Visteon Corporation · NASDAQ:VC
Visteon — Citi Global Industrials Conference – September 2013
36 slides from Visteon's conference presentation, Sep 17, 2013
Slide 1: Citi Global Industrials Conference – September 2013
Exhibit 99.1 Yanfeng Our Interiors Electronics Delivering 2013 Family CitiVisteon Global on of Our Businesses Industrials Commitments Conference – September 2013
Slide 2: 2013 Financial Highlights
?Strong –Sales ?Over ?Increased Page 2013 Asia Europe N. S. Other Hyundai/Kia Ford By (1) Sales Revised Prior $7.3 $620 $660 $100 $135 Adjusted $4.04 $4.83 Financial Global Please America America Represents Customer Region -43% 31% 2-Highlights Breakdown -36% $7.5 $1 see $660 $690 $150 $170 and Auto
Slide 3: Delivering on Our Commitments
Pagein Delivering ?Solid –1st –Increased ?Significant –Visteon –Resolving ?Announced –Definitive –Approximately ?Focused –#2 –Two Please Focused half 3high Climate, see financial on 2013 business on appendix Value growth, 2013 agreement legacy Continued progress two sale Adjusted #3 performance $1.2
Slide 4: 1st Half Financials
Page 1st $719 $2,475 $633 (Dollars Sales Electronics Climate $65 $232 $58 $170 Please H1 Note: Half 2012 2013 4Excludes see $2,088 2013 inappendix Millions) Core Interiors Business for Adjusted important product Financials EBITDA group disclosures and corporate regarding cost “Use expense. of Non-GA
Slide 5: Progressing the Plan
Yanfeng Our Interiors Electronics Progressing 2013 Family CitiVisteon Global of theBusinesses Plan Industrials Conference – September 2013
Slide 6: Visteon Global Transformation Plan
Pageglobal Visteon: ?Sell Interiors 50% 100% 70% Climate Visteon ?Establishes ?Consolidation ?Headquartered ?Visteon ?Transfer ?Target ?Remains ?Continue ?Interiors ?#5 ?Significant ?Focused Yanfeng 40% 60% Electronics YFV ?YFV ?Core ?Need Please Rothschild Corporate ?Minimal ?Staff6Visteon YFV busi
Slide 7: Delivering Significant Progress on Commitments
Page ?Contribute ?Sell ?Address ?Monetize ?Rightsize Delivering Significant ?Completed Divestiture ?Announced In Please process: 7Interiors seeElectronics’ appendix YFV, corporate on On Progress remains Climate ––Our Contributed business Increasing Definitive track over Commitments afor to on busine
Slide 8: Drastically Simplified Visteon
YFV CAGR HVCC Small 7%+ 12%+ Corporate ?Visteon ?Nine ?Two ?Electronics ?YFV ?Corporate Visteon Please Interiors Exteriors Climate Holding key CAGR complexity see Climate Simplification: Electronics Interiors Simplification Business much Infrastructure businesses appendix infrastructure joint YFV bu
Slide 9: Announced Sale of YFV
Yanfeng Our Interiors Electronics Announced 2013 Family CitiVisteon Global Sale of Businesses of Industrials YFV Conference – September 2013
Slide 10: YFV Transaction Overview
Page 10 YFV Transaction ?Visteon ?$1.5 –$1.2 ~$1.1 –Estimated Cash ?Most ?Timing Please Timing Impact ?Adjusted –2012: ?YFV –2009:Transaction: Consideration billion Historical transactions see to ($99) $35 subject isVisteon EBITDA appendix selling increasing incremental million; total net expected –
Slide 11: Focused on Two Market Leaders
Yanfeng Our Interiors Electronics Focused 2013 Family CitiVisteon on Global Two of Businesses Market Industrials Leaders Conference – September 2013
Slide 12: Focused on Two Core Businesses
Pagein100% Focused ?#2 ?7%+ Please 70% Electronics ?#3 ?12%+ ?Powerful ?Strong ?Generates ?World-class 100% Interiors ?Managing ?Restructuring Visteon 12 Revenue the see Revenue Consolidating balance onworld appendix technology cash through Two IPbusiness CAGR technology sheet in Market CAGR high-gr
Slide 13: Halla Visteon Climate Control Overview
