Visteon Corporation · NASDAQ:VC
Visteon — Citi Global Industrials Conference 2012
27 slides from Visteon's conference presentation, Sep 19, 2012
Slide 1: Visteon: Actions to Deliver Value
Visteon Tim 2012 September Strictly Leuliette Citi Private Actions Global 19, 2012 and toIndustrials Deliver Confidential Value Conference
Slide 2: Today We Will Summarize Visteon's Value Creation Actions
Today2We Summarize Provide Visteon Page is historic Sharply Will Visteon andFocused at recent a glance context on Creating for today’s Value for presentation Our Shareholders Offer a value-creating action plan for each key business and JV Address priorities for uses of cash Discuss lump sum pension
Slide 3: Visteon at a Glance
Visteon Global 2011 (Dollars Adjusted % Debt Headcount Key Climate $4.1 Interiors Yanfeng $1.7 Global, Sales Unconsolidated Page Margin Businesses Billion 3/Key EBITDA auto manufacturing Strategically at Electronics in Visteon Sales EBITDA Financials 9.8% aMillions) 25,650 supplier Glance $1.4 $6.3
Slide 4: Visteon: An Asian-Centric Company
Visteon: Consolidated Including 34% 43% 17% North South America Visteon 66% Pacific Asia 21% Europe 10% Page 4America 6% Note: isAn 3% Non-Consolidated anAsian-Centric Asian-Centric Represents Q2Company Company, 2012 YTD.with European Operations, and Limited North American Presence
Slide 5: A Valuable Customer Base We Serve
A Valuable We Page are 5 Proud Customer of the Customers Base We Serve and Will Act Only in Their Best Interests
Slide 6: Sales Profile by Product Line and Customer
Sales1% Consolidated Electronics Product 18% Line Interiors 20% Other 38% Climate 22% Hyundai GM Mazda JLR Customer PSA Renault Nissan 27% Total Page 2% 5% Interiors Other Nissan 6Sales Profile 2% 9% /Climate 32% JLR PSA /GM VW Kia Ford Hyundai $3.4 15% 8% –2% Including 4% 60% 7% 22% 2% Six VW Billi
Slide 7: Historical Context: Three-Year Transformation
Historical Three-Year Spin-OffSpin-Off tradedtraded y geographic manufacturingmanufacturing leasedleased 2000 ACH 23 returned UAW legacy Ford restructuring business Several Page BecameBecame y$$ North SignificantSignificant 19+19+ support 72005 Transaction workforce liabilities Significant to March
Slide 8: Strategic Cornerstones of Focused Strategy
Strategic Base Provide Share – Focused Page No 8strategic Core Financial Must Capable Lean, Focused, smaller price strengths have fast, customers on Cornerstones ofminimal performance Continued hungry presence weathering than decisions must #3 with overhead and inwhere include Strategy relevant well
Slide 9: Visteon: Focused Business Portfolio Plan
Visteon: 70% Contribute Establishes 60% Group” Climate exited Consolidation one Headquartered presence by Visteon Focused Transfer make Core Target is Corporate Minimal Staff Rothschild Page exiting international has 100% YFV businesses 9business at transaction (HVCG) been Visteon is Interiors entit
Slide 10: Halla-Visteon Climate: A World-Class Climate Organization
Halla-Visteon Clear Customer-focused balance A Page World-Class 10 #2sheet global and Climate Climate Climate cash solutions Group flow Organization player, profile provider – The withSignificant Gold 13% withStandard market worldwide three-year sharepresence backlog Leading Gaining product shareand
Slide 11: Halla Climate Combination Benefits
Benefits Creates Combines Earnings Broader Maintains Halla-Visteon Opportunity Combination Page 11 #2 manufacturing to accretive atwo global Halla strong for of well financially operational Operationally Climate Climate /positioned conservative footprint attractive player, improvement for Linked bal
Slide 12: Benefits to Visteon Shareholders
Benefits Achieves Aligns and Value Pageoperational 12 Enhancing Halla tolong-term Visteon andflexibility Visteon’s forobjective Visteon for climate Shareholders climate of consolidating businesses’ segment Visteon’s Opportunity operating Climate structures to realize operations Better intrinsic serv
Slide 13: Climate Product Overview
Climate Product EBITDA Global Headcount Position Consolidated Mfg Unconsolidated 2011 By Other SA 21% VW Mazda1% Chrysler Suzuki EU Key 24% Ford 25% Go Business Strategic #2 Page in Customer Forward 56% 1% Products Facilities 17% 13 Sales Consolidated the NA Mkt 1% Line Product Note: Hyundai 1% Worl
