Belden Inc · NYSE:BDC
Belden — Investor Day (December 2017)
10 slides from Belden's investor day presentation, Dec 5, 2017
Slide 1: Proven Track Record
PROVEN FAVORABLE CAPITAL NEW 2018 TRACK SECULAR ALLOCATION FINANCIAL GUIDANCE RECORD TRENDS FRAMEWORK GOALS Significant growth and margin opportunities 1 | ©2017 Belden Inc. belden.com @beldeninc
Slide 2: Financial Performance
Financial Performance 3-YEAR FINANCIAL PERFORMANCE 3-YEAR FINANCIAL GOALS (2014 – 20171) (2017 – 2020) Revenue 4% 5-7% CAGR2 EBITDA Margin 15.5% à 18.9% 20-22% (+340 bps) Free Cash Flow 13% 13-15% CAGR Return on 13.0% à 13.5% 13-15% Invested Capital3 (+50 bps) Adjusted results. Please see appendix f
Slide 3: Fiscal Year 2018 Outlook
Fiscal Year 2018 Outlook Revenues EPS of between of between $2.492 billion and $5.95 and $6.20 $2.542 billion per diluted share 3 | ©2017 Belden Inc. belden.com @beldeninc Management’s best estimate. Adjusted results. See appendix for reconciliation to comparable GAAP results.
Slide 4: 2018 Assumptions
2018 Assumptions Organic growth of 1-3% $68M interest expense Tax Rate of 20% versus approximately 18% in 2017 No impact of potential 2018 M&A and Share Repurchases 4 | ©2017 Belden Inc. belden.com @beldeninc
Slide 5: 2018 EPS Bridge
2018 EPS Bridge $0.11- $0.36 $5.95- $0.13 $6.20 $0.08 $0.26 $0.05 ($0.18) $5.50 2017 Mid- Tax Rate Interest 2017 Currency Productivity Organic 2018 Point Expense Acquisition / Growth 1 Divestiture CLEAR PATH TO ACHIEVING 8-13% EARNINGS GROWTH IN 2018 Management’s best estimate. Adjusted results. See
Slide 6: Investment Thesis
Investment Thesis R Proven Track Record 2005 – 2017 Revenue +6% CAGR to $2.4B | EBITDA +1,040 bps to 18.9% | FCF +16% CAGR to $225M | ROIC +940 bps to 13.5% Secular Tailwinds Industrial Automation | Smart Buildings | Video Consumption | Bandwidth EBITDA Margin Upside 15.5% in 2014 | 18.9% in 2017 |
Slide 7: Appendix
Appendix 7 | ©2017 Belden Inc. belden.com @beldeninc
Slide 8: Reconciliation of Non-GAAP Measures: Adjusted EBITDA
Reconciliation of Non-GAAP Measures: Adjusted EBITDA (Unaudited) In addition to reporting financial results in accordance with accounting principles generally accepted in the United States, we provide non-GAAP operating results adjusted for certain items, including: asset impairments; accelerated de
Slide 9: Reconciliation of Non-GAAP Measures: Free Cash Flow
Reconciliation of Non-GAAP Measures: Free Cash Flow (Unaudited) We define free cash flow, which is a non-GAAP financial measure, as net cash from operating activities adjusted for capital expenditures net of the proceeds from the disposal of tangible assets. We believe free cash flow provides useful
Slide 10: Reconciliation of Non-GAAP Measures: 2018 Earnings Guidance
Reconciliation of Non-GAAP Measures: 2018 Earnings Guidance Our guidance for income per diluted share attributable to Belden common stockholders is based upon information currently available regarding events and conditions that will impact our future operating results. In particular, our results are