Thermal Energy International reported strong financial results for the second quarter and first half of fiscal year 2020. Revenue and profits increased significantly compared to the same periods last year. The order backlog also increased substantially. Recent large orders were received from several global companies across industries. Thermal Energy International is positioned for continued growth due to the large market opportunity, established sales platform, proprietary product offerings, and growing team and global presence.
Management presentation from Thermal Energy International's 2020 Annual General Meeting of Shareholders. Provides a summary of the results of phases 1 & 2 of the Company's strategic plan; our efforts to mitigate the impacts of the COVID-19 global pandemic; highlights our digital transformation initiatives; and reviews our fiscal 2020 year-end and fiscal 2021 First Quarter financial results.
Management presentation from Thermal Energy International's 2020 Annual General Meeting of Shareholders. Provides a summary of the results of phases 1 & 2 of the Company's strategic plan; our efforts to mitigate the impacts of the COVID-19 global pandemic; highlights our digital transformation initiatives; and reviews our fiscal 2020 year-end and fiscal 2021 First Quarter financial results.
Management presentation from Thermal Energy International's 2019 Annual General Meeting of Shareholders. Provides a summary of the results of phase 1 of our strategic plan and highlights of our strategy going forward.
Management presentation from Thermal Energy International's 2018 Annual General Meeting of Shareholders. Provides highlights of recent growth initiatives and the growth strategy going forward
Management presentation from Thermal Energy International's 2019 Annual General Meeting of Shareholders. Provides a summary of the results of phase 1 of our strategic plan and highlights of our strategy going forward.
Management presentation from Thermal Energy International's 2018 Annual General Meeting of Shareholders. Provides highlights of recent growth initiatives and the growth strategy going forward
A brief presentation highlighting the strong revenue growth achieved by Thermal Energy International in the second quarter and first half of fiscal 2018.
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Similar to Thermal Energy Q2 FY2020 review and update (20)
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1. An Innovative Technology Company Providing Custom Energy and Emission Reduction Solutions
TSX-V: TMG | enq@thermalenergy.com | www.thermalenergy.com
Q2 FY2020 Review and Update
January 2020
2. Forward-looking statements
This presentation includes “forward-looking information”. For example, statements about the opportunities for repeat business; the possibility or expectation of
additional orders; growth in existing markets; entry into new markets; order backlog; introduction of new products and services; establishment and growth of
new distribution channels; growth opportunities and strategies; conversion of existing orders into revenues; are all forward looking information. Such forward
looking information reflects Thermal Energy International’s (“TEI”) current expectations with respect to future events and are based on information currently
available to management. Forward-looking information involves significant known and unknown risks, uncertainties and assumptions. For example, existing and
new customers may not place orders for any number of reasons; fulfilment of orders, installation of product and activation of product could all be delayed for a
number of reasons, some of which are outside of TEI’s control, which would result in anticipated revenues from such projects being delayed or in the most serious
cases eliminated; TEI may not be successful in identifying and developing new products and our new or existing products may not result in new orders or gain
acceptance in new geographical or industrial markets; we may not be successful in establishing new distribution channels or such new channels may not be
successful; our growth strategies may not be successful or result in the anticipated growth and orders received by TEI may not turn into revenue in the time frame
anticipated, or at all, due to many factors, some of which are outside of TEI’s control, including but not limited to TEI’s ability to deliver products on time and in
accordance with specifications and the continuing financial viability of the customer. Readers are also referred to the risk factors outlined in our management’s
discussion and analysis available at www.SEDAR.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the
forward-looking information prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking
informationcontainedinthispresentation.
Readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this presentation and TEI does
not assume any obligation to update or revise it to reflect new events or circumstances,except as required by law.
The term “EBITDAS” as used in this presentation is not a recognized measure under IFRS, does not have a standardized meaning prescribed by IFRS and is
therefore unlikely to be comparable to similar measures presented by other companies. This measure is provided as additional information to complement IFRS
measures by providing further understanding of the Company’s results of operations from management’s perspective and should not be considered in isolation
nor as a substitute for analysis of our financial information reported under IFRS. Please refer to our management’s discussion and analysis for the applicable
period for a reconciliation of EBITDASto Net income (loss), the closest IFRS measure.
www.thermalenergy.com | 2
3. Revenue
Second quarter
www.thermalenergy.com | 3
• Highest quarterly revenue in the Company’s
history, up $2.6 million or 51% from last year
$1.7
$2.5
$3.1
$3.7
$5.2
$7.8
0
1
2
3
4
5
6
7
8
9
Q2 15 Q2 16 Q2 17 Q2 18 Q2 19 Q2 19
($ millions)
4. Gross profit
Second quarter
www.thermalenergy.com | 4
• Gross profit increased by 59% compared to
Q2 2019
$0.9
$1.4
$1.6 $1.6
$1.8
$2.9
0
0.5
1
1.5
2
2.5
3
3.5
Q2 15 Q2 16 Q2 17 Q2 18 Q2 19 Q2 20
($ millions)
52% 57% 53% 42% 35% 37%
Gross margin percentages Certain figures from prior periods have been adjusted to conform to the current period presentation.
