Dover Corporation · NYSE:DOV
Dover — William Blair Growth Stock Conference 2014
15 slides from Dover's conference presentation, Jun 11, 2014
Slide 1: William Blair Growth Stock Conference
Exhibit 99.1 June 11, 2014 William Blair Growth Stock Conference Bob Livingston
Slide 2: Forward looking statements
2 Forward looking statements We want to remind everyone that our comments may contain forward-looking statements that are inherently subject to uncertainties and risks. We caution everyone to be guided in their analysis of Dover Corporation by referring to the documents we file from time to time wit
Slide 3: Strategy
Strategy Our track record of success is based on: – Core technological advantages – Leading brands in the markets we serve – Commitment to industry leadership through innovation and scale – Strong focus on the customer Our deep understanding of the customer and our exceptional capabilities in provid
Slide 4: Recent activities support our underlying strategy & strengths
4 Recent activities support our underlying strategy & strengths Recent Activities Underlying Strengths New segment structure to capture Customer intimacy growth opportunities – Innovate for the customer Recurring theme of delivering Building our industrial businesses efficiency and sustainability –
Slide 5: Dover has several levers for value creation
5 Dover has several levers for value creation Mid-term targets GROWTH Substantial growth 3% - 5% organically, opportunities complemented by acquisition growth Accelerated MARGIN productivity initiatives Expand segment margin to 19% Significant balance CASH FLOW sheet optionality Generate free cash f
Slide 6: Our track record of success
Our track record of success Revenue Revenue & EBIT EBIT EPS Adj. EPS & Dividends Paid Dividends $8,000 $1,300 $4.50 $1.60 $6,000 $975 $3.00 $1.40 $4,000 $650 $1.50 $1.20 $2,000 $325 $0 $0 $0.00 $1.00 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 Revenue EBIT Adj. EPS Dividend per share Note: Rev
Slide 7: Dover segments at a glance
Dover segments at a glance Energy is a leading provider of customer Engineered Systems is focused on the design, driven solutions and services for safe and manufacture and service of critical equipment efficient production and processing of oil & gas and components serving the printing & worldwide,
Slide 8: Growth opportunities: A look forward - Energy
8 Growth opportunities: A look forward Energy Grow core business – Leverage plunger and gas lift technologies into international markets Revenue & margin $ in millions – Strengthen our position in faster $2,000 30% growing basins $1,800 25% – Increase OEM share in bearings and $1,600 compression 20%
Slide 9: Growth opportunities: A look forward - Engineered Systems
9 Growth opportunities: A look forward Engineered Systems Expand and extend markets served in Printing & Identification Revenue & margin – Capitalize in fast growing textile market $ in millions – Grow North American and China presence $2,800 18% in core markets $2,400 14% Make focused industrial in
Slide 10: Growth opportunities: A look forward - Fluids
10 Growth opportunities: A look forward Fluids Leverage our global footprint to accelerate growth – Grow presence in Middle East and China Revenue & Margin $ in millions through Maag and Finder channels $1,600 22% – Expand in Australia through Ebsray’s LPG and chemical pump technologies $1,200 18% 1
Slide 11: Growth opportunities: A look forward - Refrigeration & Food Equipment
11 Growth opportunities: A look forward Refrigeration & Food Equipment Develop broader customer base – Build share with targeted accounts Revenue & Margin $ in millions Capitalize on secular trends $2,000 18% – Rising energy costs and increasing $1,500 12% government regulation are driving strong de
Slide 12: Margin enhancement through productivity
12 Margin enhancement through productivity Global supply chain – Program now in its 5th year – Continuing to leverage the scale of Dover Many spend categories are being reviewed again Shared manufacturing – Several consolidation projects are near completion Hill Phoenix will consolidate 4 sites in A
Slide 13: Capital allocation 2014
13 Capital allocation 2014 Strong balance sheet – $486 million cash as of March 31, 2014 (primarily overseas) – $170 million in proceeds from DEK sale (expected mid-year) – Strong FY free cash flow expected ( 11% of revenue) We expect to raise the dividend for 59th consecutive year Capex expected to
Slide 14: Market commentary
14 Market commentary Activity is solid across all segments – Energy, Engineered Systems and Fluids all performing well Well count and rig count showing modest improvement Product Identification, waste handling and auto service markets remain solid Plastics & petro-chemical, and Oil & gas markets dri
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