Bank of America Investment Banking Pitch Book
Valuation Supporting Details
Review of Base Case Projections - Revenue
Revenue Breakdown
Overhead Distribution
Underground Distribution
Transmission
Substation
Truck Fabrication
Storm
T&D Revenue
Engineering and Siting
Klondyke (Union Construction)
Pline Valley (Union Construction)
International
New Opportunities
Revenue
20
Overhead Distribution
Underground Distribution
Transmission
Substation
Truck Fabrication
Storm
T&D Revenue
Engineering and Siting
Klondyke (Union Construction)
Pline Valley (Union Construction)
International
Revenue Growth Breakdown
New Opportunities
Revenue
Source: Pioneer Bose Cosa as of April 9, 2014.
Nota: Dollars in milions.
2009A
$265.0
87.5
52.9
16.4
0.5
152.8
$575.1
$38.4
$613.5
2009A
2010A
$248.6
63.6
168.8
23.7
46.6
$451.3
$52.7
$504.1
2010A
30.1%
44.7%
(100.0%)
(69.5%)
(21.5%)
37.5%
(17.8%)
LOX For more investment banking materials, visit www.10xebitda.com
2011A
$258.0
62.9
73.5
29.7
0.5
$489.1
$75.6
28.1
1.1
$593.9
2011A
(1.1%)
25.5%
38.4%
17.8%
20124
$300.2
64.5
70.7
31.4
70.5
$540.7
$69.2
18.9
10.1
$685.2
2012A
16.4%
(3.7%)
608.6%
10.6%
(8.6%)
65.2%
811.2%
15.4%
Fiscal Year Ending June 30,
20134
2014E
$270.8
69.0
91.8
34.6
10.8
155.9
$632.9
$155.8
99.5
6.3
$918.7
29.7%
10.5%
218.8%
1:21.0%
17.0%
1:25.3%
114.7%
28.5%
(37.7%)
$302.6
67.0
90.0
34.1%
9.1
70.7
$571.8
Fiscal Year Ending June 30,
20134
2014E
$150.1
50.8
(0.1)
$813.0
11.7%
(2.8%)
(6.5%)
(15.3%)
(54.6%)
(9.6%)
66.8%
NM
(11.5%)
2015E
$301.5
66.3
75.0
$576.1
$161.9
55.1
45.5
32.0
$870.5
2015E
(1.2%)
5.1%
(100.0%)
0.7%
8.5%
12.5%
7.1%
2016E
$319.5
7.2.9
109.3
35.7
75.0
$612.4
$178.1
60.6
50.0
53.5
$954.6
2016E
10.0%
10.0%
6.3%
10.0%
10.0%
10.0%
9.7%
Bank of America
Merrill Lynch
2017E
$335.5
78.7
118.0
37.5
75.0
$644.7
$192.3
165.4
54.0
53.5
$1,010.0
2017E
5.3%
5.8%
2018E
$352.3
82.7
123.9
39.4
75.0
$673.2
$202.0
68.7
56.7
$1,049.6
2018E
5.0%
5.0%
5.0%
4.4%
5.0%
5.0%
5.0%
3.9%View entire presentation