ORMAT TECHNOLOGIES, INC. 2024 ORMAT INVESTOR &
ANALYST DAY
POWERING A CARBON-FREE FUTURE WITH PREMIUM RENEWABLE SOLUTIONS
ORMAT 2024 INVESTOR & ANALYST DAY
SAFE HARBOR STATEMENT AND NON-GAAP METRICS
THIS PRESENTATION INCLUDES FORWARD-LOOKING STATEMENTS, AND THE DISCLAIMER SHOULD BE READ CAREFULLY
FORWARD-LOOKING STATEMENTS
This presentation, and information provided during any discussion accompanying this presentation, may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve estimates, expectations, projections, goals, objectives, assumptions and risks, and activities, events and developments that may or will occur in the future. When used in or during the course of this presentation, the words "may", "will", "could", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "projects", "thinks", "forecasts", "guidance", "continue", "goal", "outlook", "potential," "prospect" or "target", or the negative of these terms or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain such words or expressions. Such forward-looking statements include, but are not limited to: statements about Ormat Technologies, Inc.'s and its affiliates' ("Ormat") business strategy; statements about Ormat's competitive strengths; statements about Ormat's development and operation of electricity generation, storage and energy management assets, including distributed energy resources; statements about Ormat's other plans, expectations, objectives and targets; statements about Ormat's views on market and industry developments and economic conditions, and the growth of the markets in which Ormat conducts its business; and statements about the growth and diversification of Ormat's customer base and Ormat's future revenues, expenses, earnings, capital expenditures, regional market penetration, ability to capitalize on increased demand, electricity generation, and other operational performance metrics, including statements about "target" or "targeted" amounts for 2028 growth (MW) and 2026 operational performance metrics such as growth (MW), adjusted EBITDA, portfolio growth and potential and planned capacity (MW), and statement regarding Ormat's ESG plans, initiatives, projections, goals, commitments, expectations or prospects, among others.
All of these and other forward-looking statements made in or during the course of this presentation are made only as of the date hereof and Ormat undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. Forward-looking statements about "target" or "targeted" amounts represent current goals of Ormat's management and are neither estimates of Ormat's actual results nor financial projections or forecasts that have been prepared in accordance with Securities and Exchange Commission ("SEC") rules or guidelines adopted by the American Institute of Certified Public Accountants.
These forward-looking statements are not intended to be a guarantee of future results, but instead constitute Ormat's current expectations based on assumptions that Ormat currently believes are reasonable. You are cautioned not to place undue reliance on the expectations, projections and other forward-looking statements made in or during the course of this presentation as actual future results and developments may differ materially from such expectations, projections and forward-looking statements due to a number of risks, uncertainties and other factors, many of which are beyond Ormat's control.
These risks, uncertainties and other factors include, but are not limited to, the risks, uncertainties and other factors described in Ormat Technologies, Inc.'s Form 10-K filed with the SEC on February 23, 2024, and from time to time, in Ormat's quarterly reports on Form 10-Q that are filed with the SEC.
NON-GAAP METRICS
RECONCILIATION TO US GAAP FINANCIAL INFORMATION
This presentation includes certain "non-GAAP financial measures" within the meaning of Regulation G under the Securities Exchange Act of 1934, as amended, including EBITDA and Adjusted EBITDA. The presentation of these non-GAAP financial measures is not intended as a substitute for financial information prepared and presented in accordance with GAAP and such non-GAAP financial measures should not be considered as a measure of liquidity or as an alternative to cash flow from operating activities, net income or any other measures of performance prepared and presented in accordance with GAAP. Such non-GAAP financial measures may be different from non-GAAP financial measures used by other companies.
The appendix slides in this presentation reconcile the non-GAAP financial measures included in the presentation to the most directly comparable financial measures prepared and presented in accordance with U.S. GAAP. The Company is unable to provide a reconciliation for its Adjusted EBITDA projections range to net income without unreasonable efforts due to high variability and complexity with respect to estimating certain forward-looking amounts. These include impairments and disposition and acquisition of business interests, income tax expense, and other non-cash expenses and adjusting items that are excluded from the calculation of Adjusted EBITDA.
