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    FKR   IT0003198790


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Presentation of results at 30 September 2021

11/10/2021 | 12:29pm EDT

9M 2021 Results

10 November 2021

Forward-Looking Statements

This presentation contains certain forward-looking statements that reflect the Company's management's current views with respect of future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on Falck Renewables S.p.A.'s current expectations and projections about future events and have been prepared in accordance with IFRS currently in force and the related interpretations as set out in the documents issued to date by IFRIC and SIC, with the exclusion of any new standard which is effective for annual reporting periods beginning after January 1st 2021. Because these forward- looking statements are subject to risks and uncertainties, actual future results or performance may differ materially from those expressed in or implied by these statements due to any number of different factors, many of which are beyond the ability of Falck Renewables S.p.A. to control or estimate precisely, including changes in the regulatory environment, future market developments, fluctuations in the price and availability of fuel and other risks. You are cautioned not to place undue reliance on the forward-looking statements contained herein, which are made only as of the date of this presentation. Falck Renewables S.p.A. does not undertake any obligation to publicly release any updates or revisions to any forward-looking statements to reflect events or circumstances after the date of this presentation. The information contained in this presentation does not purport to be comprehensive and has not been independently verified by any independent third party.

This presentation does not constitute a recommendation regarding the securities of the Company. This presentation is not intended to be/does not contain any offer, under any applicable law, to sell or a solicitation of any offer to buy or subscribe any securities issued by Falck Renewables S.p.A. or any of its subsidiaries.

Neither the Company nor any member of the Company's Group nor any of its or their respective representatives, directors or employees accept any liability whatsoever in connection with this presentation or any of its contents or in relation to any loss arising from its use or from any reliance placed upon it.



9M 2021 Highlights

9M 2021 Results


Toni Volpe

Chief Executive Officer

Business Highlights 9M 2021

Asset development

  • Pipeline: reached ~7.2 GW (> 2x than December 2020)
  • Reached COD at Westmoreland solar (29.6 MW in the US), installed capacity @1,349 MW +13% YoY
  • CAPEX: € 147.5M (vs € 71.3M in 9M 2020) invested in operating assets (+153 MW) and assets under construction (+80 MW in France, Italy, Norway and the US)
  • Floating offshore: started 2 projects in Italy with BlueFloat to develop up to 2.5 GW
  • Exploring opportunities for Scottish communities to own a stake in offshore wind developments
  • Launch of first crowdfunding campaign in Italy to involve local communities
  • Entry in Finland

Owned assets

  • Overall production of 1,963 GWh (-0.7% vs 9M 2020) partially compensated by growth in installed capacity in Sweden, Spain and the
  • Confirmed low winds in the UK and France in 9 months 2021 vs exceptionally high winds recorded in 2020 (total production index: - 13.9% compared with +1.4% in 2020*)
  • 9M Results: Ebitda € 128.6M, Earnings before Taxes Adjusted € 33.3M


  • Energy management: 1,278 GWh dispatched in 9M in Italy and UK
    (+38% vs 9M 2020); of which 759 GWh from FKR and 519 GWh from third-parties
  • Downstream services: increased Ebitda at €
    2.7M (€ +1.9M vs 9M 2020).
  • Completed the acquisition of SAET SpA (revenues from BESS EPC+32% YoY)
  • Vector Renewables: (Ebitda € +0.5M vs 9M 2020). A 350 MW portfolio won in Spain and Portugal

Progress on the pipeline through

Ebitda Guidance improved

Confirmed growth in Services and

technological diversification,

strong recovery of Energy Team

engagement with local communities

* Including reimbursed curtailments

2021: Growing and Consolidating Organic Pipeline

MW under development

at Q3 2021, adjusted (EU+USA)

Asset development

"cash" costs in €m

9M '20

9M '21



≈13 GW


Wind offshore projects in Italy for 2,5 GW (Kailia and Odra Energia); Continued

progress on ScotWind (not included)

2025 Gross Pipeline

Target increased to 20 GW

(from initial 15 GW)

≈ 6 GW

≈ 6 GW


5,6 GW


Includes 55 MW of RtB

2,5 GW

Includes 0,7 GW of


projects in Finland,

storage, both co-


recently acquired

located and stand-alone

3,1 GW

≈7,2 GW

In France, Italy,


4 MW: 2021

Norway and the US

Gross Pipeline



80 MW


Under construction Phase IV Advanced Development (Phase

Mid-Early Stage I-A+I-B

Gross pipeline

Prospects Phase 0

Gross pipeline + Prospects


Projects (organic and M&A) identified for which a decision on whether to start development activities is yet to be taken or under evaluation

Strong 9months on development activity in USA, Italy and Spain


* Project Consented: Permits released by local authorities with conditions ** MW under Novis (joint venture with ENI) and offshore partnership (with BlueFloat) included at 100%, not pro rata

This is an excerpt of the original content. To continue reading it, access the original document here.


Falck Renewables S.p.A. published this content on 10 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2021 17:28:07 UTC.

© Publicnow 2021
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Net income 2022 47,0 M - -
Net Debt 2022 828 M - -
P/E ratio 2022 56,9x
Yield 2022 0,79%
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Managers and Directors
Toni Volpe Chief Executive Officer & Director
Paolo Rundeddu Group CFO & Head-Management Services
Enrico Falck Ottaviano Executive Chairman
Elisabetta Caldera Independent Non-Executive Director
Georgina Grenon Independent Non-Executive Director