Hyster-yale, Inc. · NYSE:HY
Hyster-yale — Q4 2024 Earnings Presentation
77 slides from Hyster-yale's earnings presentation, Feb 25, 2025
Slide 1: Q4 2024 Investor Presentation
Q4 2024 Investor Presentation
Slide 2: Safe Harbor Statement and Disclosure
Safe Harbor Statement and Disclosure This presentation includes forward-looking comments subject to important risks and uncertainties. It may also contain financial measures that are not in conformance with accounting principles generally accepted in the United States of America (GAAP). Refer to Hys
Slide 3: Q4 2024 Quarterly Overview
Q4 2024 Quarterly Overview
Slide 4: Hyster-Yale (NYSE: HY)
Hyster-Yale (NYSE: HY) One company with three businesses, each offering a full line of products and services 1 LIFT TRUCK 2 BOLZONI 3 NUVERA Core Business Attachment Business Fuel Cell Business FOR EACH BUSINESS Board of Directors ● CEO ● P&L and balance sheet ● Tailored incentive plans 4
Slide 5: Hyster-Yale at a Glance – Q4 2024
Hyster-Yale at a Glance – Q4 2024 CONSOLIDATED $1.1B $32M $54M $10M $26M REVENUES OPERATING ADJUSTED NET INCOME ADJUSTED NET PROFIT OPERATING INCOME(2) PROFIT(2) SEGMENTS $M LIFT TRUCK(1) BOLZONI(1) NUVERA(1) Operating Profit (Loss) $45 $(4) $(8) Adjusted Operating Profit (Loss)(2) $62 $(0) $(8) ___
Slide 6: Key Takeaways – Q4 2024
Key Takeaways – Q4 2024 SOLID EXECUTION IMPROVING INCREASED 2025 FINANCIAL AGAINST STRONG PY FINANCIAL LEVERAGE BOOKINGS OUTLOOK $1.1B 47% $400M Year-over-year REVENUE DEBT TO TOTAL revenues and profits UNIT BOOKINGS VALUE +4% vs. prior year CAPITAL +8% vs. Q3 ‘24 expected to down 800 Bps* vs. prior
Slide 7: Results for Q4 2024 vs. Prior Year
Results for Q4 2024 vs. Prior Year HY CONSOLIDATED LIFT TRUCK(1) BOLZONI(1) NUVERA(1) ($M) Q4 2024 Q3 2023 VARIANCE Q4 2024 Q4 2024 Q4 2024) Revenues $1,068 $1,027 $41 $1,022 $83 $0 Adjusted Operating Profit (Loss)(2) $54 $49 $5 $62 $0 $(8) Adjusted Net Income (Loss)(2) $26 $25 $1 Adjusted EBITDA(2)
Slide 8: Quarterly Cash and Debt Positions
Quarterly Cash and Debt Positions Q4 2024 CASH FLOW ACTIVITY CONTINUED DEBT TO TOTAL CAPITAL IMPROVEMENT ($M) As of 12/31/24: Net Debt Debt to Total Capital % 500 80% • ~$97M of Cash on hand 400 70% • Unused Borrowing Capacity ~$290M 344 60% 300 50% • Working Capital to Sales ratio: 18%; 200 47% Tar
Slide 9: FY 2025 Outlook
FY 2025 Outlook Significant revenue and profit decline from robust prior year LIFT TRUCK BOLZONI NUVERA HYSTER-YALE, INC. • Revenues significantly • Lower revenue compared • Revenue above 2024 • Significant decreases in lower vs. 2024 to 2024 due to legacy ‒ Higher shipments incl. revenues, producti
Slide 10: Company Overview & Strategy
Image Placeholder Use same image as slide 1; blend of all brands/solutions Company Overview & Strategy
Slide 11: Hyster-Yale at a Glance – Full Year 2024
Hyster-Yale at a Glance – Full Year 2024 CONSOLIDATED $4.3B $245M $267M $142M $159M REVENUES OPERATING ADJUSTED NET INCOME ADJUSTED NET PROFIT OPERATING INCOME(2) PROFIT(2) SEGMENTS $M LIFT TRUCK(1) BOLZONI(1) NUVERA(1) Operating Profit (Loss) $277 $9 $(41) Adjusted Operating Profit (Loss)(2) $295 $
Slide 12: Hyster-Yale (NYSE: HY)
Hyster-Yale (NYSE: HY) One company with three businesses, each offering a full line of products and services 1 LIFT TRUCK 2 BOLZONI 3 NUVERA Core Business Attachment Business Fuel Cell Business CONSOLIDATED FINANCIALS SALES BY SEGMENT Americas 2024 74.8% ($M) EMEA 16.4% Revenues $4,308 2024 JAPIC* *
