Finning International Inc. · TSX:FTT
Finning International — Q1 2024 Earnings Presentation
11 slides from Finning International's earnings presentation, May 7, 2024
Slide 1: Q1 2024 Results
Q1 2024 Results Kevin Parkes Greg Palaschuk President and CEO EVP and CFO May 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: Building Momentum by Diligently Executing our Strategy
Building Momentum by Diligently Executing our Strategy Drive Product Support Full Cycle Resilience Sustainable Growth Product Support SG&A as % of Net Revenue (1) Used Equipment Power Systems Revenue Q1 2024 Revenue Revenue 1% CAGR 12% 17.7% 48% 37% Q1 2024 vs Q1 2023 Q1 2022 to Q1 2024 Down 130 bps
Slide 3: Q1 2024 Results
Q1 2024 Results vs Q1 2023 Q1 2024 Summary Net Revenue Healthy customer activity in mining and power systems $2.3B 9% Important wins in copper mining, oil sands, and data centre markets Diligent execution of strategic priorities helping offset the impact of lower product support revenue Arge
Slide 4: Q1 2024 Net Revenue
Q1 2024 Net Revenue All comparisons are to Q1 2023 results unless indicated otherwise Net Revenue by Line of Business Q1 2024 Revenue Highlights $ millions New equipment sales up 25% led by backlog deliveries and strong demand in mining and power systems 2,332 Used equipment sales up 48%, higher
Slide 5: Q1 2024 EBIT
Q1 2024 EBIT EBIT (1) All comparisons are to Adjusted Q1 2023 results unless indicated otherwise $ millions Q1 2024 EBIT Highlights 216 Gross profit as a % of net revenue (2) down 260 bps (8) 202 primarily driven by the shift in revenue mix to new and (5) (1) used equipment sales Lower margins i
Slide 6: Q1 2024 Results – Canada
Q1 2024 Results – Canada Net Revenue Adjusted EBIT Adjusted ROIC $ Millions $ Millions, as a % of Net Revenue 4 Quarter Average 20.0% 24.0% 1,254 1,258 11.3% 19.6% 9.7% 8.9% 19.0% 1,150 17.6% 180 18.0% 10.0% 130 122 112 0.0% 120 12.0% -10.0% 6.0% 60 -20.0% 0 -30.0% 0.0% Q1 2023 Q4 2023 Q1 2024 Q1 20
Slide 7: Q1 2024 Results – South America
Q1 2024 Results – South America Net Revenue Adjusted EBIT Adjusted ROIC $ Millions $ Millions, as a % of Net Revenue 4 Quarter Average 1000 12.6% 20.0% 27.6% 27.4% 11.5% 11.0% 24.6% 805 767 800 129 707 10.0% 102 81 84 0.0% 600 86 -10.0% 400 43 -20.0% 200 0 -30.0% Q1 2023 Q4 2023 Q1 2024 Q1 2023 Q4 2
Slide 8: Q1 2024 Results – UK & Ireland
Q1 2024 Results – UK & Ireland Net Revenue Adjusted EBIT Adjusted ROIC $ Millions $ Millions, as a % of Net Revenue 4 Quarter Average 344 5.7% 24.0% 4.5% 10.0% 307 2.7% 287 17.4% 5.0% 36 0.0% 16.0% 24 -5.0% 12.3% 11.5% 17 -10.0% 14 8.0% -15.0% 12 9 -20.0% -25.0% 0 -30.0% 0.0% Q1 2023 Q4 2023 Q1 2024
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 Q2 2024 August 6, 2024 August 7, 2024 10:00 AM Q3 2024 November 12, 2024 November 13, 2024 10:00 AM Q4 2024 February 4, 2025 February
Finning International — Q1 2024 Earnings Presentation on 6ix