Hyster-yale, Inc. · NYSE:HY
Hyster-yale — Hyster-Yale Materials Handling — Investor Day (May 2018)
167 slides from Hyster-yale's investor day presentation, May 24, 2018
Slide 1: Investor Day, May 24, 2018
Thursday, May 24, 2018 DAY INVESTOR Exhibit 99
Slide 2: Introduction
Christina Kmetko Investor Relations Introduction
Slide 3: Safe Harbor Statement & Disclosure
Solutions that DRIVE Productivity Safe Harbor Statement & Disclosure This presentation includes forward-looking comments subject to important risks and uncertainties. Any and all statements regarding Hyster-Yale’s expected future financial position, results of operations, cash flows, business strate
Slide 4: Today's Presenters
Solutions that DRIVE Productivity Today’s Presenters 8:30 – 8:35 am Christina Kmetko Investor Relations 8:35 – 8:55 am Alfred Rankin, Jr. Chairman, President and Chief Executive Officer, Hyster-Yale Materials Handling 8:55 – 9:20 am Colin Wilson President and Chief Executive Officer, Hyster-Yale Gro
Slide 5: E-mail for Questions Submitted by Webcast Audience
Solutions that DRIVE Productivity E-mail for Questions Submitted by Webcast Audience ir@hyster-yale.com Subject: Investor Day Question
Slide 6: Hyster-Yale Overview
Alfred Rankin, Jr. Chairman , President and CEO Hyster - Yale Materials Handling Chairman Hyster - Yale Group Hyster-Yale Overview
Slide 7: Our Businesses
Solutions that DRIVE Productivity Our Businesses Our Core Lift Truck Business Our Attachment Business Our Fuel Cell Business
Slide 8: Hyster-Yale at a Glance
Solutions that DRIVE Productivity Hyster-Yale at a Glance EMEA 25.4% Hyster-Yale Materials Handling, Inc. (NYSE:HY) is a leading globally integrated, full-line lift truck manufacturer offering a broad array of solutions aimed at meeting the specific materials handling needs of its customers. _______
Slide 9: Overview and Sources of Revenue Globally in 2017
Solutions that DRIVE Productivity Overview and Sources of Revenue Globally in 2017 Large installed lift truck base that drives parts sales Over 830,000 units worldwide at 12/31/17 HY sales of ~ 95,000 lift truck units in LTM 3/31/18 nits sold - produced in HY plants nits sold – produced by JV or oth
Slide 10: A Positive Profitability Trend
Solutions that DRIVE Productivity A Positive Profitability Trend $57.5 $72.4 $106.9 2.1% 2.9% 3.8% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% $20.0 $45.0 $70.0 $95.0 $120.0 $145.0 LTM Q1 2018 ($ in millions) 7% OPERATING PROFIT MARGIN TARGET 4.1% Gap 3.2% Gap Prior Cycle Market Peak
Slide 11: Hyster-Yale's Global Footprint
Hyster-Yale’s Global Footprint Solutions that DRIVE Productivity Ramos Arizpé, Mexico Fabrication Manufacture Sulligent, Alabama Component Manufacture Berea, Kentucky Lift Truck Manufacture Greenville, North Carolina Division Headquarters; Lift Truck Manufacture; Warehouse Development Center Clevela
Slide 12: Our Agenda and Presenters Today
Our Agenda and Presenters Today Solutions that DRIVE Productivity Alfred Rankin, Jr. Hyster-Yale Overview Colin Wilson Market, Trends and Strategy. Strategy 1 – Leader in Independent Distribution. Strategy 2 – Leader in Delivery of Industry – and Customer – Focused Solutions Rajiv Prasad Strategy 3
Slide 13: Long-Term Focused, not Short-Term Oriented
Solutions that DRIVE Productivity Long-Term Focused, not Short-Term Oriented Investing for the Future
Slide 14: Key Perspectives to Emphasize
Solutions that DRIVE Productivity Key Perspectives to Emphasize Global markets expected to be strong for next several years Investments to expand HY’s product and solutions portfolio and geographic breadth and depth Core lift truck programs aim to trigger organic growth through intensified industry
Slide 15: Our Long-Term Philosophy
Solutions that DRIVE Productivity Our Long-Term Philosophy Long-term growth Long-term shareholders Shareholder protection Senior management incentivized as long-term shareholders Increase shareholder value
Slide 16: We are Committed to Our Lift Truck Financial Targets
Solutions that DRIVE Productivity We are Committed to Our Lift Truck Financial Targets Operating profit With adequate volume growth, the Lift Truck business can achieve While maintaining a ROTCE
Slide 17: The Economy of Scale Logic of Hyster-Yale's Economic Engine
Solutions that DRIVE Productivity The Economy of Scale Logic of Hyster-Yale’s Economic Engine…. A large lift truck population base drives parts and service volume resulting in enhanced profitability for dealers and Hyster-Yale Geographic and Product Balance Worldwide Distribution Strength to Drive M
Slide 18: Core Strategies for Achieving Targets are in Place
Solutions that DRIVE Productivity Core Strategies for Achieving Targets are in Place Leader in delivery of industry and customer focused solutions Low cost of ownership and enhanced productivity for customers Leader in independent distribution Grow in emerging markets Leader in fuel cells and their
Slide 19: Corporate Themes Underlying Our Strategies
Solutions that DRIVE Productivity Corporate Themes Underlying Our Strategies are… Innovation Quality Culture Pricing and Cost Leadership Services Excellence Develop People Capabilities for the Future
Slide 20: In Summary, Over the Next Few Years
Solutions that DRIVE Productivity by selling and producing 115,000 HY-factory trucks by selling and producing 115,000 HY-factory trucks In Summary, Over the Next Few Years…. Get to approximately $3.9 billion HY Lift Truck segment revenue irrespective of industry size and maintain ROTCE >20% Get to a
Slide 21: Market, Trends & Strategy
Colin Wilson President and Chief Executive Officer Hyster - Yale Group Market, Trends & Strategy
Slide 22: Key HY and Market Perspectives
Solutions that DRIVE Productivity Key HY and Market Perspectives Global industry remains strong Significant shifts in customer base Our strategies address changing landscape Secular shift in product mix Rise of enabling technologies Strong growth in emerging markets
Slide 23: Global Industry Remains Strong
Solutions that DRIVE Productivity Class 3 Electric 35% Global Industry Remains Strong Global Lift Truck Industry Size North America Retail Lift Truck at Peak Trend Lift Truck Industry – Unit Distribution by Class Global Lift Truck Industry Breakdown (Units) Long-term CAGR (2004 – 2017) = 5.4 % _____
Slide 24: Global Lift Truck Market Rates of Change
Solutions that DRIVE Productivity Global Lift Truck Market Rates of Change Japan Western Europe Eastern Europe Brazil North America Middle East & Africa Latin America (excluding Brazil) Asia (excluding China & Japan) China ( 3 & 12 months rate of change trend) _____________________ Source: WITS. Boo
Slide 25: Significant Shift in Customer Base
