Published on March 5, 2014
Presentation Verdo, 2013 05-03-2014 www.verdo.dk
Agenda • • • • • • 05-03-2014 Verdo in brief Consolidated accounts Verdo's competences Greener solutions Verdo in a Danish perspective Verdo in Randers
Verdo in brief What is Verdo, our vision, values and accounts 05-03-2014
Verdo is … • a multi-supply company, focusing on development and care. • derived from Latin and means 'green' – and we are one of the greenest energy companies in Denmark. • a provider of electricity, water and heat - plus alarm systems, internet, telephony, energy consultancy, electrical and plumbing installation and fuel trading. • based in Randers – with locations in Hillerød, Viborg and Aarhus. • a producer of biofuels at two factories in Scotland and England respectively. • an employer of around 500 people, with a turnover of approx. DKK 2.6 billion. 05-03-2014
Verdo's corporate structure 05-03-2014
Vision We create green energy 05-03-2014
Strategy 3i13 Focus and consolidation 05-03-2014
Focus and consolidation Profitable organic growth through green energy • Through satisfied customers • Through a stronger sales force and better productivity • Through committed employees Our approach will ensure that we are the greenest and most efficient energy company in 2013! 05-03-2014
Our values We conduct ourselves responsibly! • Respect and trust – We treat each other with respect and trust • Customer focus – We fulfil customer requirements • Efficiency – We are efficient • Courage – We are not afraid to question the way we do things • Loyalty – We are loyal 05-03-2014
What do we want to do? • We want to lower the price of electricity by increasing revenues in other areas. • Keep Verdo profitable and independent. • Ensure Verdo is an attractive employer. • Create new, exciting career opportunities within the company. 05-03-2014
Valued partner for energy Verdo sponsors: Randers FC Viborg HK Hobro IK Nordsjælland Håndbold Værket Concert Hall and Theatre Randers Egnsteater And many other worthy causes. 05-03-2014
Consolidated accounts 2012 05-03-2014
Profit and loss statement – consolidated financial and operating data Amounts in TDKK Total turnover Cost of sales Contribution margin Contribution ratio Budget 13 Actual 12 Actual 11 Actual 10 2,667,534 2,033,389 2,429,995 1,836,660 2,283,435 1,757,543 1,547,767 1,048,523 634,145 593,335 525,892 499,244 23.8% 24.4% 23.0% 32.3% Salaries, wages and pensions 233,977 218,465 205,291 193,677 Other costs 142,421 114,747 82,257 77,716 Total capacity cost 376,398 333,212 287,548 271,393 EBITDA 257,747 260,123 238,344 227,851 141,240 138,696 130,245 120,204 116,507 121,427 108,099 107,647 Total financial items -60,406 60,043 -52,896 -64,240 Pre-tax profit 56,101 61,384 55,203 43,407 Depreciation Operating profit or loss 05-03-2014
Profit and loss statement – turnover distribution Amounts in TDKK Budget 13 Actual 12 Actual 11 Actual 10 Supply 561,593 615,192 582,083 594,285 Contracting 165,726 162,918 133,985 135,695 45,528 44,055 39,139 37,653 Production 184,751 206,666 115,149 136,432 Trading 955,136 668,905 685,013 598,313 Renewables 145,179 79,113 38,998 40,833 Carbon Partners 606,444 646,983 682,547 0 3,178 6,163 6,521 4,556 2,667,534 2,429,995 2,283,435 1,547,767 Telecom Other (Holding company) Total turnover 05-03-2014
Result distribution by division (EBITDA) Verdo group Amounts in TDKK Supply EBITDA Budget 2013 EBITDA Actual 2012 EBITDA Actual 2011 116,262 126,697 118,593 Contracting 20,039 16,304 12,974 Telecom 14,202 13,615 9,023 Production 61,329 91,957 73,644 Trading 62,872 32,499 39,624 0 -36,979 -32,664 22,051 20,024 18,120 -17,802 -3,994 -970 264,704 260,123 238,344 Renewables Carbon Partners Holding Total EBITDA 05-03-2014
Verdo's competences 05-03-2014
Verdo's business areas • • • • • • • • • • • • 05-03-2014 Electricity Water Heat Energy consulting Electrical installation Plumbing installation Alarms & security Telecom Energy – fuel trading Electricity trading Renewables Green energy
Verdo Electricity Network – a grid you can trust • Verdo Electricity Network provides electricity to a total of 54,000 residents in Randers, Hobro and Hillerød, in a manner which protects the environment and saves the consumer money. • That's why focus is - and always will be - on supply security and stable distribution. 05-03-2014
Verdo Water – clean water at a fair price • Verdo Water supplies some of the cleanest drinking water in Denmark to around 46,000 customers in Randers. • Our vision is to supply high quality, cheap drinking water to our customers, whilst ensuring the most stable supply possible. 05-03-2014
Verdo Heating – environment-friendly district heating • Verdo Heating ensures that around 33,000 homes are kept warm all year round. Our vision is to supply district heating at a competitive price, combined with high delivery security and quality. • District heating from Verdo is CO2-neutral, without affecting delivery security or costing individual customers extra. 05-03-2014
