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M A R C H 2 0 2 2
2
• This document has been prepared by Global Dominion Access, S.A. ("DOMINION"), and is for information purposes only. No reliance may or should be placed for any purposes whatsoever on the
information contained in this document or on its completeness, accuracy or fairness. This document and the information contained herein are strictly confidential and are being shown to you solely for
your information. The information may not be copied, distributed, reproduced or passed on, directly or indirectly, in whole or in part, or disclosed by any recipient, to any other person (whether within
or outside such person's organization or firm) or published in whole or in part, for any purpose or under any circumstances.
• This document is an advertisement and not a prospectus for the purposes of applicable measures implementing EU Directive 2003/71/EC (such Directive, together with any applicable implementing
measures in the relevant home Member State under such Directive, the "Prospectus Directive") and as such does not constitute or form part of any offer to sell or issue or invitation to purchase or
subscribe for, or any solicitation of any offer to purchase or subscribe for, any securities of DOMINION or any of its affiliates or subsidiaries, nor shall it or any part of it nor the fact of its distribution
form the basis of, or be relied on in connection with, any contract or investment decision. Investors should not subscribe for or purchase any securities referred to in this advertisement except on the
basis of the information contained in any prospectus eventually published in accordance with the Prospectus Directive. The information and opinions contained in this document are provided as at the
date of the document and are subject to change.
• This document is not an offer of securities for sale in the United States, Australia, Canada or Japan. The information contained herein does not constitute an offer of securities for sale in the United
States, Australia, Canada or Japan. Securities may not be offered or sold in the United States unless they are registered or are exempt from registration. No money, securities or other consideration is
being solicited and, if sent in response to the information contained herein, will not be accepted. Copies of this document are not being, and should not be, distributed or sent into the United States.
This document does not constitute an offer of securities to the public in the United Kingdom or in any other jurisdiction. The distribution of this document in other jurisdictions may also be restricted
by law and persons into whose possession this document comes should inform themselves about and observe any such restrictions.
• This communication may contain forward-looking information and statements on DOMINION, including financial projections and estimates and their underlying assumptions, statements regarding
plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Although DOMINION
believes that the expectations included in those forward-looking statements are reasonable, investors and shareholders are cautioned that forward-looking statements are subject to various risks and
uncertainties, many of which are difficult to predict and generally beyond he control of DOMINION, that could cause actual results and developments to differ materially from those expressed in, or
implied or projected by, the forward-looking statements,
• Forward-looking statements are not guarantees of future performance. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were
made. Except as required by applicable law, DOMINION foes not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.
• The information and opinions contained in this document are provided as at the date of the document and are subject to verification, completion and change without notice. Neither DOMINION nor any
of its parent or subsidiary undertakings, or the subsidiary undertakings of any such parent undertakings, or any of such person's respective directors, officers, employees, agents, affiliates or advisers,
undertakes any obligation to amend, correct or update this document or to provide the recipient with access to any additional information that may arise in connection with it.
DISCLAIMER
3
We are DOMINION: equity story
ESG
Activity examples
FY 2021 Results
4
We are DOMINION_
W E A R E D O M I N I O N : E Q U I T Y S T O R Y
We are a global company that provides Services and end-
to-end Projects, with more than 10,000 employees and
over 1,000 clients distributed in 35 countries.
C O U N T R I E S
>35
C L I E N T S
>1,000
E M P L O Y E E S
> 10,000
USA
Canada
Mexico
Colombia
Peru
Brazil
Argentina
Ecuador
Haiti
Honduras
El Salvador
Dominican
Republic
Chile
EUROPE & AFRICA
Spain
France
UK
Germany
Italy
Denmark
Portugal
Poland
Netherlands
Slovakia
Morocco
Angola
South Africa
AMERICA ASIA & OCEANIA
Australia
Philippines
Indonesia
Vietnam
India
Oman
Qatar
United Arab
Emirates
Saudi Arabia
Bahrein
Our global revenue is more than €1,000m .
Our goal is to provide comprehensive solutions that
maximise business process efficiency and transition our
clients towards sustainable business models.
We are a publicly listed company since 2016 (BME:DOM).
Our activity fields are Technology & Telecommunications,
Industry and Energy.
We do this through a differentiated approach and
innovative technology application.
5
More than 20 years diversifying by the hand of disruption_
W E A R E D O M I N I O N : E Q U I T Y S T O R Y
• Digital revolution and new
technology developments
B2C
(2017-today)
Energy
(2016-today)
Technology & Telecommunications
(1999-today)
Industry
(2014-today)
1 9 9 9 2 0 2 2
In 1999 the investment
group INSSEC
committed for a
technology project and
set up DOMINION Global
At the same time, the
group created CIE
Automotive
• Turnkey projects in
healthcare, education
and alert systems
• In Spain: liberalization of
the telco sector
We position ourselves as
an integrator and
maintainer of networks
We implement
technology to respond to
a deflationary
environment that is
continually adjusting
costs
• O&M contracts with
several telco operators
Disruptive
paradigm
Response
Milestones/
projects
Our link to global trends and the evolution of our businesses have
lead us to develop multi-sector knowledge and to work in
different activity fields
• The industrial crisis
highlights the need for
restructuring and
productive efficiency
We transfer our experience in
telco into the industrial
sector, in order to define a
value proposal based on
technology and efficiency
• Industrial infrastructures
• One-Stop-Shop O&M
• Industry 4.0 projects
• New global energy
model
We position ourselves in
evolving areas:
• Renewable energy
• Electricity grids
• Solar parks and wind farms
• Transmission lines
• Charging stations
• The revolution of
personal services and
the internet-connected
household
We develop our proposal to
be the integrator of all
personal and household
services
• Smart House: technology
and household services
6
We are DOMINION_
Business segments and key figures
W E A R E D O M I N I O N : E Q U I T Y S T O R Y
B2B Services B2B 360 Projects B2C
B2B_ B2C_
• O&M outsourcing contracts
• Process improvement
resulting from service
contracts
• Major projects to create
new infrastructures
"Multi-service supplier
bringing together a full
range of personal and
household services in a
single omnichannel
platform"
• Recurrent contracts
• CM ≈ 12%
• Project backlog
• CM ≈ 15%
• Recurrent revenue
• Key factors: number of
clients and their
Average Lifetime Value
Turnover (1) (*) Contribution Margin (4) (*)
77%
Free Cash Flow
Conversion from EBITA (5)
"Tier 1 supplier and digital expert capable of end-to-end
execution of projects: from project design and
management to subsequent O&M"
• Energy and gas supply,
telco and data services,
insurances and others
21%
RONA (Return on Net Assets) (7)
53%
B2B_
Servicios
29%
B2B_
Proyectos 360
18%
B2C
47%
B2B_
Servicios
39%
B2B_
Proyectos 360
14%
B2C
(*) FY 2021 distribution
7
DOMINION: reasons to invest_
W E A R E D O M I N I O N : E Q U I T Y S T O R Y
1. A different value proposition: a holistic view of the value chain in both B2B and B2C
2. A management model and an experienced team: focused on value creation
3. A recurring generation of operating FCF: + €272m generated since 2015
4. A profitable growth story: Turnover 12% CAGR, Net Income 16% CAGR (2015-2021)
5. Ambitious objectives: to double the Net Income by 2023
6. ESG: source of competitiveness
8
1. A different value proposition_
B2B: Tier 1 supplier and digital expert capable of end-to-end execution of projects:
from project design and management to subsequent O&M
W E A R E D O M I N I O N : E Q U I T Y S T O R Y
EPC company
Manages construction projects
globally
Specialised Engineering
Designs and executes a specific
part of the construction
Service Company
Manages an outsourced non-
core process
IT Company
Participates in specific phases
of the Digital Transformation
DOMINION B2B
Tier 1 supplier and digital
expert with capabilities to
execute end-to-end projects
Design,
Mgmt and
Exection
O & M
B2B VALUE PROPOSITION
Process Set Up Process MGMT
DEDIGN,
MGTM ADN
EXECUTION
PROJECT
FINANCE
OPERATION AND
MAINTENANCE
PROCESS
IMPROVEMENT
1. END-TO-END MANAGEMENT
2. MULTI-SECTOR KNOWLEDGE
3. DIGITAL EXPERT
Digital
expert
Sector
knowledge
9
1. A different value proposition_
B2C: Multi-service and multibrand supplier bringing together a full range of personal
and household services in a single omnichannel platform
W E A R E D O M I N I O N : E Q U I T Y S T O R Y
Retailer
Distributes 3rd parties' products
through a one-time client
contact. Doesn’t manage clients
Operator
Provides services to the client,
normally limited to one type.