Solutions that DRIVE Productivity Significant Shift in Customer Base Products Shift Applications Shift Geographic Shift Industries Shift
Slide 26: Growth Rates by Region
Solutions that DRIVE Productivity Growth Rates by Region USA and Canada Latin America East Europe West Europe China Asia (excl. China) Africa/ Middle East Pacific Japan Cumulative Annual Growth Rates by Region Past 3 years (Units) Past 10 years (Units) Yr: 6.7% 10 Yr: 3.4% Yr: 0.5% 10 Yr: 1.3% Yr: 1
Slide 27: Secular Shift in Product Mix
Solutions that DRIVE Productivity Secular Shift in Product Mix Class 2 Electric 10% Class 5 ICE 32% Class 2 Electric 10% Class 5 ICE 18% Today _____________________ Source: WITS. Orders Reports. ICE = Internal Combustion Engine Utility = HYG Estimates DRIVERS: • Customer shift • Growth of warehousin
Slide 28: Trends – Product & Solutions
Solutions that DRIVE Productivity Trends – Product & Solutions Workforce availability Faster response Lower costs Environment Automation robotics Wireless communications Modular platforms Alternative energy Big Data analytics Electrification
Slide 29: Our Strategies Address Changing Landscape
Solutions that DRIVE Productivity Our Strategies Address Changing Landscape and Will Drive Our Economic Engine Grow in Emerging Markets Leader in the Attachments Business A large lift truck population base drives parts and service volume resulting in enhanced profitability for Hyster-Yale and dealer
Slide 30: Leader in Independent Distribution
Solutions that DRIVE Productivity Leader in Independent Distribution Independent Exclusive Entrepreneurial Profitable Committed partner Dual-line or single Enhancing performance Dealer Excellence programs Dealer incentives Term-based contracts 1,000+ global dealer locations 2,000+ application consul
Slide 31: Only Major Manufacturer Committed to Exclusive and Independent Distribution
Solutions that DRIVE Productivity Only Major Manufacturer Committed to Exclusive and Independent Distribution Independent Dealer Strong value proposition attracts successful, entrepreneurial dealers with long term outlook Limits HY capital requirements, lowers cost structure and drives high ROTCE Ke
Slide 32: Leadership in Delivering Industry and Customer Focused Solutions
Solutions that DRIVE Productivity Leadership in Delivering Industry and Customer Focused Solutions
Slide 33: Products for All Needs
Solutions that DRIVE Productivity Products for All Needs… CLASS 1 CLASS 2 CLASS 3 CLASS 4 CLASS 5 Forklifts Internal Combustion Engine Lithium-Ion Reach Stackers Big Trucks Very Narrow Aisle Trucks Electric Counterbalanced Rider Trucks Electric Narrow Aisle Trucks Electric Hand Trucks Internal Combu
Slide 34: Full Range of Power Options
Solutions that DRIVE Productivity Full Range of Power Options… CLASS 1, CLASS 2 & CLASS 3 CLASS 4 & CLASS 5 Electric Counterbalanced Rider Trucks Electric Narrow Aisle Trucks Electric Hand Trucks Internal Combustion Engine (cushion tire) Internal Combustion Engine (pneumatic tire) Lead-Acid Battery
Slide 35: With a Broad Range of Attachments
Solutions that DRIVE Productivity …with a Broad Range of Attachments… Clamps Multipallets Rotators Sideshifters Fork Positioners Push Pulls Lifting Tables Forks
Slide 36: For all industries
Solutions that DRIVE Productivity Solutions for all industries LOGISTICS FOOD & BEVERAGE MANUFACTURING NATURAL RESOURCES & MATERIALS DURABLE GOODS SHORT- TERM RENTALS CONSUMER & BUSINESS TRADES Warehouse Counterbalanced Source: 2017 ITA Market Size and Mix by Vertical and Segment
Slide 37: Realigned, Industry-Focused Sales and Marketing
Solutions that DRIVE Productivity Realigned, Industry-Focused Sales and Marketing • Market opportunity defined by industry • Dedicated team focus to drive results • Key industry drivers defined • Competitive requirements defined • Individual customer requirements identified • Translated into value-a
Slide 38: Sales Deployment
Solutions that DRIVE Productivity Sales Deployment Top Buyers ~ 200 Accounts Top Buyers ~ 200 Accounts Industry Leaders ~1600 Accounts Industry Leaders ~1600 Accounts Rest of the Market Market Share HYG Sales Approach 25% of Market 35% of Market High Value National Accounts Team 40% of Market Dealer
Slide 39: Hyster-Yale National Accounts Program
Solutions that DRIVE Productivity Hyster-Yale National Accounts Program ~200 designated accounts with annual purchases of ~60,000 units and high market share Over 2,400 Customer and Dealer Visits per year 30 account managers, segment focused directors, deployed throughout the U.S. Committed to custo
Slide 40: Dealer Support Team
Solutions that DRIVE Productivity Dealer Support Team Dealer Dealers also manage ~ 300 “Industry Leader” Accounts Area Business Manager Field Based Specialized Sales Support Inside Sales Support Financial Services Manager Regional Aftermarket Manager Field Service Engineer
Slide 41: Sales Deployment
Solutions that DRIVE Productivity Sales Deployment Top Buyers ~ 200 Accounts Top Buyers ~ 200 Accounts Industry Leaders ~1600 Accounts Industry Leaders ~1600 Accounts Rest of the Market Market Share HYG Sales Approach 25% of Market 35% of Market High Value National Accounts Team 40% of Market New In
Slide 42: New Industry Sales Team
Solutions that DRIVE Productivity New Industry Sales Team Enhance the knowledge and skills of dealer sales personnel 20 account managers, segment focused directors, deployed throughout the U.S. Committed to working with dealers to identify and serve needs of large “Industry Leader” accounts Develop
Slide 43: Industry Accounts Breakdown
Solutions that DRIVE Productivity Industry Accounts Breakdown Goal is to improve position with all target “Industry Leader” accounts
Slide 44: Delivering Low Cost of Ownership & Enhanced Productivity for Customers
Rajiv Prasad Chief Product and Operations Officer Hyster - Yale Group Delivering Low Cost of Ownership & Enhanced Productivity for Customers
Slide 45: Low Cost of Ownership Drivers
Solutions that DRIVE Productivity Low Cost of Ownership Drivers Fuel Lease Fuel 11% Lease 9% Factors Impacting Low Cost of Ownership Factors Impacting Low Cost of Ownership *Typical truck cost/hour for 5,000lb North American applications Productivity Ergonomics/ fatigue Auto functions Automated truc
Slide 46: The Right Product Solution Drives Lowest Cost of Ownership
The Right Product Solution Drives Lowest Cost of Ownership Solutions that DRIVE Productivity
Slide 47: HY Product / Solutions Value Proposition
Solutions that DRIVE Productivity HY Product / Solutions Value Proposition Customer Value Productivity Customer Needs Lowest Cost of Ownership Capital & Labor Input vs Work Output Cost of Equipment, Labor, Energy, Maintenance, etc.
