Mirion Technologies, Inc. · NYSE:MIR
Mirion Technologies — Q3 2024 Earnings Presentation
26 slides from Mirion Technologies's earnings presentation, Oct 30, 2024
Slide 1: Third Quarter 2024 Earnings Presentation
October 29, 2024 Third Quarter 2024 Earnings Presentation
Slide 2: Disclaimer
Q3 2024 EARNINGS PRESENTATION Disclaimer Forward-Looking Statements This presentation contains 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”, “hope”, “i
Slide 3: Positioned Well to Global Super Trends
Q3 2024 EARNINGS PRESENTATION Mirion | Positioned Well to Global Super Trends Nuclear Power Cancer Care 3
Slide 4: Global Resurgence in Nuclear Power
Q3 2024 EARNINGS PRESENTATION Mirion | Global Resurgence in Nuclear Power Growing appetite from Hyperscalers and Artificial Intelligence providers for energy Securing sources of green and reliable energy sources Multiple nuclear power agreements announced in the past two months Supporting large-scal
Slide 5: Leader in Cancer Care
Q3 2024 EARNINGS PRESENTATION Mirion | Leader in Cancer Care Market growth supported by underlying trends Aging population; improving standards of care; exponential growth in radiopharmaceuticals Diverse business lines leveraged to market growth Radiation Therapy Quality Assurance; Nuclear Medicine;
Slide 6: Key Messages
Q3 2024 EARNINGS PRESENTATION • Signed strategic alliance agreement with Varian, a Siemens Healthineers company, for Radiation Therapy software solutions • Revenue growth of 8.2%, driven by nuclear power and nuclear medicine • 3Q organic revenue growth of +6.1%; Technologies +7.8%; Medical +3.2% • D
Slide 7: Orders Performance and Backlog Trends
Q3 2024 EARNINGS PRESENTATION Orders Performance and Backlog Trends • 3Q 2024 orders decline of ~30% impacted by $82 million of Turkish new build and Asian spare part orders in 3Q23 • 3Q 2024 adjusted order growth of ~13% compared to 3Q 2023, excluding impacts from these two large orders Orders Perf
Slide 8: Third Quarter Ended September 30, 2024
Q3 2024 EARNINGS PRESENTATION Mirion | Third Quarter Ended September 30, 2024 Revenue Adjusted Gross Profit & Margin Adjusted EBITDA & Margin Adjusted EPS $ millions | % percentage $ millions | % percentage $ millions | % percentage $ / share % 3Q24 vs. 3Q23 Organic +6.1% Acquisition +1.6% FX +0.5%
Slide 9: Medical | Third Quarter Ended September 30, 2024
Q3 2024 EARNINGS PRESENTATION Medical | Third Quarter Ended September 30, 2024 Revenue Adjusted EBITDA and Margin $ millions | % percentage $ millions | % percentage % 3Q24 vs. 3Q23 Organic +3.2% MEDICAL SEGMENT Acquisition +4.4% FX Total +0.1% +7.7% Top-line performance led by Nuclear Medicine +7.7
Slide 10: Technologies | Third Quarter Ended September 30, 2024
Q3 2024 EARNINGS PRESENTATION Technologies | Third Quarter Ended September 30, 2024 Revenue Adjusted EBITDA and Margin $ millions | % percentage $ millions | % percentage % Organic 3Q24 vs. 3Q23 +7.8% TECHNOLOGIES SEGMENT Acquisition +0.0% FX +0.6% Nuclear Power order growth of ~12% Total +8.4% (exc
Slide 11: Leverage and Adjusted Free Cash Flow
Q3 2024 EARNINGS PRESENTATION Leverage and Adjusted Free Cash Flow ($ millions) YTD23 YTD24 Leverage at 2.9x; half a turn improvement vs. last year Net cash provided by operating activities $28.2 $38.3 Purchases of PPE and badges (25.2) (37.1) YTD adjusted free cash flow relatively flat year- Pr
