company presentation italeaf 2014 nasdaq omx eataly
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COMPANY PRESENTATION
2014 - MILAN
THE FIRST ITALIAN COMPANY BUILDER
By accepting this document, and in consideration for it being made available to such recipient, each recipient agrees to keep strictly confidential the information contained in it and any informationotherwise made available by Italeaf SpA (the "Company"), whether orally or in writing. In the case of a corporate recipient, this presentation may only be disclosed to such of its directors, officers oremployees who are required to review it for the purpose of deciding whether to make an investment in the Company. This document has been provided to each recipient at their request, solely fortheir information, and may not be reproduced, copied, published, distributed or circulated, to any third party, in whole or in part, or published in whole or in part for any purpose, without the expressprior consent of the Company. The purpose of this document is solely to provide information to persons who have expressed an interest in investigating the possibility of investing in the Company.
The information contained in this confidential document (the “Presentation”) has been prepared and distributed by the Company. It has not been fully verified and is subject to material updating,completion, revision, verification and further amendment.
This Presentation does not constitute, and the Company is not making, an offer of transferable securities to the public within the meaning of the definition cotained under article 1 letter of theLegislative Decree 58/1998 and exemptions from the offer of financial instruments to public regime do apply in compliance with article 100, letters a) and b), of the same decree. Indeed, thePresentation is being delivered for information purposes only to entities which are qualified investors pursuant to article 100 letter a) of Legislative Decree 58/1998 and to a very limited number ofpersons up to 149 persons other than qualified investors, pursuanto to article 100 letter b) of Legislative Decree 58/1998 (together, the "Relevant Persons"). This Presentation is directed only atRelevant Persons and must not be acted on or relied upon by persons who are not Relevant Persons. Any other person who receives this Presentation should not rely or act upon it. By accepting thisPresentation and not immediately returning it, the recipient is deemed to represent and warrant that: (i) they are a person who falls within the above description of persons entitled to receive thePresentation; and (ii) they have read, agree and will comply with the contents of this notice.
Prospective investors must rely on their own examination of the legal, taxation, financial and other consequences of an investment in the Company, including the merits of investing and the risksinvolved. Prospective investors should not treat the contents of this Presentation as advice relating to legal, taxation or investment matters and are advised to consult their own professional advisersconcerning any subscription of shares in the Company. Certain of the information contained in this Presentation has been obtained from published sources prepared by other parties. Certain otherinformation has been extracted from unpublished sources prepared by other parties which have been made available to the Company. The Company has not carried out an independent investigationto verify the accuracy and completeness of such third party information. No responsibility is accepted by the Company or any of its directors, officers, employees or agents for the accuracy orcompleteness of such information.
All statements of opinion and/or belief contained in this Presentation and all views expressed represent the directors’ own current assessment and interpretation of information available to them asat the date of this Presentation. In addition, this Presentation contains certain "forward-looking statements", including but not limited to, the statements regarding the Company’s overall objectivesand strategic plans, future commercial production, production targets, timetables, capital expenditures, work programs,etc. Forward-looking statements express, as at the date of this Presentation, theCompany’s plans, estimates, forecasts, projections, opinions, expectations or beliefs as to future events, results or performance. Forward-looking statements involve a number of risks anduncertainties, many of which are beyond the Company’s control, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differmaterially from those anticipated in such statements. Risks and uncertainties that could cause results of future events to differ materially from current expectations expressed or implied by theforward-looking statements include, but are not limited to, requirements of additional financing risk, competitive pressures, changes in the regulatory framework and prevailing macroeconomicconditions and other risks. No representation is made or assurance given that such statements or views are correct or that the objectives of the Company will be achieved. The reader is cautioned notto place reliance on these statements or views and no responsibility is accepted by the Company or any of its directors, officers, employees or agents in respect thereof. The Company does notundertake to update any forward-looking statement or other information that is contained in this Presentation. Neither the Company nor any of its shareholders, directors, officers, agents, employeesor advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completenessof the information contained in this Presentation or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of thisPresentation. Mangold Fondkommission AB (“Mangold”) which is authorized and regulated under Sweden applicable regulation is acting exclusively for the Company as its Certified Adviser and forno-one else in relation to the matters described in this Presentation and is not acting for any recipient of this Presentation and will not be responsible to anyone other than the Company for providingthe protections afforded to clients of Mangold nor for providing advice to any person other than the Company in relation to the contents of this Presentation. Neither the issue of this Presentation norany part of its contents is to be taken as any form of contract, commitment or recommendation on the part of the Company or the directors of the Company to proceed with any transaction or acceptany offer and the right is reserved to terminate any discussions or negotiations with any prospective investors. The Company reserves the right without any notice or liability to the recipient of thisPresentation or its advisers to: (i) change any of the procedures, timetable or requirements or terminate negotiations at any time prior to the signing of any binding agreement with investors; (ii)provide different information or access to information to different persons; (iii) agree variations to the property, rights and liabilities comprised in the Company; and (iv) to negotiate at the same timewith more than one person. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. ThisPresentation should not be considered a recommendation by the Company or Mangold or any of their respective affiliates in relation to any prospective acquisition of shares in the Company. Noundertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of the Company, Mangold or any of their respective affiliates, any of their respectivedirectors, officers or employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this Presentation and no responsibility or liability isaccepted for any such information or opinions or for any errors or omissions.
