Manitowoc Company, Inc. (the) · NYSE:MTW

Manitowoc Company, Inc. (the) — Q2 2023 Earnings Presentation

16 slides from Manitowoc Company, Inc. (the)'s earnings presentation, Aug 8, 2023

  1. Slide 1: Second-Quarter 2023 Earnings Conference Call

    Second-Quarter 2023 Earnings Conference Call August 8, 2023

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements Safe Harbor Statement Any statements contained in this presentation that are not historical facts are “forward-looking statements.” These statements are based on the current expectations of the management of the Company, only speak as of the date on which they are made and

  3. Slide 3: Second-Quarter 2023 Highlights

    Second-Quarter 2023 Highlights $60M 10% $150M $603M Adjusted Adjusted Non-New Net Sales EBITDA EBITDA Machine Sales Margin Up Up Up Up 21% 65% 270 bps 8% Y/Y Y/Y Y/Y Y/Y STRONG REVENUE AND ADJUSTED EBITDA; CRANES+50 STRATEGY ON TRACK 3

  4. Slide 4: Non-New Machine Sales Growth Highlights

    Non-New Machine Sales Growth Highlights GREAT SUCCESS ON GROWTH STRATEGY 4

  5. Slide 5: Second-quarter The Manitowoc Way Highlights

    Second-quarter The Manitowoc Way Highlights Global kaizen – Baltar Energy kaizen project team – Moulins Digitalized pre-delivery inspection process -- Moulins Electrical department -- Charlieu Integrated new robotic mast welding -- Charlieu GLOBAL ADOPTION OF THE MANITOWOC WAY 5

  6. Slide 6: Second-quarter The Manitowoc Way Highlights -- China

    Second-quarter The Manitowoc Way Highlights -- China GLOBAL ADOPTION OF THE MANITOWOC WAY 6

  7. Slide 7: Regional Market Conditions

    Regional Market Conditions North America Europe - Strong crane demand - Continued weakness in Tower business - Good utilization rates - Mobile business stable, driven by new - Infrastructure investments starting product launches - Dealer inventory balanced Middle East Asia-Pacific - Robust demand fu

  8. Slide 8: Second-quarter Financial & Other Key Metrics

    Second-quarter Financial & Other Key Metrics ($ Millions, ex per share amounts) $1,025 $551 $0.75 $948 $603 $60 $434 $497 $36 +8% +27% +257% +21% +66% $0.21 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 Backlog Orders Net Sales Adjusted EBITDA Adjusted DEPS ADJUSTED EBITDA MARGIN: 10% 8

  9. Slide 9: Second-quarter Financial & Other Key Metrics ($ Millions)

    Second-quarter Financial & Other Key Metrics ($ Millions) Net Working Capital NWC $490M $727 $669 NWC $413M ($512) ($483) $275 $227 2022 2023 Net Inventory Net Receivables Accounts Payable and Accrued Expenses and Customer Advances TARGETING A $75 MILLION REDUCTION IN INVENTORY BY 12/31/2023 9

  10. Slide 10: Updated 2023 Full-Year Guidance

    Updated 2023 Full-Year Guidance Net Sales $2.1 to $2.2 billion Prior $2.0 to $2.1 billion Adjusted EBITDA $150 to $180 million Prior $130 to $160 million Depreciation and amortization $58 to $62 million Prior $60 to $65 million Interest expense $33 to $35 million Prior $31 to $33 million Provision f

  11. Slide 11: Key Takeaways

    Key Takeaways • U.S. crane demand strong, monitoring dealer inventory closely • European Tower crane market in a downcycle, shipments book-to-bill • Investing in organic growth to drive CRANES+50 strategy • Megatrends favorable for long-term growth MANITOWOC IS WELL-POSITIONED FOR CRANE RENAISSANCE

  12. Slide 12: Appendix

    Appendix

  13. Slide 13: Appendix – GAAP to Non-GAAP Reconciliation

    Appendix – GAAP to Non-GAAP Reconciliation Three Months Ended June 30, 2023 2022 As reported Adjustments Adjusted As reported Adjustments Adjusted Gross profit $ 123.0 $ — $ 123.0 $ 88.7 $ 1.1 $ 89.8 Engineering, selling and administrative expenses (87.6) 10.8 (76.8) (69.3) 0.3 (69.0) Amortization o

  14. Slide 14: Appendix – GAAP to Non-GAAP Reconciliation

    Appendix – GAAP to Non-GAAP Reconciliation Three Months Ended Six Months Ended June 30, June 30, Trailing Twelve 2023 2022 2023 2022 Months Net income (loss) $ 20.2 $ 15.1 $ 36.7 $ 18.2 $ (105.1) Interest expense and amortization of deferred financing fees 9.4 8.2 17.8 16.0 34.8 Provision (benefit)

  15. Slide 15: Appendix – GAAP to Non-GAAP Reconciliation

    Appendix – GAAP to Non-GAAP Reconciliation Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Net cash provided by (used for) operating activities $ (17.2) $ 0.1 $ (3.1) $ 5.7 Capital expenditures (27.0) (8.1) (36.3) (16.8) Free cash flows $ (44.2) $ (8.0) $ (39.4) $ (11.1) No

  16. Slide 16: Thank you for your interest

    Thank you for your interest Additional information: Ion Warner – SVP Marketing & Investor Relations +1 414-760-4805 ion.warner@manitowoc.com www.manitowoc.com

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