5. Operating expenses (excluding R&D)
Second quarter
www.thermalenergy.com | 5
• Operating expenses increased by 25%
compared to Q2 2019, primarily due to:
• $198k increased loss on foreign exchange
• $148k as a one time loss due to the Company’s
only lessee customer being granted protection
under the Companies’ Creditors Arrangement
Act
• Despite these increases operating expenses
as a percent of revenue dropped to 31%
$1.4 $1.4 $1.4 $1.4
$2.0
$2.4
0.0
0.5
1.0
1.5
2.0
2.5
3.0
Q2 15 Q2 16 Q2 17 Q2 18 Q2 19 Q2 20
($ millions)
81% 54% 44% 39% 38% 31%
Percentage of revenue Certain figures from prior periods have been adjusted to conform to the current period presentation.
6. EBITDAS
Second quarter
www.thermalenergy.com | 6
• EBITDAS increased $777 thousand
compared to Q2 2019
• Highest second quarter EBITDA in the
Company’s history
-$487
$84
$285
$109
-$68
$709
-600
-400
-200
0
200
400
600
800
Q2 15 Q2 16 Q2 17 Q2 18 Q2 19 Q2 20
($ thousands)
7. Net income (post tax)
Second quarter
www.thermalenergy.com | 7
• Net income increased $497 thousand
compared to Q2 2019
-$491
$26
$175
$71
-$112
$385
-600
-500
-400
-300
-200
-100
0
100
200
300
400
500
Q2 15 Q2 16 Q2 17 Q2 18 Q2 19 Q2 20
($ thousands)
8. Q2 financial summary
• Highest quarterly revenue in Company’s history, up $2.6
million or 51% from last year
• Highest second quarter EBITDAS in Company’s history,
up $777k compared to Q2 2019
• Gross profit increased by 59% compared to Q2 2019
• Operating expenses decreased to 31% of revenue
compared to 38% Q2 2019
• Record Q2 net income of $385k
www.thermalenergy.com | 8
Q2 15 Q2 16 Q2 17 Q2 18 Q2 19 Q2 20
Q2 REVENUE
Q2 15 Q2 16 Q2 17 Q2 18 Q2 19 Q2 20
Q2 EBITDAS
10. First half revenue
www.thermalenergy.com | 10
• Highest 1H revenue in Company’s history,
up $820k or 7% from last year
• But 1H last year included $6.6 million in
revenue from Resolute, excluding Resolute,
1H 20 revenue is up $7.4 million or 139%
$2.8
$5.1 $5.2
$6.8
$12.0
$12.8
0
2
4
6
8
10
12
14
YTD 15 YTD 16 YTD 17 YTD 18 YTD 19 YTD 20
($ millions)
June 1 – November 30, 2015 - 2020
11. First half gross profit (adjusted)
www.thermalenergy.com | 11
• Gross profit increased by 35% compared to
six months FY2019
$1.4
$2.3
$2.9 $2.8
$3.8
$5.1
0
1
2
3
4
5
6
YTD 15 YTD 16 YTD 17 YTD 18 YTD 19 YTD 20
($ millions)
June 1 – November 30, 2015 - 2020
51% 46% 55% 41% 32% 40%
Gross margin percentages Certain figures from prior periods have been adjusted to conform to the current period presentation.