COMPANY PRESENTATION
DISCLAIMER
2
MANAGEMENT TEAM
COMPANY PRESENTATION
Stefano Neri, Chairman and Founder of the Group
He is the founder of Italeaf Group. CEO of TerniEnergia SpA. Since 1985 Prof. Neri has been a leading Administrative lawyer andsince 1997 he has been a qualified legal advisor to the Judicial Council (Magistrature superiori). He held the professorship in legalaffairs at\ the Engineering faculty of the University of Perugia. He has held the task of expert legal counsel for the Ministry ofPublic Administration and Coordination of Information and Security Services (Ministro della Funzione Pubblica e per ilCoordinamento dei Servizi di Informazione e Sicurezza). He has also held the task of Vice Chairman of Interpark Servizi perl’Ecologia S.r.l., a subsidiary of Agarini – Falk Group. He is the author of several publications in the field of Administrative Law.
Filippo Calisti, CFO
CFO of Italeaf SpA since 2014. He joined Italeaf Group in 2010 as CFO of TerniGreen, that was listed on AIM Italia in November2010 and then merged in TerniEnergia in 2012, and in 2013 he has also held the role of Planning and Control Officer inTerniEnergia SpA. From 2002 to 2010 he worked for PricewaterhouseCoopers as auditor. He graduated in Economics at the LUISSGuido Carli University in Rome in 2001
Federico Zacaglioni, External Relations & Development
CEO of Skyrobotic Srl and Head of corporate communication in TerniEnergia S.p.A., since 2012 he’s the head of External Relations& Development in Italeaf S.p.A., Founder and managing director of Global Media Snc, a Web Content and CommunicationCompany. Since 1995 he’s a Licensed Journalist – Member of Ordine dei Giornalisti (Journalist Society). Since 1990 he held therole of copy editor and contributor for many newspaper and magazines
Monica Federici, CEO
CEO of Italeaf SpA and director of Italeaf UK ltd and Italeaf HK ltd, subsidiaries of Italeaf SpA. Non-Executive Director ofTerniEnergia SpA. Formerly she was Chief Financial Officer of AlpitourWorld H&R SpA where, besides managing all theadministrative and financial activities of the company, she led different projects related to incoming foreign guests and to thepromotion of the company abroad. Graduated in chemistry at University of Rome “La Sapienza”, Master in Business Administrationat Bocconi University in Milan.
Ivano Emili, Executive Director
Ivano Emili is an authorized representative of TerniEnergia committed in Environmental plants management. From 2010 to 2012at TerniGreen with the qualification of authorised representative of BU Metals and board member, Chief Executive Officer ofT.E.R.N.I. Research Ionizing Radiations from 2005 to 2007. Technician for Non-Destructive Testing at the Terni stainless plant in1966-1990. Director of Centrotest Srl since 1985, with technical and operational management responsibilities. ProvincialPresident of Casartigiani Association and from 2010 to 2011 Vice president of CNA Association.
