Babcock & Wilcox Enterprises, Inc. · NYSE:BW
Babcock & Wilcox Enterprises — Investor Presentation (May 2021)
37 slides from Babcock & Wilcox Enterprises's investor presentation, May 3, 2021
Slide 1: Investor Presentation May 2021
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 1 Investor Presentation May 2021
Slide 2: Forward-looking statements cautionary note
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 2 B&W Enterprises cautions that this presentation contains forward - looking statements, including, without limitation, statements r elating to adjusted EBITDA and sales targets, expectations regarding
Slide 3: Preferred Stock Transaction Summary
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 3 Preferred Stock Transaction Summary Issuer Babcock & Wilcox Enterprises, Inc. (NYSE: BW) Security Series A Cumulative Perpetual Preferred Stock (“Series A Preferred Stock”) Proposed Ticker / Exchange
Slide 4: Executive Summary
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 4 Executive Summary B&W's transformation is gaining momentum, with new branding and a global expansion underway to pursue more than $5 billion in identified project opportunities in high - growth market
Slide 5: The next generation Babcock & Wilcox
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 5 The next generation Babcock & Wilcox is providing innovative environmental and renewable solutions, generating recurring revenues from a broad thermal installed base and expanding globally Next Genera
Slide 6: Technologies for renewable power, clean environment and steam generation
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 6 Waste - to - energy and biomass - to - energy baseload power, chemical recovery boilers for pulp & paper, multi - fuel technology, Dynagrate ® and vibrating combustion grates Technologies for Renewabl
Slide 7: A vast global installation of B&W's core technologies
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 7 A vast global installation of B&W’s core technologies at utility and industrial plants, renewable plants and pulp & paper facilities create a large growth opportunity for parts, services and retrofits
Slide 8: Company Profile
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 8 Company Profile Babcock & Wilcox is a global leader in advanced environmental, renewable and thermal technologies and services for power and industrial applications. B&W Renewable Power Generation 50
Slide 9: Global Expansion and 3-Year Pipeline
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 9 30 - 40% 20 - 25% 35 - 45% Global Expansion Europe More than $7B 2021 - 2023 Addressable Market Americas More than $8B 2021 - 2023 Addressable Market Middle East & Africa More than $4B 2021 - 2023 Add
Slide 10: Waste-to-Energy Technology Reduces Methane Emissions
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 10 B&W is actively deploying technology today which curbs the global warming impact of methane B&W’s Waste - to - Energy Technology Reduces Methane Emissions Methane has 84 times the Global Warming Po
Slide 11: Carbon Capture Technologies Ready for Commercial Demonstration
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 11 B&W is at the forefront of developing CO 2 capturing technologies Multiple technologies ready for commercial demonstration 93 active patents related to carbon capture technology Positioned to
Slide 12: Financial Information
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 12 Financial Information
Slide 13: Consolidated Financial Summary
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 13 *COVID - 19 adversely impacted all segments in 2020 and Q1 2021; strategic actions in 2019 and 2020 provide the foundation for a strong 2021 and beyond Consolidated Financial Summary Note: 2020 resul
Slide 14: Pro Forma Capital Structure
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 14 Pro Forma Capital Structure Note: Figures may not be clerically accurate due to rounding. (1) Includes impact of $50M preferred stock offering net of estimated commissions and expenses. (2) See SEC f
Slide 15: Executive Summary
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 15 Executive Summary B&W's transformation is gaining momentum, with new branding and a global expansion underway to pursue more than $5 billion in identified project opportunities in high - growth marke
Slide 16: Appendix
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 16 Appendix
Slide 17: Leadership Team
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 17 Kenny Young Chairman & Chief Executive Officer Leadership Team John Dziewisz General Counsel Jimmy Morgan Chief Operating Officer Lou Salamone Chief Financial Officer Jacqueline Opal Human Resources
Slide 18: Global trends driving need for environmental and renewable solutions
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 18 B&W is positioned to capitalize on global trends driving the need for environmental and renewable solutions Key Market Drivers & Opportunities Potential for carbon legislation benefits emergent carbo
Slide 19: Key Growth Strategies
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 19 Core growth strategies focused on driving innovative environmental and renewable technologies, growing aftermarket sales by leveraging the installed base, and expanding internationally in key regions
