Manitowoc Company, Inc. (the) · NYSE:MTW
Manitowoc Company, Inc. (the) — The Manitowoc Company — Stifel Investor Meeting (August 2021)
26 slides from Manitowoc Company, Inc. (the)'s conference presentation, Aug 18, 2021
Slide 1: The Manitowoc Company, Inc.
The Manitowoc Company, Inc. August 18, 2021
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, an
Slide 3: The Manitowoc Company
The Manitowoc Company For over 100 years, Manitowoc has played an integral role in building the world of tomorrow through superior lifting technology and customer engagement 3
Slide 4: Vision & Mission
VISION MISSION OUR CORE We build the physical We aspire to We provide communities & have the highest premier mobile structures for customer confidence and tower cranes, current & future & trust in the lifting services, & generations. industry. solutions. VALU ES >Idowhatisright | >Weworkasateam >We
Slide 5: Values & Behaviors
Values & Behaviors 1 DO WHAT IS RIGHT > | work ina safe and > We help each other to > |do what | say | will do > | celebrate successes SUE A ay meet customer needs > | focus on continuous > I learn from failures responsible way : : . > | put the team first improvement > lapproach every day | respect
Slide 6: Values & Behaviors: Safety
Values & Behaviors: Safety Safety is our #1 priority 5S is essential for maintaining a safe workplace Every injury is preventable Safety requires continuous improvement Safety is everyone's responsibility SLAM is to be used by every employee ona daily basis Everyone has the authority and responsibil
Slide 7: Business System: The Manitowoc Way
Business System: The Manitowoc Way A Culture Built on Serving Our Customers 7
Slide 8: The Manitowoc Way: Kaizen
The Manitowoc Way: Kaizen Key Initiatives: • Safety • Kaizen Activities • Sales Training • Priority Deployment • ESG Mentoring & DEI Sustainability Employee Engagement through Continuous Improvement 8
Slide 9: The Manitowoc Way: Innovation
The Manitowoc Way: Innovation Launched 60+ New Models Over Last 5 Years 9
Slide 10: The Manitowoc Way: Growth Priorities
The Manitowoc Way: Growth Priorities 1. Grow Tower Crane Rental & Aftermarket business in Europe 2. Build out China and Belt & Road Tower Crane Business 3. Accelerate New Product Development in All-Terrain Cranes 4. Expand Aftermarket activities in North America Investing in Future Growth 10
Slide 11: 1. Grow EU Towers & Aftermarket Business
1. Grow EU Towers & Aftermarket Business EU Tower Market • Grow recurring rental Parts revenue stream • Support key accounts with strategic rental fleet New Cranes Rental • Expand parts and service business • Drive used crane sales Service • Investing $15m in 2021 Used Cranes Source: MTW estimates $
Slide 12: 2. Build out China / Belt & Road Business
2. Build out China / Belt & Road Business • Transitioned our China manufacturing factory into a regional business unit • Developing Cranes that meet Asia specification and cost targets • Locally engineered 4 new crane models for region • Sales have grown to ~300 units per year, but our market share
Slide 13: 3. Accelerate NPD in All-Terrain Cranes
3. Accelerate NPD in All-Terrain Cranes • Filling key product gaps & competing more aggressively on global market • Planning 7 new cranes over next 5 years • Homologating cranes for niche markets – Russia, South Korea, and Japan • Developing Grove Connect – new telematics tools • Leveraging pending
Slide 14: 4. Expand Aftermarket in North America
4. Expand Aftermarket in North America H&E Cranes and Aspen Equipment Acquisitions will be the Foundation of MGX Equipment Services 14
Slide 15: 4. Expand Aftermarket in North America
4. Expand Aftermarket in North America H&E Cranes + Aspen Equipment: • Comprehensive aftermarket business with 15 branches • ~350 team members with largest population of Grove/Manitowoc service technicians in the World • Growth engine for less cyclical, high margin revenue streams (service, parts, a
Slide 16: Long-Term Aspirations
Long-Term Aspirations • Strive towards a ZERO harm work environment (Achieve RIR* <1.0) • $2.5 Billion in revenue • Increase our aftermarket & reduce our cyclicality • Active acquisition pipeline • Manage liquidity and balance sheet capacity • +10% EBITDA at the peak • Reduce the Company’s environme
Slide 17: Appendix
Q@anitowoc Appendix
Slide 18: Q2 2021 Summary
Q2 2021 Summary Continued strength in order intake and backlog • EURAF: Towers strong; Mobiles recovery lagging • Growing demand in Americas and MEAP 18
Slide 19: Financial & Other Key Metrics
Financial & Other Key Metrics (1) See appendix for reconciliation of GAAP to non-GAAP measures (*) Not meaningful 19
Slide 20: Reinstated Full-Year 2021 Guidance
Reinstated Full-Year 2021 Guidance Revenue Approximately $1.775 to $1.825 billion Adjusted EBITDA Approximately $105 to $115 million Depreciation Approximately $38 to $42 million Interest expense Approximately $28 to $30 million Income tax expense Approximately $12 to $16 million, excluding discrete
Slide 21: Appendix
Appendix $300 $600 gus $537 $700 $500 $600 $400 $500 z z % 100 $300 3 a 6 $300 $200 $200 $100 $100 $ $ 02.2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 QS 2019 Q1 2020 Q2 2020 03 2020 4 2020 1 2021 022021 Ending Backlog —Orders $600 12.0% 10.6% $500 10.0% $400 8.0% $300 6.0% $200 4.0% $100 2.0% $ i 1
Slide 22: Appendix
Appendix (1) Q1 2019 and forward reflects termination of Manitowoc’s accounts receivable securitization program (2) See appendix for reconciliation of GAAP to non-GAAP measures 22
Slide 23: Appendix- Adjusted EBITDA Reconciliation
Appendix- Adjusted EBITDA Reconciliation 23
Slide 24: Appendix- Non-GAAP Financial Measures
Appendix- Non-GAAP Financial Measures 24
Slide 25: Appendix- Non-GAAP Financial Measures
Appendix- Non-GAAP Financial Measures 25
Slide 26: Q@anitowoc
Q@anitowoc workSsafe Q@antowoc-
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