Verdo electrical installation - installers you can trust • Verdo performs electrical installation work as specialist, prime and turnkey contractor, for business customers and for the private and public sectors. 05-03-2014
Verdo plumbing installation – one supplier for all requirements • Verdo performs plumbing work for private and business customers. We are there to help with everything from consultancy and installation through modernisation of bathrooms to process plant and service of existing installations. 05-03-2014
Verdo alarm & security – round-the-clock security • Verdo supplies alarm and security solutions, always striving to find the one that fits the customer's needs precisely. • Consequently, we have acquired extensive experience with regard to alarm installations, so that they not only work, but are easy to use. 05-03-2014
Verdo Telecom – fibre: No optical illusion • Verdo Telecom is in the business of providing cheaper, more efficient communications for customers in Randers and Hobro. • Customer satisfaction is given priority, and our vision is to supply fibre optic solutions at a competitive price combined with reliability and high quality. 05-03-2014
Verdo Energy – focusing on biofuel • We are experts in national and international trading with various types of fuels. • We are amongst the best in Europe for trading in different types of biomass such as wood, cocoa pellets and olive stones - some of the most important climate-friendly energy sources of the future. • Verdo Energy believes in strong relationships with customers and suppliers, long-term planning and adaptation to requirements and risk. 05-03-2014
Verdo Renewables – sustainable energy solutions • Verdo is active throughout the value chain for biofuels. • We handle delivery and service, and act as a consultant for sustainable energy solutions. • Verdo Renewables produces wood pellets and briquettes in Scotland and England. We also specialise in the installation of biomass technology in the UK. • Verdo Renewables has the world's most highlyautomated plant for the production wood pellets and briquettes. 05-03-2014
Verdo - high quality biofuel • Our strategy is to fulfil customer needs with competitively-priced, reliable green fuels. • Verdo is already a major factor on the Scandinavian and European biomass markets. • Apart from our own production of biofuels in the UK; we are able to supply significant quantities of wood pellets, briquettes and other high quality biofuels. 05-03-2014
Verdo Energy Consultancy - simply green common sense • We believe that energy optimisation makes healthy, green common sense. There's money to be saved in extra insulation, solar heating and other forms of energy-saving solutions. We believe that energy optimisation is also to the benefit of the environment, and that energy is used as efficiently as possible. 05-03-2014
Verdo Electricity Supply - qualified advice on electricity • Verdo trades, buys and distributes electricity. • Verdo Randers Electricity Supply A/S is owned by Verdo Holding, for the purpose of supplying competitively-priced electricity to all our customers within our supply area around Randers and Hobro. 05-03-2014
Carbon Partners - specialised technical coal • Carbon Partners was founded in 1983, and sells consultancy and raw materials to the metal-processing industry. • Highly skilled personnel working out of offices in Kristiansand, Norway and Knoxville, Tennessee, USA, mean that the company covers the entire world with specialised products. • Customers are major global corporations producing metal alloys. • North American customers are serviced from the Knoxville office, and Kristiansand takes care of the rest of the world. 05-03-2014
Greener solutions Sustainability Production of green electricity Hydrogen, energy source of the future 05-03-2014
Sustainability "Development which meets the needs of current generations without compromising the ability of future generations to meet their own needs". Source: The Brundtland Commission book, "Our Common Future“ 05-03-2014
The sustainability tripartite Ecological Economical Social 05-03-2014
Verdo Green Energy – green solutions always in focus There are many ways to give the climate a helping hand. But there can also be a big difference of opinion as to what is the right or wrong solution. Verdo is an expert in its field, and we are happy to share that expertise to your benefit. 05-03-2014
The entire value chain • From biofuel production to green electricity and district heating 05-03-2014
Combined Heat and Power plant in Randers • Verdo produces and supplies CO2-neutral electricity and district heating. • The CHP plant in Randers was completely refurbished in 2009 to generate heat and electricity burning 100% biomass. • Capacity: – Electricity 50 MW – District heating 140 MW • Annual production: – Electricity 200,000 MWh – District heating 520,000 MWh • The frequency market – a success story. 05-03-2014