Slide 48: Hyster-Yale New Products
Solutions that DRIVE Productivity Hyster-Yale New Products New Euro Stacker Range New RS45 Reachstacker New End Rider
Slide 49: Segmentation - Right Truck at the Right Price Drives Growth
Solutions that DRIVE Productivity Segmentation - Right Truck at the Right Price Drives Growth Test conducted by USAC Properties, Inc Since the launch of the XT/MX, -10% 0% 10% 20% 30% 40% Hyster and Yale Class V Truck Bookings have outpaced the Market ITA HYG
Slide 50: Automation Technologies and Trends
Solutions that DRIVE Productivity Automation Technologies and Trends Dual Mode Flexibility Automated & Operator Driven Technologies Sensors Electronics and Software Model Based Automation Controllers Traffic Manager Communications WiFi Ethernet Cellular V2V Hyster Movematic Pallet Carrier Automated,
Slide 51: HY Automation with Dual Mode Operation
HY Automation with Dual Mode Operation Balyo Collaboration • Strategic Ownership Interest • Seat on the Board Automated Reach Truck • Collaboration with partner • Consumer product customer Internally Developed Automation (IDA) • Sixteen engineers • Dedicated center • Modular approach Solutions that
Slide 52: Lithium-ion Solutions
Solutions that DRIVE Productivity Integrated Lithium-ion Truck ICE like Performance Lithium-ion Solutions Battery Box Replacement Trucks Lithium-ion Ready • High voltage powertrain • Excellent productivity • 6-9T capacity • Fast charge • Food and beverage • Paper industry • Automotive • Cold storage
Slide 53: Fuel Cell Solution
Solutions that DRIVE Productivity Fuel Cell Solution N. America electric trucks sold per year 175,000 + 25-50% Estimated up to can benefit from fuel cell solutions Global 850,000 + electric trucks sold per year 6,087 8,255 9,053 11,715 16,518 21,700 - 5,000 10,000 15,000 20,000 25,000 DOE reported N
Slide 54: Hydrogen Fuel Cells: An Increasingly Accepted Source of Motive Power
Solutions that DRIVE Productivity Hydrogen Fuel Cells: An Increasingly Accepted Source of Motive Power Outcome: Growing customer base sites live operating > 130 units Backlog of over 300 units Strong sales funnel Opportunities of over 800 units Launch to dealer and internal sales channel Strong mark
Slide 55: Integrated Fuel Cell to Enable Big Truck Electrification
Solutions that DRIVE Productivity Integrated Fuel Cell to Enable Big Truck Electrification Electric drives for traction and hydraulics Fuel cell Battery pack HV cable harness NCEA Controls architecture Hydrogen storage Cooling system
Slide 56: Low Cost of Ownership Solutions and Successes – Big Trucks
Low Cost of Ownership Solutions and Successes – Big Trucks TCO KPIs Solutions that DRIVE Productivity Customer – Port Operation: • High productivity • Operating cost • KPIs at different sites • Hyster - Best solution • 2 Year/4,000 hrs. power train warranty • Cost of Operation (TCO) KPIs • Online TC
Slide 57: Telemetry Customer Benefits
Solutions that DRIVE Productivity Telemetry Customer Benefits • $9K/month on impact abuse • Telemetry added to fleet • First impact after installation used to enforce accountability • Immediate reduction in impacts Telemetry Unit Annual Sales Impact related cost reduction of 90% Telemetry system pro
Slide 58: Development of a Smart, Connected Ecosystem
Development of a Smart, Connected Ecosystem Smart Connected Equipment Integrated Service and Automation Lifecycle Analytics and Insights Solutions that DRIVE Productivity Clean, consolidated customer interfaces Integrated Solutions Hydrogen fuel cells Telematics solutions Attachments Automation Cust
Slide 59: Industry Focus: Special Truck Engineering Process
Industry Focus ER Freight Special Truck Engineering (STE) Methodology and Process Meet unique customer needs Objectives Solutions that DRIVE Productivity Design & Verification Production Required Adjustments Planning & Requirements STE Process
Slide 60: Productivity – Right Equipment for Application
Productivity – Right Equipment for Application Solutions that DRIVE Productivity Paper* Paper bale handling Dusty environment - Congested operations Loads in and out of trailers Hot and dusty Varied sized and shaped loads Application Solution Outcome since 2014 Swing out mounting Access to needed to
Slide 61: Our Investment in R&D
Solutions that DRIVE Productivity Our Investment in R&D $71 $70 $72 $78 $83 Lift Truck R&D Investment Est. 2018 2.6% 2.7% 2.9% 2.9% 2.7% % of Revenue $ in millions • Product Development Target - 2.5% of Sales • Actions to Achieve Target Increase revenue Modular architecture India and China developme
Slide 62: Cost of Ownership Summary
Solutions that DRIVE Productivity Cost of Ownership Summary Industry Focus Customer Centric Low Cost of Ownership Application Fit – Modular Operational Integration Global Footprint
Slide 63: Grow in Emerging Markets
Tony Salgado Senior Vice President, JAPIC, Hyster - Yale Group Grow in Emerging Markets
Slide 64: Global Profile of Lift Truck Mix by Market
Global Profile of Lift Truck Mix by Market Opportunity to Grow in Emerging Markets and Utility to Standard Product Segments Solutions that DRIVE Productivity
Slide 65: Emerging versus Mature Lift Truck Market Size
Solutions that DRIVE Productivity Emerging versus Mature Lift Truck Market Size (Last 12 months) MATURE MARKETS 790,900 EMERGING MARKETS 630,275 NORTH AMERICA 278,230 WESTERN EUROPE 381,960 PACIFIC 24,120 JAPAN 86,890 MIDDLE EAST & AFRICA 33,650 INDIAN SUBCONTINENT 14,360 ASIA 66,025 CHINA 399,050 E
Slide 66: Lift Truck Market Growth Potential by Region
Solutions that DRIVE Productivity Lift Truck Market Growth Potential by Region Emerging markets still have very low lift truck usage… _____________________ Source: WITS. 2017 Orders Reports. Population – www.worldometers.info/world-populations by country Lift Truck Market (per million population) Po
Slide 67: Competition is Re-Positioning
Competition is Re-Positioning Solutions that DRIVE Productivity Top Global Manufacturers are increasing product depth into utility and standard product line-up Top Chinese Manufacturers are increasing quality and specification of Utility and Standard product line-up Premium Lift Truck Segment Sub-Ut
Slide 68: Benefits of Product Segment Positioning
Solutions that DRIVE Productivity Benefits of Product Segment Positioning Distinguish the value of standard and premium segments Increase global market participation Support exclusive & independent dealer network Leverage modular and scalable design approach Deliver right tool for right application
Slide 69: Enhance HY Position in Emerging Markets
Solutions that DRIVE Productivity Enhance HY Position in Emerging Markets Opportunity to Expand in Emerging Markets Product Breadth is Mature, Opportunity to Enhance Depth Opportunity to Focus Development on Emerging Markets Expand Production Capabilities to Serve Emerging Markets __________________
Slide 70: Building a Platform to Grow in Emerging Markets
Solutions that DRIVE Productivity Building a Platform to Grow in Emerging Markets • Investing in 75% controlling interest in Zhejiang Maximal Forklift Co., Ltd. • Establishing China-based Emerging Market Development Center Actions: Impact: • Expand low-cost, global manufacturing capabilities • Enhan
Slide 71: About Zhejiang Maximal Forklift Co., Ltd.
