Albany International Corporation · NYSE:AIN
Albany International — Q4 2017 Earnings Presentation
9 slides from Albany International's earnings presentation, Feb 5, 2018
Slide 1: Q4 Financial Performance
Q4 Financial PerformanceFebruary 5, 2018
Slide 2: Non-GAAP Items and Forward-Looking Statements
‘Non-GAAP’ Items and Forward-Looking StatementsThis presentation contains the following non-GAAP measures:Percentage changes in net sales, excluding currency rate effects (for each segment, and the Company as a whole);Adjusted EBITDA (for each segment, and the Company as a whole; absolute and as a p
Slide 3: Net Sales by Segment
Net Sales by Segment 3 (in thousands, except percentages) Net SalesThree Months endedDecember 31, 2017 2016 PercentChange Impact of Changesin CurrencyTranslation Rates Percent Changeexcluding Currency Rate Effect Machine Clothing (MC) $150,263 $144,744 3.8% $4,382 0.8% Albany Engineered Composites (
Slide 4: Gross Profit Margin by Quarter
Gross Profit Margin by QuarterPercentage of Net Sales 4 Includes 7.3% impact from profitability revision in two AEC contracts
Slide 5: Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment
Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment 5 Three Months ended December 31, 2017 (in thousands) Machine Clothing Albany Engineered Composites Corporate expenses and other Total Company Operating income/(loss) (GAAP) $34,584 $585 $(12,605) $22,564 Interest, taxes, other income/expen
Slide 6: Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment
Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment 6 Year ended December 31, 2017 (in thousands) Machine Clothing Albany Engineered Composites* Corporate expenses and other Total Company Operating income/(loss) (GAAP) $153,936 $(31,657) $(46,128) $76,151 Interest, taxes, other income/expens
Slide 7: Earnings Per Share
7 Earnings Per Share Per share amounts (Basic) Three Months endedDecember 31, 2017 2016 Years endedDecember 31, 2017 2016 Net income attributable to the Company, as reported (GAAP) $0.12 $0.49 $0.96* $1.64 Adjustments: Restructuring expenses, net 0.07 0.01 0.27 0.16 Discrete tax adjustments and effe
Slide 8: Impact of U.S. Tax Reform
Impact of U.S. Tax Reform Fourth Quarter 2017:Discrete, mostly non-cash, tax charge of $7 million related to:Revaluation of net U.S. deferred tax assets to 21% - $1 millionMandatory deemed repatriation liability - $6 millionBased on Company’s current estimates, to be refined as more information beco
Slide 9: Total Debt (GAAP) and Net Debt (non-GAAP)
Total Debt (GAAP) and Net Debt* (non-GAAP)$ thousands 9 *Total debt less cash see table 20 for reconciliation of total debt to net debt