thank you. Do you have any questions? Alexander Koffka General Manager phone: +49 (0)611 – 26 76 55 15 alexander.koffka@abo-wind.de 14
Disclaimer 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. 15
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