Dover Corporation · NYSE:DOV

Dover — Barclays Industrial Select Conference 2022

17 slides from Dover's conference presentation, Feb 23, 2022

  1. Slide 1: Dover Corporation

    February 23, 2022 Dover Corporation Barclays Industrial Select Conference Rich Tobin, President & CEO

  2. Slide 2: Forward-Looking Statements and Non-GAAP Measures

    Forward-Looking Statements and Non-GAAP Measures We want to remind everyone that our comments may contain forward-looking statements that are inherently subject to uncertainties and risks, including the impacts of coronavirus (COVID-19) on the global economy and on our customers, suppliers, employee

  3. Slide 3: Dover Profile

    Dover Profile Highlights Segment Snapshot Engineered Clean Energy  Strong Businesses: Premium Products & Fueling industrial franchises that partner with customers for innovative equipment and components, consumable supplies, aftermarket parts, software and digital $1.8B $1.6B solutions, and support

  4. Slide 4: Q4 and 2021 Highlights

    Q4 and 2021 Highlights Revenue Bookings(2) Q4 ’21 FY ’21 Q4 ’21 FY ’21 All in: +12% to $2.0B +18% to $7.9B All in: +23% to $2.4B +35% to $9.4B (1) Organic : +22% +32% Organic(1): +11% +15% (2) Book-to-bill : 1.20 1.19 Free Cash Flow(1) Segment EBIT Margin(3) Q4 ’21 FY ’21 Q4 ’21 FY ’21 $M: $277M $94

  5. Slide 5: Portfolio Activity Update: >$1B Deployed in 2021

    Portfolio Activity Update: >$1B Deployed in 2021 Inorganic Portfolio Evolution Priorities 2018-21 Deals Runway Software / 2018-2020 2021 Spend ($M)1 & Priority Core Services Adjacencies  Grow in pumps  Hygienic pumps Pumps &  Hygienic and life science  ~$150 Process Solutions  Fluid path adjace

  6. Slide 6: Acquisition of Two Major Providers of Cryogenic Gas Solutions

    Acquisition of Two Major Providers of Cryogenic Gas Solutions Pro Forma Clean Energy Revenue Segmentation Enterprise Value $295M $631M Headquarters Allentown, PA Elon, NC Cryogenic Year Founded 1969 1918 Gases 32% Vacuum jacketed Valves, Key Products piping, valves, regulators, safety Revenue manifo

  7. Slide 7: Dover Strategy Delivers Through-Cycle Value Creation

    Dover Strategy Delivers Through-Cycle Value Creation Revenue and Adj. Segment EBIT Margin(1) Adj. Earnings Per Share(1) Adj. Segment EBIT Margin (%) Revenue ($B) +14-15% CAGR ~4-5% Org. $7.63 $8.45-$8.65 Rev CAGR(1) $5.93 $5.67 $4.97 $8.5-$8.7B $7.9B $7.0B $7.1B $6.7B ~25-35% 2018 2019 2020 2021 202

  8. Slide 8: Appendix

    Appendix 8

  9. Slide 9: Organic Revenue and Bookings Bridges

    Organic Revenue and Bookings Bridges Q4 2021 Organic Growth FY 2021 Organic Growth Revenue Bookings Revenue Bookings Organic Engineered Products 16.3% 19.7% 14.1% 33.2% Clean Energy & Fueling -4.3% -7.0% 5.8% 11.2% Imaging & Identification 2.8% 0.7% 8.0% 7.7% Pumps & Process Solutions 29.8% 26.3% 26

  10. Slide 10: Reconciliation of Q4 2021 Net Earnings to Adj. EBIT and Adj. EBITDA

    Reconciliation of Q4 2021 Net Earnings to Adj. EBIT and Adj. EBITDA and Calculation of Adj. EBIT Margin and Adj. EBITDA Margin by Segment Q4 2021 ($ in millions) DEP DCEF DII DPPS DCST Total Revenue 463 411 292 447 376 1,989 Net earnings - - - - - 363 Add back: Corporate expense - - - - - 48 Interes

  11. Slide 11: Reconciliation of Q4 2020 Net Earnings to Adj. EBIT and Adj. EBITDA

    Reconciliation of Q4 2020 Net Earnings to Adj. EBIT and Adj. EBITDA and Calculation of Adj. EBIT Margin and Adj. EBITDA Margin by Segment Q4 2020 ($ in millions) DEP DCEF DII DPPS DCST Total Revenue 394 409 288 347 342 1,780 Net earnings - - - - - 182 Add back: Corporate expense - - - - - 40 Interes

  12. Slide 12: Reconciliation of Adjusted Net Earnings to Net Earnings and Adjusted Diluted EPS

    Reconciliation of Adjusted Net Earnings to Net Earnings and Adjusted Diluted EPS to Diluted EPS ($ in millions, except per share data) Q4 2021 Q4 2020 FY 2021 FY 2020 FY 2019 FY 2018 Net earnings from continuing operations ($) 363 182 1,124 683 678 591 Acquisition-related amortization, pre tax 36 35

  13. Slide 13: Reconciliation of FY 2018-21 Earnings to Adj. Segment EBIT

    Reconciliation of FY 2018-21 Earnings from Continuing Operations to Adj. Segment EBIT and Calculation of Adj. EBIT Margin ($ in millions) FY 2021 FY 2020 FY 2019 FY 2018 Revenue 7,907 6,684 7,136 6,992 Earnings from continuing operations 1,124 683 678 591 Add back: Corporate expense 161 127 124 130

  14. Slide 14: Reconciliation of Free Cash Flow and EPS to Adjusted EPS

    Reconciliation of Free Cash Flow and EPS to Adjusted EPS Free Cash Flow ($ millions) Q4 2021 Q4 2020 FY 2021 FY 2020 Net Cash Provided by Operating Activities 327 418 1,116 1,105 Capital Expenditures (50) (42) (171) (166) Free Cash Flow 277 376 944 939 Free Cash Flow as a % of Net Earnings 76% 206%

  15. Slide 15: Non-GAAP Definitions

    Non-GAAP Definitions Definitions of Non-GAAP Measures: Adjusted Net Earnings: is defined as net earnings adjusted for the effect of acquisition-related amortization, rightsizing and other costs/benefits, gain/loss on dispositions, loss on extinguishment of debt, loss on assets held for sale, and the

  16. Slide 16: Performance Measure Definitions

    Performance Measure Definitions Definitions of Performance Measures: Bookings represent total orders received from customers in the current reporting period. This metric is an important measure of performance and an indicator of revenue order trends. Organic Bookings represent total orders received

  17. Slide 17: Slide 17

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