Slide 1: Second Quarter 2020 Earnings Presentation
Second Quarter 2020 Earnings Presentation August 1 2020
Slide 2: Legal Notices
Legal Notices SAFE HARBOR Please note that in this presentation, we may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statement
Slide 3: Second Quarter 2020 Financial Results
Second Quarter 2020 Financial Results Constant ▪ Organic net sales* declined 15%, primarily due Currency* Organic* to COVID-19-related production declines in automotive markets, particularly in the Americas ($ in millions) Q2 2020 Q2 2019 YoY YoY YoY and Europe, which impacted both segments Net Sale
Slide 4: Second Quarter 2020 Segment Details
Second Quarter 2020 Segment Details Market Commentary Electronics Net Sales ($ in millions) ▪ Assembly: decline primarily due to COVID-19-related 268 3% automotive production stoppages; in Asia, growth in 3% 253 China and Taiwan was offset by the impact of a partial 1% (2)% country-wide shutdown in
Slide 5: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Key Cash Flow Items Balance Sheet Management ▪ Q2 2020 free cash flow* of $61 million; YTD Q2 2020 free ▪ Net debt to adj. EBITDA ratio* of 3.2x on a LTM basis as of cash flow* of $111 million June 30, 2020 ▪ Significant Q2 2020 working capital release due to active and ▪
Slide 6: Near Term Financial Outlook
Near Term Financial Outlook ▪ Expect sequential net sales growth as end-markets rebound from COVID-19-related supply chain disruptions in Q2; expect year-over-year organic net sales to decline o Automotive and mobile phone outlooks remain negative relative to prior year Third Quarter 2020 ▪ Year-ove
Slide 7: Appendix
Appendix 7
Slide 8: Capital Structure
Capital Structure ($ millions) Instrument Maturity Coupon 6/30/2020 Corporate Revolver 1/31/2024 LIBOR plus 2.25% $— First Lien Credit Facility - USD Term Loans1 1/31/2026 LIBOR plus 2.00% 739 Other Secured Debt 1 Total First Lien Debt $739 Senior Notes due 2025 12/1/2025 5.875% 800 Total Unsecured
Slide 9: Reconciliation to Adjusted Share Counts
Reconciliation to Adjusted Share Counts (amounts in millions) Q2 2020 Q2 2019 Common shares outstanding 249 257 Number of shares issuable upon conversion of Series A Preferred Stock — 2 Number of shares issuable upon vesting of granted Equity Awards1 3 3 Adjusted common shares outstanding 252 261 No
Slide 10: Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA
Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA ($ millions) Q2 2020 Q2 2019 Net income attributable to common stockholders $1 $2 Add (subtract): Net loss attributable to the non-controlling interests — (0) Loss from discontinued operations, net of tax 1 13 Income tax ex
Slide 11: Net Debt to Adj. EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis
Net Debt to Adj. EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis ($ millions) YTD 2020 Q3 2019 Q4 2019 LTM Q2 2020 Net income (loss) attributable to common stockholders $10 $(7) $74 $77 Add (subtract): Net income attributable to the non-controlling interests — — 0 0 Loss (income) from d
Slide 12: GAAP Net Income Reconciliation to Adjusted Diluted EPS
GAAP Net Income Reconciliation to Adjusted Diluted EPS ($ millions, except per share amounts) Q2 2020 Q2 2019 Net income attributable to common stockholders $1 $2 Net loss from discontinued operations attributable to common stockholders (1) (13) Net income from continuing operations attributable to
Slide 13: Organic Net Sales Growth Reconciliation
Organic Net Sales Growth Reconciliation Three Months Ended June 30, 2020 Change in Pass- Reported Net Impact of Constant Organic Net Sales Through Metals Acquisitions Sales Growth Currency Currency Growth Pricing Electronics (5)% 2% (4)% 2% (5)% (6)% Industrial & Specialty (29)% 3% (26)% —% —% (26)%
Slide 14: Non-GAAP Definitions
Non-GAAP Definitions Adjusted Earnings Per Share (EPS): Adjusted EPS is a key metric used by management to measure operating performance and trends. In particular, the exclusion of certain expenses in calculating adjusted EPS facilitates operating performance comparisons on a period-to-period basis.