Slide 12: Updated 2024 Guidance
Q3 2024 EARNINGS PRESENTATION Updated 2024 Guidance Category1 October 29, 2024 August 2, 2024 What we are seeing and expectations • Net inorganic growth expected to be ~1.5% from ec2 acquisition Revenue Growth 6% to 7% 5% to 7% • Expected shutdown of lasers business projected to impact organic growt
Slide 13: Upcoming Investor Conference Schedule
Q3 2024 EARNINGS PRESENTATION Upcoming Investor Conference Schedule Global 2024 Global Small and Global Industrials & Industrials & Industrial Mid-Cap Healthcare Materials Transportation Conference Conference Conference Conference Conference November 14-15 December 4 December 4 December 5 December 5
Slide 14: Mirion Investor Day
Q3 2024 EARNINGS PRESENTATION Mirion Investor Day December 3, 2024 2:00 p.m. ET Registration Link date time webcast 2024 Investor Day New York Stock Exchange New York, NY 14
Slide 15: Appendix
Q2 2024 EARNINGS PRESENTATION Appendix 15
Slide 16: 2-Year Revenue Growth Stacks
Q3 2024 EARNINGS PRESENTATION 2-Year Revenue Growth Stacks Organic Revenue Growth Reported Revenue Growth Total Company Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY a 2024 5.5% 3.6% 6.1% a 2024 5.8% 5.0% 8.2% b 2023 7.9% 8.4% 17.3% 5.3% 9.3% b 2023 11.6% 12.2% 18.8% 5.7% 11.6% c 2022 (4.2)% (1.7)% 9.0% 19.1% 5.7%
Slide 17: Eleven Quarter Segment Reconciliation – Medical
Q3 2024 EARNINGS PRESENTATION Eleven Quarter Segment Reconciliation Medical 17
Slide 18: Eleven Quarter Segment Reconciliation – Technologies
Q3 2024 EARNINGS PRESENTATION Eleven Quarter Segment Reconciliation Technologies 18
Slide 19: Eleven Quarter Segment Reconciliation – Corporate & Other
Q3 2024 EARNINGS PRESENTATION Eleven Quarter Segment Reconciliation Corporate & Other 19
Slide 20: Eleven Quarter Segment Reconciliation – Consolidated
Q3 2024 EARNINGS PRESENTATION Eleven Quarter Segment Reconciliation Consolidated 20
Slide 21: Non-GAAP Reconciliations
Q3 2024 EARNINGS PRESENTATION Non-GAAP Reconciliations Consolidated – Income from Operations, Gross Profit & Adjusted EBITDA 21
Slide 22: Non-GAAP Reconciliations
Q3 2024 EARNINGS PRESENTATION Non-GAAP Reconciliations Adjusted Earnings per Share 22
Slide 23: Non-GAAP Reconciliations
Q3 2024 EARNINGS PRESENTATION Non-GAAP Reconciliations Adjusted Order Growth (Decline) a b a-b=c c/b=d Three Months Ended Three Months Ended ($ in millions) September 30, 2024 September 30, 2023 Variance ($) Variance (%) Total orders $ 182.5 $ 261.2 $ (78.7) -30.1% Adjustment for ec2 acquisition and
Slide 24: Share Count Details
Q3 2024 EARNINGS PRESENTATION Share Count Details1 Share Description Outstanding Securities2 Notes Outstanding Shares of Class A Common Stock Outstanding shares as of close of trading on the New York Stock Exchange (NYSE) September 30, 2024 including in calculation 206,718,851 (as of 9/30/2024) of
Slide 25: Footnotes to Share Count and Adjusted Metrics
Q3 2024 EARNINGS PRESENTATION Footnotes to Share Count and Adjusted Metrics Share count 206,718,851 shares of Class A common stock were outstanding as of September 30, 2024. This excludes (1) 6,790,790 shares of Class B common stock outstanding as of September 30, 2024 (2) 18,750,000 founder shares
Slide 26: Mirion
M MIRION