Slide 1: Q4 2015 and Fiscal 2015 results 2016 Outlook
Q4 2015 and Fiscal 2015 results 2016 Outlook March 15, 2016
Slide 2: Management Succession Plan
2 MANAGEMENT SUCCESSION PLAN Pierre Shoiry to transition to Vice Chairman Alexandre L’Heureux to become President & Chief Executive Officer Paul Dollin to continue as COO with increased responsibilities Search for a new CFO to start immediately Transition will be implemented once a new CFO
Slide 3: 2015 Strategic Plan Scorecard
3 2015 STRATEGIC PLAN SCORECARD Measure 2015 Target range Result Net revenues* Between $4,100 million and $4,600 million Adjusted EBITDA* Between $390 million and $430 million Tax rate Approximately 25% Between 20% to 29%, the first quarter Seasonality and adjusted EBITDA* fluctuations being t
Slide 4: Q4 2015 and Fiscal 2015 Performance
4 Q4 2015 AND FISCAL 2015 PERFORMANCE Strong global organic growth and results Improvement of underlying operations margins Acquisitions in Canada , the Nordics and the United States Size of the firm doubled
Slide 5: Some of Our Recognitions
5 SOME OF OUR RECOGNITIONS Best services engineer Engineer of the year Sustainability Initiative of the Year
Slide 6: Regional Breakdown and Organic Growth
REGIONAL BREAKDOWN AND ORGANIC GROWTH REGIONAL BREAKDOWN (% TOTAL NET REVENUES) APAC Canada 14% 18% ANNUAL REGION ORGANIC GROWTH Canada (9.0%) Americas 5.9% EMEIA 10.7% APAC 3.6% EMEIA 38% TOTAL 3.2% Americas 30% Without foreign currency fluctuation
Slide 7: Update on Parsons Brinckerhoff Integration
7 UPDATE ON PARSONS BRINCKERHOFF INTEGRATION Enhanced our technical skills Strengthened our position Delivered cost synergies of US$40M Improved operating margins in most of the legacy Parsons Brinckerhoff regions Delivered EPS accretion Maintained debt/adjusted EBITDA ratio within 1.5-2
Slide 8: Revenues and Net Revenues
8 REVENUES AND NET REVENUES Revenues Net Revenues 6,064.0 4,486.8 +108.9% +90.9% 2,349.9 2,902.4 +45.3% +43.3% 1,248.2 858.8 1,158.1 1,158.1 Quarter Year Quarter Year 2014 2015
Slide 9: Adjusted EBITDA and Adjusted EBITDA Margin
9 ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN 441.5 +74.2% 253.5 +37.6% 124.0 90.1 10.5% 9.9% 10.8% 9.8% Quarter Year 2014 2015
Slide 10: Adjusted Net Earnings and Adjusted Net Earnings per Share
10 ADJUSTED NET EARNINGS AND ADJUSTED NET EARNINGS PER SHARE Adjusted Adjusted Net Earnings Net Earnings per share 172.8 +46.4% 118.0 +1.6% 41.0 1.84 1.87 32.4 0.52 0.33 Quarter Year Quarter Year 2014 2015
Slide 11: Net Earnings Attributable to Shareholders and per Share
11 NET EARNINGS ATTRIBUTABLE TO SHAREHOLDERS AND NET EARNINGS ATTRIBUTABLE TO SHAREHOLDERS PER SHARE Net Earnings Net Earnings Attributable Attributable to Shareholders to Shareholders 188.8 Per share +200.6% 109.2% 62.8 2.05 0.98 14.7 0.15 Quarter Year Quarter Year (0.10) (7.9) 2014 2015
Slide 12: Backlog
12 BACKLOG 9.6 months of revenues 5,199.7 4,674.4 4,562.0 4,891.6 Q4 2015 COMPARED TO END OF YEAR 2014 3,935.1 (in millions of dollars, except percentages) Total Hard Backlog Q4 2015 $5,199.7 Hard Backlog End of 2014 $3,935.1 Net change ($) $1,264.6 Organic Growth 9.4% Acquisition Growth 12.9% Forei
Slide 13: Good Balance Sheet Management with Stable DSO
13 GOOD BALANCE SHEET MANAGEMENT WITH STABLE DSO 87 85 85 77 76 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015
Slide 14: Financial Position and Net Debt/TTM EBITDA Ratio
14 FINANCIAL POSITION AND NET DEBT/TTM EBITDA RATIO (in millions of dollars) Q4 2015 Financial liabilities $1,012.9 Less: Cash and ($204.1) cash equivalents Net debt $808.8 TTM EBITDA $441.5 Net debt / TTM EBITDA 1.8x Net debt /TTM EBITDA, iincorporating full 1.7x 12-month EBITDA for all acquisition
Slide 15: Update on Cost Synergies
15 UPDATE ON COST SYNERGIES Amounts spent to date US$ 40M • Workforce reduction • Property-related costs Additional recurring annual US$ 10M savings targeted realized by the end of 2016 (included in 2016 outlook)
Slide 16: Dividend and Payout Ratio
16 DIVIDEND AND PAYOUT RATIO Q4 2015 EPS* $0.33 Funds from operations per share $0.79 Dividend declared $0.375 Dividend paid net of DRIP $0.18 PAYOUT RATIOS - Dividend declared on EPS* 114% - Dividend paid net of DRIP on EPS* 23% *Excluding acquisition and reorganization costs
Slide 17: 2016 Target Range
2016 TARGET RANGE Net revenues* Between $4,600 million and $5,100 million Adjusted EBITDA* range Between $465 million and $515 million Q1: 16% to 18%1 ) of net revenues Seasonality and adjusted EBITDA* Q2: 24% to 26% of net revenues fluctuations Q3: 31% to 33% of net revenues Q4: 28% to 30% of net r
Slide 18: Questions and Answers
QUESTIONS AND ANSWERS PARSONS g=sWSP | BRINCKERHOFF