Myers Industries, Inc. · NYSE:MYE
Myers Industries — Investor Presentation (May 2011)
30 slides from Myers Industries's investor presentation, May 2011
Slide 1: Strong Foundation for Growth.
• Bottom-drain design encourages more • Stronger containers mean better effective irrigation, a healthier root • Consistent, smooth finish free of excess condition of plants at retail structure and a more attractive, trim material and ready to use saleable plant Product Description Dimensions (inche
Slide 2: Forward Looking Statements Disclosure
Forward Looking Statements Disclosure Statements in this presentation concerning the Company’s goals, strategies, and expectations for business and financial results may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on curren
Slide 3: Overview: Diversified Manufacturer of plastic & rubber products; Distributor of tire service products
Overview: Diversified Manufacturer of plastic & rubber products; Distributor of tire service products ! Industry-leading brands & strong market positions ! Diverse customer base & multiple growth platforms ! Broad manufacturing & distribution capabilities ! Strategy focused on value creation for ALL
Slide 4: Industry-Leading Brands; Strong Positions in Our Markets
Industry-Leading Brands; Strong Positions in Our Markets. . . Segment Major Brands Product Line Overview Key Markets • Agriculture Material • Seed Handling • Food Processing • Food Distribution • Industrial / Manufacturing Providing cost-saving material handling solutions • Beverage Distribution wit
Slide 5: Industry-Leading Brands; Strong Positions in Our Markets
Industry-Leading Brands; Strong Positions in Our Markets. . . Segment Major Brands Product Line Overview Key Markets • Recreational Vehicle (RV) Engineered • Marine / Personal Watercraft Products • Tire Repair & Retreading • Automotive • Custom Industrial Serving niche markets with custom plastic an
Slide 6: How Does Myers Industries Create Value for You?
How Does Myers Industries Create Value for You? Executing our Five Strategic Principles in our businesses, focused on… Value for Shareholders, + + + + = Customers & Employees! • Customer Dedication Understand customer needs – and deliver superior service • Innovation Create next-generation products
Slide 7: Customer Dedication
" Emphasizing a culture of customer service and satisfaction 190 6 - 2 01 " Delivering “preferred solutions” to improve the customer’s business " Growing long-standing relationships with leading companies, driving: 1 # Market Share Growth # New Market Penetration Material Handling Lawn & Garden Sinc
Slide 8: Innovation
" Investing in products for high-margin niche markets " Developing a disciplined and repeatable innovation process " Customer-driven innovation that opens new avenues for growth Material Handling Lawn & Garden Engineered Products Distribution Buckhorn “Maximizer” is a unique, cross-fold bulk contain
Slide 9: Operations Excellence
" Drive operations to “Best-in-Class” – creating competitive advantages: • Safety, Quality, Delivery & Productivity • Cost / Margin Relationship " Ensure “Continuous Improvement” is embraced throughout the company " Reinvest savings from Ops Excellence into business growth initiatives 9
Slide 10: Organization Development
" Enhance strong business teams with significant industry knowledge " Seek and retain proactive, dedicated and ethical employees " Ensure ongoing training and encourage personal responsibility Deploying the best people in our businesses to bring solutions to customers and drive our growth strategy.
Slide 11: Financial Strength
" A clear focus on key growth metrics for financial flexibility " Maintaining a solid Balance Sheet and strong Cash Flow generation " Demonstrate the earnings power of MYE $ 2010 Revenue up 5% vs 2009 Revenue ($mm) Continuing Operations $1,000.0 $ Restructuring Savings ~ $30.0M $855.7 $813.5 $737.6
Slide 12: Our Focus on Growth & Profitability for 2011-13
Executing Our Five Strategic Principles, Our Focus on Growth & Profitability for 2011-13 is: Material Handling Lawn & Garden Distribution Engineered • Drive innovation leadership • Maintain focus on 5-Point • Complete distribution Products for Buckhorn and Akro-Mils Improvement Plan: model change –
Slide 13: Summary Financial Performance – First Quarter Ended March 31, 2011
Summary Financial Performance – First Quarter Ended March 31, 2011 13
Slide 14: 2011 First Quarter – Performance Overview: Net Sales
2011 First Quarter – Performance Overview Net Sales ($ in Millions) $250.0 $200.0 $193.4 $186.4 $150.0 $100.0 $50.0 24% $0.0 34% 2010 2011 14% 30% Sales Up 4% on Increased Volume 14
Slide 15: 2011 First Quarter – Performance Overview: Net Income and EPS
2011 First Quarter – Performance Overview Net Income ($ in Millions) Earnings Per Share ($ in Dollars) 0.25 $8.0 $6.7 0.20 $0.19 $6.0 $5.5 $0.16 0.15 $4.0 0.10 $2.0 0.05 $0.0 0.00 2010 2011 !2010 2011 !2010 2011 Net Income Up 22%, EPS Up 19% on Favorable Mix and Pricing 15
