Slide 1: Fourth Quarter and Full Year 2021 Earnings Presentation
Fourth Quarter and Full Year 2021 Earnings Presentation March 1, 2022
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas’ business, financial condition or future results, invol
Slide 3: Full Year 2021 Highlights
Full Year 2021 Highlights TriMas Delivered Strong 2021 Results Advancing TriMas’ Strategy ▪ Leveraged TriMas Business Model to navigate through pandemic- 22% related uncertainty, demand fluctuations and inflationary pressures TriMas Aerospace ▪ Solid sales and earnings performance, with exceptional
Slide 4: Investments in Our Businesses
Investments in Our Businesses Continuing to Invest for the Future TriMas Packaging TriMas Aerospace Specialty Products ▪ Launching highly-automated plant in New ▪ Fulfilled ~$30 million in special stocking ▪ Norris Cylinder achieved Albany, Ohio orders for certain customers “Made In USA” designation
Slide 5: Recent TriMas Acquisitions
Recent TriMas Acquisitions Further Expands Our Offerings into Life Sciences Market ▪ Specializes in custom injection molding for products used in ▪ Manufactures custom components and devices for drug medical applications, as well as consumer and industrial delivery, diagnostic and orthopedic medical
Slide 6: Fourth Quarter and Full Year Results
Fourth Quarter and Full Year Results Adjusted for Special Items Q4 2021 Q4 2020 FY 2021 FY 2020 Net Sales $209.0 $188.2 $857.1 $770.0 FY 2021 FY 2021 FY 2021 Operating Profit $24.5 $21.1 $112.8 $100.2 ADJUSTED EBITDA SALES GROWTH ADJUSTED EPS Operating Profit Margin 11.7% 11.2% 13.2% 13.0% 11.3% $2.
Slide 7: Strong Balance Sheet and Cash Flow
Strong Balance Sheet and Cash Flow Strong cash flow and liquidity to December 31, December 31, invest in our strategic initiatives Key Credit Statistics 2021 2020 ▪ 2021 Free Cash Flow(3) of $99.6 million, Total Debt $393.8 $346.3 approximately 123% of net income Less: Cash $140.7 $74.0 Net Debt $25
Slide 8: TriMas Packaging Segment
TriMas Packaging Segment Results & Forward Perspective Adjusted for Special Items Q4 2021 Q4 2020 Net Sales $123.5 $124.3 Operating Profit $22.1 $24.2 Operating Margin 17.9% 19.4% Adjusted EBITDA(1) $29.7 $30.3 Adjusted EBITDA Margin 24.0% 24.3% Quarterly Takeaways Forward Perspective ▪ Sales were r
Slide 9: TriMas Aerospace: Trending Ahead of Aerospace Market Recovery
TriMas Aerospace Trending Ahead of Aerospace Market Recovery 2021 sales would have been ~$155 2022 anticipated sales, at the million when normalizing for the 2021 midpoint, are forecasted to be up special stocking orders +20% vs. “normalized” 2021 Commercial Jet Production(2) Pandemic Cumulative Cha
Slide 10: TriMas Aerospace Segment
TriMas Aerospace Segment Results & Forward Perspective Adjusted for Special Items Q4 2021 Q4 2020 Net Sales $47.7 $37.1 Operating Profit $3.5 $0.5 Operating Margin 7.4% 1.3% Adjusted EBITDA(1) $8.3 $5.0 Adjusted EBITDA Margin 17.4% 13.5% Quarterly Takeaways Forward Perspective ▪ Sales up 28.5% prima
Slide 11: TriMas Specialty Products Segment
TriMas Specialty Products Segment Results & Forward Perspective Adjusted for Special Items Q4 2021 Q4 2020 Net Sales $37.8 $26.8 Operating Profit $5.4 $3.5 Operating Margin 14.2% 13.0% Adjusted EBITDA(1) $6.4 $4.5 Adjusted EBITDA Margin 17.0% 16.7% Quarterly Takeaways Forward Perspective ▪ Sales inc
Slide 12: Forward Expectations