Manages the client
Multi-Serv. supplier
Organizes several services for
the client and provides a digital
management platform
DOMINION B2C
A multi-service supplier with an
omnichannel platform, (physical
and digital). Manages the client
Service
Operation
Digital
distribution
channels
Physical
distribution
channel
Multi-serv.
integrated
Mgmt B2C VALUE PROPOSITION
C O M P E T I T I V E A D V A N T A G E S
Lower
acquisition costs
Higher LTV
(Life Time Value)
Outstanding
service
1
1. END-TO-END CUSTOMER MANAGEMENT
OPERATOR
MULTI-SERVICE
SUPPLIER
OMNICHANNEL
PLATFORM
1 0
2. A experienced management model and team_
The 4 Ds, the 4 pillars of our management model to focus on value creation
W E A R E D O M I N I O N : E Q U I T Y S T O R Y
Disruption: new ways of doing
things to approach new
challenges
Technological focus and vitality:
knowledge of available technology
to apply it to our services and
projects
Cross-functional: platforms
applicable to different industries
and sectors
3 segments: B2B services, B2B
360 projects and B2C
Activity fields: multi-sector and
multi-technical approach
Geographies: 5 continents, > 35
countries
Clients: more than 1,000
Entrepreneur-minded
management: management
independence over their business
areas/ divisions
Lean and flexible corporate
structure: well measured central
services
Operational Leverage
Profitability: ongoing evaluation
and control of operations
profitability ratios
Cash flow: focus on FCF
generation
M&A and Capex: strict return
discipline
“It is not what we do, but how we do it”
Digitalization Diversification Decentralization Financial Discipline
1 1
3. A recurring generation of operating FCF_
+ €272m generated since 2015
W E A R E D O M I N I O N : E Q U I T Y S T O R Y
Operating FCF (1) conversion from EBITA 2015-2021 (€m)
75%
25 28
37
48 47
37
52
31
36
43
54
64
36
68
2015 2016 2017 2018 2019 2020 2021
EBITA
FCF
Guidance FCF (6)
/EBITA
Total FCF
€272m
1 2
4. A profitable growth story_
Operating leverage: strong organic growth and operational leverage, that will resume in 2021
W E A R E D O M I N I O N : E Q U I T Y S T O R Y
Turnover (1) 2015-2021 (€m) Net Income (2) 2015-2021 (€m)
17
22
26
33
39
13
2015 2016 2017 2018 2019 2020 2021
525
613
719
831
947 911
2015 2016 2017 2018 2019 2020 2021
1,035 42
12% CAGR 16% CAGR
1 3
5. Ambitious objectives: our guidance for the 2019-2023_
W E A R E D O M I N I O N : E Q U I T Y S T O R Y
PROJECTED EARNINGS PER SHARE EVOLUTION
2023 Strategic Plan Goal:
2018 2019 2020 2021 2022 2023
0.38€
0.19€
0.26€
DOMINION is a company designed to
successfully face uncertain and complex
environments that we are experiencing. Our
Strategic Plan framework is guided by:
• Cash Conversion >75% EBITA
• RONA >20%
• DFN/EBITDA < x2
• Turnover >5% CAGR
• Organic plan with M&A as an accelerator
To double the Net Income
1 4
5. Ambitious objectives: Committed to generating value for our
shareholders_
W E A R E D O M I N I O N : E Q U I T Y S T O R Y
The 2019-2023 Strategic Plan creates value and rewards shareholders via:
Net Income growth,
which will double EPS
Share buyback program,
which will increase EPS by more than
10%.
The distribution of €65m+ as
dividend
(€14m against FY 2021 net income)
1 5
6. ESG: source of competitiveness_
W E A R E D O M I N I O N : E Q U I T Y S T O R Y
A C O M M I T T E D G O V E R N A N C E
GOVERNANCE
SOCIAL
W E T A K E C A R E O F P E O P L E
ENVIRONMENTAL
W E M I T I G A T E C L I M A T E C H A N G E
1 6
We are DOMINION: equity story
ESG
Activity examples
FY 2021 Results
1 7
BEING
DOING
Sustainability
Report
Our Sustainability Strategy_
E S G : O U R S U S T A I N A B L E M O D E L
B2B Services
B2B Projects
B2C
IMPACTO
SOCIAL
POSITIVO
ENVIRONMENT
DIVERSITY & TALENT
HEALTH & SAFETY
GOVERNANCE AND ETHICAL
MANAGEMENT
SUPPLY CHAIN
Our commitment to being
an increasingly sustainable
company Sustainability as an
opportunity
COMMUNICATING
Difussion, Rankings &
Certifications
1 8
BEING – Committed to our stakeholders_
E S G : O U R S U S T A I N A B L E M O D E L
ENVIRONMENT
GOVERNANCE AND ETHICAL MANAGEMENT
SUPPLY CHAIN
HEALTH & SAFETY
DIVERSITY & TALENT
1 9
Companies are more aware than ever of their responsibility to
society and the environment in which they operate. Consumers,
customers and markets punish and reward companies based on their
commitment to the environment and people.
DOING – Our goal: helping our clients to be
more sustainable_
E S G : O U R S U S T A I N A B L E M O D E L
DOMINION's activities linked to sustainability are already a high
percentage of the business. Nonetheless, our strategy goes further
and aims for each of the business units to generate a permanent
reflection on how their services and solutions can help make their
customers more sustainable and, thus, more efficient.
• Renewables O&M
• Network deployment
• Environmental Services (Reduction
of emissions, Circular economy)
• Predictive and Preventive O&M
• Energy efficiency
• Access to electricity grids
• Renewable Energies
• Hospital Technology
• Adaptation to climate change
• Smart House (digitalisation, energy
efficiency)
• Handset recycling
B2B
Services
B2B
Projects
B2C
2 0
COMMUNICATING_
E S G : O U R S U S T A I N A B L E M O D E L
Our stakeholders evaluate our commitment and progress in the field of sustainability. As part of our strategy,
DOMINION carries out a communication and dissemination effort in different ways:
C E R T I F I C A T I O N S
R A T I N G S
D I F U S S I O N
Sustainability
Report
2 1
We are DOMINION: equity story
ESG
Activity examples
FY 2021 Results
2 2
Relevant examples of DOMINION’s activity_
A C T I V I T Y E X A M P L E S
Deployment and O&M of
electricity lines
Distribution lines for Enel (Peru, Colombia and
Chile)
DOMINION undertakes the deployment,
commissioning and maintenance of
electricity distribution lines (low and
medium voltage) for ENEL in Peru, Colombia
and Chile since 2019.
The global capabilities of DOMINION, which
ensure the same quality and service level in
every part of the world, are one of the key
factors that the client values most.
Industrial O&M service under
One Stop Shop scheme
Arenales Solar PS (Spain)
DOMINION Onsite performs all types of
industrial work ranging from the industrial
operation and maintenance of production
plants and power generation facilities to the
integration of multi-technical contracts in a
One-Stop Shop model.
Within this model, we manage all the
services of the client's value chain, covering
Industrial Assembly, Maintenance, Internal
Logistics and the Implementation of
Improvements backed by digital tools.
Digital transformation to
achieve energy efficiency
Gonvarri (International production plants)
Development of ICT solutions for the
collection, transmission, storage and
modelling of data. These activities are aimed
at monitoring energy consumption, controlling
and improving production traceability and
predictive maintenance. The ultimately aim is
to reduce greenhouse gas (GHG) emissions.
DOMINION designs, implements and operates
digital transformation solutions in this and
other areas.
