Dauch Corporation · NYSE:DCH
Dauch — Q3 2025 Earnings Presentation
23 slides from Dauch's earnings presentation, Nov 7, 2025
Slide 1: Third Quarter 2025 Earnings Call
Third Quarter 2025 Earnings Call
Slide 2: Forward-Looking Statements
Forward-Looking Statements In this presentation, American Axle & Manufacturing Holdings, Inc. (“AAM”) makes statements concerning its and Dowlais’ expectations, beliefs, plans, objectives, goals, strategies, and future events or performance, including, but not limited to, certain statements related
Slide 3: 3Q 2025 AAM Financial Highlights
3Q 2025 AAM Financial Highlights $1.51B $194.7M $98.1M Quarterly Quarterly Adjusted Free Net Sales Adjusted EBITDA Cash Flow (12.9% of Sales) AAM Delivered Year-Over-Year Adjusted EBITDA Margin Growth * For definitions of Adjusted EBITDA, Adjusted Free Cash Flow and non-GAAP reconciliations, please
Slide 4: Business Update
Business Update Transaction Update Business Wins • Both AAM and DWL Stockholders approved Awarded multiple new, replacement the combination in July and extension programs. These awards • AAM completed permanent financing for the are for both driveline and metal forming transaction in October product
Slide 5: 2025 Financial Outlook
2025 Financial Outlook (as of November 7, 2025) Updated 2025 Financial Targets Full Year Sales $5.8 - $5.9 billion Adjusted EBITDA $710 - $745 million Adjusted Free Cash Flow $180 - $210 million These targets are based on the following assumptions for 2025: • North American light vehicle production
Slide 6: 3Q Financial Results
3Q Financial Results Three Months Ended September 30, 2025 2024 (dollars in millions, except per share data) Difference Net sales $ 1,505.3 $ 1,504.9 $ 0.4 Gross profit $ 189.0 $ 171.3 $ 17.7 Gross margin 12.6% 11.4% 1.2% Selling, general and administrative expenses $ 98.8 $ 94.6 $ 4.2 SG&A as a % o
Slide 7: 3Q 2025 Revenue Walk (Yr/Yr)
3Q 2025 Revenue Walk (Yr/Yr) $ in millions Note: Chart not to scale. 7
Slide 8: 3Q 2025 Adjusted EBITDA Walk (Yr/Yr)
3Q 2025 Adjusted EBITDA Walk (Yr/Yr) $ in millions Note: For definition of Adjusted EBITDA and Non-GAAP reconciliation, please see the attached appendix. Chart not to scale. 8
Slide 9: Adjusted Free Cash Flow and Credit Profile
Adjusted Free Cash Flow and Credit Profile Cash Flow and Debt Metrics 3Q 2025 Adjusted Free Cash Flow $98.1 million Net Debt $1.9 billion Net Leverage Ratio 2.6x Liquidity ~$1.7 billion AAM Maintains Strong Liquidity Note: For definitions of Adjusted Free Cash Flow, Net Debt, Net Leverage Ratio, and
Slide 10: Appendix / Supplemental Data
Appendix / Supplemental Data
Slide 11: Additional Disclosures
Additional Disclosures Non-GAAP Financial Information This presentation refers to certain financial measures, including Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Earnings per Share, Adjusted Free Cash Flow, Net Debt, Net Leverage Ratio and Liquidity that are not required by, or presented in
Slide 12: Additional Disclosures
Additional Disclosures Profit forecasts and estimates The statements in this presentation setting out targets for Adjusted EBITDA and Adjusted free cash flow of AAM for FY25 (together, the “AAM FY25 Updated Profit Forecast”) constitute profit forecasts of AAM for the purposes of Rule 28.1(a) of the
Slide 13: Additional Disclosures
Additional Disclosures Principal assumptions a) Factors outside the influence or control of the AAM Directors: i. there will be no material change to macroeconomic, political, inflationary, regulatory or legal conditions in the markets or regions in which AAM operates; ii. there will be no material
Slide 14: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures In addition to the results reported in accordance with accounting principles generally accepted in the United States of America (GAAP) included within this presentation, we have provided certain information, which includes non-GAAP financial measures. Such informa
Slide 15: Supplemental Data
Supplemental Data* EBITDA and Adjusted EBITDA Reconciliation ($ in millions) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Net income $ 9.2 $ 10.0 $ 55.6 $ 48.7 Interest expense 42.7 45.2 128.7 142.1 Income tax expense (benefit) (10.9) (12.1) 31.2 21.0 Deprecia
Slide 16: Supplemental Data
Supplemental Data* EBITDA and Adjusted EBITDA for the Last Twelve Months Ended September 30, 2025 ($ in millions) Last Twelve Quarter Ended Months Ended December 31, March 31, June 30, September 30, September 30, 2024 2025 2025 2025 2025 Net income (loss) $ (13.7) $ 7.1 $ 39.3 $ 9.2 $ 41.9 Interest
Slide 17: Supplemental Data
Supplemental Data* Adjusted Earnings Per Share Reconciliation Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Diluted earnings per share $ 0.07 $ 0.08 $ 0.45 $ 0.40 Restructuring and acquisition-related costs 0.18 0.02 0.47 0.08 Debt refinancing and redemption co
Slide 18: Supplemental Data
Supplemental Data* Free Cash Flow and Adjusted Free Cash Flow Reconciliation ($ in millions) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Net cash provided by operating activities $ 143.3 $ 143.6 $ 291.1 $ 304.2 Less: Capital expenditures net of proceeds from
Slide 19: Supplemental Data
Supplemental Data* Net Debt and Net Leverage Ratio ($ in millions) September 30, 2025 Current portion of long term debt $ 22.3 Long-term debt, net 2,594.0 Total debt, net 2,616.3 Less: Cash and cash equivalents 714.1 Net debt at end of period 1,902.2 Adjusted LTM EBITDA $ 735.0 Net Leverage Ratio 2.
Slide 20: Supplemental Data
Supplemental Data* Segment Financial Information ($ in millions) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Segment Sales Driveline $ 1,051.1 $ 1,042.8 $ 3,091.0 $ 3,273.7 Metal Forming 595.0 596.5 1,769.2 1,893.7 Total Sales 1,646.1 1,639.3 4,860.2 5,167.4
Slide 21: Supplemental Data
Supplemental Data* Full Year 2025 Financial Outlook ($ in millions) Adjusted EBITDA Adjusted Free Cash Flow Low End High End Low End High End Net income $ - $ 10 Net cash provided by operating activities $ 395 $ 425 Interest expense 205 205 Income tax expense - 25 Capital expenditures net of proceed
Slide 22: Definition of Non-GAAP Measures
Definition of Non-GAAP Measures EBITDA and Adjusted EBITDA We define EBITDA to be earnings before interest expense, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA excluding the impact of restructuring and acquisition-related costs, debt refinancing and redemption c
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