Copyright © 2024 Ormat Technologies, Inc. All Rights Reserved. This document contains information proprietary to Ormat Technologies, Inc. Reproduction in any form without prior written permission is strictly prohibited
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TODAY'S AGENDA
09:00 | Doron Blachar, CEO |
Powering a Carbon-Free Future | |
with Premium Renewable Solutions | |
Introduction | |
Market Insights: Navigating Trends | |
and Opportunities | |
09:15 | Doron Blachar, CEO |
Accelerating Growth: Expanding | |
Our Electricity Segment | |
Paul Thomsen, VP Business Development | |
Streamlining Permits to Accelerate | |
Ormat Geothermal Growth in the US | |
10:00 | Ofer Ben Yosef, EVP Energy Storage & |
Business Development |
Transforming Energy Storage into a Higher Growth Business Segment
10:30 | Q&A and Break |
10:45 | Doron Blachar |
Driving Internal and External | |
Innovation | |
11:00 | Assi Ginzburg, CFO |
Maintaining Our Market Leadership in | |
the Product Segments | |
11:15 | Assi Ginzburg, CFO |
Financial Resilience and Strong | |
Balance Sheet Powering Our Growth | |
11:30 | Doron Blachar, CEO |
Key Takeaways and Q&A | |
12:00 | Lunch |
COPYRIGHT © 2024 ORMAT TECHNOLOGIES, INC.
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WITH US TODAY:
SPEAKERS | MANAGEMENT PARTICIPANTS |
DORON BLACHAR | ASSI GINZBURG | OFER BENYOSEF | JESSICA WOELFEL | SHIMON HATZIR | LIZA TAVORI |
CEO | CFO | EVP ENERGY STORAGE | GENERAL COUNSEL & CCO | EVP ELECTRICITY SEGMENT | EVP HR |
& BUSINESS DEVELOPMENT |
PAUL THOMSEN | SMADAR LAVI | ELAD ZALKIN | NIRIT GRUSHKO |
VP BUSINESS DEVELOPMENT | VP, HEAD OF IR | SVP PROJECTS | SVP ENGINEERING |
& ESG PLANNING | |
AND REPORTING | COPYRIGHT © 2024 ORMAT TECHNOLOGIES, INC. |
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POWERING A CARBON-FREE FUTURE WITH PREMIUM RENEWABLE SOLUTIONS
DORON BLACHAR, CEO
COPYRIGHT © 2024 ORMAT TECHNOLOGIES, INC.
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COPYRIGHT © 2024 ORMAT TECHNOLOGIES, INC.
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A LEADING RENEWABLE
ENERGY PROVIDER
WITH A PROVEN TRACK RECORD
Close to | Own & operate | |
60 | ~1.4GW | 1,600 |
Years of | Geothermal, Storage, | Employees |
experience | Solar PV & REG1 |
$829M | $482M | $124M |
2023 revenues | 2023 adj. EBITDA2 | 2023 Net income3 |
- REG - Recovered Energy Generation
- See appendix for reconciliation of non-GAAP financial measures.
(3) Net income attributable to the company stockholders | COPYRIGHT © 2024 ORMAT TECHNOLOGIES, INC. |
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BUSINESS SEGMENTS
80% | 16% | 4% |
of 2023 | of 2023 | of 2023 |
revenues | revenues | revenues |
ELECTRICITY | PRODUCT | ENERGY STORAGE |
COPYRIGHT © 2024 ORMAT TECHNOLOGIES, INC.
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ORMAT IS WELL-POSITIONED IN THE VALUE CHAIN
FOR BOTH GEOTHERMAL ENERGY AND ENERGY STORAGE
Exploration | Development | Engineering | Manufacturing | Construction | Operation |
(Geothermal) | (Geothermal) | ||||
System Integration | |||||
(Storage) | |||||
60 | 25 | Robust | |||
Years | Years | BD | |||
EPC | operational | ||||
experience | experience | capabilities |
COPYRIGHT © 2024 ORMAT TECHNOLOGIES, INC.
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Ormat Technologies Inc. published this content on 21 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 June 2024 02:42:06 UTC.
