Cooper-standard Holdings Inc. · NYSE:CPS
Cooper-standard — Q3 2012 Earnings Presentation
16 slides from Cooper-standard's earnings presentation, Nov 9, 2012
Slide 1: Third Quarter 2012 Earnings Call
Cooper Standard Third Quarter 2012 Earnings Call November 9, 2012 Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act, reflecting management’s current analysis and expectations, based on what are believed to be reasonable assumptions. The words “estimates,” “expects,”
Slide 3: Jeff Edwards Introduction
Jeff Edwards Introduction • Joined Cooper Standard October 15, 2012 • Twenty-eight plus years in automotive industry • Progression of key roles with Johnson Controls, Inc. including lead automotive positions in Asia and North America
Slide 4: First Hundred Day Plan
First Hundred Day Plan • Global tour to uncover opportunities • Review technologies and innovation pipeline • Align organization structure • Prioritize and accelerate initiatives for growth • Grow Asian business • Accelerate European turnaround
Slide 5: Q3 and Year-to-Date 2012 Revenue
Q3 and Year-to-Date 2012 Revenue $ USD Millions Q3 2011 Revenue: $708.5 Q3 2012 Revenue: $684.0 YTD 2011 Revenue: $2,157.8 YTD 2012 Revenue: $2,183.8 Note: Numbers subject to rounding
Slide 6: Q3 and Year-to-Date 2012 Performance
Q3 and Year-to-Date 2012 Performance $ USD Millions, except per share amounts Q3 2011 Q3 2012 YTD 2011 YTD 2012 Sales 708.5 684.0 2,157.8 2,183.8 Gross Profit 108.6 103.1 353.0 339.2 SGA 64.4 65.4 190.9 206.4 Operating Profit 33.7 23.6 102.3 105.4 Net Income 15.7 11.6 79.6 112.7 Fully Diluted EPS $0
Slide 7: Non-consolidated Joint Venture Sales
Joint Venture Partner Product Country Cooper Standard Non-consolidated Joint Venture Sales- Q3 2012 34% Huayu-Cooper Sealing SAIC/HASCO Sealing China Nishikawa Cooper Nishikawa Rubber Sealing U.S. Nishikawa Tachaplalert Cooper Nishikawa Rubber Sealing Thailand Sujan CSF India Magnum Elastomers AVS I
Slide 8: Q3 and Year-to-Date 2012 Cash Flow
Q3 and Year-to-Date 2012 Cash Flow Note: Numbers subject to rounding ($ USD Millions) Q3 2012 YTD Q3 2012 Cash from business 42.4 165.4 Pension funding - US (3.3) (26.8) Changes in operating assets & liabilities (26.3) (160.6) Cash provided by / (used in) operations 12.8 (22.0) Capital expenditures
Slide 9: Liquidity as of September 30, 2012
Liquidity as of September 30, 2012 Cash on Balance Sheet $217.8 ABL Revolver 125.0 Letters of Credit (27.6) Total Liquidity $315.2 Strong balance sheet and liquidity to support growth • ABL Revolver undrawn • Net leverage = $264.4 million • Net leverage ratio = 0.9 • Interest coverage ratio = 6.8 •
Slide 10: 2012 Guidance
2012 Guidance * Sales guidance is based on North American production of 15.1 million, and Europe (including Russia) production of 19.0 million. Revenue
Slide 11: Questions & Answers
Questions & Answers
Slide 12: Cooper Standard logo
G CooperStandard
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures EBITDA and adjusted EBITDA are measures not recognized under Generally Accepted Accounting Principles (GAAP) which exclude certain non-cash and non-recurring items. When analyzing the company’s operating performance, investors should use EBITDA and adjusted EBITDA in addi
Slide 14: EBITDA and Adjusted EBITDA Reconciliation
EBITDA and Adjusted EBITDA Reconciliation Note: Numbers subject to rounding ($ USD Millions) Net income $15.7 $11.6 $79.6 $112.7 Provision (benefit) for income tax expense 8.0 5.4 26.8 (32.8) Interest expense, net of interest income 9.6 11.3 30.2 33.3 Depreciation and amortization 31.7 29.1 92.0 91.
Slide 15: Net Leverage Ratio as of Sep 30, 2012 - LTM
Net Leverage Ratio as of Sep 30, 2012 - LTM (1) Includes cash and noncash restructuring. (2) Proportionate share of restructuring costs related to Cooper Standard France joint venture. (3) Non-cash stock amortization expense and non-cash stock option expense for grants issued at emergence from bankr
Slide 16: Adjusted EBITDA as a percent of Sales - LTM
Adjusted EBITDA as a percent of Sales - LTM Note: Numbers subject to rounding (1) Includes cash and noncash restructuring. (2) Proportionate share of restructuring costs related to Cooper Standard France joint venture. (3) Non-cash stock amortization expense and non-cash stock option expense for gra
Cooper-Standard Holdings — Q3 2012 Earnings Presentation on 6ix