Slide 1: Q1 2023 Earnings Presentation
Q1 2023 Earnings Presentation May 10, 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 & Other Financial 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 & Other Financial 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 Experienced comprehensive scope offering and a diversified portfolio of services to non-negotiable.
Slide 6: Sustained Momentum, Revenue Growth, Record Combined Backlog
Sustained Momentum, Revenue Growth, Record Combined Backlog Confidence in 2023 margin improvements Q1 2023 Highlights Year-over-year organic revenue growth $536.5M 12.8% Q1 2023 Revenue Year-over-year growth Healthy seasonal earnings $5.1M $0.10 Net Income EPS $16.1M 3.0% Record combined Backlog and
Slide 7: What Sets Us Apart
What Sets Us Apart Q1 2023 Revenue Q1 2023 TTM Adj. Record Combined Q1 2023 Working + Self Perform + Growing +12.8% Y/Y EBITDA 4.1% Backlog Capital +20% Y/Y Capabilities National Portfolio Disciplined and Positive Growing Strong balance Track record of Elevated strategic momentum on recurring sheet
Slide 8: Risk Balanced Business Model Generating Growth and Profitability
Risk Balanced Business Model Generating Growth and Profitability Growing revenue and healthy EBITDA margin 5-Year Revenue and Adjusted EBITDA Margin • Improving margins through increased self-perform activity, $2,500 in millions of Canadian dollars 2,438 10% strategic organic growth, acquisitions, a
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 Growing Portfolio of Recurring Revenue 67% convert into Revenue over the >70% Backlog and Pending Contracts in Pending Backlog next 12
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: Permanent Modular Construction: Achieving New Heights
Permanent Modular Construction: Achieving New Heights Increasing awareness of the benefits of modular construction Bird has a growing portfolio of permanent modular projects. The modular approach provides cost savings and enhanced cost predictability, as well as a substantially reduced construction
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 New Employee Resource Groups >$800,000 >$132,000 Total community investment Indigenous community investment spend BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 13
Slide 14: Financial Highlights Q1 2023
Financial Highlights Q1 2023 Three Months Ended Y/Y Change March 31, 2023 $ Millions (except per share amounts) Revenue $536.5 12.8% Gross Profit $39.8 (4.3%) 7.4% of Revenue (1) General and Administrative $31.6 0.8% 5.9% of Revenue (1) Adjusted EBITDA(2) $16.1 (9.8%) 3.0% of Revenue (1) Net Income
Slide 15: Sustained, Strong Financial Position
Sustained, Strong Financial Position Q1 2023 in millions of Canadian dollars March 31, 2022 23.8% 1.22 0.24x Accessible cash $ 48 Long-term Loans & Current Adjusted Net Debt/ Borrowings to Equity(1) Ratio(1) TTM Adjusted EBITDA(1) Restricted cash $ 48 Held in joint operations accounts $ 15 Syndicate
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 in $120 December
Slide 17: Growth and Margin Trends Support 2023 Outlook
Growth and Margin Trends Support 2023 Outlook Q1 revenue growth and record combined backlog – Highly collaborative and diversified mix of sophisticated projects, record combined backlog and pending backlog, growing recurring revenue, and robust bidding market uphold positive outlook – Expect high si
Slide 18: Appendix
We bring life to vision Creating great things with you Appendix
Slide 19: Revenue, Net Income, and Adjusted Earnings
Revenue, Net Income, and Adjusted Earnings REVENUE NET INCOME ADJUSTED EARNINGS(1) $0.96 $2,500 $60 $1.00 $60 $1.00 $0.93 $0.92 $0.86 $0.80 $0.90 $0.90 $50 $0.80 $50 $2,000 $0.80 $0.80 $0.70 $0.70 $40 $40 $1,500 $0.60 $0.60 $30 $0.50 $30 $0.50 $2,378 $2,220 $1,000 $50 $0.40 $51 $0.40 $43 $46 $20 $20
Slide 20: Q4 & Full Year 2022 Results Presentation
Q4 & Full Year 2022 Results Presentation March 8th, 2023 Bird Construction Inc. (TSX:BDT) Q1 2023 Results Presentation Bird Construction Inc. (TSX:BDT) 20