Halla Page Overview By 2012 (1) Visteon ?#2 ?World-class ?One ?Strong ?Stock ?Experienced –YH ?Extensive 13% HVCC Hyundai #2 (Dollars Adjusted Global IHS Customer Region climate Denso 13 Park Sales Climate of Visteon price unconsolidated Climate growth only in /EBITDA Kia Climate Player (CEO) Millio
Slide 14: Electronics Market Opportunity
(1)2012- (2)Includes: (3)Source –Information –Audio –Infotainment, $47B Conti Pana-sonic JCI Information Opportunity Cockpit Automotive Please 3%of 17% see Other & Electronics overall 2017 :Connectivity appendix Denso 5% Strategy Tier & OEM to& 31% Controls Navigation take Delphi $100B Controls 110%
Slide 15: Electronics Sales: Significant Growth Business
Visteon 2016E 2015E 2014E 2013E 2012 $2,500 $2,000 $1,500 $1,000 $500 $0 Consolidated Cockpit Revenues Consolidated Cockpit Electronics in USD Cockpit Electronics Millions Cockpit Sales Electronics Page Electronics Sales15Growth Electronics Pro Forma is afor Significant YFVE Transaction Growth Busin
Slide 16: Ongoing Product Portfolio Evolution
Page Film Visteon Connected Infotainment Family Audio Advanced Displays Reconfigurable Thin Ongoing Please16Head see Entertainment Electronics Portfolio Transistor Controls appendix Audio Units & Evolution Product for Clusters Connectivity important Portfolio to Deliver disclosures Modules Consumer
Slide 17: Why Visteon Electronics Strengths
Why ?Consumers ?Shift ?Consumer Delivering Strengths Page ?Revenues ?Emerging ?Faster User Shift Innovation Definition Companies Automotive Enabling Combine Superior Our Please Mega … Visteon Drive emerging Experience Visteon 17 from Trends… from see technology Electronics Global Attractive CE-techn
Slide 18: Visteon's Role in Consumer Electronics World
Responding Integrating Enable Delivering Visteon’s OEM PleaseChallenge see connectivity Role appendix the Consumer to user the World Consumer experience to for changing Electronics the important cloud Electronics via from and experiences disclosures user connected environment interfaces Challenge re
Slide 19: Electronics Financial Results Summary
Strong Sales Remove – VC $1,274 New Equity $50 $457 Subtotal (137) $1,594 Visteon Pre-YFVE Consistent (14) Electronics YFVE Adjusted –Income Financial $126 $112 $152 Adjusted Electronics: Electronics YFVE $457 with Transaction Consolidated $40 –EBITDA (ex. Equity Visteon’s Results 7 Elims NCI –YFVE)
Slide 20: Strong Financial Outlook
Yanfeng Electronics Our Strong 2013Family Citi Financial Visteon Global Interiors of Businesses Outlook Industrials Conference – September 2013
Slide 21: Visteon Adjusted EBITDA and Guidance
6/30/2013 Page Visteon: Adjusted Original 2013 YFV KRW Visteon Note: Please 21 Transaction $7.3 Consistent (1) see 2014 Post Guidance EBITDA 1,094 -$7.5B Post appendix Adjusted YFV 1,120 with 2013 $7.8 2013 Cash (Financial for1,110 Visteon’s -$8.0B EBITDA Original important Revised Euro Outlook) $66
Slide 22: Going Forward: Value Creation and Share Repurchase
Page 22 Going –Both –Bottom ?YFV –Board ?Visteon –Balance –Above Visteon Please Transaction core exhibit Forward see authorized Focused industry Well Focusing line sheet appendix businesses being higher Positioned optimization on growth Affords on an enhanced Continuing for than upsize Core among im
Slide 23: Appendix
Yanfeng Our Interiors Electronics 2013 Appendix Family CitiVisteon Global of Businesses Industrials Conference – September 2013
Slide 24: Forward-Looking Information
Forward-Looking This including, Caution New vehicle ?conditions volumes, and ability ?our ?general effect ?increases to ?those Page which conditions (iii) ability presentation business 24 of factors toproductions should possible pension economic we comply (ii) but into within are the raw identified
Slide 25: Use of Non-GAAP Financial Information
