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2014 PRELIMINARY RESULTS – Alkane Energy Plc

Alkane Energy Plc · Mar 11, 2015 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 1
    Alkane Energy plc Preliminary Results For the 12 months ended 31 December 2014
  2. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 2
    Alkane Energy: Gas to Power Leading independent power generator Generating enough power for 75,000 homes 27 medium sized power plants across UK Currently 145 MW installed capacity Operating model: Standardised gas powered gensets…
  3. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 3
    Highlights Operational Installed capacity timeline (MW) Significant increase in output from 95GWh to 160 195GWh since 2009 140 Power response capacity increased to 98MW (2013: 36MW) 120 Acquired sites now in full operation 100…
  4. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 4
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  5. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 5
    Financial Highlights Revenue 16.0m 22% Generation revenue 14.8m 10% Average selling price 53/MWh - Adjusted EBITDA 7.6m 1% Adjusted PBT 3.3m 2% Adjusted eps from continuing operations 2.61P 13% 5
  6. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 6
    Adjusted Items 000 2014 2013 Profit on transfer of shale licences 9,953 - Impairment of available for sale asset (5,036) - 4,917 Impairment of non shale assets (4,069) - Acquisition costs (612) (470) DBO write-off (310)…
  7. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 7
    Published Results 000 2014 2013 Change Revenue 15,961 20,571 (22%) Profit before interest 4,232 3,333 27% Interest (1,022) (678) 51% Profit before tax 3,210 2,655 21% Taxation 228 100 128% Profit after tax 3,438 2,755 25%…
  8. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 8
    Segmental Analysis Continuing Design, Build & Generation Total operations 000 Operate (Adjusted) 2014 2013 2014 2013 2014 2013 Baseload 10,174 10,286 Power Response 4,629 3,153 Revenue 14,803 13,439 1,158 7,142 15,961 20,571…
  9. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 9
    Balance Sheet Fixed Assets 000 31 Dec 2014 31 Dec 2013 Change 61.3m 60 Fixed assets 61,333 49,206 25% Engines 55 23.3m Egdon Shares 5,464 - - 50 45 Net Debt (18,051) (10,235) 76% 40 Convertible Loan (2,337) (2,199) 6% 35 Pumps…
  10. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 10
    Cash Flow m 20 15 10 5 0 EBITDA Working Operating Cash Loans Shares Issued Acquisitions Capex Interest & Cash Capital Flow Dividends Movement Working Capital Funds Raised Acquisition Capex Dividends Cash 2m 15m 11m…
  11. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 11
    Electricity Prices Baseload /MWh Actual Forecast Contracts in place covering: 60 51 53 53 53 52 50 50 44 82% of expected output for 2015 at 40 52/MWh 30 36% of 2016 at 51/MWh 20 Power Response Market Prices 10 STOR…
  12. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 12
    Financial Information Proposed dividend of 0.3p/share; 2013: 0.2p/share increase of 50% Loan Note conversion would increase shares in issue by 12.8m in April 2015 Bank debt Term loan balance of 8.2m repayable, annual repayments of…
  13. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 13
    2014 Step Change in Performance H1 v H2 2014 Output GWh 2014 Generation m 120 10 100 +29% 8 +51% 80 6 60 H2 4 H2 40 H1 H1 2 20 0 0 2014 Adjusted EBITDA m Adjusted PBT m 6 3.0 5 2.5 4 +104% 2.0 +421% 3 1.5 H2 H2…
  14. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 14
    Track Record 14
  15. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 15
    Alkanes Market: UK Electricity Electricity generated by fuel type Overall electricity demand falling Shift from carbon intensive coal to renewables Nuclear output from aged fleet Number of government initiatives risking…
  16. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 16
    Alkanes Market Ofgem forecast margins fall to 2%-4% by 2015/16 De-rated Margins 16% Disconnection probability 14% of 1 in 4, or 1 in 31 with De-rated capacity margin (%) 12% additional interim 10% measures 8% On-going…
  17. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 17
    Closures Planned and Unplanned Didcot Power Station Tinsley Towers, Sheffield Ferrybridge Power Station Heysham 1 Power Station (unplanned shutdown) Ofgem appraisal already out of date 17
  18. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 18
    Alkanes Growing Operations 27 operational sites: 13 CMM only 8 power response only 6 dual fuel The Capacity Mechanism 7 new build sites (Agreement 2018-2033) 7 increased capacity sites (Agreement 2018-2033) 11 existing sites…
  19. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 19
    UK leader in CMM Delivered to date Maltby acquired May 2013, 11 MW installed capacity. Not operational Q2 2014 during pit closure. Now fully operational Completed successful Markham Main drill 3MW site, Yorkshire 2015 and beyond…
  20. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 20
    Power response - Growing share in a growing market Delivered to date 47% increase in revenue to 4.6m Integration of 56MW acquired from Carron Energy & SSE 85MW contracted to National Grids STOR programme 2015 and beyond 65MW…
  21. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 21
    Shale update Egdon Resources selected partner: Long standing UK onshore operator Stronger exploration skills Successful fundraising 14th Round bidding Outcome Alkane 18% holder in Egdon Resources No future cash drain on Alkane…
  22. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 22
    Summary Balanced with CMM baseload and peak power response 2014 M&A activity delivered step change in performance Record weekly productions achieved in February Secured pricing for 2015 and early 2016 25MW long term STOR…
  23. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 23
    Alkane Energy plc Preliminary Results For the 12 months ended 31 December 2014
  24. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 24
    Gas to Power: What we do 100% DBO PR 7% 11% Baseload: 90% 24/7 Baseload 80% PR CMM Generation 29% 70% PR 68% Power Response: 60% Winter Peakload: 50% weekday 4pm-7pm STOR: National Grid 40% Bought in gas 30% Design, build…
  25. 2014 PRELIMINARY RESULTS – Alkane Energy Plc – slide 25
    Financial Comparison of Generating Assets Baseload CMM Power Response Winter peak Running regime Baseload 24/7 STOR utilisation Run time target…

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