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EUROPEAN LEADER IN FAST CHARGERS
FOR ELECTRIC VEHICLES
HSBC CONFERENCE - LONDON NOVEMBER 2017
DBT, THE ONLY LISTED PURE PLAY ON THE HIGH GROWTH EV SECTOR
READY FOR GROWTHInvestment maintained
Sustained investment in products and production capacity calibrated for >200 stations per month Wide distribution network in Europe, partnerships with car manufacturers
Profitability boosted by €1m cost optimisation program, new products at higher gross margin, ramp up of revenue in services with €5m expected in 2017/2018
Successful re-financing via €5.2m convertible bonds (March 2017 / July 2017),
European leader: 55% market share of fast Chargers for EVs ** 2,100 fast charger base, 450 clients, 37 countries Major partnership in Europe with Nissan - #1 producer of electric vehicles in the World
EUROPEAN MARKET LEADEREstablished presence
PRODUCT & TECHNOLOGY LEADNew 150kWh fast charger
New generation QCNG150 ultra-fast charger (>150kWh) launched this summer
Best in Class in fast chargers: universal chargers (Combo, CHAdeMO, AC), superior reliability(near 100%), connectivity services and evolutive design – upgrade ready
HEALTHY FINANCIALSFocus on profitability
* Fast charger market (50kWh or more), Navigant Research 2** CHAdeMO website sources
2
INFLEXION POINT IN DEMAND+32% p.a. 2015-23e (*)
More Electric Vehicles (EV) + More battery power + More strategic initiatives= Accelerating demand for Fast Chargers
Secular growth: fast charging infrastructure for EV = top priority for EV consumer adoption
Global political support: France leading the EV charge (Climate Plan) Strategic shifts by leading Auto manufacturers (e.g. Volvo moving all electric/hybrid by 2019) Strategic M&A (e.g. Daimler and Siemens’ investments in ChargePoint)
CONVERGENCE OF POSITIVESAccelerating momentum
ACCELERATING MARKET MOMENTUM
1
… for electric vehicles and fast chargers
3
THE ELECTRIC CAR REVOLUTION BOOSTING DEMAND FOR NEW CHARGERS
>2 million electric cars sold globally in 6 years
+57% EV sales increase in 2016
+31% CAGR of EV sales in Europe 2015-2020
Soaring electric car sales
+
Higher power vehicles
50-150 kWh charging requirements
** Source : Navigant Research 4
Compatible with the 3 existing charging
standards: Combo, CHAdeMo, AC
Increasing demand for new generation fast chargers
=Fast = 20/30 min. charging for
150 km of driving
460
THE ELECTRIC CAR REVOLUTION BOOSTING DEMAND FOR NEW CHARGERS
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Annual sales of charging stations in $m *
Normal and semi-quick charge
Quick charge
$0.9bn
$3.9bn$3.3bn
$0.7bn
$70m
$500m
CAGR 2014-2023
+32% +25%
Source: Navigant Research5
DISCUSS WITH FRED
THE ELECTRIC CAR REVOLUTION: THE INFLEXION POINT IS NOW
Charging infrastructures: a top priority for Auto manufacturers to accelerate
consumer adoption of electric vehicles
6
• Charger market reaccelerating after a transitional year 2016 when operators waited for the launch of new generation chargers (>150kWh)• US operator ChargePoint raised US$82m in March 2017 from Daimler, BMW I Venture and US$43m
from Siemens in June 2017, etc…• All European oil majors planning to build ultra-fast chargers at petrol stations
Numerous governments initiatives in Europe and the US to promote EV adoptions
• Announcement by French environmental minister on a ban of the sale of petrol cars by 2040.• 16,800 public chargers in France, of whom 800 are fast chargers• One third of all cars sold in Norway are electric thanks to heavy tax incentives
Acceleration of initiatives by auto industry
• Volvo will only launch 100% electric or hybrid cars by 2019• Tesla is launching this month their first mass market vehicles - Model 3• The 30 major manufacturers recently announced the release of c 50 new models for 2020/22
