Cooper-standard Holdings Inc. · NYSE:CPS
Cooper-standard — Q4 2024 Earnings Presentation
24 slides from Cooper-standard's earnings presentation, Feb 14, 2025
Slide 1: Fourth Quarter and Full Year 2024 Earnings Presentation
Creating Sustainable Solutions TOGETHER Fourth Quarter and Full Year 2024 Earnings Presentation February 14, 2025
Slide 2: Agenda
Agenda Introduction Roger Hendriksen | Director, Investor Relations 2024 Year in Review Jeff Edwards | Chairman and Chief Executive Officer Financial Overview Jon Banas | Executive VP and Chief Financial Officer Strategic Overview and Outlook Jeff Edwards Q&A 2
Slide 3: Forward-Looking Statements
Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of U.S. federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Our use of words “estimate,” “expect,” “anticipate,” “project,” “pl
Slide 4: 2024 Year in Review
2024 Year in Review Jeff Edwards, Chairman and CEO 4
Slide 5: Best Operational Performance in Company History
Best Operational Performance in Company History Overcoming Strong Headwinds to Deliver on Margin Expansion and Cash Commitments 97% World-class Quality 97% World-class Service 0.30 World-class Safety 22 World-class Safety Green Customer Scorecards Green Launch Scorecards Total Incident Rate (TIR) Pl
Slide 6: Performance Wins Recognition and New Business Orders
Performance Wins Recognition..... and New Business Orders COMMITMENT TO EXCELLENCE 6
Slide 7: Financial Overview
Financial Overview Jon Banas, Executive VP and CFO 7
Slide 8: Financial Results
Financial Results (USD millions, except per share amounts) Three Months Ended December 31, Twelve Months Ended December 31, 2024 2023 2024 2023 Sales $ 660.8 $ 673.6 $ 2,730.9 $ 2,815.9 Gross Profit $ 82.0 $ 64.7 $ 302.9 $ 290.8 % Margin 12.4 % 9.6 % 11.1 % 10.3 % Adjusted EBITDA1 $ 54.3 $ 27.6 $ 18
Slide 9: Q4 2024 Bridge Analysis
Q4 2024 Bridge Analysis (USD millions) Sales Adjusted EBITDA1 $0 $0 2 2 1 See Appendix for definitions and reconciliation to U.S. GAAP. 2 Net of customer price adjustments. Includes impact of material cost and inflation recoveries. Totals may not add due to rounding. 9
Slide 10: FY 2024 Bridge Analysis
FY 2024 Bridge Analysis (USD millions) Sales Adjusted EBITDA1 $0 $0 2 2 1 See Appendix for definitions and reconciliation to U.S. GAAP. 2 Net of customer price adjustments. Includes impact of material cost and inflation recoveries. Totals may not add due to rounding. 10
Slide 11: Positive Free Cash Flow Performance Adds to Solid Liquidity
Positive Free Cash Flow Performance Adds to Solid Liquidity Free Cash Flow1 Liquidity - December 31, 2024 (millions) (millions) Quarter Ended Year Ended December 31, December 31, $339.2m 2024 2023 2024 2023 ABL availability Net cash provided by operating activities $ 74.7 $ 79.7 $ 76.4 $ 117.3 Capit
Slide 12: Strategic Overview and Outlook
Strategic Overview and Outlook Jeff Edwards, Chairman and CEO 12
Slide 13: Delivering Award-winning Innovations
Delivering Award-winning Innovations Plastic Coolant Hub Technology FlexiCore Thermoplastic Body Seal 13
Slide 14: Innovations Enable Partnering on Key Customer Programs
Innovations Enable Partnering on Key Customer Programs Cooper Standard Top Vehicle Platforms for 2025 • Top 10 platforms account for ~45% of planned 2025 revenue • Unweighted average content per vehicle (CPV) across top 10 platforms is ~$190 • Heavily weighted toward high-volume trucks, SUVs and CUV
Slide 15: Powertrain Evolution Generating Increased CPV Opportunities
Powertrain Evolution Generating Increased CPV Opportunities Innovative Solutions Address Increasingly Complex Thermal Management Requirements Comparative Fluids CPV* + 80% +20% *Based on 2024 actual programs, weighted average for North America, Europe and China. Includes all current fluids products.
Slide 16: Powertrain Trends + Innovation Driving Favorable Growth Outlook
Powertrain Trends + Innovation Driving Favorable Growth Outlook Fluid Handling Segment Sales Expected to Increase by More than 50% in the Next 5 Years1 +6% • Powertrain evolution is driving new business and CPV growth ◦ 40% of all net new business awards over the past -35% two years related to Hybri
Slide 17: Relentless Focus on Our Strategic Imperatives
Relentless Focus on Our Strategic Imperatives FINANCIAL STRENGTH WORLD-CLASS PROFITABLE GROWTH CORPORATE RESPONSIBILITY EXECUTION DRIVEN BY INNOVATION Execute our business plans Deliver value to all our stakeholders achieving and sustaining Attain world-class results Leverage our materials science a
Slide 18: 2025 Outlook: Continued Margin Expansion
2025 Outlook: Continued Margin Expansion EBITDA Margin to Reach Double Digits by Fourth Quarter Despite Lower Production Volume 2025 Initial 2024 Actuals Guidance1 Adjusted EBITDA2 Guidance Bridge Analysis (Estimates Based on Mid-point of Provided Range) Sales $2.73 billion $2.7 - $2.8 billion Adj.
Slide 19: G CooperStandard
G CooperStandard 19
Slide 20: Appendix
|! Appendix G CooperStandard 20
Slide 21: Non-GAAP Financial Measures
Non-GAAP Financial Measures EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted earnings (loss) per share and free cash flow are measures not recognized under U.S. GAAP and which exclude certain non-cash and special items that may obscure trends and operating perfor
Slide 22: EBITDA and Adjusted EBITDA Reconciliation
EBITDA and Adjusted EBITDA Reconciliation (Unaudited, dollar amounts in thousands) Quarter Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Net income (loss) attributable to Cooper-Standard Holdings Inc. $ 40,214 $ (55,152) $ (78,746) $ (201,985) Income tax (benefit) expense (38,420) (
Slide 23: Adjusted Net Loss and Adjusted Loss Per Share
Adjusted Net Loss and Adjusted Loss Per Share (Unaudited, dollar amounts in thousands except share and per share amounts) Quarter Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Net income (loss) attributable to Cooper-Standard Holdings Inc. $ 40,214 $ (55,152) $ (78,746) $ (201,985)
Slide 24: Free Cash Flow
Free Cash Flow (Unaudited, dollar amounts in thousands) Quarter Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Net cash provided by operating activities $ 74,722 $ 79,661 $ 76,369 $ 117,277 Capital expenditures (11,484) (17,559) (50,498) (80,743) Free cash flow $ 63,238 $ 62,102 $ 25
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