Adient Plc · NYSE:ADNT
Adient — Merger or Acquisition (August 2017)
13 slides from Adient's merger presentation, Aug 21, 2017
Slide 1: Adient to acquire Futuris
Adient to acquire Futuris August 21, 2017 Improving the experience of a world in motion
Slide 2: Forward Looking Statement
Forward Looking Statement Adient plc has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed “forward-looking statements
Slide 3: Executive summary
Executive summary > Adient signed a definitive agreement to acquire Futuris > The transaction is valued at approximately $360 million, including the assumption of ~$18 million of net debt (subject to customary closing adjustments) > Adient intends to fund the transaction with cash on hand > The clos
Slide 4: Futuris – Company overview & background
Futuris – Company overview & background > Futuris is a designer and manufacturer of automotive seating > Proven ability to differentiate with customers on complex, fully integrated, technologically advanced platforms > Operates in U.S., Mexico, China, Thailand > 15 facilities > Major products includ
Slide 5: Futuris customer profile
Futuris customer profile North America Asia Pacific August Investor Call 5 Adient – Improving the experience of a world in motion
Slide 6: Futuris footprint
Futuris footprint Detroit area HQ August Investor Call 6 Adient – Improving the experience of a world in motion
Slide 7: Strategic rationale
Strategic rationale > Geographic benefits - Increases Adient’s exposure in faster growing markets: Asia (Thailand), China - Expect positive contribution for North America (fills lost volume resulting from capital constraints prior to FY2015 and improves cost absorption) > Increases Adient’s customer
Slide 8: Financial highlights
Financial highlights Valuation: > The transaction is valued at ~$360 million, including the assumption of ~$18 million of net debt > Excluding synergies – EV/EBITDA ~7X > Including expected synergies – EV/EBITDA ~5X Financial impact: > 2018 sales estimated at $500 million (majority of sales in North
Slide 9: Key tenets of Adient’s investment thesis
Key tenets of Adient’s investment thesis Market position: > Broadest and most complete range of seating products > Unparalleled and strengthening diversification (market, customer, platform) In addition to being aligned with ADNT’s Earnings growth: investment thesis, this > Lean and improving cost s
Slide 10: Next steps
Next steps > Deal subject to customary regulatory approvals, including antitrust approval > Closing expected to occur by approximately September 30, 2017 This transaction is a low risk opportunity to accelerate Adient’s growth and create value for ADNT’s shareholders August Investor Call 10 Adient –
Slide 11: Questions
Questions Improving the experience of a world in motion 11 Adient – Improving the experience of a world in motion
Slide 12: Appendix
Appendix Improving the experience of a world in motion 12 Adient – Improving the experience of a world in motion
Slide 13: Non-GAAP financial measurements
Non-GAAP financial measurements > EBITDA, Adjusted earnings per share, Free cash flow, Net debt, as well as other measures presented on an adjusted basis are not recognized terms under GAAP and do not purport to be alternatives to the most comparable GAAP amounts. Since all companies do not use iden