Orion Group Holdings, Inc. · NYSE:ORN
Orion — Orion Marine Group — Shareholder Meeting (2012)
16 slides from Orion's shareholder meeting presentation, 2012
Slide 1: 2012 Annual Meeting
Building the Future 2012 ANNUAL MEETING
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT The matters discussed in this presentation may make projections and other forward-looking statements regarding, among other things, estimates for the remainder off fiscal f year revenues, gross profit,f gross margin, EBITDA, backlog, projects in negotiation and pending awards,
Slide 3: 2011 Recap
2011 RECAP WIN RATE BACKLOG $253 0 $253.0 $215.4 $194.5 $164.5 $ Millions Total Market $1.6 B Won $228 M Win Rate 14% 2009 2010 2011 1Q 2012 SIGNIFICANT AWARDS FINANCIAL HIGHLIGHTS $millions except EPS 2011 2010 Port Canaveral ‐ $18M Revenue $ 259.9 $ 353.1 La Quinta Channel Extension ‐ $40M Op
Slide 4: Financial Strength
FINANCIAL STRENGTH Orion Marine Group has a solid financial background to help drive future growth in markets and projects Conservative balance sheet Solid cash position p Low Debt Access to capital markets $400 million in bonding capacity Strategic long-term focus on growth 4
Slide 5: Bookings in 2011 Improved
BOOKINGS IN 2011 IMPROVED 2.50x Book‐to‐Bill Ratio 2.01x 2.00x 1.48x 1.50x 1.40x ok‐to‐Bill 1.33x 1.11x 1 03x 1.03x Boo 0 99 0.99x 1.00x 0.75x 0.71x 0.64x 0.58x 0.50x 0.32x - Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 5
Slide 6: Challenging Environment Continues
CHALLENGING ENVIRONMENT CONTINUES Anemic e cG GDP g growth o Economic E i uncertainties i i Continued pricing pressure Delays in job lettings on the Federal side 6
Slide 7: Bid Market Outlook Remains High
BID MARKET OUTLOOK REMAINS HIGH We believe there are ample opportunities to continue to grow our market database Market Database Opportunities $6.0 $5.0 $ Billions $4.5 $4.0 $3.5 $3.0 $ 2007 2008 2009 2010 2011 2012 7 Source: Internal Company Database
Slide 8: Waterways Continues to Grow
WATERWAYS CONTINUES TO GROW Total Waterborne Commerce of the U.S. 1970‐2008 3,000 $50,000.00 2,800 $45,000.00 Millions of Short TTons (Total Importss & Exports) 2,600 $40,000.00 2,400 $35,000.00 GDP/Caapita (2005 Dollars) 2,200 $30,000.00 2,000 $25,000.00 1,800 $ $20,000.00 1,600 $15,000.00 1,400 $1
Slide 9: Panama Canal Widening
PANAMA CANAL WIDENING Expansion Facts Estimated Completion: 2014‐2015 New locks will be able to handle ships with drafts up to 50 ft Will nearly triple the current cargo capacity that can transit 12,600 TEU 4,800 TEU 9 Source: Panama Canal Authority
Slide 10: Corps Vital to Waterways
CORPS VITAL TO WATERWAYS Army Corps of Engineers is the primary funding source for the Nations Waterways Annual Fiscal Year Budget $2.5 $2.5 $2.5 $2 4 $2.4 $2.4 $2.3 $ Billions $1.7 $1.7 $1.7 $1.6 $1.5 $1.4 2007 2008 2009 2010 2011 2012 Operations & Maintenance Construction 10 Source: US Army Corps
Slide 11: Coastal Restroation
COASTAL RESTROATION 11 Source: Coastal Protection and Restoration Authority Louisiana 2012 Master Plan
Slide 12: Bridges Are in a State of Disrepair
BRIDGES ARE IN A STATE OF DISREPAIR 2009 Infrastructure Report p Card CONGRESS UNABLE TO AGREE Aviation D ON A NEW TRANSPORTATION Bridges C Dams D BILL Drinkingg Water D‐ Energy D+ Hazardous Waste D Previous Highway Bill extension Inland Waterways D‐ expired March 31, 2012. Levees D‐ Public Parks
Slide 13: Summary
SUMMARY Managing Strong Long Building Th Through h Th The Term Market The Downturn Opportunity Future Multiple end-market Position Orion to meet Protect, Manage, drivers for future demand Prepare future growth opportunities 13
Slide 14: GAAP to Non-GAAP
A Leading Heavy Civil Marine Contractor GAAP TO NON-GAAP
Slide 15: GAAP to Non-GAAP
GAAP TO NON-GAAP EBITDA and EBITDA Margin This presentation includes the financial measures “EBITDA” and “EBITDA margin”. These measurements may be deemed “non-GAAP financial measures” under rules of the Securities and Exchange Commission, including Regulation G. G The non-GAAP non GAAP financial in
Slide 16: GAAP to Non-GAAP
GAAP TO NON-GAAP Earnings Before Interest, Taxes, Depreciation and Amortization, and deferred financing costs, (“EBITDA”). Full Year 2007, 2008, 2009, 2010, 2011 EBITDA (in Thousands) 2007 2008 2009 2010 2011 N t income Net i $ 17 399 17,399 $ 14,475 14 475 $ 20,030 20 030 $ 21,882 21 882 $ (13,114)