Visteon Corporation · NASDAQ:VC
Visteon — Deutsche Bank Global Automotive Industry Conference January 2011
30 slides from Visteon's conference presentation, Jan 12, 2011
Slide 1: Visteon Corporation Deutsche Bank Global Automotive Industry Conference January 2011
Visteon Corporation Deutsche Bank Global Automotive Industry Conference January 2011
Slide 2: Forward-Looking Information
Page 2 Forward-Looking Information This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various factors, risks and u
Slide 3: Visteon Overview and Product Line Portfolio
Page 3 Visteon Overview Product Line Portfolio Leading provider of value-added components / systems to a diverse set of global OEMs Approximately 26,500 employees operating in 26 countries 87 manufacturing and 31 engineering / customer service center facilities Successful restructuring positioning t
Slide 4: Accomplishments in Reorganization
Page 4 Accomplishments in Reorganization Emerged from Chapter 11 on October 1, 2010 Addressed significant loss making operations in the UK Executed 12 additional facility actions - exits and divestitures - with the support of our customers Reduced post-retirement health care obligations by $260 mill
Slide 5: Visteon Highlights
Page 5 Visteon Highlights Sustainable Financial Profile Attractive Customer and Manufacturing Profile Experienced Management Team Strong Product and Technology Portfolio
Slide 6: Strong Product and Technology Portfolio
Page 6 Strong Product and Technology Portfolio
Slide 7: Product Portfolio Today
Page 7 Product Portfolio Today Focused Product Line Offering With Extensive Capabilities Interiors #2 position in European market Full systems capabilities - proven global design and manufacturing capabilities Manufacturing footprint extending across emerging markets and #1 market position in China
Slide 8: Extensive Capabilities
Page 8 Extensive Capabilities Volkswagen Polo Instrument Panel Nissan Pathfinder (EU) Full Cockpit Greatwall Hover Series Audio Head Unit Jaguar Land Rover Reconfigurable Cluster Ford Focus (EU) Tail Lamp GM Camaro RS Headlamp Projector Bentley Continental GT Headlamp Hyundai Santa Fe Climate System
Slide 9: Product Portfolio Aligned with Market Trends
Page 9 Product innovations such as compact HVAC and integrated Audio Climate Driver Information enhance driver comfort Rapidly expanding cockpit technologies, integrating consumer electronics Ability to customize interiors to suit consumer tastes Lower weight components through non-conventional desi
Slide 10: C-Beyond Demonstration Vehicle - Mature Markets
Page 10 C-Beyond Demonstration Vehicle - Mature Markets Integrated concept vehicle showcasing innovation in climate, electronics, interior packaging and lighting technologies Highlights Visteon's design and product capabilities targeted primarily to mature automotive markets Connectivity, sustainabi
Slide 11: Growth Market Car - Emerging Markets
Page 11 Growth Market Car - Emerging Markets Concept vehicle developed in collaboration with 3M Introduced at the 2011 International Consumer Electronics Show Innovations for fast-growing markets patterned on India customer preferences Focus on delivering customers regional differentiation, offering
Slide 12: NAIAS Highlights
Page 12 Page 12 NAIAS Highlights Audi A6 Radiator, Low Temperature Radiator BMW 7-Series Active Hybrid Electric Compressor Chevrolet Camaro Coupe/Convertible Headlamp Projector, CHMSL, Premium Audio - 8 Channel Amplifier and Speaker Assembly, A/C Lines Chevrolet Cruze Center High Mount Stop Lamp (CH
Slide 13: Attractive Customer and Manufacturing Profile
Page 13 Attractive Customer and Manufacturing Profile
Slide 14: Customer and Regional Sales Distribution
Page 14 Q3 2010 YTD Q3 2010 YTD 2000 Consolidated Total Market Impact Region Customer NA EU AP SA East 75 13 10 2 Total Sales $19.5 Billion $5.4 Billion $7.9 Billion NA EU AP SA East 18 36 39 7 Hyund. / Kia Ford PSA R / N GM / Chrysler VW Other East 28 26 7 7 5 2 25 NA EU AP SA East 14 26 55 5 Ford
Slide 15: Growth in Asian Markets
Page 15 SVW FAW-VW SGM Beijing Hyundai Dongfeng Nissan Chery FAW-Toyota BYD Guangzhou Honda Changan Ford Others 9 8 8 7 6 5 5 5 5 4 25 Growth in Asian Markets China Represents Largest Growth Opportunity - Visteon Well-Positioned with Key China Players Through Yanfeng and Halla Global Production Volu
