Slide 1: Safe Harbor Statement
Safe Harbor Statement Any “forward-looking” statements contained herein, including those relating to market conditions or the Company’s financial condition and results, expense reductions, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including, but not li
Slide 2: Agenda
Agenda Opening Remarks Financial Highlights Segment Highlights Outlook and Summary Questions and Answers Appendix 3
Slide 3: Opening Remarks – First Quarter Results
Opening Remarks – First Quarter Results Stronger than expected top-line performance – Sales up 22.5% vs. Q1 2010 Continuing to gain market share in several businesses Investments in new products and markets showing results 2010 bolt-on acquisitions meeting or exceeding expectations Improvements in e
Slide 4: Opening Remarks – Going Forward
Opening Remarks – Going Forward Achieved or announced increased pricing to offset commodity inflation Recent trip to Brazil – increased focus on business development in faster growing geographies and emerging markets Global Sourcing Organization gaining traction and driving results Intensified focus
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Slide 6: First Quarter Summary
First Quarter Summary Sales increased 22.5% vs. Q1 2010 Double-digit percentage sales increases in Energy, Engineered Components and Cequent North America Continued to gain additional market share in several businesses, while investments in new products and markets showing results Productivity effor
Slide 7: Significant Sales Growth During Q1
Significant Sales Growth During Q1 Q1 2010 Q1 2011 Broad range of future growth opportunities across all segments. 8 $220.1 M $269.7 M Packaging Aerospace & Defense Energy Engineered Components Cequent N. America Cequent Asia Pac Market share gains New product launches Market recovery Market recover
Slide 8: 2011 Key Growth Initiatives
2011 Key Growth Initiatives New specialty dispensing systems for consumer applications Growth in Asian markets New branch ramp-up (U.S. and non-U.S. based) Growth in specialty gaskets and bolts New aircraft development and production ramp-up Global sales expansion Additional products for composite a
Slide 9: Operating Profit Margins
Operating Profit Margins Q1 2010 Q1 2011 11.1% Committed to continually expanding our margins. 10 11.4% Volume Leverage Productivity and Lean Initiatives Price Sales Mix Commodity Inflation Investments in Future Growth & Productivity
Slide 10: Working Capital
Working Capital Lean initiatives continue to drive permanent process change and working capital reductions. 11 Comments: Q1 2011 operating working capital at 17.3% of sales vs. 17.5% in Q1 2010 Significant growth and global expansion adds complexity to the supply chain Long-term target remains appro
Slide 11: Capitalization
Capitalization As of March 31, 2011, TriMas had $156.4 million of cash and available liquidity under its revolving credit and receivables facilities. 12 5.00 x x 5.00 x 4.75 Maximum Leverage Ratio 2.30 x x 2.00 x 2.00 Minimum Interest Coverage Ratio Bank Covenants: 3.69 x x 3.06 x 3.01 Leverage Rati
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Slide 13: Packaging
Packaging Results: Q1 2011 sales were relatively flat due to improved demand for industrial closures, offset by a decline in specialty dispensing sales Excluding $3.7 M of specialty dispensing H1N1-related sales in Q1 2010 that did not recur in Q1 2011, Q1 2011 sales would have increased 10% Gross p
Slide 14: Energy
Energy ($ in millions) Results: Sales increased due to improved demand for specialty gaskets and fasteners, incremental sales from newer branch facilities and the acquisition of South Texas Bolt & Fitting (STB&F) The results generated by the acquisition of STB&F are exceeding expectations Operating
Slide 15: Aerospace & Defense
Aerospace & Defense Key Initiatives: Expand aerospace fastener product lines to increase content and applications per aircraft Drive ongoing lean initiatives to lower working capital and reduce costs Leverage and further develop existing defense customer relationships Consider complementary bolt-on
Slide 16: Engineered Components
Engineered Components ($ in millions) Key Initiatives: Expand complementary product lines at well-site and grow natural gas compression products Capitalize on shale and natural gas opportunities Develop additional capabilities of cylinder business to capture new markets Continue to reduce costs and
Slide 17: Cequent (Asia Pacific & North America)
Cequent (Asia Pacific & North America) ($ in millions) $46.4 Results: Q1 sales in North America improved due to increased sales within the retail, original equipment, aftermarket and industrial channels North American operating profit improved substantially with a margin improvement of 100 bps Asia
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Slide 19: Strategic Aspirations
Strategic Aspirations High single-digit top-line growth Earnings growth faster than revenue growth 3% to 5% of total gross cost productivity gains annually – utilize savings to fund growth Invest in growth programs that deliver new products, new markets and expanded geographies Increase revenues in
Slide 20: 2011 Outlook
2011 Outlook As of 2/28/11 As of 4/28/11 Sales Growth 6% to 9% 8% to 11% Earnings Per Share, diluted $1.40 to $1.50 $1.45 to $1.60 Free Cash Flow(1) $50 to $60 million $50 to $60 million (1) 2011 Free Cash Flow is defined as Cash Flow from Operating Activities less Capital Expenditures. 2011 Outlook
Slide 21: Summary
Summary Executing in faster growing end markets with successful start to emerging market initiatives Continued leverage of new cost structure will drive earnings growth...2-3x sales growth Stay ahead of commodity inflation Robust cash generation while investing in growth Continued focus on productiv
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Slide 24: Condensed Balance Sheet
Condensed Balance Sheet (Dollars in thousands) 25 March 31, December 31, 2011 2010 Assets (unaudited) Current assets: Cash and cash equivalents 14,910 $ 46,370 $ Receivables, net of reserves 159,850 117,050 Inventories 164,640 161,300 Deferred income taxes 28,240 34,500 Prepaid expenses and other cu
Slide 25: Statement of Operations
Statement of Operations (Unaudited, dollars in thousands) 26 Three months ended March 31, 2011 2010 Net sales 269,670 $ 220,060 $ Cost of sales (194,990) (157,000) Gross profit 74,680 63,060 Selling, general and administrative expenses (44,710) (37,700) Gain (loss) on dispositions of property and eq
Slide 26: Company and Business Segment Financial Information – Cont. Ops
Company and Business Segment Financial Information – Cont. Ops (Unaudited, dollars in thousands) 27 Three months ended 2011 2010 Packaging Net sales $ 43,900 $ 43,600 Operating profit $ 11,830 $ 11,860 Energy Net sales $ 40,950 $ 32,320 Operating profit $ 5,340 $ 4,190 Aerospace & Defense Net sales
Slide 27: LTM EBITDA as Defined in Credit Agreement
LTM EBITDA as Defined in Credit Agreement (Unaudited, dollars in thousands) 28 Reported net income for the twelve months ended March 31, 2011 $ 51,590 Interest expense, net (as defined) 50,110 Income tax expense 22,080 Depreciation and amortization 37,860 Non-cash compensation expense 2,560 Other no