Albany International Corporation · NYSE:AIN
Albany International — Q1 2014 Earnings Presentation
7 slides from Albany International's earnings presentation, May 5, 2014
Slide 1: Albany International Corp. Q1 Financial Performance
Albany International Corp. Q1 Financial Performance May 5, 2014
Slide 2: Non-GAAP Items and Forward-Looking Statements
‘Non‐GAAP’ Items and Forward‐Looking Statements This presentation contains certain items, such as net income attributable to the Company, excluding adjustments, earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA and net debt, that could be considered ‘non‐GAAP’
Slide 3: Net Sales by Segment
Net Sales by Segment (in thousands) Net Sales Three Months ended March 31, 2014 2013 Percent Change Impact of Changes in Currency Translation Rates Percent Change excluding Currency Rate Effect Machine Clothing (MC) 164,088 $167,409 -2.0% $782 -2.5% Albany Engineered Composites (AEC) 16,219 19,245 -
Slide 4: Gross Profit Margin by Quarter
Gross Profit Margin by Quarter Percentage of Net Sales 44.2% 43.8% 41.6% 41.7% 45.0% 39.0% 39.1% 37.1% 38.2% 41.5% 30% 35% 40% 45% 50% 55% Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Machine Clothing Total Company
Slide 5: Earnings Per Share
Earnings Per Share Per share amounts (Basic) Three Months ended March 31, 2014 2013 Net income attributable to the Company, reported $0.33 $0.37 Adjustments: Restructuring charges $0.02 $0.01 Income tax adjustments $0.03 $0.01 Foreign currency revaluation gains ($0.01) ($0.01) Gain on the sale of a
Slide 6: Adjusted EBITDA
Adjusted EBITDA Three Months ended March 31, 2014 (in thousands) Machine Clothing Albany Engineered Composites Corporate expenses and other Total Company Net income $36,142 ($3,475) ($21,974) $10,693 Interest expense, net - - 2,918 2,918 Income tax expense - - 7,457 7,457 Depreciation and amortizati
Slide 7: Net Debt
Net Debt $ millions $255.9 $129.0 $81.8 $94.0 $0 $50 $100 $150 $200 $250 $300 $350 Dec. 2011 Dec. 2012 Dec. 2013 Mar. 2014