Standard Motor Products, Inc. · NYSE:SMP
Standard Motor Products — Investor Presentation (February 2023)
21 slides from Standard Motor Products's investor presentation, Feb 22, 2023
Slide 1: Standard Motor Products, Inc. Resegmentation Announcement
Standard Motor Products, Inc. Resegmentation Announcement February 22, 2023
Slide 2: Safe Harbor – Forward Looking Statements
Safe Harbor – Forward Looking Statements You should be aware that except for historical information, the matters discussed herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements, including projections and anticipat
Slide 3: New Alignment with Strategic Focus
New Alignment with Strategic Focus Announcing New Renaming the Engine Providing Greater Operating Segment Management Segment Clarity Vehicle Control New Subcategories This new segment focuses To better align the Company’s Provides greater clarity into how on custom designed parts operating categorie
Slide 4: Greater Visibility Into Our Performance
Greater Visibility Into Our Performance Clarity Provides better visibility of the unique dynamics and margin profiles across segments Collaboration Supports and expands SMP’s aftermarket position through sharing technologies and engineering expertise Market Expansion Broadens the Company’s target op
Slide 5: SMP Segment Transition Snapshot
SMP Segment Transition Snapshot Prior 2022 Segments Engine Management Wire and Temperature Control 73% Sales Mix Cable 27% Sales Mix 15% Other Compressors Climate Ignition, Control 58% Emissions, 42% Fuel & Safety 85% New 2023 Segments (2022 Sales) Vehicle Control Temperature Control Engineered Solu
Slide 6: Aftermarket Snapshot
Aftermarket Snapshot Aftermarket Net Sales Aftermarket EBITDA* & Margin% $1,200 $1,102 $175 $1,062 $147 $150 $965 $985 $969 $134 $130 $1,000 $124 $125 $107 Millions Millions $100 $800 $75 $50 $600 12.6% 13.9% 13.8% 11.8% $25 11.1% $400 $0 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 2022 Afterm
Slide 7: Engineered Solutions Snapshot
Engineered Solutions Snapshot Engineered Solutions Net Sales Engineered Solutions EBITDA* & Margin% $270 $40 $300 $30 $30 $237 $30 Millions Millions $200 $159 $153 $19 $127 $20 $15 $15 $100 $10 11.7% 11.8% 12.7% 11.3% 10.2% $0 $0 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 Commercial Vehicle -
Slide 8: Engineered Solutions Strategy
Engineered Solutions Strategy An extensive portfolio of adaptable products and a global network of resources positioned to serve a diverse customer base Global Reach Focused Customizable World Class with Local Growth Designs Manufacturing Support New Product Sales Support Adaptable Advanced quality
Slide 9: Why Invest in SMP
Why Invest in SMP Disciplined capital allocation Leader in Aftermarket with strategy driving organic and significant share; generating inorganic growth with consistent annual growth improving ROIC Engineered Solutions provides diversified and Longstanding business led fast growth potential by experi
Slide 10: Appendix
Appendix ‘SMP LU NE 1g JM Ne . \i 4B
Slide 11: Segment Reporting - Annual Sales and Profit by Segment
Segment Reporting - Annual Sales and Profit by Segment Years ending December 31 2021 2022 Vehicle Temperature Engineered Vehicle Temperature Engineered Control Control Solutions Other Total Control Control Solutions Other Total Net Sales 737,431 324,080 237,305 - 1,298,816 750,571 351,237 270,007 -
Slide 12: Segment Reporting - Mix by Segment
Segment Reporting - Mix by Segment Years ending December 31 2021 2022 Total Aftermarket - % by category Q1'21 Q2'21 Q3'21 Q4'21 FY 2021 Q1'22 Q2'22 Q3'22 Q4'22 FY 2022 Ignition, Emissions & Fuel 44.6% 39.6% 37.0% 47.8% 41.8% 43.6% 38.3% 37.4% 47.4% 41.3% Electrical & Safety 22.9% 19.2% 19.4% 23.8% 2
Slide 13: Segment Reporting - Vehicle Control By Quarter
Segment Reporting - Vehicle Control By Quarter Years ending December 31 2021 2022 Q1'21 Q2'21 Q3'21 Q4'21 FY 2021 Q1'22 Q2'22 Q3'22 Q4'22 FY 2022 Ignition, Emissions & Fuel $ 103,032 $ 112,107 $ 111,036 $ 118,021 $ 444,196 $ 109,149 $ 111,581 $ 117,750 $ 116,091 $ 454,571 Electrical & Safety 52,985
Slide 14: Segment Reporting – Temperature Control By Quarter
Segment Reporting – Temperature Control By Quarter Years ending December 31 2021 2022 Q1'21 Q2'21 Q3'21 Q4'21 FY 2021 Q1'22 Q2'22 Q3'22 Q4'22 FY 2022 AC System Components 36,515 77,854 86,429 30,668 231,466 47,374 81,608 90,341 26,161 245,484 Other Thermal Components 19,962 21,415 27,179 24,058 92,6
Slide 15: Segment Reporting – Engineered Solutions By Quarter
Segment Reporting – Engineered Solutions By Quarter Years ending December 31 2021 2022 Q1'21 Q2'21 Q3'21 Q4'21 FY 2021 Q1'22 Q2'22 Q3'22 Q4'22 FY 2022 Commercial Vehicle $ 15,339 $ 17,411 $ 22,989 $ 20,327 $ 76,066 $ 21,451 $ 19,503 $ 19,299 $ 20,022 $ 80,275 Construction / Agriculture 6,419 7,920 9
Slide 16: Analysis by Quarter (Percent of Net Sales)
Segment Reporting - Analysis by Quarter (Percent of Net Sales) Years ending December 31 2021 2022 Q1'21 Q2'21 Q3'21 Q4'21 FY 2021 Q1'22 Q2'22 Q3'22 Q4'22 FY 2022 Gross Margin (non-GAAP) Vehicle Control 33.2% 32.2% 31.7% 32.4% 32.4% 31.3% 28.9% 30.5% 33.1% 30.9% Temperature Control 26.8% 27.8% 29.2%
Slide 17: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations
Slide 18: Segment Reporting - Annual Sales and Profit by Segment Reconciliation
Segment Reporting - Annual Sales and Profit by Segment GAAP to non-GAAP Reconciliation Years Ending December 31 2021 2022 Vehicle Temp. Engineered Vehicle Temp. Engineered Controls Control Solutions Other Total Controls Control Solutions Other Total Net Sales 737,431 324,080 237,305 - 1,298,816 750,
Slide 19: Segment Reporting - 2022 Quarterly Sales and Profit by Segment
Segment Reporting - 2022 Quarterly Sales and Profit by Segment GAAP to non-GAAP Reconciliation March QTD 2022 June QTD 2022 SEPTEMBER QTD 2022 December QTD 2022 Vehicle Temp. Engineered Vehicle Temp. Engineered Vehicle Temp. Engineered Vehicle Temp. Engineered Controls Control Solutions Other Total
Slide 20: Segment Reporting - 2021 Quarterly Sales and Profit by Segment
Segment Reporting - 2021 Quarterly Sales and Profit by Segment GAAP to non-GAAP Reconciliation March QTD 2021 June QTD 2021 SEPTEMBER QTD 2021 December QTD 2021 Vehicle Temp. Engineered Vehicle Temp. Engineered Vehicle Temp. Engineered Vehicle Temp. Engineered Controls Control Solutions Other Total
Slide 21: Thank you
Thank you For more information, contact: Anthony (Tony) Cristello Standard Motor Products, Inc. (972) 316-8107 tony.cristello@smpcorp.com
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