STRATEGIC PLAN 2011-2013                              Milan –28 February 2011 STAR CONFERENCE 2012TERNIENERGIA UNMATCHED  ...
DISCLAIMER  This document has been prepared by TerniEnergia solely for information purposes and for use in  presentations ...
Group structure                                               60,67%                                                      ...
TerniEnergia Group – Integrated leader in “20-20-20”                                                                 Liste...
A new business plan: development guidelines“A strong reaction to changes in PV regulatory and incentives”                 ...
Market overview
A new business plan: PV strategic guidelines                                                                TerniEnergia’s...
A new business plan: Energy Efficiency guidelines                             Market size limited but grew in the late 90s...
A new business plan: Energy Efficiency guidelines                             Accredited by the AEEG and the GME         ...
A new business plan: Energy Efficiency guidelines                     Contracts for Energy Spread or Energy Service with ...
Industrial Plan Highlights                                                                                     Power consu...
2011- 2013 Plan: expected growth of new businessRevenues from Power Generation Business2011 FullEquity and JV plants produ...
Financial Highlights
2012- 2013 Plan: EBITDA and Revenues          EBITDA and REVENUES TREND                   (Euro ML)                       ...
2012- 2013 Plan: Capex targeted                                  Capex Targeted 2012-2013                                 ...
Industrial and economic-financial results FY2011               Installed Power (MWp)                                      ...
Financial Results FY2011                    Revenues                                        Ebitda Revenues               ...
Financial Results FY2011                 Net Working Capital                                                          Net ...
Il business dell’Energy Efficiency                      Memorandum of Understanding                 Cofely Italia – Lucos ...
Più siamo, più consumiamo    Crescita della popolazione mondiale                   Consumi mondiali di energia    (fonte: ...
Il consumo di combustibile fossileEsaurimento del petrolio e delle energie   Concentrazione atmosferica di CO2 efossili   ...
Quali i problemi, quali le opportunità  I problemi                       Le opportunità                                   ...
Cos’è l’Efficienza EnergeticaRaw materials                                     ManufactoryEnergy                          ...
Economicamente parlando …            CONSUMO           x   PREZZO = BOLLETTA ENERGETICA              (MWh)           (€ / ...
Potenziali risparmi nelle aree tematiche diapplicazione dell’efficienza energetica                                        ...
GDFSUEZ: Leader nell’efficienza energetica,presente in tutto il mondo           6 Business Lines                          ...
COFELY GDFSUEZ in Italia:Numeri chiave e attività                2.400 collaboratori     50 sedi su tutto il territorio na...
La Business Line Energia di Cofely Italia                          Dati Chiave             Produzione elettricità: 1.900GW...
Lucos Alternatives Energies                                                                                               ...
Partnership fra Cofely e Lucos                    MEMORANDUM OF UNDERSTANDING DEL 3 NOVEMBRE 2011   TARGET:               ...
Case Study: uno stabilimento industriale ditrattamento dei rifiuti           FASE 1       1                           2   ...
