Mirion Technologies, Inc. · NYSE:MIR
Mirion Technologies — 2024 Jefferies Healthcare Conference
27 slides from Mirion Technologies's conference presentation, Jun 6, 2024
Slide 1: Jefferies Healthcare Conference
June 6, 2024 Jefferies Healthcare Conference
Slide 2: Disclaimer
2024 JEFFERIES HEALTHCARE CONFERENCE Disclaimer Forward-Looking Statements This presentation and the accompanying oral commentary (this “presentation”) contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate,”
Slide 3: Mirion Mission
2024 JEFFERIES HEALTHCARE CONFERENCE MIRION MISSION To harness our unrivaled Ensuring knowledge of ionizing radiation Advancing the Clean Energy Worker Health & Safety for the greater good of humanity Transition With safety at the core of our solutions, Mirion: • Enables safer production of nuclear
Slide 4: Strong Leadership Founded on Innovation & Scale
2024 JEFFERIES HEALTHCARE CONFERENCE Strong Leadership Founded on Innovation & Scale CREATED 130+ #1 POSITION IN 16 OF 19 700+ 2005 UNIQUE PATENTS1 PRODUCT CATEGORIES PRODUCTS OPERATIONS SPAN ACROSS 20-50 YEAR CUSTOMER2 350+ ENGINEERS 2,800 12 COUNTRIES RELATIONSHIPS EMPLOYEES & PHYSICISTS 4 1All da
Slide 5: Investment Thesis
2024 JEFFERIES HEALTHCARE CONFERENCE Investment Thesis Global industry innovation Delivers safety and compulsory Resilient business leader in ionizing radiation High visibility into long term products to blue chip customer model through varying safety supported by unmatched recurring revenue growth
Slide 6: Medical Segment Overview
2024 JEFFERIES HEALTHCARE CONFERENCE CY23 Medical Revenue1 Nuclear Medicine Medical Segment Overview 19% 25% $285 56% Radiation Therapy QA Dosimetry RADIATION THERAPY NUCLEAR MEDICINE OCCUPATIONAL QUALITY ASSURANCE DOSIMETRY Premium Category A Global Leader in Technology & Leadership Chosen Categori
Slide 7: Technologies Segment Overview
2024 JEFFERIES HEALTHCARE CONFERENCE CY23 Technologies Revenue1 Technologies Segment Overview Labs & Research 26% $516 58% 16% Nuclear Defense & Diversified D E F E N S E & D I V E R S I FI E D NUCLEAR POWER MILITARY DEFENSE CIVIL DEFENSE LABS & RESEARCH High Visibility to Underlying Long Standing D
Slide 8: Q1 Earnings Recap
2024 JEFFERIES HEALTHCARE CONFERENCE • Customer engagement strong across all end markets; Adjusted Order Decline of ~(1)% compared to Q1 2023 • Consolidated Q1 Organic Revenue Growth of +5.5%; Medical +0.6% and Technologies +8.4% Q1 Earnings • Adjusted EBITDA of $39.5M in Q1 2024, Adjusted EBITDA ma
Slide 9: Appendix
2024 JEFFERIES HEALTHCARE CONFERENCE Appendix 9
Slide 10: Illustrative Share Count Details After Warrant Conversions
2024 JEFFERIES HEALTHCARE CONFERENCE Illustrative Share Count Details After Warrant Conversions1 Share Description Outstanding Securities2 Notes Outstanding Shares of Class A Common Stock 199,985,333 ▪ Outstanding shares as of close of trading on the New York Stock Exchange (NYSE) March 31, 2024 (as
Slide 11: Significant Leverage to Key End Market Trends
2024 JEFFERIES HEALTHCARE CONFERENCE Significant Leverage to Key End Market Trends TECHNOLOGIES MEDICAL Higher Natural Consistent Stricter Rising Prevalence Growing Aging Global Gas Prices Replacement Environmental of Cancer and Install Base Population Cycle Regulations Treatments Desire for Energy
Slide 12: Medical Value-Added Solutions
2024 JEFFERIES HEALTHCARE CONFERENCE CY23 Mirion Revenue1 Medical Value-Added Solutions Technologies 64% $801 Diversified product portfolio in resilient end markets. 36% Medical Supported by aging population and growing global middle class. PRODUCT CATEGORIES KEY CUSTOMER GROUPS Cancer Diagnostics &
Slide 13: Technologies Value-Added Solutions
