Cooper-standard Holdings Inc. · NYSE:CPS
Cooper-standard — Q1 2013 Earnings Presentation
19 slides from Cooper-standard's earnings presentation, May 10, 2013
Slide 1: Cooper Standard First Quarter Earnings Call
Cooper Standard First Quarter Earnings Call May 10, 2013 Exhibit 99.1
Slide 2: Safe Harbor
Safe Harbor There may be other factors that may cause our actual results to differ materially from the forward-looking statements. All forward-looking statements attributable to us or persons acting on our behalf apply only as of the date of this presentation and are expressly qualified in their ent
Slide 3: Executive Overview, First Quarter 2013
Jeff Edwards Chairman and Chief Executive Officer Executive Overview First Quarter 2013
Slide 4: Executive Overview
Executive Overview • Q1 Highlights – Completed 120 day plan – Launched profitable growth strategy – Formed Global Leadership Team – Strengthening centers of excellence – Stabilized European performance – Confirmed European restructuring / timing
Slide 5: Company Orientation
Company Orientation Day 0-45 Listen & Learn Define the Vision / Path Forward Unwavering Execution • Global tour to listen and learn • Celebrate success and discover opportunities • Get to know the team • Learn technologies, manufacturing processes and what customers value • Understand pipeline of in
Slide 6: Vision
VISION ZtIVe r — i * Top 30 automotive suppliersfor sales, JN GooperStandard Top 5% ROIC . PASSION FOR PERFORMANCE
Slide 7: Platforms for Growth
Platforms for Growth North America Leader #2 Supplier Globally Fluid Transfer Systems Sealing and Trim Systems Fuel and Brake Systems Overall Market: $8B/$12B Overall Market: $7 B Overall Market: $18B #1 Supplier Globally
Slide 8: Global Leadership Team
Global Leadership Team President North America President Europe President Asia Pacific Chief Financial Officer VP Human Resources VP General Counsel Chief Operations Officer • Global Continuous Improvement, Op Excellence, Best Business Practices • Global Purchasing • Global Advanced Innovation, New
Slide 9: Financial Overview, First Quarter 2013
Financial Overview First Quarter 2013 Allen Campbell Chief Financial Officer
Slide 10: Revenue by Region Performance
Revenue by region Performance Q1 2013 Performance $ USD Millions Q1 2012 Revenue: $765.3 Q1 2013 Revenue: $747.6 Note: Numbers subject to rounding Q1 2012 Q1 2013 Sales 765.3 747.6 Gross Profit 121.7 120.3 SGA 72.0 75.1 Operating Profit 39.7 36.6 Net Income 23.8 20.7 Fully Diluted EPS $0.90 $0.86 Ad
Slide 11: EBITDA and Adjusted EBITDA Reconciliation
EBITDA and Adjusted EBITDA Reconciliation $ USD Millions Net income Provision for income tax expense EBITDA Restructuring Adjusted EBITDA Three Months Ended March 31, Net interest expense Depreciation and amortization EBITDA and Adjusted EBITDA are Non-GAAP measures. See appendix. $ 23.8 8.1 7.9 11.
Slide 12: Key Financial Ratios
Key Financial Ratios Q1 2013 Cash Flow and Key Financial Ratios Note: Numbers subject to rounding • Net leverage: $269.0 M • Net leverage ratio: 0.9 • Interest coverage ratio: 6.5 x • No major debt maturity until 2018 Cash Balance as of December 31, 2012 $ 270.6 Cash used (53.8) Cash Balance as of M
Slide 13: 2013 Guidance
2013 Guidance • Sales growth: 4% over 2012 • Capital expenditures: $160 million - $170 million • Cash restructuring: $30 million - $40 million • Cash taxes: $25 million - $35 million Guidance assumptions: • North American production : 15.9 million • Europe (including Russia) production : 18.7 millio
Slide 14: Self-Tender Offer
Self-Tender Offer • Accept for Tender/Payment - 4,651,162 shares at the purchase price of $43.00 - Cash payment of $200 million - Proration factor of 77.0 % • Common Shares outstanding April 30, 2013 17,801,844 Tendered (4,651,162) April 30, 2013 - adjusted 13,150,682 • The Company utilized approxim
Slide 15: Cooper Standard: Passion for Performance
G CooperStandard PASSION FOR PERFORMANCE
Slide 16: Summary
Summary • Ensure all 22,000 employees are aligned with strategy • Strengthening our teams, capabilities and engagement • Strong community partner – Launched Cooper Standard Foundation • Continue to adjust footprint and expand globally while exceeding customer expectations every day
Slide 17: Cooper Standard: Passion for Performance
G CooperStandard PASSION FOR PERFORMANCE
Slide 18: Net Leverage Ratio and Adj. EBITDA % Margin
Net Leverage Ratio and Adj. EBITDA % Margin as of March 31, 2013 (1) Includes noncash restructuring. (2) Proportionate share of restructuring costs related to Cooper Standard France joint venture. (3) Non-cash stock amortization expense and non-cash stock option expense for grants issued at emergenc
Slide 19: Non-GAAP Financial Measures
Non-GAAP Financial Measures EBITDA and adjusted EBITDA are measures not recognized under Generally Accepted Accounting Principles (GAAP) which exclude certain non-cash and non- recurring items. When analyzing the company’s operating performance, investors should use EBITDA and adjusted EBITDA in add
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