Combined Heat and Power plant in Grenaa • Verdo produces and supplies CO2-neutral electricity and district heating. • Verdo took over the Grenaa CHP plant in 2011 • The plant burns coal, straw and other bio-products such as shea and energy pellets. • Capacity: – Electricity 19.6 MW – District heating 45 MW • Annual production: – Electricity 60,0000 MWh – District heating 150,000 MWh – 90,000 MWh process steam. 05-03-2014
Green electricity and district heating • Verdo produces and supplies CO2-neutral electricity. • CO2-neutral electricity is environment-friendly electricity produced by burning biomass. • The district heating produced by Verdo in Randers is green. 05-03-2014
Verdo - green leader • Verdo believes in green energy produced from carbonneutral fuels. The best way to prove that is to invest in biomass production and conversion. • We engage in green solutions, and biofuels are the epitome of being environment-friendly. • Our objective is to supply green energy by using environment-friendly, bio-based fuels. 05-03-2014
Verdo - fuel utilisation 2008-2010 2008 REA 2009 REA 2010 PROG 12% 28% 40% 40% 60% 32% 37% 51% Bio dry Coal 2010 Lorryloads Shiploads Bio - chips 6,500 70 Bio - dry 2,718 25 Coal 538 5 Total 05-03-2014 1 5 3 2 1 7 Bio chips % 9,756 lorryloads 100 shiploads
CO2 emissions/allocation - KVR 05-03-2014
Verdo Hydrogen • Verdo's hydrogen plant is located in Hobro. • Hydrogen is one of the energy sources of the future for cars, emergency generators etc. • Production is via electrolysis. • It can also be used for storing excess energy from wind turbines. • The by-product is 99.9% pure oxygen, which has many uses in the food industry, hospitals and industry at large. • Verdo hopes that it can also be used in time to aerate stagnant water areas, such as Mariager Fjord. 05-03-2014
Verdo ... in a Danish perspective 05-03-2014
Public demand • Denmark has a hill to climb. • The EU adopted the Directive on Renewable Energy* in 2009. That means that 30% of energy used for electricity, heating and transport has to come from renewable sources, such as wind, solar, geothermal, biomass, bioethanol and biogas for the year 2020. • Denmark has committed to reaching this ambitious target and currently generates 23% of its energy needs from renewable sources. 05-03-2014
Verdo in DK - focus on the climate • Verdo has taken up the challenge, and reduced its CO2 emissions significantly. • Meanwhile, we are working on solutions to allow others to give the climate a helping hand. • We are experts in a wide range of energy fields, which means we can help private customers, businesses and public institutions to upgrade their energy sources to the benefit of the climate - often with savings gained as a result. 05-03-2014
Focus on the climate - is not enough! • We give the consumer's needs top priority when devising yet more new, alternative energy-saving products. • That's why we are also able to provide quality solutions which are climate-friendly at the most competitive prices. • We believe that is the right way to go, and we call it 'profitable green growth'. 05-03-2014
Verdo in Randers 05-03-2014
One of the town's biggest businesses - which carries a responsibility • Verdo is one of the biggest businesses in Randers. • That implies that we are also responsible for the community we are a part of. • We play an active role in promoting growth in the town - especially for businesses. • We are also a major supporter of local sport and culture. 05-03-2014
Verdo in Randers - yet more green energy • Verdo's CHP plant in Randers is CO2 neutral. The conversion from coal to biofuel took us through a learning curve and required extensive reorganisation and structural changes, making it a long process. • On the other hand, Verdo obtained a lot of knowledge on burning biomass. The plant is now much more flexible with regard to the way it operates and choice of fuels. • Biomass has been the primary fuel since conversion in 2012. 05-03-2014
Verdo - fuel types • Wood is only one of the fuel types the plant in Randers uses a lot of. Other types include cocoa, coconut, soy and coffee husks, seeds (roe, rapeseed and grass), olive stones, sunflower seeds, bio-pellets according to DN standard, sawdust and wood chips, (straw). • We currently produce so much green energy that we sell the surplus - including to other power generators. That's something we are proud of. • But we also know we have to ensure that we can continue to deliver heat to our customers at competitive prices, which is why we are in a state of constant development. 05-03-2014
Fuel composition - KRV 2,500,000 2,000,000 1,500,000 GJ 2012 2011 2010 1,000,000 2009 500,000 0 2009 2010 Flis Tilsats 2011 Kul Lossepladsgas 05-03-2014 2012
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