Badger Infrastructure Solutions Ltd · TSX:BDGI
Badger Infrastructure Solutions — Shareholder Meeting (May 2023)
15 slides from Badger Infrastructure Solutions's shareholder meeting presentation, May 4, 2023
Slide 1: Annual Meeting of Shareholders
ANNUAL MEETING OF SHAREHOLDERS CALGARY, AB MAY 4, 2023
Slide 2: Cautionary Statement Regarding Forward-Looking Information
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Certain statements and information contained in this presentation and other continuous disclosure documents of » Badger’s internal processes, technology, and systems will continue to be effective; Badger Infrastructure Solutions Ltd. (“Badge
Slide 3: Agenda
AGENDA 1. Badger Overview 2. Investment Highlights 3. Strategic Advantages 4. Long-Term Financial Priorities 5. Q&A Speaker: Robert Blackadar, President & CEO |3
Slide 4: Badger Infrastructure Solutions
1) BADGER OVERVIEW BADGER INFRASTRUCTURE SOLUTIONS Our best-in-class non-destructive excavation service offerings include: Hydrovac: Using pressurized water and an industrial strength vacuum to break apart soil, clay, or hard-packed dirt surrounding sensitive underground infrastructure. Airvac: Usin
Slide 5: Safety Is Our Purpose
1) BADGER OVERVIEW SAFETY IS OUR PURPOSE § Non-destructive excavation avoids damage to underground infrastructure § We are seeing more legislation mandating non- destructive excavation across North America § Common Ground Alliance estimates the cost of damaged underground utilities could exceed $30
Slide 6: 2022 Financial Recap
1) BADGER OVERVIEW 2022 FINANCIAL RECAP USD $millions, unless otherwise stated 2022 2021 Change Revenue $570.8 $453.9 +25.8% Adjusted EBITDA(1) $100.0 $57.9 +72.7% Adjusted EBITDA margin 17.5% 12.8% +470 bps Earning per share $0.53 ($0.25) nmf Revenue per truck(1) (mixed currency) $39,649 $30,841 +2
Slide 7: Investment Highlights
2) INVESTMENT HIGHLIGHTS INVESTMENT HIGHLIGHTS § Demonstrated track record of growth supported by a strong 10-year revenue CAGR Sustainable Revenue § Focus on organic growth in markets with the highest potential for non-destructive excavation adoption Growth § Growth is supported by regional and nat
Slide 8: Long-Term Opportunity to Scale
2) INVESTMENT HIGHLIGHTS LONG-TERM OPPORTUNITY TO SCALE § We believe a mature, non-destructive excavation 2x market across North America includes 7x-9x more 5% 1x units than are operating today 1% 9x 25% § Each of our markets have a different opportunity set, and our planning and investments are bei
Slide 9: Our Approach as Industry Leaders
2) INVESTMENT HIGHLIGHTS OUR APPROACH AS INDUSTRY LEADERS LOW GROWTH OPPORTUNITY HIGH GROWTH OPPORTUNITY Strategic Markets HIGH 500-1,500 Truck Market Potential per Location • Significant organic growth opportunity with higher barriers to entry • Currently operating in 8 out of 8 Strategic Markets ~
Slide 10: Manufacturing Advantage
3) STRATEGIC ADVANTAGES MANUFACTURING ADVANTAGE Dedicated design and manufacturing capabilities drive innovation, ROIC and asset availability Non-Destructive Excavation Unit Retirement & New Build Profile § Plant capacity in Red Deer is currently 350 units/year with initiatives underway to enable hi
Slide 11: National Accounts
3) STRATEGIC ADVANTAGES NATIONAL ACCOUNTS § National Accounts is a new and different approach to leverage our scale for complex customers and a significant competitive advantage for Badger § We are the only non-destructive excavation provider with a North American branch network to leverage National
Slide 12: Liquidity Management
4) LONG-TERM FINANCIAL PRIORITIES LIQUIDITY MANAGEMENT ~$400 million in 5-Year Committed Credit Facilities(1) Ample Financial Covenant Capacity Accordion Feature Available Capacity Credit Facilities Available Capacity Credit Facilities Draws on Credit Facilities Draws on Credit Facilities 4.0x Accor
Slide 13: Capital Allocation Framework
4) LONG-TERM FINANCIAL PRIORITIES CAPITAL ALLOCATION FRAMEWORK Surplus Operational performance generates cash Cash/Capital flow to fund capital investments to support growth Organic Capital investments focused on organic Growth growth initiatives and enhancing operational performance Acquisitive inv
Slide 14: Efficient. Safe. Reliable.
EFFICIENT. SAFE. RELIABLE. INFRASTRUCTURE SOLUTIONS
Slide 15: Contact Information
Trevor Carson, CFA VP Investor Relations & Corporate CONTACT Development INFORMATION tcarson@badgerinc.com ir.badgerinc.com
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