Slide 1: Second Quarter 2024 Earnings Presentation
Second Quarter 2024 Earnings Presentation August 8, 2024
Slide 2: Forward-Looking Statements and Non-IFRS Financial Measures
Forward-Looking Statements and Non-IFRS Financial Measures Forward-Looking Statements This presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws. Such forward-looking information includes, but is not limited to, information with respect to MDA
Slide 3: Why Invest In MDA Space?
Why Invest In MDA Space? Established Industry Leader with a Attractive Fundamentals for Proven Track Record and Strong Long-term Value Creation Competitive Position Growing backlog, strong profitability and healthy balance sheet More than 55 years of innovation in space Strong customer relationships
Slide 4: Key Messages
Key Messages SECOND QUARTER 2024 ▪ Record backlog of $4.6B at quarter-end, up 318% YoY ▪ Strong top line growth with revenues of $242.0M, up 23% YoY driven by execution on our backlog ▪ Solid profitability with adjusted EBITDA(1) of $48.7M (up 21% YoY), and adjusted EBITDA margin(1) of 20.1% in line
Slide 5: Key Performance Indicators
Key Performance Indicators Backlog LTM Revenues $4,596M $861M $756M $1,098M June 30, 2023 June 30, 2024 June 30, 2023 June 30, 2024 LTM Adjusted EBITDA (1) LTM Adjusted Net Income (1) +5% $168M $176M Adj. EBITDA Adj. EBITDA $74M $88M Margin Margin 22.2% 20.4% June 30, 2023 June 30, 2024 June 30, 202
Slide 6: Second Quarter 2024 Results
Second Quarter 2024 Results ($M, except per share figures) Q2 2024 Q2 2023 YoY Change ($) YoY Change (%) Revenues $242.0 $196.0 $46.0 23% Gross Profit 66.2 61.3 4.9 8% Gross margin 27.4% 31.3% (1) Adjusted EBITDA 48.7 40.4 8.3 21% Adjusted EBITDA margin (1) 20.1% 20.6% Adjusted Net Income (1) 23.4 2
Slide 7: Order Bookings & Backlog
Order Bookings & Backlog LTM Order Bookings (1) Backlog $4,359M $4,596M $2,895M $3,312M $3,069M $3,097M $2,452M $2,526M $1,380M $1,521M $1,405M $1,378M $1,136M $1,155M $1,232M $1,098M $430M $333M Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2
Slide 8: Cash Generation & Financial Position
Cash Generation & Financial Position Operating Cash Flow Capital Expenditures Free Cash Flow (1) Maintenance Capex 2023 FCF $86M Maintenance Capex 2024 $79M FCF excluding Growth $163M $174M Capex $143M $149M $110M $46M $95M $39M $79M $85M $37M $39M $11M $2M $6M $6M -$7M -$2M Q2-23 Q2-24 YTD 2023 YTD
Slide 9: 2024 Financial Outlook
2024 Financial Outlook 2024 Financial Outlook 2024 Financial Outlook (August 8, 2024) (May 9, 2024) Revenue $1,020 - $1,060M $950 - $1,050M YoY Growth at mid-point ~30% ~25% Adjusted EBITDA $200 - $210M $190 - $210M Adjusted EBITDA Margin ~19% - 20% ~19% - 20% Capital Expenditures (1) $200 - $220M $
Slide 10: Appendix
APPENDIX
Slide 11: Appendix – Reconciliation of Non-IFRS Measures
Appendix – Reconciliation of Non-IFRS Measures ($M) Q2-24 Q2-23 YTD Q2-24 YTD Q2-23 Net income $11.0 $9.9 $24.8 $26.0 Depreciation and amortization of 10.9 7.0 21.4 13.6 assets Amortization of intangible assets 11.6 11.0 23.9 23.8 related to business combination Income tax expense 3.5 4.9 9.2 13.0 F
Slide 12: Appendix – Reconciliation of Non-IFRS Measures
Appendix – Reconciliation of Non-IFRS Measures ($M, except per share figures) Q2-24 Q2-23 YTD Q2-24 YTD Q2-23 Net income $11.0 $9.9 $24.8 $26.0 Amortization of intangible assets related to 11.6 11.0 23.9 23.8 business combination Gain on disposal of assets - - (5.8) - Unrealized (gain) loss on finan
Slide 13: Appendix – Reconciliation of Non-IFRS Measures
Appendix – Reconciliation of Non-IFRS Measures ($M) Q2-24 Q1-24 Q4-23 Q3-23 Q2-23 Q1-23 Q4-22 Q3-22 Q2-22 Opening Backlog $3,312.2 $3,097.0 $3,068.7 $1,093.8 $1,232.4 $1,378.2 $1,405.1 $1,520.8 $1,516.8 Revenue (242.0) (209.1) (205.0) (204.7) (196.0) (201.9) (186.1) (172.0) (154.7) recognized Order
Slide 14: We'll Take You There
gQmoa SPACE We'll Take You There