About Zhejiang Maximal Forklift Co., Ltd. Source: Audited 2017 financials, Chinese statutory report for all except bookings growth, which is unaudited • Established in 2006 in Fuyang District • Founder & CEO: Mr. JinHong Lu • 600 employees and 1.4 million ft 2 office and factory • Original Equipment
Slide 72: Maximal Overview - Video
Solutions that DRIVE Productivity Maximal Overview - Video
Slide 73: Why Maximal
Solutions that DRIVE Productivity Why Maximal Organization Product People Best Value Best Fit Best Potential • Management • Culture • Local market experience • Production and design capability • Facilities and location • Brand and distribution network • Utility Counterbalance forklifts • Big Trucks
Slide 74: Hyster-Yale Maximal Forklift [Zhejiang] Co., Ltd.
Solutions that DRIVE Productivity Hyster-Yale Maximal Forklift [Zhejiang] Co., Ltd. Investment of $90 Million for 75% controlling interest • 25% ownership to remain with seller and new company CEO • HY will pay up to an additional $10 Million after 3 years as incentive to the seller Closing planned
Slide 75: Near Term Synergy Plan - Operations
Solutions that DRIVE Productivity Near Term Synergy Plan - Operations Rationalize Operations Leverage Cost Advantage Improve Operations Enhance Development Expand Products Optimize Distribution • Consolidate existing China operations • Insource and expand manufacturing • Leverage low cost sourcing •
Slide 76: Near Term Synergy Plan - Development
Solutions that DRIVE Productivity Rationalize Operations Leverage Cost Advantage Improve Operations Expand Products Optimize Distribution Near Term Synergy Plan - Development Enhance Development Leverage local design expertise and regional supply base to deliver right specification at right price Pr
Slide 77: Near Term Synergy Plan - Distribution
Solutions that DRIVE Productivity Near Term Synergy Plan - Distribution Rationalize Operations Leverage Cost Advantage Improve Operations Enhance Development Expand Products Optimize Distribution • Maximize coverage • Maintain two channels to target diverse markets • Optimize product line-up • Apply
Slide 78: Key Investments – First Years
Solutions that DRIVE Productivity Key Investments – First 5 Years Finance Cybersecurity & Licences Acquisition Due Diligence Business Processes Audit & SOX Factory Capacity ERP System Automation & Quality Engineering Core Compliance Engineering Compliance Investment Capability Investment People Inve
Slide 79: Projected Investment Return Summary
Solutions that DRIVE Productivity Projected Investment Return Summary Investment case to deliver accretive earnings with upside potential Upside Opportunities • Expand export and aftermarket opportunities Investment Case Synergy Considerations • Rationalize China production and purchasing • Include
Slide 80: Summary
Solutions that DRIVE Productivity Summary Drive global revenue and absorption through growth in unit and aftermarket sales China investment is fundamental to addressing demand in emerging markets and shifts in product segment mix Drive lower cost production and sourcing Grow share in the global emer
Slide 81: The Attachment Business
Roberto Scotti President and Chief Executive Officer of Bolzoni The Attachment Business
Slide 82: Bolzoni Key Attachment Markets
Solutions that DRIVE Productivity Bolzoni Key Attachment Markets A complete range of attachments to serve material handling industries in the area of forest products, food and beverage, white goods, logistics, chemistry, automotive and many others…
Slide 83: Bolzoni Products
Solutions that DRIVE Productivity Bolzoni Products Paper Roll Clamps Intelligent and standard Pulp & Waste Paper Bale Clamps Carton Clamps Intelligent and standard Multi Pallet Handlers Parallel Clamps Push Pulls Sideshifters and Fork positioners Forks Lifting Tables Specialized Products Rotators
Slide 84: LTM Q1 2018 – Bolzoni Revenue by Product Line
Solutions that DRIVE Productivity LTM Q1 2018 – Bolzoni Revenue by Product Line Attachments 76% Sales outside of Italy = 86.5% of 2017 Global Sales Other Revenues 4% Forks 15% Lift Table 5% $ 186.8 M
Slide 85: Bolzoni in the World
Solutions that DRIVE Productivity Bolzoni in the World Manufacturing plants in Italy, Germany, Finland, United States and China A wide network of direct branches and independent dealers covering all continents to satisfy all market requirements
Slide 86: Bolzoni History
Solutions that DRIVE Productivity Bolzoni History 1950s 1960-1975 Bolzoni foundation (focus on agricultural machinery production) Attachments market entrance (brick fork & fork lift truck attachments) Foreign market entrance (first branch opened in France) Merging with Teko (lifting tables and hand
Slide 87: Net Sales Trend
Solutions that DRIVE Productivity Net Sales Trend CAGR: Years 2000 – 2017 € 43.2 € 76.2 € 78.9 € 75.1 € 84.0 € 94.7 € 107.1 € 145.6 € 141.1 € 76.9 € 93.5 € 115.8 € 119.1 € 121.2 € 119.9 € 138.3 € 137.6 € 157.7 2000 – 2008 +13% 2009 – 2017 +9% (1) (2) (3) (1) Includes (for 10 months) acquisition of F
Slide 88: Strategy: Targeting Additional Customers, by Industry
Solutions that DRIVE Productivity Strategy: Targeting Additional Customers, by Industry The Concept Cultivate customers in certain end-user industry segments to achieve preferred supplier status Priority to EMEA Region and extension to America and JAPIC in the second part of the year
Slide 89: Strategy: Targeting Additional Customers, by Industry
Solutions that DRIVE Productivity Strategy: Targeting Additional Customers, by Industry BEVERAGE WHITE GOODS 3PLs The Target Accounts Dedicated plan for each country Detailed reporting for each target account’s facility PAPER AUTOMOTIVE
Slide 90: Strategy: New Product and Market Concept
Solutions that DRIVE Productivity Strategy: New Product and Market Concept …and many further products to meet the customer demand Designed in Europe Produced in China STANDARD PRODUCT LINE TO MEET GLOBAL MARKET DEMAND Develop Silver Line range High quality Very competitive price Often sold against c
