Slide 1: First Quarter 2013 Earnings Release Presentation
1 Stoneridge, Inc . First Quarter 2013 Earnings Release Presentation May 9, 2013 Exhibit 99.2
Slide 2: Forward Looking Statements
Statements in this presentation that are not historical facts (including, but not limited to, 2013 net sales guidance) are forward - looking statements, which involve risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by the stateme
Slide 3: Forward Looking Statements (cont'd)
Forward Looking Statements (cont’d) Also, see Rounding Differences Disclosure below These factors should not be construed as exhaustive and should be considered with the other cautionary statements in Stoneridge’s filings with the Securities and Exchange Commission. Forward - looking statements are
Slide 4: Sales, Gross Profit, & Op Income – 1Q12 vs 1Q13
Sales, Gross Profit, & Op Income – 1Q12 vs 1Q13 1Q12 1Q13 SRI Variance millions SRI Core PST Ops PST PPA SRI $ % Sales 262.3 193.3 42.4 0.0 235.7 (26.6) (10.1%) COGS 197.1 152.3 24.4 0.3 177.0 (20.1) (10.2%) Gross Profit 65.1 41.0 18.1 (0.3) 58.7 (6.4) (9.8%) GP % to Sales 24.8% 21.2% 42.6% 24.9% SG
Slide 5: Sales by Segment – 1Q13 vs 1Q12
Sales by Segment – 1Q13 vs 1Q12 1Q13 1Q12 CD ELEC WIRING PST SRI CD ELEC WIRING PST SRI Pass Car / Light Truck 56.5 1.0 0.2 0.0 57.6 53.5 1.2 0.4 0.0 55.1 Med / HD Truck 5.6 42.7 41.5 0.8 90.7 6.7 40.8 56.9 0.0 104.4 Ag 4.6 0.0 33.9 0.0 38.6 4.0 0.4 37.6 0.0 41.9 PST / Other 5.1 0.8 1.3 41.6 48.8 6.
Slide 6: 1Q12 vs 1Q13 EPS Bridge
1Q12 vs 1Q13 EPS Bridge PST Impacts SRI Core TOTAL Volume (0.05) (0.12) (0.17) Mix / Direct Material 0.00 (0.03) (0.03) Copper 0.00 0.03 0.03 FX (0.02) (0.01) (0.03) Other 0.00 (0.03) (0.03) Interest 0.01 0.01 0.02 SGA Drop / Cost Reduction 0.09 0.03 0.12 PST Cost Reduct / Purchase Acctg 0.02 0.00 0
Slide 7: North American Light Vehicle Production
15,440 16,079 20122 2013 Thousands North American Light Vehicle Production Source: IHS April 2013 3,964 3,987 3,667 3,822 3,984 4,162 3,917 4,016 0.6% (8.0)% 4.2% 4.2% 4.4% (5.9)% 2.5% Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Thousands Auto Qtr vs Qtr % ∆ ↑ 4.1% Guidance deriv
Slide 8: N.A. Medium Duty Truck Production
186,660 201,205 2012 2013 N.A. Medium Duty Truck Production Source: LMC April 2013 ( previous known as JD Power) 48,200 49,903 42,427 46,130 51,965 53,959 47,644 47,637 3.5% (15.0)% 8.7% 12.6% 3.8% (11.7)% (0.0)% Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 NA N.A. Qtr vs Qtr % ∆
Slide 9: N.A. Heavy Duty Truck Production
278,929 263,123 2012 2013 N.A. Heavy Duty Truck Production Source: LMC April 2013 (previous known as JD Power) 77,779 78,298 64,946 57,906 57,304 65,805 68,507 71,507 0.7% (17.1)% (10.8)% (1.0)% 14.8% 4.1% 4.4% Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 NA N.A. Qtr vs Qtr % ∆ ↓
Slide 10: W Europe Heavy Duty Truck Production
300,206 272,818 2012 2013 W Europe Heavy Duty Truck Production Source: LMC April 2013 (previous known as JD Power) 74,601 75,853 70,496 79,256 64,710 65,132 61,207 81,769 1.7% (7.1)% 12.4% (18.4)% 0.7% (6.0)% 33.6% Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Europe Europe Qtr vs
Slide 11: PST Purchase Price Accounting Expense [Non Cash]
