Slide 1: Second Quarter 2014 Earnings Release Presentation
1 Stoneridge, Inc . Second Quarter 2014 Earnings Release Presentation August 11, 2014 Exhibit 99.2
Slide 2: Forward Looking Statements
Statements in this presentation that are not historical facts (including, but not limited to, 2014 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 by Segment – 2Q14 vs 2Q13
Sales by Segment – 2Q14 vs 2Q13 CD ELEC PST SRI CD ELEC PST SRI Pass Car / Light Truck 59.3 0.9 0.0 60.2 56.6 0.9 0.0 57.5 Med / HD Truck 11.3 49.7 0.0 61.1 11.1 46.3 0.0 57.4 Ag 2.8 0.0 0.0 2.8 2.3 0.0 0.0 2.3 PST / Other 3.0 2.1 32.9 38.1 4.4 1.5 46.7 52.6 TOTAL 76.4 52.8 32.9 162.1 74.4 48.7 46.7
Slide 5: Sales, Gross Profit, & Op Income – 2Q14 vs 2Q13
Sales, Gross Profit, & Op Income – 2Q14 vs 2Q13 EPS from Continuing Operations is $0.06 / share excluding the impact of the Goodwill write off which is $0.85 / share SRI excl PST PST PST PPA SRI SRI SRI 2Q14 2Q13 USD [millions] except per share data Actual Actual ∆ # ∆ % Net Sales 129.2 32.9 - 162.1
Slide 6: 2Q14 Sales by Business Unit
2Q14 Sales Control Devices $76.4 Electronics $52.8 PST $32.9 PST (Brazil ): Est 2012: $185 - $197 million Revenue by Business Unit Consolidated Sales : $162.1 million 2012 Guidance Core Sales (excl PST) $755 – $765 million 47.1% 20.3% 32.6% Automotive Aftermarket Commercial Vehicle
Slide 7: 2Q14 Sales by Geographic Location
2Q14 Sales North America 49.2% Europe / Other 30.5% South America 20.3% Revenue by Geographic Location
Slide 8: Consolidated 2Q13 vs 2Q14 EPS Bridge
8 PST CD, Elec , & Wiring Volume (0.13) 0.15 Mix / Direct Material (0.06) 0.00 SGA / DD (Increase) / Decrease 0.07 (0.09) Business Realignment (0.01) 0.00 CD / Elec Overhead 0.00 (0.04) PST FX (0.03) 0.00 PST Goodwill (0.85) 0.00 Interest (0.01) 0.00 TOTAL (1.02) 0.02 (0.79) (1.00) (0.01) (0.85) (0.
Slide 9: Sales by Segment – 2Q14 vs 1Q14
Sales by Segment – 2Q14 vs 1Q14 CD ELEC PST SRI CD ELEC PST SRI Pass Car / Light Truck 59.3 0.9 0.0 60.2 61.7 0.9 0.0 62.6 Med / HD Truck 11.3 49.7 0.0 61.1 7.1 47.9 0.0 55.0 Ag 2.8 0.0 0.0 2.8 4.7 0.0 0.0 4.7 PST / Other 3.0 2.1 32.9 38.1 3.8 1.3 33.9 39.0 TOTAL 76.4 52.8 32.9 162.1 77.3 50.1 33.9
Slide 10: Consolidated 1Q14 vs 2Q14 EPS Bridge
10 PST CD, Elec , & Wiring Volume (0.01) 0.03 Mix / Direct Material (0.01) 0.00 SGA Decrease 0.00 0.02 PST FX 0.02 0.00 PST Goodwill (0.85) 0.00 PST Realignment (0.01) 0.00 TOTAL (0.86) 0.05 (0.79) (0.81) (0.01) (0.85) 0.02 0.02 (0.01) 0.02 0.02 2Q14 Actual EPS TOTAL PST Realignment PST Goodwill PST
Slide 11: PST Purchase Price Accounting Expense [Non Cash]
PST Purchase Price Accounting Expense [Non Cash] (millions) 1Q 2Q 3Q 4Q Full Year 2013 1Q14 2Q14 COGS / DM Inventory Write Up $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 COGS / Depreciation – Fixed Asset Write Up $0.3 $0.3 $0.3 $0.3 $1.2 $0.3 $0.3 SGA / Amortized Intangibles $1.6 $1.5 $1.0 $1.0 $5.1 $1.2 $1.
Slide 12: Cash Flow
USD [millions] 2012 1Q13 2Q13 3Q13 4Q13 2013 1Q14 2Q14 Actual Actual Actual Actual Actual Actual Actual Actual Beginning Cash 78.7 44.6 46.7 37.0 46.1 44.6 62.8 48.4 Consolidated Net Income 3.7 4.3 6.4 5.5 0.3 16.5 0.5 (29.1) Depreciation / Amortization 35.3 9.2 8.8 8.5 8.8 35.2 8.2 7.2 Working Capi
Slide 13: Debt / Net Debt
Debt / Net Debt (millions USD) 2011 2012 1Q13 2Q13 3Q13 2013 1Q14 2Q14 Total Debt $267.1 $201.4 $211.2 $199.3 $196.7 $197.2 $205.6 $205.1 Net Debt $188.4 $156.8 $164.4 $162.3 $150.6 $134.4 $157.2 $159.3 Total Debt / LTM Adj.EBITDA 3.5 x 1 2.9 x 3.2 x 2.7 x 2.6 x 2.7 x 2.9 x 3.3 x ABL Balance $38.0 $
Slide 14: PST Performance and Outlook: Market Changes & Cost Initiative Responses
Summary Cost Initiatives being Implemented Cost 2014 Benefits * 2015 Benefits * R$ USD$ R$ USD$ R$ USD$ 2014 Actions April – Reduction of 164 Hourly Employees and other SG&A reduction 0.9 0.4 10.8 4.6 16.2 7.0 July – Reduction 140 Salary / Staff Position 2.1 0.9 3.3 1.4 9.0 3.9 Gross Costs / Benefit
Slide 15: 2014 Guidance
2014 Guidance * Includes PST $3.3 million of Non - Cash expense related to the purchase of PST Excludes any Gain or Loss associated with the Sale of the Wiring Business or any potential Refinancing Transaction Assumes USD to BRL rate of 2.40 Sales: $680 - $720 million Gross Margin: 29.0% - 31.0% Op
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