HSBC CONFERENCE - LONDON NOVEMBER 2017
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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
INFLEXION POINT IN DEMAND More Electric Vehicles (EV) + More battery power + More strategic initiatives
+32% p.a. 2015-23e (*) = Accelerating demand for Fast Chargers
Secular growth: fast charging infrastructure for EV = top priority for EV consumer adoption
Global political support: France
2 leading the EV charge (Climate Plan)
CONVERGENCE OF POSITIVES Strategic shifts by leading Auto manufacturers (e.g. Volvo moving all electric/hybrid by 2019)
Accelerating momentum Strategic M&A (e.g. Daimler and Siemens’ investments in ChargePoint)
European leader: 55% market share of fast Chargers for EVs **
EUROPEAN MARKET LEADER
2,100 fast charger base, 450 clients, 37 countries
Established presence
Major partnership in Europe with Nissan - #1 producer of electric vehicles in the World
PRODUCT & TECHNOLOGY LEAD New generation QCNG150 ultra-fast charger (>150kWh) launched this summer
New 150kWh fast charger Best in Class in fast chargers: universal chargers (Combo, CHAdeMO, AC), superior reliability
(near 100%), connectivity services and evolutive design – upgrade ready
READY FOR GROWTH Sustained investment in products and production capacity calibrated for >200 stations per month
Investment maintained Wide distribution network in Europe, partnerships with car manufacturers
Profitability boosted by €1m cost optimisation program, new products at higher gross margin,
HEALTHY FINANCIALS
ramp up of revenue in services with €5m expected in 2017/2018
Focus on profitability
Successful re-financing via €5.2m convertible bonds (March 2017 / July 2017),
* Fast charger market (50kWh or more), Navigant Research ** CHAdeMO website sources 2
1
ACCELERATING MARKET MOMENTUM
… for electric vehicles and fast chargers
3
THE ELECTRIC CAR REVOLUTION BOOSTING DEMAND FOR NEW CHARGERS
Soaring electric car sales Higher power vehicles
50-150 kWh charging requirements
>2 million electric cars sold globally in 6 years
+57% EV sales increase in 2016
+31% CAGR of EV sales in Europe 2015-2020
+
** Source : Navigant Research 4
THE ELECTRIC CAR REVOLUTION BOOSTING DEMAND FOR NEW CHARGERS
DIS
Increasing demand for new generation fast chargers
Compatible with the 3 existing charging
Annual sales of charging stations in $m *
standards: Combo, CHAdeMo, AC
$0.9bn
Fast = 20/30 min. charging for +32% +25%
150 km of driving $0.7bn
= CAGR 2014-2023 460
$3.3bn $3.9bn
$70m
$500m
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Normal and semi-quick charge
Quick charge
Source: Navigant Research
5
THE ELECTRIC CAR REVOLUTION: THE INFLEXION POINT IS NOW
Charging infrastructures: a top priority for Auto manufacturers to accelerate
consumer adoption of electric vehicles
• 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
6
2
DBT: A MARKET LEADER
in fast chargers in Europe
7
DBT: A EUROPEAN MARKET LEADER IN QUICK CHARGERS WITH STATE OF THE ART TECHNOLOGY
All 3 Market standards
CHAdeMO 150 kWh power
COMBO CCS
>98% average availability *
AC / ZE Ready * Source: Ecotricity network with DBT chargers (Jul-16 to Mar-17)
#1 >2,100 ≈ 55% 37 2
in Europe quick charging market share for Facilities in 37 Only charger
stations (QC) CHAdeMO stations countries in the market able to
delivered (YE17) In Europe** serve 2 cars at a time
** installed CHAdeMO QCs (CHAdeMO website) 8
DBT IS SPECIALISED IN THE HIGH VALUE SEGMENT OF FAST CHARGERS (DC)
Core Business of DBT
NORMAL CHARGING SEMI-QUICK CHARGING QUICK CHARGING (QC) ULTRA QUICK CHARGING
• Time*: 3-8h • Time*: 1h-3h • Time*: 20-30 min • Time*: 15-20 min
• Power**: 3-7 kW • Power**: 3-22 kW • Power**: 22-50 kW • Power** 50-150 kW
• Price***: €200-€1,000 • Price***: €500-€3,000 • Price***: €15,000-€25,000 • Price***: €35,000-€60,000
Home Office Retail Highways
* Average charging time
** Average power output 9
*** Indicative market price range excluding installation
Source: Navigant Research (quick charging) and DBT (other)
FROM PIONEER TO CLEAR #1 IN EUROPE
Objective:
1990 >10,000 QCs
delivered
DBT founded by 2008 2013 by 2020
Hervé BORGOLTZ "Grenelle de 1st installations of Fast Summer 2017
l’environnement“ Forum chargers in Europe Launch of QCNG150
>15,000 normal and semi-quick >2,100 QC stations delivered *
charging stations delivered**
2012 2017
1992-1994 Manufacturing and sales
Maintenance agreement
1stinstallations of normal with Nissan
agreement with Nissan
charging stations in La
Rochelle and Paris Dec. 2015
2011 IPO on Alternext
€4.5m capital increase
* As of 2016 10>2,100 QC STATIONS INSTALLED AND A SOLID DISTRIBUTION NETWORK
Number of QC stations delivered per country
12 agents in France 10
15 distributors in 18 countries
33 certified installers covering all
key European markets 45
46
8
450 clients references 99
7
1
7
Global annual fast charging station sales ($m) 43 2
324 605 76
300 8 In New Zealand
40 123
1
249 x13 2
34 17 In Israel
437 41
12
19 23 14 In South Africa
2
45
24 34
15 6 In Jordan
215
2014 2023 2014 2023 7
2014 2023 3 In Croatia
1
US Europe Asia 3 In China
11DBT WELL POSITIONED VS. COMPETITION FOR THE ROLL OUT OF NEW CHARGERS
DBT has a 55% market share of installed Limited number of competitors, have announced
DC fast chargers in Europe >50kWh chargers: DBT, ABB, Siemens and Efacec
Market segment with the least players
QC 150kWh
due to high barrier-to-entry from R&D and QC 50kWh
announced
know how.