Slide 20: Strategic actions and achievements timeline
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 20 Focus on core products and services for environmental, renewable and thermal markets Increase emphasis on retrofit and aftermarket services Focus on quality, high margin projects rather than re
Slide 21: Key End Markets Product and Service Overview
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 21 Key End Markets Product and Service Overview Waste - to - Energy Biomass Pulp & Paper Waste - to - energy and biomass technologies, aftermarket equipment upgrades, parts and service Power Oil and Gas
Slide 22: Adjusted EBITDA reconciliation
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 22 Three months ended March 31, 2021* 2020 Adjusted EBITDA (2) $ 8.5 $ 1.0 Restructuring activities (1.0) (2.0) Financial advisory services (0.9) (0.9) Advisory fees for settlement costs and liquidity p
Slide 23: Segment adjusted gross profit and notes
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 23 (1) Intangible amortization is not allocated to the segments' adjusted gross profit, but depreciation is allocated to the segment s' adjusted gross profit. (2) Adjusted gross profit for the years end
Slide 24: Key Technologies
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 24 Key Technologies
Slide 25: Products & Services Across Our Brands
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 25 Aftermarket New Build Note: Gas - fired package boilers are used in coal - fired and renewable plants for start - up or auxiliary power Products & Services Across Our Brands Providing “life of the pl
Slide 26: Key Technologies: Steam Generation Technologies
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 26 Reduces dependency on landfills and reduces methane gas emissions Fuels: MSW, RDF Waste - to - Energy Boilers Single - drum, industry - standard unit for improved mill operation Fuels: Black liquor P
Slide 27: DynaGrate Pivoting Combustion Grate
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 27 Large installed base with diverse set of customers Grate design allows for high availability and long operational time, leading to reduced O&M cost High thermal efficiency and low emissions F
Slide 28: Emission Technology Solutions
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 28 Emission Technology Solution Particulate Control Pulse Jet Fabric Filters (PJFF) / Baghouses Wet and Dry Electrostatic Precipitators (ESPs) Wet Particulate Scrubbers Multiclone ® Dust Collect
Slide 29: Steam Generation & Environmental Solutions Across a Utility Plant
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 29 Key Technologies: Steam Generation & Environmental Solutions Across a Utility Plant Steam Generator Technology Pulverizers Furnace Burners and ignitors Sootblowers Pressure parts Air heat
Slide 30: Steam Generation, Combustion Grates & Flue Gas Treatment Across a Waste-to-Energy Plant
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 30 Key Technologies: Proven, proprietary DynaGrate ® combustion grate offers high reliability, maximizing waste throughput and MW output Advanced NextBAT ® technology provides a thermal efficiency o
Slide 31: Submerged Grind Conveyor Ash Handling
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 31 An innovative solution to eliminate ash ponds Key Technologies: Submerged Grind Conveyor Ash Handling Designed to meet current and future U.S. regulatory requirements for ash handling with: Lower e
Slide 32: Clean Coal Solutions Ready for Deployment
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 32 Carbon Capture Technology for the 1000 GW of Global Coal Installed Base Oxy - Fired Combustion Oxy - coal combustion technology “Near - zero” emissions 30 MW demonstration complete Full - sca
Slide 33: Chemical Looping Combustion Platform Technology
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 33 Key Technologies: Chemical Looping Combustion Platform Technology APPLICATIONS Combustion: Steam Gasification: H 2 Partial Oxidation: Syngas CHEMICAL LOOPING Turbine Fuel Cell/Boiler H 2 Storage Shif
Slide 34: Cooling Systems
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 34 Specialized services to maximize plant performance and minimize costs and maintenance Optimization Services Water preservation technology customized for high - performance, long - life, low noise, co
Slide 35: Global Parts & Service
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 35 Key Technologies: Global Parts & Service Upgrades & Retrofits Replacement Parts Optimization Systems Engineering Services Adding value through constructability: Safe execution of new installation, re
Slide 36: Eos Energy Storage Battery Storage System Solution
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 36 B&W will market Eos’ battery storage solutions globally B&W is exclusive preferred installer in U.S. and Canada Eos Znyth ® zinc battery technology is: • Scalable • Modular • Low Cost • Durable
Slide 37: & Wilcox Enterprises, Inc. All rights reserved.
BABCOCK & WILCOX ENTERPRISES, INC. © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 37
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