Gentherm Inc · NASDAQ:THRM
Gentherm — Q2 2023 Earnings Presentation
12 slides from Gentherm's earnings presentation, Aug 1, 2023
Slide 1: 2023 Second Quarter Results
2023 Second Quarter Results August 1, 2023 Proprietary © Gentherm 2023
Slide 2: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures* In addition to the results reported herein in accordance with GAAP, the Company has provided here or may discuss on the related conference call Adjusted Operating Expense, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EPS, Free Cash Flow, Net Debt, organic rev
Slide 3: Forward-Looking Statement
Forward-Looking Statement Except for historical information contained herein, statements in this presentation are forward-looking statements that are made by Gentherm Incorporated (the “Company”) pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All stat
Slide 4: Automotive Highlights
Automotive Highlights Tank 700 Blazer EV 20 Verna Vehicle launches with 10 OEMs Multiple CCS® Launches Buick LaCrosse, Buick E4 EV, Hyundai Verna, Chevrolet Blazer EV, Ford Mustang, Great Wall Tank 700, Blue Mountain SUV Mustang Blue Mountain SUV E4 EV ClimateSense® launch preparation progressing we
Slide 5: New Automotive Business Awards $670M
New Automotive Business Awards $670M in awards in 2Q Multiple CCS® Awards from: BMW | GM | Ford | Honda | Hyundai | Li Auto Subaru | Great Wall | VW | XPeng 11 Breakthrough lumbar and massage Steering Wheel Heater awards across system awards with Stellantis 7 OEMs including hands-on-detection enable
Slide 6: Medical Highlights
Medical Highlights Strengthening our partnership with SourceMark Medical, a certified minority supplier headquartered in Nashville, Tennessee 24 New hospital accounts in Blanketrol III Awards with the China as a result of the Boston Children’s Hospital and successful integration of Children’s Health
Slide 7: Select Income Statement Data
Select Income Statement Data Three Months Ended June 30 Six Months Ended June 30 (Dollars in thousands, Pro forma Pro forma except per share data) 2023 2022 2022 (1) 2023 2022 2022 (1) Product Revenues $ 372,323 $ 260,715 $ 318,341 $ 735,948 $ 528,372 $ 652,097 Automotive 361,533 249,152 306,778 714
Slide 8: Select Balance Sheet Data
Select Balance Sheet Data (Dollars in thousands) June 30, 2023 December 31, 2022 Cash and Cash Equivalents $ 168,671 $ 153,891 Total Assets 1,244,047 1,239,300 Debt 218,125 235,096 Current 684 2,443 Non-Current 217,441 232,653 Revolving LOC Availability 282,732 264,904 Total Liquidity 451,403 418,79
Slide 9: 2023 Guidance
2023 Guidance 2022 A 2022 Pro forma(4) 2023 E Product Revenue (1)(2) $1.2B $1.3B $1.45B - $1.55B Adjusted EBITDA Margin (1)(2)(3) 11.4% 10.4% 11.5% – 13.5% Adjusted Effective Tax Rate (5) 36% 28% - 32% Capital Expenditures $40M $46M $60M - $70M (1) Based on the current forecast of customer orders, i
Slide 10: Appendix
Appendix Proprietary © Gentherm 2023
Slide 11: Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin
Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin Three Months Ended June 30 Six Months Ended June 30 (Dollars in thousands) 2023 2022 2023 2022 Net (Loss) Income $ (1,551) $ 7,072 $ 6,412 $ 18,819 Add Back: Income Tax Expense 4,842 3,919 8,570 8,214 Interest Expense, net 1,932 1,430 6,07
Slide 12: Reconciliation of Adjusted EPS
Reconciliation of Adjusted EPS Three Months Ended June 30 Six Months Ended June 30 2023 2022 2023 2022 Diluted EPS - As Reported $ (0.05) $ 0.21 $ 0.19 $ 0.56 Acquisition and Integration Expenses 0.04 0.11 0.09 0.21 Non-Cash Purchase Accounting Impacts 0.07 0.05 0.13 0.11 Unrealized Currency (Gain)