DBT: A MARKET LEADER
2
in fast chargers in Europe
7
DBT: A EUROPEAN MARKET LEADER IN QUICK CHARGERS WITH STATE OF THE ART TECHNOLOGY
150 kWh power
quick charging
stations (QC)
delivered (YE17)
Facilities in 37
countries
market share for
CHAdeMO stations
In Europe**
All 3 Market standards
COMBO CCS
AC / ZE Ready
CHAdeMO
** installed CHAdeMO QCs (CHAdeMO website)
>98% average availability *
in Europe
#1 >2,100 ≈ 55% 37
Only charger
in the market able to
serve 2 cars at a time
2
* Source: Ecotricity network with DBT chargers (Jul-16 to Mar-17)
8
• Time*: 3-8h
• Power**: 3-7 kW
• Price***: €200-€1,000
NORMAL CHARGING
• Time*: 1h-3h
• Power**: 3-22 kW
• Price***: €500-€3,000
• Time*: 20-30 min
• Power**: 22-50 kW
• Price***: €15,000-€25,000
Home Office
SEMI-QUICK CHARGING QUICK CHARGING (QC)
• Time*: 15-20 min
• Power** 50-150 kW
• Price***: €35,000-€60,000
ULTRA QUICK CHARGING
Retail Highways
Core Business of DBT
* Average charging time
** Average power output
*** Indicative market price range excluding installation
Source: Navigant Research (quick charging) and DBT (other)
DBT IS SPECIALISED IN THE HIGH VALUE SEGMENT OF FAST CHARGERS (DC)
9
Objective:
>10,000 QCs delivered
by 2020
FROM PIONEER TO CLEAR #1 IN EUROPE
1990DBT founded by
Hervé BORGOLTZ
1992-19941st installations of normal
charging stations in La
Rochelle and Paris
2008"Grenelle de
l’environnement“ Forum
2011€4.5m capital increase
Summer 2017Launch of QCNG150
>15,000 normal and semi-quick
charging stations delivered**
>2,100 QC stations delivered *
* As of 2016 10
2012Manufacturing and sales
agreement with Nissan
2017Maintenance agreement
with Nissan
Dec. 2015IPO on Alternext
20131st installations of Fast
chargers in Europe
437
605
43
10
215
45
19
123
2
40
7
99
4546
8
34
7
1
2
8
41
2312
2
1
Number of QC stations delivered per country
7
12 agents in France
15 distributors in 18 countries
33 certified installers covering all
key European markets
450 clients references
2014 2023
24
324
x13
2014 2023
34
300
2014 2023
15
249
US Europe Asia
Global annual fast charging station sales ($m)
>2,100 QC STATIONS INSTALLED AND A SOLID DISTRIBUTION NETWORK
In New Zealand
In Israel
In South Africa
In Jordan
In Croatia
In China
1
17
14
6
3
76
3
11
DBT WELL POSITIONED VS. COMPETITION FOR THE ROLL OUT OF NEW CHARGERS
DBT has a 55% market share of installed DC fast chargers in Europe
Market segment with the least players due to high barrier-to-entry from R&D and know how.
55%
5%
15%
25%
Sources: CHAdeMO website
12
Limited number of competitors, have announced >50kWh chargers: DBT, ABB, Siemens and Efacec
No Ultra-fast
Chargers
announced
QC 50kWhQC 150kWhannounced
Evolutivity
Manufacturers
SoftwareEasy communication
update with car
PowerUpgrade capability
Supervision Remote diagnostics
Payment
solution(NFC, QR codes…)
High evolutivity –
Power upgrade
capability from
50kWh to 150kW
No option to
change power
level once
installed
No option to
change power
level once
installed
Connectivity
Added value for clients
Strength
Average
Weakness
LEADING ON TECHNOLOGY AND INNOVATION
Higher level of stations availability Low total-cost of ownership due to upgradable products Freemium internet platform for clients to manage their stations Built in payment solution to help client monetise their infrastructure
=> Increasing services and maintenance revenues supported by better connectivity13
=>
CONTINUOUS INCREASE IN CHARGER RELIABILITY - BEST-IN-CLASS
Stations availability has structurally increased over the past 2 years to best-in-class levels Operating experience from the largest installed charger base in Europe becoming a strong competitive advantage EV manufacturers and clients such as retailers very keen on developing highly reliable fast charging stations
Ecotricity UK Network, 285 DBT Fast chargers, monthly reliability data
