Albany International Corporation · NYSE:AIN
Albany International — Q4 2018 Earnings Presentation
9 slides from Albany International's earnings presentation, Feb 11, 2019
Slide 1: Q4 Financial Performance
Q4 Financial PerformanceFebruary 11, 2019 www.albint.com | AIN | #albint
Slide 2: Non-GAAP Items and Forward-Looking Statements
‘Non-GAAP’ Items and Forward-Looking Statements This presentation contains the following non-GAAP measures:Percentage changes in net sales, excluding currency rate effects (for each segment, and the Company as a whole);Adjusted EBITDA (for each segment, and the Company as a whole; absolute and as a
Slide 3: Net Sales by Segment
Net Sales by Segment 3 (in thousands, except percentages) Net SalesThree Months endedDecember 31, 2018 2017 PercentChange Impact of Changesin CurrencyTranslation Rates Increase /(decrease) due to ASC 606 Percent Changeexcluding Currency Rate and ASC 606 Effects Machine Clothing (MC) $150,693 $150,26
Slide 4: Gross Profit Margin by Quarter
Gross Profit Margin by Quarter 4 Includes 7.3% impact from profitability revision in two AEC contracts * Reflects correction of immaterial errors related to the implementation of ASC 606 in the Company’s quarterly financial statements for the first three quarters of 2018.
Slide 5: Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment, Q4
Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment 5 Three Months ended December 31, 2018 (in thousands) Machine Clothing Albany Engineered Composites Corporate expenses and other Total Company Operating income/(loss) (GAAP) $42,884 $6,667 $(12,137) $37,414 Interest, taxes, other income/exp
Slide 6: Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment, Full Year
Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment 6 Year ended December 31, 2018 (in thousands) Machine Clothing Albany Engineered Composites Corporate expenses and other Total Company Operating income/(loss) (GAAP) $169,836 $16,647 $(49,075) $137,408 Interest, taxes, other income/expense
Slide 7: Earnings Per Share
Earnings Per Share 7 *Includes $0.31 charge for AEC contract revisions Per share amounts (Basic) Three Months endedDecember 31, 2018 2017 YearsendedDecember 31, 2018 2017 * Net income attributable to the Company, as reported (GAAP) $0.55 $0.18 $2.57 $1.03 Adjustments: Restructuring expenses, net 0.0
Slide 8: Total Debt (GAAP) and Net Debt (non-GAAP)
Total Debt (GAAP) and Net Debt* (non-GAAP) $ thousands 8 * Total debt less cash see table 22 for reconciliation of total debt to net debt
Slide 9: Summary Financial Information Q1 through Q3 2018, as revised
Summary Financial InformationQ1 through Q3 2018, as revised* 9 (dollars in thousands, except per share data) Machine Clothing segment (in thousands) Q1 Q2 Q3 Nine Months ended September 30, 2018 Net sales $141,773 $161,784 $157,608 $461,165 Gross profit $66,311 $79,072 $78,728 $224,111 Gross profit