Gfl Environmental Inc · TSX:GFL
Gfl Environmental — Q1 2021 Earnings Presentation
11 slides from Gfl Environmental's earnings presentation, May 6, 2021
Slide 1: Q1 2021 Investor Review
Q1 2021 Investor Review May 6, 2021
Slide 2: Disclaimer
Disclaimer Unless otherwise indicated, all references in this presentation to ‘‘GFL,’’ ‘‘we,’’ ‘‘our,’’ ‘‘us,’’ the “Company’’ or similar terms refer to GFL Environmental Inc. and its consolidated subsidiaries. Forward-looking Statements This presentation contains “forward-looking statements” within
Slide 3: Q1 Highlights
Q1 Highlights Q1: Financial Results • Revenue of $1,186.6 million, increase of 27.4% • Adjusted EBITDA(1) of $306.6 million, Solid Waste increase of 37.6% 72% o Adjusted EBITDA margin(1) of 25.8%, 190 bps increase over prior period o Solid waste Adjusted EBITDA margin(1) of 31.0%, 260 bps ahead of
Slide 4: Q1 Revenue Growth
Q1 Revenue Growth Solid Waste Three months ended March 31, 2021 Contribution Total • 5.1% positive organic growth (110 bps sequential increase Organic Foreign from Revenue from Q4-20), exceeding expectations Growth Exchange Acquisitions Growth Solid waste: o 4.0% net price despite lower ICI volume
Slide 5: Operating Segment Breakdown
Operating Segment Breakdown (C$ millions unless otherwise noted) Solid Waste Three months ended March 31, 2021 Adjusted • 260 bps margin expansion vs Q1-20 Adjusted Revenue EBITDA EBITDA(1) Margin(2) o Significant margin expansion in both geographies Solid waste: o Net impact from commodities, F/X
Slide 6: Cash Flow and Liquidity Highlights
Cash Flow and Liquidity Highlights (C$ millions unless otherwise noted) Adjusted Free Cash Flow Three months ended March 31, Change • 97% increase in Adjusted Cash Flows from Operating 2021 2020 $ % Activities as compared to Q1-20 Cash flows from operating activities 212.7 (50.2) 262.9 523.7% • Re
Slide 7: Appendix
Appendix
Slide 8: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (C$ millions unless otherwise noted) 1. (Gain) loss on foreign exchange: Consists of (i) non-cash gains and losses on foreign exchange and interest rate swaps entered into in connection with our debt Three months ended March 31, instruments, and (ii) gains and losses a
Slide 9: Adjusted Free Cash Flow Reconciliation
Adjusted Free Cash Flow Reconciliation (C$ millions unless otherwise noted) 1. Costs associated with IPO related debt repayments: Consists of costs associated with the IPO, such as legal, audit, regulatory and other fees and expenses incurred in Three months ended March 31, connection with the IPO,
Slide 10: Adjusted Net Income (Loss) Reconciliation
Adjusted Net Income (Loss) Reconciliation (C$ and shares in millions unless otherwise noted) 1. Amortization of intangible assets: This is a non-cash item and consists of the amortization of intangible assets such as customer lists, municipal contracts, non- Three months ended March 31, complete agr
Slide 11: Definitions
Definitions Adjusted EBITDA: Is calculated by adding and deducting, as applicable, certain expenses, costs, charges or benefits incurred in such period which in management’s view are either not indicative of underlying business performance or impact the ability to assess the operating performance