Commercial Vehicle Group, Inc. · NASDAQ:CVGI
Commercial Vehicle — Oppenheimer Industrial Growth Conference 2017
19 slides from Commercial Vehicle's conference presentation, May 10, 2017
Slide 1: Commercial Vehicle Group, Inc. Oppenheimer Industrial Growth Conference
Commercial Vehicle Group, Inc. Oppenheimer Industrial Growth Conference May 10, 2017 Patrick Miller President and CEO Tim Trenary Chief Financial Officer Terry Hammett Treasurer and VP Investor Relations
Slide 2: Forward Looking Statement
Forward Looking Statement This press release contains forward-looking statements that are subject to risks and uncertainties. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," or similar expressions. In particular, this press release may co
Slide 3: Global Presence
23 Facilities 9 Countries 2016 sales $662M NASDAQ CVGI Global Presence pg | 2 North America 12 facilities Europe 5 facilities Asia Pacific 6 Facilities
Slide 4: Products
Products Seats & Seating Systems Cabs and Sleeper BoxesWiper Systems, Mirrors & Controls Wire Harnesses & Controls Interior Trim pg | 3
Slide 5: 2016 Sales $662 Million
$662 Million 2016 Sales pg | 4 78% 11% 11% N. America EMEA APAC 42% 19% 5% 2% 18% 14% OEM Truck OEM Construction OEM Bus OEM Agriculture Aftermarket Other 42% 23% 20% 9% 6% Seats Wire Harnesses Trim Structures Wipers / Mirrors 17% 15% 10% 7%6% 6% 39% Volvo Daimler Paccar Caterpillar John Deere Navis
Slide 6: 2016 Business Segment Sales
2016 Business Segment Sales¹ pg | 5 1. Before intercompany sales eliminations 62% 19% 8% 2% 9% MD/HD Truck OEMs Aftermarket and OE Service Bus OEMs Construction OEMs Other Global Truck and Bus $416 Million (62%) 47% 16% 14% 8% 5% 3% 7% Construction Aftermarket and OE Service Automotive Truck Militar
Slide 7: Industry Outlook – North America Truck
Industry Outlook – North America Truck pg | 6 North American Truck Build Rates 2016 CVG Sales by End Market (‘000s of units) 297 323 228 217 258 294 295 231 2014A 2015A 2016A 2017E 2018E 2019E 2020E 2021E Heavy-Duty Truck (Class 8) 227 237 233 245 248 255 270 265 2014A 2015A 2016A 2017E 2018E 2019E
Slide 8: Industry Outlook – Global Construction
Industry Outlook – Global Construction pg | 7 Global Sales of Heavy-Duty Construction Equipment (‘000s of units) 2016 CVG Sales by End Market 42% 19% 5% 2% 18% 14% OEM Truck OEM Bus OEM Agriculture Aftermarket * Other Market Observations CAGR 6.8% 4.7% 5.7% 7.7% OEM Construction Source: Millmark Ass
Slide 9: Strategies to Improve the Core
Strategies to Improve the Core 18% Fewer Sales pg | 8 Restructuring and cost reductions Executive leadership realigned Major changes announced Supply Chain - Leveraging globally, increasing standardization, and localizing supply Lean/Six Sigma driving cost out Over 600 belts granted in t
Slide 10: Targets for Growth
pg | 9 Targets for Growth New off-road seating product lines Construction and Ag seats debut in Nov. 2016 (“SCIOX”); currently in development programs with major OEMs. Includes light duty equipment applications expanding market for CVG. Global Ag market Wire harness, interior trim, and seats. Potent
Slide 11: Financial Update
FINANCIAL UPDATE
Slide 12: Financial Results
Financial Results pg | 11 ACT outlook for medium and heavy duty truck production (000’s)* Class 8 Class 5-7 * Source: ACT Research See appendix for reconciliation of GAAP to non-GAAP financial measures Q1 Q4 Q1 (Dollars in millions) 2016 2016 2017 Sales 180.3 150.0 173.4 Reflects Q1 market improveme
Slide 13: Business Segments
Business Segments¹ pg | 12 1. Before intercompany sales eliminations See appendix for reconciliation of GAAP to non-GAAP financial measures (Dollars in millions) Global Truck & Bus Global Construction & Agriculture Sales 102.1 73.5 Gross Profit 14.0 7.8 Margin 13.7 % 10.6 % SG&A 5.5 4.5 Operating In
Slide 14: Capital Structure
See appendix for reconciliation of GAAP to non-GAAP financial measures Capital Structure pg | 13 Capital Allocation: 1.) liquidity 2.) growth 3.) de-leverage 4.) return capital to shareholders Proforma LTM Q1 Q1 2017 (Dollars in millions) 2015 2016 2017 (Refinancing) Satisfaction & Discharge Filed -
Slide 15: Commercial Vehicle Group, Inc. Oppenheimer Industrial Growth Conference
Commercial Vehicle Group, Inc. Oppenheimer Industrial Growth Conference May 10, 2017 Patrick Miller President and CEO Tim Trenary Chief Financial Officer Terry Hammett Treasurer and VP Investor Relations
Slide 16: GAAP to Non-GAAP Reconciliation Appendix
GAAP to Non-GAAP Reconciliation APPENDIX
Slide 17: Adjusted Operating Income Reconciliation
GAAP to Non-GAAP Reconciliation Adjusted Operating Income Reconciliation pg | 16 Q1 Q4 Q1 (Dollars in millions) 2016 2016 2017 Operating Income 8.6 3.9 4.6 Margin 4.8 % 2.6 % 2.6 % Special Items: Restructuring & Related 0.3 1.2 1.1 Litigation Settlement 2.3 Impaired Asset 0.6 Adjusted Operating Inco
Slide 18: EBITDA & Adjusted EBITDA Reconciliation
EBITDA & Adjusted EBITDA Reconciliation GAAP to Non-GAAP Reconciliation pg | 17 FY FY Q2 Q3 Q4 Q1 LTM (Dollars in millions) 2015 2016 2016 2016 2016 2017 Q1 2017 Net Income 7.1 6.8 2.7 1.2 0.4 0.6 4.9 Interest Expense 21.4 19.3 4.9 5.0 4.5 4.9 19.3 Tax Provision (Benefit) 9.8 0.8 (1.5) (0.4) (0.6) (
Slide 19: Business Segment Adjusted Operating Income Reconciliation
GAAP to Non-GAAP Reconciliation Business Segment Adjusted Operating Income Reconciliation pg | 18 Three Months Ended March 31, 2017 (Dollars in millions) Global Truck & Bus Global Construction & Agriculture Operating Income 8.3 3.3 Special Items: Restructuring & Related 1.0 0.1 Adjusted Operating In
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