Slide 91: Strategy: Listen to Voice of Customer
Solutions that DRIVE Productivity Strategy: Listen to Voice of Customer SWING FRAME PAPER ROLL CLAMP 2-1 PALLET HANDLER FORK POSITIONER CARTON CLAMP WITH FORCE BALANCE PAD/ Patent pending NEW PRODUCTS FOR NEW APPLICATIONS NEW PRODUCTS AT THE RIGHT TIME CONTINUOUS INNOVATION
Slide 92: Strategy: Align to Major Trends
Solutions that DRIVE Productivity Strategy: Align to Major Trends DEVELOP KNOW-HOW FOR AGV SYSTEMS Support to AGV manufacturers for product customization Learn from advanced experience
Slide 93: Strategy: Leveraging Focused Factories
Solutions that DRIVE Productivity Strategy: Leveraging Focused Factories USA – Homewood – IL FINLAND – Järvenpää GERMANY – Salzgitter ITALY – Piacenza CHINA – Wuxi CHINA – Hebei
Slide 94: Strategy: Expand Fork Business
Solutions that DRIVE Productivity Strategy: Expand Fork Business BOLZONI-AURAMO (HEBEI) – CHINA Increased capacity to 400,000 forks per year Ability to meet special design requests Three automated production lines SALES 2017 vs 2016: +82%
Slide 95: Strategy: Expand China Localization
Solutions that DRIVE Productivity Strategy: Expand China Localization BOLZONI-AURAMO (WUXI) – CHINA Increase product localization to fit Asian market Manufacture parts and components for global factories Lower global cost Lower cost Quicker delivery time
Slide 96: Strategy: Expand Rapidly in US market
Solutions that DRIVE Productivity Strategy: Expand Rapidly in US market BOLZONI AURAMO – USA Enhance people capabilities Produce a complete range of attachments Enhance local design capability Expand production capacity Increase spare parts management Grow the customer base Create specific marketing
Slide 97: Strategy: Enhance Sales of High-Value Paper Roll Clamps
Solutions that DRIVE Productivity Strategy: Enhance Sales of High-Value Paper Roll Clamps AURAMO OY – FINLAND Dedicated plant for paper roll clamps Enhance sales coverage Strengthen presence in US and China Leverage program targeting new customers in the paper industry Continuous new product innovat
Slide 98: Strategy: Expand Capacity and Enhance Production Efficiency in Germany
Solutions that DRIVE Productivity Strategy: Expand Capacity and Enhance Production Efficiency in Germany MEYER GMBH – GERMANY Facility located in Europe’s largest forklift truck market Dedicated plant for multiple-pallet handlers Increase market share in Europe and worldwide Leverage program targeti
Slide 99: Strategy: Synergies with HY
Solutions that DRIVE Productivity Strategy: Synergies with HY Develop Bolzoni as global supplier of attachments & forks to HY globally Accelerate growth of attachment business in North America Leverage Bolzoni manufacturing capacity Achieve procurement and logistics cost savings Increase sales of HY
Slide 100: Strategy: Enhance Strong OEM Relationships
Solutions that DRIVE Productivity Strategy: Enhance Strong OEM Relationships 43% 57% EUROPE 58% AMERICAS 36% OEM 1 29.4% OEM 2 26.7% OEM 3 21.5% OEM 4 16.0% Lift Truck Manufacturers – OEM Lift Truck & Material Handling Dealers 2017 CUSTOMER MIX Managed as separate business segment Separation to main
Slide 101: Why Choose Bolzoni?
Solutions that DRIVE Productivity Why Choose Bolzoni? INTEGRATION SERVICES STRONG TEAM BROAD PRODUCT LINE RIGHT PRODUCT FOR APPLICATION GLOBAL MANUFACTURING LOCATIONS OPERATIONAL EXCELLENCE INDUSTRY FOCUS AFTERMARKET SERVICES CUSTOMERS STRONG OEM RELATIONSHIPS
Slide 102: The Fuel Cell Business
Jon Taylor President and Chief Executive Officer of Nuvera Fuel Cells The Fuel Cell Business
Slide 103: Importance of Fuel Cell for Mobility Growing
Solutions that DRIVE Productivity Importance of Fuel Cell for Mobility Growing Source: KPMG International Automotive key trends https://gaes.kpmg.de/brain.html#automotive-key-trends Global Automotive Executive Trends until 2025 “Fuel cell electric vehicles have replaced battery electric vehicles as
Slide 104: Trends in Alternative Energy
Solutions that DRIVE Productivity Trends in Alternative Energy 90% 30% 24% 24% 21% 25% 24% 26% 25% KPMG surveyed Automotive executives to determine their opinion on the share between ICE, Hybrids, BEV & FCEV in 2030 and 2040. FCEV BEV Hybrids ICE 101.58M 122.66M 140.48M Source: KPMG International’s
Slide 105: Trends in Alternative Energy
Solutions that DRIVE Productivity Trends in Alternative Energy Fuel Cell vehicles offer the range and refueling capability required for mass consumer vehicles Source: Hydrogen Council: http://hydrogencouncil.com/wp-content/uploads/2017/11/Hydrogen-Scaling-up_Hydrogen-Council_2017.compressed.pdf
Slide 106: Trends in Alternative Energy
Solutions that DRIVE Productivity Trends in Alternative Energy Today Source: Hydrogen Council: http :// hydrogencouncil.com/wp - content/uploads/2017/11/Hydrogen - Scaling - up_Hydrogen - Council_2017.compressed.pdf
Slide 107: Business Focus
Solutions that DRIVE Productivity Business Focus Design of Fuel Cell Stacks and Engines Reliability Growth Engineering Manufacture of Fuel Cell Stacks and Engines Sales & Marketing to OEM’s and Partners Development of Hydrogen Compression Technology & Products High technology fuel cell company Integ
Slide 108: Vision and Mission
Solutions that DRIVE Productivity Vision and Mission Achieve break-even operating profit by late Produce ~ 1,000 Nuvera® engines quarterly at target margins AND leverage our technology and expertise through partnerships conversion of existing battery users Our vision is to establish Nuvera as the pr
Slide 109: Nuvera People: Fuel Cells are our Passion
Solutions that DRIVE Productivity Nuvera People: Fuel Cells are our Passion Strengthening Intellectual Property Portfolio • 205 International patents granted • 235 International patents pending • 67 US patents granted • 37 US patents pending • 8 US Provisional patent applications pending Strengtheni
Slide 110: Nuvera Fuel Cell Stack Heritage