3
“WE TURN TECHNOLOGICAL STARTUPS INTO SUCCESSFUL GLOBAL COMPANIES”
ITALEAF OVERVIEW
COMPANY PRESENTATION
• Identification, selection and promotion of industrial initiatives in the cleantech sectorand in innovative industrial productions
• Direct investment in initiatives with high growth potential• Incubator for new initiatives through first class infrastructure and facilities (industrial
site in Nera Montoro)• Operational support to new initiatives leveraging on the strong expertise and track
record of the Group in the relevant sectors
THE
BUSI
NES
S
• Reliable and efficient business models with low risk profile• Profitable, cash generative and dividend paying business• Successful historical growth and balanced diversification of the business in the Power
Generation from renewable energy and in the environmental sector• Leading positioning in the Italian market
• Fast growing sector with relatively little competition• Lack of equity investment in small and micro cap sector in Italy (venture capital
investments in Italy are 5 times lower than in the rest of Europe)*• Difficult to access credit for entrepreneurial initiatives• Italy needs to implement sustainable strategies to generate innovation• Barriers to the internationalization process for small and micro cap
THE
MA
RKET
THE
OPP
ORT
UN
ITY
* EVCA (European Venture Capital Association)
4
HISTORY
COMPANY PRESENTATION
2010 2011 2012 2013
Evolution of the business
Capital market transactions
Share capital increase of TerniEnergia and access to the STAR segment of the Italian MTA market(€10.8m raised)
Listing of TerniGreenon AIM Italia market(€4.1m raised)
Merger between TerniEnergia and TerniGreen and consequent delisting of TerniGreen
November 2010
November 2011
May 2012
Acquisition of Nera MontoroIndustrial area
June 2010
Formation of Skyrobotic for the development and production of innovative unmanned aerial vehicles
December 2013
Formation of GreenLed for the development and production of LED lighting (technology is protected by international patents)
August 2012
Acquisition of a majority stake in Lucos Alternative Energies (focus on energy efficiency)
August 2011
Formation of TerniGreen focused on environmental business
September 2010
2014
Formation of WiSavedevelopment of an energy efficiency system through the Remote Control and Remote management of environments
June 2014
Demerger between Italeafand TERNI Research. Italeaf becomes the new Parent Company of the Group
February 2014
Formation of Italeaf focused on real estate management, holding activities, company builder
December 2010
5
GROUP STRUCTURE
54,84% 51%
• Renewable energies: Internationalsystem integrator in the PV sector;Power generation activity(approximately 40 MW of operating PVplants under management)
• Environmental sector: recovery of out-of-usage tyres; treatment of organicwaste through biodigesters; Energyproduction from biomasses;management of a biologic watertreatment plant; decommissioning ofindustrial plants
• Energy efficiency (through its controlledcompany Lucos Alternative Energies)
• Listed on STAR segment of BorsaItaliana. Market capitalization of about€ 80m.
• Design, development andproduction of LED lightingtechnology with highly innovativefeatures
• The product is certified to operatein conditions of high thermal stressjust in industrial environments orurban and suburban areasparticularly exposed to theelements.
• The technology is protected byinternational patents.
• Design, development andproduction of innovative UAS -Unmanned Aircraft System,initially in the mini and microclass (weight <5 kg for the miniand <25 kg for the micro)
• The products will be certifiedunder the EASA European rulesand Italian ENAC rules.
COMPANY PRESENTATION
100%100%
• Promotes, supports, develops new businessand industrial activities in the cleantech andtechnological sector and commercializes theproducts developed by Group’s company
• Promotes, supports, develops new businessand industrial activities in the cleantech andtechnological sector and commercializes theproducts developed by Group’s company inthe Asia Pacific area.
WiSave
84,71% 51%
• TermoWeb (patent pending) is anelectronically integratedinfotainment system, which aims toimprove energy efficiency throughthe Remote Control and Remotemanagement environments.
