Slide 1: Q4 & Full Year 2024 Earnings Call Presentation
Q4 & Full Year 2024 Earnings Call Presentation March 13, 2025 Bird Construction Inc. (TSX:BDT) Q4 & FY 2024 Earnings Call Presentation
Slide 2: Terminology and non-GAAP & other financial measures
Terminology and non-GAAP & other financial measures Disclaimer Throughout this presentation, management uses certain terminology and financial measures that do not have standard meanings under IFRS and are considered specified financial measures. These include non-GAAP financial measures, non-GAAP
Slide 3: Financial Highlights – Full Year 2024
Financial Highlights FULL YEAR 2024 in millions of Canadian dollars Adj. EBITDA1 & Adj. Revenue EBITDA Margin2 • Accelerated Growth & Margin Expansion 21% y/y – Driven by diversification in high-demand 53% y/y sectors, industrial and infrastructure growth, 6.3% $3,397 6.0% and increased self-perform
Slide 4: Sustained, Diversified, and Risk-Balanced ~$3.7B Backlog
Sustained, Diversified, and Risk-Balanced BACKGROUND BACKLOG BREAKDOWN Backlog Characterizations Expect Significant Conversions of Pending Backlog to Backlog in 1H Driven by Collaborative Projects Successfully Reaching Construction Phase Securements across our businesses with ■ Recurring Revenue ■ P
Slide 5: Building on the foundation of operational excellence and safe execution
Building on the foundation of operational excellence and safe execution, considerable growth and sustained momentum from the Company's 2022-2024 Strategic Plan.
Slide 6: 2025-2027 Strategic Plan Targets
2025-2027 Strategic Plan Targets Revenue Adj. EBITDA Dividends 10% +/- 2% 8.0% 33% Organic revenue growth CAGR Adjusted EBITDA Margin for full-year 2027 Dividend payout ratio of (with 2025 receiving an additional 5% growth from the full year of Jacob Bros. revenue, when compared to 2024) Net Income
Slide 7: Key Strategic Sectors
Key Strategic Sectors Well-positioned to Benefit from Significant Long-term Demand Strategic focus on economically resilient sectors supported by longer-term drivers, >80% such as: defence spending; transportation infrastructure; power infrastructure, Revenue and combined including nuclear and hydro
Slide 8: Recent Highlights
Recent Highlights Infrastructure Buildings Rail Defence • Arctic Security Strategy: $2.7B over 20 years for three • Rail Connect Partners, Bird’s 50/50 joint venture with northern military hubs. AtkinsRéalis, finalized and signed the Project Alliance Agreement with Metrolinx to deliver the East Harb
Slide 9: Operational Excellence Driving Growth on Large Capital Investment Projects
Operational Spotlight Projects Excellence Driving Woodfibre LNG Project Growth on Large Key construction subcontractor on $5.1B project for world’s first net-zero LNG export facility; notably, completed over $1B in work at the Kitimat LNG Project. Capital Investment Bruce and Darlington Nuclear Faci
Slide 10: Q4 & Full Year 2024 Financial Highlights
Q4 & Full Year 2024 Financial Highlights Revenue growth, continued margin accretion and delivering earnings and operating cash flow improvements that significantly outpaced revenue growth. Twelve Months Three Months Ended Y/Y Y/Y Ended December 31, 2024 Change Change December 31, 2024 Revenue $936.7
Slide 11: Risk-Balanced Business Model with a Proven Track Record of Generating Growth and Profitability
Risk-Balanced Business Model with a Proven Track Record of Generating Growth and Profitability 2022-2024 2025-2027 10.0% +/- 2% Revenue growth will be driven by above market growth in infrastructure and • Adj. EBITDA (TTM) CAGR1 25% industrial with in-line market growth expected for buildings. • Add
Slide 12: Strong Cash Flow Generator
Strong Cash Flow Generator Solid, sustained financial foundation with flexibility for continued growth Cash Flows from Operating Activities Expanding Free Cash Flow Robust return & capital 47% Generation efficiency metrics CAGR1 $114 $76 $43 80.4% 32.7% 2022 2023 2024 FCF Conversion % of ROE2 Net In
Slide 13: Disciplined Capital Allocation Strategy
Disciplined Capital Allocation Strategy Uses of capital Future priorities (2022-2024) (2025-2027) 215% increase Internal Investments to monthly • Investing in project-related equipment dividend • Advancing efficiency, data analytics and productivity of 27% Smart capital technology investments to 34%
Slide 14: Outlook
Committed to Our Strategic Plan – Entering 2025 from a position of strength with record liquidity, a near-record combined backlog with higher embedded margins providing exceptional visibility, and a strong bidding environment in Outlook strategic, resilient sectors driving confidence in achieving ou
Slide 15: Appendix
Appendix
Slide 16: Capital Markets Overview
$20.78 ~4.0% ~$1.2B Capital Share Price(1) Dividend Yield(2) Market Capitalization (1) Markets Overview $17.89/$32.67 55,382,831 52 Week Low / High (1) Shares Outstanding (1) Organic and M&A Firm Analyst Contact Revenue Growth ATB Capital Chris Murray 647.776.8246 cmurray@atb.com BMO Capital Markets
Slide 17: Q4 & Full Year 2024 Earnings Call Presentation
Q4 & Full Year 2024 Earnings Call Presentation Bird Construction Inc. (TSX:BDT) Q4 & FY 2024 Earnings Call Presentation 16