Visteon Corporation · NASDAQ:VC
Visteon — Deutsche Bank Global Industrials and Materials Conference June 2011
22 slides from Visteon's conference presentation, Jun 15, 2011
Slide 1: Visteon Corporation Deutsche Bank Global Industrials and Materials Conference June 2011
Visteon Corporation Deutsche Bank Global Industrials and Materials Conference June 2011
Slide 2: Corporate Overview
Page 2 Corporate Overview 2010 Product Sales - Segment Leading global supplier of climate, interiors, electronics and lighting products Streamlined organization with strong balance sheet and competitive leverage Global manufacturing and engineering footprint with emphasis on low-cost regions 118 fac
Slide 3: Repositioning Visteon
Page 3 Repositioning Visteon (Dollars in Millions) 2005 Product Sales $16,586 Net Income / (Loss) (270) Adjusted EBITDA 207 Adj. EBITDA Margin 1.2% Debt / EBITDA 9.6x Facilities 183 Headcount (%LCC) 48,000 (40%) Customer Sales Regional Sales Asia 12% N. America 61% S. America 3% Other 32% Hyundai/Ki
Slide 4: Visteon at a Glance
Page 4 Visteon at a Glance Air Induction HVAC Systems Powertrain Cooling Compressors Fluid Transport Cockpit Modules Instrument Panels Consoles Door Trim Modules Audio / Infotainment Driver Information Center Stack Electronics Feature Control Modules $3.3 billion $2.2 billion $1.4 billion 2010 Produ
Slide 5: Broad Manufacturing and Engineering Capabilities, Facilities in 26 Countries
Page 5 Van Buren, MI Chelmsford, UK Shanghai, China 118 Facilities in 26 Countries Broad Manufacturing and Engineering Capabilities Some facilities support multiple product groups. Climate Electronics Interiors Lighting Tech Center # of Locations 6 44 11 57
Slide 6: Diversified Customer and Geographic Exposure
Page 6 2010 2010 Consolidated Market Penetration Region Customer Total Sales $7.3 Billion $10.8 Billion Diversified Customer and Geographic Exposure AP EU NA SA East 40 36 17 7 AP EU NA SA East 56 26 13 5 Hyund. / Kia Ford PSA R / N GM / Chrysler VW Other East 29 25 7 7 5 2 25 Hyundai / Kia Renault
Slide 7: Well Positioned With Global Vehicle Production Levels
Page 7 Consolidated Sales Market Penetration S. America 0.07 0.05 N. America 0.17 0.13 Europe 0.36 0.26 Asia Pacific 0.4 0.56 Regional Contribution 2010 Global Production Volumes (Units in Millions) Well Positioned With Global Vehicle Production Levels S. America N. America Europe Asia Pacific $7.3B
Slide 8: Visteon in Asia
Page 8 Visteon in Asia 15 Climate 18 Interiors 8 Electronics 2 Lighting 4 Technical Center 10 Customer SC Some facilities support multiple product groups. Includes Consolidated and Non-Consolidated Operations India (7) Australia (1) Thailand (3) Philippines (1) Japan (5) South Korea (13) China (27)
Slide 9: Halla Climate Control Overview
Page 9 Overview Ownership Structure Halla Climate Control Major Customers Integral operation within global Climate group Founded in 1986, 70% consolidated subsidiary of Visteon - Remaining 30% trades on Korea Stock Exchange Specializes in developing and producing automotive climate control products,
Slide 10: Yanfeng Visteon Overview
Page 10 Overview Yanfeng Visteon Sales Breakdown SVW SGM Export SAIC East 36 26 6 5 4 4 2 2 1 1 1 1 11 By Customer By Product Interiors Seating Electr. Exterior Safety Tooling East 45 38 8 5 3 1 SVW 36% SGM 26% Export 6% Other 11% SAIC 5% DF Nissan 4% CFMA 4% Chery 2% JAC 2% Hyundai 1% Foton 1% DYK
Slide 11: Product Portfolio Aligned with Market Trends
Page 11 Product Portfolio Aligned with Market Trends Consumer Experience Fuel Efficiency and Reduced Emissions Manufacturing and Product Development Scale Visteon Advantage Resulting Automotive Trends Macro Changes Climate Change and Regulatory Environment Customers' Cost Competitiveness Consumer Ex
Slide 12: Technology Developments by Product Group
Page 12 Climate Electronics Interiors Lighting Technology Developments by Product Group Fully integrated compressor, electric motor, power inverter and oil separator to maximize fuel economy, enable battery cooling, and provide air conditioning to electric vehicles Enable adoption of HEV and EV powe
Slide 13: Innovation and Technology Showcases
Page 13 Innovation and Technology Showcases Growth Market Car C-Beyond Strong Product and Technology Portfolio Design and product capabilities targeted to both mature and fast-growing markets Please see important disclosures regarding "Forward Looking Information"
Slide 14: Strong Product / Technology Portfolio Continues to Drive New Business Wins
Page 14 Organic Growth 2011 2012 2013 2011-2013 Cum. Booked 60 360 280 700 (Dollars in Millions) Backlog (as of 12/31/2010) Strong Product / Technology Portfolio Continues to Drive New Business Wins Region PSA 7% Other 17% Please see important disclosures regarding "Forward Looking Information" Hyun
Slide 15: Performance / Capital Structure
Page 15 2005 2008 2009 2010 Sales 16586 9077 6420 7323 EBITDA Margin 1.2 3.9 7.1 8.4 Product Sales and Adjusted EBITDA Margin Adjusted EBITDA Performance / Capital Structure (Dollars in Millions) Please see important disclosures regarding "Forward Looking Information" and "Use of Non-GAAP Financial
Slide 16: Focused on Driving Double Digit Adjusted EBITDA Margins By 2014
Page 16 Adjusted EBITDA Margin Objective Improving Volume / Mix Higher volumes expected in all regions Asia: 7.4% 2010-2014E CAGR Europe: 4.0% CAGR N. America: 7.1% CAGR S. America: 6.6% CAGR Higher margin product lines expected to become larger proportion of sales portfolio, largely driven by busin
Slide 17: Moving Forward
Page 17 Moving Forward We will: Invest in those product segments where we believe we can achieve market leadership and competitive differentiation to drive above market returns For product segments and assets that do not meet these criteria, we will seek to maximize value on a thoughtful and discipl
Slide 18: Financial Disclosures
Visteon’ Financial Disclosures Climate + Electronics « Interiors - Lighting
Slide 19: Forward-Looking Information
Page 19 Forward-Looking Information This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various factors, risks and
Slide 20: Use of Non-GAAP Financial Information
Page 20 Throughout this presentation, the Company has provided information regarding certain non-GAAP financial measures. These measures include "free cash flow" and "Adjusted EBITDA." Free cash flow represents cash flow from operating activities less capital expenditures. Adjusted EBITDA represents
Slide 21: Adjusted EBITDA Reconciliation 2005, 2008 - 2010
Page 21 Adjusted EBITDA Reconciliation 2005, 2008 - 2010
Slide 22: www.visteon.com
Page 22 www.visteon.com
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