Velan Inc. · TSX:VLN
Velan — Q1 2024 Earnings Presentation
14 slides from Velan's earnings presentation, Jul 7, 2023
Slide 1: Q1-F2024 Investor Presentation
Q1-F2024 Investor Presentation July 7th, 2023
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, 2023. 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 F2024 Financial Results Investor Call. 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.facebook.com/VelanInc @VelanInc www.link
Slide 4: Our markets
Our markets Process & Navy Nuclear Power Severe MRO & Oil & gas Service After-Market
Slide 5: Key Highlights – Q1
Key Highlights – Q1 $67.7 m sales, a decrease of $7.3 m or -9.8% vs Q1-F2023. Sales ($ m) 411 $(3.8) m EBITDA2 is $0.9 m lower than last year. The decrease is primarily attributable to a lower gross profit, partially offset by a 372 370 decrease in administration costs. 125 Q4 114 302 115 $8.3
Slide 6: Backlog
Backlog1 Backlog1 ($ m) $490.5 m backlog1. 700 $335.8 m shippable in the next 12 months. 600 1.36 book-to-bill ratio1 for the quarter driven by strong 500 bookings and partly caused by an increase in finished goods not yet shipped. 400 > 1 year 300 Within 12 months backlog1 comparable to pre
Slide 7: Sales – Decrease in sales in Italy and France partially offset by increased volume in North America
Sales – Decrease in sales in Italy and France partially offset by increased volume in North America Q1 F2023 geographical sales* (in millions) Q1 F2024 geographical sales* (in millions) Other Other 8,5 7,0 North America Italy 9,6 31,4 Italy 17,6 35,2 15,9 North America France 17,5 France The decre
Slide 8: EBITDA evolution
EBITDA1 evolution Historic ($ m) Q1 Bridge ($ m) 18 -0,9 16 14 12 Restructuring and 10 transformation 2 income 8 -2,9 6 1,8 0,2 4 -3,8 2 1,6 0 4,3 -2 -4 Adj. to asbestos 1,6 provision -56 2020 2021 2022 2023 2024 Q1 F2023 Volume Mix FX Administration Other Q1 F2024 2019 costs Q1 F2024 gross profit
Slide 9: Net cash analysis
Net cash analysis Free Cash Flow2 ($ m) Net cash bridge ($ m) 9,6 0,9 0,4 13,5 0,6 31,2 2,6 9,6 1,1 58,6 50,3 -3,8 2 2 1 AR Inv Other Interest, tax Capex End of FCF Repay. LTD Others End of EBITDA 3 FCF WC mov. and others 4 Q4 F2023 Q1 F2024 Free Cash Flow generation driven primarily by increased
Slide 10: Closing Comments Q1 F2024
Closing Comments Q1 F2024 The start to fiscal 2024 was impacted by temporary shipment delays, but we remain confident because : • Our backlog1 has improved during the quarter, highlighted by similar bookings1 than last year. • Our cash base increased during the quarter thanks to consistent focus o
Slide 11: Presenters
Presenters Thank you for your attendance to our Q1 F2024 Financial Results Investor Call. 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.facebook.com/VelanInc @VelanInc www.link
Slide 12: Non-IFRS and Supplementary Financial Measures
NON-IFRS AND SUPPLEMENTARY FINANCIAL MEASURES Adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA") 2019 2020 2021 2022 2023 2024 (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 (2.4) (0.2) 1.5 (5.8) 1.4 (0.8) (11.1) (1
Slide 13: Our Board of directors
Our Board of directors 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 James A. Mannebach Chair
Slide 14: Q1-F2024 Investor Presentation
Q1-F2024 Investor Presentation July 7th, 2023