Slide 1: Second Quarter 2024 Results Presentation
Second Quarter 2024 Results Presentation August 8, 2024
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains non-IFRS and other financial measures and forward-looking statements, including a discussion of our business targets, expectations, and outlook. We caution readers not to place undue reliance on our forward- looking statements since a number of factors
Slide 3: Q2 2024 Sustainability Highlights
Q2 2024 Sustainability Highlights #2 Corporate Knights 2024 Best 50 Canadian Corporate Citizens Q2 2024 #14 Time Magazine World’s Most Sustainable Companies of 2024 American Bible Society 3 Philadelphia, PA, USA
Slide 4: Continuing to capitalize on long-term trends
Continuing to capitalize on long-term trends Q2 2024 Water Advanced Future Aging Climate Security Manufacturing Technology Infrastructure Change 4
Slide 5: Q2 2024 Results
Q2 2024 Results Q2 2024 Net revenue profile $1.5B $247M Net revenue Adjusted EBITDA (1) Organic Growth1 increased 16.8%* increased 14.5%* Global 23% 7% Q2 2024 Acquisition Growth1 US 16.6% $1.12 52% 9% Adjusted EBITDA Adjusted EPS (1) margin (1) decreased 30 bps* increased 13%* Canada 25% * Relative
Slide 6: United States
United States $millions, unless otherwise stated 16% Organic Growth Net revenue $667 $776 9% Acquisition Growth Q2 2024 6% Q2 2023 Q2 2024 Highlights • Water achieved >15% organic growth driven by robust public sector demand for industrial services and large-scale water security projects • Infrastru
Slide 7: Canada
Canada $millions, unless otherwise stated 16% Organic Growth Net revenue 5% $371 $320 Acquisition Growth Q2 2024 11% Q2 2023 Q2 2024 Highlights • Wastewater solution projects contributed to 19% organic growth in Water • Buildings achieved double-digit organic growth driven primarily by education, ci
Slide 8: Global
Global $millions, unless otherwise stated 19% Organic Growth Net revenue 6% $347 $291 Acquisition Growth Q2 2024 14% Q2 2023 Q2 2024 Highlights • Buildings achieved almost 30% organic growth attributed primarily to healthcare in Dubai • Long-term framework agreements in the UK, New Zealand, and Aust
Slide 9: Financial Performance
Q2 2024 Financial Performance Theresa Jang Q2 2024 Executive Vice President and Chief Financial Officer Berger Montague 9 Philadelphia, PA, USA
Slide 10: Financial results
Q2 2024 Financial results $millions, unless otherwise stated Gross and Project margin Adjusted EBITDA and Adjusted diluted net revenue and % of NR margin as % of NR1 earnings per share1 $1,890 $1,638 Q2 2024 $1,493 $1,279 $1.12 $0.99 54.4% 54.3% $812 $694 16.9% 16.6% $216 $247 Q2 2023 Q2 2024 Q2 202
Slide 11: Liquidity and capital resources
Q2 2024 Liquidity and capital resources $millions, unless otherwise stated Operating Capital returned Days sales outstanding cash flow to shareholders (YTD) Target < 80 days 83 81 79 77 77 $137 Q2 2024 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 $10 $46 Net debt to adjusted EBITDA1 $42 $68 Target 1.8 1.
Slide 12: Backlog, Major Projects & Outlook
Q2 2024 Backlog, Major Projects & Outlook Q2 2024 Gord Johnston President and Chief Executive Officer Albany Skyway 12 Albany, NY, USA
Slide 13: Backlog
Backlog $billions, unless otherwise stated $7.0 $7.2 $6.6 $6.4 $6.3 $1.2 $1.3 13.4%* $0.9 $1.0 $1.0 Organic Growth* Q2 2024 3% $4.3 $4.2 $4.3 Acquisition Growth* $4.1 $4.0 8% * Relative to Q4 2023 $1.4 $1.6 $1.7 $1.3 $1.3 Global United States Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Canada Wichelstow
Slide 14: Major project awards
Major project awards Q2 2024 DC Water Hyperscale campus data Kitikmeot Inuit Partnership – centers Grays Bay Road and Port Awarded 5-year Program Management Selected by a Fortune 100 client to provide Selected as the engineering and Services for the US Capital – DC Water’s architectural and engineer
Slide 15: 2024 Financial Targets (Revised)
2024 Financial Targets (Revised) 2024 Annual Range Net revenue growth 12% to 15% Q2 2024 Adjusted EBITDA as % of net revenue1 16.5% to 16.9% Adjusted net income as % of net revenue1 above 8% Adjusted diluted EPS growth1 12% to 16% Adjusted ROIC1 above 11% 1. Adjusted EBITDA, adjusted net income, adj
Slide 16: Welcome Vito Culmone
Welcome Vito Culmone Executive Vice President Vito will assume the role of Chief Financial Officer on September 3, 2024 Thank you Theresa Jang Executive Vice President & CFO Theresa will officially retire on September 27, 2024 16
Slide 17: Q&A
Q&A Q2 2024 ATB Financial - Fort McMurray Advisory Hub 17 Fort McMurray, AB, Canada