Icf International, Inc. · NASDAQ:ICFI
Icf International — Baird 2021 Virtual Global Consumer, Technology & Services Conference
29 slides from Icf International's conference presentation, Jun 7, 2021
Slide 1: ICF Investor Presentation
‘ ICF Investor: Presentation sz Baird 2021 Virtual Global Consumer, Technology & Services Conference “ICE Presented by: John Wasson, Chairman and CEO & Bettina Welsh, CFO
Slide 2: Cautionary Statement
Cautionary Statement Certain statements made by us in this presentation that are not historical facts or that relate to future plans, events, or performances are forward-looking statements within the meaning of the federal securities Jaws. Our actual results may differ materially from those expresse
Slide 3: ICF: A professional + technology services firm
ICF: A professional + technology services firm Serve a roster of government clients with social + environmental missions, energy utilities + commercial clients Leverage deep domain expertise to achieve superior results for clients Deliver strong cross-cutting capabilities in technology + engagement
Slide 4: Synergy in markets + capabilities
Synergy in markets + capabilities ICF’s work across core service areas including climate, energy efficiency, disaster management, public health and social programs addresses environmental and social issues Health + Social Programs - Advisory + Strategy Program Management Technology, Analytics + Enga
Slide 5: Track record of strong revenue + EPS growth
Track record of strong revenue + EPS growth a a Revenue: Non-GAAP EPS: 5-year CAGR 5-year CAGR 5.9% 9.6%
Slide 6: Multiple catalysts for long-term organic growth
Multiple catalysts for long-term organic growth + IT modernization * Public health * Disaster management + Energy efficiency + utility consulting * Environment + infrastructure consulting * Climate and resiliency ~55% of our 2020 service revenue represented work in these key growth areas, which we e
Slide 7: IT modernization
IT modernization ion, completed January 2020, significantly expanded our qualifications in this area Won over $300M in IT Current pipeline of qualified Expect pipeline to increase modernization contracts opportunities in this market of because IT modernization in 2020 ~$1.3B* is a bipartisan priorit
Slide 8: Public health
Public health * HHS is ICF’s largest federal agency client — 18% of total revenues* * ICF has contract vehicles in all federal agencies actively involved in COVID-19 Awarded over $45M of Opportunities in Recovery + COVID-19 Response-related Reinvent phases:" -» work as of Q1 2021 * Modernization’of
Slide 9: Disaster management
Disaster management ICF is a leader in disaster management with a long track record of managing post- hurricane federally funded recovery programs New federal funding for mitigation programs provides potential for steady flow of longer- term opportunities Currently running Working on early stage Exp
Slide 10: Energy efficiency and utility consulting
Energy efficiency and utility consulting Energy efficiency programs for $60M+ in new awards from Utility transformation: distributed energy Majority long-term utilities: State-mandated CA utilities + grid modernization contracts [ tocation of ce cients
Slide 11: Biden administration priorities create additional opportunities
Biden administration priorities create additional opportunities * Overarching goal of decarbonizing U.S. economy * Rejoined Paris Climate Accord * Focus on climate change, environmental stewardship, and infrastructure * Mandate that climate be considered in every major decision across government ICF
Slide 12: We serve a roster of government clients, energy utilities + commercial clients
We serve a roster of government clients, energy utilities + commercial clients* US Federal US State + Local 45% 14% >80% of revenues from government clients + energy utility clients Provides significant opportunities for expansion Commercial Non-US Government 34%** 7%
Slide 13: We work with a broad array of government clients
We work with a broad array of government clients Government revenues 66% of total revenues* US federal revenues primarily from civilian agencies US State + DHHS 18% Local 14% DOD 6% Dos 5% EPA 3% GSA2% FCC 1% por 1% Commercial 3a%ee Other Fed 9% Non-US Government 7%
Slide 14: ICF Next: our go-to-market brand for digital transformation services