12. First half operating expenses (excluding R&D)
June 1 – November 30, 2015 - 2020
www.thermalenergy.com | 12
• Operating expenses increased by $290k or
7.3%
• Despite the increases, the Operating
Expenses as a percent of revenue remained
unchanged
$2.7 $2.7 $2.6
$2.9
$4.0 $4.3
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
YTD 15 YTD 16 YTD 17 YTD 18 YTD 19 YTD 20
($ millions)
95% 53% 50% 42% 33% 33%
Percentage of revenue
13. First half EBITDAS
www.thermalenergy.com | 13
• 1H EBITDAS is $1.2 million compared to
($119k) last year
• Highest EBITDAS in the Company’s history
exceeding the even the annual EBITDAS
record of $750k
-$1,145
-$317
$289
-$78 -$119
$1,181
-1500
-1000
-500
0
500
1000
1500
YTD 15 YTD 16 YTD 17 YTD 18 YTD 19 YTD 20
($ thousands)
June 1 – November 30, 2015 - 2020
14. First half net income
www.thermalenergy.com | 14
• 1H net income is $626k compared to a loss
of $162k last year
• Highest 1H net income in the Company’s
history exceeding even the Company’s
annual net income record of $619k
-$1,160
-$427
$95
-$110 -$162
$626
-1400
-1200
-1000
-800
-600
-400
-200
0
200
400
600
800
YTD 15 YTD 16 YTD 17 YTD 18 YTD 19 YTD 20
($ thousands)
June 1 – November 30, 2015 - 2020
15. Second quarter end cash position
www.thermalenergy.com | 15
$1.0 $1.2
$1.5
$1.8
$2.2
$5.0
0.0
1.0
2.0
3.0
4.0
5.0
6.0
Q2 15 Q2 16 Q2 17 Q2 18 Q2 19 Q2 20
• Steady year over year increases
• Cash position up $2.8 million or 124% since
Q2 2019
($ millions)
November 30, 2015 - 2020
16. Second quarter end working capital
November 30, 2015 - 2020
www.thermalenergy.com | 16
$1.5
$0.2
$1.3 $1.4
$2.1
$2.4
0.0
0.5
1.0
1.5
2.0
2.5
3.0
Q2 15 Q2 16 Q2 17 Q2 18 Q2 19 Q2 20
• Continued growth in working capital
• Up $379 thousand since Q2 2019
($ millions)
18. Order book
Order backlog reported with Q2 results
www.thermalenergy.com | 18
$2.3
$6.5 $6.5
$5.3
$4.9
$8.2
0
1
2
3
4
5
6
7
8
9
Q2 15 Q2 16 Q2 17 Q2 18 Q2 19 Q2 20
• Order backlog at the end of the quarter
was $8.2 million, up $3.3 million or 67%
higher than the same time last year
($ millions)
19. YTD financial summary
• Highest 1H revenue in company’s history, up $820k or 7% from last
year
• 1H last year included $6.6 million in revenue from Resolute,
excluding Resolute, 1H 20 revenue is up $7.4 million or 139%
• 1H 20 also has the highest profit (both Net income and EBITDAS) in
the company’s history
• Order backlog at the end of the quarter was $8.2 million, up $3.3
million or 67% higher than the same time last year
• Exceptionally strong and growing cash and working capital
• Evidence that our strategy is working
• Revenue growth in Germany and Poland
• Growth in the number of HR projects especially in the EU
• Effective integration of the BEI products in some of our projects
www.thermalenergy.com | 19
YTD 15 YTD 16 YTD 17 YTD 18 YTD 19 YTD 20
YTD REVENUE
YTD 15 YTD 16 YTD 17 YTD 18 YTD 19 YTD 20
YTD EBITDAS
20. $482K GEM steam trap order
from a top 5 multinational tire
manufacturing company
$738K FLU-ACE® heat recovery
system order from leading
European meat processing
company
$1.4M order to supply a heat
recovery system to a
multinational specialty nutrition
corporation
$650Khigh-efficiency heatrecovery
system order from aleading
Europeanbrewer
Recent orders
Customers include leading global companies across many sectors
www.thermalenergy.com | 20
21. www.thermalenergy.com | 21
Date Order Value Customer
Nov 2019 $482,000 Leading Tire Manufacturing company
Oct 2019 $738,000 Leading European meat processing company
Aug 2019 $1,400,000 Multinational speciality nutrition corporation
Aug 2019 $650,000 Leading European brewer
May 2019 $1,500,000 Leading snack food producer
Apr 2019 $850,000 Top 10 global tissue producer
Mar 2019 $2,300,000 Leading animal nutrition company
Mar 2019 $1,800,000 Major milk processing company
Jan 2019 $2,400,000 Leading food ingredients company
Recent order examples
22. www.thermalenergy.com | 22
• Named one of Canada’s Top Growing
Companies, in the Globe and Mail,
Report on Business’s inaugural ranking
of Canadian companies
• Based on our three-year revenue
growth of 156% from 2015 to 2018
One of Canada’s fastest growing companies
23. Growth Strategy & Outlook
Highlights
1. Enormous, fast-growing market
2. Experienced and established North American and
European sales platform
3. Proprietary products sold to leading companies in
many sectors and geographies
4. Growing team, global presence and product
offerings
5. Poised to continue strong track record of growth
www.thermalenergy.com | 23
24. An Innovative Technology Company Providing Custom Energy and Emission Reduction Solutions
TSX-V: TMG | enq@thermalenergy.com | www.thermalenergy.com
Connect
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