23 SPV – 5 JV – 4 subsidiaries abroad
6
SHAREHOLDING AND CORPORATE GOVERNANCE
Current shareholding structure
* Skill & Trust Holding is controlled by Stefano Neri** N. 25 shareholders
Corporate Governance
Vittorio Pellegrini (Chairmen)Marco ChieruzziPaolo Sebastiani
Board of Statutory Auditors ***
Auditors
Board of Directors
PricewaterhouseCoopers
COMPANY PRESENTATION
*** It is a board whose incorporation is mandatory according to the applicable Italian laws, The Board of Statutory Auditors can be considered similar to internal audit committee in English corporate law
Stefano Neri – ChairmanLegal representative
Monica Federici – CEOResponsibility of ordinary and extraordinary administration up to € 200.000Environmental Officer
Ivano Emili – Executive DirectorResponsibility of ordinary administration Manager for the Industrial activities and real estate facilities up to € 200.000Safety coordinator OfficerHuman resources Officer
Board of Directors is responsible for all not specified above
52,1%
6,7%
11,4%
13,8%
4,7%
9,0%2,3%
Skill & Trust Holding S.r.l.
Era Giovanni
Other Shareholders **
SIFIP S.p.A.
Costruzioni Baldelli S.r.l.
Royal Club Perugia S.r.l.
NerIndustrie S.p.A.
7
MANAGEMENT TEAM ORGANIZATIONAL STRUCTURE
COMPANY PRESENTATION
Board of DirectorsStefano Neri (Chairman)
Monica Federici (CEO)Ivano Emili (Executive)
LogisticsFrancesco UrbaniResearch & Development
Consultant Corrado Giancaspro
Accounting/TreasuryAnna Maria Laurucci
Tax AccountingClaudio Borgna
Venture Consultant
Dante Ravagnan
CIOCristiano Manzoni General Affairs
Legal & Human ResourceMarcella Arioti BrancifortiExternal Relations
& DevelopmentFederico Zacaglioni
FinancialConsultant
Fabio Cari
SalesRoberta Scatteia
CFOFilippo Calisti
8
ITALEAF ACTIVITIES
COMPANY PRESENTATION
INDUSTRIAL ESTATE
COMPANY BUILDER
• Ownership and management offacilities in Nera Montoro (Total area 24Ha; Covered area 2,3 Ha; Book Value of€18m based on an independentvaluation report) and Terni (Coworkingspace area: 1,800 sqm; Book Value of€3m based on an independent valuationreport) both functional to incubatoractivity
• Covered area expandable withrelatively low investment
• Industrial renewal through thedevelopment of an “eco-industrial park”(with the counselling of Politecnico diMilano University)
• Management of investment portfolio• Centralized service activity to Group
companies (finance, treasury, IT, legal,corporate communication, logistics, foradministrative, management andcommercial support)
• Facilitates value creation and growth forinvestee companies
• Select new initiatives in the cleantech and industrialinnovative sector
• Integrated approach to boost industrialization• Invest initial capital, launching of majority-owned
startups• Seed Incubator: Innovative incubation with seed
investments to create a high skilled company network
USING OUR TEAM’S EXPERIENCE AND NETWORK TO SCALE OUR
COMPANIES QUICKLY AND EFFICIENTLY
USING OUR FACILITIES, SKILLS AND FINANCE ON SCALABLE CLEANTECH COMPANIES WITH
GROWTH PERSPECTIVES
USING OUR STRATEGIC INFRASTRUCTURE, LOGISTICS AND
BUSINESS ECOSYSTEM TO SUPPORT COMPANIES’ INDUSTRIAL NEEDS
HOLDING
9
INDUSTRIAL ESTATEOF NERA MONTORO PARK
Facilities
• Total surface: 24 Ha
• Total covered surface: 2.3 Ha
• Storage volume : 7,000 m3 (expandable to 20,000 m3)
Infrastructure / logistics
• Distance from A1 Highway (Orte): 5 Km
• Presence of railway station of Nera Montoro
• Internal railway
TYRES RECYCLE PLANT
BIODIGESTER AND COMPOSTING PLANT
ECO-INDUSTRIALRENEWAL PROJECT
SECURITY VIRTUAL CENTER
WATER REMEDIATIONTREATMENT PLANT
LED LIGHTINING PRODUCTION
