Slide 1: Fiscal Quarter and Fiscal Year Ended December 31, 2021 Earnings Presentation
Fiscal Quarter and Fiscal Year Ended December 31, 2021 Earnings Presentation February 23, 2022
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation and the accompanying oral commentary contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate”, “expect”, “hop
Slide 3: Message from Larry Kingsley, Chairman of the Board
MIRION TECHNOLOGIES Message from Larry Kingsley, Chairman of the Board roy | Mirion participates in resilient underlying markets, has differentiated and diverse product offerings and a long history of success and margin expansion Utmost confidence in Mirion management team to execute on strategic ob
Slide 4: Market Performance and Outlook
Market Performance and Outlook Continued strong outlook in medical end markets, positive signs in nuclear CY21 % Market Mirion ’22 Segment and End Market Commentary and Trends of Total Growth1 Outlook Medical | CY21 Revenue ~$228M 34% of Total Radiation Therapy • Stable market enhanced by post-pande
Slide 5: Fiscal Quarter and Fiscal Year Ended December 31, 2021 Summary
Fiscal Quarter and Fiscal Year Ended December 31, 2021 Summary • Solid performance despite supply chain volatility Adjusted Revenue Organic Growth • 3 months ended December 31, 2021 3-months and 12-months ended Dec. 2021 % percentage • Adjusted Revenue of $180.9M and Adjusted EBITDA of $44.8M, organ
Slide 6: Outlook for Calendar Year 2022
Outlook for Calendar Year 2022 Consistent growth and continued margin expansion Adj. Revenue Growth1 Adjusted EBITDA Adjusted EPS Reported +5.5% to 7.5% $175M to $185M $0.45 to $0.50 Organic +5% to 7% Medical HSD 24% to 25% Margin2 181M shares3 Industrial MSD +100 to 200 bps margin expansion Margin
Slide 7: Mirion | Fiscal Quarter and Year Ended December 31, 2021
Mirion | Fiscal Quarter and Year Ended December 31, 2021 Solid organic growth, revenue gains offset by inflation, FX and higher operation expenses Adjusted Revenue Adjusted EBITDA and Margin Adjusted Gross Margins 3-months and 12-months ended Dec. 2021 3-months and 12-months ended Dec. 2021 3-months
Slide 8: Medical Segment | Fiscal Quarter and Year Ended December 31, 2021
Medical Segment | Fiscal Quarter and Year Ended December 31, 2021 Organic growth affected by Nuclear Medicine performance, strong RT QA quarter and year Adjusted Revenue Adjusted EBITDA and Margin MEDICAL SEGMENT 3-months and 12-months ended Dec. 2021 3-months and 12-months ended Dec. 2021 $ million
Slide 9: Period Ended December 31, 2021 Performance Summary | Industrial
Period Ended December 31, 2021 Performance Summary | Industrial Organic growth of 3.3% for the quarter, inflation and FX offsetting revenue contribution Adjusted Revenue Adjusted EBITDA and Margin INDUSTRIAL SEGMENT 3-months and 12-months ended Dec. 2021 3-months and 12-months ended Dec. 2021 $ mill
Slide 10: December 2021 Leverage, Liquidity and Adjusted Free Cash Flow
December 2021 Leverage, Liquidity and Adjusted Free Cash Flow Higher leverage on acquisition of CIRS as expected, total liquidity of $166M Leverage Liquidity and Adjusted Free Cash Flow • Cash on hand as of December 31, 2021 of $84M • Acquisition of CIRS results in $54M use of cash for the quarter e
Slide 11: Guidance for the 12 Months Ending December 31, 2022
Guidance for the 12 Months Ending December 31, 2022 Confident in outlook despite impacts of the global pandemic Category1 Guidance What we are seeing and expectations Reported Adj. Revenue Growth 5.5% to 7.5% • Strong orders and backlog coverage (~45% of CY22 revenue in backlog) Organic Adj. Revenue
Slide 12: Mirion 2022 Outlook and Key Messages
Mirion 2022 Outlook and Key Messages Adj. Revenue Growth1 Adjusted EBITDA Adjusted EPS Reported +5.5% to 7.5% $175M to $185M $0.45 to $0.50 Organic +5% to 7% Medical HSD 24% to 25% Margin2 181M shares3 Industrial MSD +100 to 200 bps margin expansion Key Takeaways: • Successfully became a public comp
Slide 13: Appendix
Appendix &
Slide 14: Backlog Trend | Q4 CY20 to Q4 CY21