Slide 13: Vision
Vision: Transforming the way the world moves materials from Port to Home ATTACHMENTS LIFT TRUCKS FUEL CELLS Transformation focused on reducing impact of material movement on people, environment and the economy driven by the imagination and creativity of our team 13
Slide 14: Mission
Mission: Providing Optimal Solutions & Excellent Customer Care We make our customers two promises OPTIMAL SOLUTIONS CUSTOMER CARE • Understand customers’ applications and • Never let customers down needs for equipment/power options • Engagement and solutions through • Provide optimal solutions lifec
Slide 15: Lift Trucks are Integral to Our Lives
Lift Trucks are Integral to Our Lives Products are handled numerous times by a forklift before they reach the end customer 15
Slide 16: Global Leader of Material Handling Solutions
Global Leader of Material Handling Solutions 8,600 GLOBAL EMPLOYEES Serving customers globally, regionally and locally using an GLOBAL INDUSTRY COVERAGE industry- and customer-focused approach • Industry application focus • Full-range of classes 1 to 5 lift trucks • Integrated technologies to reduce
Slide 17: Global Mega Trends Accelerate Growth
Global Mega Trends Accelerate Growth Long-term growth rates supported by market shifts and HY’s unique capabilities PRODUCTIVITY ELECTRIFICATION Technology Solving Challenges Industry-specific approach Fuel cells and smart to application challenges batteries EMPLOYEE SAFETY INFORMATION AS A Operator
Slide 18: 100+ Years of Leading Innovations and Operational Excellence
100+ Years of Leading Innovations and Operational Excellence Full Range of products, power options and solutions ~2,500 lbs CAPACITY 100,000+ lbs ELECTRIC INTERNAL COMBUSTION (ICE) CLASS 1 CLASS 5 CB* WAREHOUSE COUNTERBALANCED BATTERY/FUEL CELL ICE CLASS 1 CLASS 2 CLASS 3 CLASS 4 CLASS 5 BIG TRUCKS:
Slide 19: Unique Business Model
Unique Business Model Efficient capital deployment targeting high returns INVESTMENT FINANCIAL PRACTICES TARGETS Focus on >20% investments in ROTCE* areas of expertise over 7% investments operating profit that require margin high capital Lift Truck + Bolzoni CAPITAL EFFICIENT INVESTMENTS carrying co
Slide 20: Operating Structure Optimized to Deliver Customer-Centric Solutions
Operating Structure Optimized to Deliver Customer-Centric Solutions Through Our 3 Businesses CUSTOMERS DISTRIBUTION INTERNAL CAPABILITIES • Global • Exclusive, independent • Modular, scalable platforms • Full product line dealers • “Center of gravity” suppliers • Solve biggest pain points • Direct s
Slide 21: Well-Defined, Long-Term Strategies Across All Businesses
Well-Defined, Long-Term Strategies Across All Businesses Service plus technology capabilities enhance the core and accelerate performance ENABLE GROWTH IN CORE ENHANCE POSITION FOR STAKEHOLDERS’ • Growth through our COMPETITIVE FUTURE GROWTH SUCCESS Economic engine ADVANTAGE • Accretive capital • Cu
Slide 22: Our Economic Engine Drives Compounding Growth
Our Economic Engine Drives Compounding Growth Five core strategies to transform HY’s competitiveness, market position and economic performance over time, each supported by strategic projects Worldwide Geographic Volume Distribution Strength and Product Economies to Drive Market Share Balance of Scal