25%
55%
15%
No Ultra-fast
5% Chargers
announced
Sources: CHAdeMO website
12LEADING ON TECHNOLOGY AND INNOVATION
Higher level of stations availability
Low total-cost of ownership due to upgradable products
=> Added value
for clients Freemium internet platform for clients to manage their stations
Built in payment solution to help client monetise their infrastructure
Evolutivity Connectivity
Software Power
Upgrade capability
Supervision Payment
Easy communication Remote diagnostics solution
Manufacturers update with car (NFC, QR codes…)
High evolutivity –
Power upgrade
capability from
50kWh to 150kW Strength
No option to
change power Average
level once
installed
Weakness
No option to
change power
level once
installed
=> Increasing services and maintenance revenues supported by better connectivity 13CONTINUOUS 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
Month reliability data in %
120,00
100,00
>97%
80,00
60,00
40,00 Month reliability
data in %
20,00
0,00
187 203 207 208 208 211 213 219 220 228 232 238 244 253 265 268 276 281 282 282 285
143
DBT LEADING THE FUTURE
Ready for profitable growth
15STRENGTHENED MARKET POSITIONS WITH THE QCNG150 LAUNCH AND NISSAN CONTRACT
Sustained investment in R&D during the 2016 market transition in order to deliver
new products to the market and stations upgrade solutions
150 kWh ultra fast charger Nissan Maintenance Contract
to be launched early summer 2017
QCNG150 to match
the need of vehicles To upgrade the entire fleet of fast chargers
with 300-400km installed in Europe for Nissan and make it
autonomy ready for new higher power cars such as the
new LEAF model - highest volume EV ever
All 3 standards
sold.
Up to 3 cars at a time
Technical assistance between Nissan and
Evolutivity
DBT for the next 4 years
Connectivity
Nissan is the Global #1 EV manufacturer
16READY FOR THE ACCELERATION OF THE GROWTH IN 2017-2018
PRODUCT PRODUCTION DISTRIBUTION
150 kWh ultra fast charger to Ready for rapid Strong distribution network
be launched summer 2017 production ramp up Largest EU installed base
New products designed to Partnership with Nissan
match the needs of new
EV models with higher 12 agents in France
power requirements 15 distributors in 18 countries
33 certified installers covering
200 QC stations per month all key European markets
vs. 50 in 2014
450 clients references
ISO 9001:2008 certified site
17NEW SOURCES OF REVENUES DRIVEN BY SERVICES
SUPERVISION
EDUCARE AFTER-SALES
SERVICES
Data Monitoring Services
80% of DBT chargers will not Preventive diagnostics
be covered by any type of Ability to remotely address
warranties by year-end 2017 software issues and assist
with on-site repairs
Company launched in
January 2017
800 charger engineers and
installers in Europe to be
trained over the next two
years - AFNOR certification
18NEW SOURCES OF REVENUES DRIVEN BY INNOVATION
SOLAR POWERED INDUCTION
BATTERY BUFFER
CHARGERS CHARGERS
Several projects in
advanced discussions in FastInCharge R&D project Smart energy storage
Middle-East and Africa financed with European system working as a
Program for 300 chargers funds in a 3-year program booster for car charging
in Jordania signed in 2016: co-ordinated by DBT while limiting impact on the
10 successfully operating power grid
32 to be delivered in 2017
19CONTACTS
DBT CEO
Parc Horizon 2000 Hervé Borgoltz
62117 Brebières hborgoltz@dbt.fr
+33 (0)3 21 50 92 92 +33 (0)6 87 75 17 21
www.DBT-bourse.com/fr
Communication
Alexandre Borgoltz
aborgoltz@dbt.fr
+33 (0)6 01 07 24 50
Marlène Maréchal
communication@dbt.fr
+33 (0)3 21 50 92 92
20APPENDIX
21
21STRATEGIC INVESTMENTS FOR ELECTRIC VEHICLES FROM MANUFACTURERS
Tesla Tesla Model Pmodel P Tesla Model 3
Pick-up July 2017
2019 Autonomy of 345 km
Battery > 100 kWh Autopilot
Audi e-tron Sportback Audi e-tron Quattro