Solutions that DRIVE Productivity Nuvera Fuel Cell Stack Heritage First Stack (1993) Andromeda TM (2003 – 2011) • Metallic construction since 1993 • Patented open flow field architecture • High power density XDS-900 (2004 - 2011) (2010 & ongoing) (2019+) Gen2
Slide 111: Lift Truck Power System Optimization: Cost and Robustness
Lift Truck Power System Optimization: Cost and Robustness Solutions that DRIVE Productivity Target Product Cost and Robustness • Approximately 40% reduction in costs by 2019 • Double MTBF (mean time between failure) Driven by • Strengthening supply chain • Internal process improvements • Product des
Slide 112: Nuvera Fuel Cell Engine Design Principles
Solutions that DRIVE Productivity Nuvera Fuel Cell Engine Design Principles Focus on core competencies Leverage technology attributes Optimize engine design Industry & application focus Organization and people High power, efficient and durable Simplification & robust operation Right product/right co
Slide 113: Strategic Focus
Solutions that DRIVE Productivity Strategic Focus BBR and Integrated Lift Truck Solution Large OEM’s Integrators
Slide 114: Business Development Approach
Solutions that DRIVE Productivity Business Development Approach Nuvera Integrators OEM’s L3 Fuel Cell Hybrid Vehicle L2 Fuel Cell Engine L1 Fuel Cell Module L0 Fuel Cell Stack L3 Fuel Cell Hybrid Vehicle L2 Fuel Cell Engine L1 Fuel Cell Module L0 Fuel Cell Stack • Speed to Market • Close to customer
Slide 115: Fuel Cell Engine Solutions
IC Engine Transmission Air Filter FC Engine DC/DC Fuel Cell Engine Solutions Engine Nuvera Engine System Integration Solutions that DRIVE Productivity Air Filter Traditional IC Engine Vehicle Electric / Fuel Cell Refueling 3-10 minutes Clean Fuel Clean Air Power
Slide 116: Fuel Cell Deployment Strategy
Solutions that DRIVE Productivity Fuel Cell Deployment Strategy 10,000 – 50,000 100,000+ Automotive Lift Trucks Industrial Fleets Potential Annual Volume and Nuvera Fit* Stack Optimization Engine Integration Power Modules Experience Knowledge Technology Low Medium High 3,000-10,000 Degree of Fit *Co
Slide 117: Fuel Cell Commercialization Pathway
Solutions that DRIVE Productivity Fuel Cell Commercialization Pathway 100,000+ 10,000 – 50,000 3,000-10,000 Strong supply chain Robust design Economies of scale Experience Knowledge Technology
Slide 118: Expansion of Product Line
Solutions that DRIVE Productivity Expansion of Product Line Demonstration in critical port application in California Performance benefits • Metal plates – higher durability • High power density • Open flow field – improved fuel efficiency Modular, easily integrated solution 2019 Heavy duty engine Le
Slide 119: Future Non-Lift Truck Growth Opportunities
Solutions that DRIVE Productivity Future Non-Lift Truck Growth Opportunities Heavy duty applications Port equipment Delivery vehicles Buses China market entry Market research Local industry engagement Engaging System Integrator(s) OEM product evaluation Low cost sourcing
Slide 120: China Market Research and Engagement
Solutions that DRIVE Productivity China Market Research and Engagement Engaged China-based market research and segmentation study • Significant government incentives driving market interest • Several companies are early entrants, but market open to other partners • Nuvera technology is a strong fit
Slide 121: The Nuvera Plan 2018+
Solutions that DRIVE Productivity The Nuvera Plan 2018 + At At Lift Truck Business • Further develop engines for the lift truck market • Utilize Reinstated US Tax Credit • Introduce higher-power engines to enter new markets • Leverage EU growth opportunities • Leverage OEM / Integrators opportunitie
Slide 122: Financial Overview
Ken Schilling Senior Vice President and Chief Financial Officer Hyster-Yale Materials Handling / Hyster-Yale Group Financial Overview
Slide 123: Results for 2017 Consolidated vs. 2016
Solutions that DRIVE Productivity Results for 2017 Consolidated vs. 2016 Full Year ($ in millions) HY HY Lift Truck (3) Bolzoni (3) Nuvera (3) 2017 2016 Variance _____________________ (1) EBITDA and ROTCE are non-GAAP measures and should not be considered in isolation or as a substitute for GAAP mea
Slide 124: Results for Q1 2018 Consolidated vs. Q1 2017
Solutions that DRIVE Productivity Results for Q1 2018 Consolidated vs. Q1 2017 ($ in millions) HY HY Lift Truck (2) Bolzoni (2) Nuvera (2) Q1 2018 Q1 2017 Variance Hyster-Yale’s business units are at different stages, which makes the variance best understood by individual business unit _____________
Slide 125: Hyster-Yale
| @)) HYSTER-YALE
Slide 126: Lift Truck Summary
Solutions that DRIVE Productivity Lift Truck Summary Q1 2018 Q1 2017 Variance Revenues $743.3 $672.2 $71.1 Gross Profit $116.1 $112.9 $3.2 Operating Expenses ($89.5) ($83.1) ($6.4) Operating Profit $26.6 $29.8 ($3.2) Net Income $20.7 $22.3 ($1.6) EBITDA (1) $38.0 $40.1 ($2.1) Key Metrics: Operating
Slide 127: Bolzoni Summary
Solutions that DRIVE Productivity Bolzoni Summary Bolzoni Bolzoni Q1 2018 Q1 2017 Variance ($ in millions) Financial Results Trends: • Bolzoni continues investment in strategic growth programs • Global attachment volume driven by new Class 1, 4 & 5 forklift truck volumes • Strengthening presence out
Slide 128: Nuvera Summary
Solutions that DRIVE Productivity Nuvera Summary Nuvera Nuvera Q1 2018 Q1 2017 Variance Revenues $0.3 $2.6 ($2.3) Gross Profit ($0.9) ($0.6) ($0.3) Operating Expenses ($9.1) ($8.9) ($0.2) Operating Loss ($10.0) ($9.5) ($0.5) Net Loss ($7.3) ($5.7) ($1.6) EBITDA (1) ($9.1) ($9.0) ($0.1) Key Metrics:
Slide 129: Consolidated Key Financial Metrics
Consolidated Key Financial Metrics LTM 3/31/18 Year Ended 12/31/17 Variance Fav/(Unfav ) Solutions that DRIVE Productivity Working Capital, Cash Flow and Capitalization Working Capital (1) $463.1 $461.0 ($2.1) LTM Cash Flow before Financing (2) $44.0 $117.4 ($73.4) Adjusted LTM Cash Flow before Fina
Slide 130: Hyster-Yale Use of Cash Priorities
