Wsp Global Inc · TSX:WSP
Wsp Global — Q1 2021 Earnings Presentation
22 slides from Wsp Global's earnings presentation, May 12, 2021
Slide 1: Q1 2021 Results
Q1 2021 Results May 12, 2021
Slide 2: Cautionary Statement and Non-IFRS Measures
Q1 2021 Results CAUTIONARY STATEMENT AND NON-IFRS MEASURES CAUTIONARY STATEMENT • Certain information regarding WSP contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, strategic ambitions, objectives, expectations, opinions, forecasts,
Slide 3: A Strong Start to the Year
Q1 2021 Results A STRONG START TO THE YEAR • Significantly improved our margin profile 3 • Demonstrated robust productivity levels • Healthy backlog
Slide 4: Q1 2021 Key Events
WS) Q1 2021 Key Events
Slide 5: Closed Strategic Acquisitions
Q1 2021 Results CLOSED STRATEGIC ACQUISITIONS • Aligns with our 2019-2021 Global Strategic Plan’s 5 objectives • Expands our service offering into strategic advisory areas • Increases our worldwide footprint
Slide 6: Net zero, supported by science-based greenhouse gas emissions reduction targets
Q1 2021 Results Net zero, supported by science-based greenhouse gas emissions reduction targets • In signing up to the Business Ambition for 1.5°C Campaign, WSP pledges to achieve net zero emissions across its value chain by 6 2040. • Joining Race to Zero, which brings together a coalition of leadin
Slide 7: Major Q1 2021 Project Wins
Q1 2021 Results MAJOR Q1 2021 PROJECT WINS New Transbay Rail Crossing & Link21 Program ◦ Planning and engineering services for a new Transbay rail crossing between Oakland and San Francisco. 7 High Speed North, Phase 2 ◦ The scope covers 16 viaducts, 22 bridges, 2 flyovers, 14 culverts, various cutt
Slide 8: Q1 2021 Overview
WS) Q1 2021 Overview
Slide 9: Regional Overview: Canada
Q1 2021 Results Q1 2021 REGIONAL OVERVIEW : CANADA • 3.0% organic contraction in net revenues* by segment • 15.4% adjusted EBITDA margin* by segment • Backlog* organic growth of 5.5% since December 31, 2020 Net revenues breakdown - Q1 2021 Environment 9 15% Property & Buildings Industry 26% 2% Resou
Slide 10: Regional Overview: Americas
Q1 2021 Results Q1 2021 REGIONAL OVERVIEW : AMERICAS • 4.0% organic contraction in net revenues* by segment • 16.2% adjusted EBITDA margin* by segment • Backlog* organic growth of 0.8% since December 31, 2020 Net revenues breakdown - Q1 2021 Property & Buildings Environment 15% 14% 10 Resources 3% P
Slide 11: Regional Overview: EMEIA
Q1 2021 Results Q1 2021 REGIONAL OVERVIEW : EMEIA • 4.7% organic contraction in net revenues* by segment • 15.5% adjusted EBITDA margin* by segment • Backlog* organic growth of 2.5% since December 31, 2020 Net revenues breakdown - Q1 2021 Environment 11 7% Property & Buildings 36% Industry 3% Power
Slide 12: Regional Overview: APAC
Q1 2021 Results Q1 2021 REGIONAL OVERVIEW : APAC • 6.3% organic contraction in net revenues* by segment • 15.0% adjusted EBITDA margin* by segment • Backlog* organic growth of 0.4% since December 31, 2020 Net revenues breakdown - Q1 2021 Property & Buildings 37% 12 Environment 5% Resources 4% Power
Slide 13: Q1 2021 Financial Performance
Q1 2021 Financial 13 Performance
Slide 14: In-Line with Management's Expectations
Q1 2021 Results IN-LINE WITH MANAGEMENT'S EXPECTATIONS • Adjusted EBITDA margin* of 14.4% for Q1 2021 • Earnings before net financing expense and income taxes of $129.0 million for Q1 2021 14 • Free cash flow* of $85.3 million for Q1 2021 • Cash inflows from operating activities of $163.4 million fo
Slide 15: Revenues and Net Revenues
Q1 2021 Results REVENUES AND NET REVENUES* REVENUES NET REVENUES* -4.8% $2,210.0 -4.0% $2,104.8 $1,736.1 15 $1,666.8 Q1 2020 Q1 2021 Numbers are quoted in million of dollars (except percentages). *Non-IFRS measure. This measure is defined in section 19, “Glossary of non-IFRS measures and segment rep
Slide 16: Profitability
Q1 2021 Results PROFITABILITY EARNINGS BEFORE NET FINANCING EXPENSE ADJUSTED EBITDA* ($) AND ADJUSTED EBITDA MARGIN* (%) AND INCOME TAXES +10.3% $241.0 +46.6% $218.4 16 $129.0 12.6% 14.4% $88.0 Q1 2020 Q1 2021 Numbers are quoted in million of dollars (except percentages). *Non-IFRS measure. This mea
Slide 17: Net Earnings
Q1 2021 Results NET EARNINGS NET EARNINGS ATTRIBUTABLE TO SHAREHOLDERS ADJUSTED NET EARNINGS* (in millions of $ and per share) (in millions of $ and per share) $94.2 $87.9 $63.3 17 $0.77 $0.60 $0.83 per share per share per share $14.2 $0.13 per share Q1 2020 Q1 2021 Numbers are quoted in million of
Slide 18: Backlog
Q1 2021 Results BACKLOG* $8,611.0 $8,481.0 $8,505.8 $8,421.3 $8,430.9 +1.7% Backlog organic growth from December 31, 2020 18 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Numbers are quoted in million of dollars (except percentages). * Non-IFRS measure. This measure is defined in section 19, “Glossary of
Slide 19: Days Sales Outstanding (DSO)
Q1 2021 Results DAYS SALES OUTSTANDING (DSO)* 77 72 72 19 68 63 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 * Non-IFRS measure. This measure is defined in section 19, “Glossary of non-IFRS measures and segment reporting measures” of WSP's management's discussion and analysis for the quarter ended March
Slide 20: Leverage Ratio
Q1 2021 Results LEVERAGE RATIO As at March 27, 2021 Long-term debt $621.9 20 Less: Cash and cash equivalents $(439.8) Net debt* $182.1 Adjusted EBITDA* for the twelve-months ended March 27, 2021 $1,076.3 Net debt to adjusted EBITDA ratio* 0.2 The net debt to adjusted EBITDA ratio is expected to incr
Slide 21: Well positioned to achieve our 2019-2021 strategic ambitions
Q1 2021 Results We are well positioned to achieve our 2019-2021 strategic ambitions notwithstanding these unprecedented times. We believe that the addition of Golder will contribute to both strategic growth and value creation for many years to come. Our aim We will We will strive to remains to be a
Slide 22: Q&A
Q&A