corporate overview - wspcdn.wsp-pb.com/l27kvy/ir-june-2017.pdf · overview 5. a well diversified...
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Corporate Overview
June 2017
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We are…
— A leading global professional consulting firm, with revenues from professional services (no construction risk)
— A powerful global brand ranked amongst the best by ENR, with technical leadership in Transportation, Civil Infrastructure and Buildings
— One of the fastest growing firms in our industry
— The engineer behind award-winning projects
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Corporate Overview
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Our Positioning in the Infrastructure and Construction Value Chain
PLANNING DESIGNCONSTRUCTION
SERVICES (Construction/Project
Management)
EQUIPMENT SUPPLIERS
MATERIALS AND ENGINEERED
PRODUCTSWE HAVE A HORIZONTALFEE-FOR-SERVICE MODEL
ARCHITECTS CONTRACTORS AND DEVELOPERS
OPERATION AND MAINTENANCE
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Corporate Overview
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A Global Presence
Figures as at March 31, 2017
ASIA
3,325
AUSTRALIANEW ZEALAND
2,425
MIDDLE EAST INDIA
2,165
NORDICS
4,785
UK IRELAND
6,905
CONTINENTAL EUROPE
695
SOUTHAFRICA
700
US
6,850
CENTRAL &SOUTH AMERICA
750
CANADA
7,600
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Corporate Overview
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A Well Diversified Revenue Base
By operating segment
37%EMEIA
30%AMERICAS
Percentage of net revenues – Based on Fiscal 2016 Results*Includes Industry, Resources and Power & Energy
14%APAC19%
CANADA
By market segment
49%TRANSPORTATION &
INFRASTRUCTURE
31%PROPERTY &BUILDINGS
9%ENVIRONMENT
11%INDUSTRY &
ENERGY*
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A Well Diversified Revenue Base
57%
61%
22%
66%
57%
56%
66%
54%
67%
48%
43%
40%
78%
35%
43%
44%
34%
46%
33%
52%
TOTAL
Australia/NZ
Asia
Central Europe
Africa
Scandinavia
Middle East/India
UK/Ireland
Americas
Canada
Public vs. Private
Public Private
54%
73%
99%
90%
63%
14%
62%
76%
40%
65%
46%
27%
1%
10%
37%
86%
38%
24%
60%
35%
TOTAL
Australia/NZ
Asia
Central Europe
Africa
Scandinavia
Middle East/India
UK/Ireland
Americas
Canada
Fixed-fee vs. Fee-for-service
Fixed-fee Fee-for-service
Corporate Overview
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Corporate Overview
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A Leading International Firm
$-
$1,000.0
$2,000.0
$3,000.0
$4,000.0
1
1
2
Top international design firm
Top international design firm in transportation
Top international design firm in power
3 Top international design firm in buildings
Based on design-specific revenue generated from projects outside each firm's respective home countrySource: ENR Top 225 Global Design Firms/ENR Sourcebook– December 2016
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We Have a Well-Defined Road Map
FROM LOCAL TO NATIONAL,
TO INTERNATIONAL
More than 90 acquisitions
Major acquisitions
WSP Group 9,000 people (2012)Focus 1,800 people (2014)
Parsons Brinckerhoff 13,500 people (2014)
MMM 2,000 people (2015)Mouchel Consulting 2,000 people (2016)
2006-2016 TODAY 2015-2018
A TRULY MULTI-DISCIPLINARY
FIRM
36,000 employees
2016 net revenues $4.9B
2016 adjusted EBITDA$499M
ENR Global RankingTop International Design Firms in
Transportation - #1Top International Design Firms - # 1
A STRATEGY OF CONTINUITY TO EXPAND
OUR STRATEGIC SERVICES OFFERING
TO CLIENTS
Our objectives45,000 employees
$6.0B in net revenues ($1.3B through acquisitions)5% annual organic growth
11% adjusted EBITDA margin
Continue to consolidate the industry to create the best professional services firm in each of our geography and sector
Corporate Overview
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We Will Continue to Strengthen our Technical Expertise in Targeted Sectors and Regions
