Gfl Environmental Inc · TSX:GFL
Gfl Environmental — Q3 2020 Earnings Presentation
13 slides from Gfl Environmental's earnings presentation, Nov 5, 2020
Slide 1: Q3 2020 Investor Review
Q3 2020 Investor Review November 5, 2020
Slide 2: Disclaimer
Disclaimer Unless otherwise indicated, all references in this presentation to ‘‘GFL,’’ ‘‘we,’’ ‘‘our,’’ ‘‘us,’’ ‘‘the Company’’ or similar terms refer to GFL Environmental Inc. and its consolidated subsidiaries. Forward-looking Information This presentation contains “forward-looking information” wit
Slide 3: Q3 Highlights
Q3 Highlights Q3: Financial Results • Second sequential quarter with highest ever reported revenue, adjusted EBITDA and adjusted EBITDA margin • Revenue of $1,036.0 million, increase Solid Waste 72% of 15.4% • Adjusted EBITDA(1) of $281.2 million, increase of 24.6% o Adjusted EBITDA margin of 27.1
Slide 4: Our Roadmap
Our Roadmap IPO Messages Focus Areas Going Forward Use proceeds of IPO to delever Integration of acquisitions Improve margins Continue to improve operating margins Execute strategic acquisitions Continue tuck in M&A program • Close two larger acquisitions • No larger acquisitions on horizon • Tuck i
Slide 5: Q3 Growth
Q3 Growth Solid Waste Three months ended September 30, 2020 Contribution Total • 2.5% positive organic growth Organic Foreign from Revenue Acquisitions Growth Exchange Growth o 3.5% net price and surcharges partially offset by Solid waste: 1.7% negative volume (primarily ICI collection/post- Canad
Slide 6: Operating Segment Breakdown
Operating Segment Breakdown (C$ millions unless otherwise noted) Solid Waste Three months ended September 30, 2020 2019 • 240 bps margin expansion Adjusted Adjusted Adjusted Adjusted o Margin improvement in both geographies Revenue (1) EBITDA Revenue (1) EBITDA EBITDA EBITDA Margin Margin o Realiz
Slide 7: Cash Flow Highlights
Cash Flow Highlights (C$ millions unless otherwise noted) Operating activities Three months ended September 30, Change • 214% increase in cash flows from operating activities 2020 2019 $ % • Results inclusive of non-linear cash interest cost cadence Cash flows from operating activities Cash flows
Slide 8: Net Leverage and Liquidity
Net Leverage and Liquidity (C$ millions unless otherwise noted) Delevered balanced sheet Q3-20 at • IPO proceeds used to pay down debt Q3-20 (1) Q4-19 12/31 FX • Historically H1 is a use of cash driven by seasonality and Revolver 20.0 20.0 - front end loading of capital expenditures Term loan faci
Slide 9: Appendix
Appendix
Slide 10: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (C$ millions unless otherwise noted) 1. (Gain) loss on foreign exchange: Consists of (i) non-cash gains and losses Three months ended Nine months ended on foreign exchange and interest rate swaps entered into in connection with September 30, September 30, our debt inst
Slide 11: Adjusted Net Income (Loss) Reconciliation
Adjusted Net Income (Loss) Reconciliation (C$ and shares in millions unless otherwise noted) 1. Amortization of intangibles:This is a non-cash item and consists of the Three months ended Nine months ended amortization of intangible assets such as customer lists, municipal contracts, September 30, Se
Slide 12: Pro Forma Geographic Footprint
Pro Forma Geographic Footprint
Slide 13: Definitions
Definitions Adjusted EBITDA: Is calculated by adding and deducting, as applicable, certain expenses, costs, charges or benefits incurred in such period which in management’s view are either not indicative of underlying business performance or impact the ability to assess the operating performance