Finning International Inc. · TSX:FTT
Finning International — Q4 2023 Earnings Presentation
11 slides from Finning International's earnings presentation, Feb 7, 2024
Slide 1: Q4 and Annual 2023 Results
Q4 and Annual 2023 Results Kevin Parkes Greg Palaschuk President and CEO EVP and CFO February 7, 2024 See slides 9 and 10 for important information on forward-looking information, currency, and specified financial measures, including non- GAAP financial measures
Slide 2: Executing our Strategy and Building on Strong 2023 Results
Executing our Strategy and Building on Strong 2023 Results Drive Product Support Full Cycle Resilience Sustainable Growth Product Support Adjusted ROIC (1) Adjusted EPS (1) Used Equipment Power Systems Revenue 2023 2023 Revenue Revenue 17% 20.0% $3.91 11% 31% 2023 vs 2022 Up 130 bps vs 2022 Up 20% v
Slide 3: Q4 2023 Results
Q4 2023 Results vs Q4 2022 Q4 2023 Summary Net Revenue Maintained solid operating margins and earnings capacity while managing $2.4B 1% through several challenges Significant items excluded from our Q4 2023 adjusted results $56 million foreign exchange loss in Argentina due to prolonged govern
Slide 4: Q4 2023 Net Revenue
Q4 2023 Net Revenue All comparisons are to Q4 2022 results unless indicated otherwise Net Revenue by Line of Business $ millions Q4 2023 Revenue Highlights Lower overall new equipment sales offset by increases in other lines of business 2,368 2,403 5 18 3 Used equipment sales up 48% to record le
Slide 5: Q4 2023 Adjusted EBIT
Q4 2023 Adjusted EBIT Adjusted EBIT All comparisons are to Q4 2022 results unless indicated otherwise $ millions Q4 2023 EBIT Highlights Gross profit as a % of net revenue (1) comparable to 232 Q4 2022 214 10 1 7 SG&A as a % of net revenue (1) down 60 bps to 17.0%, primarily due to lower LTIP ex
Slide 6: Q4 2023 Results – Canada
Q4 2023 Results – Canada Net Revenue Adjusted EBIT Adjusted ROIC $ Millions $ Millions, as a % of Net Revenue Adjusted, 4 Quarter Average 20.0% 24.0% 1,268 1,254 11.0% 10.8% 9.7% 19.9% 1,167 180 18.7% 19.0% 18.0% 10.0% 128 137 120 122 0.0% 12.0% -10.0% 6.0% 60 -20.0% 0 -30.0% 0.0% Q4 2022 Q3 2023 Q4
Slide 7: Q4 2023 Results – South America
Q4 2023 Results – South America Net Revenue Adjusted EBIT Adjusted ROIC $ Millions $ Millions, as a % of Net Revenue 4 Quarter Average 1000 12.6% 27.6% 27.6% 853 12.3% 20.0% 840 11.4% 24.5% 805 800 129 104 10.0% 96 102 0.0% 600 86 -10.0% 400 43 -20.0% 200 0 -30.0% Q4 2022 Q3 2023 Q4 2023 Q4 2022 Q3
Slide 8: Q4 2023 Results – UK & Ireland
Q4 2023 Results – UK & Ireland Net Revenue Adjusted EBIT Adjusted ROIC $ Millions $ Millions, as a % of Net Revenue 4 Quarter Average 361 344 5.9% 24.0% 4.4% 10.0% 316 2.7% 5.0% 17.0% 36 0.0% 16.0% 14.1% -5.0% 12.3% 19 24 16 -10.0% 8.0% -15.0% 12 9 -20.0% -25.0% 0 -30.0% 0.0% Q4 2022 Q3 2023 Q4 2023
Slide 9: Disclosures
Disclosures Forward-looking information This presentation includes “forward-looking information” (as defined in applicable Canadian securities legislation) that is based on expectations, estimates and projections that we believe are reasonable as of the date of this presentation, but may ultimately
Slide 10: Disclosures
Disclosures Currency Monetary amounts referred to in this presentation are in Canadian dollars unless noted otherwise. All variances and ratios in this presentation are based on the functional currency of each operation (Canada: CAD, South America: USD, UK & Ireland: GBP). These variances and ratios
Slide 11: 2024 Earnings Schedule
2024 Earnings Schedule All dates and times are preliminary and subject to change Release Date Investor Call Time Quarter Investor Call Date after market close Eastern Q1 2024 May 6, 2024 May 7, 2024 10:00 AM Q2 2024 August 6, 2024 August 7, 2024 10:00 AM Q3 2024 November 12, 2024 November 13, 2024 1
Finning International — Q4 2023 Earnings Presentation on 6ix