V2x, Inc. · NYSE:VVX
V2x — Vectrus — FY2020 Earnings Presentation
20 slides from V2x's earnings presentation, Mar 2, 2021
Slide 1: Fourth Quarter & Full Year 2020 Results
VECTRUS FOURTH QUARTER & FULL YEAR 2020 RESULTS CHUCK PROW – PRESIDENT AND CHIEF EXECUTIVE OFFICER SUSAN LYNCH – SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER MARCH 2, 2021
Slide 2: Safe Harbor Statement
Safe Harbor Statement SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 (THE “ACT"): CERTAIN MATERIAL PRESENTED HEREIN INCLUDES FORWARD-LOOKING STATEMENTS INTENDED TO QUALIFY FOR THE SAFE HARBOR FROM LIABILITY ESTABLISHED BY THE ACT. THESE FORWARD- LOOKING STATEMENTS I
Slide 3: Full-Year and Q4 2020 Highlights
Full-Year and Q4 2020 Highlights Delivered high operational readiness for National Security missions and supported DoD critical infrastructures throughout the pandemic Strong 2020 cash flow generation, representing ~140% conversion 2020 revenue of $1.396 billion up 1% y/y; COVID-19 impact of (
Slide 4: Leader in the Converged Infrastructure Market
Leader in the Converged Infrastructure Market Naval Base Coronado 5G Smart Warehouse – Part of the DoD’s 5G experimentation and testing at five U.S. military test sites Strategic Significance – Vectrus will provide industry-leading inventory management, network security, robotic material moving,
Slide 5: Enhancing the Foundation
Enhancing the Foundation Record Backlog of $5.1B Record Backlog – Backlog of $5.1B, the highest level in the company’s history and provides visibility over the next several $6.0 years $5.1 OMDAC-SWACA and LOGCAP V Improve $5.0 Long-Term Visibility $4.0 – Enhanced by the successful recompete wins
Slide 6: Expanding the Portfolio
Expanding the Portfolio 2016 Revenue 2020 Revenue Navy Campaign Progress 2% 5% Navy revenue up ~22% year-over-year 5% in 2020 14% – Client campaigns include a tailored attack plan with 21% differentiated value proposition – Harnessing capabilities across the Vectrus portfolio to deliver innovative
Slide 7: Expanding the Portfolio
Expanding the Portfolio New Business Pipeline New Business Makeup $12.0 $11.1 Army $10.0 $8.0 $7.5 Navy $9.1 $6.0 Air Force $6.0 $4.0 Intel & $2.0 Other DoD $1.5 $2.0 $- Federal 12/31/2016 12/31/2020 Civilian Submitted Plan to Submit Significant Pipeline of Opportunities to Drive Future Expansion
Slide 8: Expanding the Portfolio
Expanding the Portfolio Vectrus’ capabilities and technology-based solutions are resulting in important new awards which support future margin expansion OASIS Pool 1: – Vectrus was awarded a position on a “Best in Class” General Services Administration, Multiple Award Contract, IDIQ vehicle. – Thi
Slide 9: Adding More Value
Adding More Value Zenetex and HHB enhance our capabilities to deliver a more integrated and comprehensive suite of solutions to our clients globally. $200M+ Strengthens position as leading fully-integrated provider in the converged infrastructure market: – Brings integrated security capabilities t
Slide 10: Q4'20 Financial Results
Q4’20 Financial Results Revenue ($M) Adj. EBITDA Margin1 Adj. Diluted EPS1 $25.8 $0.10 0.1% - $365.2 5.0% $1.18 $355.3 4.9% $0.93 Q4'19 Q4'20 Q4'19 Q4'20 Q4'19 Q4'20 Adjusted results1 COVID-19 impact Revenue decreased $9.9 million yr/yr, Record Adj. EBITDA margin1 of 5.0% Adj. diluted EPS1 of
Slide 11: Full Year Financial Results
Full Year Financial Results Revenue ($M) Adj. EBITDA Margin1 Adj. Diluted EPS1 $63 $0.39 0.2% 4.3% $1,383 $1,396 $3.07 $3.07 4.0% 2019 2020 2019 2020 2019 2020 Adjusted results1 COVID-19 impact Revenue increased $13.0 million Adj. EBITDA margin1 of 4.0% Adj. diluted EPS1 of $3.07 yr/yr, or 1.0
Slide 12: Solid Backlog and Book-to-Bill
Solid Backlog and Book-to-Bill Backlog1 ($B) Trailing 12-Month Book-to-Bill Ratio $5.5 $5.1 $ 0.4 2.4 x $4.1 $3.8 2.1 x $3.7 $2.7 $ 4.2 $ 4.2 1.5 x 1.5 x 1.4 x $ 3.0 $ 2.9 $ 2.7 $ 2.0 0.8 x $ 0.7 $ 1.0 $ 0.9 $ 1.0 $ 0.9 $ 0.9 4Q'19 1Q'20 Q2'20 Q3'20 Q4'20 Q4'20 4Q'19 1Q'20 Q2'20 Q3'20 Q4'20 Q4'20 Pr
Slide 13: Cash Flow and Liquidity
Cash Flow and Liquidity Twelve months ended Q4 $M 2019 2020 $ yr/yr change % yr/yr change YTD Net Cash Provided by (Used in) Operating Activities $27.6 $64.1 $36.5 133% 2 Cash $35.3 $66.9 $31.6 90% Receivables $269.1 $315.0 $45.9 17% Debt $70.5 $179.0 $108.5 154% 1 Net Debt $35.2 $112.1 $76.9 218% L
Slide 14: 2021 Guidance
2021 Guidance 2021 2021 2020 2020 to $millions, except per share data Guidance Mid-point Actual 2021 % Var Revenue $1,645 — $1,715 $1,680 $1,396 $284 20.3% Adjusted EBITDA Margin1 (%) 4.6% — 5.0% 4.8% 4.0% 80bps Adjusted Diluted Earnings Per Share1 $3.48 — $4.08 $3.78 $3.07 $0.71 23.1% Net Cash Prov
Slide 15: Appendix
Gf APPENDIX \VECTRUS TRUE TO YOUR MISSION
Slide 16: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures The primary financial performance measures we use to manage our business and monitor results of operations are revenue trends and operating income trends. In addition, we consider adjusted operating income, adjusted operating margin, adjusted net income, adjusted
Slide 17: Reconciliation Of Non-GAAP Measures
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Slide 18: Reconciliation Of Non-GAAP Measures
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Slide 19: Reconciliation Of Non-GAAP Measures
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Slide 20: Reconciliation Of Non-GAAP Measures
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