Slide 1: Fourth Quarter and FY 2019 Earnings Presentation
Fourth Quarter and FY 2019 Earnings Presentation November 22, 2019
Slide 2: Cautionary Statements
Cautionary Statements This presentation contains forward-looking statements that are subject to known and unknown risks and uncertainties, many of which are beyond our control. All statements other than statements of historical fact included in this presentation are forward-looking statements. Forwa
Slide 3: FY 2019 Highlights and Financial Summary
FY 2019 Highlights and Financial Summary Delivered Net Income of $139M FY FY Y/Y ($’s in millions) 2019 2018 Change Increased Adjusted EBITDA by $53M, or ~20% year over year improvement Net Sales $1,916.5 $1,835.1 +4.4% Operating Income $223.7 $179.7 +24.5% Reduced Net Debt/Adjusted EBITDA from 2.9x
Slide 4: Consolidated Atkore Q4 2019 Highlights
Consolidated Atkore Q4 2019 Highlights Strong volume growth of 8.4% driven by gains in Q4 Net Sales Bridge both Electrical Raceway and Mechanical $40 $20 $502M Products & Solutions $478M $2 $34 2018 Volume/Mix Price M&A FX 2019 Q4 Adjusted EBITDA Bridge Delivered $18M in adjusted EBITDA growth by $1
Slide 5: Consolidated Atkore Q4 2019 Financial Summary
Consolidated Atkore Q4 2019 Financial Summary Q4 Q4 Net Sales Growth Y/Y ($’s in millions) 2019 2018 Change Volume/Mix +8.4% Price (7.0%) Net Sales $501.7 $477.6 +5.1% Acquisitions/Divestitures +4.2% Operating Income $66.2 $46.7 +41.8% FX (0.5%) Net Income $46.0 $32.7 +40.7% Total 5.1% Adjusted EBIT
Slide 6: Electrical Raceway Q4 Highlights
Electrical Raceway Q4 Highlights Excellent results in Q4 with 17.2% growth in Q4 Q4 Y/Y Adjusted EBITDA 2019 2018 Change ($’s in millions) Net Sales $373.3 $355.0 +5.2% Solid volume growth of 6.5%; five new product introductions in the quarter and continued Adjusted EBITDA $80.0 $68.2 17.2% growth f
Slide 7: Mechanical Products & Solutions Q4 Highlights
Mechanical Products & Solutions Q4 Highlights Very strong volume growth led by several large Q4 Q4 Y/Y renewable energy projects 2019 2018 Change ($’s in millions) Net Sales $128.7 $123.0 +4.6% Focus on mix management helped drive adjusted EBITDA gains in Q4 Adjusted EBITDA $21.1 $11.8 +79.2% Adjust
Slide 8: Key Balance Sheet and Cash Flow Metrics
Key Balance Sheet and Cash Flow Metrics Metrics Leverage Ratio(2) ($’s in millions) 9/30/2019 Cash and cash equivalents $123.4 Reduced by 0.9x 3.1 Total Debt $845.3 2.9 2.9 Net Debt $721.9 2.8 FY19 Net cash from operating activities $209.7 2.6 FY19 Capital expenditures $34.9 2.2 FY19 Free cash flow(
Slide 9: Financial Outlook Summary
Financial Outlook Summary Q1 2020 FY 2020 Electrical Raceway Volume +1 to 2% Segment Adjusted EBITDA* $69 - $73M $303 - $313M Volume +1 to 3% Mechanical Products & Solutions Segment Adjusted EBITDA* $11 - $15M $70 - $75M Adjusted EBITDA* $72 - $77M $335 - $345M Adjusted EPS* $0.80 - $0.85 $3.80 - $3
Slide 10: Appendix
atkore Appendix yf INTERNATIONAL ——
Slide 11: Consolidated Atkore FY 2019 Information
Consolidated Atkore FY 2019 Information FY 2019 Net Sales Bridge Net Sales Growth $47 Volume/Mix +1.4% $1,917M $17 $7 $25 $1,835M Price +0.9% Acquisitions/Divestitures +2.6% FX (0.5%) Total 4.4% 2018 Volume/Mix Price M&A FX 2019 FY 2019 Adjusted EBITDA Bridge $39 $5 $324M $2 $2 $12 $272M 2018 Volume
Slide 12: Segment Information
Segment Information Three Months Ended September 30, 2019 September 30, 2018 Adjusted Adjusted Adjusted EBITDA Adjusted EBITDA (in thousands) Net sales EBITDA Margin Net sales EBITDA Margin Electrical Raceway $ 373,344 $ 80,000 21.4 % $ 354,968 $ 68,235 19.2 % MP&S 128,661 $ 21,137 16.4 % 123,030 $
Slide 13: Adjusted Earnings Per Share Reconciliation
Adjusted Earnings Per Share Reconciliation Consolidated Atkore International Group Inc. Three Months Ended Fiscal Year Ended September 30, September 30, September 30, September 30, (in thousands, except per share data) 2019 2018 2019 2018 Net income $ 45,997 $ 32,699 $ 139,051 $ 136,645 Stock-based
Slide 14: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Consolidated Atkore International Group Inc. Three Months Ended Fiscal Year Ended (in thousands) September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 Net income $ 45,997 $ 32,699 $ 139,051 $ 136,645 Income tax expense 16,105 1,447 4
Slide 15: Trailing Twelve Month Adjusted EBITDA Reconciliation
Trailing Twelve Month Adjusted EBITDA Reconciliation Consolidated Atkore International Group Inc. TTM Three months ended September 30, September 30, December 28, (in thousands) 2019 2019 June 28, 2019 March 29, 2019 2018 Net income $ 139,051 $ 45,997 $ 36,550 $ 29,555 $ 26,949 Interest expense, net
Slide 16: Net Debt to Total Debt and Leverage Ratio
Net Debt to Total Debt and Leverage Ratio Consolidated Atkore International Group Inc. September June 28, March 29, December September June 29, ($ in thousands) 30, 2019 2019 2019 28, 2018 30, 2018 2018 Short-term debt and current maturities of long-term debt $ — $ — $ — $ 26,561 $ 26,561 $ 7,630 Lo
Slide 17: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Consolidated Atkore International Group Inc. Fiscal year ended (in thousands) September 30, 2019 September 30, 2018 Net cash provided by operating activities $ 209,694 $ 145,703 Capital Expenditures (34,860) (38,501) Free Cash Flow $ 174,834 $ 107,202 17