Gentherm Inc · NASDAQ:THRM
Gentherm — Q3 2023 Earnings Presentation
12 slides from Gentherm's earnings presentation, Oct 26, 2023
Slide 1: 2023 Third Quarter Results
Proprietary © Gentherm 2023 2023 Third Quarter Results October 26, 2023 Exhibit 99.2
Slide 2: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures* In addition to the results reported herein in accordance with GAAP, the Company has provided here or may discuss on the related conference call Adjusted Operating Expense, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EPS, Free Cash Flow, Net Debt, organic rev
Slide 3: Forward-Looking Statement
Forward-Looking Statement Proprietary © Gentherm 2023 Except for historical information contained herein, statements in this presentation are forward-looking statements that are made by Gentherm Incorporated (the “Company”) pursuant to the safe harbor provisions of the Private Securities Litigation
Slide 4: Automotive Highlights
Automotive Highlights Record quarterly revenues for Climate Control Seat and Steering Wheel Heaters 16 Vehicle launches with 8 OEMs Multiple CCS® Launches BMW 5 series, Chevrolet Equinox EV, Great Wall Mecha Dragon, Hongqi eH5, Xpeng G9 EV Proprietary © Gentherm 2023 4 ClimateSense® won the 2023 Aut
Slide 5: New Automotive Business Awards
New Automotive Business Awards $520M in awards in 3Q; a 3Q record Steering Wheel Heater awards across 8 OEMs including hands-on-detection enabled heater award with Audi, BMW, General Motors, Honda, Hongqi and Volvo 10 Multiple CCS® Awards from: Ford | General Motors | HKMC | Li Auto Mazda | Stellant
Slide 6: Medical Highlights
Medical Highlights Leveraging partnerships for revenue growth while focusing on improving returns Proprietary © Gentherm 2023 6 10% Revenue up 10 percent year over year 20 new major hospital customers added in China Awarded contract extensions with Premier and Vizient, two of the largest Group Purch
Slide 7: Select Income Statement Data
(Dollars in thousands, except per share data) 2023 2022 Pro forma 2022 (1) 2023 2022 Pro forma 2022 (1) Product Revenues $ 366,195 $ 332,962 $ 352,877 $ 1,102,143 $ 861,334 $ 1,004,974 Automotive 354,782 322,555 342,470 1,069,007 829,570 973,210 Medical 11,413 10,407 33,136 31,764 Gross Margin 86,21
Slide 8: Select Balance Sheet Data
Select Balance Sheet Data September 30, 2023 June 30, 2023 December 31, 2022 December 31, 2022 December 31, 2022 Cash and Cash Equivalents $ 154,354 $ 153,891 Total Assets 1,225,597 1,239,300 Debt 207,922 235,096 Current 620 2,443 Non-Current 207,302 232,653 Revolving LOC Availability 293,000 264,90
Slide 9: 2023 Guidance
Proprietary © Gentherm 2023 9 2023 Guidance 2022 A 2022 Pro forma(4) Prior 2023 E 2023 E Product Revenue (1)(2) $1.2B $1.3B $1.45B - $1.55B $1.45B - $1.47B Adjusted EBITDA Margin (1)(2)(3) 11.4% 10.4% 11.5% – 13.5% 11.5% – 12.5% Adjusted Effective Tax Rate (5) 36% 28% - 32% 28% - 32% Capital Expendi
Slide 10: Appendix
Appendix Proprietary © Gentherm 2023
Slide 11: Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin
Proprietary © Gentherm 2023 11 Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin (Dollars in thousands) 2023 2022 2023 2022 Net Income $ 15,844 $ 9,827 $ 22,256 $ 28,646 Add Back: Income Tax Expense 6,908 5,784 15,478 13,998 Interest Expense (Income), net 3,368 (714 ) 9,444 1,285 Deprecia
Slide 12: Reconciliation of Adjusted EPS
Proprietary © Gentherm 2023 12 Reconciliation of Adjusted EPS 2023 2022 2023 2022 Diluted EPS - As Reported $ 0.48 $ 0.29 $ 0.67 $ 0.86 Acquisition and Integration Expenses 0.05 0.34 0.14 0.55 Non-Cash Purchase Accounting Impacts 0.05 0.08 0.17 0.19 Unrealized Currency (Gain) Loss (0.03 ) 0.16 0.13