Slide 16: 2011 – Momentum from 2010 with Solid First Quarter Achievements
2011 – Momentum from 2010 with Solid First Quarter Achievements 1) Third consecutive quarter, on an adjusted basis, of improved operating results 2) Gross profit increased to 26.9% compared to 24.1% in Q1 2010 – Favorable mix and pricing 3) Strong end markets in Material Handling, Engineered Product
Slide 17: 2011 – First Quarter Results by Segment, as Reported
Part I — Financial Information Myers Industries, Inc. Notes to Condensed Consolidated Financial Statements (Dollar amounts in thousands, except where otherwise indicated) (Unaudited) 2011 – First Quarter Results by Segment, as Reported ($ in Thousands) Three Months Ended March 31, Net Sales 2011 201
Slide 18: Creating An Attractive Investment Opportunity
Summary: How Does Myers Industries Create Value for You? Executing our Strategic Principles is creating long-term profitable growth opportunities. . . Value for Shareholders, + + + + = Customers & Employees! Be the preferred Create next- Improve service Attract, retain and Focus on performance solut
Slide 19: Appendix
Appendix Material Lawn & Garden Handling Engineered Distribution Products 19
Slide 20: 2010 Performance Overview: Net Sales
2010 Performance Overview Net Sales ($ in Millions) $800.0 $737.6 $701.8 $600.0 $400.0 $200.0 $0.0 2009 2010 24% Material Handling 2010 Net Sales % 34% Lawn & Garden by Business Segment 14% Distribution 30% Engineered Products 20
Slide 21: 2010 Performance Overview
2010 Performance Overview Income (Loss) – Reported ($ in Millions) Income – Adjusted ($ in Millions) $20.0 $25.0 $10.0 $7.0 $20.0 $19.5 $0.0 -$10.0 $15.0 $13.0 -$20.0 $10.0 -$30.0 $5.0 -$40.0 $(42.8) -$50.0 $0.0 2009 2010 2009 2009 2010 2010 Earnings (Loss) Per Share – Reported ($ in Dollars) Earnin
Slide 22: 2010 – Solid Results Despite Higher Material Costs, Slow Economic Recovery
2010 – Solid Results Despite Higher Material Costs, Slow Economic Recovery 1) Adjusted operating results achieved despite raw material costs nearly 40% higher versus 2009 > Raw material cost pressures led to a non-cash goodwill impairment of $72.0 mm in Lawn & Garden 2) Continued strong Cash from Op
Slide 23: Strong Cash Flow Generation
Strong Cash Flow Generation " Manage cash to increase flexibility for growth investments and Shareholder Value " Capital investments in new products and technology for sustainable, long-term profitable growth 12-Year Cash Flow Analysis ,-./0-1"23.456/07849" :/;/64569"<=>04"?@" ,-9A"B>C"D8>E"F.48-G>5
Slide 24: Strong Cash Flow Supports Consistent Returns to Shareholders
Strong Cash Flow Supports Consistent Returns to Shareholders " Dividend paid every year since public in 1971 " Returns to Shareholders*: Increased dividend for nearly 40 years $0.60 $0.50 $0.50 $0.40 $0.30 $0.26 $0.24 $0.24 $0.19 $0.20 $0.20 $0.17 $0.18 $0.18 $0.20 $0.15 $0.10 $0.00 2000 2001 2002 2
Slide 25: Condensed Statements of Income (Loss)
MYERS INDUSTRIES, INC. AND SUBSIDIARIES Condensed Statements of Statements Incomeof(Loss) Consolidated Income (Loss) Year Ended Dec. 31, 2010, 2009 and 2008 ($ in Thousands, except Per Share Data) For the Years Ended December 31, 2010, 2009 and 2008 2010 2009 2008 (Dollars in thousands, except share
Slide 26: Segment Data
MYERS INDUSTRIES, INC. AND SUBSIDIARIES. Segment Data Notes to Consolidated Financial Statements — (Continued) Amounts in thousands, except as otherwise noted Year Ended Dec. 31, 2010, 2009 and 2008 ($ in Thousands) 2010 2009 2008 Net Sales Lawn and Garden $223,809 $220,312 $272,803 Material Handlin
Slide 27: Reconciliation of Non-GAAP Financial Measures
Myers Industries Reports 2010 Fourth Quarter & Full Year Results — 02/17/11 page 6 of 6 Reconciliation of Non-GAAP Financial Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES INCOME (LOSS) BEFORE TAXES BY SEGMENT ($ in millions) Income (Loss) Before Taxes by Segment Quart
Slide 28: Condensed Statements of Consolidated Cash Flows
MYERS INDUSTRIES, INC. AND SUBSIDIARIES Condensed Statements of Consolidated Cash Flows Statements of Consolidated Cash Flows Year Ended Dec. 31, 2010, 2009 and 2008 For the Years Ended December 31, 2010, 2009 and 2008 ($ in Thousands) 2010 2009 2008 (Dollars in thousands) Cash Flows From Operating
Slide 29: Condensed Statements of Consolidated Financial Position
MYERS INDUSTRIES, INC. AND SUBSIDIARIES Statements of Consolidated Financial Position Condensed Statements of Consolidated Financial Position As of December 31, 2010 and 2009 2010 2009 As of Dec. 31, 2010 and 2009 Assets (Dollars in thousands) Current Assets ($ in Thousands, except per share data) C
Slide 30: www.myersindustries.com
Leadership Brands Helping Customers Grow! www.myersindustries.com Strong Foundation for Growth.