Slide 14: Interiors Product Overview
Interiors Product EBITDA Global Headcount Position Consolidated Mfg Unconsolidated 2011 By 14% AP Other GM 3% 21% SA 5% VW PSA Key 24% Go Business New Maintain technological Capitalize Strategic Sale consolidated Currently PageCustomer Forward 30% Renault Products or Facilities 61% Nissan EU Ford le
Slide 15: Electronics Product Overview
Electronics Product EBITDA Global Headcount Position Consolidated Mfg Unconsolidated 2011 By Other SA 22% Mitsubishi Ford 17% 4% JLR Mazda Nissan 7% Key 14% Instrument OEM Electronic Go Business Continue technologies Maintain Strategic Optimize the Address shareholders PageCustomer most Forward Tier
Slide 16: Yanfeng Overview
Yanfeng Overview ??Established ??Unconsolidated – of ??30% Visteon Huayu Corporation 100% (HASCO) YFV Interiors VC Indirect Direct Effective Total Ford Japan 34% Export Concentration Other SAIC SGM Valuable Page Interiors, $6.3 Ownership 5% 16 YFV Business 28% 9% China /4% 60% Varied sales & Korea b
Slide 17: Uses of Cash
Uses 17 Increase Meet Maintain Share Debt Invest Mandatory Shareholder Visteon Page reduction of pension, buyback inVisteon Will strong Business / improve Obligations Returns Use debt market Cash Cash and current to positions other Invest leverage obligations in / competitive the profile Business, a
Slide 18: Visteon Announces Lump Sum Pension Settlement Offer
Visteon On This Eligible Election A – Lump Page To Total Represents one-time, September be program 18 Sum charge funded Announces participants Window Settlements non-cash nearly will will 19, with scheduled reduce 2012, depend Defined 10,000 pension will year-end Provide Visteon be Visteon upon of g
Slide 19: Defining Success: Milestones
Defining Contribute Provide Sell Address Monetize Rightsize Page Interiors 19 Visteon Electronics’ Success YFV, corporate Climate business over shareholders Milestones business functions time…and strategyto“optionality” and inHalla, at response global rightcreate value position toinactions HVCG HVCG
Slide 20: Appendix
Strictly Private and Confidential Appendix
Slide 21: Forward-Looking Information
Forward-Looking This Forward-looking uncertainties including, times credit Our Conditions customers, suppliers work due New assumptions, currency General restructurings, Increases obligations; liability Those Caution of Page this to ability presentation business 21 stoppages and agreements; factors
Slide 22: Use of Non-GAAP Financial Information
Use of22Non-GAAP Because companies. Page notThe all companies reconciliations Financial useInformation identical include all calculations, informationAdjusted reasonably Sales available and Adjusted to the Company EBITDA used at thethroughout date of thisthis presentation presentation andmay the not
Slide 23: Reconciliation of Adjusted EBITDA
Reconciliation Less: 2011 (Dollars Net Interest Loss Provision Depreciation Restructuring Equity Other Discontinued Adjusted The eliminate items, Pagesales, Income Company on 23 2012 Discontinued Duckyang non-recurring and investment expense, debt inEBITDA Sales sales the for products other Millions
Slide 24: Reconciliation: Climate
Reconciliation 2011 Climate (Dollars Gross Product SG&A Employee Exclude % Equity Non-Controlling Adjusted Page of Adjusted 24 2012 Margin inLine Sales D&A inEBITDA Gross SG&A Affiliates Severance Millions) Specific $4,053 $351 194 Sales ofMargin ($187) (187) Interests Climate 43 (excl. $300 3$89 8.
Slide 25: Reconciliation: Interiors
Reconciliation 2011 Interiors (Dollars Less: Gross Product SG&A Employee D&A % Duckyang Equity Non-Controlling Adjusted Page of Adjusted 25 2012 Duckyang 41 Margin inLine Sales in 8EBITDA Sales Gross SG&A D&A Affiliates, Severance Gross SG&A D&A EBITDA 8Millions) Specific $2,285 $139 Sales of $1,696
Slide 26: Reconciliation: Electronics
Reconciliation 2011 Electronics (Dollars Gross Product SG&A Employee Exclude % Equity Non-Controlling Adjusted Page of Adjusted 26 2012 Margin inLine Sales D&A inEBITDA Gross SG&A Affiliates Severance Millions) Specific $1,367 $128 45 Sales ofMargin ($86) (86) Interests Electronics 10$126 (excl. 22
Slide 27: Visteon
www.visteon.com