COMPANY PRESENTATIONBook Value of €21m based on an independent valuation report
10
INDUSTRIAL ESTATEINCUBATOR IN TERNI
Facilities
• Total surface: 2,000 sq.m
• Total covered surface: 1,800 sqm
Infrastructure / logistics
• Distance from Terni-Orte highway: 1 Km
• Located in the Terni industrial area (Maratta)
Advanced System Company Group
3D PROTOTYPINGFABLAB
UAV SYSTEMSPRODUCTION
ROBOTICSENGINEERING
ELECTRONICALPRODUCTIONGREEN
CHEMISTRY
SMARTCITYTECHNOLOGIES
COMPANY PRESENTATION 11
RETURN OF INVESTMENTS TROUGH THE ACHIVEMENT OF A “FACTORY OF FACTORIES”
ITALEAF BUSINESS MODEL
COMPANY PRESENTATION
IDEA STARTUP EARLY STAGE EXPANSION MATURITYSTAGE OF COMPANY GROWTH
COMPANYBUILDER
HOLDINGACTIVITY
STARTUP BREEDING GROUND
SCOUTINGINCUBATION
SERVICES
BUSINESS ACCELERATIONFUNDINGSERVICES
INDUSTRIAL FACILITIES
PORTFOLIO MANAGEMENTSUPPORT TO EXIT
SERVICESINDUSTRIAL FACILITIES
WiSave
ACQUISITION VALUE BUILDING EXIT
VALUE MANAGEMENT
ITALEAF PLANS A MULTIPLE EXIT STRATEGY FROM INVESTEE COMPANIES TO PROVIDE A PROFITABLE RETURN OF INVESTEMENTS
12
EVOLUTION OF NET INCOME AND DIVIDENDS DISTRIBUTION OVER THE LAST FOUR YEARS
A SATISFYING INVESTMENT FOR ITALEAF SHAREHOLDERS
COMPANY PRESENTATION
* Derived on the financial statement (TERNI Research + Italeaf) under Italian GAAP
3.218
2.3412.230
1.076
1.539 1.539
1.177 1.200
48%
66%
53%
111%
0%
20%
40%
60%
80%
100%
120%
0
500
1000
1500
2000
2500
3000
3500
2010 2011 2012 2013
Net Income * Dividend Payout ratio
Euro
'000
13
AN ECONOMICAL AND FINANCIAL BALANCED COMPANY BEFORE DIVIDENDS FROM SUBSIDIARY
ITALEAF PRO FORMA FIGURES
COMPANY PRESENTATION
Values in Euro 2011 2012 2013
REVENUES 4.929.515 6.058.545 5.762.491
OPERATING COSTS 6.434.081 7.524.358 5.044.695
EBITDA (1.504.567) (1.465.812) 717.797
DEPRECIATION AND AMMORTIZATION 969.329 1.049.497 953.758
EBIT (2.473.895) (2.515.309) (235.961)
Net Financial Income 2.798.450 2.048.008 1.308.310
Extraordinary Income 1.865.352 3.070.986 249.607
EBT 2.189.907 2.603.685 1.321.956
Net Result 2.340.657 2.230.249 1.075.554
Revenues relate mainly to service provided and the charge-backcosts for utilities provided to the group companies, and also by thedevelopment of real estate (sale of industrial buildings to Groupcompanies)
Costs constituted by supplies, services relating to the managementof the property (Nera Montoro + Maratta) and the cost of personnel
Depreciation and amortization related to real estate assets
Income relating to dividends and remuneration of guaranteesissued on behalf of TerniEnergia (guarantees for about 45 millioneuros), net of interest expense
Income from extraordinary transactions (disposals business units inthe Group companies)
* Derived on the financial statement (TERNI Research + Italeaf) under Italian GAAP
14
ITALEAF NET ASSET VALUE
Equity value equal to approx. € 3.2 per share
Recent transactions (24th May, 2011): sale of 4% of total share capital at a price of € 3.02 per share
COMPANY PRESENTATION
Book value (Confirmed by the Report of an independent expert)
Corresponding to the portion of Net Equity 2013
Book value (acquisition cost) These are the top lending banks of the
Group
Calculated as a percentage of the current Market Cap (€80m)
As of December 31, 2013
Tangible assets (€m):Real Estate Property (Nera Montoro & Maratta) 21,0 Photovoltaic Plants (0,8 MWp) 2.7
Controlling stake in (€m):54,84% stake in TerniEnergia SpA 43.9 84,71% stake in Greenled Industry SpA 3.0 51% stake in Skyrobotic SpA 0.5
Minority stake in (€m):Banca Popolare di Vicenza 2,5 Veneto Banca 4.0
GROSS ASSET VALUE (€m) 77.6
Net Financial Debt (€m) -17.9Holding Discount 20%NET ASSET VALUE (€m) 47.8
Numbers of share issued (m) 15 VALUE PER SHARE (€) 3.2