2024 JEFFERIES HEALTHCARE CONFERENCE CY23 Mirion Revenue1 Technologies Value-Added Solutions Technologies 64% $801 Technology leadership, rigorous regulatory requirements, and 36% Medical demanding design all contribute to high barriers of entry. PRODUCT CATEGORIES KEY CUSTOMER GROUPS Laboratory & S
Slide 14: Nuclear Power: An Essential Source of Green Energy
2024 JEFFERIES HEALTHCARE CONFERENCE Nuclear Power: An Essential Source of Green Energy Our View: The world cannot achieve carbon neutrality goals without wide proliferation of nuclear power Our Role: Mirion services all stages of a plant’s lifecycle and is technology-agnostic across nuclear OEMs; s
Slide 15: Record of Driving Value Through M&A
2024 JEFFERIES HEALTHCARE CONFERENCE Record of Driving Value Through M&A Select Transactions Completed Since 2016 AWST $1-$10M $1-$10M $10-$20M $1-$10M <$1M $25-$35M $200-$250M $10-$20M $1-$10M $30-$50M $90-$110M $16M $12M JULY NOV JULY AUG NOV APRIL SEPT DEC DEC OCT NOV AUG NOV 2016 2018 2019 2019
Slide 16: Broad Product Portfolio Addresses Attractive End Markets
2024 JEFFERIES HEALTHCARE CONFERENCE Broad Product Portfolio Addresses Attractive End Markets MARKET LEADERSHIP FRAGMENTED CATEGORY BU END MARKET(S) CATEGORY BU END MARKET Radiation Monitoring Systems Technologies Medical Imaging Medical Reactor Instrumentation & Controls Technologies Imaging System
Slide 17: ESG is Integrated into Mirion's Mission
2024 JEFFERIES HEALTHCARE CONFERENCE ESG is Integrated into Mirion’s Mission Mirion’s ESG Policies, Programs & Initiatives serve to support our mission of harnessing our unrivaled knowledge of ionizing radiation for the greater good of humanity. Environment Social Governance Provide a safer working
Slide 18: Committed to Responsible and Sustainable Operations
2024 JEFFERIES HEALTHCARE CONFERENCE Committed to Responsible We are in the early stages of our ESG and Sustainable Operations journey as a public company. We are committed to advancing our ESG initiatives and will rely on the input from global stakeholders and regulatory We recognize ESG as a funda
Slide 19: Non-GAAP Reconciliations
2024 JEFFERIES HEALTHCARE CONFERENCE Non-GAAP Reconciliations 19
Slide 20: Nine Quarter Segment Reconciliation
2024 JEFFERIES HEALTHCARE CONFERENCE Nine Quarter Segment Reconciliation Medical 20
Slide 21: Nine Quarter Segment Reconciliation
2024 JEFFERIES HEALTHCARE CONFERENCE Nine Quarter Segment Reconciliation Technologies 21
Slide 22: Nine Quarter Segment Reconciliation
2024 JEFFERIES HEALTHCARE CONFERENCE Nine Quarter Segment Reconciliation Corporate & Other 22
Slide 23: Nine Quarter Segment Reconciliation
2024 JEFFERIES HEALTHCARE CONFERENCE Nine Quarter Segment Reconciliation Consolidated 23
Slide 24: Non-GAAP Reconciliations
2024 JEFFERIES HEALTHCARE CONFERENCE Non-GAAP Reconciliations Consolidated – Income from Operations, Gross Profit & Adjusted EBITDA 24
Slide 25: Non-GAAP Reconciliations
2024 JEFFERIES HEALTHCARE CONFERENCE Non-GAAP Reconciliations Adjusted Earnings per Share 25
Slide 26: Non-GAAP Reconciliations
2024 JEFFERIES HEALTHCARE CONFERENCE Non-GAAP Reconciliations Adjusted Order Growth (Decline) a b a-b=c c/b=d Three Months Ended Three Months Ended ($ in millions) March 31, 2024 March 31, 2023 Variance ($) Variance (%) Total Orders $ 182.0 $ 184.0 $ (2.0) -1.1% 2 Adjustment for ec Acquisition (3.1)
Slide 27: Leverage, Liquidity and Adjusted Free Cash Flow
2024 JEFFERIES HEALTHCARE CONFERENCE Leverage, Liquidity and Adjusted Free Cash Flow ($ millions) 1Q23 1Q24 Net cash provided by operating activities $(2.7) $6.0 Purchases of PPE and badges (7.5) (12.8) Proceeds from derivative contracts 0 1.2 Cash used for non-operating expenses 3.0 1.1 Adjusted fr
Mirion Technologies — 2024 Jefferies Healthcare Conference on 6ix