Dauch Corporation · NYSE:DCH
Dauch — American Axle & Manufacturing (AAM) — Investor Presentation (September 2024)
20 slides from Dauch's investor presentation, September 2024
Slide 1: September 2024 Investor Presentation
September 2024 Investor Presentation
Slide 2: Forward-Looking Statements
Forward-Looking Statements In this presentation, we make statements concerning our expectations, beliefs, plans, objectives, goals, strategies, and future events or performance. Such statements are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 199
Slide 3: AAM Overview
AAM Overview
Slide 4: AAM - Quick Facts
AAM - Quick Facts Global leader in design, engineering and manufacturing of automotive propulsion systems and technologies to support electric, hybrid and ICE vehicles $6.1B 2023 Sales DRIVELINE METAL FORMING ▪ One of the leaders in hybrid and ▪ Strong position in electrified electric driveline solu
Slide 5: 2Q 2024 AAM Financial Highlights
2Q 2024 AAM Financial Highlights $1.63B $208.4M $97.9M Quarterly Second Quarter Adjusted Free Sales Adjusted EBITDA Cash Flow (12.8% margin) AAM Delivered Solid Performance 5 * For definitions of Adjusted EBITDA and Adjusted Free Cash Flow and non-GAAP reconciliations, please see the attached append
Slide 6: Business Update
Business Update Components Win E-Drive Gears Van Program Newsweek Award AAM to supply Luxury European AAM to supply full- Newsweek named components to a OEM awarded AAM size traditional van AAM as one of major global OEM for to supply electric axles. Launch is America’s Greatest its new modular driv
Slide 7: 2024 Financial Outlook
2024 Financial Outlook (as of August 9, 2024) 2024 Financial Targets Full Year Sales $6.1 to $6.3 billion Adjusted EBITDA $705 to $755 million Adjusted Free Cash Flow $200 to $240 million • These targets are based on North American light vehicle production of ~15.8 million units, current customer pr
Slide 8: Consistent Deleveraging
Consistent Deleveraging Total Debt ($mm) (1) Since the MPG acquisition in 2017, total $3,969 debt has been reduced by over $1.5bn $3,745 $3,579 $3,412 $1,619 $3,052 $2,900 $1,595 $2,760 $2,678 $1,529 $1,412 $1,152 $1,220 $1,132 $1,132 $2,350 $2,150 $2,050 $2,000 $1,900 $1,680 $1,628 $1,546 2017(2) 2
Slide 9: AAM Long-Term Value Creation
AAM Long-Term Value Creation • Balanced mix of customers and geography. Diversification • Expand our product portfolio, driving opportunities with new OEMs and regions. • Agnostic to propulsion market changes. • Leveraging scale and technology. • Drive expansion into new segments with electrificatio
Slide 10: Supplemental Data
Supplemental Data
Slide 11: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures In addition to the results reported in accordance with accounting principles generally accepted in the United States of America (GAAP) included within this presentation, we have provided certain information, which includes non-GAAP financial measures. Such informa
Slide 12: EBITDA and Adjusted EBITDA Reconciliation
Supplemental Data* EBITDA and Adjusted EBITDA Reconciliation ($ in millions) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net income $ 18.2 $ 8.0 $ 38.7 $ 2.9 Interest expense 47.9 50.2 96.9 100.7 Income tax expense 17.2 5.3 33.1 5.3 Depreciation and amortization 119.6 1
Slide 13: EBITDA and Adjusted EBITDA for the Last Twelve Months Ended June 30, 2024
Supplemental Data* EBITDA and Adjusted EBITDA for the Last Twelve Months Ended June 30, 2024 ($ in millions) Last Twelve Quarter Ended Months Ended September 30, December 31, March 31, June 30, June 30, 2023 2023 2024 2024 2024 Net income (loss) $ (17.4) $ (19.1) $ 20.5 $ 18.2 $ 2.2 Interest expense
Slide 14: Adjusted Earnings Per Share Reconciliation
Supplemental Data* Adjusted Earnings Per Share Reconciliation Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Diluted earnings per share $ 0.15 $ 0.07 $ 0.32 $ 0.02 Restructuring and acquisition-related costs 0.04 0.07 0.06 0.11 Debt refinancing and redemption costs - - - -
Slide 15: Free Cash Flow and Adjusted Free Cash Flow Reconciliation
Supplemental Data* Free Cash Flow and Adjusted Free Cash Flow Reconciliation ($ in millions) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net cash provided by operating activities $ 142.8 $ 132.8 $ 160.6 $ 164.9 Less: Capital expenditures net of proceeds from the sale of
Slide 16: Net Debt and Net Leverage Ratio
Supplemental Data* Net Debt and Net Leverage Ratio ($ in millions) June 30, 2024 Current portion of long term debt $ 27.2 Long-term debt, net 2,694.8 Total debt, net 2,722.0 Less: Cash and cash equivalents 519.9 Net debt at end of period 2,202.1 Adjusted LTM EBITDA $ 740.3 Net Leverage Ratio 3.0x *P
Slide 17: Segment Financial Information
Supplemental Data* Segment Financial Information ($ in millions) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Segment Sales Driveline $ 1,124.5 $ 1,086.5 $ 2,230.9 $ 2,100.3 Metal Forming 653.1 634.2 1,297.2 1,253.3 Total Sales 1,777.6 1,720.7 3,528.1 3,353.6 Intersegmen
Slide 18: Full Year 2024 Financial Outlook
Supplemental Data* Full Year 2024 Financial Outlook ($ in millions) Adjusted EBITDA Adjusted Free Cash Flow Low End High End Low End High End Net Income $ 5 $ 30 Net cash provided by operating activities $ 430 $ 470 Interest expense 190 190 Capital expenditures net of proceeds from the sale of Incom
Slide 19: Definition of Non-GAAP Measures
Definition of Non-GAAP Measures EBITDA and Adjusted EBITDA We define EBITDA to be earnings before interest expense, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA excluding the impact of restructuring and acquisition-related costs, debt refinancing and redemption c
Slide 20: www.aam.com
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