Ballard Power Systems Inc. · TSX:BLDP
Ballard Power Systems — Q3 2018 Earnings Presentation
7 slides from Ballard Power Systems's earnings presentation, Nov 1, 2018
Slide 1: Q3 2018 Financial Results
Q3 2018 Financial Results November 1, 2018 Nasdaq & TSX Ticker: BLDP Power to Change the World® 1 BALLARD.COM
Slide 2: Q3 & YTD Revenue and Gross Margin
Q3 & YTD Revenue and Gross Margin REVENUE GROSS MARGIN $81.0M $68.1M 2018 36% 33% 2017 32% 30% $31.9M $21.6M Q3 YTD Q3 YTD • Q3 2018 Revenue -32%, to $21.6M • Q3 2018 Gross Margin -2-points, to 30% o -47% Power Products, to $11.2M o Reflects shift in mix of Power Product -65% Heavy Duty Motive, to
Slide 3: Q3 & YTD Cash Operating Cost Base and Adjusted EBITDA
Q3 & YTD Cash Operating Cost Base and Adjusted EBITDA CASH OPERATING COST BASE * ADJUSTED EBITDA # Q3 YTD $31.8M $1.2M $0.9M $27.8M 2018 2017 $10.6M ($3.6)M $9.4M Q3 YTD ($8.3)M • Q3 2018 Cash Operating Costs +13%, to $10.6M • Q3 2018: o Due to increased research and product o Adjusted EBITDA ($3.6)
Slide 4: Liquidity
Liquidity • Q3 2018 Cash Used By Operating Activities flat at ($7.7)M $60.1M • End-Q3 2018 cash reserves of $23.2M, 2018 2017 down from $35.2M in the prior quarter $23.2M o Cash reserves were impacted by the acquisition of certain strategic assets of AFCC as well as a build-up of inventory in advanc
Slide 5: Order Backlog
Order Backlog End-Q3 2018: Order Backlog1 of $122.7M and 12-Month Order Book2 of $59.6M ORDER Order Backlog Orders Received Orders Delivered Order Backlog BACKLOG at End-Q2 2018 in Q3 2018 in Q3 2018 at End-Q3 2018 Total Fuel Cell $283.3M ($139.0)M* $21.6M $122.7M Products & Services * Reflects remo
Slide 6: Q3 & YTD 2018 Results
Q3 & YTD 2018 Results (Millions of U.S. dollars) Q3 2018 Q3 2017 % Change YTD 2018 YTD 2017 % Change REVENUE Fuel Cell Products & Services Revenue: Heavy Duty Motive $6.3 $17.8 -65% $28.9 $37.1 -22% Portable Power $1.9 $0.9 124% $6.7 $3.0 128% Material Handling $2.7 $2.0 31% $4.8 $6.2 -23% Backup Po
Slide 7: Power to Change the World
Power to Change the World® 7 BALLARD.COM
Ballard Power Systems — Q3 2018 Earnings Presentation on 6ix