Slide 1: Q4 & Full Year 2022 Results Presentation
Q4 & Full Year 2022 Results Presentation March 8th, 2023 Bird Construction Inc. (TSX:BDT) BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 1
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and information (“forward-looking statements”) within the meaning of applicable Canadian securities laws. The forward-looking statements contained in this presentation are based on the expectations, estimates and projections of managem
Slide 3: Disclaimer: Terminology and Non-GAAP Measures
Disclaimer TERMINOLOGY AND NON-GAAP & OTHER FINANCIAL MEASURES Throughout this presentation, management uses certain terminology and financial measures that do not have standard meanings under IFRS and are considered specified financial measures. These include non-GAAP financial measures, non-GAAP f
Slide 4: Disclaimer: Terminology and Non-GAAP Measures (continued)
Disclaimer TERMINOLOGY AND NON-GAAP & OTHER FINANCIAL MEASURES (continued) • “Current Ratio” is a supplementary financial measure representing the percentage derived by dividing total current assets by total current liabilities. • “General and Administrative expenses as a percentage of revenue” is a
Slide 5: Positioned For Growth on Strong Business Foundation
Positioned For Growth on Strong Business Foundation Bird Construction TSX: BDT A healthy and safe Team of 5000+ Bird is a Canadian construction and maintenance company providing a work environment is management team comprehensive scope offering and a diversified portfolio of services to non-negotiab
Slide 6: Record Revenues
Record Revenues Confidence in 2023 margin improvements Q4 2022 Highlights Full Year Highlights Year over year growth driving record revenues $657.2M 9.9% $2,377.5M 7.1% Q4 2022 Revenue Organic year-over- 2022 Revenue Year-over-year year growth growth Solid earnings and $14.9M $0.28 $49.9M $0.93 impr
Slide 7: What Sets Us Apart
What Sets Us Apart 2022 Revenue 2022 Adj. Record Combined 2022 Working + Self Perform + Growing +7.1% Y/Y EBITDA 4.3% Backlog Capital +22% Y/Y Capabilities National Portfolio Disciplined and Positive Sustained Strong balance Track record of Elevated strategic momentum on robust combined sheet & fina
Slide 8: Risk Balanced Business Model Generating Growth and Profitability
Risk Balanced Business Model Generating Growth and Profitability 5-Year Revenue and Adjusted EBITDA Margin • Improving margins through increased self-perform activity, $2,500 in millions of Canadian dollars 2,378 10% strategic organic growth, acquisitions, and diligent cost 2,220 management. 9% • Re
Slide 9: Highly Collaborative, Diverse Backlog Mix
Highly Collaborative, Diverse Backlog Mix Strong visibility to continued revenue and margin growth through 2023 Collaborative Backlog expected to delivery models in Significant Portfolio of Recurring Revenue 64% convert into Revenue over the +70% Backlog and Pending Contracts in Pending Backlog Back
Slide 10: Expanded Capabilities Aligned to High Growth Sectors
Expanded Capabilities Aligned to High Growth Sectors Executing Well on Strategic Pillars Positioned for growth with a significant pipeline of projects and a robust bidding environment for TEAM disciplined pursuit of new work. • World class safety program • Highly engaged, high-performance team with
Slide 11: Positioned to Capture Growth in Key Sectors
Positioned to Buildings Construction Future Energy Services Horizontal Civil Works Structural Civil Works Services Capture Growth in Key Sectors Diverse range of services and self- Electrical and One Pass Trenching / perform scopes Heavy Civil Services Powerline & Telecoms Instrumentation Utilities
Slide 12: Energy Transition Partner
Energy Transition Partner Delivering critical energy solutions The evolving energy landscape demands significant investment in electrical infrastructure to achieve decarbonization goals. Bird has been a key long-term partner for many clients constructing and maintaining the energy systems that power
Slide 13: 2022 ESG Highlights
2022 ESG Highlights BOARD WOMEN BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 13
Slide 14: Financial Highlights Q4 and Full-Year 2022
Financial Highlights Q4 and Full-Year 2022 Three Months Ended Year Ended Change Change December 31, 2022 December 31, 2022 $ Millions (except per share amounts) Revenue $657.2 9.9% $2,377.5 7.1% Gross Profit $58.1 13.2% $201.8 8.1% 8.8% of Revenue (1) 8.5% of Revenue (1) General and Administrative $
Slide 15: Sustained, Strong Financial Position Q4 2022
Sustained, Strong Financial Position Q4 2022 in millions of Canadian dollars December 31, 2022 24.9% 1.23 (0.21)x Accessible cash $ 96 Long-term Loans & Current Adjusted Net Debt/ Borrowings to Equity(1) Ratio(1) TTM Adjusted EBITDA(1) Restricted cash $ 63 Held in joint operations accounts $ 16 Synd
Slide 16: Capital Allocation Highlights
Capital Allocation Highlights Balancing profitable growth, significant financial strength, investments in the business and M&A Cash Generation M&A Dividends Operating Cashflow(1) Positioned to execute on the right – 10% dividend increase – $140 M&A opportunities on positive outlook $120 $100 – Raisi
Slide 17: Growth and Margin Trends Support 2023 Outlook
Growth and Margin Trends Support 2023 Outlook 2023 outlook for revenue and earnings growth – Expect to maintain mid to high single-digit revenue growth in 2023 – Positive momentum achieved in the second half of 2022 and visibility provided by the record combined $2.6 billion Backlog and $2.5 billion
Slide 18: Appendix
We bring life to vision Creating great things with you Appendix
Slide 19: Sector Volume Diversification
Sector Volume Diversification Balanced work programs 2022 between commercial and Balanced Sector institutional work, while largely Diversification maintaining Industrial work to drive stronger growth. 100% 20.0% 90% 26% 24% 34% 0.0% 80% 37% 37% 43% 44% 43% 56% 53% 70% 19% 66% -20.0 60% 15% The curre
Slide 20: Diversifying Risk - Revenue by Contract Type
Diversifying Risk - Revenue by Contract Type in millions of Canadian dollars $29 $15 $55 • Public Private Partnership $59 $135 $102 $101 $121 (PPP) Higher risk $179 $177 • Design-Build-Finance • Complex Design-Build $1,236 $1,342 $943 $792 • Stipulated Sum $806 • Unit Price • Specified Design-Build
Slide 21: Backlog & Pending Backlog
Backlog & Pending Backlog 6000 in millions of Canadian dollars Backlog expected to 64% convert into Revenue 5000 over the next 12 months 4000 2,137 1,625 1,717 1,807 2,490 1,788 1,636 1,685 1,648 1,300 3000 December 31, 2022 • Strong quarter-end Backlog(1) of $2.6B 2000 625 575 • Strong quarter-end
Slide 22: Revenue, Net Income, and Adjusted Earnings
Revenue, Net Income, and Adjusted Earnings REVENUE NET INCOME ADJUSTED EARNINGS(1) $60 $1.20 $2,500 $60 $1.00 $0.93 $0.80 $0.96 $0.90 $50 $1.00 $50 $0.80 $0.92 $2,000 $0.86 $0.80 $0.70 $40 $0.80 $40 $1,500 $0.60 $30 $0.50 $30 $0.60 $2,378 $2,220 $51 $1,000 $50 $0.40 $46 $20 $43 $20 $42 $0.40 $1,504
Slide 23: Q4 & Full Year 2022 Results Presentation
Q4 & Full Year 2022 Results Presentation March 8th, 2023 Bird Construction Inc. (TSX:BDT) Q4 & Full Year 2022 Results Presentation Bird Construction Inc. (TSX:BDT) 23