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TerniEnergia Company presentation Star Conference 2012

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Presentazione di TerniEnergia alla Star Conference 2012 di Borsa Italia, Milano 28 Marzo

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TerniEnergia Company presentation Star Conference 2012

  1. 1. STRATEGIC PLAN 2011-2013 Milan –28 February 2011 STAR CONFERENCE 2012TERNIENERGIA UNMATCHED "Strategic repositioning of the Group" "Potentiality of energy efficiency business " "Target 20/20/20" TerniEnergia Erbusco (BS)– March 2012 Milan - March 28, 2012 Borsa Italiana – Room blu 60
  2. 2. DISCLAIMER This document has been prepared by TerniEnergia solely for information purposes and for use in presentations of the Group’s strategies and financials. The information contained herein has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither the company, its advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document. The forward-looking information contained herein has been prepared on the basis of a number of assumptions which may prove to be incorrect and, accordingly, actual results may vary. This document does not constitute an offer or invitation to purchase or subscribe for any securities and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. The information herein may not be reproduced or published in whole or in part, for any purpose, or distributed to any other party. These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities. Page 2
  3. 3. Group structure 60,67% 62% 100 % 50 % 100 % 100 % 4 SPV for 12 JV with EDF EN Italia S.p.A. TerniEnergia Future Newcos full equity plants and other national partners Hellas M.e.p.e. in abroad markets Page 3
  4. 4. TerniEnergia Group – Integrated leader in “20-20-20” Listed on STAR Italian Stock Exchange 20%1 20%2 20%3 2020 Energy European Target Renewables efficency CO2 Reduction 216,4 MWp4 200 mln kWh5 2,4 mln ton PV plants saved CO2 avoided TerniEnergia Group €169,8 mln6 €32,2 mln7 €73 mln8 revenues equity capitalization1 20% of energy consumption from renewable sources2 20% of reduction in final energy consumption than the trend calculated from the average of the years 2001-20053 20% of reduction of CO2 emitted into the atmosphere compared to 19904 Data as at March 31, 2012, 253 plants builted5 Savings achieved through the company owned “Lucos Alternative Energies SpA”6 Consolidated as at December 31, 20117 Net income for 2011: € 9,048 million8 As at October 28, 2010. Company listed on the STAR segment of the MTA of the Italian Stock Exchange Page 4
  5. 5. A new business plan: development guidelines“A strong reaction to changes in PV regulatory and incentives”  Advanced approach in the new industrial energy efficiency business in 2011 since now. Business no policy driven  Started abroad PV industrial activity through first EPC contract in Greece with a subsidiary of european major utilities and scouting in new abroad markets (eg. South Africa)  PV activities as EPC Turnkey and JV providers: target capacity over 120 MWp in 2012-2013 (PV modules partially included)  Profitability in power generation business through JV and Full equity plants guaranteed for 20 years  Keep unchanged the dividend value. Net Result in 2011 € 9,048 mln, present a light increase compared to 2010 Net result  Scouting in the hydroelectric sector Page 5
  6. 6. Market overview
