Slide 1: Fourth Quarter & Full-Year 2023 Conference Call Presentation
1 Broadwind | Investor Presentation 2023 Fourth Quarter & Full - Year 2023 Conference Call Presentation March 5, 2024
Slide 2: Safe Harbor Statement
2 Broadwind | Investor Presentation 2023 SAFE HARBOR STATEMENT This document contains “forward - looking statements” — that is, statements related to future, not past, events — as defined in Section 21 E of the Securities Exchange Act of 1934 , as amended, (the “Exchange Act”), that reflect our curr
Slide 3: 4Q23 Performance Summary
4Q23 PERFORMANCE SUMMARY
Slide 4: Performance Update: Strategic Progress Points
4 Broadwind | Investor Presentation 2023 PERFORMANCE UPDATE Strategic Progress Points As of March 2024 Strong full - year 2023 performance. Record margin realization, net income and Adjusted EBITDA, despite demand pause within core wind markets Improved margin realization. Adjusted EBITDA margins +9
Slide 5: Consolidated Financial Performance
5 Broadwind | Investor Presentation 2023 Year - over - year organic growth in revenue, margin realization and profitability CONSOLIDATED FINANCIAL PERFORMANCE Total Revenue ($MM) Gross Profit ($MM) Adjusted EBITDA ($MM) GAAP Net Income (Loss) ($MM) Solid 4Q23 execution in a dynamic operating environ
Slide 6: Fourth Quarter 2023 Heavy Fabrications Segment
6 Broadwind | Investor Presentation 2023 Fourth Quarter 2023 HEAVY FABRICATIONS SEGMENT AMP credits and operational execution support improved margin realization Segment Adjusted EBITDA increased by $3.4 million y/y to $3.7 million , driven by increased tower sales volumes and AMP credit benefit Seg
Slide 7: Fourth Quarter 2023 Gearing Segment
7 Broadwind | Investor Presentation 2023 Fourth Quarter 2023 GEARING SEGMENT Solid y/y growth in segment Adjusted EBITDA and margin realization Growth in segment Adjusted EBITDA from 6.7% to 11.9%, driven by more profitable mix of product sold and improved operational execution Segment orders and ba
Slide 8: Fourth Quarter 2023 Industrial Solutions Segment
8 Broadwind | Investor Presentation 2023 Fourth Quarter 2023 INDUSTRIAL SOLUTIONS SEGMENT Continue to see demand acceleration within the natural gas turbine market, building on the market recovery evidenced throughout 2022 - 2023 Strong organic revenue growth , supported by strong demand within NGT
Slide 9: Liquidity and Capital Allocation
9 Broadwind | Investor Presentation 2023 (1) On August 4, 2022, Broadwind entered into a $35.0 million Senior Secured Revolving Credit Facility (the “Credit Facility”), including an optional $10.0 mi ll ion accordion feature, and a $7.6 million Senior Secured Term Loan (the “Term Loan). The Term Loa
Slide 10: First Quarter 2024 Financial Guidance
10 Broadwind | Investor Presentation 2023 Introducing First Quarter 2024 revenue and Adjusted EBITDA guidance Guidance supported by targeted commercial growth within high - value, growth - oriented fabrications markets, together with a targeted focus on asset optimization and operational discipline
Slide 11: Appendix
APPENDIX
Slide 12: Corporate Overview
12 Broadwind | Investor Presentation 2023 CORPORATE OVERVIEW We support the world’s energy transition as a leading independent producer of wind towers, gearing, custom fabrications, clean fuel processing systems and supply chain solutions Broadwind is a precision manufacturer of technologically adva
Slide 13: What We Do
13 Broadwind | Investor Presentation 2023 What we do Precision manufacturing within wind sector and other diverse end - markets We provide large complex and precision fabrications to customers in a broad range of industrial markets, as well as proprietary clean fuel processing systems. Key products
Slide 14: Inflation Reduction Act Impact Benefit
14 Broadwind | Investor Presentation 2023 INFLATION REDUCTION ACT IMPACT BENEFIT At full utilization, IRA could provide up to ~$30 million in incremental annual gross profit Broadwind is prepared to leverage the benefits of the IRA to create shareholder value The IRA serves to materially enhance tow
Slide 15: Passage of IRA Supports Multi-Year Investment in Wind
15 Broadwind | Investor Presentation 2023 PASSAGE OF IRA SUPPORTS MULTI - YEAR INVESTMENT IN WIND Inflation Reduction Act of 2022 supports multi - decade decarbonization of domestic energy grid Broadwind is uniquely positioned to take advantage of the increased development activity driven by the IRA
Slide 16: Appendix: Balance Sheet
16 Broadwind | Investor Presentation 2023 APPENDIX Balance Sheet
Slide 17: Appendix: Income Statement
17 Broadwind | Investor Presentation 2023 APPENDIX Income Statement
Slide 18: Appendix: Statement of Cash Flows
18 Broadwind | Investor Presentation 2023 APPENDIX Statement of Cash Flows
Slide 19: Appendix: GAAP to Non-GAAP Reconciliation
19 Broadwind | Investor Presentation 2023 APPENDIX GAAP to Non - GAAP Reconciliation
Slide 20: Appendix: Segment-Level Data
20 Broadwind | Investor Presentation 2023 APPENDIX Segment - Level Data
Slide 21: IR Contact
21 Broadwind | Investor Presentation 2023 Please contact our investor relations team at: BWEN@val - adv.com IR CONTACT