+xXoU ICF Next: our go-to-market brand for digital transformation services i Ww Technology Analytics Combines creativity of an agency with deep domain expertise of a consultancy D> Engagement Designs solutions that drive real participation with customers, citizens, colleagues a a Strategy Loyalty Bu
Slide 15: Drivers of long-standing client relationships
Drivers of long-standing client relationships Institutional memory Workforce of of government long-time + utility programs industry experts ee Long-term contract vehicles with = F
Slide 16: Values and purpose
To build a me world for all. Values Interact with integrity ing your passion abrace differences
Slide 17: At ICF, our business, environmental + social responsibilities are intertwined
At ICF, our business, environmental + social responsibilities are intertwined $615M+* $670M+« We create impact through our client Revenue from services Revenue from services supporting energy saving, supporting health, work... ; ; carbon reduction, and education, development, and natural resource pr
Slide 18: ...and in the way we operate
.-andiin the way we sgperate Setting, ience-| based » Investing in the oiaiect reduce communities where we “carbon emissions— _work and live “Nets zero carbon te since 2006 Ensuring value through governance—corporate policies and structure help us operate ethically and in compliance with the law
Slide 19: Our people: 2020 performance highlights
‘our people p: 2020 performance highlights Provided opportuni Leadership Pay equity for all employees to develop 54% female leaders no identified meaningful and advance: disparities across races or 25% female board genders in the same roles members* Made progress on our 100% 31% carbon reduction goa
Slide 20: Financial Performance
Slide 21: Track record of consistent revenue + earnings
Track record of consistent revenue + earnings Revenue ($ Millions) EPS sisse =GAAPEPS — mNon-GAAP Adj* $1.22: TTL . lL Pes 2015 2016 ©2017-2018. 2018-2020 *Non-GAAP EP $2017 Non-6 \P EPS plus tacaffected Impact of acqulsition-elated charges, special charges, a PS Judes the one-time benefit of Deferr
Slide 22: Q1 2021 performance
Q1 2021 performance Revenue ($ Millions)* Eps* $600 $2.00 $500 $1.50 $400 $358.2 $3785 $300 $1.00 $200 $0.50 £100; $0.00 | 2020 qi 2021 I Total Revenue “Senvcerevenve I equal to total revenve less subcontractor and ther direct costs exliding dre labor and ngs on-GAAP EPS: GAAP EPS plus taaffected im
Slide 23: Contract awards and backlog
Contract awards ($ Millions)* Backlog ($ Billions)* Book-to-bill ratio (TTM) 12020 1.06 a1 2021 1.44 = Funded = Unfunded $900 $2.7 $596 $600 | $300 $0 . au 2020 ai 2021 Qi 2020 *Based on Q1 2021 financial performance released on May 4, 2021 Fa
Slide 24: 2021 guidance
Revenue Service revenue GAAP EPS Non-GAAP EPS Operating cash flow ~$100M 3 Fier iz i = e © 2 e e e
Slide 25: Pipeline ($B)
Pipeline ($B) TTT 24g 34s) ats att9 9349920020) Strong pipeline of qualified opportunities, the majority relating to federal government clients
Slide 26: Operating cash flow, 2016 - 2021
Operating cash flow, 2016 - 2021 $M Net Debt EBITDA Net Debt/ EBITDA Dividends = Debt Repayment Other = Share Repurchase = CAPEX $173.1 $117.2 100.0 $914 2 $80.1 ea 2017 2019 2020 2021 GUIDANCE*
Slide 27: Historical cash flow conversion at ~100%
Historical cash flow conversion at ~100% * Over the past five years, we have had very strong cash conversion of our net income (adjusted for non-cash items) and generated strong Operating Cash Flow... + «While growing our top line from $1.18 in 2015 to $1.5B in 2020 at a 5.9% CAGR (which required an
Slide 28: In summary — ICF offers:
In summary — ICF offers: Distinctive expertise in high-growth sectors of government, energy utility industry + digital transformation Established long-term client and contract relationships + substantial contract backlog Strong environmental, social, + governance performance— internally + for client
Slide 29: ICF
2 7ICF £8 linkedin.com/company/icf-international/ ©) twitter.com/ict icf.com EG} https:/www.facebook.com/ThislsiCF/ About ICF ICF (NASDAQ:ICF) is a global consulting and digital services company with over 7,000 full- and part-time employees, but we are not your typical consultants. At ICF, business
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