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Environmental Business: growth trends & normal companies Verbier, 10 th December, 2010.

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Presentation on theme: "Environmental Business: growth trends & normal companies Verbier, 10 th December, 2010."— Presentation transcript:

1 Environmental Business: growth trends & normal companies Verbier, 10 th December, 2010

2 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 1 High correlation between CO 2 and temperature CO 2 concentrations Last 400,000 years < 280 ppm Last 100 years up to 380ppm Current trend: 800 ppm by 2100 Stabilization objective of 550 ppm

3 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 2 Low targets, goals dropped: the Copenhagen Accord is a failure on fundamental issues : the Accord is not legally binding the Accord has no aggregate targets for industrial or developing countries, and no agreed base-year financial commitments from industrial countries are limited and uncertain The Copenhagen flop

4 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 3 The only and key driver: worldwide population growth + 3,5 x

5 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 4 The only and key driver: worldwide population growth

6 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 5 Crude oil (UK Brent) $/bbl 2000 Apr 10 28 85 +204% Coal (Australian) $/MoT 2000 Apr 10 26 107 +312% Natural gas (Russian) $/000m 3 2000 Apr 10 124 300 +142% Wheat $/MT 2000 Apr 10 114 193 +69% Rice $/MT 2000 Apr 10 203 505 +149% Palm oil $/MT 2000 Apr 10 261 798 +206% 2000 Apr 10 176 Iron cts/DMTU 29 +507% 2000 Apr 10 41 Uranium $/lb 8 +413% 2000 Apr 10 Copper $/MT 1.814 7.730 +326% The world… is not enough?

7 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 6 World energy consumption is increasing Energy demand per capita and GDP per capita (1980 – 2002) Electricity consumption kWh/person/day Usa x 32,8 Europe x 17,4 Italy x 13,7 China + India x2,4

8 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 7 World primary energy demand: fossil fuel leadership continues Source: World Energy Outlook 2008

9 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 8 Energy utilization (world): not only electricity Building & Others Transportation Electricity

10 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 9 ElectricityTransportIndustryBuildings Water, Waste, Recycling Renewables Technologies, developers and power production Wind Biomass/Biogas Solar Mini hydro Geothermal Sustainable biofuel technologies, production and feedstock Biomass boilers Biomass for heating: production and logistic New materials Biomass and solar boilers Biomass for heating: production and logistic Waste to energy Advanced materials Services Energy Efficiency Storage Grid efficiency Energy management systems Higher efficiency power plants (combustion and cooling) Technologies for: Hybrid, Electric Vehicle and Battery Weight reduction Exhaust energy recovery Heat recovery Infrastructure efficiency CHP Insulation ESCO Higher efficiency appliances CHP Lighting systems Water distribution & management Recycling Lightweight substitutes Services Pollution Cleaner power plants (e.g. denox, desox) Engine control Abatement systems Advance materials (catalysts and ceramics) Process pollution control (gas, waste, water, raw material) Air filtration Noise insulation Waste management Wastewater treatment Water filtration Services The environmental business sectors

11 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 10 Green stimulus ranking as % of total stimulus Source: HSBC, government announcements (*includes on EUs central recovery plan, member states listed separately) Green stimulus ranking (USD bln) Stimulus packages favour Renewables

12 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 11 Capital markets: Renewables vs total Source: Bloomberg

13 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 12 Source: Bloomberg - UK Brent price trend from 1985 to 2010 The worst crisis ever did confirm the main drivers for both energy efficiency...

14 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 13 … and pollution control Electricity Refineries Automotive Mln bbl Refineries Car Production mln units GW Source: OGJ

15 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 14 The Cleantech leagues – (on a world basis - 2009) No. 1 in Europe

16 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 15 Only listed companies active primarily in the environmental sector (consistent with Ambienta I definition) UCITS III fund managed by Kairos Sgr, launched in September 2010 Low leverage, key strategy based on fundamental values, worldwide capital markets, around 30% short selling on NAV Ambienta SGR to be the sector advisor to the fund. "Kairos Ambiente" Fund www.kairospartners.com

17 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 16 Ambienta I, portofolio companies results

18 Ambienta SGR Strictly Private & Confidential www.ambientasgr.com Tel: +39 02 7217461 Fax: +39 02 72174646 Via Larga 2, 20122 – MILANO - ITALY 17 The environmental business: not only renewables (and therefore not only incentives driven)… A long time trend enjoying solid economic growth, that is even better off after the crisis Not only new tech and infrastructure, but also lots of normal companies An European job Final remarks


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