Exco Technologies Limited · TSX:XTC
Exco Technologies — Q1 2023 Earnings Presentation
15 slides from Exco Technologies's earnings presentation, Feb 1, 2023
Slide 1: Q1 F2023 Earnings Call
Q1 F2023 Earnings Call February 1, 2023
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains forward-looking information and forward-looking statements within the meaning of applicable securities laws. We use words such as "anticipate", "may", "will", "should", "expect", "believe", "estimate", “5-year target” and similar expressions to identif
Slide 3: Operations Review
Darren Kirk Chief Executive Officer Operations Review
Slide 4: Q1 F2023 Operations Overview: Automotive Solutions
Q1 F2023 Operations Overview Key Highlights in the Quarter – Automotive Solutions • Overall industry vehicle production estimated up 8% in N.A and up 4% in Europe vs prior year quarter • Production remains constrained by chip shortage and general supply chain issues • Shortages expected to continue
Slide 5: Q1 F2023 Operations Overview: Casting and Extrusion
Q1 F2023 Operations Overview Key Highlights in the Quarter – Casting and Extrusion • Solid demand for large and complex tooling and related solutions • Accelerating adoption of EVs and broader environmental sustainability movements key drivers • Great progress advancing our various growth initiative
Slide 6: Financial Review
Matthew Posno Chief Financial Officer Financial Review
Slide 7: Q1 F2023 Financial Overview
Q1 F2023 Financial Overview Consolidated Results Versus Prior Year Period • Revenue of $139.1M; up $38.1M or 38% compared to $101.0M last year • FX movements increased revenues $6.1M • Halex acquisition added $11.6M of revenue • Revenue was up 20% excluding Halex and FX movements • EBITDA of $15.2M;
Slide 8: Q1 F2023 Financial Overview
Q1 F2023 Financial Overview Consolidated Results Versus Prior Year Period • Casting and Extrusion segment revenues up 50% and EBITDA up 30% (Margin declined to 11% from 13%) • Excluding Halex, segment revenues were up by 25% • Automotive Solutions segment revenues up 27% and EBITDA up 80% (EBITDA Ma
Slide 9: Consolidated Revenue Reconciliation
Q1 F2023 Financial Overview Consolidated Revenue Reconciliation C$ Millions 23 139 15 101 Q1 F22 Automotive Solutions Casting & Extrusion Q1 F23 EXCO TECHNOLOGIES LIMITED | 9
Slide 10: Consolidated Pre-tax Profit Reconciliation
Q1 F2023 Financial Overview Consolidated Pre-tax Profit Reconciliation (Before Interest Expense) C$ Millions (0.1) 0.1 7.7 3.8 3.8 Q1 F22 Automotive Solutions Casting & Extrusion Corporate Q1 F23 EXCO TECHNOLOGIES LIMITED | 10
Slide 11: Automotive Solutions Segment
Automotive Solutions Segment Segment Results increased due to higher and more consistent production volumes C$ Millions C$ Millions Revenue Segment EBITDA Margin Segment EBITDA 80 15% 10 27% 42% 80% 60 10% 40 5 5% 20 0 0% 0 Q1 F22 Q1 F23 Q1 F22 Q1 F23 Q1 F22 Q1 F23 EXCO TECHNOLOGIES LIMITED | 11
Slide 12: Casting & Extrusion Segment
Casting & Extrusion Segment Segment EBITDA increased due to mix and production volumes C$ Millions C$ Millions Revenue Segment EBITDA Margin Segment EBITDA 60 50% 15% (2%) 10 31% 40 10% 5 20 5% 0 0% 0 Q1 F22 Q1 F23 Q1 F22 Q1 F23 Q1 F22 Q1 F23 EXCO TECHNOLOGIES LIMITED | 12
Slide 13: Financial Leverage & Liquidity
Financial Leverage & Liquidity Balance Sheet net leverage of 1.6x as at December 31, 2022 Exco Net Debt 40 • LTM EBITDA of C$59M Long Term Debt 30 Bank Indebtedness/ Other • C$150M committed revolver matures 20 10 Cash February 2025 18 0 6 • Balance sheet net debt of $93M C$ Millions -10 -20 • C$60M
Slide 14: Questions
Questions EXCO TECHNOLOGIES LIMITED | 14
Slide 15: Tradition of Excellence
Tradition of Excellence