O-i Glass, Inc. · NYSE:OI
O-i Glass — Q1 2010 Earnings Presentation
13 slides from O-i Glass's earnings presentation, Apr 28, 2010
Slide 1: O-I Earnings Presentation First Quarter 2010
O-I Earnings Presentation First Quarter 2010 April 28, 2010
Slide 2: Introduction, Agenda, Regulation G and Forward Looking Statements
1Q10 Earnings Presentation Introduction Agenda 9 Business discussion 9 Financial review 9 Business outlook 9 Concluding remarks and Q&A Presenters Al Stroucken Ed White Chairman and CEO SVP and CFO Regulation G The information included in this presentation regarding adjusted net earnings relates to
Slide 3: Business Discussion - Highlights: Solid First-Quarter 2010 Earnings
1Q10 Business Discussion - Highlights - Solid First-Quarter 2010 Earnings Adjusted Net Earnings Per Share (1) $0.50/sh EPS, down modestly from 1Q09 $0.70 9 Higher YoY operating profit 9Despite unfav. Venezuela currency translation $0.60 $0.55 9 Improved price/product mix and flat input costs $0.50 9
Slide 4: Business Discussion - Segment Operating Profit
1Q10 Business Discussion - Segment Operating Profit - Higher Segment Profit Due to Improved Price/Mix and Lower Costs $250 1Q 2009 (as reported) 1Q 2010 (as reported) $198 Segment profit margin $200 $192 $150 Operating profit was impacted ($millions) ~$25 million due to Venezuelan currency translati
Slide 5: Financial Review - P&L Reconciliations
1Q10 Financial Review - P&L Reconciliations - Operational Improvements Offset By Higher Non-Operating Costs Reportable Segments Adjusted Net (1) Sales Operating Profit Income ($ Millions) ($ Millions) (Non-GAAP EPS) 1Q09 $1,503 $192 $0.55 Price Price and mix (6) 10 0.05 (2) Cost pass-through provisi
Slide 6: Financial Review - Free Cash Flow Reconciliation
1Q10 Financial Review - Free Cash Flow (1) Reconciliation - Free Cash Flow Consistent with Prior Year $0 ($20) $1 ($40) ($millions) ($60) $34 $4 ($72) ($80) ($75) $6 ($50) $1 $7 ($100) FCF 1Q09 Segment Depreciation & Change in Asbestos CapEx Restructuring Other FCF 1Q10 Operating Amortization Workin
Slide 7: Financial Review - Balance Sheet and Cash Flow
1Q10 Financial Review - Balance Sheet and Cash Flow - Strategic Use of Cash for Acquisition and to Repurchase Shares Change in Net Debt $3,500 Cash and debt – March 31, 2010: $3,250 9 Cash: $521 million 1Q10; $812 million 4Q09 9 Debt: $3.47 billion 1Q10; $3.61 billion 4Q09 $72 $26 $3,000 $144 $2,947
Slide 8: 2Q10 Business Outlook
2Q10 Business Outlook Expect Improved Price/Mix and Shipment Levels Favorable / Unfavorable Impact on Earnings (1) Year-over-Year (2Q10 vs 2Q09) Price/Mix Sales Volume Temporary Production Curtailments Cost Inflation Incremental Footprint Savings Non-Operational Costs - Including impact of translati
Slide 9: Concluding Remarks and Q&A
1Q10 Earnings Presentation Concluding Remarks and Q&A Second quarter 2010 earnings dates 9 Press release to be issued after market close Wednesday, July 28, 2010 9 Earnings conference call Thursday, July 29, 2010, 8:30 a.m. ET Investor relations contacts 9 John Haudrich, VP – Investor Relations, 567
Slide 10: Appendix
1Q10 Earnings Presentation Introductions Appendix John Haudrich 2010 Global Leadership Team Meeting 9
Slide 11: Reconciliation of GAAP to non-GAAP Items
Appendix Reconciliation of GAAP to non-GAAP Items Three months ended March 31 $ Millions, except per-share amounts 2010 2009 Earnings EPS Earnings EPS Net income attributable to the Company $ 85.3 $ 0.50 $ 45.1 $ 0.27 Items that management considers not representative of ongoing operations consisten
Slide 12: Free Cash Flow
Appendix Free Cash Flow Three months ended $ Millions March 31 2010 2009 Net earnings attributable to the Company $ 85.3 $ 45.1 Non-cash charges: Depreciation and amortization 99.1 95.1 Restructuring and asset impairment - 50.4 All other non-cash charges 57.7 43.3 Payments and other reconciling item
Slide 13: Foreign Currency Exchange Rate Trends
Appendix (1) Foreign Currency Exchange Rate Trends U.S. Dollar Versus Key Currencies EUR v USD AUD v USD 1.60 1.00 0.90 1.45 0.80 1.30 0.70 1.15 0.60 4Q 1Q 2Q 3Q 4Q 4Q 1Q 2Q 3Q 4Q 2008 2009 2010 2008 2009 2010 FX Translation Impact on Sales, Segment Operating Profit and Non-GAAP EPS (Compared to pri