Investor Presentaiton
Detailed Financial Forecast
($ in millions)
2020E
2021E
2022E
2023E
2024E
2025E
2026E 2027E
Total EVgo GWh Throughput
15
24
69
245
578
1,117
1,731
2,478
LCFS Market GWh Throughput (1)
11
15
38
122
289
551
869
1,278
Revenue (2)
$14
$20
$54
$166
$326
$596
$905
$1,289
Growth (%)
49%
164%
207%
97%
83%
52%
42%
Gross Profit
$7
$10
$31
$100
$182
$345
$522
$745
Gross Profit (%)
52%
50%
58%
60%
56%
58%
58%
58%
Operating Costs (³)
(36)
(68)
(74)
(95)
(122)
(152)
(191)
(239)
Adj. EBITDA (2)
($29)
($58)
($43)
$5
$60
$193
$331
$507
Adj. EBITDA Margin (%)
NM
NM
NM
3%
19%
32%
37%
39%
Contractual OEM Payments
Change in NWC
20
24
24
31
9
5
5
1
(1)
(8)
(6)
(5)
(6)
(7)
Regulatory Credit Timing Impact
(0)
(5)
(16)
(12)
(32)
(39)
(51)
Maintenance and Upgrade CapEx
(1)
(5)
(19)
(16)
(9)
(6)
(9)
(9)
Free Cash Flow (pre-Net Growth CapEx)
($24)
($42)
($44)
($3)
$43
$155
$278
$440
Net Growth CapEx
(12)
(70)
(82)
(126)
(151)
(160)
(230)
(255)
Free Cash Flow (incl. Net Growth Capex)
($36)
($112)
($126)
($129)
($107)
($4)
$48
$185
Note:
(1)
(2)
Engineering & Construction salaries and third-party tech costs are fully expensed; GAAP generally capitalizes a portion of these costs and would otherwise result in an increase to earnings.
Represents throughput in California.
Certain contractual OEM payments to be received from 2021-2025 have been excluded from Revenue and Adjusted EBITDA in these projections pending determination of appropriate accounting
treatment of those payments. To the extent that these payments are excluded from revenue for accounting purposes in those years, those revenues will be deferred and recognized in full in future
years. Adj. EBITDA shown excludes D&A included in cost of sales.
EVgo
36
(3)
Operating costs include SG&A and total network non-energy costs.View entire presentation