Services: O&M with technology as value added
2 3
Relevant examples of DOMINION’s activity_
A C T I V I T Y E X A M P L E S
Turnkey projects and O&M of
renewable energy plants
El Soco Photovoltaic Solar Park (Dominican
Republic)
After completing Mata de Palma, the largest
photovoltaic solar park (67.5 MW) in the
Dominican Republic to date, DOMINION has
managed the end-to-end the design and
construction of the El Soco photovoltaic
solar park (79 MW) and its 2022 kick-off.
O&M contracts are also included in the
scope of these projects.
Design, construction and O&M
of industrial infrastructures
Albioma Dome (Reunion Island, France)
DOMINION designed and managed the
construction of two pellet storage domes for
the client Albioma. Each structure has a 50m
diameter, is 40m high and has a storage
capacity of 45,000 m3.
The client's objective was to transform their
power plant into a biomass plant in record
time.
360 projects: from the design to the operation and maintenance
Technology integration and
O&M in hospitals
Antofagasta Hospital (Chile)
DOMINION managed the implementation and
commissioning of the medical equipment
and technological infrastructure in the
Antofagasta hospital. Additionally,
DOMINION will be in charge of the O&M and
the technology revamping for the next 15
years.
The concession structure used in this
hospital has been a successful case study
and will be followed in the current
investment plant of the country.
2 4
We are DOMINION: equity story
ESG
Activity examples
FY 2021 Results
2 5
DOMINION’s best year, despite a complex macro environment_
2 0 2 1 H I G H L I G H T S
Another complex year with some macroeconomic factors evolving worse than expected:
FOREX, increases in the price of energy and other commodities or Omicron variant.
Nevertheless, thanks to our solid management model and differential execution
capabilities, at DOMINION once again we have delivered…
• Record Net Income, growing +28% vs 2019.
• Adjusted Turnover beyond the €1bn threshold for the first time (+13% vs 2019).
• Operational Free Cash Flow generation >75%of EBITA, covering all inorganic
growth capital requirements.
• We have decided to allocate part of our solid net cash position to remunerate our
shareholders (€23m spent on share buyback programs).
>€42m
NET INCOME
>€52m
CASH FLOW
GENERATION
>€1bn
TURNOVER
88% of Net
Income
SHAREHOLDER
REMUNERATION
growth and value creation:
2 6
DOMINION’s best year, despite a complex macro envirnoment_
2 0 2 1 H I G H L I G H T S
➢ Another step on the renewable energy business value creation roadmap,
with the incorporation of a minority shareholder (resulting on a post-money
valuation of €213m and a €50m capital inflow).
➢ We continue to diversify within B2B, with new recurring energy contracts.
➢ Strategic focus on sustainability, as a business opportunity and a company
commitment.
➢ High business development levels that maintain a healthy backlog.
➢ Solid progress on the transformation of B2C.
and strategic progress:
Nevertheless, thanks to our solid management model and differential execution
capabilities, at DOMINION once again we have delivered…
>€213m
RENEWABLES
VALUATION
Strategic
Focus
ENVIRONMENTAL
BUSINESS
>€600m
BACKLOG
“Less Phone and
more House”
B2C
2 7
Income Statement 2021_
2 0 2 1 R E S U L T S
2019
2021
vs 2019(9)
1,149.3
947.3 9%
103.7 7%
11.0%
63.1 8%
6.7%
56.7 13%
6.0%
32.9 28%
3.5%
2020
2021
vs 2020(10)
1,029.6
911.0 14%
80.0 39%
8.8%
36.1 88%
4.0%
31.6 103%
3.5%
12.5 237%
1.4%
2021
1,119.3
1,034.9
111.3
10.8%
67.9
6.6%
64.1
6.2%
42.2
4.1%
(€m)
Turnover
Adjusted Turnover(1)
EBITDA (2)
% EBITDA on adjusted turnover
EBITA(2)
% EBITA on adjusted turnover
EBIT (2)
% EBIT on adjusted turnover
Net Income(3)
% Net Income on adjusted
turnover
• Net profit growing by 28% vs 2019 and operating margins approaching and/or exceeding pre-pandemic levels.
• For the first time, adjusted sales exceed €1bn.
• Organic growth of 12.6% vs 2019 (+13.5% vs 2020).
2 8
QUARTERLY EVOLUTION OF THE ADJUSTED TURNOVER (1)
(€m)
Adjusted Turnover(1) Evolution_
2 0 2 1 R E S U L T S
947
2019 Organic Inorganic Forex 2021
-3.3%
0%
+12.6%
+9.2%
213 212
230
293
225
178
211
297
253 251 248
283
Q1 Q2 Q3 Q4
2019 2020 2021
“Double-digit organic growth (+12.6%) well above the Strategic Plan guidance”
• Strong organic growth at constant currency, which showcases the
strength of the business (+12.6% vs 2019) (+13.5% vs 2020).
• Negative impact of the FOREX evolution, highly concentrated in
Q4.
• Quarter on quarter growth, with the first 3Qs of the year reaching
record numbers.
• A Q4 impacted by macro trends, such as the Omicron variant,
higher energy prices and FOREX.
ADJUSTED TURNOVER EVOLUTION BREAKDOWN (1)
(€m)
1,035
2 9
Adjusted Turnover (1) distribution by geography_
2 0 2 1 R E S U L T S
“We maintain a diversified global presence, where Europe and Africa have gained weight over the year”
* In parentheses the data corresponding to FY 2020.
AMERICA
25%(26%)*
EUROPE & AFRICA
65%(64%)*
ASIA & OCEANIA
10%(10%)*
3 0
53% (51%)*
B2B_Services
29% (31%)*
B2B_360 Projects
Adjusted Turnover (1) distribution by segment_
2 0 2 1 R E S U L T S
B2C 18% (18%)*
€191m
B2B 82% (82%)*
€844m
“Growth of all segments, compared to both 2020 and 2019, exceeding pre-covid levels."
B2C
B2B_
Services
B2B_
360 Projects
FY 2021
FY 2020
€191.1m
€296.7m
€547.0m
€165.0m
€280.9m
€465.1m +18%
+6%
+16%
* In parentheses the data corresponding to FY 2020.
3 1
47% (48%)*
B2B_ Services
39% (46%)*
B2B_360 Projects
Contribution Margin (4) distribution by segment_
2 0 2 1 R E S U L T S
B2C 14% (6%)*
€19m
B2B 86%
(94%)*
€119m
B2C
B2B_
Services
B2B_
360 Projects
“Double-digit growth in B2B, with contribution margins above targets, and resilience in B2C, which
recovers the pre-pandemic margin”
FY 2021
FY 2020
€19.0m
€53.5m
€65.3m
€6.2m
€48.7m
€51.1m +28%
+10%
+206%
* In parentheses the data corresponding to FY 2020.
3 2
2020 2021
€746m
€844m
46%
38%
16%
44%
36%
20%
+8%
+9%
+37%
Energy
Industry
T&T
B2B Split and Highlights_
2 0 2 1 R E S U L T S
ADJUSTED TURNOVER(1) BY ACTIVITY FIELD
12% CM(4) on Adj. Turnover(1)
18% CM(4) on Adj. Turnover(1)
€616m Backlog
85% Recurrency
€297m
€547m
B2B Services
B2B 360 Projects
€844m
• Organic growth >7% vs 2019 (+17,2% vs 2020).
• Target margins achieved with QoQ improvements.
ADJUSTED TURNOVER(1)
BY SEGMENT
• Exceptionally high margins above the 15% target.
“Energy stands up as the fastest growing
activity field”
“Margins on sales grow to record figures with high forward
visibility”
3 3
B2B Services Segment Highlights_
2 0 2 1 R E S U L T S
Strategic focus to consolidate all environmental related activities,
with the ambition to grow, both organically and inorganically. This is
endorsed by the taxonomic assessment and intended to make the
most out of client requirements around sustainability.
Relevant new contracts in the environmental field.
New recurring energy contracts in different geographies and with
different clients, in line with our spirit of diversification which is core
to our Strategic Plan.
Development in countries such as Colombia, with new electricity
distribution services (ENEL) and telco services (CLARO).
3 4
B2B 360 Projects Segment Highlights_
2 0 2 1 R E S U L T S
Expansion of the renewable energy business with the entry of a
minority partner in DOMINION Energy. Incus Capital has given this
business a post-money valuation of over €213m and has brought in
€50m to continue with the development, execution and operation of
our 1GW+ pipeline with an IPP approach.