15
GROUP STRATEGY
COMPANY PRESENTATION
INVESTING IN STARTUP COMPANIES OPERATING IN
INNOVATIVE SECTORS WITH HIGH GROWTH PERSPECTIVES
AND INTERNATIONAL VOCATION
CREATION OF AN APPLIED RESEARCH CENTRE FOR NEW
PRODUCTS DEVELOPMENT
INTERNATIONALIZATION OF GROUP ACTIVITIES THROUGH ITALEAF UK AND ITALEAF HK
EXIT STRATEGY FOR INVESTEE COMPANIES (IPO OR
SECONDARY BUYOUT) TO GENERATE ROI FOR THE
SHAREHOLDERS AND RE-INVEST IN NEW PROJECTS
REAL ESTATE ENHANCEMENT THROUGH THE REALIZATION OF UPMARKET PROPERTIES
(E.G. PROJECT WITH POLITECNICO DI MILANO
UNIVERSITY) AT THE SERVICE OF STARTUP ACTIVITIES
VALUE MANAGEMENT STRATEGY FOR INVESTEE
COMPANIES
16
ACTIONPLAN TO MEET THE NASDAQ OMX FIRST NORTH REQUIREMENTS
COMPANY PRESENTATION
On June 16, 2014 it will be held the shareholders meeting to approve on:
• The listing project on Nasdaq OMX First North market• Capital increase up to € 2 MIO (private placement)
• € 2.5 per share
With this transaction the Company aims at achieving the requirements for list on First North Market
(100 shareholders – 10% of the share held by general public)
17
ITALEAF GROUP
BACKUP SLIDES
COMPANY PRESENTATION 18
ITALEAF GROUP
FINANCIAL INFORMATION
COMPANY PRESENTATION
BALANCE SHEETReclassified Balance Sheet Consolitated Pro-forma Consolidated
As at March, 31 As at March, 31 As at December, 31 As at December, 31€/000 2014 2013 2013 2012
Intangible assets 5,290 5,586 5,268 5,617Property, plant and equipment 186,292 151,931 187,356 95,377Financial fixed assets and other intangible assets 27,375 17,971 24,996 19,446Fixed Assets 218,957 175,488 217,620 120,440
Inventories 8,993 8,339 8,530 8,773Trade receivables 31,934 34,962 28,381 43,810Other assets 11,526 14,882 16,065 10,126Trade payables (24,450) (20,247) (32,648) (27,461)Other liabilities (10,021) (15,679) (9,039) (13,966)Net working capital 17,983 22,258 11,289 21,282
Provisions and other non-trade liabilities (15,601) (13,115) (14,696) (9,365)
Net Invested Capital 221,339 184,630 214,214 132,357
Shareholders’ Equity 58,993 54,961 61,490 51,724
Current net financial position 15,421 54,354 31,780 42,991Non-current net financial position 146,926 75,315 120,943 37,642Total net financial position 162,346 129,669 152,724 80,633
Total indebteness and Equity 221,339 184,630 214,214 132,357
19
COMPANY PRESENTATION
ITALEAF GROUP
FINANCIAL INFORMATIONINCOME STATEMENT
Reclassified Income Statement Consolitated Pro-forma Consolidated Pro-forma Consolidated Pro-forma Consolidated
Three months ended 31 March 2014
Three months ended 31 March 2013 Full Year 2013 Full year 2012
€/000
Net revenues from sales and services 10,605 9,131 68,084 70,218Production costs (4,714) (6,219) (49,740) (53,295)Added value 5,891 2,912 18,343 16,923Personnel costs (1,672) (2,006) (7,130) (8,071)EBITDA 4,219 906 11,213 8,852Amortization, depreciation, provisions and write-downs (2,032) (877) (8,419) (6,166)EBIT 2,188 29 2,795 2,686Financial income and charges (2,182) 1,544 (2,328) (2,495)Portions of results attributable to the JV 23 (147) 2,718 3,243Pre-tax result 29 1,427 3,185 3,434Income taxes 212 167 763 (398)
Net profit for the period 240 1,593 3,948 3,036
20
MANAGEMENT VALUE – TERNIENERGIA
COMPANY PRESENTATION
•34.3 MW in full ownership•8.1 MW in JV 50:50•1.5 MW biomass
•272 PV Plants installed•274.1 MW installed•20,000 area lights managed
•2 Biomass plants installed•1 Discarded Tyres recovery plant installed•2 water remediation plant installed
INDEPENDENT POWERPRODUCER
INTEGRATEDENERGYSOLUTIONS
ENVIRONMENTALRESOURCESSOLUTIONS
Renewable energy production by direct investments or with primary co-investors.
