NFI Group Inc T.NFI

Alternate Symbol(s): NFYEF | T.NFI.DB

Industrials

NFI Group Inc. is a Canada-based independent bus and coach manufacturer. The Company specializes in zero-emission electric mass mobility solutions. Its segments include Manufacturing Operations and Aftermarket Operations. Manufacturing Operations segment includes design, manufacture, service and support of new transit buses, motor coaches, medium-duty, cutaway buses, and installation of infrastructure for electric vehicles and fiberglass reinforced polymer components. It offers aftermarket parts for transit buses, coaches and medium duty/cutaway buses, both for the Company's and third-party products. It offers a range of sustainable drive systems, including zero-emission electric (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. The Company's brands include New Flyer (heavy-duty transit buses), MCI (motor coaches), Alexander Dennis Limited (single- and double-deck buses), Plaxton (motor coaches), and ARBOC (low-floor cutaway and medium-duty buses).

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NFI Group Inc > Dividend cut down for 2022 (to be raised in 2023)

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Post by BudFox198777777on Mar 10, 2022 8:27am

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Post# 34502316

Dividend cut down for 2022 (to be raised in 2023)

Performance Highlights:

2021 Q4 revenue of $695 million; 1,087 equivalent units ("EUs") delivered, with 31% coming from battery- and fuel cell-electric vehicles ("ZEBs"). Full year sales of $2.3 billion; 3,783 EUs delivered, with 18% ZEBs.
2021 Q4 Adjusted EBITDA(2) of $26 million; Net Loss per Share of $0.12 and Adjusted Net Loss per Share(2) of $0.21. Full year Adjusted EBITDA(2) of $164 million; Net Loss per Share of $0.21 and Adjusted Net Loss Per Share(2) of $0.17.
Ending liquidity(2) position of $794 million. Raised C$738 million in debt and equity in 2021.
Ending total backlog position (both firm and options) of 8,448 EUs (valued at $4.5 billion(2)), with active public bid universe up 70% year-over-year. ZEB backlog now 1,414 EUs, or 17%, of total backlog.
In Fiscal 2021, "NFI Forward", the Company's strategic cost reduction and sourcing initiative, realized Adjusted EBITDA savings of $55 million, and a further $10 million of Free Cash Flow(2) savings.
Announced financial guidance for 2022, including Adjusted EBITDA(2) range of $100 million to $130 million. NFI reaffirms 2025 revenue, Adjusted EBITDA and ROIC(2) targets.
Reflecting supply chain disruption, announced a reduction of quarterly dividend, to $0.0531 per Share, with an opportunity for a subsequent increase based on improved financial performance in 2023.