Forward Expectations As of March 1, 2022 FY 2022 Outlook Core Aerospace Stocking and Orders Acquisition Growth Tax Rate FREE CASH FLOW SALES GROWTH ADJUSTED EPS 8% to 11% $2.25 to $2.35 >100% 2021 Adjusted 2022 Outlook vs. 2021 2022 Adjusted of Net Income EPS Adjusted EPS Bridge EPS $2.24 $2.25 to $
Slide 13: TriMas’ Value Drivers
TriMas’ Value Drivers Packaging Market M&A Augmented Treasury Commitment to at Our Core Recoveries Growth Actions ESG ▪ Products that help ▪ Well positioned as ▪ Expanding ▪ Proactively ▪ Operating TriMas in fight the spread of industrial and Packaging and managing strong a way to positively germs a
Slide 14: TriMas Q&A
TriMas Q&A Packaging Aerospace & Industrials Our Vision To provide innovative products of exceptional performance and value through market-leading brands. Strong Brand Names Diverse End Markets Innovative Product Solutions 14
Slide 15: Appendix
Appendix TriMas
Slide 16: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet December 31, December 31, 2021 2020 Assets Current assets: Cash and cash equivalents $ 140,740 $ 73,950 Receivables, net 125,630 113,410 Inventories 152,450 149,380 Prepaid expenses and other current assets 12,950 15,090 Total current assets 431,770 351,830 Prope
Slide 17: Consolidated Statement of Operations
Consolidated Statement of Operations Three months ended Twelve months ended December 31, December 31, 2021 2020 2021 2020 (unaudited) Net sales $ 208,970 $ 188,170 $ 857,110 $ 769,970 Cost of sales (159,580) (141,620) (639,920) (587,890) Gross profit 49,390 46,550 217,190 182,080 Selling, general an
Slide 18: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Twelve months ended December 31, 2021 2020 Cash Flows from Operating Activities: Net income (loss) $ 57,310 $ (79,760) Adjustments to reconcile net income to net cash provided by operating activities, net of acquisition impact: Impairment of goodwill and indefini
Slide 19: Company and Segment Financial Information
Company and Segment Financial Information Three months ended Twelve months ended YOY Growth % December 31, December 31, Organic Acquisitions Fx Total 2021 2020 2021 2020 Packaging Q4 2021 vs. Q4 2020 Net sales $ 123,530 $ 124,340 $ 533,260 $ 488,340 Consolidated TriMas 7.3% 4.1% -0.3% 11.1% Operatin
Slide 20: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended Twelve months ended December 31, December 31, 2021 2020 2021 2020 Net income (loss), as reported $ 12,820 $ 23,690 $ 57,310 $ (79,760) Special Items to consider in evaluating quality of net income (loss): Impairment of goodwill and indef
Slide 21: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended December 31, 2021 2020 As reported Special Items As adjusted As reported Special Items As adjusted Net cash provided by operating activities $ 56,480 $ 2,630 $ 59,110 $ 48,300 $ 1,350 $ 49,650 Less: Capital expenditures (15,210) - (15,21
Slide 22: Additional Information on Non-GAAP Measures
Additional Information on Non-GAAP Measures Three months ended Twelve months ended December 31, December 31, 2021 2020 2021 2020 Net income (loss), as reported $ 12,820 $ 23,690 $ 57,310 $ (79,760) Depreciation expense 8,150 7,320 31,890 29,020 Amortization expense 5,410 5,290 21,560 20,750 Interest
Slide 23: Additional Information on Non-GAAP Measures
Addition Information on Non-GAAP Measures As of March 1, 2022 Full Year 2021 GAAP to Non-GAAP EPS Outlook Reconciliation Twelve months ended Three months ended March 31 December 31, 2022 Low High Diluted earnings per share (GAAP) $ 1.89 $ 1.99 Pre-tax amortization of acquisition-related intangible a