Advanced Drainage Systems, Inc. · NYSE:WMS
Advanced Drainage Systems — Q1 FY2021 Earnings Presentation
14 slides from Advanced Drainage Systems's earnings presentation, Aug 6, 2020
Slide 1: Advanced Drainage Systems Q1 Fiscal 2021 Financial Results
Advanced Drainage Systems Q1 Fiscal 2021 Financial Results
Slide 2: Management Presenters
Management Presenters Scott Barbour President and Chief Executive Officer Scott Cottrill Executive Vice President, Chief Financial Officer Mike Higgins Vice President, Corporate Strategy & Investor Relations
Slide 3: Forward Looking Statements and Non-GAAP Financial Metrics
Forward Looking Statements and Non-GAAP Financial Metrics Certain statements in this presentation may be deemed to be forward-looking statements. These statements are not historical facts but rather are based on the Company’s current expectations, estimates and projections regarding the Company’s bu
Slide 4: Q1 Fiscal 2021 Revenue Highlights
1 2 3 4 5 Q1 Fiscal 2021 Revenue Highlights Consolidated net sales grew 23% driven by 3% organic growth and contribution from Infiltrator Water Technologies. Organic domestic sales growth driven by key sales programs, as we continue to execute on material conversion, water management solutions and k
Slide 5: Q1 Fiscal 2021 Highlights
1 2 3 4 Q1 Fiscal 2021 Highlights Consolidated Adjusted EBITDA increased 99%, driven by 47% increase in the legacy ADS business and contribution from Infiltrator Water Technologies. Organic Adjusted EBITDA growth driven by favorable material cost, lower manufacturing/transportation costs, contributi
Slide 6: Q1 Fiscal 2021 Financial Performance
Q1 Fiscal 2021 Financial Performance +1200 bps Organic* +830 bps (USD, in millions) +22.9% Organic* +3.1% By Application + Pipe +4% + Allied +4% Domestic Markets + Construction +2% ‒ Non-Residential - 3% + Residential +13% + Infrastructure +5% + Agriculture +36% Organic* Revenue Performance By Geogr
Slide 7: Free Cash Flow
Free Cash Flow FY 2021 FY 2020 ∆ Consolidated Adjusted EBITDA $159 $80 $79 Working capital(2) (9) (8) (1) Cash tax (0) (1) 1 Cash interest (7) (3) (4) Transaction costs(3) ‒ (1) 1 Other (9) (4) (5) Consolidated Cash flow from operations $134 $63 $71 Capital expenditures (10) (10) 0 Consolidated Free
Slide 8: Capital Structure & Liquidity
Capital Structure & Liquidity (in millions) June 30, 2020 March 31, 2020 Interest Term Loan Facility (9/2019) $ 647 $ 648 L + 2.250% Senior Notes (9/2019) 350 350 5.000% Revolving Credit Facility 50 100 L + 2.000% Equipment financing 1 1 2.753% Total debt $ 1,048 $ 1,099 Finance leases $ 60 $ 65 5.5
Slide 9: Q&A Session
Q&A Session
Slide 10: Closing Remarks
1 2 3 4 5 Closing Remarks Employee health and safety will remain our highest priority. ADS and Infiltrator continue to provide essential water management and on-site septic solutions to the customers and the communities they serve. Trailing-twelve-month proforma leverage of 1.9x is favorable, one fu
Slide 11: Appendix
Appendix
Slide 12: Q1 FY 2021 Results
Q1 FY 2021 Infiltrator Water Technologies Results Infiltrator Water Technologies results performed above previous expectations Infiltrator Water Technologies acquisition closed July 31, 2019. (1) Includes $18.1 million of intersegment net sales for the three months ended June 30, 2020. (USD, in mill
Slide 13: Reconciliations
Reconciliations Three Months Ended June 30, (Amounts in thousands) 2020 2019 Segment Adjusted Gross Profit Pipe $ 90,599 $ 57,493 International 11,408 9,227 Infiltrator Water Technologies 47,928 - Allied Products & Other 60,468 57,187 Intersegment Elimination (358) - Total Segment Adjusted Gross Pro
Slide 14: Reconciliations
Reconciliations Includes expenses directly related to our response to the COVID-19 pandemic, including adjustments to our pandemic pay program and expenses associated with our 3rd party crisis management vendor. Includes derivative fair value adjustments, foreign currency transaction (gains) losses,
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