Phoenix Solar AG. Brief Corporate Presentation. Phoenix Solar AG Corporate Profile

Transcription

1 Phoenix Solar AG Brief Corporate Presentation Phoenix Solar AG Corporate Profile

2 The Photovoltaic Power Plants Value Chain Involves Numerous Players From greenfield to the plug socket: how solar energy comes to be generated. Financing: Commercial, Financial investors PD: Project Development EPC: Engineering Procurement Construction Utility / Independent Power Producer Power Commercial / Retail End Consumer Sourcing: modules, inverters, other components 2

3 Phoenix Solar is a Pioneer of the Photovoltaic Industry Mainly Focussed on the Construction of Power Plants The predominant business model is EPC of photovoltaic power plants both, roof-top and green-field. Customers Retail, commercial and institutional investors, utilities Operations Sales Engineering Procurement Construction Operation & Maintenance Cash Flows out: personnell and materials in: progressional milestone payments in: long term contracts monthly/annual fees Suppliers Diverse local sales agents Manufacturer independent: always best price-performance ratio for customer 3

4 Photovoltaics Continues to be a Fast Growing Sector within the Renewable Energies Industry MWp growth scenarios for selected markets (acc. to EPIA 2014 Outlook] SEA: Annual Capacity Added Thailand Other USA: Annual Capacity Added ME: Annual Capacity Added USA 1500 KSA Other

5 Phoenix Solar Offers a Global Network with a Unique Positioning in the USA and Asia International Coverage and Network of Subsidiaries Break-Even Point Lowered Phoenix Solar AG, Germany (Since Nov. 1999) 160,0 110,0 155,4 141,2 Phoenix Solar SAS, France (Since Sept. 2009) 60, Phoenix Solar Inc., USA (Since Sept. 2010) Phoenix Solar S.L., Spain (Since Apr. 2006) Phoenix Solar E.P.E., Greece (Since June 2008) 10,0-40,0-31,8-1,4-3/ (e) Revenue EBIT Phoenix Solar L.L.C., Oman (Since Dec. 2009) Current Tender & Offers Pipeline Phoenix Solar Pte. Ltd., Singapore (Since Dec. 2006) Phoenix Solar Sdn Bhd, Malaysia (Since Sept. 2010) 150,9 114,3 USA SEA/ME (MWp, Chance 10%-90%) All 100% owned subsidiaries, except Oman (70%), Singapore and Malaysia (75%) 5

6 Challenge 2014/2015: Improve Sales Performance, Order Intake, and Enhance Visibility 2012: 1st year of restructuring: Secure financing, establish survival mode, severe cost cutting Revenues less, EBIT better than forecast 2013: 2nd year of restructuring: Strategic realignment: Focus on growth regions in the USA and Asia additional cost containment Revenues less, EBIT better than forecast, almost break-even 2014: 3rd year of restructuring: Final shut-down of German and Italian business, sale of European O&M-Business restructuring completed, financing extended. Weakness 2014: Planned turnaround had to be postponed, as build-up of sales force and hence order intake severely delayed Revenues much less, EBIT lower than forecast Challenge 2015: Finalize build-up of sales force, get new orders, establish sustainable business with consistent growth in all key regions. Significant revenue growth, noticeable improvement of EBIT 6

7 Investment Case: From Restructuring to Growth Final Stage of Turnaround Story Phoenix Solar is one of the few surviving German solar pioneers. Financing secured through September 30, Deep rooted position in Southeast Asia with a strong multinational workforce and network. Build-up and strengthen position in the US through competitive EPC++ approach. First mover in the MENA region, pilot projects, significant potential. Break-even equation (approx.): 100 MWp => 120 mn revenues => 12 mn gross margin => EBIT break even Current capacity level: MWp Phoenix Solar share has been and still is on a few watchlists, in particular of German investors. 7

8 Phoenix Solar Making energy together Contact Investor Relations: Dr. Joachim Fleing E: T: M: