Pioneer Power Solutions, Inc. · NASDAQ:PPSI
Pioneer Power Solutions — Investor Presentation (April 2013)
21 slides from Pioneer Power Solutions's investor presentation, April 2013
Slide 1: Pioneer Power Solutions Investor Presentation
Pioneer Power Solutions, Inc. Investor Presentation ©2013 Pioneer Power Solutions, Inc. April 2013
Slide 2: Forward-Looking Statements
Forward‐Looking Statements This presentation contains certain "forward‐looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "
Slide 3: Company Snapshot
Company Snapshot Manufacturer of specialty electrical equipment Electrical Transmission & Distribution Equipment headquartered in Fort Lee, NJ, operating through 4 Liquid‐Filled Transformers business units located in the U.S., Canada and Mexico Broad range of highly engineered solutions for appl
Slide 4: Investment Highlights
Investment Highlights Stable and Profitable Core Businesses Recurring Blue Chip Customer Base Aging North American Electrical Infrastructure Needing Replacement Increasing Demands and Requirements for Grid System Stability & Efficiency Rising Investment in On‐Site Backup Power and Distribu
Slide 5: Pioneer History and Evolution
Pioneer History and Evolution History Original business acquired by Pioneer’s CEO from Schneider Electric S.A. in 1995 – P d d a single, Produced i l low‐power l product d t ffor C Canadian di utilities tiliti ((one ~80% customer) t ) – 1995 sales of ~$12 million with approximately 50 employees
Slide 6: Pioneer's Position in the Electrical Grid
Pioneer’s Position in the Electrical Grid GENERATION TRANSMISSION DISTRIBUTION Power Transformers Transmission Power Substation Distribution Station Substation Distribution / Control Equipment Solar Wind Farm ON‐SITE BACKUP POWER & DISTRIBUTED GENERATION Commercial & Residential Industrial Users Cus
Slide 7: Liquid-Filled Transformer Product Line
Liquid‐Filled Transformer Product Line Pioneer Transformers Ltd. Transformer Basics Major Product Categories Reduces or increases voltage of ➲ Power From 300kVA single phase Transformers f transformers through g to electricity traveling through a wire 30MVA three phase with top voltage in 69kV cla
Slide 8: Dry-Type Transformer Product Line
Dry‐Type Transformer Product Line Jefferson Electric, Inc. and Bemag Transformer Inc. Dry‐Type Models Major Product Categories Low and medium voltage, distribution ➲ Medium Size ranges from 30kVA to Voltage g 10MVA and up to 35,000 volts, and power transformers for indoor or standard and custom de
Slide 9: Switchgear Product Line
Switchgear Product Line Pioneer Critical Power Inc. / Power Systems Solutions Switchgear Basics Major Product Categories System of disconnects, fuses and circuit ➲ Paralleling Lineups available in different models to match system design breakers that distribute, distribute monitor and switchgear r
Slide 10: Customers and Markets
Customers and Markets Revenue Distribution Representative Customers 2012A Revenue: $84.0 Million Utilities l 32% Distributors and EPC Firms 50% Industrial 9% Commercial 9% 89% of 2012 revenue originated from repeat customers ‐ 10 ‐
Slide 11: Growth Strategy
Growth Strategy Acquisitions – Profitable companies with strengths in complementary market niches – Potential for operating efficiencies through integration – Broaden Pioneer’s range of power solutions through more technically‐ advanced products products, new distribution channels and geographic r
Slide 12: Executive Leadership
Executive Leadership Nathan J. Mazurek Chairman and Chief Executive Officer 20+ years of experience in the electrical equipment and components industry Extensive track record of consolidating companies, factories and product lines – Over 25 consummated acquisition, acquisition divestiture divest
Slide 13: Financial Overview
J PIONEER ise | _ Financial Overview
Slide 14: Summary Operating Statements
Summary Operating Statements ($ millions, except per share data) FYE December 31, 2010 2011 2012 R Revenue $47 2 $47.2 $68 8 $68.8 $84 0 $84.0 % Growth +16.3% +45.6% +22.1% Gross Profit $11.6 $ $16.0 $ $18.9 $ % Margin 24.6% 23.2% 22.5% Adjusted EBITDA (a) $5.3 $6.1 $7.8 % Margin 11.2% 8.9% 9.3% Net
Slide 15: Financial Position
Financial Position ($ millions) Condensed Balance Sheet ($M) Liquidity Measures ($M) 12/31/12 12/31/12 Assets q Cash and cash equivalents $ 0.5 Current assets $ 27.5 Accounts receivable 10.6 Current liabilities (20.6) Inventories 14.9 Net working capital $ 6.9 Prepaid expenses 0.9 Current ratio 1.3x
Slide 16: Outlook for 2013
Outlook for 2013 Revenue and Earnings Guidance 2013E Guidance Full Year Assumptions 2012A 2013E ∆% Internal I l revenue growth h off 10%, 10% at mid‐point id i Revenue $84 $89 ‐ 95 6 ‐ 13% of guidance range Diluted EPS $0.70 $0.74 ‐ 0.80 6 ‐ 14% Stable gross margins 125 Revenue ($M) 47 2 47.2 68
Slide 17: Investment Highlights
Investment Highlights Stable and Profitable Core Businesses Recurring Blue Chip Customer Base Aging North American Electrical Infrastructure Needing Replacement Increasing Demands and Requirements for Grid System Stability & Efficiency Rising Investment in On‐Site Backup Power and Distribu
Slide 18: Contact Us
Contact Us Corporate Headquarters: Investor Relations: Pioneer Power Solutions, Inc. Howard Gostfrand, President 400 Kelby Street, 9th Floor American Capital Ventures Fort Lee, NJ 07024 (T) 305.918.7000 ( ) 212.867.0700 (T) ( ) 305.466.1747 (F) (F) 212.867.1325 [email protected] www.pioneerpowe
Slide 19: Questions & Answers
Questions & Answers
Slide 20: Supplemental Financial Schedules
Supplemental Financial Schedules
Slide 21: Reconciliation of Non-GAAP Measures
Reconciliation of Non‐GAAP Measures (In thousands, except per share data) Year Ended December 31, 2010 2011 2012 Reconciliation to Non‐GAAP Net Earnings and Diluted EPS: Earnings per share from continuing operations (GAAP measure) $ 0.55 $ 0.42 $ 0.54 Earnings from continuing operations (GAAP measur
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