Gfl Environmental Inc · TSX:GFL
Gfl Environmental — Q1 2024 Earnings Presentation
10 slides from Gfl Environmental's earnings presentation, May 2, 2024
Slide 1: Q1 2024 Investor Review
Q1 2024 Investor Review May 2, 2024
Slide 2: Disclaimer
Disclaimer Unless otherwise indicated, all references in this presentation to “GFL”, “we”, “our”, “us”, the “Company” or similar terms refer to GFL Environmental Inc. and its consolidated subsidiaries. Forward-Looking Information This presentation includes certain “forward-looking statements” and “f
Slide 3: Q1 2024 Solid Waste Adjusted EBITDA Margin Bridge
Q1 2024 Solid Waste Adjusted EBITDA Margin(1) Bridge Underlying Margin Expansion Net Fuel 100 bps Commodities M&A 70 bps 10 bps (20 bps) 30.8% 29.2% Q12022 Q4 2023A Commodities Net Fuel M&A Price in Excess of Costs Q12023 Q4 2024A Solid Waste Solid Waste Adjusted EBITDA Adjusted EBITDA margin(1) mar
Slide 4: Environmental Services – Q1 Performance
Environmental Services – Q1 Performance Environmental Services Revenue Bridge – Q1 2024 vs Q1 2023 (C$ millions, unless otherwise noted) Q1 2023 Outsized Activity Growth (40) +10% ▪ Double-digit revenue growth when normalizing for outsized prior year activity ▪ Adjusted EBITDA margin(1) 70 bps ahead
Slide 5: Net Leverage – Continued Deleveraging in Fiscal 2024
Net Leverage(1) – Continued Deleveraging in Fiscal 2024 Normal course seasonality and Adjusted EBITDA(1)(2) FX impact growth and free cash 4.3x flow generation 4.1x Anticipated M&A & Incremental Growth Opportunities 3.65x – 3.85x(2) Q4-23A Q4 2023 Q1-24A Q1 2024 Organic 2024 M&A Q4-24E Q4 2023G Afte
Slide 6: Appendix
Appendix
Slide 7: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (C$ millions, unless otherwise noted) 1. Loss on foreign exchange: Consists of (i) non-cash gains and losses on foreign exchange and interest rate swaps entered into in connection with our debt instruments Three months ended and (ii) gains and losses attributable to fo
Slide 8: Adjusted Free Cash Flow Reconciliation
Adjusted Free Cash Flow Reconciliation (C$ millions, unless otherwise noted) 1. Transaction costs: Consists of acquisition, integration and other costs such as legal, consulting and other fees and expenses incurred in respect of acquisitions and Three months ended financing activities completed duri
Slide 9: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation (C$ and shares in millions, unless otherwise noted) 1. Amortization of intangible assets: This is a non-cash item and consists of the amortization of intangible assets such as customer lists, municipal contracts, non- Three months ended compete agreements, trade na
Slide 10: Definitions
Definitions “EBITDA” represents, for the applicable period, net income (loss) plus (a) interest and other finance costs, plus (b) depreciation and amortization of property and equipment, landfill assets and intangible assets, plus (less) (c) the provision (recovery) for income taxes, in each case to