Slide 1: Q1 2023 Earnings Release Presentation
Q1 2023 Earnings Release Presentation
Slide 2: Forward-Looking Information
Q1 2023 Forward-Looking Information This presentation contains forward-looking information within the meaning of applicable securities laws. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "predict", "estimate" or similar terminology are used to identify forward-loo
Slide 3: Q1 2023 Highlights
Q1 2023 Highlights MAINTAINING DISCIPLINED CAPITAL ALLOCATION Q1 Adjusted EBITDA1 at $55M APPROACH WITH “ALL OF THE ABOVE” STRATEGY 6% growth in 12-month backlog, as robust offshore pipe coating upcycle commences Net-debt-to Organic adjusted Continued mobilization of the Southeast Gateway Pipeline I
Slide 4: Composite Systems
Q1 2023 Composite Systems 25% increase in revenue vs. Q1-2022 to $133 million, a first quarter record for the segment Strong order growth for large diameter Flexpipe Continued robust tank demand despite modest seasonal impact to sales during the quarter Completed the acquisition of Triton Stormwater
Slide 5: Automotive and Industrial
Q1 2023 Automotive and Industrial Revenue of $93 million marks a 19% increase vs. Q1-2022 and a new record for the segment Strong deliveries into North American utilities and European Automotive end markets 72% of revenue from industrial sources, with the remaining 28% coming from automotive end mar
Slide 6: Pipeline and Pipe Services
Q1 2023 Pipeline and Pipe Services The segment delivered $138 million of revenue, a 65% increase vs. Q1-2022, as several offshore coating projects commenced Segment EBITDA exceeded 10% during first quarter as multi-year offshore pipeline construction up-cycle continued 12-month backlog increased, wi
Slide 7: Backlog, Bid & Budgetary
Q1 2023 2023 Backlog, Bid & Budgetary Q1 2023 Q4 2022 $84 12-month Backlog rose 6% as offshore pipeline construction projects are captured and industrial and infrastructure $220 demand remains strong. The majority of the backlog is attributed to the Pipeline and Pipe Services segment. Bid strength c
Slide 8: Financial Results
Q1 2023 2023 Financial Results Composite Systems QUARTER OVER PRIOR-YEAR QUARTER HIGHLIGHTS In millions Q1 2023 Q1 2022 Change Revenue 132.5 106.4 25% • Consolidated Revenue of $364.4M and consolidated Adj. EBITDA of $54.5M Adj. EBITDA 26.7 15.0 78% • Composite Systems Adjusted EBITDA rises 78%, ref
Slide 9: Cashflow and Debt
Q1 2023 2023 Cashflow and Debt Consolidated Cash & Debt Net Debt $500 $437 $421 $410 $400 $291 $307 $281 $300 $266 $246 $222 $207 $200 $163 $87 $100 $8 -80% $0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2020 2021 2022 2023 • Invested in $85.9 million of Working Capital mainly driven by the timing of the
Slide 10: CAPEX
Q1 2023 2023 CAPEX • Capital spend of $22.8 million in Q1, of which $21.9 million directed to growth capital, the majority of which CAPEX ($CAD MM) was customer funded and went to support the $90 SGP project. $80 $76 • Capital spending for full year 2023 expected to be $160-$180 million, dominated $
Slide 11: Cumulative Value of Strategic Actions
Q1 2023 Cumulative Value of Strategic Actions Actions taken since the beginning of 2020 resulted in the following, as at March 31, 2023: 9 Pipe Coating Facility Exits Increase in Long-term Debt Scope 1 & 2 Estimated Fixed Infrastructure and 8 Divestitures/Closures Removed $247M Emissions Reduced ~30
Slide 12: Outlook
2023 Outlook MACRO-ECONOMIC OPERATIONAL • Continuing expansion of global • Expect Q2-23 performance to approach Q1- investment in communications, 23 levels transportation, low emissions • Anticipate substantial step-up in H2-23 energy and water management • $160-$180M planned capital investment in i
Slide 13: A Global Materials Technology Company Positioned for Growth
A Global Materials Technology Company Positioned for Growth Transitioning to a new Company name: Mattr™ in H1 2023 Mattr embodies our core competencies in materials technology, and reflects the significance of our products and solutions. What we do matters – to our employees, our customers, our comm