Cooper-standard Holdings Inc. · NYSE:CPS
Cooper-standard — Q3 2010 Earnings Presentation
19 slides from Cooper-standard's earnings presentation, Nov 15, 2010
Slide 1: Cooper Standard 3Q 2010 Third Quarter Earnings Call
Cooper Standard 3Q 2010 Third Quarter Earnings Call November 15, 2010 Exhibit 99.2
Slide 2: Introduction & Agenda
Introduction & Agenda Introduction Glenn Dong Vice President and Treasurer Executive Overview Jim McElya Chairman and Chief Executive Officer Commercial Highlights Ed Hasler President Financial Overview Allen Campbell Chief Financial Officer Question & Answers
Slide 3: Safe Harbor
Safe Harbor In addition to historical information, certain statements contained herein are forward-looking statements within the meaning of federal securities laws, and Cooper Standard Automotive (Cooper Standard) intends that such forward-looking statements be subject to the safe-harbor created the
Slide 4: Safe Harbor
Safe Harbor This presentation includes forward-looking statements, reflecting current analysis and expectations, based on what are believed to be reasonable assumptions. Forward-looking statements may involve known and unknown risks, uncertainties and other factors, which may cause the actual result
Slide 5: Executive Overview Q3 2010
Jim McElya Chairman & CEO Executive Overview Q3 2010
Slide 6: Executive Overview
Executive Overview • Solid financial performance • Increased gross profit margin • Year-to-date gross business awards of $527 million* • Strong balance sheet * Based on currently estimated production volumes for the future periods pertaining to the awards; includes new, replacement and conquest busi
Slide 7: Executive Overview
Executive Overview • Global automotive production improving, with continued growth in BRIC regions • Established presence in Brazil, China and India yielding results • Industry consolidation creating opportunities
Slide 8: Commercial Highlights
Commercial Highlights • Cooper Standard sales growth continues • Recognized by customers for quality excellence • Nominated for innovation award • Well positioned in emerging markets
Slide 9: BRIC Operations
Country # of Plants Customers Product Lines BRIC Operations Brazil Fiat Ford GM Honda Hyundai Body Sealing Fuel, Brake & Emissions Thermal Management Power Management Russia Evolving opportunities India Ford Isuzu Mitsubishi Hindustan Motors SAIC/GM Tata Suzuki Body Sealing Fuel, Brake & Emissions T
Slide 10: Sales By Region & Product Groups
Sales By Region & Product Groups YTD Total 2010 = $1.81 Billion Sales By Region North America 52% Europe 34% Asia Pacific 8% South America 6% Sales By Product Groups Sealing 48% Fuel, Brake & Emissions 29% Thermal Mangement 10% Non-Automotive 5% Anti-Vibration Systems 8%
Slide 11: Cooper Standard's Top Platforms Q3 2010
Cooper Standard’s Top 20 Platforms Q3 2010 #5 GM Silverado/Sierra #2 Ford Tribute/Escape #20 Chrysler Plymouth Voyager #1 Ford F-150 #7 Ford Fusion / Edge #9 Ford Ecosport/Fiesta #12 Chrysler Sebring /Avenger/Compass #8 Ford Mondeo/Freelander/V50/V70 #15 Fiat Palio/Strada/Doblo #3 GM Tahoe/Yukon/ Es
Slide 12: Financial Overview
Financial Overview Q3 2010 Allen Campbell Chief Financial Officer Due to Cooper Standard’s adoption of fresh start reporting on May 31, 2010, in some of its financial reports, the company’s financial information for periods ended on or prior to May 31, is described as relating to Predecessor periods
Slide 13: Q3 and YTD September 2010 Performance
Q3 and YTD September 2010 Performance $ Millions Q3 2009 Q3 2010 Net Sales $517.7 $585.7 Operating Profit (Loss) $24.8 $28.8 Gross Profit $82.1 $102.1 YTD 2009 YTD 2010 $1,367.7 $1,810.4 $(381.4) $116.5 $175.2 $312.8 Net Income (Loss) $10.8 $20.8 $(393.5) $662.1 Adjusted EBITDA $67.2 $105.7 $214.8 $
Slide 14: EBITDA and Adjusted EBITDA Reconciliation
EBITDA and Adjusted EBITDA Reconciliation $ USD Millions Net Income (Loss) $(393.5) $ 662.1 Provision for income tax expense (31.3) EBITDA $ (283.1) $ 838.6 Restructuring 32.9 7.1 Adjusted EBITDA $ 105.7 $ 214.8 45.3 9 Months Ended September 30th Net Interest expense 53.6 58.7 Depreciation and amort
Slide 15: Cash Flow 3Q 2010
Cash Flow 3Q 2010 Cash Balance as of June 30 188.7 $ Cash generated 43.6 Cash Balance as of September 30 232.3 $ ($ in Millions) Q3 - 2010 Cash from Operations 60.7 $ Changes in operating assets & liabilities 13.7 Cash from Operations 74.4 $ Capital Expenditures (17.4) Cash from Operations less CAPE
Slide 16: Liquidity as of September 30, 2010
Liquidity as of September 30, 2010 Cash on Balance Sheet $232.3M ABL Revolver 125.0M Letters of Credit (36.3)M Total Liquidity $321.0 M Flexible capital structure allows for future growth opportunities • 23% increase in cash from the prior quarter • ABL Revolver undrawn • Net leverage = $245 million
Slide 17: Non-GAAP Financial Measures
Non-GAAP Financial Measures EBITDA and adjusted EBITDA are measures not recognized under Generally Accepted Accounting Principles (GAAP) which exclude certain non-cash and non- recurring items. When analyzing the company’s operating performance, investors should use EBITDA and adjusted EBITDA in add
Slide 18: Questions & Answers
Questions & Answers
Slide 19: Closing Comments
Closing Comments • Solid 2010 results • Strong balance sheet • Positive customer relationships • Well positioned for global expansion
Cooper-Standard Holdings — Q3 2010 Earnings Presentation on 6ix