TRANSPORTATION BUILDINGS INFRASTRUCTURE ENVIRONMENT
SUBSCALE IN CERTAIN SECTORS
EXPANDING GEOGRAPHICALLY
EXPANDING GEOGRAPHICALLY
ADDING SPECIFIC EXPERTISE
SUBSCALE IN CERTAIN
SECTORS
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2017 Regional Operational Outlook
AMERICASSTRONG US TRANSPORTATION
AND INFRASTRUCTURE PIPELINE
MIDDLE EASTDIFFICULT
ECONOMIC CONDITIONS
AUSTRALIATRANSPORTATION IS THE FASTEST GROWING SEGMENT OF ALL OUR
BUSINESSES WORLDWIDE
CANADASLUGGISH ECONOMY
CHANGING ECONOMIC LANDSCAPENORDICS
POSITIVE AND GROWING OUTLOOK
ASIASLOWDOWN IN
MAINLAND CHINA
UKECONOMY SET TO
CONTINUE TO EXPAND AT MODERATE PACE
SOUTH AFRICA
DIFFICULT ECONOMIC
CONDITIONS
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Corporate Overview
Our Financial Performance
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A Proven and Sustained Performance
2012 2013 2014 2015 2016
NET REVENUES*
4,486.8
2,349.9
1,677.2
1,020.1
* In millions CAD – Non-IFRS measures
4,895.1
CAGR12-1648%
125.4
180.6253.5
441.5499.0
12.3%
10.8%10.8% 9.8%
10.2%
2012 2013 2014 2015 2016
ADUSTED EBITDA* AND ADJUSTED EBITDA MARGIN*
CAGR12-1659%
Corporate Overview
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Q1 2017 Financial Performance— Net revenues of $1.3B,
up 9.8%— 10.1% organic growth
(adjusted for billable days, approximately 4%)
— Adjusted EBITDA of $114.5M (9% margin)
— $6B backlog (10.6 months of revenues)
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Corporate Overview
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Financial Position and Net Debt/TTM Adjusted EBITDA* Ratio
(in millions of dollars) Q1 2017
Financial liabilities $1,096.4
Less: Cash ($231.7)
Net debt $864.7
TTM adjusted EBITDA* $522.0
Net debt / TTM adjusted EBITDA* 1.7x
Net debt /TTM adjusted EBITDA*, incorporating full 12-month adjusted EBITDA* for all acquisitions 1.6x
* In millions CAD – Non-IFRS measures
Corporate Overview
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2017 Outlook
* Non-IFRS measure. 1) Due mainly to personnel and real estate integration costs related to the acquisition of Mouchel completed in Q4 2016 and to real estate integration costs pertaining to the MMM acquisition completed in Q4 2015.
Net revenues* Between $5,000 million and $5,300 million
Adjusted EBITDA* range Between $510 million and $560 million
Seasonality and adjusted EBITDA* fluctuations
Q1: 20% to 22%Q2: 24% to 26%Q3: 28% to 30% Q4: 24% to 26%
Tax rate 27% to 29%DSO* 80 to 85 daysAmortization of intangible assets related to acquisitions Between $65 and $75 million
Capital expenditures Between $120 and $130 millionNet debt to adjusted EBITDA* 1.5x to 2.0xAcquisition and reorganization costs* Between $15 million and $25 million 1)
Corporate Overview
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A New Brand
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WE VALUE OUR PEOPLE AND OUR REPUTATION— We make extraordinary efforts to attract, develop, engage and retain the
best professionals in our fields of expertise
WE ARE LOCALLY DEDICATED WITH INTERNATIONAL SCALE— Our strength is our ability to adapt to our client culture and local
markets.
WE ARE FUTURE-FOCUSED AND CHALLENGE THE STATUS QUO— We anticipate trends in order to propose innovative ideas for our clients
to meet their business objectives
WE FOSTER COLLABORATION IN EVERYTHING WE DO— Our international agility is founded on our collaborative working
environment
WE HAVE AN EMPOWERING CULTURE AND HOLD OURSELVES ACCOUNTABLE
— We are empowered to turn challenges into opportunities while beingheld accountable to standards beyond the norm
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Guiding Principles
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Question todayimagine tomorrowcreate for the future
Q1 2017 Results
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