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    INE   CA45790B1040

INNERGEX RENEWABLE ENERGY INC.

(INE)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-10-07 pm EDT
16.00 CAD   -4.88%
11:45aNational Bank Expects Tailwinds for Renewable Power Infrastructure from Accelerating Growth, Recession Resistance
MT
10/04Innergex Brief: Says Completed Its Acquisition of the Remaining Interests In Its Wind Portfolio In France
MT
10/04Innergex completes its acquisition of the remaining interests in its wind portfolio in france
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Innergex Renewable Energy : Investor Kit – Q2 2022

08/12/2022 | 06:03pm EDT

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

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.


© Publicnow 2022
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Analyst Recommendations on INNERGEX RENEWABLE ENERGY INC.
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Financials
Sales 2022 905 M 661 M 661 M
Net income 2022 -26,5 M -19,4 M -19,4 M
Net Debt 2022 5 219 M 3 814 M 3 814 M
P/E ratio 2022 -140x
Yield 2022 4,28%
Capitalization 3 433 M 2 509 M 2 509 M
EV / Sales 2022 9,56x
EV / Sales 2023 8,86x
Nbr of Employees 488
Free-Float 74,5%
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Technical analysis trends INNERGEX RENEWABLE ENERGY INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 16,82 CAD
Average target price 22,13 CAD
Spread / Average Target 31,5%
EPS Revisions
Managers and Directors
Michel Letellier Vice President-Finance
Jean Trudel Chief Financial Officer
Daniel L. Lafrance Chairman
Robert Guillemette VP-Health, Safety & Technological Innovation
Dalton James Patrick McGuinty Independent Director