Slide 1: Q1 2025 Earnings Call Presentation
Q1 2025 Earnings Call Presentation May 14, 2025 Bird Construction Inc. (TSX:BDT) Q1 2025 Earnings Call Presentation
Slide 2: Disclaimer
Disclaimer Terminology and non-GAAP & other financial measures Throughout this presentation, management uses certain terminology and financial measures that do not have standard meanings under IFRS and are considered specified financial measures. These include non-GAAP financial measures, non-GAAP
Slide 3: Financial Highlights
Financial Highlights Q1 2025 in millions of Canadian dollars Adj. EBITDA1 & Adj. • Continued Growth & Margin Expansion – Revenue EBITDA Margin2 Driven by diversification in high-demand 4.0% y/y 40.9% y/y sectors, industrial and infrastructure growth, 4.8% and increased self-perform work. $718 3.5% $
Slide 4: Sustained EBITDA Momentum
Sustained EBITDA Margin growth trajectory supported by strategic Momentum mix in economically resilient sectors. QUARTERLY Adj. EBITDA ($M) ▪ Q1 margin expansion driven by broad Q1 $34 4.8% based margin improvements across all 2025 business units. Q1 $24 3.5% 2024 ▪ Diverse, highly collaborative wor
Slide 5: Sustained, Diversified, and Risk-Balanced
Sustained, Diversified, and Risk-Balanced BACKGROUND BACKLOG BREAKDOWN Backlog Characterizations Expect Significant Conversions of Pending Backlog to Backlog in Q2 Scope Expansion on LCIPs and Projects Successfully Reaching Securements across our business units with Construction Phase growth in-line
Slide 6: Key Strategic Sectors
Key Strategic Sectors Well-positioned to Benefit from $1.6B Announced May YTD: Significant Long-term Demand ▪ Defence Strategic focus on economically resilient sectors supported by longer-term drivers, ▪ Transportation infrastructure such as: defence spending; transportation infrastructure; power in
Slide 7: Operational Excellence Driving Growth on Large Capital Investment Projects
Operational Spotlight Projects Excellence Driving Woodfibre LNG Project Growth on Large Key construction subcontractor on $5.1B project for world’s first net-zero LNG export facility; notably, completed over $1B in work at the Kitimat LNG Project. Capital Investment Bruce and Darlington Nuclear Faci
Slide 8: Q1 2025 Financial Highlights
Q1 2025 Financial Highlights Revenue growth, continued margin accretion and delivering earnings and operating cash flow improvements that significantly outpaced revenue growth. Three Months Ended Y/Y March 31, 2025 Change Revenue $717.6 4.3% Gross Profit $67.5 22.4% 9.4% of Revenue 1 Adjusted EBITDA
Slide 9: Strong Cash Flow Generator
Strong Cash Flow Generator Solid, sustained financial foundation with flexibility for continued growth Cash Flows from Operating Activities Expanding Free Cash Flow Robust liquidity and capital 47% +14% q/q Generation efficiency metrics CAGR1 $114 $83 $95 $76 $43 2022 2023 2024 Q1'24 Q1'25 62.9% 1.2
Slide 10: Disciplined Capital Allocation Strategy
Disciplined Capital Allocation Strategy Uses of capital Capital Expenditures1 (2022-2024) $30 215% increase $20 to monthly $31 $34 $28 dividend $10 27% Smart capital $8 $7 investments to $- 34% support further 2022 2023 2024 Q1'24 YTD Q1'25 YTD productivity and in millions of Canadian Dollars ~$300M
Slide 11: Outlook
Committed to Our Strategic Plan – Bird’s strategic focus on diversifying its work programs geographically and across industrial, building and infrastructure markets, as well as the Company’s strategic focus on key sectors with long-term Outlook demand drivers, position Bird to manage current market
Slide 12: Appendix
Appendix
Slide 13: Capital Markets Overview
$24.48 ~3.4% ~$1.4B Capital Share Price(1) Dividend Market Markets Yield Capitalization (1) Overview $17.52/$32.67 52 Week Low / High (1) 55,382,831 Shares Outstanding (1) Organic and M&A Firm Analyst Contact Revenue Growth ATB Capital Chris Murray 647.776.8246 cmurray@atb.com BMO Capital Markets Jo
Slide 14: Building on the foundation of operational excellence and safe execution
Building on the foundation of operational excellence and safe execution, considerable growth and sustained momentum from the Company's 2022- 2024 Strategic Plan. Q1 2025 Earnings Call Presentation
Slide 15: 2025-2027 Strategic Plan Targets
2025-2027 Strategic Plan Targets Revenue Adj. EBITDA Dividends 10% +/- 2% 8.0% 33% Organic revenue growth CAGR Adjusted EBITDA Margin for full- year 2027 Dividend payout ratio of Net (with 2025 receiving an additional 5% growth from the full year of Jacob Bros. revenue, when compared to 2024) Income
Slide 16: Q1 2025 Earnings Call Presentation
Q1 2025 Earnings Call Presentation Bird Construction Inc. (TSX:BDT) Q1 2025 Earnings Call Presentation 15