O-i Glass, Inc. · NYSE:OI
O-i Glass — Owens Illinois — Q3 2008 Earnings Presentation
11 slides from O-i Glass's earnings presentation, Oct 30, 2008
Slide 1: O-I Earnings Call Additional Information 3rd Quarter ended September 30, 2008
O-I Earnings Call Additional Information 3rd Quarter ended September 30, 2008
Slide 2: Debt Maturity Schedule as of September 30, 2008
October 30, 2008 3Q 2008 Earnings Call Additional Information 1 • BCA Revolver availability is $745MM • Leverage Ratio is 1.9x (Total Debt to LTM Bank Credit Agreement EBITDA) • Interest Coverage Ratio is 5.2x (LTM Consolidated Segment Operating Profit to LTM Interest Expense) • 59% Variable / 41% F
Slide 3: Free Cash Flow
October 30, 2008 3Q 2008 Earnings Call Additional Information 2 Free Cash Flow 1 Free Cash flow equals cash provided by continuing operating activities less capital spending for continuing operations. 2008 2007 $ Millions 2008 2007 78.6 $ 1,156.5 $ Net earnings 488.0 $ 1,359.4 $ - (1,080.9) Gain fro
Slide 4: Free Cash Flow Nine Month Comparison
October 30, 2008 3Q 2008 Earnings Call Additional Information 3 306 252 20 209 74 23 86 63 296 0 100 200 300 400 500 600 700 FCF 3Q YTD07 Consolidated Segment Operating Profit Depreciation & Amortization Change in Working Capital Capex Restructuring Payments Asbestos Related Payments Other Operating
Slide 5: Foreign Currency Exchange Rate Changes
October 30, 2008 3Q 2008 Earnings Call Additional Information 4 Foreign Currency Exchange Rate Changes FX Translation Impact on Sales, Segment Operating Profit and EPS 2007 $ Millions except EPS 1Q 2Q 3Q 4Q Year 1Q 2Q 3Q Sales 79 $ 92 $ 108 $ 171 $ 450 $ 186 $ 202 $ 82 $ Segment Operating Profit 8 1
Slide 6: Net Sales Reconciliation
October 30, 2008 3Q 2008 Earnings Call Additional Information 5 Net Sales Reconciliation $ Millions 1H 3Q YTD 2007 segment sales 3,625 $ 1,913 $ 5,538 $ Sales volume (173) (146) (319) Price and product mix 273 149 422 Currency translation 388 82 470 Total reconciling items 488 85 573 2008 segment sa
Slide 7: Segment Operating Profit Reconciliation
October 30, 2008 3Q 2008 Earnings Call Additional Information 6 Segment Operating Profit Reconciliation $ Millions 1H 3Q YTD 2007 Segment Operating Profit 508 $ 299 $ 807 $ Sales volume (42) (33) (75) Price and product mix 273 149 422 Manufacturing and delivery (152) (144) (296) Operating expenses (
Slide 8: EPS Reconciliation
October 30, 2008 3Q 2008 Earnings Call Additional Information 7 EPS Reconciliation 1H 3Q YTD 1.18 $ 0.78 $ 1.95 $ Sales volume (0.18) (0.14) (0.32) Price and product mix 1.17 0.65 1.82 Manufacturing and delivery (0.66) (0.63) (1.29) Operating expenses (0.02) - (0.02) Retained corporate costs & other
Slide 9: Reconciliation of GAAP to non-GAAP Items 3rd Quarter 2008 and 2007
October 30, 2008 3Q 2008 Earnings Call Additional Information 8 Reconciliation of GAAP to non-GAAP Items 3rd Quarter 2008 and 3rd Quarter 2007 $ Millions, except per share amounts Earnings EPS Earnings EPS Net earnings 78.6 $ 0.46 $ 1,156.5 $ 6.86 $ Less earnings from discontinued operations (9.0) (
Slide 10: Reconciliation of GAAP to non-GAAP Items Nine Months 2008 and 2007
October 30, 2008 3Q 2008 Earnings Call Additional Information 9 Reconciliation of GAAP to non-GAAP Items Nine Months 2008 and Nine Months 2007 $ Millions, except per share amounts Earnings EPS Earnings EPS Net earnings 488.0 $ 2.86 $ 1,359.4 $ 8.13 $ Less earnings from discontinued operations (2.8)
Slide 11: 2007 Reportable Segment Results
October 30, 2008 3Q 2008 Earnings Call Additional Information 10 2007 Reportable Segment Results 1 Amounts by segment from Note 21 to the 2007 financial statements (pgs. 92-93 of Form 10K) are presented in this table on a quarterly basis for historical reference. $ Millions 1Q 2Q 3Q 4Q Total1 Net Sa