Slide 1: 2005 Third Quarter Earnings Call
- -------------------------------------------------------------------------------- [TRIMAS CORPORATION LOGO] 2005 THIRD QUARTER EARNINGS CALL NOVEMBER 14, 2005 - -------------------------------------------------------------------------------- [PICTURES OMITTED] [TRIMAS CORPORATION LOGO] SAFE HARBOR
Slide 2: 2005 Third Quarter Financial Highlights
- -------------------------------------------------------------------------------- [TRIMAS CORPORATION LOGO] 3 2005 THIRD QUARTER FINANCIAL HIGHLIGHTS - -------------------------------------------------------------------------------- o TriMas had sales of $270.9 million in the quarter, representing
Slide 3: Debt, Working Capital and Liquidity
o Total debt and securitization at September 30, 2005 was $753.9 million, a decrease of approximately $30 million compared to June 30, 2005. o Due principally to better inventory management, aggressive collection of receivables, lower capital expenditures and reduction of restructuring, consolidatio
Slide 4: 2005 Third Quarter Operating Highlights: Rieke Packaging Systems
2005 THIRD QUARTER OPERATING HIGHLIGHTS - -------------------------------------------------------------------------------- RIEKE PACKAGING SYSTEMS o Net sales for the quarter were $34.3 million, up 3.8% compared to third quarter 2004. o In the third quarter 2005, core product sales decreased 2.6%, w
Slide 5: Operating Highlights: Industrial Specialties
o Sales within our Lamons specialty gasket business increased 16.3% compared to third quarter 2004 as a result of significant oil refinery "turnaround" activity at several major customers. o Compac's sales in the quarter increased 2.9% compared to Q3 2004 due to the strength in residential building
Slide 6: Adjusted EBITDA and Memo Items
% Margin .......................................... 9.9% 12.1% -2.2% 11.1% 12.7% -1.6% MEMO ITEMS - ------------------------------------------------------- Restructuring, consolidation and integration costs(2).. $ (0.6) $ (3.5) $ 2.9 $ (3.5) $ (13.3) $ (9.4) Asbestos lititgation defense costs ......
Slide 7: 2005 Focus and Priorities: In Summary
group, Cequent is focused on: o Lowering its fixed cost base o Reducing selling, general and administrative expenses o Shrinking the group's manufacturing and distribution footprint o Fully utilizing our low cost Mexican operations o Lowering its variable cost o Reducing SKU complexity o Driving off
Slide 8: Condensed Balance Sheet
[PICTURES OMITTED] [TRIMAS CORPORATION LOGO] APPENDIX [PICTURES OMITTED] CONDENSED BALANCE SHEET - -------------------------------------------------------------------------------- ($ IN MILLIONS) - ------------------------------------------------------------------------------------------ SEP. 30, DE
Slide 9: Income Statement, Three Months Ended September 30
- -------------------------------------------------------------------------------- FOR THE THREE MONTHS ENDED SEPTEMBER 30, - -------------------------------------------------------------------------------- 2005 2004 ----------- ----------- Net sales .......................................... $ 270.
Slide 10: Cash Flow and Adjusted EBITDA Reconciliation
Taxes paid .............................................. (2.6) (2.2) (8.4) (8.7) Legacy stock award expense paid ......................... - - - (5.4) (Gain) loss on dispositions of plant and equipment ...... 0.3 (0.3) 0.4 (0.1) Payments to Metaldyne to fund contractual liabilities ... - - (0.3) (4
Slide 11: Bank EBITDA - LTM Ended September 30, 2005
Other non-cash expenses or losses ................................. 17.8 Non-recurring expenses or costs for cost savings projects ......... 6.9 Non-cash expenses related to equity grants ........................ 0.4 ---------- - ----------------------------------------------------------------------