Slide 1: First Quarter 2024 Conference Call Presentation
1 Broadwind | Investor Presentation 2023 First Quarter 2024 Conference Call Presentation May 14, 2024
Slide 2: Safe Harbor Statement
2 Broadwind | Investor Presentation 2023 SAFE HARBOR STATEMENT This document contains “forward looking statements” — that is, statements related to future, not past, events — as defined in Section 21 E of the Securities Exchange Act of 1934 , as amended, that reflect our current expectations regardi
Slide 3: 1Q24 Performance Summary
1Q24 PERFORMANCE SUMMARY
Slide 4: Performance Update: Strategic Progress Points
4 Broadwind | Investor Presentation 2023 PERFORMANCE UPDATE Strategic Progress Points As of May 2024 Higher quality of earnings. Improved margin realization, net income and Adjusted EBITDA, despite demand pause within core wind markets Improved margin realization. Adjusted EBITDA margins +270 bps y/
Slide 5: Consolidated Financial Performance
5 Broadwind | Investor Presentation 2023 Year - over - year organic growth in margin realization and profitability CONSOLIDATED FINANCIAL PERFORMANCE Total Revenue ($MM) Gross Profit ($MM) Adjusted EBITDA ($MM) GAAP Net Income ($MM) Solid commercial execution within non - wind businesses; targeted c
Slide 6: Heavy Fabrications Segment
6 Broadwind | Investor Presentation 2023 First Quarter 2024 HEAVY FABRICATIONS SEGMENT Solid operational execution supports improved margin realization Higher margin realization despite lower revenue generation, given transitional pause in wind tower demand Segment EBITDA margin increased 200 bps y/
Slide 7: Gearing Segment
7 Broadwind | Investor Presentation 2023 First Quarter 2024 GEARING SEGMENT Solid bookings activity sets a positive tone as we move into 2H24 Book - to - bill of 1.25x, supported by increased demand within the mining and industrial end - markets Gearing orders increased by nearly 190% sequentially i
Slide 8: Industrial Solutions Segment
8 Broadwind | Investor Presentation 2023 First Quarter 2024 INDUSTRIAL SOLUTIONS SEGMENT Continue to see demand acceleration within the natural gas turbine market, building on the market recovery evidenced throughout 2022 - 2023 Strong organic revenue growth , supported by strong demand within NGT a
Slide 9: Stable liquidity profile
9 Broadwind | Investor Presentation 2023 (1) On August 4, 2022, Broadwind entered into a $35.0 million Senior Secured Revolving Credit Facility (the “Credit Facility”), including an optional $10.0 mi ll ion accordion feature, and a $7.6 million Senior Secured Term Loan (the “Term Loan). The Term Loa
Slide 10: Second Quarter 2024 Financial Guidance
10 Broadwind | Investor Presentation 2023 Introducing Second Quarter 2024 revenue and Adjusted EBITDA guidance Guidance supported by targeted commercial growth within high - value, growth - oriented fabrications markets, together with a targeted focus on asset optimization and operational discipline
Slide 11: Appendix
APPENDIX
Slide 12: Corporate Overview
12 Broadwind | Investor Presentation 2023 CORPORATE OVERVIEW We support the world’s energy transition as a leading independent producer of wind towers, gearing, custom fabrications, clean fuel processing systems and supply chain solutions Broadwind is a precision manufacturer of technologically adva
Slide 13: What we do
13 Broadwind | Investor Presentation 2023 What we do Precision manufacturing within wind sector and other diverse end - markets We provide large complex and precision fabrications to customers in a broad range of industrial markets, as well as proprietary clean fuel processing systems. Key products
Slide 14: Inflation Reduction Act Impact Benefit
14 Broadwind | Investor Presentation 2023 INFLATION REDUCTION ACT IMPACT BENEFIT At full utilization, IRA could provide up to ~$30 million in incremental annual gross profit Broadwind is prepared to leverage the benefits of the IRA to create shareholder value The IRA serves to materially enhance tow
Slide 15: Passage of IRA Supports Multi-Year Investment in Wind
15 Broadwind | Investor Presentation 2023 PASSAGE OF IRA SUPPORTS MULTI - YEAR INVESTMENT IN WIND Inflation Reduction Act of 2022 supports multi - decade decarbonization of domestic energy grid Broadwind is uniquely positioned to take advantage of the increased development activity driven by the IRA
Slide 16: Appendix: Balance Sheet
16 Broadwind | Investor Presentation 2023 APPENDIX Balance Sheet
Slide 17: Appendix: Income Statement
17 Broadwind | Investor Presentation 2023 APPENDIX Income Statement
Slide 18: Appendix: Statement of Cash Flows
18 Broadwind | Investor Presentation 2023 APPENDIX Statement of Cash Flows
Slide 19: GAAP to Non-GAAP Reconciliation
19 Broadwind | Investor Presentation 2023 APPENDIX GAAP to Non - GAAP Reconciliation Consolidated 2024 2023 Net Income……………..…………...……………………………………… 1,510$ 769$ Interest Expense…………………….……………………………………. 532 488 Income Tax Provision…………………………….....…………………… 39 23 Depreciation and Amortization………………..………
Slide 20: Appendix: Segment-Level Data
20 Broadwind | Investor Presentation 2023 APPENDIX Segment - Level Data
Slide 21: IR Contact
21 Broadwind | Investor Presentation 2023 Please contact our investor relations team at BWEN@val-adv.com IR CONTACT