PST Purchase Price Accounting Expense [Non Cash] (millions) Q1 Q2 Q3 Q4 Full Year 2012 1Q Est. 2013 COGS / DM Inventory Write Up $1.8 $1.4 $0.0 $0.0 $3.2 $0.0 $0.0 COGS / Depreciation – Fixed Asset Write Up $0.4 $0.3 $0.3 $0.3 $1.3 $0.3 $1.0 SGA / Amortized Intangibles $1.0 $1.1 $1.3 $1.3 $4.7 $1.6
Slide 12: Improving Direct Material Costs in 2H12
Improving Direct Material Costs in 2H12 1Q12 2Q12 1 st Half 3Q12 4Q12 2 nd Half FY 2012 1Q13 Core Direct Material 56.2% 56.7% 56.4% 56.0% 54.9% 55.4% 56.0% 53.9% PST Direct Material * 38.0% 37.8% 37.9% 37.0% 32.1% 34.5% 36.2% 34.9% * Excludes Purchase Accounting Expense • Commodity based material pr
Slide 13: Wiring Plant Operations Continuous Improvements
Wiring Plant Operations Continuous Improvements DELIVERY Past Due Premium Freight Pieces $ % FY 2012 vs FY 2011 Current w/ all customers $(4.8) (75.5)% Labor Efficiency Mar 2011 vs. Dec 2011 2012 Count % Count % Headcount (1,075) (17.1)% (587) (12.8)% Wiring Business Productivity % % Mar 2011 vs. De
Slide 14: Sales, Gross Profit, & Op Income – 4Q12 vs 1Q13
Sales, Gross Profit, & Op Income – 4Q12 vs 1Q13 42.4 24.7 17.8 16.8 1.0 193.3 152.3 41.0 31.7 9.3 0% 20% 40% 60% 80% 100% Sales COGS Gross Profit SGA Op Income PST Core 4Q12 1Q13 SRI Variance millions SRI Core PST Ops PST PPA SRI $ % Sales 222.7 193.3 42.4 0.0 235.7 13.0 5.8% COGS 168.1 152.3 24.4 0
Slide 15: Sales by Segment – 1Q13 vs 4Q12
Sales by Segment – 1Q13 vs 4Q12 1Q13 4Q12 CD ELEC WIRING PST SRI CD ELEC WIRING PST SRI Pass Car / Light Truck 56.5 1.0 0.2 0.0 57.6 49.9 0.5 0.0 0.0 50.4 Med / HD Truck 5.6 42.7 41.5 0.8 90.7 6.1 39.7 40.8 0.0 86.6 Ag 4.6 0.0 33.9 0.0 38.6 3.7 0.5 31.9 0.0 36.1 PST / Other 5.1 0.8 1.3 41.6 48.8 4.4
Slide 16: 4Q12 vs 1Q13 EPS Bridge
4 Q12 vs 1Q13 EPS Bridge PST Impacts SRI Core TOTAL Volume (0.03) 0.11 0.08 Mix / Direct Material 0.00 (0.02) (0.02) Copper 0.00 0.02 0.02 FX 0.00 0.02 0.02 Other 0.00 0.03 0.03 Interest 0.00 0.00 0.00 SGA Drop / Cost Reduction 0.00 (0.07) (0.07) PST Cost Reduct / Purchase Acctg (0.01) 0.00 (0.01) T
Slide 17: Cash Flow
Stoneridge Inc USD [millions] 2011 1Q12 2Q12 3Q12 4Q12 2012 1Q13 Actual Actual Actual Actual Actual Actual Actual Beginning Cash 72.0 78.7 42.9 39.2 35.6 78.7 44.6 Consolidated Net Income 45.5 5.7 (5.3) 0.6 2.7 3.7 4.3 Depreciation / Amortization 20.0 9.0 9.1 9.0 8.3 35.3 9.2 Working Capital (45.5)
Slide 18: Debt / Net Debt
Debt / Net Debt (millions USD) 2011 1Q12 2Q12 3Q12 2012 1Q13 Total Debt $267.1 $253.2 $244.9 $222.3 $201.4 $211.2 Net Debt $188.4 $210.2 $205.8 $186.7 $156.8 $164.4 Total Debt / Adj.EBITDA 3.5 x 1 2.9 x 3.3 x 3.6 x ABL Balance $38.0 $31.0 $25.0 $11.0 $0.0 $0.0 Brazil Debt $54.1 $47.2 $43.8 $34.2 $24
Slide 19: 2013 Guidance
2013 Guidance Sales [millions] Operating Margin EPS Gross Margin Core $765 - $785 21.5% - 23.0% 4.5% – 5.5% PST (2013 F/X Rate 2.05) $174 – $184 44.0% - 47.0% 4.5% - 5.5% * SRI $939 - $974 25.5% - 27.0% 4.5% - 5.5% * $0.75 - $0.95 8.4% - 9.2% EBITDA ** * Includes Purchase Accounting Expenses of $6.0
Slide 20: Cost Initiatives / Benefits
Cost Initiatives / Benefits millions 1Q12 2Q12 3Q12 4Q12 FY 2012 Costs NA Wiring 0.0 0.0 (0.7) (0.4) (1.1) NA / European Electronics 0.0 0.0 (0.3) 0.0 (0.3) PST (0.3) (1.3) 0.0 0.0 (1.6) TOTAL Costs (0.3) (1.3) (1.0) (0.4) (3.0) Benefits NA Wiring 0.0 0.0 0.7 1.1 1.8 NA / European Electronics 0.0 0.
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