Mirion Technologies, Inc. · NYSE:MIR
Mirion Technologies — Q1 2024 Earnings Presentation
21 slides from Mirion Technologies's earnings presentation, May 1, 2024
Slide 1: First Quarter 2024 Earnings Presentation
May 1, 2024 First Quarter 2024 Earnings Presentation
Slide 2: Disclaimer
Q1 2024 EARNINGS PRESENTATION Disclaimer Forward-Looking Statements This presentation and the accompanying oral commentary (this “presentation”) contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate,” “belie
Slide 3: Key Messages
Q1 2024 EARNINGS PRESENTATION • Customer engagement strong across all end markets; Adjusted Order Decline of ~(1)% compared to Q1 2023 • Consolidated Q1 Organic Revenue Growth of +5.5%; Medical +0.6% and Technologies +8.4% Key Messages • Adjusted EBITDA of $39.5M in Q1 2024, Adjusted EBITDA margin o
Slide 4: Mirion | First Quarter Ended March 31, 2024
Q1 2024 EARNINGS PRESENTATION Mirion | First Quarter Ended March 31, 2024 Revenue Adjusted Gross Profit Margin Adjusted EBITDA and Margin Adjusted EPS $ millions | % percentage % percentage | basis points $ millions | % percentage $ millions % 1Q24 vs. 1Q23 Organic +5.5% Higher Adjusted EBITDA Offse
Slide 5: Medical | First Quarter Ended March 31, 2024
Q1 2024 EARNINGS PRESENTATION Medical | First Quarter Ended March 31, 2024 Revenue Adjusted EBITDA and Margin $ millions | % percentage $ millions | % percentage % 1Q24 vs. 1Q23 Organic +0.6% MEDICAL SEGMENT Acquisition -0.1% FX +0.1% Strong top-line performance from RTQA and Total +0.6% Occupationa
Slide 6: Technologies | First Quarter Ended March 31, 2024
Q1 2024 EARNINGS PRESENTATION Technologies | First Quarter Ended March 31, 2024 Revenue Adjusted EBITDA and Margin $ millions | % percentage $ millions | % percentage % Organic 1Q24 vs. 1Q23 +8.4% TECHNOLOGIES SEGMENT Acquisition +0.0% FX +0.3% Top-line growth driven by strong quarter from Total +8.
Slide 7: Leverage, Liquidity and Adjusted Free Cash Flow
Q1 2024 EARNINGS PRESENTATION Leverage, Liquidity and Adjusted Free Cash Flow ($ millions) 1Q23 1Q24 ▪ Adjusted free cash flow of $(4.5)M in 1Q24 compared to $(7.2)M in 1Q23 Net cash provided by operating activities $(2.7) $6.0 ▪ Expect positive adjusted free cash flow for the Purchases of PPE and b
Slide 8: Reaffirmed Guidance for 2024
Q1 2024 EARNINGS PRESENTATION Reaffirmed Guidance for 2024 Category1 Guidance What we are seeing and our expectations • Strong customer engagement and backlog coverage Revenue Growth 5% to 7% • Changes in foreign exchange expected to have minimal impact Organic Revenue Growth2 4% to 6% • Net inorgan
Slide 9: Appendix
Q1 2024 EARNINGS PRESENTATION Appendix 9
Slide 10: Backlog Trend | 1Q22 – 1Q24
Q1 2024 EARNINGS PRESENTATION Backlog Trend | 1Q22 – 1Q24 ($ millions) Backlog Excl Hanhikivi Hanhikivi $857 $841 $799 $753 $743 $737 $741 $722 $67 $693 $686 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 Note: Backlog figures on an as reported basis. Backlog figures include acquisitions of SIS after
Slide 11: 2-Year Revenue Growth Stacks
Q1 2024 EARNINGS PRESENTATION 2-Year Revenue Growth Stacks Organic Revenue Growth Reported Revenue Growth Total Company Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY a 2024 5.5% a 2024 5.8% b 2023 7.9% 8.4% 17.3% 5.3% 9.3% b 2023 11.6% 12.2% 18.8% 5.7% 11.6% c 2022 (4.2)% (1.7)% 9.0% 19.1% 5.7% c 2022 (4.3)% (4.3)%
Slide 12: Nine Quarter Segment Reconciliation – Medical
Q1 2024 EARNINGS PRESENTATION Nine Quarter Segment Reconciliation Medical 12
Slide 13: Nine Quarter Segment Reconciliation – Technologies
Q1 2024 EARNINGS PRESENTATION Nine Quarter Segment Reconciliation Technologies 13
Slide 14: Nine Quarter Segment Reconciliation – Corporate & Other
Q1 2024 EARNINGS PRESENTATION Nine Quarter Segment Reconciliation Corporate & Other 14
Slide 15: Nine Quarter Segment Reconciliation – Consolidated
Q1 2024 EARNINGS PRESENTATION Nine Quarter Segment Reconciliation Consolidated 15
Slide 16: Non-GAAP Reconciliations
Q1 2024 EARNINGS PRESENTATION Non-GAAP Reconciliations Consolidated – Income from Operations, Gross Profit & Adjusted EBITDA 16
Slide 17: Non-GAAP Reconciliations: Adjusted Earnings per Share
Q1 2024 EARNINGS PRESENTATION Non-GAAP Reconciliations Adjusted Earnings per Share 17
Slide 18: Non-GAAP Reconciliations: Adjusted Order Growth (Decline)
Q1 2024 EARNINGS PRESENTATION Non-GAAP Reconciliations Adjusted Order Growth (Decline) a b a-b=c c/b=d Three Months Ended Three Months Ended ($ in millions) March 31, 2024 March 31, 2023 Variance ($) Variance (%) Total Orders $ 182.0 $ 184.0 $ (2.0) -1.1% 2 Adjustment for ec Acquisition (3.1) - Adju
Slide 19: Share Count Details
Q1 2024 EARNINGS PRESENTATION Share Count Details Outstanding Securities Fully Diluted Share Description (As of March 31, 2024) (Illustrative)2,3,4 Notes Shares of Class A Common Stock – Public 199,985,333 199,985,333 ▪ Outstanding shares as of close of trading on the New York Stock Exchange (NYSE)
Slide 20: Footnotes to Share Count and Adjusted Metrics
Q1 2024 EARNINGS PRESENTATION Footnotes to Share Count and Adjusted Metrics Share Count 199,985,333 shares of Class A common stock were outstanding as of March 31, 2024. This excludes (1) 7,326,423 shares of Class B common stock outstanding as of March 31, 2024 (2) 18,750,000 founder shares which ar
Slide 21: Mirion
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