187 203 207 208 208 211 213 219 220 228 232 238 244 253 265 268 276 281 282 282 28514
>97%
0,00
20,00
40,00
60,00
80,00
100,00
120,00
Month reliability data in %
Month reliabilitydata in %
DBT LEADING THE FUTURE
3
15
Ready for profitable growth
STRENGTHENED MARKET POSITIONS WITH THE QCNG150 LAUNCH AND NISSAN CONTRACT
16
150 kWh ultra fast chargerto be launched early summer 2017
Nissan Maintenance Contract
Sustained investment in R&D during the 2016 market transition in order to deliver
new products to the market and stations upgrade solutions
All 3 standardsUp to 3 cars at a timeEvolutivityConnectivity
QCNG150 to match the need of vehicles with 300-400km autonomy
To upgrade the entire fleet of fast chargers installed in Europe for Nissan and make it ready for new higher power cars such as the new LEAF model - highest volume EV ever sold. Technical assistance between Nissan and DBT for the next 4 years
Nissan is the Global #1 EV manufacturer
READY FOR THE ACCELERATION OF THE GROWTH IN 2017-2018
Ready for rapid
production ramp up
150 kWh ultra fast charger to
be launched summer 2017Strong distribution network
Largest EU installed base
Partnership with Nissan
PRODUCT PRODUCTION DISTRIBUTION
New products designed to match the needs of new EV models with higher power requirements
ISO 9001:2008 certified site
200 QC stations per month
vs. 50 in 2014
17
12 agents in France15 distributors in 18 countries33 certified installers covering all key European markets450 clients references
NEW SOURCES OF REVENUES DRIVEN BY SERVICES
EDUCARE AFTER-SALESSUPERVISION
SERVICES
Company launched in January 2017800 charger engineers and installers in Europe to be trained over the next two years - AFNOR certification
18
Data Monitoring ServicesPreventive diagnosticsAbility to remotely address software issues and assist with on-site repairs
80% of DBT chargers will not be covered by any type of warranties by year-end 2017
NEW SOURCES OF REVENUES DRIVEN BY INNOVATION
SOLAR POWERED
CHARGERS
INDUCTION
CHARGERSBATTERY BUFFER
Several projects in advanced discussions in Middle-East and AfricaProgram for 300 chargers in Jordania signed in 2016:10 successfully operating32 to be delivered in 2017
19
FastInCharge R&D project financed with European funds in a 3-year program co-ordinated by DBT
Smart energy storage system working as a booster for car charging while limiting impact on the power grid
DBT
Parc Horizon 2000
62117 Brebières
+33 (0)3 21 50 92 92
www.DBT-bourse.com/fr
CEO
Hervé Borgoltz
+33 (0)6 87 75 17 21
Communication
Alexandre Borgoltz
+33 (0)6 01 07 24 50
Marlène Maréchal
+33 (0)3 21 50 92 92
CONTACTS
20
21
APPENDIX
21
Tesla Tesla Model Pmodel PPick-up2019Battery > 100 kWh
Tesla Model 3July 2017Autonomy of 345 km Autopilot
Audi e-tron Sportback2019503 CVMax power of 307 kWTheoretical autonomy of 500 kmUltra fast charging withCCS standard
Audi e-tron Quattro20172 engines ie total powerfrom 320 kW to 370 kW up to503 CVBattery of 95 kWhAutonomy of 500 km
Volkswagen I.D concept2020 125 kW electric motor ie 170 CVAutonomy from 400 to 600 kmI.D Pilot
Volkswagen I.D Crozz2020lithium-ion 83 kWh battery Autonomy of 500 km
STRATEGIC INVESTMENTS FOR ELECTRIC VEHICLES FROM MANUFACTURERS
22
Volkswagen I.D Buzz2022Battery 111 kWhUltra fast charging of 150 kWwith CCS standardAutonomy of 600 kmI.D Pilot
Skoda vision EDouble motorisation of 306 CVTheoretical autonomy of 500KMInduction charger (11 kW) & ultra fast charging of 150 kWwith CCS standard
Fisker Emotion2018Theoretical autonomy of 640 kmRevolutionary battery withGraphene
Porsche Mission EBefore 2020Double motorisation for 600 CVTheoretical autonomy of 500 kmUltra fast charging for CCS
MG E-Motion2020Theoretical autonomy of 500 km
Bentley EXP 12 Speed 6eTheoretical autonomy ≃ 500 kmPotential charge by ultra fast induction