2019 2017
503 CV 2 engines ie total power
Max power of 307 kW from 320 kW to 370 kW up to
Theoretical autonomy of 500 km 503 CV
Ultra fast charging with Battery of 95 kWh
CCS standard Autonomy of 500 km
Volkswagen I.D concept Volkswagen I.D Crozz
2020 2020
125 kW electric motor ie 170 CV lithium-ion 83 kWh battery
Autonomy from 400 to 600 km Autonomy of 500 km
I.D Pilot
22STRATEGIC INVESTMENTS FOR ELECTRIC VEHICLES FROM MANUFACTURERS
Volkswagen I.D Buzz Skoda vision E
2022 Double motorisation of 306 CV
Battery 111 kWh Theoretical autonomy of 500KM
Ultra fast charging of 150 kW Induction charger (11 kW)
with CCS standard & ultra fast charging of 150 kW
Autonomy of 600 km with CCS standard
I.D Pilot
Porsche Mission E
Fisker Emotion Before 2020
2018 Double motorisation for 600 CV
Theoretical autonomy of 640 km Theoretical autonomy of 500 km
Revolutionary battery with Ultra fast charging for CCS
Graphene
Bentley EXP 12 Speed 6e
MG E-Motion Theoretical autonomy ≃ 500 km
2020 Potential charge by ultra fast
Theoretical autonomy of 500 km induction
23STRATEGIC INVESTMENTS FOR ELECTRIC VEHICLES FROM MANUFACTURERS
Citroën 5 aircross Nio ES8
2019 2018
≃ 60 km in electric mode 2 electric motors
300 CV of which 200 from the
Gasoline motor
2 electric motors of 80 kW
Lexus LS 500 Lexus UX 250h
2017 2018
140 km in electric mode Crossover
Panamera Turbo S E-Hybrid Ford Mustang Hybride
2017 2020
24A DIVERSIFIED CLIENT BASE
25SET UP OF A FINANCING FACILITY THROUGH CONVERTIBLE DEBT
Convertible Bond (“CB”) subscribed by Nice & Green for Warrants exercisable in the event of change of control
€3m in March and extended to €5.2m in July 2017
Conversion at 10% discount over reference share price Incentivisation program on capital gains related to the
(lowest VWAP of the last 10 days before conversion) sales of shares issued from CBs
Facility covering all financing need beyond a year 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.
Planned issuances over 2017
600 k€ 300 k€ 400 k€ 300 k€ 300 k€
28th March 26th June 23rd August 23 October 20th December
2017
600 k€ 400 k€ 100 k€ 300 k€
4th may 25th July 22nd September 21st November
26SLIGHT DECREASE IN REVENUES IN 2016/17 BUT ATTRACTIVE PERSPECTIV ES
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.
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 27
Audited data in €M and French accounting standardsCONSOLIDATED FINANCIALS: PROFIT AND LOSS ACCOUNT 2016/2017
While revenues decreased, operating losses were
DBT – K Eur 2015/2016 2016/2017
reduced to (3,5) M€ vs previous year
Charging stations and
services
7,177 6,640 Operating losses decreased for «charging stations
Transformers and services 2,833 2,278 and services» with an EBIT of (2,9) M€ through a
Revenues 10,010 8,918 mix of an increase in the gross profit and cost
savings initiatives
Gross profit (1,575) (464)
EBIT (5,938) (3,510)
« Transformers and services » showed an operating
Financial result (235) (111)
loss at (0,6) M€ in line with previous year
Exceptional income (155) (64)
Taxes 29 78 During the technological transition over last months,
Net profit (6,299) (3,607) DBT pursued its R&D program and its strategic
investments – ie 1,4 M€ in Opex & Capex – in order
to increase its market share
28
Audited data in €M and French accounting standardsCONSOLIDATED FINANCIALS: BALANCE SHEET 2016/2017
12,421 12,421
(290): Equity
101: Provisions
Long term assets: 3,048
Intangibles: 2,356
5,625: Financial debt
Inventories: 6,044
5,742: Accounts payables
Accounts receivables: 962
Other receivables: 1,835
1,243: Other debts
Cash and cash equivalents: 533
12,421 Assets Equity and Debt 12,421
Audited data in €M and French accounting standards
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
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