Slide 1: 2024 Second Quarter Results
2024 Second Quarter Results July 31, 2024 Proprietary © Gentherm 2024
Slide 2: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures* In addition to the results reported herein in accordance with GAAP, the Company has provided here or may discuss on the related conference call adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”); Adjusted EBITDA margin; adj
Slide 3: Forward-Looking Statement
Forward-Looking Statement Except for historical information contained herein, statements in this presentation are forward-looking statements that are made by Gentherm Incorporated (the “Company”) pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All stat
Slide 4: Automotive Highlights
Automotive Highlights 22 Vehicle launches with 11 OEMs Multiple CCS® Launches Buick Enclave Kia EV9 ̶ Buick Enclave ̶ Chevrolet Equinox ̶ Kia EV9 ̶ Toyota Camry Chevrolet Equinox Toyota Camry Named 2024 Top North American Supplier by Honda Record quarterly revenue led by double-digit growth in Lumba
Slide 5: New Automotive Business Awards $660M
New Automotive Business Awards $660M in awards in 2Q First production vehicle Award for Puls.A technology on a future Hyundai Genesis full-size SUV CCS® Awards from: 7 Steering Wheel Heater Awards, Audi | Great Wall | Honda | Huawei including hands-on-detection enabled Kia | Li Auto | Porsche heater
Slide 6: Winning with Innovation
Winning with Innovation Puls.A CCS® CompactVent ̶ Combines massage with frequency pulsation ̶ Combines low profile blower with a novel air distribution module ̶ Works deeper into muscles at light physical contact ̶ Significant packaging space reduction enables thinner seats ̶ Supports relaxation, pa
Slide 7: Industry Leading Innovations
Industry Leading Innovations ClimateSense® WellSense ComfortScale ̶ Best-in-class software controlled ̶ Combines thermal, lumbar and ̶ Modular and scalable hardware thermal comfort massage ̶ Easy to integrate across OEMs and ̶ Enhances energy efficiency and ̶ Proprietary software driven wellness Tie
Slide 8: Medical Highlights
Medical Highlights Year-over-year revenue growth Quarterly revenue increased 9%, ex-fx 25 New major hospital account Strong flagship Blanketrol® expansion in China, including growth in the US, enabled by new Jinzhou Medical University in channel strategy and recent US Liaoning Province MedEquip part
Slide 9: Select Income Statement Data
Select Income Statement Data Three Months Ended June 30 Six Months Ended June 30 (Dollars in thousands, except per share data) 2024 2023 2024 2023 Product Revenues $ 375,683 $ 372,323 $ 731,698 $ 735,948 Automotive 364,002 361,533 708,640 714,225 Medical 11,681 10,790 23,058 21,723 Gross Margin 96,7
Slide 10: Select Balance Sheet Data
Select Balance Sheet Data (Dollars in thousands) June 30, 2024 December 31, 2023 Cash and Cash Equivalents $ 123,466 $ 149,673 Total Assets 1,240,553 1,234,371 Debt 222,402 222,838 Current 268 621 Non-Current 222,134 222,217 Revolving LOC Availability 278,000 278,000 Total Liquidity 401,466 427,673
Slide 11: 2024 Guidance
2024 Guidance Initial 2024 Guidance Latest Estimate(1) Product Revenues $1.5B - $1.6B Low end of range Adjusted EBITDA Margin Rate 12.5% - 13.5% Above mid-point of range Adjusted Effective Tax Rate 26% - 29% No change Capital Expenditures $65M - $75M No change (1) Based on the current forecast of cu
Slide 12: Appendix
Appendix Proprietary © Gentherm 2024
Slide 13: Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin
Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin Three Months Ended June 30 Six Months Ended June 30 (Dollars in thousands) 2024 2023 2024 2023 Net Income (Loss) $ 18,876 $ (1,551) $ 33,661 $ 6,412 Add Back: Income Tax Expense 9,544 4,842 13,086 8,570 Interest Expense, net 4,002 1,932 7,
Slide 14: Reconciliation of Adjusted EPS
Reconciliation of Adjusted EPS Three Months Ended June 30 Six Months Ended June 30 2024 2023 2024 2023 Diluted EPS - As Reported $ 0.60 $ (0.05) $ 1.06 $ 0.19 Acquisition and Integration Expenses ─ 0.04 ─ 0.09 Non-Cash Purchase Accounting Impacts 0.05 0.07 0.10 0.13 Unrealized Currency (Gain) Loss (