Exhibit 99.1
Lincolnway Energy Annual Meeting 2021
Agenda Annual Meeting BusinessCall to Order – Jeff TaylorBoard Members – Proxy Results - Introduction of CEO, Seth Harder – Financial Year in Review Financial Director – Jeff KistnerQuestionsAdjourn
Board Members Class A Unit Board Representatives:Robert BrummelsDan HeardMarv StechJim Krause Common and Class B Board Representatives:Jeff TaylorChairman of the BoardBill CouserVice Chair/SecretaryRick VaughanTreasurer & Audit Committee Chair
Forward Looking Statement This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are made in good faith by Lincolnway Energy, LLC and are identified by including terms such as “may,” “will,” “should,” “expects,” “anticipates,” “estimates,” “plans,” or similar language. All of these forward-looking statements are expressly qualified by the risk factors contained in our filings with the Securities and Exchange Commission, including without limitation, those identified in our annual report on Form 10-K for the fiscal year ended September 30, 2020. These risk factors could cause actual results to differ materially from those contained in any forward-looking statement made by or on behalf of Lincolnway Energy and include, without limitation, competition in the ethanol industry, commodity market risks, financial market risks, counter-party risks, and risks associated with changes to federal policy or regulation. The forward-looking statements contained in this presentation are included in the safe harbor protection provided by Section 27A of the Securities Act of 1933. Lincolnway Energy does not undertake to update any forward-looking statement made herein or which may be made from time to time by or on behalf of Lincolnway Energy unless an update is required by applicable securities laws.
State of the CompanyFY 2020
2020 An Extreme Year
COVID Gasoline Demand Ethanol Stocks Ethanol Production
Derecho Iowa Corn average in 2019 was 198 bushels per acre!
Corn
Margins from 2020
Previous Predictions
Current Metrics Energy – sustained a 5000 BTU decrease per gallon 3 million gallons of water saved per monthProduction – 84 mmgy sustained with permits DDG test weights at industry premium - no price discounts Syrup sales discontinued- Maintenance and repairs $0.02 or lessReduced overall costs based on multi plant synergies
Margins , Cash and Debt Cost of goods sold per gallon dropped from $.50 to $.31As margins increased in the summer grind was maximizedCash increased average of $1million per month$500,000 additional debt reduction monthly from June - December
Christianson Benchmark results The Christianson benchmark is a quarterly financial study by Christianson and Associates in Wilmar MN Typical 50 to 60 plants participateOver the last 3 quarters ranking has steadily improved Q4 2019 – 42/54Q1 2020 – 27/49Q2 2020 – 22/50Q3 2020 – 10/51 for net income per gallon
Competition from other fuels The electric era – California to ban ICE sales after 2035Huge announcements from the autos about ICE’s Cars are in the motor pool an average of 13 yearsThe US uses just over 100 quadrillion BTU’s annually Oil and Gas industry
Low Carbon Fuels Low Carbon Markets are forming across the globe Brand New Study – Ethanol 46% lower carbon emissions compared to gasolinePossible cooperation with others for wind and biogasHeat Recovery projects to lower energy intensitySteam tube dryersCorn Kernel Fiber – ultra low carbon score to CaliforniaSummit Ag Cooperation
Lincolnway Max Maximize the core asset NOT a duplicate plant Target of less than $1 dollar per gallon constructionNew plant base $1.75 per gallonTried and true approach High protein feed still a potential
Financial Year in Review FY 2020Jeff Kistner
Balance Sheet Comparison September 30, 2019 & 2020
Comparison of Fiscal Years Ended September 30, 2019 and 2020
Comparison of Fiscal Years Ended September 30, 2019 and 2020
Quarter over Quarter June 2019 to Sept 2020 Q3 – June 2019Q4 – Sept 2019Q1 – Dec 2020Q2 – March 2020Q3 – June 2020Q4 – Sept 2020
Cash Flows for FY 2020
Thank you Questions
Adjourn