Slide 1: Q1 2022 Earnings Release Presentation
Q1 2022 Earnings Release Presentation
Slide 2: Forward-Looking Information
Q1 2022 Forward-Looking Information This presentation contains forward-looking information within the meaning of applicable securities laws. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "predict", "estimate" or similar terminology are used to identify forward-loo
Slide 3: Q1 2022 Highlights
Q1 2022 Highlights LESS VOLATILE INFRASTRUCTURE & INDUSTRIAL Q1 Adjusted EBITDA above expectations REVENUE EXPANDING Year-over-Year growth in Composite and Revenue Automotive and Industrial segments 100% 80% Revenue contribution from businesses serving 60% infrastructure & industrial end markets 40%
Slide 4: Composite Systems
Q1 2022 Composite Systems 50% increase in revenue vs. Q1-2021 to $106 million Rising demand for FlexPipe products in North America Strong order growth for larger diameter FlexPipe Continued robust tank demand with stabilizing resin supply Bookings exceed sales to deliver new record backlog Q1'22 EAR
Slide 5: Automotive and Industrial
Q1 2022 Automotive and Industrial Revenue of $78 million marks a 23% increase vs. Q1-2021 and new segment record 70% of revenue from industrial sources, with the remaining 30% coming from automotive end markets Industrial demand offsetting automotive production impacts from supply chain shortages, C
Slide 6: Pipeline and Pipe Services
Q1 2022 Pipeline and Pipe Services Cyclic low in pipe coating activity drives 42% decrease in revenue vs. Q1-2021 As expected, Q1 will be lowest quarter of 2022 Backlog increased with multiple new projects awarded Segment activity will rise throughout 2022 as multi-year offshore pipeline constructio
Slide 7: Backlog, Bid & Budgetary
Q1 2022 Backlog, Bid & Budgetary Q1 2022 Q4 2021 $102 Total Backlog & Bid rising as offshore pipeline $154 construction project planning rises < 12 months $589 < 12 months Budgetary strength continues to support expectation for $702 > 12 months > 12 months multi-year offshore pipeline construction u
Slide 8: Financial Results
Q1 2022 Financial Results Composite Systems QUARTER OVER PRIOR-YEAR QUARTER HIGHLIGHTS In millions Q1 2022 Q1 2021 Change Revenue 106.4 71.1 50% • Consolidated Revenue of $268M and consolidated Adj. EBITDA Adj. EBITDA 14.7 8.5 72% of $20.0M Adj. EBITDA • Composite Systems Adjusted EBITDA rises 72%,
Slide 9: Cashflow and Debt
Q1 2022 Cashflow and Debt Consolidated Cash & Debt Net Debt $500 $437 $421 $410 $400 $291 $307 $281 $300 $266 $246 $222 $200 -44% $100 $0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2020 2021 2022 • Working Capital investment of $22.7 million, excluding restructuring liabilities • Repaid $153.5 million since start o
Slide 10: CAPEX
Q1 2022 CAPEX CAPEX ($CAD MM) $100 $89 $90 $80 $76 • Capex of $10 million in Q1 $32 $70 • Growth capital spending of $60 $42 $3 million primarily related to $50 $45 investments in industrial and infrastructure $41 $40 related end markets $30 $26 $24 $25 • Capital spending for full year 2022 $57 $23
Slide 11: 2022 Outlook
2022 Outlook MACRO-ECONOMIC OPERATIONAL • Continuing expansion of global • Tight cost control in face of investment in communications, potential market volatility transportation, low emissions • 2022 will be substantially back- energy and water management half weighted infrastructure • Expecting FY
Slide 12: A Global Materials Technology Company Positioned for Growth
A Global Materials Technology Company Positioned for Growth Global material sciences Portfolio simplification & Solid backlog and company with leading evolution prioritizing established customer base market positions across infrastructure and industrial comprised of investment all operating segments