WSP AT A GLANCE
Laurentian Bank Conference
Alexandre LHeureux
President and CEO
April 6, 2017
2
A LEADING GLOBAL PROFESSIONAL CONSULTING FIRM
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
3
WE HAVE BUILT A DIVERSIFIED GLOBAL FIRM
7,500 4,525
CANADA NORDICS
7,000
UK & IRELAND
3,650
3,370
ASIA
ASIA
6,760 675
CONTINENTAL
US EUROPE
2,330
AUSTRALIA
NEW ZEALAND
1,040 700 2,100
MIDDLE EAST
CENTRAL & SOUTH INDIA
SOUTH AMERICA AFRICA
4
A LEADING CANADIAN FIRM, WITH THE MOST EXPOSURE
OUTSIDE OF CANADA
$4,000.0
1 Top international
design firm
$3,000.0
1 Top international design firm
in transportation
$2,000.0
2 Top international design firm
in power
$1,000.0
3 Top international design firm
in buildings
$-
Based on design-specific revenue generated from projects outside each firm's respective home country
Source: ENR Top 225 Global Design Firms/ENR Sourcebook December 2016
5
OUR POSITIONING IN THE INFRASTRUCTURE
AND CONSTRUCTION VALUE CHAIN
MATERIALS
EQUIPMENT AND
SUPPLIERS ENGINEERED
WE HAVE A HORIZONTAL PRODUCTS
FEE-FOR-SERVICE MODEL
CONSTRUCTION
SERVICES
PLANNING DESIGN
(construction/project
management)
CONTRACTORS
OPERATION AND
ARCHITECTS AND
MAINTENANCE
DEVELOPERS
6
CONSISTENT NET REVENUES* GROWTH
[VALEUR]**
[VALEUR]
CAGR
4,486.8
48%
2,349.9
1,677.2
1,020.1
12 13 14 15 16 17E
* In millions $CAD - Non-IFRS measures
** Mid-point of 2017 guidance provided by the Corporation
7
ADJUSTED EBITDA* AND ADJUSTED EBITDA MARGINS*
[VALEUR]**
499.0
441.5
CAGR
59%
12.3%
253.5
180.6
10.8%
10.8% 9.8%
125.4 Impact 10.2% [VALEUR]**
of WSP
acquisition Impact
of PB
acquisition
12 13 14 15 16 17E
Adjusted EBITDA Adjusted EBITDA margin
* In millions $CAD - Non-IFRS measures
** Mid-point of 2017 guidance provided by the Corporation
8
A SOLID BACKLOG*
10.1 months
of revenues
5,667.4 5,668.8
5,529.7 5,371.2
5,199.7 Q4 2016 COMPARED TO Q4 2015
(in millions of dollars, except percentages) Total
Hard Backlog Q4 2016 $5,668.8
Hard Backlog end of Q4 2015 $5,199.7
Net change ($) $469.1
Organic Growth 0.7%
Acquisition Growth 7.7%
Foreign Currency Impact 0.6%
Net change % Q4 2016 vs. Q4 2015 9.0%
Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016
* In millions $CAD - Non-IFRS measures
9
OUR DIVERSIFIED PLATFORM SUPPORTS OUR STRATEGY
30% 49%
AMERICAS TRANSPORTATION AND
INFRASTRUCTURE
31%
PROPERTY AND
37% 19% BUILDINGS
CANADA
EMEIA
14% 11% 9%
INDUSTRIAL ENVIRONMENT
APAC
AND ENERGY
Percentage of 2016 net revenues
10
ECONOMY: ATTRACTIVE END MARKETS
Governments massively SWEDEN
investing in infrastructure SEK 522 billion between 2014-2025 for
to support economies infrastructure projects
UK
CANADA National Infrastructure Delivery Plan
$CAD 120 billion infrastructure program Over 100 billion in infrastructure by 2021
UNITED STATES AUSTRALIA
$US 305 billion FAST Act > $AUS 50 billion infrastructure investments
>$200 billion in ballot initiatives
11
2016 US ELECTIONS LOCAL TRANSPORTATION AND
INFRASTRUCTURE-RELATED BALLOT INITIATIVES
WA IA
IL
$54B Indianapolis (Marion
Increase in taxes for BRT County) cent income Lockbox constitutional
and light rail projects tax for county transit plan amendment to protect
transportation funding
NJ
CA Lockbox
constitutional
Los Angeles - $120B in amendment to
bonds for new transit and protect
road upgrades transportation
funding
San Francisco - $9.5B in
bonds for BART
