Shyft — The Shyft Group — Q4 2024 Earnings Presentation
17 slides from Shyft's earnings presentation, Feb 20, 2025
Slide 1: Fourth Quarter and Full-Year 2024 Earnings Conference Call
Fourth Quarter and Full-Year 2024 Earnings Conference Call February 20, 2025 © THE SHYFT GROUP, INC. | Proprietary & Confidential
Slide 2: Forward-Looking Statement
Forward-Looking Statement Certain statements in this Current Report on Form 8-K are forward-looking statements. In some cases, Shyft has identified forward-looking statements by such words or phrases as “will likely result,” “is confident that,” “expect,” “expects,” “should,” “could,” “may,” “will c
Slide 3: No offer or solicitation
No offer or solicitation This communication is for informational purposes only and is not intended to and shall not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any securities, or a solicitation of any vote or approval, nor shall there be any offer, solicitatio
Slide 4: Full-Year 2024 Highlights
Full-Year 2024 Highlights $786M $49M (10%) decrease YoY 6% of Sales Shyft adjusted EBITDA margin expansion of +1.6 points FVS improved to 7.2%, +1.6 pts YoY Sales Adjusted EBITDA SV maintained 19% margins Balance sheet remains strong with net leverage less than 2x $313M $30M Successfully s
Slide 5: Positive Operational Momentum in 2024
Positive Operational Momentum in 2024 HIGH PERFORMING TEAMS OPERATING FRAMEWORK • Strong results from recently launched safety initiative, Mission Zero, led to reduction in workplace injuries by 40% OPERATIONAL EXCELLENCE • Lean and efficiency initiatives drove significantly improved financial resul
Slide 6: Fourth Quarter Financial Review and 2025 Outlook
Fourth Quarter Financial Review and 2025 Outlook © THE SHYFT GROUP, INC. | Proprietary & Confidential
Slide 7: Shyft Financial Summary – 4Q24
Shyft Financial Summary – 4Q24 Reported Financials Adjusted Financials ($ millions, except EPS) ($ millions, except EPS, & % of Sales) Sales Adjusted EBITDA $15.9 $202.3 $201.4 Flat Meaningful Improvement $2.3 1.1% 7.9% 4Q23 4Q24 4Q23 4Q24 Net Income and EPS Adjusted Net Income $5.0 Improved Results
Slide 8: Segment Results Summary – 4Q24
Segment Results Summary – 4Q24 Sales Adjusted EBITDA ($ millions) ($ millions and % of Sales) $119.0 $110.7 $12.1 FVS (7%) Decrease Meaningful Improvement (2.2%) 10.9% 4Q23 4Q24 4Q23 4Q24 ($2.6) $83.4 $87.5 $19.0 $16.6 SV 5% Increase (12%) Decrease 22.8% 19.0% 4Q23 4Q24 4Q23 4Q24 Operational focus d
Slide 9: 2025 Full-Year Outlook
2025 Full-Year Outlook $870 to $970M • Assumes modest market recovery weighted toward the second half of the Sales +17% at midpoint year for parcel and motorhome • Sales growth led by demand for infrastructure related products Adjusted $62 to $72M • Reflects positive financial impact of Blue Arc pro
Slide 10: Transaction Update
Transaction Update © THE SHYFT GROUP, INC. | Proprietary & Confidential
Slide 11: Combination Creates Leading Specialty Vehicles Company Positioned to Drive Outsized Growth
Combination Creates Leading Specialty Vehicles Company Positioned to Drive Outsized Growth MergeCo Scaled-up global specialty vehicles leader focused on attractive North 2025E Pro Forma (1)(2)(3) American market, with a strong European presence ~$2.2B ~$214M Expanded portfolio, shared innovation, an
Slide 12: Continued Progress to Closing Combination with Aebi Schmidt
Continued Progress to Closing Combination with Aebi Schmidt Released supplemental investor communications supported by dedicated deal microsite at www.aspecialtyvehiclesleader.com Transaction + Received Hart-Scott-Rodino (HSR) approval and work underway to complete additional regulatory filings
Slide 13: Q&A Session
Q&A Session © THE SHYFT GROUP, INC. | Proprietary & Confidential
Slide 14: Appendix
Appendix © THE SHYFT GROUP, INC. | Proprietary & Confidential
Slide 15: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures This presentation presents Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), adjusted net income, adjusted earnings per share, and free cash flow, each of which is a non-GAAP financial measure. We define Adjusted EBITDA as
Slide 16: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures The Shyft Group, Inc. and Subsidiaries Consolidated Financial Summary (Non-GAAP) (In thousands, except per share data) (Unaudited) The Shyft Group, Inc. and Subsidiaries Consolidated Financial Summary (Non-GAAP) Three Months Ended December 31, Twelve Mon
Slide 17: Thank you.
Thank you. © THE SHYFT GROUP, INC. | Proprietary & Confidential