Commercial Vehicle Group, Inc. · NASDAQ:CVGI
Commercial Vehicle — Investor Presentation (December 2013)
16 slides from Commercial Vehicle's investor presentation, Dec 3, 2013
Slide 1: CVG Investor Presentation December 2013
CVG INVESTOR PRESENTATION December | 2013
Slide 2: Forward Looking Statement
FORWARD LOOKING STATEMENT This presentation contains forward-looking statements that are subject to risks and uncertainties. These statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or similar expressions. In particular, this press release may con
Slide 3: CVG Product Mix
CVG PRODUCT MIX SEATING WIRE HARNESSES & PANEL ASSEMBLIES TRIM CAB STRUCTURES & PANELS MIRRORS, WIPERS & CONTROLS 42% 21% 20% 10% 7% CVG — an industry leader as a global supplier to the commercial vehicle industry. Percentages shown based on 2012 Revenues COMMERCIAL VEHICLE GROUP. INC.
Slide 4: CVG Global Footprint
CVG GLOBAL FOOTPRINT OHIO R&D Corporate HQ Int | Ext Trim Stampings IOWA Wire Harness Assy UNITED KINGDOM Seat Manufacturing INDIANA Wiper Systems Motors OREGON Int | Ext Trim TENNESEE Seat Manufacturing Northampton, UK Liberec, GZ L’Viv, UKR Brandy’s, CZ CZECH REPUBLIC Seat Manufacturing Wire Harne
Slide 5: Update
UPDATE New Management Evaluated the Company and Business Reorganized the Leadership Team Identified Key Initiatives Going Forward Moving from Evaluation to Execution
Slide 6: Organizational Chart
ORGANIZATIONAL CHART PRESIDENT & CEO Rich Lavin PRESIDENT CONSTRUCTION AG & MILITARY Kevin Frailey PRESIDENT TRUCK, BUS Pat Miller PRESIDENT AFTERMARKET & STRUCTURES Timo Haatanen CHIEF FINANCIAL OFFICER Tim Trenary CHIEF HR & PUBLIC RELATIONS OFFICER Laura Macias GENERAL COUNSEL Brent Walters MANAG
Slide 7: Opportunities and Initiatives
OPPORTUNITIES AND INITIATIVES North American Truck Market Construction Equipment Growth — Globally China/India Market Growth New Product Development Design to Value — Local Market Needs Manufacturing Footprint M & A Analysis Organizational Audit — Costs and Excellence
Slide 8: Growth Opportunities
GROWTH OPPORTUNITIES CONSTRUCTION* (Build) NORTH AMERICA 74,545 80,950 88,370 2013F 2014F 2015F * Source: Millmark Q2 2013 CHINA 333,655 365,525 406,745 2013F 2014F 2015F AGRICULTURE* (Build) NORTH AMERICA 97,605 108,860 118,030 2013F 2014F 2015F * Source: Millmark Q2 2013 CHINA 589,595 626,915 669,
Slide 9: Update
UPDATE China represents an opportunity that is at least: 4X in Construction 6X in Agriculture 3+X in Truck Compared to North America CVG Commercial Vehicle Group, Inc. COMMERCIAL VEHICLE GROUP, INC.
Slide 10: Tim Trenary
FINANCIAL OVERVIEW Tim Trenary CVG AGRICULTURE CONSTRUCTION TRUCK SCHOOL BUS BUS
Slide 11: Sales / Operating Income
FINANCIAL OVERVIEW Sales / Operating Income Margin (thousands) Operating Income Margin Sales 250,000 200,000 150,000 100,000 50,000 $ 236,990 $ 242,745 Q1 Q2 $ 204,824 Q3 $ 173,357 Q4 $ 177,822 Q1 $ 198,909 Q2 $ 187,942 Q3 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% -2.0% 7.8% 7.8% 4.3% -1.3% -0.2% 1.1% -1.8% Op
Slide 12: Address the Cost Structure
FINANCIAL OVERVIEW Address the Cost Structure Manufacturing Capacity Operational Excellence SG&A Enhance Margins CVG Commercial Vehicle Group, Inc.
Slide 13: Scale / Leverage the Cost Structure
FINANCIAL OVERVIEW Scale / Leverage the Cost Structure Grow Organically / Diversify - Geography - End Markets - Customer Base - Products Operating Leverage / Diminish Cyclicality CVG
Slide 14: Deploy Capital Manufacturing
FINANCIAL OVERVIEW Deploy Capital Manufacturing Footprint Facilities and Equipment Product Innovation CVG
Slide 15: Capital Structure
FINANCIAL OVERVIEW Capital Structure Senior Notes - $250M - 7.875% - Due April 2019 ABL - $40M Commitment - Amended November 2013 - Expires Nov. 2018 Liquidity Cash - $75M (9/30/13) ABL - $35M Accordion - $30M Availability $7.5M Block $2.8M LOC’s CVG
Slide 16: Questions Wrap-Up
CVG AGRICULTURE CONSTRUCTION TRUCK SCHOOL BUS BUS QUESTIONS Wrap-Up
Commercial Vehicle Group — Investor Presentation (December 2013) on 6ix