Investor Presentation May 2023
$ Millions
Balance Sheet Strength
US$
Selected Balance
Sheet Information ($
Millions)
Cash & Cash Equivalents
$16.4
$24.7
12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 3/31/2023
$10.9
$20.8
$30.3
$34.1
Pre-need Receivables
$64.9
$67.0
$82.6
$91.9
$99.3
$99.8
Care & Maintenance Trust
Funds
$151.2
$172.8
$193.2
$230.0
$209.5
$213.8
Pre-need Trust Funds
$121.6
$195.7
$230.2
$259.7
$239.3
$246.3
Pre-need Backlog (5)
$364.3
$536.5
$658.3
$855.0
$940.7
$975.6
$500
$400
$284.7
$300
12.32x
$200
$100
$63.2
$0
12/31/2018
2.39x
Debt/Adjusted EBITDA (2,4)
$391.6
$397.1
$521.0
$521.7
$523.9
10.61x
$63.9
$63.8
$67.7
$68.0
2.74x
1.95x
$124.8
$98.7
$83.5
$152.6
$158.9
12/31/2019
12/31/2020
12/31/2021
12/31/2022
3/31/2023
(6)
Senior Unsecured Debentures
Share Capital
(1)
(2)
Debt per Credit Facility
(3,4)
Total Debt/Adjusted EBITDA Multiple
Total Debt/Net Earnings Multiple
Debt per Credit Facility/Adjusted EBITDA Multiple
(3)
Recent Events
Q1 2023
The Company entered into three interest rate swap
transactions to reduce its exposure to increasing
interest rates. The weighted average fixed rate of
interest under these transactions are 4.29% and
mature in 2025 and 2026.
April 14, 2023
The Company filed a short-form base shelf
prospectus to offer an unlimited number of securities
from time to time, during the 25-month period that
the shelf prospectus is effective.
February 21, 2023
Increased financial flexibility by adding a $60M
tranche B to Park Lawn's existing credit facility for a
term of one-year.
August 11, 2022
Announces NCIB which allows Park Lawn to purchase
up to 3.39M Common Shares
During Q3 2022 purchased aggregate of
200,985 shares at an average price of
CAD$24.86
July 12, 2022
Amended credit facility transitioning borrowing
capacity from CAD$300M to US$240M
Credit facility maturity extended to
August 31, 2027
1)
2)
(2,4)
3)
4)
Share Capital includes contributed surplus.
Debt per credit facility is long-term debt plus notes payable, leases, LOC, liabilities from
interest rate swap arrangements less cash on hand. Prior to September 30, 2021, debt
excluded IFRS 16 leases.
Total debt is debt per credit facility plus Senior Unsecured Debentures (12/31/2025).
Assumes full year of Adjusted EBITDA from Acquisitions. Prior to September 30. 2021,
deducts for IFRS 16 Leasing Expense.
5)
Pre-Need Backlog consists of deferred revenue and prearranged funeral insurance
contracts.
16
6)
Senior Unsecured Debentures converted to US$ using FX Rate taken at period ended.View entire presentation