Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Q4 2021 Earnings Conference Call February 28, 2022 4:15 PM ET Company Participants Santiago Seage - Chief Executive Officer Francisco Martinez-Davis - Chief Financial Officer Conference Call Participants David Quezada - Raymond James Colton Bean - Tudor, Pickering Julien Dumoulin-Smith - Bank of America Mark Jarvi - CIBC Gonzalo de Cueto - BNP Exane Angie Storozynski - Seaport William Grippin - UBS Operator Welcome to Atlantica’s Full Year 2021 Financial ...

Financial Data and Key Metrics Changes - The company reported revenue of $140.4 million for the first nine months of 2021, representing an 8.4% growth on a comparable basis, excluding foreign exchange and non-recurring impacts [6] - Adjusted EBITDA increased by 2.1% to $634.1 million, with cash available for distribution reaching $168.5 million, a 12.9% year-over-year increase [6][9] - CAFD per share stood at $1.52 year-to-date, reflecting a growth of 3.6% year-over-year [6] Business Line Data and Key Metrics Changes - In North America, revenue increased by 15% to $308.7 million, while EBITDA rose by 2% due to recently acquired assets [7] - South America saw revenue and EBITDA growth of 5% and 1% respectively, attributed to recent investments [7] - EMEA region's EBITDA increased by 2% compared to the first nine months of 2020, driven by new assets and foreign exchange differences [7] Market Data and Key Metrics Changes - Electricity produced by renewable assets reached 3,460 gigawatt hours, a 33% increase compared to the same period in 2020, largely due to contributions from recently acquired assets [8] - Production in South Africa and Spain benefited from higher solar radiation, while lower-than-expected solar and wind resources were noted in the U.S. and other regions [8] Company Strategy and Development Direction - The company has made significant progress in its growth investment plan, with over $460 million invested year-to-date, exceeding the guidance of $300 million [10] - Future growth opportunities are focused on North America, South America, and certain areas in Europe, with a strategy that includes co-investment with third parties [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the impact of the U.S. infrastructure bill on finding acquisition targets and facilitating larger investments [13] - The company is aware of inflationary pressures and supply chain issues but believes the impact on its cash flow will be limited due to its business model [23] Other Important Information - The company has received recognition for its commitment to sustainability, including the Terra Carta Seal and approval of its emissions targets by the Science Based Targets initiative [4][5] Q&A Session Summary Question: Impact of the U.S. infrastructure bill on acquisition targets - Management believes the infrastructure bill will positively impact the sector and assist in finding acquisition targets [13] Question: Potential expansion of existing sites and new technologies - Management sees opportunities for investment in existing plants and hybrid technologies, including storage and hydrogen [15] Question: Concerns about battery component replacement cycles - Management acknowledged uncertainty regarding battery maintenance capex but remains a prudent investor [17] Question: Growth opportunities outside the U.S. - Management continues to focus on South America and certain areas in Europe for growth opportunities [20] Question: Inflationary pressures and supply chain issues - Management noted limited impact on cash flow due to the business model, despite market-wide supply chain challenges [23] Question: Operational performance of assets and updates on Pemex - Management reported significant improvements in operational performance and the situation with Pemex has also improved [24]

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Q1 2021 Earnings Conference Call May 6, 2021 8:30 AM ET Company Participants Santiago Seage - CEO Leire Perez - Director of IR Conference Call Participants Anya Shelekhin - Bank of America Merrill Lynch David Quezada - Raymond James Operator Welcome to Atlantica’s First Quarter 2021 Financial Results Conference Call. Atlantica is a sustainable infrastructure company that owns a diversified portfolio of contracted renewable energy, power generation, electr ...

Financial Data and Key Metrics Changes - Revenue for 2020 reached $1,013 million, stable compared to the previous year, while adjusted EBITDA decreased by 3.1% to $796 million [6] - Cash Available for Distribution (CAFD) increased by close to 6% year-over-year to $201 million, with an additional $216 million generated from one-off cash through project refinancings [6][7] - Operating cash flow for 2020 was $438 million, showing a 21% increase compared to 2019 [9] Performance by Business Line - In North America, revenue remained stable at $331 million, with EBITDA decreasing due to higher operating expenses at solar assets [7] - South America saw revenue and EBITDA increase by 7% and 4% respectively, driven by higher production from wind assets and contributions from recently acquired assets [7] - The water sector experienced revenue and EBITDA growth due to the consolidation of a new desalination plant [8] Market Data and Key Metrics Changes - Electricity produced by renewable assets reached 3,244 gigawatt hours in 2020, a slight increase from 2019 [8] - High availability levels were maintained in transmission lines and water sectors, around 100% [8] Company Strategy and Development Direction - The company plans to initiate 2021 CAFD target guidance in the range of $220 million to $240 million, with mid-term CAFD per share growth targets set at 5% to 8% [5][16] - Significant investments are planned for 2021, including $280 million in new equity investments and acquisitions of renewable energy assets [5][13] - The company aims to invest approximately $300 million annually in the mid-term, focusing on organic growth, partnerships, and third-party acquisitions [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding growth prospects for 2021, with a strong visibility on organic growth opportunities [22][24] - The company has received top ESG ratings, indicating a commitment to sustainability and corporate governance [12] Other Important Information - The company closed 2020 with net corporate debt of $659 million, maintaining a net corporate debt to CAFD pre-corporate debt service ratio of 3x [10] - Total liquidity available for new investments exceeds $750 million, including cash on hand and revolving credit facilities [11] Q&A Session Summary Question: Visibility on targets for 2022 and 2023 - Management indicated high visibility on organic growth opportunities for 2021 and expressed optimism for 2022 and 2023, although third-party acquisitions remain less defined at this stage [22][24] Question: Clarity on organic growth and development with partners - Management confirmed that organic growth and partnerships represent a significant portion of their growth strategy, with expectations to provide more details in upcoming quarters [24][25]

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Q3 2020 Earnings Conference Call November 6, 2020 8:30 AM ET Company Participants Santiago Seage - Chief Executive Officer Francisco Martinez-Davis - Chief Financial Officer Conference Call Participants Julien Dumoulin-Smith - Bank of America David Quezada - Raymond James Angie Storozynski - Seaport Global Operator Welcome to the Atlantica's Third Quarter 2020 Financial Results Conference Call. Atlantica is a sustainable infrastructure company that owns ...