Slide 23: Strategically Focused with Disciplined Execution
Strategically Focused with Disciplined Execution Connecting strategies to key projects within our businesses to achieve growth objectives PROJECTS FOR REVENUE GROWTH PROFIT GROWTH CASH GENERATION CAPITAL DEPLOYMENT • Modular, scalable • Pricing • “Center of gravity” • Independent products suppliers
Slide 24: Our Superpower, Easy to Understand, Hard to Replicate
Our Superpower, Easy to Understand, Hard to Replicate Sustainable competitive advantage through disciplined, global cross-functional projects THICKET OF ACTIVITIES CULTURE MOMENTUM ACCOMPLISHMENTS Cross-company projects Discipline, problem solving Synergistically accelerating results Systematic, mis
Slide 25: One Company, Three Synergistic Businesses
One Company, Three Synergistic Businesses Executing on growth strategies with a margin and cash emphasis Core Business: LIFT TRUCKS Attachment Business: BOLZONI Fuel Cell Business: NUVERA Central & Regional Structure • Modular, Scalable Platforms • Industry Approach & Solutions Technology to Address
Slide 26: Long-Term Financial Objectives
Long-Term Financial Objectives
Slide 27: Strategy Execution Accelerating Progress
Strategy Execution Accelerating Progress Progress toward Lift Truck & Bolzoni long-term targets key to long-term HY results REVENUE GROWTH OPERATING PROFIT WORKING CAPITAL ROTCE MARGINS GDP ++ 7% Sales 15% Sales >20% • Global market • Modular and • Supply chain and • Increased and expansion scalable
Slide 28: Significant Opportunities for Lift Truck & Bolzoni
Significant Opportunities for Lift Truck & Bolzoni Achieve long-term targets, sustain performance, intensify cash flow focus REVENUE ADJUSTED OPERATING PROFIT MARGIN(1) ACHIEVE TARGETS $M 6,000 GDP++ 8% 7% Target • Modular, scalable products 6% • Industry-specific solutions 4% 4,000 • Pricing agilit
Slide 29: Accretive Capital Allocation Framework
Accretive Capital Allocation Framework Generating consistent cash flows at Lift Truck and Bolzoni and making disciplined investments Efficient Fixed Cost Effective Working Capital Productivity Utilization Capital Management Strong Operating Cash Flow Maintenance CapEx Routine Debt Service Nuvera Fun
Slide 30: Our Path to Long-Term Value Creation
Our Path to Long-Term Value Creation Rising core financial performance enhanced by fuel cell growth business FUTURE Revenue >$5B Working 2024 Capital Operating Profit & Margin Revenue Operating 15% $4.3B Profit >$350M / 7% Revenue 7% Sales Sales Growth Cash from Operations Adjusted Operating Profit
Slide 31: HY - A Solid Long-Term Investment Option
HY - A Solid Long-Term Investment Option Innovative, disciplined, long-term focused company • Venture / technology industry provides significant growth opportunities FUEL CELL • Next generation technology / patents in fuel cell BUSINESS • Building for the future • Focused on increasing revenues near
Slide 32: Overall Investment Thesis
Overall Investment Thesis Focused business portfolio and capabilities for long-term growth ATTRACTIVE GLOBAL MARKETS Support solid long-term growth potential in our 3 businesses TECHNOLOGY-ENABLED MATERIAL HANDLING SOLUTIONS Solving our customers’ most difficult problems HYDROGEN FUEL CELL SOLUTIONS
Slide 33: Lift Truck Business
Lift Truck Business Transforming the way the world moves materials from Port to Home.
