O-i Glass, Inc. · NYSE:OI
O-i Glass — Owens Illinois — Q1 2012 Earnings Presentation
12 slides from O-i Glass's earnings presentation, Apr 25, 2012
Slide 1: O-I Earnings Presentation First Quarter 2012
O-I earnings presentation First Quarter 2012
Slide 2: Introduction, Regulation G and Forward Looking Statements
1 Introduction Agenda Business discussion Financial review Business outlook Concluding remarks and Q&A Presenters Regulation G The information included in this presentation regarding adjusted net earnings relates to net earnings attributable to the Company exclusive of items management considers not
Slide 3: First Quarter 2012 Results: Business Discussion
2 First Quarter 2012 results Business discussion 1Q12 Adjusted EPS was $0.73/sh, $0.53/sh in 1Q11 Strong operating performance and non-recurrence of significant flooding in Australia last year Shipments down ~2% YoY (flat excl. China) Shipments flat to slightly up in EU, NA and SA Price and product
Slide 4: Improved Results in Most Regions
3 Improved Results in Most Regions Business discussion ($ Millions) First Quarter Segment Operating Profit Total Segment Operating Profit 1Q12 $260M 1Q11 $208M
Slide 5: Strong Operating Performance Boosts Profit
4 Strong Operating Performance Boosts Profit Financial review 1 Reportable segment sales in 1Q12 exclude $18 million of revenue, principally for the Company’s global equipment sales business. 2 Contractual cost-pass through provision primarily relates to N. America energy costs. 3 Primarily relates
Slide 6: Balance Sheet, Cash Flow and Capital Structure
5 Balance sheet, cash flow and capital structure Financial review Highlight of select balance sheet and cash flow items (1) ($M) 1 All information presented is from continuing operations only. 2 Total debt less cash divided by bank credit agreement EBITDA. See appendix for EBITDA reconciliations. Cu
Slide 7: Business Outlook
Business Outlook Favorable / Unfavorable Impact on Earnings 2Q12 vs 2Q11 Comments Operating Profit Europe Sales volume down low single-digits Expected benefit from higher prices offsetting inflation North America Sales volume up low single-digits Non-recurrence of PY supply chain issues Asia Pacific
Slide 8: Concluding Remarks and Q&A
7 Concluding remarks and Q&A Good start for 2012 Strong operational performance Benefit from higher prices offsetting cost inflation to repair margins Remain flexible to match capacity with demand Primarily in Europe where demand uncertainty is greatest Underlying free cash flow not likely to be bel
Slide 9: Appendix
Appendix
Slide 10: Reconciliation of GAAP to Non-GAAP Items
9 Reconciliation of GAAP to non-GAAP items Three months ended March 31 $ Millions, except per-share amounts 2012 2011 Earnings EPS Earnings EPS Earnings from Continuing Operations $122 $0.73 $83 $0.50 Attributable to the Company Items that management considers not representative of ongoing operation
Slide 11: Free Cash Flow
10 Free cash flow (1) Free cash flow is cash provided by continuing operating activities less capital spending. Underlying free cash flow is defined as cash provided by continuing operating activities less capital spending plus the addback of capital spending in China for replacement capacity lost d
Slide 12: Reconciliation of Credit Agreement EBITDA to Net Earnings
Reconciliation of credit agreement EBITDA to net earnings attributable from continuing operations 11 (1) Based on historical EBITDA of acquired entities and for those periods not already included in net income from continuing operations. $ Millions 2012 2011 Earnings from continuing operations (442)