Execution of a 66 MW wind farm in Mexico and a new 79 MW solar
plant in Dominican Republic.
Excellent execution of a 253 km electricity transmission line in
Angola, a project that will be completed in 2023.
A healthy book-to-bill ratio maintains our backlog above the €600m.
This backlog includes the Buin-Paine hospital in Chile.
3 5
Dominion Energy Deal Explanation
2 0 2 1 R E S U L T S
Global Dominion Access, S.A.
100%
Dominion Energy, S.L.
Dev., Engineering, Construction and O&M
BAS Projects Corporation, S.L.
Financial Sponsor
35%
IPP Player
Global Dominion Access, S.A.
Dominion Energy, S.L.
Dev., Engineering, Construction and O&M
Incus
Capital
76.6%
23.4%
Post-money valuation: €213.75m
Discounted as minority stake taken
Pre deal Post deal
DOMINION + €25m
Incus Capital (*)
+ €50m
BAS Projects Corporation, S.L.
Financial Sponsor
IPP Player
Deal
35%
Capital Increase
(*) The deal has been carried out by a fund advised by Incus Capital.
3 6
B2C Segment Highlights_
2 0 2 1 R E S U L T S
2018 2019 2020 2021
287,593
NUMBER OF SERVICES
Electricity, Gas &
Telecommunication services
9.9%
CM(4) on Adj. Turnover
288k
Services
• Non-stop growth, despite an adverse macro
environment: the Omicron variant has directly impacted
the Christmas campaign and electricity prices have
impacted our energy commercial proposition.
• Recurring sales growing at 65% vs 2019 (+16% vs 2020).
• We have added over 45,000 net services to our portfolio
during the year and doubled Telco subscriptions.
• We have launched new brands and products, in a clear
multibrand, multiproduct and multichannel strategy.
• The transformation of the business to a personal and
household services integrator and its digitalization have
set the business up for success in the years to come.
We are “less Phone and more House”.
• We are adapting our commercial energy proposal
towards the energy transition (energytech role, signing
PPAs to offer certificates of origin, etc.).
240,000
171,000
70,000
3 7
Net Income Evolution_
2 0 2 1 R E S U L T S
27
33
13
42
5
6
3,3%
3,5%
1,4%
4,1%
2018 2019 2020 2021
0
10
20
30
40
50
Discontinued
Net Income
Margin on adj. Turnover
• Net income grows by 28% vs 2019 (+237% vs 2020).
• Above 4% margin on adjusted turnover for the first time.
• Thanks to the operating leverage for the different margin levels.
“A record net income figure supported by consistent quarterly operating margin improvements “
NET INCOME(3) EVOLUTION 2018-2021
€m - % ON ADJUSTED TURNOVER
4.1%
1.4%
3.3%
3.5%
3 8
Cash Flow Conversion (6) and Capital Allocation_
2 0 2 1 R E S U L T S
2021
EBITA (2) 67.9
Organic CAPEX - Amortization (2.9)
WC (8) organic variation 17.9
Net Financial Result (19.8)
Taxes (7.2)
Other variations (3.6)
Net Operating Cash Flow (6) 52.4
Operating Net Cash Flow Conversion Rate (6)
Acquisitions during the year (including acquired net debt) and Earn outs (18.9)
Financial investments (26.0)
Dividends paid to minority interests (2.2)
Dividends distributed to shareholders (4.0)
Share buyback program (23.3)
Free Cash Flow (21.9)
Net Financial Debt 2020 (87.4)
Net Financial Debt 2021 (65.5)
77%
(€m)
NET CASH (5) EVOLUTION BREAKDOWN
€m
65.5
52.4
-18.,9
-2.2
-4.0
-23.3
-26.0
87.4
“Strong operating FCF generation, above target and greater than the payments required for growth (organic and
inorganic) and for dividend distribution. We retain a permanent positive net cash position”
3 9
2 0 2 1 R E S U L T S
Sustained EPS growth with a 17.4% CAGR since 2015.
0,100
0,127
0,152
0,189
0,231
0,063
2015 2016 2017 2018 2019 2020 2021
0.263
Outcome: EPS + 5.47%
We have completed the “2020 Share
Buyback Program” and cancelled the
repurchased shares.
We have issued a new Share Buyback Program
for an additional 5% of the company with a
máximum of 2 years and €40m investment.
EARNINGS PER SHARE (EPS)
EVOLUTION (€)
0.100
0.127
0.152
0.189
0.231
0.063
Capital Allocation – Share Buyback Program_
€23m
dedicated in 2021
4 0
Balance Sheet_
2 0 2 1 R E S U L T S
DECEMBER
2020
DECEMBER
2021
Fixed Assets 479.5 495.5
Net Working Capital (191.6) (208.3)
Total Net Assets 287.9 287.2
Net Equity 319.7 386.4
Net Financial Debt (5) (87.4) (65.5)
Others 55.5 (33.7)
Total Net Equity and
Liabilities
287.9 287.2
Balance Sheet
(€m)
DECEMBER
2020
DECEMBER
2021
Gross Debt 191 205
Liquid Assets and Equivalents (279) (270)
Net Financial Debt (5) (87) (65)
Debt
(€m)
“A strong balance sheet, with a steady positive net cash position”
€13m earn outs, payable from 2022 to 2027
NFD / EBITDA <0 <0
4 1
Financial Discipline Fulfilment_
2 0 2 1 R E S U L T S
66%
75%
101%
77%
2018 2019 2020 2021
24%
25%
16%
21%
2018 2019 2020 2021
Strong Operating FCF conversión, backed by an optimal balance
sheet management, a business light on maintenance CAPEX
needs and a good working capital management.
High returns on assets, above the Strategic Plan guidance.
EBITACONVERSION INTO OPERATING FCF(6) RETURNON NET ASSETS (RONA) (7)
77%
> 75% target
21%
> 20% target
4 2
BACKLOG(iv)
€616m
AMORTIZATION(ii)
€43.4m
(4.3% on adjusted
turnover) (1)
Other relevant figures_
2 0 2 1 R E S U L T S
WORKFORCE(i) CORPORATE STRUCTURE TOP 1 CLIENT(iii)
i. Data at year end
ii. Includes depreciationof fixed assets and IFRS16
iii. Within our strategic clients
iv. Includes B2B Segment360 Projects Backlog
10,615
(35 countries)
€26.5m
(2.6% on adjusted
turnover) (1)
<4% on adjusted
turnover(1)
4 3
Apéndice_
A P É N D I C E
(1) CNA o Cifra de negocio ajustada: Cifra de negocio consolidada eliminadas las ventas de dispositivos
(2) EBITDA: Resultado neto de explotación + Amortización
(3) Bº Neto o Resultado Neto Atribuible: si no se indica lo contrario, se refiere al Resultado neto de actividades continuadas
(4) Margen de Contribución: EBITDA previo a gastos de estructura y administración central
(5) Deuda Financiera Neta: Deuda financiera a largo y corto plazo +/- Instrumentos financieros derivados - tesorería y otros activos líquidos a corto
(6) Flujo de Caja Operativo: EBITA – exceso de CAPEX sobre amortizaciones – Variación CNO – Resultado financiero neto – Impuestos; (excluidas las operaciones inorgánicas)
(7) RONA: EBITA / (Activos no corrientes – Impuestos diferidos de activo – Fondo de comercio sin desembolso + Amortización PPAs año en curso + CNO ; excluidas las
adquisiciones del año en curso)).
(8) CNO: Circulante Neto Operativo
(9) El perímetro de consolidación varía respecto a 2019 por: i) la exclusión de los resultados de 12 meses de actividades de servicios Telco (desinvertidas en 2020) y de 12
meses de actividades IT no estratégicas (desinvertidas en 2019).; ii) la incorporación de 12 meses de Tankiac y de 9 meses de MINISO (adquisiciones 2021) ; de 12 meses de
adquisiciones bolt-on llevadas acabo en 2020; y de 1 mes de Bygging India y 2 meses de Alterna (adquisiciones 2019)
(10) El perímetro de consolidación varía respecto a 2020 por: i) la exclusión de los resultados de 6 meses de actividades de servicios Telco desinvertidas durante el ejercicio
2020; ii) la incorporación de 12 meses de adquisiciones bolt-on llevadas a cabo en 2020 ; y iii) la incorporación de 12 meses de Tankiac y de 9 meses de MINISO
(adquisiciones 2021) .
