Slide 1: Q3 2023 Earnings Presentation
Q3 2023 Earnings Presentation November 8, 2023 Bird Construction Inc. (TSX:BDT) BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 1
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: Terminology and Non-GAAP & Other Financial Measures
Disclaimer TERMINOLOGY AND NON-GAAP & OTHER FINANCIAL MEASURES Throughout this presentation, management uses certain terminology and financial measures that do not have standard meanings under IFRS and are considered specified financial measures. These include non-GAAP financial measures, non-GAAP f
Slide 4: Disclaimer: Terminology and Non-GAAP Measures (continued)
Disclaimer TERMINOLOGY AND NON-GAAP & OTHER FINANCIAL MEASURES (continued) • “Current Ratio” is a supplementary financial measure representing the percentage derived by dividing total current assets by total current liabilities. • “General and Administrative expenses as a percentage of revenue” is a
Slide 5: Positioned For Growth on Strong Business Foundation
Positioned For Growth on Strong Business Foundation A healthy and safe Significant revenue work environment growth is non-negotiable Bird Construction | TSX: BDT Organic and Bird (TSX:BDT) is a diversified Canadian ~75% of combined backlog acquisitive growth, and pending backlog has a construction a
Slide 6: Revenue Growth, Record Combined Backlog, Developing and Attracting Talent
Revenue Growth, Record Combined Backlog, Developing and Attracting Talent A foundation for continued revenue growth and margin accretion in 2024 Significant third-quarter revenue and Q3 2023 Highlights earnings growth. $783.8M 17.3% $28.8M $0.54 Future performance visibility Q3 2023 Revenue Year-ove
Slide 7: What Sets Us Apart
What Sets Us Apart Q3 2023 Working Track Record for Growing Presence in Q3 2023 Revenue Q3 2023 TTM Adj. +20% YTD Growth in Capital +7% from Strong Integration Canada’s Nuclear +17.3% Y/Y EBITDA 4.7% Combined Backlog Dec. 31, 2022 and Retention Sector Disciplined and Continued Significant Strong bal
Slide 8: Risk Balance, Highly Collaborative, Diverse Backlog Mix
Risk Balance, 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 to Collaborative Growing Portfolio of Recurring Revenue deliv
Slide 9: Expanded Capabilities Aligned to High Growth Sectors
Expanded Capabilities Aligned to High Growth Sectors Executing Well on Strategic Pillars Positioned for growth with a significant pipeline of projects with accretive embedded EBITDA margins and a robust TEAM bidding environment for disciplined pursuit of new work. • World class safety program • High
Slide 10: Energy Transition Partner
Energy Transition Partner Delivering critical energy solutions and innovative services nationally The evolving energy landscape demands significant investment in electrical infrastructure to achieve decarbonization goals. Bird has been a key long-term partner for many clients, constructing and maint
Slide 11: Q3 2023 Financial Highlights
Q3 2023 Financial Highlights Three Months Ended Nine Months Ended Y/Y Change Y/Y Change September 30, 2023 September 30, 2023 $ Millions (except per share amounts) Revenue $783.8 17.3% $2,006.7 16.6% Gross Profit $73.0 24.5% $167.3 16.5% 9.3% of Revenue (1) 8.3% of Revenue (1) General and Administra
Slide 12: Sustained, Strong Financial Position
Sustained, Strong Financial Position Q3 2023 in millions of Canadian dollars September 30, 2023 21.1% 1.22 0.24x Accessible cash $ 56 Long-term Loans & Current Adjusted Net Debt/ Borrowings to Equity(1) Ratio(1) TTM Adjusted EBITDA(1) Held in joint operations accounts $ 26 Restricted cash $ 22 Syndi
Slide 13: Capital Allocation Highlights
Capital Allocation Highlights Balancing profitable growth, significant financial strength, investments in the business and M&A Cash Generation Dividends M&A Operating Cashflow(1) Positioned to execute on the right $140 – Well-covered dividend M&A opportunities. $120 important part of total $100 shar
Slide 14: Growth and Margin Trends Support Positive Full Year 2023 and 2024 Outlook
Growth and Margin Trends Support Positive Full Year 2023 and 2024 Outlook 2023 2024 – Expect solid Q4 results, consistent with prior – Risk-balanced and diversified combined backlog with expectations; full-year results are expected to higher embedded margins provides good visibility into reflect the
Slide 15: Appendix
We bring life to vision Creating great things with you Appendix
Slide 16: Revenue, Net Income, and Adjusted Earnings
Revenue, Net Income, and Adjusted Earnings REVENUE NET INCOME ADJUSTED EARNINGS(1) $0.96 $2,500 $60 $1.00 $60 $1.00 $0.93 $0.92 $0.93 $0.89 $0.86 $0.90 $0.90 +17% $0.80 $0.80 $50 $50 $2,000 $0.80 $0.80 $0.65 $0.70 $0.70 $40 $40 $0.57 $1,500 $0.60 $0.54 $0.54 $0.60 $30 $0.50 $30 $0.50 $2,378 $2,220 $
Slide 17: Risk Balanced Business Model Generating Growth and Profitability
Risk Balanced Business Model Generating Growth and Profitability Growing revenue and healthy EBITDA margin 5-Year Revenue and Adjusted EBITDA Margin(1) in millions of Canadian dollars $3,000 10% $2,664 9% $2,500 $2,378 8% $2,220 7% $2,000 $1,504 6% $1,376 4.9% 4.7% 5% $1,500 5.5% 4.3% $1,382 4% $1,0
Slide 18: Q4 & Full Year 2022 Results Presentation
Q4 & Full Year 2022 Results Presentation March 8th, 2023 Bird Construction Inc. (TSX:BDT) Q3 2023 Results Presentation Bird Construction Inc. (TSX:BDT) 18