Alameda-Contra Costa
Transit District - 20-year
renewal of expiring parcel NC
(property) tax for AC
Transit Wake County
(Raleigh) cent
sales tax increase
GA
cent sales tax for 40 years for MARTA
TX
City of Atlanta - .4% tax increase for
City of Austin - $720M $379M in various transportation projects
bond initiative
Fulton County - .75-cent sales tax
increase for projects outside Atlanta
GROWTH BASED ON
CONTINUED M&A FOCUS
13
WE WILL CONTINUE TO ENHANCE OUR SKILLS
CORE SECTORS
TRANSPORTATION BUILDINGS INFRASTRUCTURE ENVIRONMENT
OPPORTUNISTIC DEVELOPMENT
POWER AND OIL AND GAS INDUSTRIAL MINING
ENERGY
WE WANT TO CONSOLIDATE AND EXPAND
OUR CORE SECTORS IN ALL OF OUR REGIONS
14
WE WILL CONTINUE TO PERFORM ACQUISITIONS IN
TARGETED GEOGRAPHIES
EXPANDING
GEOGRAPHICALLY
ADDING SPECIFIC
EXPERTISE
SUBSCALE IN
CERTAIN
SECTORS
EXPANDING
GEOGRAPHICALLY
SUBSCALE IN
CERTAIN
SECTORS
15
2016 ACQUISITIONS
Norway
Structural engineering
115 employees
UK
Public transportation and infrastructure
2,000 employees
Sweden
Power and energy
US
25 employees
Cogeneration
10 employees
Mexico Finland
Structural engineering Project management in buildings
50 employees 20 employees
Australia
Water division - Chile, Peru Structural engineering
Water 20 employees
250 employees
Financed using balance-sheet
Additional skill-sets within our network
New geographies
16
THE RIGHT LEVERAGE* PROFILE TO SUPPORT
GROWTH STRATEGY
1.8
1.7 1.7
$US 1.3 billion credit facility
Adjusted EBITDA growth and
strong free cash flow
Continued support from the
capital market
0.8
0.6
12 13 14 15 16
* Adjusted for TTM acquisitions
LOOKING AHEAD
2017 OUTLOOK
Net revenues* Between $5,000 million and $5,300 million
Adjusted EBITDA* range Between $510 million and $560 million
Q1: 20% to 22%
Seasonality and Ajusted EBITDA* Q2: 24% to 26%
fluctuations Q3: 28% to 30%
Q4: 24% to 26%
Tax rate 27% to 29%
DSO* 80 to 85 days
Amortization of intangible assets
Between $65 and $75 million
related to acquisitions
Capital expenditures* Between $120 and $130 million
Net debt to Adjusted EBITDA* 1.5x to 2.0x
Acquisition and reorganization costs* Between $15 million and $25 million 1)
* 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.
19
2017 REGIONAL OPERATIONAL OUTLOOK
CANADA NORDICS
Sluggish economy Positive and growing outlook
Changing economic landscape
UK
Economy set to continue to
expand at moderate pace
ASIA
Slowdown in mainland China
MIDDLE EAST
AMERICAS Difficult economic
Strong US Transportation and conditions
Infrastructure pipeline
SOUTH AUSTRALIA
AFRICA Transportation is the fastest growing
Difficult economic segment of all our businesses worldwide
conditions
20
2017 ASSUMPTIONS
OPPORTUNITIES RISKS
Mega trends: Increased Slower than expected
demand for energy,
urbanization, climate infrastructure program in
change Canada
Right sectors and Ongoing instability in
geographies Middle East
Global investments in Oil and gas remains at
infrastructure current level
Increased brand Potential impact
awareness of Brexit
21
REAFFIRMING OUR 2015-2018 STRATEGIC PLAN
CLIETS
OPERATIONAL
EMPLOYEES CLIENTS GROWTH
EXCELLENCE
45,000 10% 11% $ 1.3B
EMPLOYEES OF OUR REVENUES EBITDA MARGIN THROUGH ACQUISITIONS
FROM GLOBAL
CLIENTS
> 100% 5%
CASH FLOW/NET INCOME ANNUAL ORGANIC GROWTH
< 85 DAYS $6.0B
DAYS SALES NET REVENUES
OUTSTANDING (DSO)
THANK YOU
