INVESTOR KIT Q2 2022
*All financial data are in Canadian dollars and as at June 30, 2022
For more than 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity. As an independent
renewable power producer that develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that renewable energy will lead the way to a better world.
Innergex operates in Canada, the United States, France and Chile and manages a large portfolio of high-quality assets with an aggregate gross installed capacity of 4,184 MW and an energy storage capacity of 159 MWh. It also holds interests in twelve projects under development and several prospective projects.
Its approach to building shareholder value is to generate sustainable cash flows, provide an attractive risk-adjusted return on invested capital and to distribute a stable dividend.
A SUSTAINABLE BUSINESS MODEL
PEOPLEPLANET
We are passionate people | We believe that renewable |
building strong partnerships | energy is part of the solution |
with local communities. | to climate change. |
PROSPERITY
We generate value for our employees, shareholders, partners and host communities.
KEY FIGURES | DIVIDEND GROWTH ($) | |||||||
84 | $8.4B | $17.30 | CAGR* | |||||
2.1% | ||||||||
operating facilities | total assets value | closing share price | 0.72 | 0.72 | 0.72 | |||
4,184 MW | $3.6B | 680,324 | ||||||
0.70 | ||||||||
gross installed capacity | market capitalization | average daily volume | 0.68 | |||||
(including preferred shares) | traded during Q2 2022 | |||||||
2,992 GWh | $9.8B | 4.2% | 2018 | 2019 | 2020 | 2021 | 2022 | |
generated during Q2 2022 | enterprise value | yield | ||||||
*Compound annual growth rate | ||||||||
STOCK PERFORMANCE | ||||||||
AVERAGE TOTAL RETURN | 5-YEAR | 3-YEAR | ||||||
INE.CN (TSX) | 49.3% | 38.3% | ||||||
S&P/TSX Composite Index | 44.5% | 26.0% |
Source Bloomberg: including reinvestment of dividends. As at June 30, 2022
Published on August 12, 2022
INNERGEX FACILITIES
BEAUMONT 25.0 MW
BOIS DES CHOLLETZ | |||||
11.8 MW | |||||
LONGUEVAL | |||||
10.0 MW | PORCIEN | ||||
10.0 MW | |||||
VALLOTTES | |||||
12.0 MW | |||||
PLAN FLEURY | |||||
AUXY BOIS REGNIER | 22.0 MW | LES RENARDIÈRES | |||
BOIS D'ANCHAT | 29.4 MW | 21.0 MW | |||
10.0 MW | |||||
YONNE | YONNE II | ||||
44.0 MW | |||||
6.9 MW | ROUGEMONT1 | ||||
BROWN LAKE | DOKIE 1 | |||
7.2 MW | ||||
FITZSIMMONS CREEK | 144.0 MW | |||
BOULDER CREEK | 7.5 MW | |||
MILLER CREEK | ||||
25.3 MW | ||||
33.0 MW | ||||
UPPER LILLOOET RIVER | ||||
WALDEN NORTH | ||||
81.4 MW | ||||