  7. 7. A new business plan: PV strategic guidelines TerniEnergia’s challenge to grow • Increases the incentive decalage New • Introduces restrictions on large • Property management systems of“Quarto Conto ground PV plants and an annual the PV plants to maximize Energia” revenues from incentived fees installation cap and sale of produced energy • Optimization of plant operation • Focus on reduction of production and maintenance in order to achieve revenues stability and Market costs and increasing installation high margins quality, e.g. on roof top • Expansion into foreign countries, changing • Focus on large utilities attraction strategy of large utilities investments investors and focus on industrial roof top plants • Acquired stakes in Lucos • Retreat of foreign investors Alternative Energies in order to Competitive enforce industrial activity and • Overproduction of PV panels diversifying on energy efficiency framework • New phase of uncertainty in business the regulatory framework in Italy Page 7
  8. 8. A new business plan: Energy Efficiency guidelines Market size limited but grew in the late 90s, to reach € 10 billion between the USA and EU in 2008 Energy Efficiency Hold strong growth over the next 10 years in Europe, even after Market Overview approval of the Directive “Pacchetto Clima“ European market (EU-25) estimated at least € 75 billion for 2020, with expected growth of 10 times between 2008 and 2020 Page 8
  9. 9. A new business plan: Energy Efficiency guidelines  Accredited by the AEEG and the GME  Investments in projects that generate energy efficiency for the Energy Efficiency customers Experience  The energy savings generated by our projects amounted to over 200 million kWh  Identification of intervention areas, verification of technical feasibility and verification of the economic and financial viability of the project Our activities  Planning of the intervention, supply of materials, execution of and our proposal work - retrofitting and upgrading – plant testing  Management and maintenance of the facility, ensuring the smooth functioning of the same Industrial Energy Efficiency produces High Margins (over 30%) Page 9
  10. 10. A new business plan: Energy Efficiency guidelines  Contracts for Energy Spread or Energy Service with Public and Private Lightning projects  Target: 34,000 LA in management by 2013, total investments of € 15 mln In FTT  Focus: Public illumination  Medium and large industrial groups and multi-facility in private lighting ORC Organic Rankine  Technologies: ORC (TerniEnergia), motors, inverter, others (es., actions on productivity lines, ecc.) Cycle Engineering  Achievements "turnkey" for the redevelopment of lighting systems for other energy efficiency  Target: 23,000 LA in management by 2013; EPC Page 10
  11. 11. Industrial Plan Highlights Power consumption Total installed PV plants 385.005 5% (63% Energy Saved) 29% 66% 142.619 FE (MWp) JV (MWp) EPC (MWp) Before project After project Power consumption Total installed plants 253 Total installed Area lights 401 Total installed capacity (MWp) 216,4 FE (MWp) 10,4 JV (MWp) 62,1 Energy saved (FY) 242,386 kWh EPC (MWp) 143,9 Page 11Source: Company information, as at March 31, 2012
  12. 12. 2011- 2013 Plan: expected growth of new businessRevenues from Power Generation Business2011 FullEquity and JV plants production 63 mln kWhExpected production for 2012 more than 80 mln kWhStrenght Growth PV EPC AbroadInstalled capacity in 2012 – 2013Over 120 MWp National Leadership in Industrial Energy Efficiency field Industrial lighting Over 57.000 areas light Organic Rankine Cycle (ORC) Starting in energy recovery plants installation Hydroelectric International Scouting Page 12
  13. 13. Financial Highlights
  14. 14. 2012- 2013 Plan: EBITDA and Revenues EBITDA and REVENUES TREND (Euro ML) CAGR 2012-2013 = 8% 100 93 Target 2012E-2013E 90 86 80 2012E 70 • Revenues: 86 Euro Mln 60 50 • EBITDA: 16 Euro Mln CAGR 2012-2013 = 12% 40 30 18 2013E 20 16 • Revenues: 93 Euro Mln 10 0 • EBITDA: 18 Euro Mln EBITDA Revenues 2012 E 2013 E 2012 E: 18% EBITDA Margin 2013 E: 19% Page 14
