Gentherm Inc · NASDAQ:THRM
Gentherm — Q1 2025 Earnings Presentation
17 slides from Gentherm's earnings presentation, Apr 24, 2025
Slide 1: 2025 First Quarter Results
2025 First Quarter Results April 24, 2025 Proprietary © Gentherm
Slide 2: Forward-Looking Statements
Forward-Looking Statements Except for historical information contained herein, statements in this presentation are forward-looking statements that are made by Gentherm Incorporated (the “Company”) pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All sta
Slide 3: Operating Environment Update
Operating Environment Update Executing with agility in rapidly changing environment Tariffs Industry Volume Global Revenue Distribution and Manufacturing Footprint 2025 Full Year Light Vehicle Production¹ % of revenue by region (2024 Revenue ~$1.5B) Millions of units Countries with Gentherm manufact
Slide 4: Industry Leading Technologies with Broad Market Application
Industry Leading Technologies with Broad Market Application Scalable Technology Platforms THERMAL AIR MOVING PNEUMATIC VALVE MANAGEMENT DEVICES SOLUTIONS SYSTEMS • CCI Portfolio • CCS® Portfolio • Puls.A Pulsating Massage • Fluid Management • Blanketrol® III System • WarmAir® • PCS Lumbar Support •
Slide 5: Accelerating Growth in Medical through Enhanced PLM
Accelerating Growth in Medical through Enhanced PLM Objective: Grow Medical addressable market by leveraging Gentherm core technology platforms Current State PLM Approach Early Progress Completed TWO proof Existing Medical Products of concepts with "Read Across" potential to greatly Engaged Auto rev
Slide 6: Strategic Actions Progress
Strategic Actions Progress Framework Initial focus areas ̶ Accelerating Product Lifecycle Management ̶ Identified TAMs; Met with partners in new end Drive Strategic markets and industries; Working channels Profitable Growth ̶ Standardized factory floor KPIs ̶ Implementing Business Process Standardiz
Slide 7: First Quarter Highlights
First Quarter Highlights Driving Strategic Building Operational Achieving Superior Profitable Growth Excellence Financial Performance $400 million 11.1% Adj. EBITDA $15 million Automotive New Business Continued focus on driving Capital deployed to support Awards led by Conquest Awards operational pe
Slide 8: Automotive Highlights
Automotive Highlights Awards Launches $400M in awards 17 program launches Milestone win Lincoln Navigator Audi Q5 with first Lumbar and Massage Comfort Solution awarded by Japanese OEM First commercial award with Volvo for Climate Controlled Seats Full suite of Gentherm products Thermal and pneumati
Slide 9: First Quarter Financial Review
First Quarter Financial Review Revenue Adjusted EBITDA Liquidity $354M $39.3M ~$400M +1% ex-FX 11.1% margin Flat vs. PY $356 $354 $43.5 $39.3 $403 $398 12.2% 11.1% 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 • Continued strong growth of lumbar • Strong net material performance • Liquidity and net leverage of ~0.5
Slide 10: 2025 Guidance
2025 Guidance Revenue guidance remains unchanged, Adjusted EBITDA margin range expanded 2025E(1) Drivers vs. Initial Guidance Projected decline in light vehicle production, primarily North America Product Revenues $1.4B – $1.5B Tariff pass-through revenue Foreign exchange favorability Decrem
Slide 11: Why Gentherm?
Why Gentherm? Innovative leader uniquely Continuous improvement Strong financial position positioned for profitable mindset to drive margin with ability to efficiently growth driven by scalable expansion and solid cash deploy capital and drive technology platforms and flow conversion shareholder val
Slide 12: Appendix
Appendix Proprietary © Gentherm
Slide 13: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures In addition to the results reported herein in accordance with GAAP, the Company has provided here or may discuss on the related conference call adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”); Adjusted EBITDA margin; adju
Slide 14: Select Income Statement Data
Select Income Statement Data Three Months Ended March 31 (Dollars in thousands, except per share data) 2025 2024 Product Revenues $ 353,854 $ 356,015 Automotive 341,874 344,638 Medical 11,980 11,377 Gross Margin 86,465 88,753 Gross Margin % 24.4% 24.9% Operating Expenses 69,404 70,704 Operating Inco
Slide 15: Select Balance Sheet Data
Select Balance Sheet Data (Dollars in thousands) March 31, 2025 December 31, 2024 Cash and Cash Equivalents $ 163,142 $ 134,134 Total Assets 1,344,246 1,247,556 Debt 262,172 220,201 Current 138 137 Non-Current 262,034 220,064 Revolving LOC Availability 235,224 280,000 Total Liquidity 398,366 414,134
Slide 16: Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin
Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin Three Months Ended March 31 (Dollars in thousands) 2025 2024 Net (Loss) Income $ (128) $ 14,785 Add Back: Depreciation and Amortization 12,788 13,580 Income Tax Expense 2,212 3,542 Interest Expense, net 3,555 3,244 Adjustments: Non-Cash St
Slide 17: Reconciliation of Adjusted EPS
Reconciliation of Adjusted EPS Three Months Ended March 31 2025 2024 Diluted EPS - As Reported $ (0.00) $ 0.47 Non-Cash Purchase Accounting Impacts 0.05 0.05 Restructuring Expenses, net 0.15 0.23 Unrealized Currency Loss (Gain) 0.31 (0.06) Loss on Sale of Land and Building, net 0.07 – Leadership Tra