Gentherm Inc · NASDAQ:THRM
Gentherm — Q2 2022 Earnings Presentation
13 slides from Gentherm's earnings presentation, Aug 2, 2022
Slide 1: 2022 Second Quarter Results
2022 Second Quarter Results Gentherm, Inc. August 2, 2022 Exhibit 99.2
Slide 2: Forward-Looking Statement
Forward-Looking Statement Except for historical information contained herein, statements in this presentation are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Genthe
Slide 3: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures* In addition to the results reported herein in accordance with GAAP, the Company has provided here or elsewhere Adjusted Operating Expense, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EPS, Free Cash Flow, Net Debt and Revenue excluding the impact of foreign c
Slide 4: Automotive Highlights
Automotive Highlights Outperformed Automotive production despite significant industry headwind Closed Alfmeier Acquisition 29 Vehicle launches with 15 OEMs in 2Q Multiple CCS® product launches Alfa Romeo Tonale BMW X5 Ford Ranger & Everest Mazda CX-50 Range Rover Sport Launched industry first propri
Slide 5: New Automotive Business Awards
New Automotive Business Awards Strong debut as the largest global supplier of thermal and pneumatic comfort for Automotive $600M in awards in 2Q including Alfmeier Follow-on Production Vehicle Award for ClimateSenseTM Multiple CCS® awards Great Wall Honda Kia Nissan Stellantis Xpeng 17 Steering Whee
Slide 6: Medical Highlights
Medical Highlights Expanding access to large and rapidly growing markets Completed the acquisition of Dacheng Medical Revenue up 9 percent year over year, excluding the impact of foreign currency translation Delivered Warm Air and Filtered Flo systems to United Nations Development Programme Won larg
Slide 7: Selected Income Statement Data
Selected Income Statement Data 2022 2021 2022 2021 Product Revenues $260,715 $266,005 $528,372 $554,540 Automotive 249,152 255,105 507,016 534,475 Medical 11,563 10,900 21,356 20,065 Gross Margin 59,377 79,213 123,490 166,882 Gross Margin % 22.8% 29.8% 23.4% 30.1% Operating Expenses 51,642 47,541 10
Slide 8: Selected Balance Sheet Data
Selected Balance Sheet Data June 30, 2022 December 31, 2021 Cash and Cash Equivalents $157,258 $190,606 Total Assets 947,046 935,343 Debt 37,500 38,750 Current 2,500 2,500 Non-Current 35,000 36,250 Revolving LOC Availability 357,017 440,000 Total Liquidity 514,275 630,606 (Dollars in thousands)
Slide 9: Updates 2022 Guidance
Product Revenue (1)(2)(4) $1.15B - $1.25B Adjusted EBITDA Margin(1)(3)(4) 10% - 12% Effective Tax Rate 29% - 31% Capital Expenditures(5) $50M - $60M Updates 2022 Guidance* * Includes the completed acquisition of Alfmeier as of August 1, 2022, and the completed acquisition of Dacheng Medical as of Ju
Slide 10: Appendix
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Slide 11: Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin
Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin 2022 2021 2022 2021 Net Income $7,072 $24,791 $18,819 $57,700 Add Back: Depreciation and Amortization 8,998 9,628 18,485 19,323 Income Tax Expense 3,919 5,748 8,214 13,313 Interest Expense 1,430 630 1,999 1,669 Adjustments: Restructuring E
Slide 12: Reconciliation of Adjusted EPS
Reconciliation of Adjusted EPS 2022 2021 2022 2021 Diluted EPS - As Reported $0.21 $0.74 $0.56 $1.72 Non-Cash Purchase Accounting Impact 0.05 0.06 0.11 0.12 Restructuring Expenses 0.01 0.06 0.02 0.09 Unrealized Currency Gain (0.12) — (0.19) (0.01) Acquisition Expenses 0.11 0.03 0.21 0.03 Other — — (
Slide 13: Gentherm - Technology to the next degree
(()))) GENTHERM Technology to the next degree™