  15. 15. 2012- 2013 Plan: Capex targeted Capex Targeted 2012-2013 (ML euro) CAGR 2012-2013 = 8% 12,0 11,5 10,9 11,0 10,0 2012 2013 Total targeted Capex for JV and Energy Efficiency Business D/E 2013: 1.0 Page 15
  16. 16. Industrial and economic-financial results FY2011 Installed Power (MWp) 2007 2008 2009 2010 2011 EPC (MWp) 1,44 6,62 13,10 47,70 52,50 JV (MWp) 1,70 3,99 14,10 29,50 12,70 FE (MWp) 10,40 Total Installed Power (MWp) 3,14 10,61 27,20 77,20 75,60 EPC 39 36 17 46 22 JV 2 5 13 30 11 FE 10 Total Installed Plants 41 41 30 76 43 Avarage MWp 0,076 0,259 0,907 1,016 1,758 Page 16
  17. 17. Financial Results FY2011 Revenues Ebitda Revenues 2009 2010 2011 EBITDA 2009 2010 2011Total Revenues 46.831 99.933 169.845 EBITDA 7.313 14.625 15.235 Ebitda Margin 15,6% 14,6% 9,0% Financial results FY2011 - Euro 9,048 ml (9,022 ml FY2010) Page 17
  18. 18. Financial Results FY2011 Net Working Capital Net Financial Position 60,0 1,2 55,0 1,1 77,5 50,0 45,0 1,0 40,0 35,0 68,9 42,6 30,0 0,8 54,6 30,7 25,0 26,1 23,3 15,9 5,0 14,0 20,0 (22,9) (29,8) 15,0 0,6 (3,2) 22,2 (3,6) 10,0 (83,4) 5,0 11,0 - 0,4 (5,0) (8,3) (16,4) (18,7) (45,7) (10,0) (15,0) 0,2 (20,0) 0,2 0,2 2009 2010 2011 (25,0) Inventories Trade Receibles (30,0) - 2009 2010 2011 Trade payables Other Assets / Liabilities NWC/Sales (%) Financial Indebtness Cash and CashEquivqlents NFP/Equity 2009 2010 2011 2009 2010 2011 Inventories 5,0 68,9 14,0 Financial Indebtness 11,0 22,2 54,6 Trade Receibles 30,7 77,5 42,6 Cash and CashEquivqlents (8,3) (16,4) (18,7) Other Activities 2,7 6,0 3,8 Trade payables (22,9) (83,4) (29,8) NFP 2,7 5,7 35,9 Other Assets / Liabilities (3,2) (45,7) (3,6) NFP/Equity 0,2 0,2 1,1 NWC 12,2 23,3 27,0 NWC/Sales (%) 26,1 23,3 15,9 Page 18
  19. 19. Il business dell’Energy Efficiency Memorandum of Understanding Cofely Italia – Lucos Alternatives Energies 28.03.2012Ing. Agostino Albertazzi – Direttore Aggiunto Polo Energia di Cofely ItaliaDott. Andrea Marano – Amministratore Delegato di Lucos Alternatives Energies
  20. 20. Più siamo, più consumiamo Crescita della popolazione mondiale Consumi mondiali di energia (fonte: AIE / BP statistical review) (fonte: BP statistical review) MTep (Millions de Tonnes Equivalent Pétrole) 9 000 Avènement de la fibre optique nucléaire 8 000 hydraulique 7 000 6 000 Gaz Naturel 5 000 80 % de X 50 l’énergie est 4 000 d’origine Pétrole fossile 3 000 2 000 Invention de l’ampoule 1 000 Charbon 0 1860 1865 1870 1875 1880 1885 1890 1895 1900 1905 1910 1915 1920 1925 1930 1935 1940 1945 1950 1955 1960 1965 1970 1974 1979 1985 1990 1995 1870 1900 1950 2000 charbon pétrole gaz hydro & ENR nucléaire 20Cofely – Lucos / 28.03.2012
  21. 21. Il consumo di combustibile fossileEsaurimento del petrolio e delle energie Concentrazione atmosferica di CO2 efossili temperatura media 21Cofely – Lucos / 28.03.2012
  22. 22. Quali i problemi, quali le opportunità I problemi Le opportunità Ridurre i costi energetici Prezzo Anticipare la legislazione Legislazione Incrementare l’immagine Immagine aziendale 22Cofely – Lucos / 28.03.2012
  23. 23. Cos’è l’Efficienza EnergeticaRaw materials ManufactoryEnergy GoodsStaff …… Compressed Boiler Air System Energy Efficiency Energy Efficiency Energy Efficiency 23Cofely – Lucos / 28.03.2012
  24. 24. Economicamente parlando … CONSUMO x PREZZO = BOLLETTA ENERGETICA (MWh) (€ / MWh) (€) EFFICIENZA ENERGETICA x PREZZO = RISPARMIO (MWh) (€ / MWh) (€) 24Cofely – Lucos / 28.03.2012