EAST TOBA | 16.0 MW | |||
147.0 MW | RUTHERFORD CREEK | CANADA | ||
MONTROSE CREEK | 49.9 MW | |||
88.0 MW | FIRE CREEK | |||
JIMMIE CREEK | 23.0 MW | |||
KWOIEK CREEK | ||||
62.0 MW | ||||
49.9 MW | ||||
ASHLU CREEK | ||||
DOUGLAS CREEK | ||||
49.9 MW | ||||
27.0 MW | ||||
TIPELLA CREEK | ||||
STOKKE CREEK | ||||
18.0 MW | 22.0 MW | |||
NORTHWEST STAVE RIVER | BIG SILVER CREEK |
INNAVIK 7.5 MW
ANTOIGNÉ | TONNERRE | 36.1 MW |
8.0 MW | 9.0 MWh | |
LAZENAY | ROUGEMONT2 | |
9.0 MW | 44.5 MW |
VAITE | |
MONTJEAN | 38.9 MW |
12.0 MW | |
THEILRABIER | |
12.0 MW |
FRANCE
17.5 MW | 40.6 MW | |||
UPPER STAVE RIVER | TRETHEWAY CREEK | |||
BARBERS | 33.0 MW | 21.2 MW | ||
POINT | LAMONT CREEK | |||
15.0 MW | 27.0 MW | |||
KAHANA | HORSESHOE BEND | |||
HAWAII | 20.0 MW | |||
9.0 MW | DESERT MEADOW | |||
23.0 MW | ||||
PAEAHU | MAINLINE | |||
15.0 MW | ||||
23.0 MW | ||||
HALE KUAWEHI | ||||
30.0 MW | RYEGRASS | |||
23.0 MW | ||||
TWO PONDS | ||||
23.0 MW | ||||
HAMMETT HILL | ||||
23.0 MW | COLD SPRINGS | |||
23.0 MW | BOSWELL SPRINGS | |||
329.8 MW | ||||
PAMPA ELVIRA | UNITED STATES |
UMBATA FALLS 23.0 MW
SPARTAN 10.5 MW
GROSMORNE | ||
BAIEDESSABLES | 211.6 MW | |
109.5 MW | MAGPIE | |
SM1 | ||
40.6 MW | ||
30.5 MW | ||
PORTNEUF3 8.0 MW | MONTAGNE SÈCHE | |
58.4 MW | ||
PORTNEUF2 9.9 MW | ||
L'ANSEÀVALLEAU 100.5 MW | ||
PORTNEUF1 8.0 MW | CARLETON 109.5 MW | |
MONTMAGNY | MESGI'G UGJU'S'N 150.0 MW | |
2.1 MW | VIGERDENONVILLE 24.6 MW | |
SAINTPAULIN | CHAUDIÈRE 24.0 MW | |
8.0 MW |
WINDSOR | ||
BATAWA | 5.5 MW | |
STARDALE | ||
5.0 MW | ||
27.0 MW | ||
CURTIS MILLS | ||
GLEN MILLER | 12.0 MW | |
PALMER FALLS | ||
8.0 MW | ||
48.0 MW | ||
IN OPERATION
3,484 / 4,184 MW (net1/ gross capacity)
40 hydro facilities (919 / 1,259 MW)
35 wind farms (1,934 / 2,278 MW)
7 solar farms (612 / 613 MW)
1 solar and energy storage facility
(19 / 34 MW, 150 MWh)
34.0 MW | |
SALVADOR | |
68.0 MW + | |
BATTERY STORAGE | SAN ANDRÉS |
250 MWh | |
SARCO | 50.6 MW + |
BATTERY STORAGE | |
170.0 MW | 175 MWh |
GUAYACÁN 12.0 MW
CUEL | FOARD CITY | ||
MAMPIL | 350.3 MW | ||
33.0 MW | 55.0 MW | ||
RUCACURA | PEUCHEN | GRIFFIN TRAIL | |
85.0 MW | |||
3.0 MW | PHOEBE | 225.6 MW | |
AURORA | FRONTERA | ||
250.0 MW | |||
129.0 MW | 109.0 MW | ||
LICÁN | |||
18.0 MW |
CHILE
KOKOMO | PALOMINO |
200.0 MW | |
6.0 MW | |
HILLCREST 200.0 MW
1 energy storage facility (9 MWh)
84 FACILITIES
1 Net capacity represents the proportional share of the total capacity attributable to Innergex based on its ownership interest in each facility.
