Nn, Inc. · NASDAQ:NNBR
Nn — Q4 2024 Earnings Presentation
21 slides from Nn's earnings presentation, Mar 6, 2025
Slide 1: Fourth Quarter and Full-Year 2024 Earnings Call
Fourth Quarter and Full-Year 2024 Earnings Call March 6, 2025
Slide 2: Forward Looking Statement & Disclosures
Forward Looking Statement & Disclosures Except for specific historical information, many of the matters discussed in this press release may express or imply projections of revenues or expenditures, statements of plans and objectives or future operations or statements of future economic performance.
Slide 3: Harold Bevis, Tim French, Chris Bohnert
Harold Bevis President & Chief Executive Officer Tim French SVP & Chief Operating Officer Chris Bohnert SVP & Chief Financial Officer 3
Slide 4: Business Update
Business Update First full year of company transformation produced significant results, successfully changing business trajectory ▪ Communicated immediate and 5-year performance goals and tracking to them ▪ Installed top new leadership team globally ~80% complete ▪ Changed direction of business deve
Slide 5: NN's 5-Year Plan for Growing Sales and Profits
NN’s 5-Year Plan for Growing Sales and Profits 2028 Goals Pathway to Achievement Near-Term Progress ▪ $40 million of net annual growth driven by $65 million of annual new awards and $25 million of EOPs / walkaways Secured $149 million of new business Grow Net Sales to $650M ▪ Higher growth targeted
Slide 6: Transformation Update: 2025 Will Be Another Formative Year
Transformation Update: 2025 Will Be Another Formative Year From 0 to 60% Complete in Six Quarters 1. Modify leadership to mirror and lead the new forward agenda New Leadership 80% "Group of 7" Adjusted EBITDA 2. Confront and sort out chronic underperforming FY’25 FY’23 FY’24 areas – sales declines,
Slide 7: Turnaround of the 'Group of 7' Plants Over Last 6 Quarters
Turnaround of the ‘Group of 7’ Plants Over Last 6 Quarters 2023 What New Management Has Done 2025 Outlook Sales: $112.6M Sales: $74.6M Adj. EBITDA: ($11.5)M Adj. EBITDA: $5.1M New management uncovers that 7 Going Forward plants are negative Adjusted EBITDA ▪ Every plant has positive Adj. EBITDA 2025
Slide 8: Q4 Financial Results
Q4 Financial Results As Reported Q4’23 Pro Forma Adjustments Pro Forma ($millions) Q4’23 Q4’24 Δ Sale of Rationalized FX Total Q4’23 Q4’24 Δ Lubbock Volume Net Sales $112.5 $106.5 ($6.0) ($5.0) ($1.5) ($1.6) ($8.1) $104.4 $106.5 $2.1 Adj. Operating Income ($1.4) $2.4 $3.8 ($0.6) $0.5 - ($0.1) ($1.5)
Slide 9: Full-Year Financial Highlights
Full-Year Financial Highlights As Reported 2023 Pro Forma Adjustments Pro Forma Rationalized Customer Precious ($millions) 2023 2024 Δ Lubbock FX Total 2023 2024 Δ Volume Settlement Metals Net Sales $489.3 $464.3 ($25.0) ($10.9) ($8.6) ($1.1) - ($3.5) ($24.1) $465.2 $464.3 ($0.9) Adj. Operating Inco
Slide 10: Power Solutions – Stamped Products: Q4'24 Highlights
Power Solutions – Stamped Products: Q4‘24 Highlights Q4’24 Sales Bridge Adjusted EBITDA & Margin ($ millions) ($ millions) $43.3 15.2% 16.2% $4.4 $39.2 ($8.5) ($0.0) $28.3 $29.2 15.3% 14.2% Q4 2023 Volume FX Pass-thru Q4 2024 $6.6 $5.6 Increase Decrease Total Fourth Quarter Full Year 2023 2024 2023
Slide 11: Mobile Solutions – Machined Products: Q4'24 Highlights
Mobile Solutions – Machined Products: Q4‘24 Highlights Q4’24 Sales Bridge Adjusted EBITDA & Margin ($ millions) ($ millions) 12.5% $69.2 $1.7 9.8% $67.4 ($1.1) ($1.6) ($1.0) 14.8% 10.3% $35.6 $29.8 Q4 2023 Price Volume FX Pass-thru Q4 2024 $7.1 $10.0 Increase Decrease Total Fourth Quarter Full Year
Slide 12: Balance Sheet Improvement Update
Balance Sheet Improvement Update → Term Loan Refinancing Underway Refinancing Goals • Improved operational flexibility through improved terms and structure • Lower overall cost of capital • Create available capacity to pursue targeted M&A at the right time and/or bolder organic sales growth Rebooted
Slide 13: 2025 Current Outlook
2025 Current Outlook → Current market conditions pushing guidance towards lower half of ranges Revenue of $450 to $480 million ▪ At midpoint, slight growth year-over-year on a pro forma basis ▪ Normalized for sale of Lubbock mid-year 2024 and rationalized volumes during 2024 Adjusted EBITDA of $53 t
Slide 14: Appendix
Appendix 14
Slide 15: Non-GAAP Financial Measures Footnotes
Non-GAAP Financial Measures Footnotes The Company discloses in this presentation the non-GAAP financial measures of adjusted income (loss) from operations, adjusted EBITDA, adjusted net income (loss), adjusted net income (loss) per diluted share, free cash flow and net debt. Each of these non-GAAP f
Slide 16: Reconciliation of GAAP Income (Loss) from Operations to Non-GAAP Adjusted EBITDA
Reconciliation of GAAP Income (Loss) from Operations to Non-GAAP Adjusted Income (Loss) from Operations and Non-GAAP Adjusted EBITDA 16
Slide 17: Reconciliation of GAAP Income (Loss) from Operations to Non-GAAP Adjusted EBITDA
Reconciliation of GAAP Income (Loss) from Operations to Non-GAAP Adjusted Income (Loss) from Operations and Non-GAAP Adjusted EBITDA 17
Slide 18: Reconciliation of GAAP Net Income (Loss) to Non-GAAP Adjusted Net Income (Loss)
Reconciliation of GAAP Net Income (Loss) to Non-GAAP Adjusted Net Income (Loss) and GAAP Net Income (Loss) per Diluted Common Share to Non-GAAP Adjusted Net Income (Loss) per Diluted Common Share 18
Slide 19: Reconciliation of GAAP Net Income (Loss) to Non-GAAP Adjusted Net Income (Loss)
Reconciliation of GAAP Net Income (Loss) to Non-GAAP Adjusted Net Income (Loss) and GAAP Net Income (Loss) per Diluted Common Share to Non-GAAP Adjusted Net Income (Loss) per Diluted Common Share 19
Slide 20: Reconciliation of Operating Cash Flow to Free Cash Flow
Reconciliation of Operating Cash Flow to Free Cash Flow 20
Slide 21: Thank You
Investor & Media Contacts Joe Caminiti or Stephen Poe NNBR@alpha-ir.com 312-445-2870 Thank You 21