Commercial Vehicle Group, Inc. · NASDAQ:CVGI
Commercial Vehicle — Investor Presentation (May 2018)
18 slides from Commercial Vehicle's investor presentation, May 23, 2018
Slide 1: Commercial Vehicle Group, Inc. Investor Presentation
Patrick Miller Commercial Vehicle Group, Inc. President and CEO May 23, 2018 Tim Trenary Chief Financial Officer Terry Hammett Treasurer and VP Investor Relations
Slide 2: Forward Looking Statements
Forward Looking Statements 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 presentation may con
Slide 3: Company Overview
Company Overview • NASDAQ: CVGI Leading supplier of a full range of cab related products and systems for the • Global Presence : 23 Facilities / 9 Countries global commercial vehicle market • Employees: 8,900 (FYE 2017) • Global sales, engineering, manufacturing and assembly capabilities • LTM Sales
Slide 4: Products
Products Seats & Seating Wire Harnesses & Systems Controls Interior Trim Wiper Systems, Cabs and Sleeper Boxes Mirrors & Controls pg | 3
Slide 5: 2017 Sales - $755 Million
2017 Sales - $755 Million Region Product End Market Customer pg | 4
Slide 6: End Market Outlook
End Market Outlook North American Truck Market Global Construction Equipment Market • Forecasting services recently increased . Construction continues to be supported by Class 8 builds for 2018 and 2019 consumer spending and global trade . Low machine inventories and high rental • Heavy and medium-d
Slide 7: Driving Efficiencies
Driving Efficiencies CVG Digital . Digitalize process control, production reporting, and error proofing . Cloud-based manufacturing and engineering systems . Technology upgrades to wire harness production . Expect efficiency and quality improvements; reduction of working capital Process investme
Slide 8: CVG Digital Actions
CVG Digital Actions Built-in Quality – Digital error proofing and smart processes Virtual Wiring Boards for rapid changeover Real time process Piloting improved process18% Fewer monitoring and applications using cobots andSales data tracking google glass technology 18% Fewer Sales 18% Fewer Sales pg
Slide 9: Targets for Growth
Targets for Growth Global Truck and Bus Next Gen NA truck seat in production and quoting additional OEM platforms; Asia growth opportunities with locally produced products; Electronic options for seats, wipers, and interior trim. Wire harnesses – North America, Europe and Asia Expanding capacity in
Slide 10: Why CVGI?
Why CVGI? • Global capabilities • Strong customer relationships • Product design and customer support • Major product brands • Improved process discipline – Lean Six Sigma • CVG Digital • 2018 and 2019 market outlook is positive pg | 9
Slide 11: Finance Update
Finance Update GP COMMERCIAL VEHICLE GROUP, INC.
Slide 12: Financial Results
Financial Results (Dollars in millions) Q1 2017 Q1 2018 Sales $ 173.4 $ 215.7 Up 24% Gross Profit $ 21.5 $ 31.1 Build volumes, commodity prices and Margin 12.4 % 14.4 % labor markets SG&A $ 16.6 $ 15.3 Cost discipline in rising sales environment Operating Income $ 4.6 $ 15.5 Margin 2.6 % 7.2 % N.A.
Slide 13: Business Segments - GTB Global Truck & Bus
Business Segments - GTB Global Truck & Bus (Dollars in millions) Q1 2017 Q1 2018 Sales $ 102.1 $ 128.3 Up 26% Gross Profit $ 14.0 $ 19.0 Build volumes and commodity prices Margin 13.8 % 14.8 % SG&A $ 5.5 $ 5.5 Cost discipline in rising sales environment Operating Income $ 8.3 $ 13.2 Margin 8.1 % 10.
Slide 14: Business Segments - GCA Global Construction and Agriculture
Business Segments - GCA Global Construction and Agriculture (Dollars in millions) Q1 2017 Q1 2018 Sales $ 73.5 $ 91.2 Up 24% Gross Profit $ 7.8 $ 12.5 Sales volume, commodity prices and Margin 10.6 % 13.8 % labor markets SG&A $ 4.5 $ 4.3 Cost discipline in rising sales environment Operating Income $
Slide 15: Capital Structure
Capital Structure LTM (Dollars in millions) Q1 2018 Term Loan Principal Balance $ 172 Debt $ 179 Interest Rate LIBOR + 600 Less: Cash 38 Maturity April 2023 Net Debt $ 141 Interest Rate Swap $ 80 EBITDA $ 59 Interest Rate 8.07% Maturity April 2022 Gross Leverage 3.0 x Net Leverage 2.4 x Asset Based
Slide 16: Patrick Miller Commercial Vehicle Group, Inc. President and CEO May 23, 2018 Tim Trenary
Patrick Miller Commercial Vehicle Group, Inc. President and CEO May 23, 2018 Tim Trenary Chief Financial Officer Terry Hammett Treasurer and VP Investor Relations
Slide 17: Appendix GAAP to Non-GAAP Reconciliation
Appendix GAAP to Non-GAAP Reconciliation
Slide 18: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation EBITDA Reconciliation LTM (Dollars in millions) Q1 2018 Net Income $ 7.5 Interest Expense 16.8 Tax Provision 19.7 Depreciation 13.9 Amortization 1.3 EBITDA $ 59.2 pg | 17
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