Ats Corporation · TSX:ATS
Ats — Q4 2023 Earnings Presentation
14 slides from Ats's earnings presentation, May 18, 2023
Slide 1: Q4 2023 Earnings Call
Q4 2023 Earnings Call May 18, 2023 8:30am ET
Slide 2: Today's Hosts / Forward Looking Statements
Today's Hosts Andrew Hider Ryan McLeod Chief Executive Officer Chief Financial Officer Forward Looking Statements Note to Reader: This presentation and the oral statements made during this call may contain certain statements that constitute forward-looking information within the meaning of applicabl
Slide 3: Non-IFRS Measures and Other IFRS Measures
Non-IFRS Measures and Other IFRS Measures Throughout this presentation management uses certain non-IFRS financial measures, non-IFRS ratios and supplementary financial measures to evaluate the performance of the Company. The terms “EBITDA”, “organic revenue”, “adjusted net income”, “adjusted earning
Slide 4: Highlights
Highlights ATS delivered solid annual and 4th quarter performance despite supply chain and inflationary pressures ▪ Q4 Order Bookings¹ (up ~16% y/y) to $737MM ▪ Record Order Backlog1 (up ~50% y/y) to $2,153MM ▪ Record Q4 revenues (up ~21% y/y) to $730.8MM ▪ Q4 Adj. Earnings from Operations Margin¹ 1
Slide 5: Outlook
Outlook ▪ Order Backlog1 in our key markets provides a strong base for fiscal 2024 • Life Sciences $761MM, funnel remains strong with several key repeat customer wins • Transportation $939MM, key win with a new customer and important entry order with another OEM • Food and Beverage $215MM, strong Q4
Slide 6: Financial Results
Financial Results Y/Y Y/Y Y/Y Y/Y Order Backlog1 (C$ mm, except per share Q4 Q4 Change Change F2023 F2022 Change Change data) F2023 F2022 ($) (%) ($) (%) Revenues $730.8 $603.2 $127.6 21.2% $2,577.4 $2,182.7 $394.7 18.1% Revenue Growth: QTD YTD Earnings from operations 51.9 59.8 (7.9) (13.2)% 222.5
Slide 7: Summary
Summary ▪ Record revenues, and Order Backlog1 combined with solid Order Bookings1 ▪ Positive activity levels across strategic end-markets ▪ Two acquisitions finalized and previous acquisitions adding value ▪ Estimated Q1-F24 Order Backlog1-to-revenue conversion 32% to 35% ▪ ABM continues to drive co
Slide 8: ATS
ATS
Slide 9: MATS
MATS
Slide 10: Appendix
Appendix Reconciliation of Non-IFRS Measures to IFRS Measures 10
Slide 11: Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures
Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures (C$ mm) YTD YTD (C$ mm) Q3 Q4 Q1 Q2 Q3 Q4 Q4 F2023 Q4 F2022 F2023 F2022 F2022 F2022 F2023 F2023 F2023 F2023 Adjusted EBITDA $118.2 $94.9 $401.2 $359.5 LTM Order Bookings $2,281 $2,456 $2,555 $2,849 $3,157 $3,256 Restructuring charges 15.
Slide 12: Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures
Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures (C$ mm) Q4 Q4 YTD YTD (C$) YTD YTD Q4 F2023 Q4 F2022 F2023 F2022 F2023 F2022 F2023 F2022 Adjusted earnings from operations $101.9 $81.6 $343.4 $308.0 Basic earnings per share $0.32 $0.44 $1.39 $1.32 Restructuring charges 15.8 1.9 27.5 5.
Slide 13: Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures
Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures (C$ mm) (C$ mm) Q4 Q4 YTD YTD F2022 F2023 F2023 F2022 F2023 F2022 Cash and cash equivalents $135.3 $159.9 Cash flows provided by operating activities $81.4 $30.0 $127.8 $216.2 Bank indebtedness (1.8) (5.8) Acquisition of property, plant
Slide 14: Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures
Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures (C$ mm) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 F2022 F2022 F2022 F2022 F2023 F2023 F2023 F2023 Total stock-based compensation expense $8.8 $10.5 $12.7 $0.8 $(4.0) $5.3 $9.9 $19.3 Less: Mark to market portion of stock-based 6.4 6.1 7.3 (4.2) (8.3) 1.0 5