Finning International Inc. · TSX:FTT
Finning International — Q4 2024 Earnings Presentation
13 slides from Finning International's earnings presentation, Feb 5, 2025
Slide 1: Q4 2024 Results
Q4 2024 Results Kevin Parkes Greg Palaschuk President and CEO EVP and CFO February 5, 2025 See slides 11 and 12 for important information on forward-looking information, currency, and specified financial measures, including non- GAAP financial measures
Slide 2: Executing our Strategy
Executing our Strategy International FY 2024 Net Revenue (1) FY 2024 Net Revenue (2) Equipment Backlog (1) $10.1B $4.9B $560M Up 6% vs FY 2023 Up 9% vs FY 2023 Dec 2024 vs Dec 2023 Product Support Full Cycle Resilience Sustainable Growth Product Support SG&A Free Cash Used Equipment Power Systems Re
Slide 3: Q4 2024 Results
Q4 2024 Results vs Adjusted Q4 2023(1)(2) Q4 2024 Summary Net Revenue ▪ Strong momentum and healthy customer activity in the mining and power $2.6B 7% sectors ▪ Diligent execution of strategy across all regions: ▪ South America achieved 10% year over year growth in product support revenue EBIT ▪ Can
Slide 4: Q4 2024 Net Revenue
Q4 2024 Net Revenue All comparisons are to Q4 2023 results unless indicated otherwise Net Revenue by Line of Business Q4 2024 Revenue Highlights $ millions ▪ New equipment sales up 12%, driven by strong mining 2,579 deliveries in South America and power project activities 5 in UK & Ireland 1 81 (13)
Slide 5: Q4 2024 EBIT
Q4 2024 EBIT All comparisons are to Q4 2023 results unless indicated otherwise EBIT (1) $ millions Q4 2024 EBIT Highlights 232 ▪ Gross profit as a % of net revenue (3) of 24.5% down 140 223 (2) bps primarily due to a high proportion of lower margin (14) 3 4 mining equipment deliveries ▪ SG&A as a %
Slide 6: Q4 2024 Results – South America
Q4 2024 Results – South America Net Revenue Adjusted EBIT Adjusted ROIC $ Millions $ Millions, as a % of Net Revenue 1000 952 948 27.6% 20.0% 12.6% 10.9% 10.9% 15.0% 26.5% 25.9% 805 800 10.0% 129 102 104 103 5.0% 0.0% 600 86 -5.0% -10.0% 400 -15.0% 43 -20.0% -25.0% 200 0 -30.0% Q4 2023 Q3 2024 Q4 20
Slide 7: Q4 2024 Results – Canada
Q4 2024 Results – Canada Net Revenue Adjusted EBIT Adjusted ROIC $ Millions $ Millions, as a % of Net Revenue 20.0% 24.0% 1,254 1,259 1,252 9.7% 8.1% 19.0% 180 7.5% 18.0% 10.0% 15.5% 15.1% 122 0.0% 101 120 94 12.0% -10.0% 6.0% 60 -20.0% 0 -30.0% 0.0% Q4 2023 Q3 2024 Q4 2024 Q4 2023 Q3 2024 Q4 2024 Q
Slide 8: Q4 2024 Results – UK & Ireland
Q4 2024 Results – UK & Ireland Net Revenue Adjusted EBIT Adjusted ROIC $ Millions $ Millions, as a % of Net Revenue 379 344 6.3% 5.8% 328 10.0% 2.7% 15.0% 5.0% 15.0% 22 20 12.3% 24 0.0% 11.5% 11.0% -5.0% -10.0% 12 9 -15.0% -20.0% 7.0% -25.0% 0 -30.0% 3.0% Q4 2023 Q3 2024 Q4 2024 Q4 2023 Q3 2024 Q4 2
Slide 9: 2023 Investor Day Invested Capital Improvements Plan Update
2023 Investor Day Invested Capital Improvements Plan Update (1) Invested Capital Opportunities Status Update ▪ Low ROIC activities ▪ Continue to evaluate opportunities Exit | Optimization ▪ Minority equity positions ▪ Continue to evaluate opportunities >$125M ✓ Completed in Q4 2024 ▪ Pension optimiz
Slide 10: 2024 Recap
2024 Recap Growth Resiliency Returns A stronger company growing Demonstrated resiliency and Expanded earnings capacity with population, capacity and capability maintained healthy balance sheet strong shareholder returns Total Employees Net Revenue Share Repurchases Dividends Paid Free Cash Flow in $
Slide 11: Disclosures
Disclosures Forward-looking information This presentation includes “forward-looking information” (as defined in applicable Canadian securities legislation) that is based on expectations, estimates and projections that we believe are reasonable as of the date of this presentation, but may ultimately
Slide 12: Disclosures
Disclosures Currency Monetary amounts referred to in this presentation are in Canadian dollars unless noted otherwise. All variances and ratios in this presentation are based on the functional currency of each operation (Canada: CAD, South America: USD, UK & Ireland: GBP). These variances and ratios
Slide 13: 2025 Earnings Schedule
2025 Earnings Schedule All dates and times are preliminary and subject to change Release Date Investor Call Time Quarter Investor Call Date after market close Eastern Q1 2025 May 12, 2025 May 13, 2025 10:00 AM Q2 2025 August 5, 2025 August 6, 2025 10:00 AM Q3 2025 November 11, 2025 November 12, 2025
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