Slide 34: Improved Lift Truck Business Financial Performance
Improved Lift Truck Business Financial Performance Diversified across regions and product classes LIFT TRUCK REVENUES UNIT REVENUE BY CLASS ADJUSTED OPERATING PROFIT MARGIN(1) ($B) 3.9 4.1 25% 3.4 Target 7% 2.7 2.9 Class 1 Electric 8% 6% 7.2% 5.9% 9% 4% Class 2 Electric 3.2% 2% 6% 0% 2020 2021 2022
Slide 35: Revenue Diversification
Revenue Diversification Full-line global lift truck manufacturer serving a broad group of end markets 2024 LIFT TRUCK SALES 2024 RETAIL LIFT TRUCK 2024 LIFT TRUCK BY PRODUCT UNIT REVENUE BY END MARKET(2) DISTRIBUTION CHANNEL MIX 7% 47% 27% 23% 23% 77% Service, Rental ICE(1) Retail and Food and Major
Slide 36: Global Lift Truck Industry
Global Lift Truck Industry Market linked to worldwide movement of all goods Industry Units by Class Global Lift Truck Industry Size* including China Americas EMEA Asia-Pacific China 6% 18% (units in thousands) Significantly above 2,341 Estimate** Class 1 Electric Class 2 Electric 2,400 CAGR (2014 –
Slide 37: Industry and HY Lift Truck Revenue
Industry and HY Lift Truck Revenue Diversified across regions and product classes Industry Unit Revenue by Region HY Unit Revenue by Region _____________________ Source: Company: FY 2024 Unit Estimated Industry Revenue 21% Revenue Mix EMEA Note: Units sold direct by SN JV _____________________ 4% ar
Slide 38: Growth Potential On Top of GDP+ Market
Growth Potential On Top of GDP+ Market Evolving capabilities align with market growth elements HY COMPETITIVE ADVANTAGES Evolutionary advantages enhance the core • Revolutionary shifts accelerate performance Technology to Enhance User Outcomes Revolutionary Robotics Modular, Scalable GDP++ Operator
Slide 39: Key Opportunities for Market Share Growth
Key Opportunities for Market Share Growth Leverage global capabilities to achieve share potential across markets LIFT TRUCK MARKET PENETRATION AMERICAS WAREHOUSE VS. INDUSTRIALS Total Market Size Total Market Size China(1) Market Growth Growth Opportunity Opportunity Americas EMEA JAPIC Warehouse In
Slide 40: Expanding Solutions Address Global Industry Requirements
Expanding Solutions Address Global Industry Requirements Enhancing competitive capabilities through product breadth, scalability and technology MODULAR / EMERGING BREADTH ELECTRIFICATION SCALABLE PLATFORM TECHNOLOGIES Image Simplifies operations; Rapidly adding electrification Complete product range
Slide 41: Core Product Strategy – Modular & Scalable Platforms
Core Product Strategy – Modular & Scalable Platforms Modular, Scalable, 2- to 3.5-ton ICE** The Right Truck, at the Right Price for the Right Application Truck Shipments Accelerating • 9 component modules; commonality enables design, assembly and parts synergies • Modules scale up/down with intercha
Slide 42: Solving Customers' Problems with Emerging Technologies
Solving Customers’ Problems with Emerging Technologies Innovations driving breakthrough results DATA ANALYTICS SMART MACHINES FULL AUTOMATION ZERO EMISSIONS Telemetry data helps Operator assist systems Robotic lift trucks lower (ZE) improve operator safety, help reduce incidents and labor costs, pro
Slide 43: WIN: Operator Assist Systems with Object Detection
WIN: Operator Assist Systems with Object Detection Ideal solution leads to new customer and business growth TARGETED CONQUEST CUSTOMER • Membership-only warehouse club store • ~ 600 stores in the U.S. and Puerto Rico • Customer serviced by competitor • Greenfield site looking to reduce costly incide
Slide 44: Major Electrification Projects
Major Electrification Projects Capitalizing on electric truck advancements where ICE* has traditionally dominated KEY PROJECTS Projects are helping customers meet port-equipment decarbonization regulations/requirements: • Currently operating electrified fuel cell materials handling equipment: ‒ Cont
Slide 45: Upcoming Product Launches
Upcoming Product Launches EXPECTED LAUNCHES IN H1 2025 • New modular 2- to 3.5-ton Pneumatic ICE* Standard & Value Configurations for Americas & EMEA regions • New modular 1-2.0 ton pneumatic and 1-3.5-ton cushion products for Americas & EMEA regions • New modular 2- to 3.5-ton electric counterbalan