Because used In measures GAAP this Use Page order presentation of throughout 25Non-GAAP financial to not on provide all thecompanies measures, subsequent this andthe Financial presentation the forward-looking adjustments use and slides. Information identical actual may Thethat results not provision
Slide 26: 2013 Guidance Selected Items
Page 2013 Prior Product Free Adjusted Other Depreciation Interest Cash Operating Restructuring Capital (1) Climate Free Cash 26 Taxes Revised Guidance Selected Spending Payments Sales Transaction Control cash EBITDA Free EPS $120 Flow and flow Payments $7.3 $4.04 Cash Items: M (1) transaction. Amort
Slide 27: Adjusted Gross Margin and SG&A Reconciliation
(Dollars 2012 Sales 139 Net $6,857 Adjusted The 2013 1st Discontinued pension $185 impacts Less: 4 Page settlements, Qtr sales, 126 Company 27 expense. Discontinued $1,856 2nd of settlements 32 inGross products employee Millions) - 297 Qtr operations other Adjusted defines $1,892 3rd Margin - -$1,71
Slide 28: 2013 Guidance Selected Items
2013Restructuring Prior Product Free justed (ex. Adjusted Other Depreciation Interest Cash Operating Climate Restructuring Capital Includes Page Cash 26 28 Taxes Revised Guidance Selected Free Spending Payments Sales Transaction (1) $75-$100 EBITDA EPS $120 Flow Cash Free and Payments $7.3 $4.04 Ite
Slide 29: Adjusted Net Income and EPS Reconciliation
Reconciliations Page visteon 2012 (Dollars Earnings Restructuring Equity Other Taxes Lighting Total Memo: Net Items Average Adjusted income 29 2013 ($65) in income non-operating related investment Adjusted Items net and shares net per net earnings 2013 $43 (loss) income income Shares share income to
Slide 30: Visteon Adjusted EBITDA Reconciliation
Reconciliation 2012 (Dollars Gross Product SG&A Employee Exclude % Equity Noncontrolling Adjusted Page of Sales 30 2013 Margin inLine Sales D&A inEBITDA Gross SG&A Affiliates Charges 8.7% 9.7% Millions) Specific $1,023 $89 45 of Interests Margin ($35) (35) 7.7% 8.8% Climate 49 $81 (excl. $84 /1Corp
Slide 31: Electronics Reconciliation
Reconciliation 2012 Electronics (Dollars Gross Cadiz Product SG&A Employee Exclude % Equity Noncontrolling Adjusted Page of Sales 31 2013 Non-Operating Margin inLine Sales D&A inEBITDA Gross SG&A Affiliates Charges 10.0% 7.6% Millions) Specific $329 $29 8of Interests Margin 8(16) ($16) 8.6% Climate
Slide 32: Interiors Reconciliation
Reconciliation 2012 Interiors (Dollars Gross Product SG&A Employee D&A % Equity Noncontrolling Adjusted Page of Sales 32 2013 8Margin in 7Line Sales inEBITDA Gross SG&A D&A Affiliates, 8Charges 4.1% 1.3% Millions) 8 31 Specific $393 $16 of $8 8Interests Margin 8(19) ($19) 4.3% 1.1% 7Interiors 7$14 $
Slide 33: YFVE Reconciliation
Reconciliation YFVE 2012 (Dollars Adjusted Interest Provision Depreciation Net Pageincome 33 Actual - expense, Note pro inEBITDA for Millions) $26 forma 2013 and income Estimates of$24 net amortization YFVE Full-Year adjusted $40 $29 2Full taxes 2$40 only, Adjusted 2$13 Year 15$45 EBITDA Estimate 5n
Slide 34: U.S. and Non-U.S. Income and Tax Breakdown
U.S.Including Affiliates Intra-Entity Visteon üHVCC –7%+ –Increase –Largely 12%+ Incremental Significant üVisteon –Partially –Will üYanfeng –Eliminated üNet –Exploring Q2 (1) (2) (3) (4) Future PageU.S. Pro Excludes 2013 GAAPIncome Interest 34 benefit global sales Outlook forma Profitability GAAP an
Slide 35: Visteon Fixed Costs and SG&A Savings
Page Visteon —Expect —Longer —Key –IT –Elimination (Dollars $340-$380 Goal 2014E 2013E 2012 2011 $412 $437 $380-$400 Fixed On (1) Not Track and 35 Costs drivers pro Fixed engineering-related into $25 term, Millions) (1) forma Achieve and ofmillion Costs ofexpect redundant support SG&A savings forand
Slide 36: www.visteon.com
Page 36 www.visteon.com VISTEON
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