Slide 1: TAT Technologies Corporate Presentation - June 2011
TAT Technologies Corporate Presentation - June 2011
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may contain certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Generally, the words “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “
Slide 3: TAT Group - Business Card
TAT Group - Business Card • World leader in design, manufacturing and maintenance of aviation components • Vast international operation in its operating businesses: ü Heat Management Solutions • Design and Manufacturing (OEM) • Maintenance, repair and overhaul (MRO) ü MRO Services of aviation compon
Slide 4: TAT Group - Business Card
TAT Group - Business Card • Traded on NASDAQ (TATT) since 1987 and on TASE since 2005 • Balance operations - Commercial/Defense; OEM/MRO; By Geography • Revenues in FY2010: $80M’ in Q1/2011: $21M’ • Cash - $36M’ (as of March 31, 2011) ; Cash net of debt - $26M’ (as of March 31, 2011) • Shareholders’
Slide 5: TAT Group - Recent Developments
TAT Group - Recent Developments Highlights • Anti Icing valves for U.S. Army Helicopters - approximately $20M’ over 5 years • New MRO contracts for Piedmont and Limco - Austrian Airlines, Delta, Allicance • F35 heat exchanges for Lockheed Martin and Hamilton Sundstrand • F16 TPU MRO for Honeywell •
Slide 6: TAT Group - Ownership Structure
TAT Group - Ownership Stracture 43% 70% 100% 100% 40%* 10% 80% Traded on TASE Traded on TASE/NASDAQ * Affiliated company: Revenues in FY2011 - approximately $120M’
Slide 7: TAT Group - Senior Management
TAT Group - Senior Management Rimon Ben Shaul - Chairman of the Board • In position since April 2011 • Board member in Nice Systems, Mind CTI • Prior experience : CEO - Polar Communication CEO - Clal Industries and Investments Dr. Shmuel Fledel - CEO • In position since May 2008 • Prior experience:
Slide 8: TAT Group - Global Presence
TAT Group - Global Presence Distribution Centers (FAvS) MRO; OEM Distribution OEM; MRO Engineering center Production lines
Slide 9: Respective Customer Base
Respective Customer Base OEM Air Lines Service centers Air Forces
Slide 10: Balanced operation - by Geography; by Industry
Balanced operation - by Geography; by Industry Break down of FY 2010 revenues - 80M$ (Percentages are rounded)
Slide 11: Capabilities and Expertise
Capabilities and Expertise Authorized Repair Station • Honeywell • Hamilton • Hartzel Certifications • AS 9100 • ISO 9001 • Preferred Supplier in: Boeing, Lockheed Martin • Aviation Authorities Certifications: (FAA, EASA, DGAC, Thai, CAAV
Slide 12: Strategy - Organic Growth and M&A
Strategy - Organic Growth and M&A • Organic growth in core businesses - Heat Management Solutions ü Enter new platforms - Aviation and Ground ü Move up the value chain - from products to systems ü Expand MRO capabilities for new heat exchange products ü Penetrate additional countries ü Enhance joint
Slide 13: Heat Management Solutions - OEM
Heat Management Solutions - OEM Bombardier CRJ Cessna Citation Piper Jet Boeing 747 ATR Airbus A340 Boeing 767 Boeing 777 V-22 F-16 Boeing 737 Commercial Defense
Slide 14: Heat Management Solutions - OEM
Heat Management Solutions - OEM Heat Management Solutions Systems/Sub Systems New Cold Plates for Electronic Systems After Market MRO of Heat Exchangers Developing Heat Exchangers for new Aviation/Ground platforms
Slide 15: Electrical Motion Solutions - OEM
Electrical Motion Solutions - OEM New Actuators Electric APU Growth Engines
Slide 16: Freon Cooling Systems - OEM
Freon Cooling Systems - OEM Armor Vehicles New Platforms Joint ventures Growth Engines
Slide 17: Maintenance Repair and Overhaul
Maintenance Repair and Overhaul Landing Gear - New Models APU - New Models Growth Engines
Slide 18: Aviation Market - trends
Aviation Market - trends
Slide 19: Market Trends - All Regions are Growing
Market Trends - All Regions are Growing Source: Airbus 2011
Slide 20: Market Trends - Demand for Air Travel Expects to Increase
Market Trends - Demand for Air Travel Expects to Increase Source: Airbus 2011
Slide 21: Market Trends - Air Fleets Expect to Grow
Market Trends - Air Fleets Expect to Grow Source: Embraer 2011
Slide 22: Financial Highlights
Financial Highlights
Slide 23: Constant Growth in Revenues
Constant Growth in Revenues PPS * PPS * PPS * PPS * * Commencing FY2010 - without Parts services and Propellers MRO businesses which were contributed to FAvS
Slide 24: Strong & Solid Financials - P&L
Strong & Solid Financials - P&L Q1/2011 • 2009 - Reorganization • 2010 - presented after adjusting one time events (Non GAAP) - (i) $3.5M’ Inventory write down; (ii) $4.2M’ Impairment of Goodwill and Intangibles; (iii) $3.0M’ Write down on investment in FAvS, net of tax.
Slide 25: Strong & Solid Financials - Balance Sheet
Strong & Solid Financials - Balance Sheet Q1/2011
Slide 26: Summary
Summary • World leader in design, manufacturing and maintenance of aviation components • Experienced management team • Growing markets • Strong, stable, tier one customers • Balance operations - Commercial/Defense; OEM/MRO; By Geography • Long term engagement with many of its customers • Strong, sol
Slide 27: TAT
TAT Technologies Ss Vd When it comes to Heat Transfer, nothing is too hot for us. P