Slide 46: HY's Automation Journey
HY’s Automation Journey Flexible solution to reduce labor costs and total cost of ownership ORIGINAL SOLUTIONS CUSTOMER SUCCESS 1 2 Generation 1 automated truck Generation 1 successful installation at options launched in 2016 large consumer goods customer site DETAILS • 505 trucks delivered • 83 uni
Slide 47: Leveraging Independent Distribution to Win
Leveraging Independent Distribution to Win Delivering exceptional customer experience while increasing capital efficiency • Differentiated AsOne value to customer Independent • OEM and dealer aligned business models DISTRIBUTION SYNERGY • Optimizes long-term strategy and agility Model • Exclusive, i
Slide 48: Lift Truck Business is the Core Platform for Delivering Value
Lift Truck Business is the Core Platform for Delivering Value Vehicle for high-margin solutions and service growth KEY TAKEAWAYS • Experienced, global market leader • Mature lift truck industry provides core platform for growth • GDP+ market growth with HY share upside potential • Strategically posi
Slide 49: Bolzoni Attachments
Bolzoni Attachments Transforming the way the world moves materials from Port to Home. Need a good Bolzoni photo on a Hyster truck
Slide 50: Bolzoni Attachments are Critical to Productivity Solutions
Bolzoni Attachments are Critical to Productivity Solutions Award-winning Attachment Business makes HY leading industry player Focused on serving lift truck OEMs* and other attachment customers using an industry approach and dealer collaboration *OEM: Original Equipment Manufacturer 50
Slide 51: Accelerating Financial Performance
Accelerating Financial Performance Diversified across regions and product classes NET SALES NET SALES BY PRODUCT LINE ADJUSTED OPERATING PROFIT MARGIN(1) ($M) 375 379 348 356 284 2% Lift Tables 8% Target 7% 6% 54% Attachments 4% 3.5% 4.1% 2% 2020 2021 2022 2023 2024 0.4% 1.7% 0% (0.5%) 7% (2%) Forks
Slide 52: Significant Global Growth Opportunities
Significant Global Growth Opportunities Leveraging high-quality products and deep industry experience GROWTH BOLZONI ATTACHMENT MARKET PENETRATION* AREAS OF FOCUS EXPANDING MARKET SHARE • Americas and JAPIC markets • Products well aligned with market segment needs Total Market Size • Increased sales
Slide 53: Driving Growth, Industry by Industry
Driving Growth, Industry by Industry Leveraging high-quality, respected brands and products in growth industries BEVERAGE HOME APPLIANCES PULP & PAPER AUTOMOTIVE & 3PL* Meyer Bolzoni Auramo Preferred supplier of high- Innovative double-pallet High-tech carton clamp Paper roll clamps performance rota
Slide 54: Product Development Focus Feeds Growth
Product Development Focus Feeds Growth Solving customers’ challenges through product and technological development FUTURE DEVELOPMENT Customer • AGVs growing in specific industries input: new handling- • Collaborating with AGV application manufacturers for integrated needs attachments Research & Sal
Slide 55: WIN: Multinational Consumer Electronics Retailer
WIN: Multinational Consumer Electronics Retailer Ideal solution leads to 60% reduction in TV damages TARGET CUSTOMER • Large consumer electronics retailer • 10 Distribution Centers (DC’s) and 100’s of store locations • Aged 375 carton clamp fleet; replace over 4-year period • Account served by compe
Slide 56: Clear Path to Achieving Profitability Goals
Clear Path to Achieving Profitability Goals Substantial opportunities to reach consistent profitability at target margin ADDRESSABLE MARKET PRODUCT MARGIN EXPANSION OEM TOP CUSTOMERS GROWTH • Increase in higher-margin, 5% • New attachment products Other OEM • Increase Americas and JAPIC technologica
Slide 57: Bolzoni, a Strategic Multiplier for HY
Bolzoni, a Strategic Multiplier for HY Disciplined execution and Sell to operational Working Everyone; efficiencies capital and deepen and cash diversify improvements KEY TAKEAWAYS relationships focus • Expanding market presence Developing outside Europe Enhance HY ENHANCES market future talent HY V
Slide 58: Nuvera Fuel Cells
Nuvera Fuel Cells Transforming the way the world moves materials from Port to Home.