EBITA: Resultado neto de explotación + amortizaciones PPA
EBIT: Resultado neto de explotación
4 4
Headquarters
Ibáñez de Bilbao, 28 8º A y B
48009 BILBAO (SPAIN)
Phone: (+34) 944 793 787
dominion-global.com
© DOMINION 2021
We help our clients transform to
become more efficient.
We apply technology to make this
happen.
We are DOMINION.

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Dominion Corporate Presentation IR March 2022

  • 1. Company Presentation M A R C H 2 0 2 2
  • 2. 2 • This document has been prepared by Global Dominion Access, S.A. ("DOMINION"), and is for information purposes only. No reliance may or should be placed for any purposes whatsoever on the information contained in this document or on its completeness, accuracy or fairness. This document and the information contained herein are strictly confidential and are being shown to you solely for your information. The information may not be copied, distributed, reproduced or passed on, directly or indirectly, in whole or in part, or disclosed by any recipient, to any other person (whether within or outside such person's organization or firm) or published in whole or in part, for any purpose or under any circumstances. • This document is an advertisement and not a prospectus for the purposes of applicable measures implementing EU Directive 2003/71/EC (such Directive, together with any applicable implementing measures in the relevant home Member State under such Directive, the "Prospectus Directive") and as such does not constitute or form part of any offer to sell or issue or invitation to purchase or subscribe for, or any solicitation of any offer to purchase or subscribe for, any securities of DOMINION or any of its affiliates or subsidiaries, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Investors should not subscribe for or purchase any securities referred to in this advertisement except on the basis of the information contained in any prospectus eventually published in accordance with the Prospectus Directive. The information and opinions contained in this document are provided as at the date of the document and are subject to change. • This document is not an offer of securities for sale in the United States, Australia, Canada or Japan. The information contained herein does not constitute an offer of securities for sale in the United States, Australia, Canada or Japan. Securities may not be offered or sold in the United States unless they are registered or are exempt from registration. No money, securities or other consideration is being solicited and, if sent in response to the information contained herein, will not be accepted. Copies of this document are not being, and should not be, distributed or sent into the United States. This document does not constitute an offer of securities to the public in the United Kingdom or in any other jurisdiction. The distribution of this document in other jurisdictions may also be restricted by law and persons into whose possession this document comes should inform themselves about and observe any such restrictions. • This communication may contain forward-looking information and statements on DOMINION, including financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Although DOMINION believes that the expectations included in those forward-looking statements are reasonable, investors and shareholders are cautioned that forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond he control of DOMINION, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements, • Forward-looking statements are not guarantees of future performance. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. Except as required by applicable law, DOMINION foes not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. • The information and opinions contained in this document are provided as at the date of the document and are subject to verification, completion and change without notice. Neither DOMINION nor any of its parent or subsidiary undertakings, or the subsidiary undertakings of any such parent undertakings, or any of such person's respective directors, officers, employees, agents, affiliates or advisers, undertakes any obligation to amend, correct or update this document or to provide the recipient with access to any additional information that may arise in connection with it. DISCLAIMER
  • 3. 3 We are DOMINION: equity story ESG Activity examples FY 2021 Results
  • 4. 4 We are DOMINION_ W E A R E D O M I N I O N : E Q U I T Y S T O R Y We are a global company that provides Services and end- to-end Projects, with more than 10,000 employees and over 1,000 clients distributed in 35 countries. C O U N T R I E S >35 C L I E N T S >1,000 E M P L O Y E E S > 10,000 USA Canada Mexico Colombia Peru Brazil Argentina Ecuador Haiti Honduras El Salvador Dominican Republic Chile EUROPE & AFRICA Spain France UK Germany Italy Denmark Portugal Poland Netherlands Slovakia Morocco Angola South Africa AMERICA ASIA & OCEANIA Australia Philippines Indonesia Vietnam India Oman Qatar United Arab Emirates Saudi Arabia Bahrein Our global revenue is more than €1,000m . Our goal is to provide comprehensive solutions that maximise business process efficiency and transition our clients towards sustainable business models. We are a publicly listed company since 2016 (BME:DOM). Our activity fields are Technology & Telecommunications, Industry and Energy. We do this through a differentiated approach and innovative technology application.
  • 5. 5 More than 20 years diversifying by the hand of disruption_ W E A R E D O M I N I O N : E Q U I T Y S T O R Y • Digital revolution and new technology developments B2C (2017-today) Energy (2016-today) Technology & Telecommunications (1999-today) Industry (2014-today) 1 9 9 9 2 0 2 2 In 1999 the investment group INSSEC committed for a technology project and set up DOMINION Global At the same time, the group created CIE Automotive • Turnkey projects in healthcare, education and alert systems • In Spain: liberalization of the telco sector We position ourselves as an integrator and maintainer of networks We implement technology to respond to a deflationary environment that is continually adjusting costs • O&M contracts with several telco operators Disruptive paradigm Response Milestones/ projects Our link to global trends and the evolution of our businesses have lead us to develop multi-sector knowledge and to work in different activity fields • The industrial crisis highlights the need for restructuring and productive efficiency We transfer our experience in telco into the industrial sector, in order to define a value proposal based on technology and efficiency • Industrial infrastructures • One-Stop-Shop O&M • Industry 4.0 projects • New global energy model We position ourselves in evolving areas: • Renewable energy • Electricity grids • Solar parks and wind farms • Transmission lines • Charging stations • The revolution of personal services and the internet-connected household We develop our proposal to be the integrator of all personal and household services • Smart House: technology and household services
  • 6. 6 We are DOMINION_ Business segments and key figures W E A R E D O M I N I O N : E Q U I T Y S T O R Y B2B Services B2B 360 Projects B2C B2B_ B2C_ • O&M outsourcing contracts • Process improvement resulting from service contracts • Major projects to create new infrastructures "Multi-service supplier bringing together a full range of personal and household services in a single omnichannel platform" • Recurrent contracts • CM ≈ 12% • Project backlog • CM ≈ 15% • Recurrent revenue • Key factors: number of clients and their Average Lifetime Value Turnover (1) (*) Contribution Margin (4) (*) 77% Free Cash Flow Conversion from EBITA (5) "Tier 1 supplier and digital expert capable of end-to-end execution of projects: from project design and management to subsequent O&M" • Energy and gas supply, telco and data services, insurances and others 21% RONA (Return on Net Assets) (7) 53% B2B_ Servicios 29% B2B_ Proyectos 360 18% B2C 47% B2B_ Servicios 39% B2B_ Proyectos 360 14% B2C (*) FY 2021 distribution
  • 7. 7 DOMINION: reasons to invest_ W E A R E D O M I N I O N : E Q U I T Y S T O R Y 1. A different value proposition: a holistic view of the value chain in both B2B and B2C 2. A management model and an experienced team: focused on value creation 3. A recurring generation of operating FCF: + €272m generated since 2015 4. A profitable growth story: Turnover 12% CAGR, Net Income 16% CAGR (2015-2021) 5. Ambitious objectives: to double the Net Income by 2023 6. ESG: source of competitiveness
  • 8. 8 1. A different value proposition_ B2B: Tier 1 supplier and digital expert capable of end-to-end execution of projects: from project design and management to subsequent O&M W E A R E D O M I N I O N : E Q U I T Y S T O R Y EPC company Manages construction projects globally Specialised Engineering Designs and executes a specific part of the construction Service Company Manages an outsourced non- core process IT Company Participates in specific phases of the Digital Transformation DOMINION B2B Tier 1 supplier and digital expert with capabilities to execute end-to-end projects Design, Mgmt and Exection O & M B2B VALUE PROPOSITION Process Set Up Process MGMT DEDIGN, MGTM ADN EXECUTION PROJECT FINANCE OPERATION AND MAINTENANCE PROCESS IMPROVEMENT 1. END-TO-END MANAGEMENT 2. MULTI-SECTOR KNOWLEDGE 3. DIGITAL EXPERT Digital expert Sector knowledge
