Slide 1: Q2-F2024 Investor Presentation
Q2-F2024 Investor Presentation October 6th, 2023
Slide 2: Disclaimer
Disclaimer The following investor presentation provides an analysis of the consolidated operating results and financial position of Velan Inc. (“the Company”) for the quarter ended August 31, 2023. This investor presentation should be read in conjunction with the Company’s audited consolidated finan
Slide 3: Presenters
Presenters Thank you for attending our Q2-F2024 Financial Results Investor Call. We will be happy to take questions at the end of the presentation. Bruno Carbonaro Rishi Sharma CEO and President Chief Financial Officer +1 438 817-7593 +1 438 817-4430 bruno.carbonaro@velan.com rishi.sharma@velan.com
Slide 4: Our markets
Our markets Process & Navy Nuclear Power Severe MRO & Oil & gas Service After-Market
Slide 5: Key Highlights – Q2-F2024
Key Highlights – Q2-F2024 $80.3 m sales, an improvement of $12.7 m or 18.7% vs Q1-F2024, a Sales ($ m) decrease of $4.7 m or -5.6% vs Q2-F2023. 411 $3.0 m EBITDA2 is $1.6 m higher than last year. The increase is 372 370 primarily attributable to a decrease in administration costs. 125 $2.1 m n
Slide 6: Backlog
Backlog1 Backlog1 ($ m) $485.7 m backlog1. 700 • $339.4 m shippable in the next 12 months. 600 1.10 book-to-bill ratio1 for the half-year driven by 500 changes in the profile of scheduled backlog1 shipment dates as well as securing 71.5 m of new orders in the 400 > 1 year quarter (163 m YTD). 30
Slide 7: Sales – Decrease in sales for the quarter related to timing
Sales – Decrease in sales for the quarter related to timing Q2-F2023 geographical sales* (in millions) Q2-F2024 geographical sales* (in millions) Other Other 9,4 7,7 North America Italy 12,9 Italy 15,0 44,4 42,9 France 16,8 16,3 France North America The decrease in sales for the quarter is primari
Slide 8: EBITDA evolution
EBITDA1 evolution Historic ($ m) Q2-F2024 Bridge ($ m) 18 +1,6 16 0,4 3,0 14 12 Restructuring and 10 transformation income 2 2,0 2,1 8 6 3,1 4 1,4 2 0 1,2 -2 -4 Adj. to asbestos provision -56 2020 2021 2022 2023 2024 Q2-F2023 Volume Mix FX Administration Other Q2-F2024 2019 costs Q2-F2024 gross pr
Slide 9: Net cash analysis
Net cash analysis Free Cash Flow2 ($ m) Net cash bridge ($ m) 3,0 7,7 5,0 0,8 0,5 0,1 7,7 22,8 58,6 4,4 39,4 2,2 2,2 1,6 -22,8 2 2 1 AR Inv AP Other Interest, Capex End of FCF Rev. Cred. Repay. LTD Dividend Other End of EBITDA 3 FCF Fac. WC mov. tax and Q1-F2024 Q2-F2024 others4 Free Cash Flow usa
Slide 10: Closing Comments Q2-F2024
Closing Comments Q2-F2024 Q2-F2024 was an improvement in terms of results when compared to Q2-F2023, as we partly recovered from some of the delays experienced at the start of the year. We are now focused on the ramp-up for H2-F2024. We continue to manage the business prudently, with specific focu
Slide 11: Presenters
Presenters Thank you for attending our Q2-F2024 Financial Results Investor Call. We are happy to answer any questions. Bruno Carbonaro Rishi Sharma CEO and President Chief Financial Officer +1 438 817-7593 +1 438 817-4430 bruno.carbonaro@velan.com rishi.sharma@velan.com www.velan.com www.facebook.co
Slide 12: Non-IFRS and Supplementary Financial Measures
NON-IFRS AND SUPPLEMENTARY FINANCIAL MEASURES Adjusted earnings (loss) before interest, taxes, depreciation and amortization ("EBITDA") 2019 2020 2021 2022 2023 2024 (in millions of USD) Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Net income (loss)1 (0.2) 1.5 (5.8) 1.4 (0.8) (11.1) (
Slide 13: Our Board of directors
Our Board of directors Suzanne Blanchet Bruno Carbonaro Dahra Granovsky Edward Kernaghan La Prairie, Québec, Canada Montréal, Québec, Canada Toronto, Ontario, Canada Toronto, Ontario, Canada Director since: 2021 Director since: 2022 Director since: 2019 Director since: 2021 James A. Mannebach Chair
Slide 14: Q2-F2024 Investor Presentation
Q2-F2024 Investor Presentation October 6th, 2023