Backlog Trend | Q4 CY20 to Q4 CY21 $ millions $766 $748 $716 $703 $650 $652 $637 $621 $601 Q4 CY19 Q1 CY20 Q2 CY20 Q3 CY20 Q4 CY20 Q1 CY21 Q2 CY21 Q3 CY21 Q4 CY21 Note: Backlog figures on an as reported basis Backlog figures include acquisitions of Capintec after Jul-19, Premium Analyse after Sep-19
Slide 15: Non-GAAP Reconciliation
Non-GAAP Reconciliation Medical - Segmented Adjusted Revenue & Adjusted EBITDA a b c d=b-c e=a+d Combined (non- Successor Predecessor GAAP) Oct 20, 2021 Jul 1, 2021 Jul 1, 2021 through Dec through Oct 19, through Sep 20 Days for $ in millions 31, 2021 2021 30, 2021 Q4 2021 Q4 2021 Revenue $ 49.2 $ 6
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Industrial - Segmented Adjusted Revenue & Adjusted EBITDA a b c d=b-c e=a+d Combined (non- Successor Predecessor GAAP) Oct 20, 2021 Jul 1, 2021 Jul 1, 2021 through Dec through Oct 19, through Sep 20 Days for $ in millions 31, 2021 2021 30, 2021 Q4 2021 Q4 2021 Revenue $ 104.9
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation Corporate & Other - Segmented Adjusted Revenue & Adjusted EBITDA a b c d=b-c e=a+d Combined (non- Successor Predecessor GAAP) Oct 20, 2021 Jul 1, 2021 Jul 1, 2021 through Dec through Oct 19, through Sep 20 Days for $ in millions 31, 2021 2021 30, 2021 Q4 2021 Q4 2021 Revenue
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation Consolidated - Segmented Adjusted Revenue & Adjusted EBITDA a b c d=b-c e=a+d Combined (non- Successor Predecessor GAAP) Oct 20, 2021 Jul 1, 2021 Jul 1, 2021 through Dec through Oct 19, through Sep 20 Days for $ in millions 31, 2021 2021 30, 2021 Q4 2021 Q4 2021 Revenue $ 154
Slide 19: Eight Quarter Segment Reconciliation
Eight Quarter Segment Reconciliation Medical Segment Combined (non- Combined (non- GAAP) Predecessor GAAP) Predecessor $ in millions Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 CY 2021 CY 2020 Revenue $ 57.5 $ 52.0 $ 52.1 $ 51.5 $ 31.7 $ 20.4 $ 18.1 $ 15.1 $ 213.1 $ 85.3 Revenue
Slide 20: Eight Quarter Segment Reconciliation
Eight Quarter Segment Reconciliation Industrial Segment Combined (non- Combined (non- GAAP) Predecessor GAAP) Predecessor $ in millions Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 CY 2021 CY 2020 Revenue $ 120.3 $ 92.3 $ 127.9 $ 114.7 $ 119.0 $ 94.2 $ 123.0 $ 94.7 $ 455.2 $ 430.9
Slide 21: Eight Quarter Segment Reconciliation
Eight Quarter Segment Reconciliation Corporate & Other Segment Combined (non- Combined (non- GAAP) Predecessor GAAP) Predecessor $ in millions Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 CY 2021 CY 2020 Revenue $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Revenue reduction from purcha
Slide 22: Eight Quarter Segment Reconciliation
Eight Quarter Segment Reconciliation Consolidated Combined (non- Combined (non- GAAP) Predecessor GAAP) Predecessor $ in millions Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 CY 2021 CY 2020 Revenue $ 177.8 $ 144.3 $ 180.0 $ 166.2 $ 150.8 $ 114.6 $ 141.2 $ 109.8 $ 668.3 $ 516.4 Re
Slide 23: Non-GAAP Reconciliations
Non-GAAP Reconciliations Consolidated – Income from Operations, Gross Profit & Adjusted EBITDA a b c d=b-c e=a+d Combined (non- Successor Predecessor GAAP) Oct 20, 2021 Jul 1, 2021 Jul 1, 2021 through Dec 31, through Oct 19, through Sep 30, 20 Days for 2021 2021 2021 Q4 2021 Q4 2021 Net income (loss
Slide 24: Share Count Details
Share Count Details As of December 31, 20211 Outstanding Fully Diluted Share Description Securities (Illustrative)2,3,4 Notes Shares of Class A Common Stock – Public 180,773,292 180,773,292 Outstanding shares as of close of trading on the New York Stock Exchange (NYSE) December 31, 2021 Shares for
Slide 25: Footnotes to Share Count and Adjusted Metrics
Footnotes to Share Count and Adjusted Metrics Share Count Consists of 180,773,292 shares of Class A common stock and 8,560,540 shares of Class B common stock outstanding as of December 31, 2021. Excludes (1) 18,750,000 founder shares which are shares of Class A common stock subject to vesting in thr
Slide 26: Mirion Technologies
m MIRION TECHNOLOGIES MIR LISTED NYSE