Slide 59: Hydrogen-Fueled Solutions Are A Competitive Advantage
Hydrogen-Fueled Solutions Are A Competitive Advantage in Key Heavy-Duty Applications Nuvera Fuel Cells makes HY a leading player in zero-emission power products Focused on fuel cell engines and systems for high-power, high duty- cycle vehicle applications and energy systems. Fuel cell adoption has h
Slide 60: Long-Term Market is Immense, Adoption Rate has Slowed
Long-Term Market is Immense, Adoption Rate has Slowed Nuvera Fuel Cells focused on scalable products capable of broad market applicability End-markets (estimated for 2030) • Market growth behind Material handling expectations due to Applications Market size $0.3b Nuvera hydrogen infrastructure Produ
Slide 61: Hydrogen Availability Increasing; Remains an Industry Bottleneck
Hydrogen Availability Increasing; Remains an Industry Bottleneck Demand growth has outpaced current availability GLOBAL HYDROGEN SUPPLY PROJECTS ANNOUNCED AS OF OCTOBER 2023 ($B) • Hydrogen / fuel cells seen by governments across the world as key element ~$570B of projects of path to decarbonization
Slide 62: Focusing on Growth Opportunities in Target Markets
Focusing on Growth Opportunities in Target Markets Increasing number of applications worldwide STATIONARY & PORT VOCATIONAL OFF-ROAD & MARINE PORTABLE EQUIPMENT TRUCKS SPECIALTY • Stationary Power • Terminal Tractor • Water Taxi • Refrigerated • Wheel Loader • Power Generator • Reach Stackers • Mari
Slide 63: Nuvera Fuel Cell Engines: Major Engagements/Projects
Nuvera Fuel Cell Engines: Major Engagements/Projects Nuvera in the field Operational Nuvera® engines PORT EQUIPMENT ON/ OFF-ROAD MARINE Top Loader Reachstackers Terminal Tractor 10.5m Bus Wheel Loader Marine Power Pack E-45 twin (U.S.) E-45 twin (Germany/Spain) E-45 (Germany) E-60 twin (Netherlands)
Slide 64: Nuvera Fuel Cells: Near Term
Nuvera Fuel Cells: Near Term PATH FORWARD • Mobile power generation appears to have the greatest opportunity for near term commercial application • A number of applications in which diesel or battery power generation will not work effectively • Hydrogen can be available for many of their application
Slide 65: Nuvera Fuel Cells is a Strategic Multiplier for HY
Nuvera Fuel Cells is a Strategic Multiplier for HY Step change in emission-free powertrain solutions KEY TAKEAWAYS • Clean power source for 20+ applications today • HY Lift Trucks successfully electrified 4 HD models with Nuvera® Fuel Cells • Expanding fuel cell engine portfolio & services • Increas
Slide 66: Appendix
Appendix
Slide 67: Reconciliations
Reconciliations Working capital percentage of sales, Return on total capital employed, Adjusted EBITDA, Adjusted operating profit (loss) and Adjusted net income (loss) are not measurements under U.S. GAAP, should not be considered in isolation or as a substitute for GAAP measures, and are not necess
Slide 68: Reconciliations of Adjusted Operating Profit (Loss) and Adjusted Net Income (Loss)
