ICF International, Inc. · NASDAQ:ICFI
ICF International — Barrington Research Spring Conference 2014
27 slides from ICF International's conference presentation, May 21, 2014
Slide 1: Investor Presentation
Investor Presentation Barrington Research Spring Conference May 21, 2014
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 laws. Our actual results may differ materially from those expresse
Slide 3: Introducing ICF
Introducing ICF The “Go‐To” Firm for Domain‐Driven Advisory and Implementation Work Leading Provider of Advisory and Program Management Services Track Record of Above Diverse Portfolio of Industry Growth and Corporate, Government, Successful Acquisitions and International Clients Scale in Each of Ou
Slide 4: Industry Leading Domain Knowledge
Industry Leading Domain Knowledge Revenue Sources by Market Quarter Ended 3/31/2014 Health, Social Programs, Energy, Environment, and Consumer/Financial and Infrastructure Public health research Energy efficiency program and evaluation HSF EEI management Health informatics Energy infrastruct
Slide 5: Key Issues Drive Demand for Our Services
Key Issues Drive Demand for Our Services Health, Social Programs, Energy, Environment, Public Safety and Defense and Consumer/Financial and Infrastructure Disease prevention, obesity, Energy efficiency and clean Protecting critical mental health energy development infrastructure Improvement
Slide 6: ICF's Business Advantages
ICF’s Business Advantages Revenue by Client Quarter Ended 3/31/2014 Diversified portfolio US Federal 53% includes corporate, HHS government, and 18% international clients Commercial 28% Well positioned with 7% DOS domain expertise on critical long‐term issues 6% DOD Minimal client Non‐US 9% 4%
Slide 7: Our Strategy for Sustainable Growth
Our Strategy for Sustainable Growth Leverage advisory work into full lifecycle solutions Expand our commercial business Replicate our business model geographically Pursue strategic acquisitions 7
Slide 8: Leverage Advisory Work into Full Lifecycle Solutions
Leverage Advisory Work into Full Lifecycle Solutions Client Mission and Needs Advise Implement Improve Economic and Financial Business Process Benchmarking Energy, Analysis Operations and Customer Satisfaction Management Optimization Environment, and Performance Infrastructure Consulting
Slide 9: Energy Efficiency Program Implementation
EXPAND OUR COMMERCIAL BUSINESS Energy Efficiency Program Implementation Economics are compelling Ratepayer, not taxpayer, funded Market Drivers Utilities are adding new programs rapidly Generally strong political support from both parties Program design and management Customer recruitmen
Slide 10: Energy Infrastructure
EXPAND OUR COMMERCIAL BUSINESS Energy Infrastructure Underinvestment in this sector for decades US Energy infrastructure needs $1.5 trillion in expansion/upgrades by 2030* Market Drivers Nearly $100 billion in gas infrastructure needed by 2025* New sources of renewable energy mandated to be
Slide 11: Digital Interactive
EXPAND OUR COMMERCIAL BUSINESS Digital Interactive Growing focus on customer/stakeholder engagement Fundamental shift to customers as individuals Market Drivers Greater reliance on brand awareness Need to leverage web, mobile, social media Solutions to Capture Shifting Personas Combines st
Slide 12: Commercial Health Care
EXPAND OUR COMMERCIAL BUSINESS Commercial Health Care Health care reform and other regulations Public and private exchanges Market Drivers Managing cost of care while improving quality Shift from employer to consumer purchasing Payors Solutions and Benefits Product Manage through reform Tr
Slide 13: ICF International: Office Locations
REPLICATE OUR BUSINESS MODEL GEOGRAPHICALLY ICF International: Office Locations Birmingham London Warsaw Calgary Plymouth Toronto Ottawa Brussels Beijing Fairfax (HQ) New Delhi Hong Kong Bangkok Manila Nairobi Singapore Rio de Janeiro São Paulo 13
