Slide 1: First Quarter 2024 Earnings Presentation
First Quarter 2024 Earnings Presentation May 9, 2024
Slide 2: Forward-Looking Statements and Non-IFRS Financial Measures
Forward-Looking Statements and Non-IFRS Financial Measures Forward-Looking Statements This presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws. Such forward-looking information includes, but is not limited to, information with respect to MDA
Slide 3: Why Invest In MDA?
Why Invest In MDA? Established Industry Leader with a Attractive Fundamentals for Proven Track Record and Strong Long-term Value Creation Competitive Position Growing backlog, strong profitability and healthy balance sheet More than 50 years of innovation in space Strong customer relationships with
Slide 4: Key Messages
Key Messages FIRST QUARTER 2024 Record backlog of $3.3B at quarter end, up 169% YoY Healthy top line growth with revenues of $209.1M, up 3.6% YoY driven by execution on our backlog Solid profitability with adjusted EBITDA(1) of $42.0M, and adjusted EBITDA margin(1) of 20.1% in line with manage
Slide 5: Key Performance Indicators
Key Performance Indicators Backlog LTM Revenues $3,312M $815M $715M $1,232M Mar 31, 2023 Mar 31, 2024 Mar 31, 2023 Mar 31, 2024 LTM Adjusted EBITDA (1) LTM Adjusted Net Income (1) $162M $167M $86M $71M Adj. EBITDA Adj. EBITDA Margin Margin 22.7% 20.5% Mar 31, 2023 Mar 31, 2024 Mar 31, 2023 Mar 31, 2
Slide 6: First Quarter 2024 Results
First Quarter 2024 Results ($M, except per share figures) Q1 2024 Q1 2023 YoY Change ($) YoY Change (%) Revenues $209.1 $201.9 $7.2 4% Gross Profit 57.9 67.2 -9.3 -14% Gross margin 27.7% 33.3% (1) Adjusted EBITDA 42.0 48.9 -6.9 -14% Adjusted EBITDA margin 20.1% 24.2% (1) Adjusted Net Income 18.1 26.
Slide 7: Order Bookings & Backlog
Order Bookings & Backlog LTM Order Bookings (1) Backlog $2,895M $3,312M $3,069M $3,097M $2,452M $2,526M $1,303M $1,380M $1,517M $1,521M $1,405M $1,378M $1,136M $1,155M $1,232M $1,098M $430M $333M Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1
Slide 8: Cash Generation & Financial Position
Cash Generation & Financial Position Operating Cash Flow Capital Expenditures Free Cash Flow FCF FCF excluding Growth Capex $46M $42M $41M $40M $20M $25M $5M $4M Maintenance Capex $5M -$16M Q1-23 Q1-24 Q1-23 Q1-24 Q1-23 Q1-24 Operating cash flows of $25M in Q1 2024 impacted by higher working Net D
Slide 9: 2024 Financial Outlook
2024 Financial Outlook 2024 Financial Outlook 2024 Financial Outlook (May 9, 2024) (February 28, 2024) Revenue $950 - $1,050M $950 - $1,050M YoY Growth at mid-point ~25% ~25% Adjusted EBITDA $190 - $210M $190 - $210M Adjusted EBITDA Margin ~19% - 20% ~19% - 20% Capital Expenditures (1) $210 - $230M
Slide 10: Appendix
APPENDIX
Slide 11: Appendix – Reconciliation of Non-IFRS Measures
Appendix – Reconciliation of Non-IFRS Measures ($M) Q1-24 Q1-23 Net income $13.8 $16.1 Depreciation and amortization of assets 10.5 6.6 Amortization of intangible assets related to business 12.3 12.8 combination Income tax expense 5.7 8.1 Finance income (0.7) (0.3) Finance costs 6.1 2.5 EBITDA 47.7
Slide 12: Appendix – Reconciliation of Non-IFRS Measures
Appendix – Reconciliation of Non-IFRS Measures ($M, except per share figures) Q1-24 Q1-23 Net income $13.8 $16.1 Amortization of intangible assets related to business combination 12.3 12.8 Gain on disposal of assets (5.8) - Unrealized (gain) loss on derivative financial instruments (0.9) 0.5 Net for
Slide 13: Appendix – Reconciliation of Non-IFRS Measures
Appendix – Reconciliation of Non-IFRS Measures ($M) Q1-24 Q4-23 Q3-23 Q2-23 Q1-23 Q4-22 Q3-22 Q2-22 Q1-22 Opening Backlog $3,097.0 $3,068.7 $1,093.8 $1,232.4 $1,378.2 $1,405.1 $1,520.8 $1,516.8 $864.3 Revenue (209.1) (205.0) (204.7) (196.0) (201.9) (186.1) (172.0) (154.7) (128.4) recognized Order Bo
Slide 14: We'll Take You There
gQuoa SPACE We'll Take You There