Slide 1: Third Quarter 2022 Results Conference Call
Third Quarter 2022 Results Conference Call Investor Presentation
Slide 2: Safe-Harbor Statement
SAFE-HARBOR STATEMENT This release contains “forward looking statements”—that is, statements related to future, not past, events—as defined in Section 21E of the Securities Exchange Act of 1934, as amended, that reflect our current expectations regarding our future growth, results of operations, fin
Slide 3: 3Q22 Performance Overview
3Q22 PERFORMANCE OVERVIEW
Slide 4: Corporate Overview: Market update, recent results and outlook
CORPORATE OVERVIEW Market update, recent results and outlook Market Update 3Q22 Results Management Outlook As of November 2022 Performance Overview As of November 2022 Passage of Inflation Reduction Act (IRA) a major catalyst Business has stabilized, indications of accelerating growth Positive order
Slide 5: Positive Regulatory Tailwinds
POSITIVE REGULATORY TAILWINDS Passage of Inflation Reduction Act supports multi-decade drive toward decarbonization Inflation Reduction Act North America Onshore Wind Development Forecast(1) Implications for U.S. renewables industry(1) (Total GW Installed Annually, 2023-2030) 14.5 14.8 13.3 13.5 Som
Slide 6: Consolidated Financial Data
CONSOLIDATED FINANCIAL DATA Balanced demand acceleration across wind and non-wind end-markets Total Revenue Gross Profit ($MM) ($MM) 11% y/y revenue growth driven by improved contributions 81% y/y growth in gross profit driven by improved asset from Heavy Fabrications and Gearing segments optimizati
Slide 7: Heavy Fabrications Segment
HEAVY FABRICATIONS SEGMENT Tower demand accelerating following passage of Inflation Reduction Act Segment Revenue Segment EBITDA ($MM) ($MM) 7% y/y revenue growth driven by higher demand for industrial $0.5 million y/y EBITDA growth driven by fabrication products, offset by lower tower sales improve
Slide 8: Gearing Segment
GEARING SEGMENT Improved energy, industrial and mining demand for gearing components Segment Revenue Segment EBITDA ($MM) ($MM) 35% y/y revenue growth driven by higher customer demand $0.7 million y/y EBITDA growth driven by from within energy and industrial end-markets improved sales volumes and pr
Slide 9: Prudent Capital Management
PRUDENT CAPITAL MANAGEMENT Sequential increase in liquidity; building inventory to support incoming tower demand Cash & Credit Facility Availability at Quarter-End Net Debt Outstanding(1) ($MM) ($MM) Sufficient liquidity to support business growth; Total debt and finance lease obligations of $29.0 m
Slide 10: Strategic Business Update
STRATEGIC BUSINESS UPDATE Balanced demand acceleration across wind and non-wind end-markets Favorable Business Outlook Total Orders Enter 2023 with significant commercial momentum ($MM) $84.5 Much improved order visibility, as regulatory uncertainty subsides Passage of the IRA provides PTC visibilit
Slide 11: Vision 2025
VISION 2025 Building a precision manufacturing company focused on the energy transition Vision 2025 Adjacent Market Priorities Our Strategic Priorities High-growth, energy-transition vertical market focus Develop a culture of operational and commercial Wind excellence; recruit and retain top skilled
Slide 12: Appendix
APPENDIX
Slide 13: Exhibit A: Orders, Revenues and Operating Income by Segment
EXHIBIT A Orders, Revenues and Operating Income (Loss) Consolidated and by Segment 13 | Investor Presentation
Slide 14: Exhibit B: GAAP to Non-GAAP Adjusted EBITDA Reconciliation
EXHIBIT B GAAP to Non-GAAP Consolidated Adjusted EBITDA Reconciliation 14 | Investor Presentation
Slide 15: Exhibit B: GAAP to Non-GAAP Adjusted EBITDA Reconciliation
EXHIBIT B GAAP to Non-GAAP Consolidated Adjusted EBITDA Reconciliation 15 | Investor Presentation
Slide 16: Exhibit C: Consolidated Statement of Cash Flows
Nine Months Ended S eptember 30, 2022 2021 EXHIBIT C CAS H FLOWS FROM OPERATING ACTIVITIES : Net (loss) income…...…………………………………………………………………………………………… $ (6,879) $ 6,937 Consolidated Statement of Cash Flows Adjustments to reconcile net cash used in operating activities: Depreciation and amortization e
Slide 17: Exhibit D: Consolidated Balance Sheet
EXHIBIT D Consolidated Balance Sheet 17 | Investor Presentation
Slide 18: Independent Wind Energy Manufacturers
INDEPENDENT WIND ENERGY MANUFACTURERS Broadwind is a Key Link in the Value Chain Wind Blade Gearing / Nacelle Power Cables / System Tower 18 | Investor Presentation
Slide 19: IR Contact
IR CONTACT Please contact our investor relations team at Investor@BWEN.com