Modine Manufacturing Company · NYSE:MOD
Modine Manufacturing — Investor Presentation (August 2020)
15 slides from Modine Manufacturing's investor presentation, August 2020
Slide 1: Modine Manufacturing Company Investor Presentation
Modine Manufacturing Company Investor Presentation August 2020
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains statements, including information about future financial performance and market conditions, accompanied by phrases such as “believes,” “estimates,” “expects,” “plans,” “anticipates,” “intends,” and other similar “forward-looking” statements, as d
Slide 3: Modine at a Glance
Modine at a Glance A Diversified Industrial Company with a Well Positioned Product Portfolio Modine Manufacturing Company has been leading FY’20 Sales by Business Segment the way in thermal management since 1916. We Commercial & design, manufacture and test heat transfer products 22% Industrial Solu
Slide 4: Serving Diversified Industrial Markets
Serving Diversified Industrial Markets Modine provides thermal management solutions focusing on industrial markets with strong macro trends Industrial Market Technology Customers Macro Trends Segments Markets Thermal management Channel solutions (OEMs and System Commercial Truck Integrators) Commerc
Slide 5: Strategic Transformation
Strategic Transformation • Data centers • Strong balance sheet • Specialty vehicles and bus Accelerate Optimize • Improved free cash flow • Commercial refrigeration Organic Capital • Disciplined capital allocation Growth • Specialty coatings • Strategic acquisition strategy • Ventilation and air con
Slide 6: Strategic Actions and Priorities
Strategic Actions and Priorities Data Center CIS Margin Renewed Focus on Capital Reallocation CEO Transition Exit Auto Expansion Improvement HDE Program • CEO search • Execute sale of • Leverage existing • Grow coatings & • Grow market • Focus spending underway liquid-cooled footprint in North coole
Slide 7: Financial Trend Graphs
Financial Trend Graphs 7 * See Appendix for Non-GAAP reconciliations
Slide 8: Commercial & Industrial Solutions (31%)
Commercial & Industrial Solutions (31%) FY 2020 Sales by End Market 7% 8% Commercial HVAC 42% Refrigeration 17% Data Center Coatings/Other Industrial 26% FY 2020 Sales by Product 8% 23% Coils Coolers 69% Coatings/Other FY 2020 Sales by Geography FY Ended March 31 2020 2019 7% Net Sales $623.9 $707.6
Slide 9: Building HVAC Systems (11%)
Building HVAC Systems (11%) FY 2020 Sales by End Market 1% 19% 41% Heating Ventilation & AC Data Center 39% Other FY 2020 Sales by Product 17% 41% Heating 20% Air Conditioning Ventilation Aftersales/Other 22% FY Ended March 31 2020 2019 FY 2020 Sales by Geography Net Sales $221.1 $212.4 37% North Am
Slide 10: Heavy Duty Equipment (36%)
Heavy Duty Equipment (36%) FY 2020 Sales by End Market 13% 8% Commercial Vehicle 40% 7% Off-Highway Light Truck/Power Sports Automotive 32% Other FY 2020 Sales by Product 9% Powertrain Cooling 31% Engine Products 60% Other FY Ended March 31 2020 FY 2020 Sales by Geography 16% Net Sales $745.9 Americ
Slide 11: Automotive (22%)
Automotive (22%) FY 2020 Sales by Product 2% 31% Powertrain Cooling Engine Products 67% Other FY 2020 Sales by Geography 12% 16% Americas FY Ended March 31 2020 Europe Net Sales $444.9 Asia Adjusted EBITDA* 26.0 72% Adjusted EBITDA margin* 5.8% 11 * See Appendix for Non-GAAP reconciliations
Slide 12: Appendix
Appendix
Slide 13: Non-GAAP Reconciliations
Non-GAAP Reconciliations (a) Restructuring expenses primarily relate to employee severance expenses, largely resulting from targeted headcount reductions, and equipment transfer and plant consolidation costs. (b) During fiscal 2020, the Company recorded asset impairment charges totaling $8.0 million
Slide 14: Non-GAAP Reconciliations
Non-GAAP Reconciliations Modine Manufacturing Company Adjusted EBIT DA (In millions) Tw elv e months ended March 31, 2020 2019 2018 2017 2016 N et (loss) earnings $ (2.0) $ 85.9 $ 23.8 $ 14.9 $ (1.0) Interest ex pense 22.7 24.8 25.6 17.2 11.1 Prov ision (benefit) for income tax es 12.4 (5.1) 39.5 5.
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations Free cash flow and adjusted free cash flow (In millions) Twelve months ended March 31, 2020 2019 2018 2017 2016 Net cash provided by operating activities $ 57.9 $ 103.3 $ 124.2 $ 41.6 $ 72.4 Expenditures for property, plant and equipment (71.3) (73.9) (71.0) (64.4) (62.8) Fr
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