Slide 1: Q4 and Full Year 2023 Earnings Call Presentation
Q4 and Full Year 2023 Earnings Call Presentation March 6, 2024 Bird Construction Inc. (TSX:BDT)
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and information (“forward-looking statements”) within the meaning of applicable Canadian securities laws. The forward-looking statements contained in this presentation are based on the expectations, estimates and projections of managem
Slide 3: Disclaimer
Disclaimer TERMINOLOGY AND NON-GAAP & OTHER “Backlog” is a term representing the total value of all contracts awarded to the Company, less the total value of work completed on these FINANCIAL MEASURES contracts as of the date of the most recently completed quarter. The Company’s Backlog equates to
Slide 4: Unlocking Shareholder Value
TSX: TSX: BDT BDT Unlocking Team of over Shareholder Value 5,000 Led by an experienced management team Bird is positioned for A healthy and safe work environment with a collaborative, inclusive team culture Strong growth and profitability Disciplined growth strategy driving margin operational improv
Slide 5: Financial Highlights
Full Year Financial Highlights Key Performance Drivers Growth Profitability +18% +37% +44% Developing and attracting Top Talent 5.0% $1.33 $2,799 $139 Adj. EBITDA $72 Track record of accretive M&A, $101 EPS $50 $2,369 Margin(2) four in past four years Revenue ($M) Adj. EBITDA(1)($M) Net Income ($M)
Slide 6: Risk Balanced, Highly Collaborative, Diverse Backlog Mix
Risk Balanced, Highly Collaborative, Diverse Backlog Mix Future performance visibility supported by the robust combined backlog, characterized by accretive embedded margins and significant multi-year recurring revenue MSAs Backlog expected Collaborative delivery 62% to convert into Revenue over the
Slide 7: Operations Overview
Operations Overview Over the past six years, Bird has diversified its revenue and transitioned to a highly collaborative and risk-balanced mix of projects, enhancing profitability and Adjusted EBITDA margins through its specialized services and delivery of complex projects across industrial, infrast
Slide 8: Project Pursuits and Recent Project Awards
Positioned for growth with a significant pipeline of projects Project Pursuits and with accretive embedded EBITDA margins and a robust bidding environment for disciplined pursuit of new work. Recent Project Awards Industrial: Bird bolsters capabilities, capacity, and Bird continues to pursue new rec
Slide 9: Canada’s Energy Transition and Electrification Partner
Canada’s Energy Transition and Electrification Partner Clean Power Power Distribution & Low Carbon & Green Critical, Rare & Transportation, Generation Electrified Systems Infrastructure Solutions Battery Minerals Manufacturing & Logistics • Wind and solar projects • Energization & startup services •
Slide 10: Longer Cycle, Significant Demand Trends
Longer Cycle, Significant Demand Trends Public and Private Clients $125 to 2022 Federal Budget estimated the investment in net-zero transition requires $125 billion to $140 billion annually $140 billion through 2050. Government programs supporting investments in transportation, energy, water and was
Slide 11: Q4 and Full Year 2023 Financial Highlights
Q4 and Full Year 2023 Financial Highlights Three Months Ended Twelve Months Ended Y/Y Change Y/Y Change December 31, 2023 December 31, 2023 $ Millions (except per share amounts) Revenue $792.1 22.1% $2,798.8 18.1% $73.2 26.1% $240.5 19.2% Gross Profit 9.2% of Revenue (1) 8.6% of Revenue (1) $40.5 17
Slide 12: Sustained, Strong Financial Foundation with Flexibility for Continued Growth
Sustained, Strong in millions of Canadian dollars Financial Foundation December 31, 2023 Operating Cash Flow(4) with Flexibility for Accessible cash $ 80 Continued Growth Held in joint operations accounts $ 63 Restricted cash $ 35 140 Cash and cash equivalents $ 178 Very positive return and Loans an
Slide 13: 2024 Capital Allocation Priorities
2024 Capital Allocation Strong cash flows and significant liquidity to support a balanced approach to capital allocation, investing in excess of two thirds of Net Income to support Priorities profitable long-term growth and enhancing shareholder value. Balanced Approach to Capital Allocation Shareho
Slide 14: 2024 Outlook: Sustained Profitable Growth Momentum
2024 Outlook: Sustained Profitable Growth Momentum • Substantial 2023 organic Revenue growth and Gross Profit and Adjusted EBITDA margin accretion provide good momentum entering 2024. • Backlog of contracted work exceeded $3.4 billion, an all-time high for Bird, while Pending Backlog was $3.0 billio
Slide 15: Appendix
Appendix
Slide 16: Capital Markets Overview
$17.50 3.20% $943 M Capital Markets Share Price(1) Dividend Market Overview Yield(2) Capitalization (1) $8.01/$17.60 53,891,909 52 Week Low / High (1) Shares Outstanding (1) Organic and M&A Firm Analyst Contact Revenue Growth ATB Capital Chris Murray 416.520.0267 cmurray@atb.com Canaccord Genuity Yu
Slide 17: Q4 and Full Year 2023 Earnings Call Presentation
Q4 and Full Year 2023 Earnings Call Presentation Bird Construction Inc. (TSX:BDT) Q4 and Full Year 2023 Investor Presentation 16