Velan Inc. · TSX:VLN
Velan — Q1 2023 Earnings Presentation
14 slides from Velan's earnings presentation, Jul 8, 2022
Slide 1: Q1-F2023 Investor Presentation
Q1-F2023 Investor Presentation July 8th, 2022
Slide 2: Disclaimer
Disclaimer The following investor presentation provides an analysis of the consolidated operating results and financial position of Velan Inc. (“the Company”) for the quarter ended May 31, 2022. This investor presentation should be read in conjunction with the Company’s audited consolidated financia
Slide 3: Presenters
Presenters Thank you for your attendance to our Q1 FY23 Financial Results Investor Call. We will be happy to take questions at the end of the presentation. Bruno Carbonaro Rishi Sharma CEO and President Chief Financial Officer +1 438 817-7593 +1 438 817-4430 bruno.carbonaro@velan.com rishi.sharma@ve
Slide 4: Our markets
Our markets Process & Navy Nuclear Power Severe MRO & Oil & gas Service After-Market
Slide 5: Our Board of directors (as of July 7, 2022 AGM)
Our Board of directors (as of July 7, 2022 AGM) Suzanne Blanchet Bruno Carbonaro Dahra Granovsky Edward Kernaghan La Prairie, Québec, Canada Montréal, Québec, Canada Toronto, Ontario, Canada Toronto, Ontario, Canada Director since: 2021 Director since: 2022 Director since: 2019 Director since: 2021
Slide 6: Key Highlights – Q1
Key Highlights – Q1 $75.0 m sales +0.6% vs Q1-F2022 Sales ($ m) 411 $(2.9) m EBITDA2 is lower than the $(0.9) m achieved last 367 372 year. The main driver is the higher administration costs 125 driven by increases in outgoing freight costs Q4 105 114 302 $7.4 m net loss1 for the quarter 86 11
Slide 7: Backlog
Backlog1 Backlog1 ($ m) $506.0 m backlog1 700 $339.2 m shippable in the next 12 months 600 1.25 book-to-bill ratio1 500 Within 12 months backlog1 increased compared to year- 400 > 1 year end due to delays in the delivery of some orders 300 The backlog1 was negatively impacted by the weaken
Slide 8: Sales – Comparable sales from last year despite phasing of deliveries
Sales – Comparable sales from last year despite phasing of deliveries in North America from Q1 to the rest of the fiscal year Q1 2022 geographical sales* (in millions) Q1 2023 geographical sales* (in millions) Other Other 6,5 8,5 Italy 8,4 31,4 Italy 17,6 38,4 21,2 North America France North America
Slide 9: EBITDA evolution
EBITDA1 evolution Historic ($ m) Q1 Bridge ($ m) 18 -2,0 16 14 0,1 12 Restructuring 0,5 and 1,0 10 transformation income2 -0,9 8 6 4 2 1,6 0 -2 -4 -6 -2,9 2018 2019 2020 2021 2022 2023 Q1 2022 Margin Volume Federal Administration Q1 2023 subsidies costs 1 Non-IFRS and supplementary financial measure
Slide 10: Net cash analysis
Net cash analysis Free Cash Flow2 ($ m) Net cash bridge ($ m) 2,2 4,0 1,0 1,8 1,2 10,2 Strong net cash of $47.7m 14,1 despite negative FCF2 for 53,5 the quarter 47,7 Net cash + unused credit facilities of $164.9m at the end of the quarter 2,0 2,1 -2,9 0,9 2 -4,0 End of FCF Increase Decrease FX ST En
Slide 11: Closing Comments FY23 Q1
Closing Comments FY23 Q1 Execution remains our top priority, and we continue to work closely with all stakeholders to ensure we improve and meet our on time delivery We remain confident in our ability to deliver a strong Q2 and FY23 We continue to diligently navigate through the volatility of
Slide 12: Presenters
Presenters Thank you for your attendance to our Q1 FY23 Financial Results Investor Call. We are happy to answer any questions. Bruno Carbonaro Rishi Sharma CEO and President Chief Financial Officer +1 438 817-7593 +1 438 817-4430 bruno.carbonaro@velan.com rishi.sharma@velan.com www.velan.com www.fac
Slide 13: NON-IFRS AND SUPPLEMENTARY FINANCIAL MEASURES
NON-IFRS AND SUPPLEMENTARY FINANCIAL MEASURES Earnings before interest, taxes, depreciation and amortization ("EBITDA") 2018 2019 2020 2021 2022 2023 (in millions of USD) Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Net income (loss)1 (5.6) 0.3 (8.2) (3.7) (2.4) (0.2) 1.5 (5.8) 1.4 (0
Slide 14: Q1-F2023 Investor Presentation
Q1-F2023 Investor Presentation July 8th, 2022