Slide 14: Pursue Strategic Acquisitions
Pursue Strategic Acquisitions Strategic Target Multi‐Disciplinary Employee Financial and Integration Identification Due Diligence Retention Cultural Impact Primary Date Target Strategic Rationale Markets Energy & Environmental Jan 2007 EEI Expands energy industry offerings including the leading mode
Slide 15: Mostra Acquisition–Background
REPLICATE OUR BUSINESS MODEL GEOGRAPHICALLY Mostra Acquisition–Background Founded in 1986 as a management‐owned company Based in Brussels with 140 employees Leading strategic communications and public relations provider to European institutions – Fully integrated communications firm, with advi
Slide 16: Mostra combined with ICF creates value
REPLICATE OUR BUSINESS MODEL GEOGRAPHICALLY Mostra combined with ICF creates value: Augments ICF’s growth strategy in Europe, including implementation capabilities Adds breadth and depth to ICF’s European‐based services: – Complementary to ICF’s existing policy and advisory work with the Europea
Slide 17: CITYTECH Acquisitions–Background
EXPAND OUR COMMERCIAL BUSINESS CITYTECH Acquisitions–Background Founded in 2003 as a management‐owned company Based in Chicago with 100 employees A Digital Interactive Consulting Firm – Enterprise application development/implementation – Cloud enablement and managed services – Mobile applicati
Slide 18: CITYTECH combined with ICF creates value
EXPAND OUR COMMERCIAL BUSINESS CITYTECH combined with ICF creates value: Adds depth to ICF Interactive services – an Adobe “Fast Track” strategic implementation partner in North America and Asia‐Pacific Adds managed cloud services – certified on Amazon’s Web Services cloud infrastructure Adds
Slide 19: Financial Performance
INTERNATIONAL Financial Performance icfiicom | Passion. Expertise. Results.
Slide 20: Revenue Trends Q1 2011 – Q1 2014
Revenue Trends Q1 2011 – Q1 2014 ($ Millions) $300 Commercial All Other $240 $238 $232 $234 $242 $244 $245 $228 $230 $213 $219 $214 $195 $65 $61 $66 $66 $69 $200 $52 $59 $67 $67 $69 $48 $54 $41 $100 $165 $167 $169 $175 $177 $165 $167 $176 $178 $176 $154 $160 $161 $0 2011 2012 2013 2014 Q1 Q2 Q3 Q4 Q
Slide 21: Revenue vs. EPS Growth
Revenue vs. EPS Growth Revenue ($ Millions) EPS $1,000 7% CAGR 2.5 12% CAGR $800 2.0 $600 1.5 $937 $949 $400 $841 1.0 $765 $1.91 $1.95 $1.75 $1.38 $200 0.5 $0 0.0 2010 2011 2012 2013 2010 2011 2012 2013 21
Slide 22: Backlog and Pipeline Visibility
Backlog and Pipeline Visibility ($ Millions) $4,000 $3,500 $3.8B $3,000 $2,500 $2,000 $1.6B $1,500 $1,045* $1,045* $1,045* $1,000 $697 $500 $0 Total 2014 Revenue Funded 2014 Active 2014 Backlog Backlog Revenue Pipeline Revenue Q1 Q1 Q1 * Mid‐point of 2014 Revenue Guidance of $1.025B ‐ $1.065B 22
Slide 23: Balance Sheet Highlights
Balance Sheet Highlights ($ Millions) 3/31/2014 12/31/2013 12/31/2012 12/31/2011 Actual Actual Actual Actual Cash and $20.2 $9.0 $14.7 $4.1 Equivalents Working Capital $119.0 $76.1 $91.7 $96.3 Total Assets $802.2 $700.9 $709.7 $694.6 Long‐Term Debt $127.2 $40.0 $105.0 $145.0 Stockholders’ $487.2 $47
Slide 24: P & L Highlights
P & L Highlights 3/31/2014 3/31/2013 12/31/2013 12/31/2012 12/31/2011 Q1 Q1 YTD YTD YTD Revenues $245.1 $233.9 $949.3 $937.1 $840.8 ($ Millions) EBITDA $21.7 $22.8 $85.4 $90.1 $79.3 ($ Millions) EBITDA Margin 8.9% 9.7% 9.0% 9.6% 9.4% Diluted EPS $0.48 $0.51 $1.95 $1.91 $1.75 24
Slide 25: Summary
Summary Professional services firm with large government/commercial client Unique Position base focused on domain areas and technology services—not just generic information technology services Balanced Portfolio Diversity of clients (public/private, all federal agencies, federal/state, domestic/
Slide 26: Thank You
Thank You icfiicom | Passion. Expertise. Results.
Slide 27: ICF
ICF INTERNATIONAL icfiicom | Passion. Expertise. Results.
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