Reconciliations of Adjusted Operating Profit (Loss) and Adjusted Net Income (Loss) ($M) LIFT TRUCK(1) BOLZONI(1) NUVERA(1) CONSOLIDATED Operating profit (loss) $45.3 $(4.4) $(8.3) $32.3 Restructuring and impairment charges $16.8 $4.3 $0.3 $21.4 Q4 2024 Adjusted operating profit (loss) $62.1 $(0.1) $
Slide 69: Reconciliations of Adjusted Operating Profit (Loss) and Adjusted Net Income (Loss) continued
Reconciliations of Adjusted Operating Profit (Loss) and Adjusted Net Income (Loss) continued HY LIFT TRUCK ($M) 2021 2021 Operating profit (loss) $(152.3) $(86.9) Impairment charges(1) $81.7 $55.6 Adjusted operating profit (loss) $(70.6) $(31.3) Net income (loss) $(173.0) Impairment charges(1) $70.0
Slide 70: Working Capital Percentage of Sales Calculation
Working Capital Percentage of Sales Calculation 2020 2021 2022 2023 2024 Accounts receivable $412.1 $457.4 $523.6 $497.5 $488.4 Inventory 509.4 781.0 799.5 815.7 754.3 Accounts payable (428.1) (541.4) (607.4) (530.2) (455.5) Net Working Capital(1) $493.4 $697.0 $715.7 $783.0 $787.2 Consolidated Reve
Slide 71: Reconciliation of ROTCE
Reconciliation of ROTCE ($M) 2020(1) 2021(1) 2022(1) 2023(1) 2024(1) Average Stockholders' Equity $554.5 $525.5 $241.9 $288.9 $454.4 Average Debt 310.3 373.4 535.2 532.2 476.0 Average Cash (83.4) (93.8) (66.8) (69.3) (75.9) Average capital employed 781.4 805.1 710.3 751.8 854.5 Net Income (loss) 37.
Slide 72: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA ($M) Year Ended December 31 Qtr. Qtr. Consolidated 2020 2021 2022 2023 2024 12/31/24 12/31/23 Reconciliation of Adjusted EBITDA Net income (loss) attributable to stockholders $37.1 $(173.0) $(74.1) $125.9 $142.3 $10.3 $25.2 Noncontrolling interest income and dividen
Slide 73: Reconciliation of Adjusted EBITDA continued
Reconciliation of Adjusted EBITDA continued ($M) Year Ended December 31 Qtr. Bolzoni 2020 2021 2022 2023 2024 12/31/24 Reconciliation of Adjusted EBITDA Operating profit (loss) $1.0 $(1.8) $6.2 $15.3 $9.1 $(4.4) Other income (expense) - 0.5 0.3 (0.5) - (0.2) Depreciation and amortization expense 11.
Slide 74: Supplemental Information
Supplemental Information
Slide 75: Disciplined Capital and R&D Expenditures
Disciplined Capital and R&D Expenditures C A P I TA L E X P E N D I T U R E S R&D EXPENDITURES ($M) ($M) Lift Truck IT Systems Nuvera Bolzoni 160 4% 85 Bolzoni 65 Range 120 Nuvera 45 80 2% Lift Truck 25 40 R&D % of 5 Revenues -15 2021 2022 2023 2024 Low Est. High Est. 0 0% 2025 2025 2020 2021 2022 2
Slide 76: HY Lift Truck Revenue by Geography & Class – Quarter & FY 12/31/24
HY Lift Truck Revenue by Geography & Class – Quarter & FY 12/31/24 HY Q4 ’24 Lift Truck Unit Revenue by Geography HY Q4 ‘24 Lift Truck Unit Revenue by Class EMEA 4% Class 1* 19% Asia-Pacific / Japan Class 5* 26% 46% 1% China Class 2* 9% 6% Americas _____________________ Class 4* Class 3* Source: Com
Slide 77: HY Dealer Data
HY Dealer Data Hyster® Yale® Dual Brand Maximal* Total Dealers Owners Locations Owners Locations Owners Locations Owners Locations Owners Locations December 31, 2024 Americas 9 82 12 64 30 263 16 16 67 425 EMEA 59 139 42 85 16 24 18 22 135 270 JAPIC 71 107 9 26 5 20 42 69 127 222 Total 139 328 63 17