Armstrong World Industries Inc · NYSE:AWI
Armstrong World Industries — Investor Day (March 2016)
9 slides from Armstrong World Industries's investor day presentation, Mar 9, 2016
Slide 1: Separation & Business Update
Armstrong World Industries, Inc. Separation & Business Update March 10, 2016 Armstrong competes globally in many diverse markets. References to "market" or "share" data are simply estimations based on a combination of internal and external sources and assumptions. They are intended only to assist di
Slide 2: Safe Harbor Statement
Our disclosures in this presentation, including without limitation, those relating to future financial results guidance and the possible separation of our flooring business from our building products business, and in our other public documents and comments contain forward-looking statements within t
Slide 3: Agenda
Agenda 7:30Registration 8:00Welcome and Separation Overview (Tom Waters, Dave Schulz) 8:15Armstrong Flooring, Inc. Investment Thesis (Don Maier, Jay Thompson) 9:45Break 10:00Armstrong World Industries Investment Thesis (Vic Grizzle, Brian MacNeal) 11:30Wrap Up
Slide 4: Creating Two Independent Industry Leaders
Creating Two Independent Industry Leaders [Armstrong World Industries] Global commercial suspended ceiling solutions provider #1 position in all major markets Industry leading margins and free cash flow generation Poised to deliver margin expansion driven by innovation in premium products and recove
Slide 5: Separation Overview
Separation Overview Exchange / Ticker NYSE: AFI (pending) Key Dates When-issued trading date: March 21, 2016 (est.) Form 10 Amendment filed on February 29, 2016 Distribution date: April 1, 2016 (est.) Tax Impact Expect tax-free distribution under Section 355 and Section 386(a)(1)(D) of the Internal
Slide 6: 2016 Guidance – Normalized EBITDA
Like-for-like, combined 10% growth at the mid-point of the range 2016 Guidance – Normalized EBITDA ($M) 2015 (@ ‘16 FX) 2015 Pro Forma (@ ’16 FX) 2016 YoY Growth AFI - Flooring $101 $61 $65 - $80 7% - 31% AWI - Ceilings $338 $296 $310 - $330 5% - 12% Corporate ($66) - - Total $373 $357 $375 - $410 5
Slide 7: Enhanced Opportunities To Create Value
Operational No significant synergies from operating as combined entity Enhances ability to address unique customer needs Greater opportunity to build stronger and more intimate customer relationships Enhanced Opportunities To Create Value Strategic Increases flexibility to pursue domestic and intern
Slide 8: Appendix
Appendix @mstrong | Inspiring Great Spaces
Slide 9: Reconciliation of 2015 Adjusted EBITDA
Reconciliation of 2015 Adjusted EBITDA The table below provides a reconciliation of 2015 Adjusted EBITDA to Operating Income. Note the 2015 Adjusted EBITDA is based on ‘15 budgeted foreign exchange rates. ($M) AFI AWI Corp Total 2015 Adj. EBITDA @ ‘15 Budgeted FX $112 $345 ($66) $391 FX ($9) ($3) ($
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