  • 9. 9 1. A different value proposition_ B2C: Multi-service and multibrand supplier bringing together a full range of personal and household services in a single omnichannel platform W E A R E D O M I N I O N : E Q U I T Y S T O R Y Retailer Distributes 3rd parties' products through a one-time client contact. Doesn’t manage clients Operator Provides services to the client, normally limited to one type. Manages the client Multi-Serv. supplier Organizes several services for the client and provides a digital management platform DOMINION B2C A multi-service supplier with an omnichannel platform, (physical and digital). Manages the client Service Operation Digital distribution channels Physical distribution channel Multi-serv. integrated Mgmt B2C VALUE PROPOSITION C O M P E T I T I V E A D V A N T A G E S Lower acquisition costs Higher LTV (Life Time Value) Outstanding service 1 1. END-TO-END CUSTOMER MANAGEMENT OPERATOR MULTI-SERVICE SUPPLIER OMNICHANNEL PLATFORM
  • 10. 1 0 2. A experienced management model and team_ The 4 Ds, the 4 pillars of our management model to focus on value creation W E A R E D O M I N I O N : E Q U I T Y S T O R Y Disruption: new ways of doing things to approach new challenges Technological focus and vitality: knowledge of available technology to apply it to our services and projects Cross-functional: platforms applicable to different industries and sectors 3 segments: B2B services, B2B 360 projects and B2C Activity fields: multi-sector and multi-technical approach Geographies: 5 continents, > 35 countries Clients: more than 1,000 Entrepreneur-minded management: management independence over their business areas/ divisions Lean and flexible corporate structure: well measured central services Operational Leverage Profitability: ongoing evaluation and control of operations profitability ratios Cash flow: focus on FCF generation M&A and Capex: strict return discipline “It is not what we do, but how we do it” Digitalization Diversification Decentralization Financial Discipline
  • 11. 1 1 3. A recurring generation of operating FCF_ + €272m generated since 2015 W E A R E D O M I N I O N : E Q U I T Y S T O R Y Operating FCF (1) conversion from EBITA 2015-2021 (€m) 75% 25 28 37 48 47 37 52 31 36 43 54 64 36 68 2015 2016 2017 2018 2019 2020 2021 EBITA FCF Guidance FCF (6) /EBITA Total FCF €272m
  • 12. 1 2 4. A profitable growth story_ Operating leverage: strong organic growth and operational leverage, that will resume in 2021 W E A R E D O M I N I O N : E Q U I T Y S T O R Y Turnover (1) 2015-2021 (€m) Net Income (2) 2015-2021 (€m) 17 22 26 33 39 13 2015 2016 2017 2018 2019 2020 2021 525 613 719 831 947 911 2015 2016 2017 2018 2019 2020 2021 1,035 42 12% CAGR 16% CAGR
  • 13. 1 3 5. Ambitious objectives: our guidance for the 2019-2023_ W E A R E D O M I N I O N : E Q U I T Y S T O R Y PROJECTED EARNINGS PER SHARE EVOLUTION 2023 Strategic Plan Goal: 2018 2019 2020 2021 2022 2023 0.38€ 0.19€ 0.26€ DOMINION is a company designed to successfully face uncertain and complex environments that we are experiencing. Our Strategic Plan framework is guided by: • Cash Conversion >75% EBITA • RONA >20% • DFN/EBITDA < x2 • Turnover >5% CAGR • Organic plan with M&A as an accelerator To double the Net Income
  • 14. 1 4 5. Ambitious objectives: Committed to generating value for our shareholders_ W E A R E D O M I N I O N : E Q U I T Y S T O R Y The 2019-2023 Strategic Plan creates value and rewards shareholders via: Net Income growth, which will double EPS Share buyback program, which will increase EPS by more than 10%. The distribution of €65m+ as dividend (€14m against FY 2021 net income)
  • 15. 1 5 6. ESG: source of competitiveness_ W E A R E D O M I N I O N : E Q U I T Y S T O R Y A C O M M I T T E D G O V E R N A N C E GOVERNANCE SOCIAL W E T A K E C A R E O F P E O P L E ENVIRONMENTAL W E M I T I G A T E C L I M A T E C H A N G E
  • 16. 1 6 We are DOMINION: equity story ESG Activity examples FY 2021 Results
  • 17. 1 7 BEING DOING Sustainability Report Our Sustainability Strategy_ E S G : O U R S U S T A I N A B L E M O D E L B2B Services B2B Projects B2C IMPACTO SOCIAL POSITIVO ENVIRONMENT DIVERSITY & TALENT HEALTH & SAFETY GOVERNANCE AND ETHICAL MANAGEMENT SUPPLY CHAIN Our commitment to being an increasingly sustainable company Sustainability as an opportunity COMMUNICATING Difussion, Rankings & Certifications
  • 18. 1 8 BEING – Committed to our stakeholders_ E S G : O U R S U S T A I N A B L E M O D E L ENVIRONMENT GOVERNANCE AND ETHICAL MANAGEMENT SUPPLY CHAIN HEALTH & SAFETY DIVERSITY & TALENT
  • 19. 1 9 Companies are more aware than ever of their responsibility to society and the environment in which they operate. Consumers, customers and markets punish and reward companies based on their commitment to the environment and people. DOING – Our goal: helping our clients to be more sustainable_ E S G : O U R S U S T A I N A B L E M O D E L DOMINION's activities linked to sustainability are already a high percentage of the business. Nonetheless, our strategy goes further and aims for each of the business units to generate a permanent reflection on how their services and solutions can help make their customers more sustainable and, thus, more efficient. • Renewables O&M • Network deployment • Environmental Services (Reduction of emissions, Circular economy) • Predictive and Preventive O&M • Energy efficiency • Access to electricity grids • Renewable Energies • Hospital Technology • Adaptation to climate change • Smart House (digitalisation, energy efficiency) • Handset recycling B2B Services B2B Projects B2C
  • 20. 2 0 COMMUNICATING_ E S G : O U R S U S T A I N A B L E M O D E L Our stakeholders evaluate our commitment and progress in the field of sustainability. As part of our strategy, DOMINION carries out a communication and dissemination effort in different ways: C E R T I F I C A T I O N S R A T I N G S D I F U S S I O N Sustainability Report
  • 21. 2 1 We are DOMINION: equity story ESG Activity examples FY 2021 Results
  • 22. 2 2 Relevant examples of DOMINION’s activity_ A C T I V I T Y E X A M P L E S Deployment and O&M of electricity lines Distribution lines for Enel (Peru, Colombia and Chile) DOMINION undertakes the deployment, commissioning and maintenance of electricity distribution lines (low and medium voltage) for ENEL in Peru, Colombia and Chile since 2019. The global capabilities of DOMINION, which ensure the same quality and service level in every part of the world, are one of the key factors that the client values most. Industrial O&M service under One Stop Shop scheme Arenales Solar PS (Spain) DOMINION Onsite performs all types of industrial work ranging from the industrial operation and maintenance of production plants and power generation facilities to the integration of multi-technical contracts in a One-Stop Shop model. Within this model, we manage all the services of the client's value chain, covering Industrial Assembly, Maintenance, Internal Logistics and the Implementation of Improvements backed by digital tools. Digital transformation to achieve energy efficiency Gonvarri (International production plants) Development of ICT solutions for the collection, transmission, storage and modelling of data. These activities are aimed at monitoring energy consumption, controlling and improving production traceability and predictive maintenance. The ultimately aim is to reduce greenhouse gas (GHG) emissions. DOMINION designs, implements and operates digital transformation solutions in this and other areas. Services: O&M with technology as value added
  • 23. 2 3 Relevant examples of DOMINION’s activity_ A C T I V I T Y E X A M P L E S Turnkey projects and O&M of renewable energy plants El Soco Photovoltaic Solar Park (Dominican Republic) After completing Mata de Palma, the largest photovoltaic solar park (67.5 MW) in the Dominican Republic to date, DOMINION has managed the end-to-end the design and construction of the El Soco photovoltaic solar park (79 MW) and its 2022 kick-off. O&M contracts are also included in the scope of these projects. Design, construction and O&M of industrial infrastructures Albioma Dome (Reunion Island, France) DOMINION designed and managed the construction of two pellet storage domes for the client Albioma. Each structure has a 50m diameter, is 40m high and has a storage capacity of 45,000 m3. The client's objective was to transform their power plant into a biomass plant in record time. 360 projects: from the design to the operation and maintenance Technology integration and O&M in hospitals Antofagasta Hospital (Chile) DOMINION managed the implementation and commissioning of the medical equipment and technological infrastructure in the Antofagasta hospital. Additionally, DOMINION will be in charge of the O&M and the technology revamping for the next 15 years. The concession structure used in this hospital has been a successful case study and will be followed in the current investment plant of the country.
