Cooper-standard Holdings Inc. · NYSE:CPS
Cooper-standard — Q3 2013 Earnings Presentation
18 slides from Cooper-standard's earnings presentation, Nov 7, 2013
Slide 1: Cooper Standard Third Quarter 2013 Earnings
Exhibit 99.1 Cooper Standard NYSE: CPS Third Quarter 2013 Earnings November 7, 2013
Slide 2: Safe Harbor
Safe Harbor This presentation includes “forward-looking statements” within the meaning of U.S. federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. We make forward-looking statements in this presentation and may make such statemen
Slide 3: Executive Overview Third Quarter 2013
Executive Overview Third Quarter 2013 Jeff Edwards Chairman and Chief Executive Officer
Slide 4: Executive Overview: Industry Landscape
Executive Overview Industry Landscape: • Global market continues steady growth of 4.7% • North American vehicle production remains strong • European headwinds remain • Emerging markets continue strong growth 4 4
Slide 5: Third Quarter Business Highlights
Executive Overview Third Quarter Business Highlights • Listed on the NYSE: CPS • Inaugurated Bawal, India plant Ground breaking in Sanand, India • Broke ground on new facility in Sanand, India • Serbian development on schedule • Received first Fluid Transfer Systems order in China Sremska, Mitrovica
Slide 6: Third Quarter Financial Highlights
Executive Overview ThirdQuarterFinancialHighlights • Consolidated sales of $764.1 million • Revenue growth of 11.7% quarter-over-quarter • Sales increased in all regions • Solid margins continue 6 6
Slide 7: Financial Overview Third Quarter 2013
Financial Overview Third Quarter 2013 Allen Campbell Chief Financial Officer
Slide 8: Q3 and Year-to-Date 2013 Revenue
Q3 and Year-to-Date 2013 Revenue $ USD Millions Q3 2013 Year-to-Date 2013 $150 $450 $101 $109 $302 $335 $500 $100 $1,250 $300 $1,192 $50 $1,139 $150 $409 $0 $0 $400 Unconsolidated JVs $1,000 Unconsolidated JVs $364 $806 $781 $300 $750 $258 $228 $200 $500 $100 $250 $156 $160 $139 $53 $54 $107 $39 $43
Slide 9: Q3 and Year-to-Date 2013 Performance
Q3 and Year-to-Date 2013 Performance $ USD Millions, except EPS / % Third Quarter Year-to-Date 2012 2013 2012 2013 $684.0 $764.1 Sales $2,183.8 $2,296.3 103.1 115.0 Gross Profit 339.2 367.6 15.1 % 15.1% % Margin 15.5% 16.0% 65.4 73.0 SGA 206.4 220.8 23.6 36.4 Operating Profit 105.4 127.5 3.5% 4.8% %
Slide 10: EBITDA and Adjusted EBITDA Reconciliation
EBITDA and Adjusted EBITDA Reconciliation Nine Months Ended Sep 30, $ USD Millions 2012 2013 Net income $ 112.7 $ 68.7 Income tax expense (benefit) (32.8) 24.6 Interest expense, net of interest income 33.3 40.0 Depreciation and amortization 91.2 83.2 EBITDA $ 204.4 $ 216.5 Restructuring, net of nonc
Slide 11: 2013 Guidance
Key Assumptions: North American production 16.2 million 2013 Guidance European (including Russia) production 19.0 million Average full year exchange rate $1.32/Euro Revenues Cash Taxes $ USD Millions $3,050 - $3,075 $ USD Millions $2,854 $2,881 $21 $2,414 $18 $1,945 $11 $5-$10 ($1) 2009A 2010A 2011A
Slide 12: S PASSION FOR PERFORMA
S PASSION FOR PERFORMA
Slide 13: Appendix
1ON FOR PERFORMA
Slide 14: Net Leverage Ratio and Adj. EBITDA % Margin
Net Leverage Ratio and Adj. EBITDA % Margin as of September 30, 2013 Twelve Months ($ USD Millions) Three Months Ended Ended Dec 31, 2012 Mar 31, 2013 Jun 30, 2013 Sep 30, 2013 Sep 30, 2013 Net income (loss) $ (9.9) $ 20.7 $ 27.4 $ 20.6 $ 58.8 Income tax expense 1.2 7.9 12.2 4.5 25.8 Interest expens
Slide 15: EBITDA and Adjusted EBITDA – Twelve Months Ended September 30, 2012
EBITDA and Adjusted EBITDA – Twelve Months Ended September 30, 2012 ($ USD Millions) Twelve Months Three Months Ended Ended Dec 31, Mar 31, Jun 30, Sep 30, Sep 30, 2011 2012 2012 2012 2012 Net income $ 23.2 $ 23.8 $ 77.3 $ 11.6 $ 135.9 Income tax expense (benefit) (6.0) 8.1 (46.2) 5.4 (38.7) Interes
Slide 16: EBITDA and Adjusted EBITDA – Nine Months Ended September 30, 2013
EBITDA and Adjusted EBITDA – Nine Months Ended September 30, 2013 Nine Months ($ UD Millions) Three Months Ended Ended Mar 31, Jun 31, Sep 30, Sep 30, 2013 2013 2013 2013 Net income $ 20.7 $ 27.4 $ 20.6 $ 68.7 Income tax expense 7.9 12.2 4.5 24.6 Interest expense, net of interest income 11.2 13.6 15
Slide 17: EBITDA and Adjusted EBITDA – Nine Months Ended September 30, 2012
EBITDA and Adjusted EBITDA – Nine Months Ended September 30, 2012 Nine Months ($ USD Millions) Three Months Ended Ended Mar 31, Jun 31, Sep 30, Sep 30, 2012 2012 2012 2012 Net income $ 23.8 $ 77.3 $ 11.6 $ 112.7 Income tax expense (benefit) 8.1 (46.2) 5.4 (32.8) Interest expense, net of interest inc
Slide 18: Non-GAAP Financial Measures
Non-GAAP Financial Measures EBITDA and adjusted EBITDA are measures not recognized under Generally Accepted Accounting Principles (GAAP) which exclude certain non-cash and non-recurring items. When analyzing the company’s operating performance, investors should use EBITDA and adjustedEBITDAin additi
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