  25. 25. Potenziali risparmi nelle aree tematiche diapplicazione dell’efficienza energetica Air Conditioning Process Motors & 8% 16% Pumps 3% Cogeneration Lighting 27% 2% Heating 26% Compressed Bioenergy & Air FMCS Electric Incineration 4% 4% Systems 9% Build ing 1% Ho t Wate r insulatio n Ele ctrical 5% e q uip me nt 5% He ating INDUSTRIA 10% 35%Lig hting 10% Air co nd itio ning Ve ntilatio n 25% 10% RESIDENZIALE 25Cofely – Lucos / 28.03.2012
  26. 26. GDFSUEZ: Leader nell’efficienza energetica,presente in tutto il mondo 6 Business Lines 218.900 117.3 GW capacità 5 nell’energia, 1 nei servizi collaboratori in installata* ambientali 70 paesi 1.100 ricercatori ed Esperti in 9 Centri di R&S 1° produttore 1° Società mondiale indipendente nel settore delle di energia elettrica “utilities” nel Mondo (Forbes Global 2000) Secondo fornitore mondiale di servizi ambientali *Comprende il 100% della capacità degli impianti GDF SUEZ a tutto il 30 Giugno 2011, indipendentemente dall’attuale holding rate. 26Cofely – Lucos / 28.03.2012
  27. 27. COFELY GDFSUEZ in Italia:Numeri chiave e attività 2.400 collaboratori 50 sedi su tutto il territorio nazionale 6 Aree dedicate all’Efficienza 5 Società operative Energetica 3 linee di business: Oltre 55.000 clienti tra cui: Energia, Operations, Residenziale & Più di 1.000 tra PA, importanti aziende e PMI Oil Oltre 50.000 Utenze Private 3.300 Condomini UN’OFFERTA GLOBALE 27Cofely – Lucos / 28.03.2012
  28. 28. La Business Line Energia di Cofely Italia Dati Chiave Produzione elettricità: 1.900GWh/a Produzione vapore: 1.400 Kt/a Consumo gas naturale: 489 MSmc/a Potenza elettrica totale: 270 MW 28Cofely – Lucos / 28.03.2012
  29. 29. Lucos Alternatives Energies Risparmi energetici e benefici di immagine per i clienti  Lucos è una Società di Servizi Energetici, accreditata presso l’AEEG ed il GME, controllata da TerniEnergia S.p.A., società quotata sul segmento STAR del MTA L’esperienza di Lucos nell’efficienza  Investiamo il nostro capitale in progetti di efficienza energetica energetica che generano risparmi per il cliente  I risparmi energetici generati dai progetti eseguiti da Lucos ammontano ad oltre 200 milioni di kWh  Identificazione delle aree di intervento e verifica della fattibilità tecnica, economica e finanziaria del progetto Le nostre attività e la nostra proposta  Progettazione dell’intervento, fornitura dei materiali, esecuzione dei lavori – riqualificazione e messa a norma – e collaudo dell’impianto  Gestione e manutenzione dell’impianto, con garanzia del buon funzionamento dello stesso 29Cofely – Lucos / 28.03.2012
  30. 30. Partnership fra Cofely e Lucos MEMORANDUM OF UNDERSTANDING DEL 3 NOVEMBRE 2011 TARGET: clienti privati (industrie, società di distribuzione, ecc..) e pubblici SERVIZI OFFERTI: progetti finalizzati alla riduzione dei consumi energetici primari (interventi sull’involucro edilizio, sugli apparati elettrici, sugli impianti meccanici, impianti speciali, gestione pluriennale degli impianti energetici) MODALITA’: Finanziamento, progettazione, realizzazione e gestione, con garanzia di risparmio energetico Realizzazione “chiavi in mano” o di “EPC” e “O&M”, dietro investimento del cliente 30Cofely – Lucos / 28.03.2012
  31. 31. Case Study: uno stabilimento industriale ditrattamento dei rifiuti FASE 1 1 2 3 4 Audit energetico Individuazione Studio di fattibilità di Proposta tecnico- preliminare GRATUITO aree di soluzioni di economica preliminare presso lo stabilimento inefficienza efficientamento stabilimento del cliente del cliente energetica energetico FASE 2 5 6 7 8 9 Audit Contratto di Protocollo Progettazione Offerta tecnico- efficienza d’intesa energetico preliminare economica dettagliato energetica con impegnativa finanziamento tramite terzi Autoproduzione di energia elettrica da recupero calore di scarto del processo industriale 31Cofely – Lucos / 28.03.2012

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