Slide 1: Fourth Quarter and Full Year 2024 Earnings Presentation
Fourth Quarter and Full Year 2024 Earnings Presentation February 27, 2025
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas’ business, financial condition or future results, invol
Slide 3: Q4 2024 Highlights
Q4 2024 Highlights Positive Trends Emerging Packaging: Strong organic growth of nearly 10%, while continuing to improve efficiency related to the high demand rates for certain dispenser product lines as customer orders rebounded from prior year levels – Positioned well for 2025 Aerospace: Record sal
Slide 4: 2025 and Forward Planning Updates
2025 and Forward Planning Updates GMT Aerospace Acquisition Airbus Commercial Deal Summary Germany-based developer and manufacturer of tie-rods and anti- Secured a new, multi-year global contract with Airbus Group, with an vibration systems for fixed and rotary aircraft anticipated ramp-up in ea
Slide 5: Q4 2024 Consolidated Results
Q4 2024 Consolidated Results Adjusted for Special Items Q4 2024 Q4 2023 Change Total Net Sales $228.1 $209.6 $18.5 TriMas Packaging $123.1 $113.6 $9.6 Organic sales growth in TriMas’ Packaging and Aerospace groups of 9.9% and TriMas Aerospace $78.3 $64.0 $14.3 22.4%, respectively, offset the sales
Slide 6: Full Year 2024 Consolidated Results
Full Year 2024 Consolidated Results Adjusted for Special Items FY 2024 FY 2023 Net Sales $925.0 $893.6 Operating Profit $82.8 $89.5 FY 2023 to FY 2024 Bridge Sales Adj. EPS(1)* Operating Profit Margin 9.0% 10.0% FY 2023 $893.6 $1.92 Net Income $67.7 $79.9 TriMas Packaging & TriMas Aerospace $101.6 $
Slide 7: Q4 2024 Segment Overview: TriMas Packaging Group
Q4 2024 Segment Overview: TriMas Packaging Group 55% Adjusted for Special Items Q4 2024 Q4 2023 FY 2024 Net Sales $123.1 $113.6 $512.3 Operating Profit $15.7 $16.2 $71.2 Operating Margin 12.8% 14.3% 13.9% Adjusted EBITDA(1) $25.0 $25.4 $105.6 Adjusted EBITDA Margin 20.3% 22.4% 20.6% Quarterly Takeaw
Slide 8: Q4 2024 Segment Overview: TriMas Aerospace Group
Q4 2024 Segment Overview: TriMas Aerospace Group 32% Adjusted for Special Items Q4 2024 Q4 2023 FY 2024 Net Sales $78.3 $64.0 $294.2 Operating Profit $10.9 $6.1 $37.2 Operating Margin 14.0% 9.5% 12.6% Adjusted EBITDA(1) $15.4 $10.8 $55.3 Adjusted EBITDA Margin 19.7% 16.9% 18.8% Quarterly Takeaways F
Slide 9: Q4 2024 Segment Overview: Specialty Products
Q4 2024 Segment Overview: Specialty Products Norris Only Adjusted for Special Items Q4 2024 Q4 2023 FY 2024 FY 2024 Net Sales $26.6 $32.0 $118.5 $99.3 Operating Profit $0.8 $4.0 $6.4 $3.8 Operating Margin 2.9% 12.6% 5.4% 3.9% (1) Adjusted EBITDA $1.7 $5.1 $10.4 $7.2 Adjusted EBITDA Margin 6.5% 15.8%
Slide 10: Sales and EPS Outlook
Sales and EPS Outlook FY 2025 Outlook ADJUSTED EPS(2) SALES GROWTH(1) $1.70 to $1.85 4% to 6% Up ~7% at midpoint YoY on comparable basis Expect low double-digit sales growth within the Aerospace segment and Enterprise-wide Assumptions GDP+ sales growth within the Packaging segment Anticipate pro
Slide 11: TriMas Q&A
TriMas Q&A Strong Brand Names Diverse End Markets Innovative Product Solutions Packaging Aerospace Our Vision To provide innovative products of exceptional performance and value through market-leading brands. GMT AEROSPACE 11
Slide 12: Appendix
— Appendix
Slide 13: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet December 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 23,070 $ 34,890 Receivables, net 164,820 148,030 Inventories 209,190 192,450 Prepaid expenses and other current assets 29,560 22,010 Total current assets 426,640 397,380 Proper
Slide 14: Consolidated Statement of Income
Consolidated Statement of Income Three months ended Twelve months ended December 31, December 31, 2024 2023 2024 2023 Net sales $ 228,050 $ 209,560 $ 925,010 $ 893,550 Cost of sales (187,010) (166,390) (725,550) (692,230) Gross profit 41,040 43,170 199,460 201,320 Selling, general and administrative
Slide 15: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Twelve months ended December 31, 2024 2023 Cash Flows from Operating Activities: Net income $ 24,250 $ 40,360 Adjustments to reconcile net income to net cash provided by operating activities, net of acquisition impact: Impairment of indefinite-lived intangible as
Slide 16: Company and Segment Financial Information
Company and Segment Financial Information YOY Growth % Organic Acquisitions Fx Total Three months ended Twelve months ended Q4 2024 vs. Q4 2023 December 31, December 31, 2024 2023 2024 2023 Consolidated TriMas 9.6% 0.0% -0.8% 8.8% Packaging Packaging 9.9% 0.0% -1.5% 8.4% Net sales $ 123,130 $ 113,56
Slide 17: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended Twelve months ended December 31, December 31, 2024 2023 2024 2023 Net income, as reported $ 5,640 $ 7,940 $ 24,250 $ 40,360 Special Items to consider in evaluating quality of net income: Impairment of indefinite-lived intangible assets 2
Slide 18: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended December 31, 2024 2023 As reported Special Items As adjusted As reported Special Items As adjusted Net cash provided by operating activities $ 27,080 $ 4,650 $ 31,730 $ 30,590 $ 3,370 $ 33,960 Less: Capital expenditures (14,980) - (14,98
Slide 19: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended Twelve months ended December 31, December 31, 2024 2023 2024 2023 Net income, as reported $ 5,640 $ 7,940 $ 24,250 $ 40,360 Depreciation expense 18,180 9,580 48,120 39,410 Amortization expense 4,160 4,370 16,800 18,180 Interest expense 4
Slide 20: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures As of February 27, 2025 Full Year 2025 GAAP to Non-GAAP EPS Outlook Reconciliation Twelve months ended December 31, 2025 Low High Diluted earnings per share (GAAP) $ 1.23 $ 1.38 Pre-tax amortization of acquisition-related intangible assets(1) 0.44 0.44 Inc