Solutions that DRIVE Productivity Hyster-Yale Use of Cash Priorities Return Cash to Stockholders Investments in Adjacent or Complementary Businesses Investments in Fuel Cell Business Investments in Share Gain Programs Investments in Lift Truck & Attachments Businesses Strategic initiatives to accele
Slide 131: Key Capital Investments
Solutions that DRIVE Productivity Key Capital Investments 0.0 10.0 20.0 30.0 40.0 50.0 60.0 Est. 2018* Bolzoni Nuvera New Brazil Plant SAP & CRM/CPQ Core Forklift Investments Capital expenditures directed to support key HY lift truck initiatives along with development of Nuvera and Bolzoni products
Slide 132: Maximal Acquisition
Solutions that DRIVE Productivity Maximal Acquisition • Timing: Targeted Q2 2018 closing • Acquisition Price: $90m for 75% ownership stake • 2017 Performance * – 6,765 unit volume; $77m revenue; 4.2% operating profit margin • Additional Incremental Expenses – $5-10m spend in 2018/early 2019 – 80% op
Slide 133: Dividend Growth
Solutions that DRIVE Productivity Dividend Growth Annual Dividends Amount Paid in Total and Annualized $ Per Share (total $ in millions) ($ per share annualized) Share Repurchase Program: Approximately 694,700 Class A shares repurchased for $49.8m during 2013 and 2014. (1) Dividend decisions are mad
Slide 134: 2018 Earnings Perspective - Lift Truck Business
Solutions that DRIVE Productivity 2018 Earnings Perspective - Lift Truck Business Unit and Parts Volumes FY 2018 : Overall global lift truck market expected to grow modestly in 2018 compared to 2017. Expected unit and parts revenue increases driven by continued investments in HY's strategic initiati
Slide 135: 2018 Earnings Perspective - Bolzoni Attachment Business
Solutions that DRIVE Productivity 2018 Earnings Perspective - Bolzoni Attachment Business Revenues FY 2018: Bolzoni expects revenues in 2018 to increase compared with 2017 as a result of anticipated growth in both the Americas and EMEA and continued implementation of sales enhancement programs. Net
Slide 136: 2018 Earnings Perspective - Nuvera Fuel Cell Business
Solutions that DRIVE Productivity Earnings Perspective - Nuvera Fuel Cell Business Revenues FY 2018 : Nuvera expects demand to continue to increase throughout the year. Net Loss/ EBITDA FY 2018 : The net loss in 2018 is expected to be comparable to 2017 due to smaller tax benefit . The Company's cur
Slide 137: Lift Truck Business Target Economics Goal and Gap to Target
Solutions that DRIVE Productivity Lift Truck Business Target Economics Goal and Gap to Target Achieve 7% operating profit margin target over the medium term Maintain ROTCE > 20% Target Economics gap closure can be achieved with unit volume… Stronger Industry + Share Growth = Volume Leverage LTM 3/31
Slide 138: HY Lift Truck Incremental Volume Leverage
Solutions that DRIVE Productivity HY Lift Truck Incremental Volume Leverage Incremental Units Produced +5,000 Trucks Sales $186m Gross Profit $37m Operating Expenses $16m Operating Profit $21m Incremental Operating Profit % 11.0% As we make progress toward the 115,000 unit production levels, HY Lift
Slide 139: Target Economics at 115,000 Lift Trucks Produced
Solutions that DRIVE Productivity Lift Trucks Produced in HY plants 115,000 Target Economics Lift Trucks Sold 124,000 Revenues $3,920 Gross Profit $725 Operating Expenses $450 Operating Profit $275 Operating Margin 7.0% HY Lift Truck Target is to move from significant loss to break even in late 2019
Slide 140: Prospects for Volume Growth
Alfred Rankin Chairman , President and CEO Hyster - Yale Materials Handling Chairman Hyster -Yale Group Prospects for Volume Growth
Slide 141: Key Perspectives to Emphasize
Key Perspectives to Emphasize Solutions that DRIVE Productivity Global markets expected to be strong for next several years Investments to expand HY’s product and solutions portfolio and geographic breadth and depth Core lift truck programs aim to trigger organic growth through intensified industry
Slide 142: One Set of Strategies, Different Priorities for Execution
Solutions that DRIVE Productivity One Set of Strategies, Different Priorities for Execution Americas Full execution of strategies Significant investment to enhance share Increased dual-brand coverage Europe, Middle East, Africa Industry and customer solutions Low cost of ownership Distribution enhan
Slide 143: Key Developments Since Last Investor Day
Solutions that DRIVE Productivity Key Developments Since Last Investor Day Nuvera strategy implementation – clear focus Bolzoni fully integrated and performing well Improved financial performance in core lift truck business Developments in automation and key product platforms Industry focus with new
Slide 144: Long-Term Focused, not Short-Term Oriented
Solutions that DRIVE Productivity Long-Term Focused, not Short-Term Oriented Investing for the Future Leverage, but also control, our expense structure With the ability to
Slide 145: Committed to Lift Truck Financial Targets
Solutions that DRIVE Productivity Committed to Lift Truck Financial Targets Operating profit margin With adequate volume growth, the Lift Truck business can achieve
Slide 146: With Lift Truck Performance Supplemented by Acquisitions
Solutions that DRIVE Productivity With Lift Truck Performance Supplemented by Acquisitions * * Acquisition of 75% of Maximal announced in December 2017. As of the date of this presentation, the acquisition has not yet closed.
Slide 147: Valuation Approach Needs to Vary By Business
Solutions that DRIVE Productivity Valuation Approach Needs to Vary By Business Lift Truck and Attachment Businesses Lift Truck and Attachment Businesses Fuel Cell Business Fuel Cell Business • Board Oversight as Separate Businesses • Incentives Tied to Individual Businesses Strong Operating Cash Gen
Slide 148: A Solid Investment Option
Solutions that DRIVE Productivity A Solid Investment Option HYSTER-YALE HYSTER-YALE Strong Balance Sheet Cash Generation & Commitment to Shareholder Return Investment & Growth in Game Changing Technologies Leading Products & Market Position Strategies to Gain Share in all Segments & Markets Customer
Slide 149: Questions?