Development and construction(EPC or BOT) of utility scaleplants for premium customers.Energy efficiency activity withthird part financing formula.O&M activity.
Direct investments for sustainable solutions to recover energy and material from marginal resources.
EVOLUTION OF NET INCOME AND DIVIDENDS DISTRIBUTION OVER THE LAST FOUR YEARS
MARKET CAP (€MLN)
36.030 42.194
97.370
67.881 79.361 81.618
2008 2009 2010 2011 2012 2013
* Derived on the consolidated financial statement
Euro
'000
21
CREATING VALUE – GREENLED
COMPANY PRESENTATION
INDUSTRIAL LIGHTING STREET LIGHTING
EPI/CHIP PACKAGE MODULE DRIVERS LUMINAIRE CONTROL SYSTEM SERVICE
UPSTREAM DOWNSTREAMMIDSTREAM
HARDWARE SOFTWARE
22
CREATING VALUE – SKYROBOTIC
COMPANY PRESENTATION
DECEMBER 20, 2013 ESTABLISHMENT OF SKYROBOTIC SRL AS A STARTUP COMPANY
€1,030MLN
SEPTEMBER, 2014
CAPITAL INCREASE €1,500MLN
UPSTREAM DOWNSTREAMMIDSTREAM
HARDWARE SOFTWARE
RAW MATERIALS COMPONENTSUAV
MANUFACTURERUAV
OWNERUAV
OPERATORDATA
POSTPROCESSOR
ESACOPTER FIXED WING GCS
Small and Micro segment
23
CREATING VALUE – WiSave
COMPANY PRESENTATION
JUNE 3, 2014 ESTABLISHMENT OF WiSave SRL AS A STARTUP COMPANY
€ 120,000
UPSTREAM DOWNSTREAMMIDSTREAM
R&DPRODUCTS AND
SERVICE DEVELOPMENT
MARKETINGSALES AND
DISTRIBUTION SUPPORT CRM & LOYALITY
WiSave
DEVELOPMENT OF NEW PRODUCTS AND APPLICATIONS IN ENERGY SAVING, SURVEILLANCE, HOME AUTOMATION AND LIGHTING
Enable buildings to consume lessenergy through Internet of things
Innovative system mades up ofone or more WiFi thermostatscommunicating with a control andmanagement software named“Core System” that interfaces to aWeb-Server through Internet(CLOUD SYSTEM)
Energy savings up to 20% isachievable
24
COMPANY PRESENTATION
“NEW STRATEGIC SECTORS FOR THE FUTURE BUSINESS DEVELOPMENT”
STARTUPS BREEDING GROUND
RESEARCH CENTER 3D PRINT & DESIGNAGRIFOOD
Development of a technologicalresearch center hub divided in3 areas:• chemical, physical and
biological analysis.• materials testing and
analysis.• prototyping and small scale
production, for real scalemechanical testing.
• Research and development• Prototyping 3D• Reverse engineering• 3D scanning• Industrial Design
Diptera will produce magmeal,a type of feed for pigs, poultryand fish that can substitute thecurrently used fishmeal.Magmeal is made of fly larvae(maggots) and can be used incombination with other typesof feeds.Magmeal can be produced atvery competitive cost and couldbe sold for less than1000$ per ton, while fishmeal(a commodity) sells for 1500-2000$ per ton.
25