Manitowoc Company, Inc. (the) · NYSE:MTW
Manitowoc Company, Inc. (the) — The Manitowoc Company — Credit Suisse 7th Annual Industrials Conference 2019
16 slides from Manitowoc Company, Inc. (the)'s conference presentation, Dec 4, 2019
Slide 1: Credit Suisse Industrials Conference
Credit Suisse Industrials Conference Barry Pennypacker – President & Chief Executive Officer December 4, 2019 David Antoniuk – SVP & Chief Financial Officer Ion Warner – VP Marketing & Investor Relations
Slide 2: Forward-Looking Statements
Forward- Looking Statements Safe Harbor Statement Any statements contained in this presentation that are not historical facts are “forward-looking statements.” These statements are based on the current expectations of the management of the company, only speak as of the date on which they are made, a
Slide 3: Company Overview
Company Overview ✓ Global leader in lifting solutions ✓ Leader in innovation (60+ new products introduced since becoming a stand-alone crane company) ✓ Global customer financing and aftermarket solutions ✓ Serving wide range of end markets ✓ Stable customer base across diverse range of geographies ✓
Slide 4: Leading Brands in every category
Leading Brands in every category Rough-terrain cranes Truck- Tower mounted cranes cranes Boom Lattice Trucks / Industrial crawlers cranes All-terrain Telescoping cranes crawler cranes 4
Slide 5: Aftermarket Business
Aftermarket Business ~144,000 Global Crane Installed Base Highly differentiated global aftermarket solutions and services 5
Slide 6: Highly Strategic Global Footprint
Highly Strategic Global Footprint Americas: EURAF: 48% of 37% of Revenue (1) Revenue (1) MEAP: 15% of Revenue (1) Sales / Distribution Representation Manufacturing Facility ✓ Unique ability to provide localized products, service and support globally ✓ Enhances worldwide brand recognition ✓ Allows Co
Slide 7: The Manitowoc Way
The Manitowoc Way Customers 1. Margin Expansion Velocity 2. Growth Innovation 3. Innovation Shareholders Employees 4. Velocity 7
Slide 8: Strategic Priorities
Strategic Priorities • Optimize global capacity and cost structure • Increase manufacturing agility Margin Expansion • Improve productivity • Pricing to offset material cost increases • Increase market share • Expand recurring revenue streams using new tools Growth • Financial flexibility through ne
Slide 9: State of the Business
State of the Business Managing through the Crane Cycle • Greater agility to maximize the peak while mitigating trough cycles • Continuously drive operational improvements Renewed Focus on Quality and Reliability • Quality prior to product delivery • Winning back customers Well-Accepted New Products
Slide 10: Improving Financial Performance
Improving Financial Performance Backlog & Orders by Quarter Adjusted Diluted Earnings Per Share by Quarter $800 $700 $800 $700 $1.50 $700 $620 $600 $700 $600 $600 $536 $1.00 $500 $600 $488 $486 $500 $458 $500 $431 $441 $400 $376 $0.50 Backlog Orders $500 $400 $380 $372 $348 $400 Backlog $353 Orders
Slide 11: Appendix
Q@anitowoc Appendix
Slide 12: Q3 2019 Financial & Other Key Metrics
Q3 2019 Financial & Other Key Metrics Q3 2019 Q3 2018 Y/Y ∆ Net sales $ 448.0 $ 450.1 (0.5)% Engineering, selling & admin expenses 54.8 62.1 (11.9)% Operating income 32.5 16.9 92.4 % Adjusted operating income (1) 33.9 21.5 57.6 % Net income 18.1 11.5 56.9 % (1) Adjusted net income 19.2 7.3 163.0 % (
Slide 13: Updated Full-Year 2019 Guidance
Updated Full-Year 2019 Guidance Revenue Approximately $1.850 to $1.880 billion Adjusted EBITDA Approximately $145 to $160 million Depreciation Approximately $35 to $37 million Restructuring expense Approximately $10 to $12 million Interest expense Approximately $31 to $33 million, excluding debt ref
Slide 14: Appendix- Adjusted EBITDA Reconciliation
Appendix- Adjusted EBITDA Reconciliation Adjusted EBITDA and Adjusted Operating Income The Company defines adjusted EBITDA as earnings before interest, income taxes, depreciation and amortization, plus an addback of certain restructuring and other charges. The reconciliation of income (loss) from co
Slide 15: Appendix- Non-GAAP Financial Measures
Appendix- Non-GAAP Financial Measures Non-GAAP Items Adjusted net income from continuing operations, adjusted EBITDA, adjusted operating cash flows and adjusted free cash flows are financial measures that are not in accordance with GAAP. Manitowoc believes these non-GAAP financial measures provide i
Slide 16: Appendix- Non-GAAP Financial Measures
Appendix- Non-GAAP Financial Measures Nine Months Ended September 30, 2019 2018 As reported Adjustments Adjusted As reported Adjustments Adjusted Gross profit $ 263.8 $ — $ 263.8 $ 238.9 $ — $ 238.9 Engineering, selling and administrative expenses (1) (164.7 ) 0.3 (164.4 ) (184.6 ) 3.6 (181.0 ) Asse
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