Slide 16: Visteon Asia Pacific Customers
Page 16 Visteon Asia Pacific Customers
Slide 17: Operate Facilities in 26 Countries
Page 17 Van Buren, MI Chelmsford, UK Shanghai, China Operate 118 Facilities in 26 Countries Broad Manufacturing and Engineering Capabilities Some facilities support multiple product groups. Climate Electronics Interiors Lighting Tech Center # of Locations
Slide 18: Yanfeng Visteon Overview
Page 18 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 YTD 1.6 2.2 2.6 4.1 7 7 7.8 10.7 13.7 13.9 19.4 25.2 Overview Yanfeng Visteon Sales Breakdown SVW SGM Export SAIC East 36 26 6 5 4 4 2 2 1 1 1 1 11 By Customer By Product Interiors Seating Electr. Exterior Safety Tooling East 45 38
Slide 19: Halla Climate Control Overview
Page 19 Overview Ownership Structure Halla Climate Control Major Customers Founded in 1986, 70% consolidated subsidiary of Visteon - Remaining 30% trades on Korea Stock Exchange Specializes in developing and producing automotive climate control products, including air-conditioning systems, modules,
Slide 20: Proven and Experienced Team
Page 20 Proven and Experienced Team Proven and Experienced Team Board of Directors Experience Donald J. Stebbins Chairman, CEO and President Duncan H. Cocroft Former Executive Vice President and Treasurer, Cendant CorporationDirector - GEO Specialty Chemicals; SBA Communications; Wellman, Inc. Phili
Slide 21: Sustainable Financial Profile
Page 21 Sustainable Financial Profile
Slide 22: Financial Profile - 2005 FY vs. Q3 2010 YTD
Page 22 Financial Profile - 2005 FY vs. Q3 2010 YTD Financial Profile - 2005 FY vs. Q3 2010 YTD Actions Have Resulted in Markedly Improved Financial Results and Leverage Position (1) As of October 1, 2010 (post-emergence). (1) (1) Please see important disclosures regarding "Forward Looking Informati
Slide 23: Significantly Improved Cost Structure
Page 23 Headcount (Global) 2005 2006 2007 2008 2009 2010E PPM 1652 1226 1118 956 693 658 2005 2006 2007 2008 2009 9/1/2010 PPM 48000 44000 40650 33350 29400 26500 Facilities Fixed, Closed or Sold (#) (Cumulative actions) 2006 2007 2008 2009 2010 PPM 11 18 38 45 50 Overhead Cost ($M) (Engineering and
Slide 24: Product Sales and Adjusted EBITDA Margin
Page 24 2005 2006 2007 2008 2009 Q3 2010 YTD Sales 16586 10706 10721 9077 6420 5437 EBITDA Margin 1.2 4.3 3.9 3.9 7.1 8.8 Product Sales and Adjusted EBITDA Margin Improving Adjusted EBITDA Margins (Dollars in Millions) ACH Transaction 23 North America facilities returned to Ford, including UAW workf
Slide 25: Sales and Adjusted EBITDA - Q3 2010 YTD
Page 25 Sales and Adjusted EBITDA - Q3 2010 YTD Sales and Adjusted EBITDA - Q3 2010 YTD 2009 YTD Climate Electronics Interiors Lighting Elims/Other 2010 YTD 4453 4453 5114 5210 5365 5437 5437 661 96 155 137 65 Note: Product Group pie chart for Product Sales excludes central / elims / other. Climate
Slide 26: Strong Balance Sheet
Page 26 Strong Balance Sheet Strong Balance Sheet Visteon Cash / Debt / Legacy Liabilities Strong Balance Sheet and Global Cash Position - No Material Near-Term Maturities Moody's S&P Corporate Family Rating B1 B+ Long Term Debt Rating Ba1 BB- Outlook Stable Stable 2010 2011 2012 2013 2014 2015+ Cor
Slide 27: Summary
Page 27 Summary Focused product portfolio, recognized technology positions and market breadth Ford and Hyundai / Kia - Strong positions Low-cost manufacturing / engineering footprint Lean overhead cost structure Delevered capital structure Extensive presence in China and other emerging markets lever
Slide 28: Use of Non-GAAP Financial Information
Page 28 Throughout this presentation, the Company has provided information regarding certain non-GAAP financial measures. These measures include "free cash flow" and "Adjusted EBITDA." Free cash flow represents cash flow from operating activities less capital expenditures. Adjusted EBITDA represents
Slide 29: Adjusted EBITDA Reconciliation
Page 29 Adjusted EBITDA Reconciliation 2005 - 2009 2010 YTD
Slide 30: www.visteon.com
Page 30 www.visteon.com
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