Solutions that DRIVE Productivity Questions? ir@hyster-yale.com Subject: Investor Day Question
Slide 150: Appendix
Solutions that DRIVE Productivity Appendix Appendix
Slide 151: Non-GAAP Disclosure
Non-GAAP Disclosure Solutions that DRIVE Productivity EBITDA and return on total capital employed are not measurements under U.S. GAAP, should not be considered in isolation or as a substitute for GAAP measures, and are not necessarily comparable with similarly titled measures of other companies. Hy
Slide 152: Non-GAAP Reconciliation
Non-GAAP Reconciliation Solutions that DRIVE Productivity ($ in millions) Year Ended December 31 Qtr. Qtr. Consolidated 3/31/2017 3/31/2018 3/31/2018 Reconciliation of EBITDA Net income attributable to stockholders $ 110.0 $ 109.8 $ 74.7 $ 42.8 $ 48.6 18.1 $ 14.9 $ $ 45.4 Nuvera asset impairment - -
Slide 153: Non-GAAP Reconciliation (continued)
Solutions that DRIVE Productivity Non-GAAP Reconciliation (continued) ($ in millions) Qtr. Qtr. Nuvera 3/31/2017 3/31/2018 3/31/2018 Reconciliation of EBITDA Net loss attributable to stockholders $ (1.4) $ (14.6) $ (23.8) $ (26.7) (5.7) $ (7.3) $ $ (28.3) Nuvera asset impairment - - - 4.9 - - 4.9 No
Slide 154: Non-GAAP Reconciliation (continued)
Non-GAAP Reconciliation (continued) Actual return on capital employed percentage 9.2% 17.3% n/m 2.8% Adjusted return on capital employed percentage 12.2% 21.0% n/m 2.9% Solutions that DRIVE Productivity _____________________ Note: Return on capital employed is provided solely as a supplemental discl
Slide 155: Non-GAAP Reconciliation (continued)
Non-GAAP Reconciliation (continued) Actual return on capital employed percentage 8.7% 17.1% n/m 3.0% Adjusted return on capital employed percentage 11.7% 20.8% n/m 3.1% Solutions that DRIVE Productivity _____________________ Note: Return on capital employed is provided solely as a supplemental discl
Slide 156: Non-GAAP Reconciliation (continued)
Non-GAAP Reconciliation (continued) Actual return on capital employed percentage 9.7% 18.6% n/m 1.2% Solutions that DRIVE Productivity _____________________ Note: Return on capital employed is provided solely as a supplemental disclosure with respect to income generation because management believes
Slide 157: Cash Flow before Financing Calculation
Solutions that DRIVE Productivity Cash Flow before Financing Calculation Consolidated ($ in millions) Year Ended December 31 Qtr. Trailing 12 Months 3/31/2018 3/31/2018 Reconciliation of Cash Flow before Financing $152.9 $100.0 $89.4 $(48.9) $164.7 $28.5 $91.2 Net cash used for investing activities
Slide 158: Biography: Alfred M. Rankin, Jr.
Biography Solutions that DRIVE Productivity Alfred M. Rankin, Jr. Chairman, President and Chief Executive Officer of Hyster-Yale Materials Handling Chairman, Hyster-Yale Group Mr. Rankin became Chairman, President and Chief Executive Officer of Hyster-Yale Materials Handling, Inc. in September 2012
Slide 159: Biography: Colin Wilson
Solutions that DRIVE Productivity Biography Colin Wilson President and Chief Executive Officer , Hyster-Yale Group Colin Wilson became President and Chief Executive Officer of Hyster-Yale Group in September 2014 and is charged with providing the strategic vision and global leadership that keeps Hyst
Slide 160: Biography: Rajiv K. Prasad
Solutions that DRIVE Productivity Biography Rajiv K. Prasa d Chief Product and Operations Officer As Chief Product and Operations Officer, Mr. Prasad guides all aspects of the Hyster-Yale Group product development, manufacturing and supply chain. His ultimate responsibility is to ensure that the pro
Slide 161: Biography: Anthony J. Salgado
Solutions that DRIVE Productivity Biography Anthony J. Salgado Senior Vice President, JAPIC Mr. Salgado joined Hyster-Yale Group in 2016 as Senior Vice President, responsible for the company’s businesses and interests in the Japan, Asia Pacific, India and China regions. Prior to joining the group, M
Slide 162: Biography: Roberto Scotti
Solutions that DRIVE Productivity Biography Roberto Scotti President and Chief Executive Officer of Bolzoni S.p.A. Roberto Scotti obtained his high school diploma in mechanical engineering in 1970. From 1970 to 1973 he attended the faculty of Mechanical Engineering at the University of Milan. From 1
Slide 163: Biography: Jon Taylor
Solutions that DRIVE Productivity Biography Jon Taylor President and Chief Executive Officer of Nuvera Fuel Cells Mr. Taylor became President and Chief Executive Officer of Nuvera Fuel Cells in April 2015. Previously, Mr. Taylor was the Interim CEO of Nuvera from December 2014 and Vice President, Bu
Slide 164: Biography: Kenneth C. Schilling
Solutions that DRIVE Productivity Biography Kenneth C. Schilling Senior Vice President, Chief Financial Officer Mr. Schilling oversees public financial reporting, accounting, tax compliance and strategies, treasury activities and investor relations at Hyster-Yale. Most recently, Mr. Schilling was Vi
Slide 165: Biography: Christina Kmetko
Solutions that DRIVE Productivity Biography Christina Kmetko, CPA, IRC Investor Relations Ms. Kmetko is the President and Owner of Evergreen Consulting & Associates, L.L.C., formed in January 2010, which provides investor relations support to Hyster-Yale Materials Handling, Inc. and NACCO Industries
Slide 166: The History of Hyster-Yale and its brands
Solutions that DRIVE Productivity The History of Hyster-Yale and its brands Hyster founded in Portland Oregon as the Willamette Ersted Company Company name officially changed to Hyster Company First Hyster container handling trucks Yale Lock Mfg. broadens its scope into materials handling Yale and T
Slide 167: Nuvera History
Solutions that DRIVE Productivity Nuvera History 2004 2012 2000 2016 2008 Headquarters, Billerica MA EU Offices and Testing Facilities, San Donato, Italy • Formed April, 2000 • Over years of hydrogen and fuel cell experience • Certified: ISO 9001, 14001, OHSAS 18001 Hess buys out Arthur D. Little Re
Hyster-Yale Materials Handling — Investor Day (May 2018) on 6ix