Triton International Ltd. · NYSE:TRTN/PA
Triton International — Investor Presentation (August 2024)
15 slides from Triton International's investor presentation, August 2024
Slide 1: Investor Presentation
Investor Presentation February 2023 August 2024 1
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements Certain statements in this presentation, other than statements of historical facts, including statements regarding our strategy, future operations, future financial position, future revenues, future costs, prospects, plans and objectives of management are "forw
Slide 3: Brookfield Investment
Brookfield Investment INVESTMENT HIGHLIGHTS Brookfield Infrastructure • In September 2023, Brookfield Infrastructure and its affiliates acquired Triton International Limited (Triton) through a take-private transaction • Transaction consideration of $4.5 billion, along with preferred equity make-up 5
Slide 4: First Half of 2024 Overview
First Half of 2024 Overview • Outstanding performance through 1H24 • Market conditions inflected positively in January SUEZ CANAL IMPACT ON ASIA–EUROPE TRADE • Strong fleet and financial performance • Market inflection sparked by attacks on shipping lines in Red Sea • Container vessels rerouting fro
Slide 5: Key Operating Metrics
Key Operating Metrics Strong demand for dry containers has pushed fleet utilization near all-time highs coupled with a robust market for disposals TOTAL FLEET UTILIZATION (CEU)(1) NEW DRY CONTAINER PRICES 100% 4,500 4,000 95% 3,500 90% 3,000 2,500 85% 2,000 80% 1,500 1,000 75% 500 70% 0 (1) CEU is a
Slide 6: Financial Highlights
Financial Highlights Track record of strong cash flow generation and profitability through cycles, with robust performance during COVID LEASING REVENUE(1) CASH FLOW BEFORE CAPEX(1)(2)(3) 1,800 1,800 ~8% CAGR 1,600 1,680 1,600 1,607 1,612 1,400 1,534 1,544 1,516 1,400 1,479 1,464 1,200 1,308 1,200 1,
Slide 7: Strong Lease Portfolio
Strong Lease Portfolio Well structured long-term lease portfolio limits re-leasing risk and generates strong cash flow LEASE PORTFOLIO (NBV) SUSTAINED BY EXTENDED LEASE DURATIONS(2)(3) 100 3.8% Avg remaining lease term of ~7yrs(1) 4.2% 80 6.4% 60 Months 40 20 Average Remaining Lease Term (NBV) Inclu
Slide 8: Investment Grade Capital Structure
Investment Grade Capital Structure Conservatively capitalized balance sheet with strong cash flow coverage for upcoming maturities • Our balance sheet remains in great shape DIVERSIFIED AND CONSERVATIVE • Leverage in center of our target range CAPITAL STRUCTURE (1)(3)(4) • Credit metrics strong Seni
Slide 9: Summary
Summary • Container demand has been strong in 2024 • Triton is achieving outstanding operational and financial results • We continue to enhance Triton’s franchise and build our long-term cashflow engine • Triton’s balance sheet is in great shape • We look forward to continued engagement with investo
Slide 10: Appendix
FamROZ Parrog PammOs TRITON
Slide 11: Consolidated Statement of Adjusted Net Income
Consolidated Statement of Adjusted Net income(*) (In thousands) Q2 '24 Q1 '24 % Change Q2 '24 Q2 '23 % Change Total leasing revenues $ 378,989 $ 371,285 2.1% $ 378,989 $ 386,539 (2.0%) Depreciation and amortization 135,536 136,081 (0.4%) 135,536 146,880 (7.7%) Interest and debt expense 61,386 61,452
Slide 12: Non-GAAP Financial Information
Non-GAAP Financial Information We use the terms "Adjusted net income,“ “Adjusted return on equity,” “cash flow before capex”, and other non-GAAP financial measures throughout this presentation. These items are not presented in accordance with U.S. GAAP and should not be considered as alternatives to
Slide 13: Reconciliation: Adjusted Net Income and Adjusted Return on Equity
Reconciliation of Non-GAAP Financial Measures: Adjusted Net Income and Adjusted Return on Equity Q1 '23 Q2 '23 Q3 '23 Q4 '23 2023 Total Q1 '24 Q2 '24 Net income attributable to common shareholders $ 136,785 $ 128,734 $ 56,673 $ 99,785 $ 421,977 $ 112,515 $ 64,408 Add (subtract): - 46 Debt terminatio
Slide 14: Reconciliation: Cash Flow Before Capex (Excluding Certain Items)
Reconciliation of Non-GAAP Financial Measures: Cash Flow Before Capex (Excluding Certain Items) Cash Flow Before Capex (In thousands) LTM 12-'23 Q2 '24 Income (loss) before income taxes $ 528,553 $ 90,589 Add: Unrealized (gain) loss on derivative instruments, net (15) 1 Finance Lease Valuation Adjus
Slide 15: Endnotes
Endnotes Slide 3 1. As of March 31, 2024. 2. As of March 31, 2024. Totals may not add due to rounding. Assets under management (“AUM”) refers to the total fair value of assets managed by Brookfield Corporation and/or Brookfield Asset Management Ltd. (collectively, “Brookfield”), calculated as follow
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