Slide 1: Q3 2024 Earnings Call Presentation
Q3 2024 Earnings Call Presentation November 6, 2024 Bird Construction Inc. (TSX:BDT) Q3 2024 Earnings Call Presentation
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and information (“forward-looking statements”) within the meaning of applicable Canadian securities laws. The forward-looking statements contained in this presentation are based on the expectations, estimates and projections of managem
Slide 3: Disclaimer: Terminology and Non-GAAP & Other Financial Measures
“Backlog” is a term representing the total value of all contracts awarded to the Company, less the total value of work completed on these Disclaimer contracts as of the date of the most recently completed quarter. The Company’s Backlog equates to the Company’s remaining performance obligations as di
Slide 4: Unlocking Shareholder Value
TSX: TSX: BDT BDT Team of over Unlocking 6,000 Shareholder Value Led by an experienced management team Strong operational Bird is positioned for A healthy and safe work environment with a cash flows collaborative, inclusive team culture growth and profitability Disciplined growth strategy driving ma
Slide 5: Q3 2024 Financial Highlights
Q3 2024 Financial Highlights Growth Profitability Key Performance Drivers +15% +42% +26% Developing and attracting 7.8% Top Talent Adj. EBITDA $0.66 Margin(2) EPS $784 $899 $70 $36 Track record of accretive M&A, $49 $29 four in past four years (1) Revenue ($M) Adj. EBITDA ($M) Net Income ($M) Q3 202
Slide 6: Risk Balanced, Highly Collaborative, Diverse Backlog Mix
Risk Balanced, Highly Collaborative, Diverse Backlog Mix 5 Future performance visibility supported by the robust combined backlog, characterized by accretive embedded margins and significant multi-year recurring revenue MSAs Backlog expected Collaborative delivery 62% to convert into Revenue over th
Slide 7: Business Strategy: Profitability. Discipline. Diversification and Growth.
Business Strategy Profitability. Discipline. Diversification and Growth. The Company plans to retain two-thirds of net income to support continued growth beyond 2024. Profitability Margin Accretion Strategy Diversification and Growth The Company remains focused on margin accretion by leveraging the
Slide 8: Project Pursuits and Recent Project Awards
Positioned for growth with a significant pipeline of projects Project Pursuits and with accretive embedded EBITDA margins and a robust bidding environment for disciplined pursuit of new work. Recent Project Awards Civil site works and foundations at two industrial projects, multi-year master Bird co
Slide 9: Canada's Energy Transition and Electrification Partner
Canada’s Energy Transition and Electrification Partner Clean Power Power Distribution & Low Carbon & Green Critical, Rare & Transportation, Generation Electrified Systems Infrastructure Solutions Battery Minerals Manufacturing & Logistics • Wind and solar projects • Energization & startup services •
Slide 10: Longer Cycle, Significant Demand Trends
+ Major Renewed/growing interest in Canadian LNG as a green-er global Longer Cycle, Significant Industrial fuel source driving continued investment in LNG Projects – Woodfibre LNG and potential for LNGC Phase 2. Projects Demand Trends + Modular Modular emerging as a more recognized solution for Cana
Slide 11: Q3 2024 Financial Highlights
Q3 2024 Financial Highlights Three Months Nine Months Ended Y/Y Change Ended Y/Y Change $ Millions (except September 30, 2024 September 30, 2024 per share amounts) Revenue $898.9 14.7% $2,460.7 22.6% Gross Profit $102.3 40.2% $232.3 38.8% 11.4% of Revenue (1) 9.4% of Revenue (1) General and $51.6 49
Slide 12: Sustained, Strong Financial Foundation with Flexibility for Continued Growth
Sustained, Strong Financial Foundation Operating Cash Flow(3) in millions of Canadian dollars with Flexibility for September 30, 2024 Continued Growth Accessible cash $ (6) $160 19% 56% Held in joint operations accounts 90 y/y CAGR Restricted cash 33 $140 Very positive return and Cash and cash equiv
Slide 13: Risk Balanced Business Model Generating Growth and Profitability
Risk Balanced Business Model Generating Growth and Profitability 2020-2024 Revenue and Adjusted EBITDA(1) in millions of Canadian dollars Growing Revenue $3,500 $3,253 $300 and EBITDA $3,000 $250 $2,656 Revenue (TTM) $2,500 $2,177 $2,318 (5.7%) $185 $200 CAGR 24% TTM Adj. EBITDA ($) TTM Revenue ($)
Slide 14: 2024 Capital Allocation Priorities
2024 Capital Allocation Strong cash flows and significant liquidity to support a balanced approach to capital allocation, investing two thirds of Net Income to support profitable Priorities long-term growth and enhancing shareholder value. Balanced Approach to Capital Allocation Shareholder Returns
Slide 15: 2024 Outlook: Sustained Profitable Growth Momentum
2024 Outlook: Sustained Profitable Growth Momentum • Bird's focus on higher margin sectors, growing self-perform, disciplined project selection and collaborative contracting continues to drive higher embedded margins in the Company’s combined backlog. • Bird’s pipeline of work, and attractive opport
Slide 16: 2025-2027 Strategic Plan Financial Targets
2025-2027 Strategic Plan Financial Targets Grounded in safe, collaborative, and disciplined operational excellence 10% +/- 2% 8% 33% Organic revenue Adjusted EBITDA Dividend payout ratio growth CAGR1 Margin for full-year 20272 of net income ~5% ~0.4% $0.07 contribution from full-year margin accretio
Slide 17: Appendix
Appendix Q3 2024 Earnings Call Presentation
Slide 18: Capital Markets Overview
$30.94 ~2.71% ~$1.7B Capital Markets Share Price(1) Dividend Market Overview Yield(2) Capitalization (1) $10.38/$32.67 55,382,831 52 Week Low / High (1) Shares Outstanding (1) Organic and M&A Firm Analyst Contact Revenue Growth ATB Capital Chris Murray 647.776.8246 cmurray@atb.com BMO Capital Market
Slide 19: Q3 2024 Earnings Call Presentation
Q3 2024 Earnings Call Presentation Bird Construction Inc. (TSX:BDT) Q3 2024 Earnings Call Presentation 18