Slide 1: Q4-F2023 Investor Presentation
Q4-F2023 Investor Presentation May 18th, 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 February 28, 2023. This investor presentation should be read in conjunction with the Company’s audited consolidated fin
Slide 3: Presenters
Presenters Thank you for your attendance to our Q4 F23 Financial Results Investor Call. 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.com/VelanInc @VelanInc www.linked
Slide 4: Our markets
Our markets Process & Navy Nuclear Power Severe MRO & Oil & gas Service After-Market
Slide 5: Key Highlights – Q4
Key Highlights – Q4 $115.1 m sales, improvement of $19.9 m or +20.9% vs Q3-F2023, Sales ($ m) however, a decrease of $9.7 m or -7.8% vs Q4-F2023. Prior year included a $8.8m positive adjustment to provision for performance 411 guarantees. 367 372 370 125 $16.5 m Adjusted EBITDA2 is better than t
Slide 6: Backlog
Backlog1 Backlog1 ($ m) $464.3 m backlog1 700 $308.0 m shippable in the next 12 months 600 0.76 book-to-bill ratio1 for the quarter despite higher 500 bookings than last year 400 Within 12 months backlog1 comparable to previous year > 1 year 300 The backlog1 was negatively impacted by the
Slide 7: Sales – Decrease in sales in Italy partially offset by increased volume in North America
Sales – Decrease in sales in Italy partially offset by increased volume in North America Q4 F2022 geographical sales* (in millions) Q4 F2023 geographical sales* (in millions) Other Other 9,4 North America 8,4 Italy 11,8 Italy 45,3 29,1 58,8 36,1 France North America France 41,0 Positive sales mome
Slide 8: Adjusted EBITDA evolution
Adjusted EBITDA1 evolution Historic ($ m) Q4 Bridge ($ m) 18 -0,1 16 14,0 14 0,9 4,6 12 Restructuring and 10 transformation 16,6 1,8 16,5 2 income 8 3,3 13,1 PY adj. 6 0,4 1,4 to provision 4 -3,7 5,4 PY adj. to 2 provision for performance 0 -4,0 guarantees -2 -4 Adj. to asbestos provision -56 2019 2
Slide 9: Net cash analysis
Net cash analysis Free Cash Flow2 ($ m) Net cash bridge ($ m) 9,3 5,8 17,1 5,4 16,4 4,9 1,5 5,2 16,5 1,4 17,1 50,3 29,3 2 2 Adj.EBITDA1 Inv AR Cust. Dep. Other Interest, Capex End of FCF ST investments Repay. of End of FCF WC mov.3 tax and Q3 F2023 Rev. Cr. Fac. Q4 F2023 others 4 Free Cash Flow ge
Slide 10: Closing Comments Q4 F2023
Closing Comments Q4 F2023 We were able to close fiscal 2023 with a strong quarter despite various global volatilities: • Our backlog1 remains strong, highlighted by higher bookings1 this quarter. • We are currently working on a large opportunity base of future bookings1. • Execution is always our
Slide 11: Presenters
Presenters Thank you for your attendance to our Q4 F23 Financial Results Investor Call. 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.com/VelanInc @VelanInc www.linked
Slide 12: Non-IFRS and Supplementary Financial Measures
NON-IFRS AND SUPPLEMENTARY FINANCIAL MEASURES Adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA") 2019 2020 2021 2022 2023 (in millions of USD) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Net income (loss)1 (3.7) (2.4) (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: Q4-F2023 Investor Presentation
Q4-F2023 Investor Presentation May 18th, 2023