  • 24. 2 4 We are DOMINION: equity story ESG Activity examples FY 2021 Results
  • 25. 2 5 DOMINION’s best year, despite a complex macro environment_ 2 0 2 1 H I G H L I G H T S Another complex year with some macroeconomic factors evolving worse than expected: FOREX, increases in the price of energy and other commodities or Omicron variant. Nevertheless, thanks to our solid management model and differential execution capabilities, at DOMINION once again we have delivered… • Record Net Income, growing +28% vs 2019. • Adjusted Turnover beyond the €1bn threshold for the first time (+13% vs 2019). • Operational Free Cash Flow generation >75%of EBITA, covering all inorganic growth capital requirements. • We have decided to allocate part of our solid net cash position to remunerate our shareholders (€23m spent on share buyback programs). >€42m NET INCOME >€52m CASH FLOW GENERATION >€1bn TURNOVER 88% of Net Income SHAREHOLDER REMUNERATION growth and value creation:
  • 26. 2 6 DOMINION’s best year, despite a complex macro envirnoment_ 2 0 2 1 H I G H L I G H T S ➢ Another step on the renewable energy business value creation roadmap, with the incorporation of a minority shareholder (resulting on a post-money valuation of €213m and a €50m capital inflow). ➢ We continue to diversify within B2B, with new recurring energy contracts. ➢ Strategic focus on sustainability, as a business opportunity and a company commitment. ➢ High business development levels that maintain a healthy backlog. ➢ Solid progress on the transformation of B2C. and strategic progress: Nevertheless, thanks to our solid management model and differential execution capabilities, at DOMINION once again we have delivered… >€213m RENEWABLES VALUATION Strategic Focus ENVIRONMENTAL BUSINESS >€600m BACKLOG “Less Phone and more House” B2C
  • 27. 2 7 Income Statement 2021_ 2 0 2 1 R E S U L T S 2019 2021 vs 2019(9) 1,149.3 947.3 9% 103.7 7% 11.0% 63.1 8% 6.7% 56.7 13% 6.0% 32.9 28% 3.5% 2020 2021 vs 2020(10) 1,029.6 911.0 14% 80.0 39% 8.8% 36.1 88% 4.0% 31.6 103% 3.5% 12.5 237% 1.4% 2021 1,119.3 1,034.9 111.3 10.8% 67.9 6.6% 64.1 6.2% 42.2 4.1% (€m) Turnover Adjusted Turnover(1) EBITDA (2) % EBITDA on adjusted turnover EBITA(2) % EBITA on adjusted turnover EBIT (2) % EBIT on adjusted turnover Net Income(3) % Net Income on adjusted turnover • Net profit growing by 28% vs 2019 and operating margins approaching and/or exceeding pre-pandemic levels. • For the first time, adjusted sales exceed €1bn. • Organic growth of 12.6% vs 2019 (+13.5% vs 2020).
  • 28. 2 8 QUARTERLY EVOLUTION OF THE ADJUSTED TURNOVER (1) (€m) Adjusted Turnover(1) Evolution_ 2 0 2 1 R E S U L T S 947 2019 Organic Inorganic Forex 2021 -3.3% 0% +12.6% +9.2% 213 212 230 293 225 178 211 297 253 251 248 283 Q1 Q2 Q3 Q4 2019 2020 2021 “Double-digit organic growth (+12.6%) well above the Strategic Plan guidance” • Strong organic growth at constant currency, which showcases the strength of the business (+12.6% vs 2019) (+13.5% vs 2020). • Negative impact of the FOREX evolution, highly concentrated in Q4. • Quarter on quarter growth, with the first 3Qs of the year reaching record numbers. • A Q4 impacted by macro trends, such as the Omicron variant, higher energy prices and FOREX. ADJUSTED TURNOVER EVOLUTION BREAKDOWN (1) (€m) 1,035
  • 29. 2 9 Adjusted Turnover (1) distribution by geography_ 2 0 2 1 R E S U L T S “We maintain a diversified global presence, where Europe and Africa have gained weight over the year” * In parentheses the data corresponding to FY 2020. AMERICA 25%(26%)* EUROPE & AFRICA 65%(64%)* ASIA & OCEANIA 10%(10%)*
  • 30. 3 0 53% (51%)* B2B_Services 29% (31%)* B2B_360 Projects Adjusted Turnover (1) distribution by segment_ 2 0 2 1 R E S U L T S B2C 18% (18%)* €191m B2B 82% (82%)* €844m “Growth of all segments, compared to both 2020 and 2019, exceeding pre-covid levels." B2C B2B_ Services B2B_ 360 Projects FY 2021 FY 2020 €191.1m €296.7m €547.0m €165.0m €280.9m €465.1m +18% +6% +16% * In parentheses the data corresponding to FY 2020.
  • 31. 3 1 47% (48%)* B2B_ Services 39% (46%)* B2B_360 Projects Contribution Margin (4) distribution by segment_ 2 0 2 1 R E S U L T S B2C 14% (6%)* €19m B2B 86% (94%)* €119m B2C B2B_ Services B2B_ 360 Projects “Double-digit growth in B2B, with contribution margins above targets, and resilience in B2C, which recovers the pre-pandemic margin” FY 2021 FY 2020 €19.0m €53.5m €65.3m €6.2m €48.7m €51.1m +28% +10% +206% * In parentheses the data corresponding to FY 2020.
  • 32. 3 2 2020 2021 €746m €844m 46% 38% 16% 44% 36% 20% +8% +9% +37% Energy Industry T&T B2B Split and Highlights_ 2 0 2 1 R E S U L T S ADJUSTED TURNOVER(1) BY ACTIVITY FIELD 12% CM(4) on Adj. Turnover(1) 18% CM(4) on Adj. Turnover(1) €616m Backlog 85% Recurrency €297m €547m B2B Services B2B 360 Projects €844m • Organic growth >7% vs 2019 (+17,2% vs 2020). • Target margins achieved with QoQ improvements. ADJUSTED TURNOVER(1) BY SEGMENT • Exceptionally high margins above the 15% target. “Energy stands up as the fastest growing activity field” “Margins on sales grow to record figures with high forward visibility”
  • 33. 3 3 B2B Services Segment Highlights_ 2 0 2 1 R E S U L T S Strategic focus to consolidate all environmental related activities, with the ambition to grow, both organically and inorganically. This is endorsed by the taxonomic assessment and intended to make the most out of client requirements around sustainability. Relevant new contracts in the environmental field. New recurring energy contracts in different geographies and with different clients, in line with our spirit of diversification which is core to our Strategic Plan. Development in countries such as Colombia, with new electricity distribution services (ENEL) and telco services (CLARO).
  • 34. 3 4 B2B 360 Projects Segment Highlights_ 2 0 2 1 R E S U L T S Expansion of the renewable energy business with the entry of a minority partner in DOMINION Energy. Incus Capital has given this business a post-money valuation of over €213m and has brought in €50m to continue with the development, execution and operation of our 1GW+ pipeline with an IPP approach. Execution of a 66 MW wind farm in Mexico and a new 79 MW solar plant in Dominican Republic. Excellent execution of a 253 km electricity transmission line in Angola, a project that will be completed in 2023. A healthy book-to-bill ratio maintains our backlog above the €600m. This backlog includes the Buin-Paine hospital in Chile.
