Nwpx Infrastructure, Inc. · NASDAQ:NWPX
Nwpx Infrastructure — Northwest Pipe — Shareholder Meeting (May 2013)
23 slides from Nwpx Infrastructure's shareholder meeting presentation, May 31, 2013
Slide 1: 2013 Annual Shareholder Meeting
2013 Annual Shareholder Meeting May 31, 2013 Exhibit 99.1
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation includes certain estimates and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements with respect to anticipated operating and financial performance, growth opportunitie
Slide 3: Who Are We?
Who Are We? • Diversified manufacturer of welded steel pipe for the water infrastructure and energy markets – Specializing in large diameter, high pressure, engineered steel water pipe systems for transporting raw water to treatment plants and for treatment plant infrastructure – Also focused on API
Slide 4: Northwest Pipe Company Locations
Northwest Pipe Company Locations
Slide 5: Net Sales
Net Sales $600 $500 $451 $400 $300 $279 $200 $100 $0 2008 2009 2010 2011 2012 $525 (Q] Northwest Pipe Company pe
Slide 6: Income Statement Summary
($ in millions) 2011 2012 Q1-2013 Income Statement Summary Net Sales Water Transmission $ 271.9 $ 269.2 $ 78.6 Tubular Products 239.8 255.3 62.0 Net Sales 511.7 524.5 140.6 Gross Profit Water Transmission 43.2 45.1 19.9 Tubular Products 15.9 11.1 1.3 Gross Profit 59.1 56.2 21.2 SG&A 26.3 28.6 6.4 Op
Slide 7: Balance Sheet Summary
($ in millions) Dec. 31, 2011 Dec. 31, 2012 Mar. 31, 2013 Balance Sheet Summary Assets Cash and Cash Equivalents $ 0.2 $ 0.0 $ 0.0 Trade and Other Receivables, Net 69.9 41.5 65.4 Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts 38.0 73.3 70.0 Inventories 107.2 113.5 109.6
Slide 8: Northwest Pipe Company
_ Northwest Pipe Company
Slide 9: Emerging Presence in Energy Tubular Business
Emerging Presence in Energy Tubular Business • Expanding customer base • Growing downstream processing capabilities • Improving operational efficiency • Recognizing areas of strength
Slide 10: Tubular Net Sales by Product Group
Tubular Net Sales $$ by Product Group
Slide 11: Tubular Net Sales by Value Added Energy Product
Tubular Net Sales $$ by Value Added Energy Product
Slide 12: Uptime
Uptime 80% 60% 40% 20% l 0% Atchison 401 Atchison402 Bossier City Northwest Pipe Company Houston 2012 YTD 2013 page
Slide 13: U.S. Rig Counts
U.S. Rig Counts Source: Pipe Exchange May 2013
Slide 14: Impact of Imports
Impact of Imports • Import levels continue to have a major impact on the API market • Import levels in OCTG market at 48% • Import levels in Line Pipe market at 64% • Downward pressure on price in OCTG and Line Pipe
Slide 15: Outlook
Outlook • Near term outlook • Long term outlook
Slide 16: Northwest Pipe Company
_ Northwest Pipe Company
Slide 17: Well Positioned Industry Leader
Well Positioned Industry Leader • Largest, most flexible capacity in the market • Strong relationships with public water agencies, contractors and engineering firms – Assist in development process of projects prior to bidding • Competitive position – Experienced workforce – Low freight costs – Excel
Slide 18: Current Conditions and a Look Ahead
Current Conditions and a Look Ahead • In 2013, water infrastructure projects compete with other infrastructure needs and municipal funding decreases • The bidding activity is down in 2013, compared to 2012 and 2011 • Emergency drought-related work and expected infrastructure projects in Texas should
Slide 19: $200 $173 $150 $138 $136 $100 $50 $0 Q4 2011 Q4 2012 Q1 2013
$200 $173 $150 $138 $136 $100 $50 $0 Q4 2011 Q4 2012 Q1 2013 (Q] Northwest Pipe Company pe
Slide 20: Tarrant Regional Water District Integrated Pipeline Project (IPL)
Tarrant Regional Water District Integrated Pipeline Project (IPL) Source: Tarrant Regional Water District http://www.iplproject.com/about-the-ipl/map/ • The pipeline will run from Lake Palestine to Lake Benbrook, with connections to Cedar Creek and Richland-Chambers Reservoirs • It will integrate TR
Slide 21: Timeline / Project Components
Timeline / Project Components • IPL Components: – 150 miles of buried pipeline • 72” – 108” diameter welded steel pipe • 3 lake intake pump stations • 2 booster pump stations – Water delivery could begin by 2021 – Communities served: • DFW metroplex • Ellis County – Cost estimated to be over $1.6 B
Slide 22: Northwest Pipe Strategic Plans
Northwest Pipe Strategic Plans • Optimize recent capital investments • Lean manufacturing focus • Continue modernization of Atchison facility • Focus growth plans around areas of strength • Double EBITDA from 2011 to 2015
Slide 23: 2013 Annual Shareholder Meeting
2013 Annual Shareholder Meeting May 31, 2013