Rb Global, Inc. · TSX:RBA
Rb Global — Q4 2023 Earnings Presentation
13 slides from Rb Global's earnings presentation, Feb 23, 2024
Slide 1: Fourth Quarter 2023 Financial Results
Fourth Quarter 2023 Financial Results © 2024 RB Global, Inc. | All Rights Reserved 1
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements and forward-looking information within the meaning of applicable US and Canadian securities legislation (collectively, “forward- looking statements”), including, in particular, statements regarding future financial and
Slide 3: Key Messages
Key Messages All sectors contributed to strong GTV growth Achieved Great Place to Work Certification™ Investing in growth and driving operational excellence © 2024 RB Global, Inc. | All Rights Reserved 3
Slide 4: Significant Progress on Integration
Significant Progress on Integration Cost Synergies Land Strategy • Realized $17 million in cost Strategically and opportunistically synergies in the fourth quarter purchasing property: • In regions susceptible to • Actioned $70 million in annualized catastrophic events run-rate cost synergies since
Slide 5: Gross Transaction Value
Gross Transaction Value Sector Growth* 28% 20% 13% 10% 9% 7% 6% -8% Automotive Commerical Construction & Transportation Other Total Lot volume GTV * Reported gross transaction value in the current period compared to pro forma combined gross transaction value in the year-ago period • 13% YoY increase
Slide 6: Service Revenue and Take Rate
Service Revenue and Take Rate Service Revenue Service Revenue Take Rate $809 M 20.0% 20.2% $709 M $107 M $84 M $469 M $414 M $211 M $234 M 4Q 22* 4Q 23 4Q 22* 4Q 23 Commissions Buyer Fees Marketplace Services * Pro forma combined • Service revenue increased 14% YoY on a pro forma combined basis on h
Slide 7: Inventory Sales Revenue, Return and Rate
Inventory Sales Revenue, Return and Rate Inventory Sales Revenue Inventory Return and Rate $258 M $35 M 30.0% $232 M $30 M $29 M 25.0% $25 M 20.0% $20 M 15.0% $15 M 11.2% $12 M 10.0% $10 M 5.0% 5.0% $5 M $0 M 0.0% 4Q 22* 4Q 23 4Q 22* 4Q 23 Return Rate * Pro forma combined • Inventory sales revenue d
Slide 8: Adjusted EBITDA and Adjusted Diluted EPS
Adjusted EBITDA and Adjusted Diluted EPS Adjusted EBITDA Adjusted Earnings Per Share $0.82 $0.68 4Q 22 4Q 23 Adjusted EBITDA increased 14% YoY when compared to the combined Adjusted EBITDA of IAA and Adjusted EBITDA Ritchie Bros. for the year-ago period. Adjusted EPS increased 21% YoY on strong oper
Slide 9: Balance Sheet & Liquidity
Balance Sheet & Liquidity Targeting to 2.0x by the end of the first quarter of 2025 15.0x 2.4x 2.2x 2.0x Debt / Net income Adjusted Net Debt Adjusted Net Debt 24 Month Post Close Target / TTM Adjusted EBITDA / TTM Combined Adjusted EBITDA © 2024 RB Global, Inc. | All Rights Reserved 9
Slide 10: Key Thoughts As We Look Ahead to 2024
Key Thoughts As We Look Ahead to 2024 • Strength in the commercial construction and transportation sector with moderating growth in the automotive sector GTV Growth1 1% to 4% • Continued gains in market share • Year-over-year growth driven by our commitment to operational excellence while prudently
Slide 11: Appendix
Appendix • Reconciliation of IAA’s Reported Adjusted EBITDA to RB Global Definition of Adjusted EBITDA © 2024 RB Global, Inc. | All Rights Reserved 11
Slide 12: Reconciliation of IAA's Reported Adjusted EBITDA to RB Global's Definition
Reconciliation of IAA’s Reported Adjusted EBITDA to RB Global’s Definition of Adjusted EBITDA (in U.S. dollars in millions, except percentages) Quarter ended January 1, 2023 Net income $ 77.9 Add: income taxes 15.0 Add: interest expense, net 15.0 Add: depreciation & amortization 27.7 EBITDA 135.6 Ad
Slide 13: Reserved 13
© 2024 © 2024 RB Global, RB Global, Inc.Rights Inc. | All | All Rights Reserved 13 Reserved