Exco Technologies Limited · TSX:XTC
Exco Technologies — Q1 2022 Earnings Presentation
16 slides from Exco Technologies's earnings presentation, Feb 2, 2022
Slide 1: Q1 F2022 Earnings Call
Q1 F2022 Earnings Call February 2, 2022
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains forward-looking information and forward-looking statements within the meaning of applicable securities laws. We use words such as "anticipate", "may", "will", "should", "expect", "believe", "estimate", “5-year target” and similar expressions to identif
Slide 3: Operations Review - Darren Kirk, CEO
Darren Kirk Chief Executive Officer Operations Review
Slide 4: Dividend
Dividend In February 2022 Dividend was increased 5% to an annualized rate of 42 cents per share 42.0 CAD Cents/ Share 10.5 F2011 F2012 F2013 F2014 F2015 F2016 F2017 F2018 F2019 F2020 F2021 F2022 EXCO TECHNOLOGIES LIMITED | 4
Slide 5: Q1 F2022 Operations Overview: Market Conditions
Q1 F2022 Operations Overview Key Highlights in the Quarter – Market Conditions/ Overview • Overall industry vehicle production down 15% in N.A and 26% in Europe vs prior year quarter (~20% overall) • Production constrained by chip shortage and general supply chain issues • Shortage has begun to ease
Slide 6: Operations Overview: Automotive Solutions
Q1 F2022 Operations Overview Key Highlights in the Quarter – Automotive Solutions • Segment revenue down 24% year over year (FX adjusted) • Modestly underperformed market conditions • Production volumes fell ~20% but our revenues were down slightly more • Negative vehicle and product mix • Inventory
Slide 7: Operations Overview: Casting and Extrusion
Q1 F2022 Operations Overview Key Highlights in the Quarter – Casting and Extrusion • Segment revenue up 4% year over year (FX adjusted) • High pressure die cast market weakened due to lower vehicle production • Reduced demand for large mould rebuild work and Castool consumable die-cast tooling • Exa
Slide 8: Financial Review - Matthew Posno, CFO
Matthew Posno Chief Financial Officer Financial Review
Slide 9: Q1 F2022 Financial Overview
Q1 F2022 Financial Overview Consolidated Results Versus Prior Year Period • Revenue of $101.0M; down $20.1M or 17% compared to $121.4M last year • FX movements reduced revenue by $3.5M, therefore FX adjusted revenue was down by 14% year over year • EBITDA of $9.3M; down 52% from $19.3M last year • C
Slide 10: Consolidated Revenue Reconciliation
Q1 F2022 Financial Overview Consolidated Revenue Reconciliation C$ Millions 121 (21) -- 101 Q1 F21 Automotive Solutions Casting & Extrusion Q1 F22 EXCO TECHNOLOGIES LIMITED | 10
Slide 11: Consolidated PTP Reconciliation
Q1 F2022 Financial Overview Consolidated PTP Reconciliation (Before Interest and Other Expense) C$ Millions 14.1 (8.2) (2.6) 0.6 3.8 Q1 F21 Automotive Solutions Casting & Extrusion Corporate Q1 F22 EXCO TECHNOLOGIES LIMITED | 11
Slide 12: Automotive Solutions Segment
Automotive Solutions Segment Segment Results declined due to lower production volumes C$ Millions C$ Millions Revenue Segment EBITDA Margin Segment EBITDA 80 20% 15 (27%) (49%) (62%) 60 15% 10 40 10% 5 20 5% 0 0% 0 Q1 F21 Q1 F22 Q1 F21 Q1 F22 Q1 F21 Q1 F22 EXCO TECHNOLOGIES LIMITED | 12
Slide 13: Casting & Extrusion Segment
Casting & Extrusion Segment Segment EBITDA declined due to mix and production volumes. C$ Millions C$ Millions Revenue Segment EBITDA Margin Segment EBITDA 60 20% (28%) 1% 10 15% (27%) 40 10% 5 20 5% 0 0% 0 Q1 F21 Q1 F22 Q1 F21 Q1 F22 Q1 F21 Q1 F22 EXCO TECHNOLOGIES LIMITED | 13
Slide 14: Financial Leverage & Liquidity
Financial Leverage & Liquidity Balance Sheet in a $11M Net Cash Position as at December 31, 2021 Exco C$11M Net Cash 40 • LTM Q1 Fiscal 2022 EBITDA of C$60M • C$50M committed revolver matures February 30 2023 Bank Indebtedness/ Other 20 • Balance sheet cash of $26M C$ Millions 10 26 Cash • Significa
Slide 15: Questions
Questions EXCO TECHNOLOGIES LIMITED | 15
Slide 16: Powering the EV
POWERING THE EV i aa Omri AA ic ecion