UNDER DEVELOPMENT
731 / 768 MW (net / gross)
3 hydro projects (89 / 120 MW)
3 wind projects (362 / 368 MW)
1 solar projects (200 / 200 MW)
4 solar and energy storage projects
(80 / 80 MW, 320 MWh)
2 energy storage projects (425 MWh)
MORE THAN 7,495 GROSS MW
IN PROSPECTIVE PROJECTS
FINANCIAL PERFORMANCE | |||||||||
REVENUES AND REVENUES | ADJUSTED EBITDA PROPORTIONATE1 ($M) | ||||||||
PROPORTIONATE1 ($M) | 673.7 | ||||||||
781.5 | 913.1 | 560.3 | |||||||
698.0 | 516.8 | ||||||||
583.8 | 428.7 | ||||||||
613.2 | 692.2 | 251.5 | 470.7 | 181.1 | |||||
481.4 | 557.0 | 352.2 | 409.2 | 422.1 | |||||
219.7 | 152.9 | ||||||||
2018 | 2019 | 2020 | 2021 | 30-June-22 | 2018 | 2019 | 2020 | 2021 | 30-June-22 |
NET EARNINGS (LOSS) ($M) | CASH FLOWS FROM OPERATING ACTIVITIES ($M) | ||||||
FREE CASH-FLOW1 & PAYOUT RATIO1 | |||||||
25.7 | 2020 | 2021 30-June-2022 | 136% | 121% | 122% | 106% | |
2019 | 96% | ||||||
2018 | -29.1 | 284.4 | 282.6 | 290.4 | 308.4 | ||
-31.2 | -24,6 | 235.4 | |||||
107.0 | 129.4 | 149.0 | |||||
92.5 | 108.1 | ||||||
-185.4 | |||||||
30-Jun-2130-Sept-21 | 31-Dec-2231-Mar-2230-Jun-22 | ||||||
Normalized | Normalized | Normalized |
**Please refer to the ''February 2021 Texas Events'' section of the Management's Discussion and Analysis for the three-month period ended March 31, 2022 for more information.
1 These measures are not recognized measures under IFRS and therefore may not be comparable to those presented by other issuers. Please refer to the ''Non-IFRS Measures'' section of the Management's Discussion and Analysis for the three-month period ended March 31, 2022 for more information.
ACCESS TO CAPITAL
- Innergex partners with tax equity investors for facilities eligible for renewable energy tax incentives in the U.S.
-
Revolving credit facilities supported by
12 unencumbered assets - $149M still available via our revolving credit facilities
BALANCE SHEET
- Power purchase agreements duration of 13.7 years on average, one of the longest in the renewable energy sector
- Young assets with a weighted average age of approximately 9.3 years
- 87.2% of our debt is not exposed to rising interest rates
- More than 79% of our debt is project level
TRADING INFORMATION
ANALYST COVERAGE
SYMBOL (COMMON SHARE) | INE.CN (TSX) |
Index inclusion | S&P/TSX |
Outstanding shares | 204.1M |
Transfer agent | Computershare |
(Canada) | |
Preferred shares | 5.4M |
INE.PR.A | INE.PR.C | |
Convertible Debentures | 148,023 |
INE.DB.B | |
Convertible Debentures | 142,056 |
INE.DB.C | |
BMO Capital Markets
CIBC Capital Markets
Cormark Securities
Credit Suisse
Desjardins Securities
IA Securities
National Bank Financial
Peters & Co Limited
Raymond James
RBC Capital Market
Scotiabank GBM
TD Securities
Ben Pham
Mark Jarvi
Nicholas Boychuk
Andrew M. Kuske
Brent Stadler
Naji Baydoun
Rupert M. Merer
Ken Chmela
David Quezada
Nelson Ng
Justin Strong
Sean Steuart
NEXT DIVIDEND PAYMENT
(Common shares)
PERIOD | RECORD DATE | PAYMENT DATE | AMOUNT |
Q3 2022 | 09/30/2022 | 10/17/2022 | $0.180 |
CONTACT
TRANSFER AGENT - COMPUTERSHARE (CANADA)
T 1-800-564-6253 OR 1 514-982-7555 | TORONTO | MONTREAL |
F 1-888-453-0330 | 100 University Ave., 8th Floor, | 1500 Robert-Bourassa Blvd, |
service@computershare.com | North Tower | suite 700 |
Toronto ON M5J 2Y1 | Montreal QC H3A 3S8 |
INNERGEX HEAD OFFICE
1225 Saint-Charles Street West, 10th floor Longueuil QC J4K 0B9
Tel. : 450 928-2550
REGIONAL OFFICES
Lyon, France | San Diego, U.S.
Vancouver, Canada | Santiago, Chile
investorrelations@innergex.com | innergex.com |
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Disclaimer
Innergex Renewable Energy Inc. published this content on 11 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 22:02:08 UTC.