Advanced Drainage Systems, Inc. · NYSE:WMS
Advanced Drainage Systems — Q4 FY2022 Earnings Presentation
13 slides from Advanced Drainage Systems's earnings presentation, May 19, 2022
Slide 1: Q4 Fiscal 2022 Financial Results
Q4 Fiscal 2022 Financial Results May 19, 2022
Slide 2: Management Presenters
Management Presenters 2 Scott Barbour President and Chief Executive Officer Scott Cottrill Executive Vice President, Chief Financial Officer Mike Higgins Vice President, Corporate Strategy & Investor Relations
Slide 3: Forward Looking Statements and Non-GAAP Financial Metrics
Forward Looking Statements and Non-GAAP Financial Metrics 3 Certain statements in this press release may be deemed to be forward-looking statements. These statements are not historical facts but rather are based on the Company’s current expectations, estimates and projections regarding the Company’s
Slide 4: Fiscal Year 2022 Results
Fiscal Year 2022 Results 4 Key Metric FY 2022 Guidance FY 2022 Results Net Sales (in Millions) $2,675 - $2,725 $2,769 Adj. EBITDA (in Millions) $635 - $665 $676 Adj. EBITDA Margin 23.7% - 24.4% 24.4% FY22 Domestic Revenue by End Market Non-Residential Construction Residential Construction Infrastruc
Slide 5: Q4 Fiscal 2022 Highlights
Q4 Fiscal 2022 Highlights 5 $578 $131 $369 $91 ADS Legacy Infiltrator Q4 FY22 Q4 FY21 Sales Growth +57% +43% Demand • Growth driven by favorable pricing and continued strong demand at both ADS and Infiltrator. • Q4 FY22 volume increase in construction markets. Revenue Business UpdatesProfitability $
Slide 6: Q4 Fiscal 2022 Financial Performance
Q4 Fiscal 2022 Financial Performance 6 24.8% 21.3% Q4 FY22 Q4 FY21 $678 $444 Q4 FY22 Q4 FY21 +350 bps (USD, in millions)+52.8% Domestic Markets + Construction +61% + Non-Residential +68% + Residential +53% + Infrastructure +50% ‒ Agriculture (16%) Revenue Performance By Business + ADS Legacy +56% +
Slide 7: Free Cash Flow and Capital Structure
Free Cash Flow and Capital Structure 7 FY 2022 FY 2021 ∆ Consolidated Adjusted EBITDA $676 $567 $109 Working capital(2) (244) 12 (256) Cash tax (106) (98) (8) Cash interest (33) (38) 5 Transaction costs(3) (3) (1) (2) Other (15) 10 (25) Consolidated cash flow from operations $275 $452 ($177) Capital
Slide 8: Fiscal Year 2023 Guidance
Fiscal Year 2023 Guidance 8 Key Metric FY 2022 FY 2023 Y-o-Y Change Net Sales (in Millions) $2,769 $3,100 - $3,200 Up 12% to 16% Adj. EBITDA (in Millions) $676 $800 - $820 Up 18% to 21% Adj. EBITDA Margin 24.4% 25.6% - 25.8% +120 to +140 basis points Fiscal 2023 Expectations
Slide 9: Q&A
Q&A
Slide 10: Appendix
Appendix /IBDS
Slide 11: Fiscal 2022 Financial Performance
Fiscal 2022 Financial Performance 11 24.4% 28.6% FY22 FY21 $2,769 $1,983 FY22 FY21 (420) bps (USD, in millions)+39.7% Domestic Markets + Construction +44% + Non-Residential +43% + Residential +46% + Infrastructure +35% + Agriculture +8% Revenue Performance By Business + ADS Legacy +40% + Pipe +46% +
Slide 12: Reconciliations
Reconciliations 12 (In thousands) Net Sales Intersegment Net Sales Net Sales from External Customers Net Sales Intersegment Net Sales Net Sales from External Customers Pipe $ 396,690 $ (7,911) $ 388,779 $ 239,206 $ (1,487) $ 237,719 Infiltrator Water Technologies 130,576 (23,643) 106,933 91,265 (14,
Slide 13: Reconciliations
Reconciliations 13 (Amounts in thousands) 2022 2021 2022 2021 Segment adjusted gross profit Pipe 94,501 53,100 353,182 322,846 Infiltrator Water Technologies 53,030 41,612 231,825 191,163 International 9,127 10,945 58,822 49,921 Allied Products & Other 80,028 49,046 284,091 225,052 Intersegment Elim
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