Bird Construction Inc. · TSX:BDT
Bird Construction — Canaccord Genuity presentation (November 2018)
31 slides from Bird Construction's conference presentation, Nov 15, 2018
Slide 1: Presented by Ian Boyd, President & CEO
presented by Ian Boyd President & Chief Executive Officer Bird Construction
Slide 2: Disclaimer
Disclaimer This presentation contains forward‐looking statements that are based on current expectations, and are subject to a number of uncertainties and risks, and actual results may differ materially. These uncertainties and risks include, but are not limited to: industry cyclicality; competition;
Slide 3: Building Canada Since 1920
Building Canada Since 1920 1920 1930 1940s 1950s 1960s 1970s 1980s 1990s 2000s 2010s H.J. Bird Bird Bird plays a Contributes Expansion Bird begins Ownership Bird plays Acquisition Acquisition establishes Construction major role to the post into foray into transition major role of Rideau of Bird, Com
Slide 4: Build Bird Strategy
Build Bird Strategy Diversification and profitable growth Efficient processes and cost structure Vision: Safe production Be a premier Canadian Customer first approach contractor Corporate social responsibility driven by passion Integrated Bird and dedication Grow our talent Drive positive engagement
Slide 5: Quick Facts About Bird
Quick Facts About Bird LNG is a catalyst for Bird that accelerates our industrial recovery Industry leader in multi-site project bundles (schools, first responder stations) Environmental projects playing a bigger part in Bird Nuclear diversification efforts gaining momentum Preferred sub on three LR
Slide 6: Sector Diversification
Sector Diversification INSTITUTIONAL COMMERCIAL INDUSTRIAL 6
Slide 7: Sector Volume Diversification
Sector Volume Diversification 26% 24% 32% 37% 34% 56% 60% 58% 56% 61% 19% 15% 29% 20% 37% 11% 8% 11% 15% 57% 18% 51% 39% 43% 33% 32% 37% 31% 29% 21% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Industrial Commercial Institutional 7
Slide 8: Diversifying the Work Program
Diversifying the Work Program 8
Slide 9: Bird Market Positioning
Bird Market Positioning Ranked 9th in Revenue in Canada’s Construction Industry in 2017 According to On-Site Magazine 9
Slide 10: Diversification Within Sectors
Diversification Within Sectors CONSTRUCTION EQUITY & FINANCING TRANSPORTATION MINING HYDROELECTRIC 10
Slide 11: Diversification Within Sectors
Diversification Within Sectors INDUSTRIAL PROCESS NUCLEAR MODULARIZATION ENVIRONMENTAL–WATER/WASTEWATER 11
Slide 12: Shanghai Production Facility Shipped to North America
SHANGHAI PRODUCTION FACILITY SHIPPED TO NORTH AMERICA TRANSPORTED & ASSEMBLED COMPLETE WITH FURNITURE & FIXTURES 12
Slide 13: Geographic Diversification
Geographic Diversification 13
Slide 14: 2018 Status of Major Pursuits
2018 Status of Major Pursuits CRD RESIDUALS ONTARIO CNL NUCLEAR LNG CEDAR TREATMENT FACILITY PROVINCIAL POLICE RESEARCH CENTRE VALLEY LODGE Preferred Contracted Contracted Proponent Awarded CONFED. PH 2 HURONTARIO DARLINGTON MONCTON HALIFAX & TRILLIUM LRT WTP RCMP COMPOST 14
Slide 15: Backlog
Backlog in millions of canadian dollars Greater than $0.5B in awarded projects could be added to Backlog in next 12 months Backlog and Book‐to‐Bill are non‐GAAP measures Book‐to‐Bill % (Qtr) = (Net change in Backlog Q‐t‐Q + Revenue in Quarter) / Revenue in Quarter 15
Slide 16: The EBITDA Story – Why Invest in Bird?
The EBITDA Story in millions of canadian dollars – Why Invest in Bird? EBITDA drivers 2019 and beyond: • Greater than $500M of awards that could be added to Backlog in the next 12 months • Early mobilization on LNG site – Well‐positioned for future work • Industrial program expanded to seven provinc
Slide 17: Financial Summary
Financial Summary in Canadian Dollars Share price at Close November 13, 2018 $6.73 52 Week High $10.40 52 Week Low $6.30 Shares Outstanding 42.52 million Market Capitalization $286.14 million 2018 Q3 Dividend Declared per Share, Annualized $0.39 Dividend Yield* 5.79% * Dividend Yield = 2018 Q3 Divid
Slide 18: Construction Industry Outlook
Construction Industry Outlook Institutional $186B Infrastructure spending by Federal Government in the 11 years (2017-2028) 2018 Federal Budget has reprofiled the spend years of ~$1.75B, pushing out (Public transit, Green, Rural Communities) from the next 3 years (2018-2020) to 2022 and beyond
Slide 19: Construction Industry Outlook continued
Construction Industry Outlook continued MRO/ LNG Canada Awarded four Sustaining Kitimat projects Capital FID Well- Spending recently positioned for Increasing announced future Increased Iron Ore Activity Increasing Pump/ Gold & Lithium Compressor Stn. Active & Healthy Increasing 19
Slide 20: Thank You
THANK YOU
Slide 21: Appendix – Project Profiles
Appendix – Project Profiles 21
Slide 22: Shell Scotford Hard Services Contract
Shell Scotford Hard Services Contract A multi-year contract for maintenance services at Shell’s Scotford Site north of Fort McMurray includes HVAC services, security equipment, electrical systems and mechanical work. 22
Slide 23: Fort Hills Pilings & Foundations
Fort Hills Pilings & Foundations $182M 2,957 driven steel piles 686 screw piles 39,000 m3 of cast in place concrete 23
Slide 24: MCR Office Complex & Storage Facility
MCR Office Complex & Storage Facility $65M 12,000 m2 Bruce Power Kincardine, Ontario 24
Slide 25: Stanton Territorial Hospital
Stanton Territorial Hospital $255M 27,270 m2 Government of Northwest Territories Yellowknife, Northwest Territories 25
Slide 26: Moncton Downtown Centre
Moncton Downtown Centre $92M 23,000 m2 City of Moncton 26
Slide 27: Whitby Rail Maintenance Facility
Whitby Rail Maintenance Facility $465M 46,450 m2 Infrastructure Ontario & Metrolinx Whitby, Ontario 27
Slide 28: Saskatchewan Joint Use Schools
Saskatchewan Joint Use Schools $385M 18 Schools on 9 Joint-Use Sites Government of Saskatchewan 28
Slide 29: IKEA
IKEA $63M 30,500 m2 IKEA Canada Dartmouth, Nova Scotia 29
Slide 30: Paul's Peak Waste Rock Project
Paul’s Peak Waste Rock Project $100M ArcelorMittal Mines Canada Mont-Wright, Quebec 30
Slide 31: Hydroelectric Generating Stations
Hydroelectric Generating Stations Lower Churchill Muskrat Falls Generating Station $115M Muskrat Falls, Labrador Wuskwatim Generating Station $400M Thompson, MB 31
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