  • 35. 3 5 Dominion Energy Deal Explanation 2 0 2 1 R E S U L T S Global Dominion Access, S.A. 100% Dominion Energy, S.L. Dev., Engineering, Construction and O&M BAS Projects Corporation, S.L. Financial Sponsor 35% IPP Player Global Dominion Access, S.A. Dominion Energy, S.L. Dev., Engineering, Construction and O&M Incus Capital 76.6% 23.4% Post-money valuation: €213.75m Discounted as minority stake taken Pre deal Post deal DOMINION + €25m Incus Capital (*) + €50m BAS Projects Corporation, S.L. Financial Sponsor IPP Player Deal 35% Capital Increase (*) The deal has been carried out by a fund advised by Incus Capital.
  • 36. 3 6 B2C Segment Highlights_ 2 0 2 1 R E S U L T S 2018 2019 2020 2021 287,593 NUMBER OF SERVICES Electricity, Gas & Telecommunication services 9.9% CM(4) on Adj. Turnover 288k Services • Non-stop growth, despite an adverse macro environment: the Omicron variant has directly impacted the Christmas campaign and electricity prices have impacted our energy commercial proposition. • Recurring sales growing at 65% vs 2019 (+16% vs 2020). • We have added over 45,000 net services to our portfolio during the year and doubled Telco subscriptions. • We have launched new brands and products, in a clear multibrand, multiproduct and multichannel strategy. • The transformation of the business to a personal and household services integrator and its digitalization have set the business up for success in the years to come. We are “less Phone and more House”. • We are adapting our commercial energy proposal towards the energy transition (energytech role, signing PPAs to offer certificates of origin, etc.). 240,000 171,000 70,000
  • 37. 3 7 Net Income Evolution_ 2 0 2 1 R E S U L T S 27 33 13 42 5 6 3,3% 3,5% 1,4% 4,1% 2018 2019 2020 2021 0 10 20 30 40 50 Discontinued Net Income Margin on adj. Turnover • Net income grows by 28% vs 2019 (+237% vs 2020). • Above 4% margin on adjusted turnover for the first time. • Thanks to the operating leverage for the different margin levels. “A record net income figure supported by consistent quarterly operating margin improvements “ NET INCOME(3) EVOLUTION 2018-2021 €m - % ON ADJUSTED TURNOVER 4.1% 1.4% 3.3% 3.5%
  • 38. 3 8 Cash Flow Conversion (6) and Capital Allocation_ 2 0 2 1 R E S U L T S 2021 EBITA (2) 67.9 Organic CAPEX - Amortization (2.9) WC (8) organic variation 17.9 Net Financial Result (19.8) Taxes (7.2) Other variations (3.6) Net Operating Cash Flow (6) 52.4 Operating Net Cash Flow Conversion Rate (6) Acquisitions during the year (including acquired net debt) and Earn outs (18.9) Financial investments (26.0) Dividends paid to minority interests (2.2) Dividends distributed to shareholders (4.0) Share buyback program (23.3) Free Cash Flow (21.9) Net Financial Debt 2020 (87.4) Net Financial Debt 2021 (65.5) 77% (€m) NET CASH (5) EVOLUTION BREAKDOWN €m 65.5 52.4 -18.,9 -2.2 -4.0 -23.3 -26.0 87.4 “Strong operating FCF generation, above target and greater than the payments required for growth (organic and inorganic) and for dividend distribution. We retain a permanent positive net cash position”
  • 39. 3 9 2 0 2 1 R E S U L T S Sustained EPS growth with a 17.4% CAGR since 2015. 0,100 0,127 0,152 0,189 0,231 0,063 2015 2016 2017 2018 2019 2020 2021 0.263 Outcome: EPS + 5.47% We have completed the “2020 Share Buyback Program” and cancelled the repurchased shares. We have issued a new Share Buyback Program for an additional 5% of the company with a máximum of 2 years and €40m investment. EARNINGS PER SHARE (EPS) EVOLUTION (€) 0.100 0.127 0.152 0.189 0.231 0.063 Capital Allocation – Share Buyback Program_ €23m dedicated in 2021
  • 40. 4 0 Balance Sheet_ 2 0 2 1 R E S U L T S DECEMBER 2020 DECEMBER 2021 Fixed Assets 479.5 495.5 Net Working Capital (191.6) (208.3) Total Net Assets 287.9 287.2 Net Equity 319.7 386.4 Net Financial Debt (5) (87.4) (65.5) Others 55.5 (33.7) Total Net Equity and Liabilities 287.9 287.2 Balance Sheet (€m) DECEMBER 2020 DECEMBER 2021 Gross Debt 191 205 Liquid Assets and Equivalents (279) (270) Net Financial Debt (5) (87) (65) Debt (€m) “A strong balance sheet, with a steady positive net cash position” €13m earn outs, payable from 2022 to 2027 NFD / EBITDA <0 <0
  • 41. 4 1 Financial Discipline Fulfilment_ 2 0 2 1 R E S U L T S 66% 75% 101% 77% 2018 2019 2020 2021 24% 25% 16% 21% 2018 2019 2020 2021 Strong Operating FCF conversión, backed by an optimal balance sheet management, a business light on maintenance CAPEX needs and a good working capital management. High returns on assets, above the Strategic Plan guidance. EBITACONVERSION INTO OPERATING FCF(6) RETURNON NET ASSETS (RONA) (7) 77% > 75% target 21% > 20% target
  • 42. 4 2 BACKLOG(iv) €616m AMORTIZATION(ii) €43.4m (4.3% on adjusted turnover) (1) Other relevant figures_ 2 0 2 1 R E S U L T S WORKFORCE(i) CORPORATE STRUCTURE TOP 1 CLIENT(iii) i. Data at year end ii. Includes depreciationof fixed assets and IFRS16 iii. Within our strategic clients iv. Includes B2B Segment360 Projects Backlog 10,615 (35 countries) €26.5m (2.6% on adjusted turnover) (1) <4% on adjusted turnover(1)
  • 43. 4 3 Apéndice_ A P É N D I C E (1) CNA o Cifra de negocio ajustada: Cifra de negocio consolidada eliminadas las ventas de dispositivos (2) EBITDA: Resultado neto de explotación + Amortización (3) Bº Neto o Resultado Neto Atribuible: si no se indica lo contrario, se refiere al Resultado neto de actividades continuadas (4) Margen de Contribución: EBITDA previo a gastos de estructura y administración central (5) Deuda Financiera Neta: Deuda financiera a largo y corto plazo +/- Instrumentos financieros derivados - tesorería y otros activos líquidos a corto (6) Flujo de Caja Operativo: EBITA – exceso de CAPEX sobre amortizaciones – Variación CNO – Resultado financiero neto – Impuestos; (excluidas las operaciones inorgánicas) (7) RONA: EBITA / (Activos no corrientes – Impuestos diferidos de activo – Fondo de comercio sin desembolso + Amortización PPAs año en curso + CNO ; excluidas las adquisiciones del año en curso)). (8) CNO: Circulante Neto Operativo (9) El perímetro de consolidación varía respecto a 2019 por: i) la exclusión de los resultados de 12 meses de actividades de servicios Telco (desinvertidas en 2020) y de 12 meses de actividades IT no estratégicas (desinvertidas en 2019).; ii) la incorporación de 12 meses de Tankiac y de 9 meses de MINISO (adquisiciones 2021) ; de 12 meses de adquisiciones bolt-on llevadas acabo en 2020; y de 1 mes de Bygging India y 2 meses de Alterna (adquisiciones 2019) (10) El perímetro de consolidación varía respecto a 2020 por: i) la exclusión de los resultados de 6 meses de actividades de servicios Telco desinvertidas durante el ejercicio 2020; ii) la incorporación de 12 meses de adquisiciones bolt-on llevadas a cabo en 2020 ; y iii) la incorporación de 12 meses de Tankiac y de 9 meses de MINISO (adquisiciones 2021) . EBITA: Resultado neto de explotación + amortizaciones PPA EBIT: Resultado neto de explotación
  • 44. 4 4 Headquarters Ibáñez de Bilbao, 28 8º A y B 48009 BILBAO (SPAIN) Phone: (+34) 944 793 787 dominion-global.com © DOMINION 2021 We help our clients transform to become more efficient. We apply technology to make this happen. We are DOMINION.