STRATEGIC INVESTMENTS FOR ELECTRIC VEHICLES FROM MANUFACTURERS
23
Citroën 5 aircross2019≃ 60 km in electric mode300 CV of which 200 from the Gasoline motor 2 electric motors of 80 kW
Nio ES820182 electric motors
Lexus LS 5002017140 km in electric mode
Lexus UX 250h2018Crossover
Panamera Turbo S E-Hybrid2017
Ford Mustang Hybride2020
STRATEGIC INVESTMENTS FOR ELECTRIC VEHICLES FROM MANUFACTURERS
24
A DIVERSIFIED CLIENT BASE
25
SET UP OF A FINANCING FACILITY THROUGH CONVERTIBLE DEBT
600 k€
4th may
300 k€
21st November
300 k€
20th December
600 k€
28th March
2017400 k€
25th July
400 k€
23rd August
100 k€
22nd September
300 k€
23 October
Planned issuances over 2017
Convertible Bond (“CB”) subscribed by Nice & Green for €3m in March and extended to €5.2m in July 2017
Conversion at 10% discount over reference share price (lowest VWAP of the last 10 days before conversion)
Facility covering all financing need beyond a year
Warrants exercisable in the event of change of control
Incentivisation program on capital gains related to the sales of shares issued from CBs
300 k€
26th June
26
The amount of the original tranches planned is not amended but is supplemented with more flexibility upwards or downwards based on its working capital requirements.
27
Consolidated revenues 2016-2017 : 9 M€
DBT CEV, that focuses on the charging business (including services) showed sales of €6.6M. It
includes charging stations, that was up 11% while services activity was down 60% due to a temporary
delay for the signing of a new contract with Nissan (signed on July, 5 2017).
Expected decrease in revenues from transformers partly offset by the growth from power distribution
and access control stations.
SLIGHT DECREASE IN REVENUES IN 2016/17 BUT ATTRACTIVE PERSPECTIV ES
K Eur 2015-2016 2016-2017 Change
DBT-CEV 7,177 6,640 -7%
Charging stations 5,3 5,9 +11%
Services 1,9 0,8 - 60%
DBT Ingénierie 2,833 2,278 -20%
Power distribution and access control stations 0,7 0,8 +8%
Transformers 2,1 1,5 -30%
TOTAL 10,010 8,918 -11%
€5m revenues expected from services for 2017/2018
• Several contracts being negotiated in Europe
• Maintenance contract with Nissan shall generate recurring revenues in the next 18 months
Audited data in €M and French accounting standards
CONSOLIDATED FINANCIALS: PROFIT AND LOSS ACCOUNT 2016/2017
While revenues decreased, operating losses were
reduced to (3,5) M€ vs previous year
Operating losses decreased for «charging stations
and services» with an EBIT of (2,9) M€ through a
mix of an increase in the gross profit and cost
savings initiatives
« Transformers and services » showed an operating
loss at (0,6) M€ in line with previous year
During the technological transition over last months,
DBT pursued its R&D program and its strategic
investments – ie 1,4 M€ in Opex & Capex – in order
to increase its market share
DBT – K Eur 2015/2016 2016/2017
Charging stations and
services7,177 6,640
Transformers and services 2,833 2,278
Revenues 10,010 8,918
Gross profit (1,575) (464)
EBIT (5,938) (3,510)
Financial result (235) (111)
Exceptional income (155) (64)
Taxes 29 78
Net profit (6,299) (3,607)
28Audited data in €M and French accounting standards
CONSOLIDATED FINANCIALS: BALANCE SHEET 2016/2017
Assets Equity and Debt
Long term assets: 3,048
Inventories: 6,044
Intangibles: 2,356
Accounts receivables: 962
Other receivables: 1,835
Cash and cash equivalents: 533
12,421
12,421
12,421
12,421
(290): Equity
5,742: Accounts payables
1,243: Other debts
5,625: Financial debt
101: Provisions
29
Signature in July 2017 of a modification of the terms of the initial convertible bond financing agreement with Nice and Green for a total amount of
€5.2 million until June 30, 2018, which gives a strong visibility for the medium-term
Audited data in €M and French accounting standards