Tat Technologies Ltd. · NASDAQ:TATT
Tat Technologies — Cowen and Company's 31st Annual Aerospace & Defense Conference (February 2010)
24 slides from Tat Technologies's conference presentation, Feb 10, 2010
Slide 1: Cowen and Company's 31st Annual Aerospace & Defense Conference
Cowen and Company’s 31 st Annual Aerospace & Defense Conference Investor Presentation Feb.
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may contain certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Generally, the words “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “
Slide 3: Company Profile
Growth over the years Strong balance sheet A source of excellence in developing, manufacturing and maintaining aviation products since 1967 Focus on Heat Management Solutions and Regional Airline Components Strategy-Internal growth, M&A and Partnerships Company Profile Diverse International operatio
Slide 4: Business Operation
Business Operation OEM - Heat Management Solutions MRO- Maintenance Repair and Overhaul
Slide 5: TAT Group - Global Presence
TAT Group - Global Presence OEM ; MRO Engineering center Production lines MRO ; OEM Distribution;
Slide 6: TAT Group - Global Presence
TAT Group - Global Presence MRO ; OEM Distribution; Distribution Centers OEM ; MRO Engineering center Production lines
Slide 7: Market Dimension - Capabilities
Market Dimension - - Capabilities OEM Production After Market Distribution PMA Build To Spec MRO Capabilities • Build to Spec • System Architecture Design • Thermal analysis • Electrical Control Systems Design • Structural design • In house DER • One Stop Shop • PMA • Distribution • Inventory manage
Slide 8: Market Dimension - Product Lines
Market Dimension - - Product Lines OEM Commercial & Defense Flow Control Accessories Heat Management Solutions Motion Systems Heat Exchangers MRO Commercial & Defense Landing Gears APUs Propellers Ducting Part Distribution Supply Chain Management Electrical Motor Applications Air Conditioning System
Slide 9: Heat Management Solutions - OEM
Heat Management Solutions - OEM Bombardier CRJ Cessna Citation Piper Jet Legacy Boeing ATR Sukhoi Super-jet Airbus A340 Boeing Boeing V-22 Commercial
Slide 10: Electric Motion Solutions - OEM
Electric Motion Solutions - OEM Ground Aviation
Slide 11: Freon Cooling Systems - OEM
Freon Cooling Systems - OEM Ground Aviation Defense Commercial
Slide 12: MRO
MRO Heat Exchanger MRO Accessories Defense Commercial
Slide 13: First Aviation Services
First Aviation Services Transaction Benefits: • Strong presence in the General Aviation market • Strong One-Stop-Shop for MRO services • Extended global marketing channels Transaction Highlights : • Piedmont contributed Propellers and Parts businesses • Provides $7M’ guarantee for Kelly acquisition
Slide 14: Balanced operation - by Geography; by Industry
Balanced operation - by Geography; by Industry ( Break down of FY 2008 revenues - 103M$)
Slide 15: Top Tier Customers
Top Tier Customers OEM Air Lines Service centers Air Forces
Slide 16: Recent M&As and Reorganization
Recent M&A’s and Reorganization Bental Industries Limco-Piedmont First Aviation Services Field Electric Motion Systems MRO Parts Distribution & MRO Date May 2008 July 2009 December 2009 Revenues $ (2008) 32M 72M 120M ü Management Change ü Strengthening Honeywell Relations ü Building Marketing Team ü
Slide 17: Financial Highlights
Financial Highlights
Slide 18: Strong & Solid Financials
Strong & Solid Financials 2003 2004 2005 2006 2007 2008 2009 Revenues 30.7 33.2 49.6 77.6 88.7 103 120* • Including 37% of FAvS’ pro-forma revenues (unaudited) ** Unaudited results 37M* 83M**
Slide 19: Strong & Solid Financials - P&L
Strong & Solid Financials - P&L FY 2009 - Restructuring Year Ø Management change Ø Strengthening business relations with Honeywell Ø Limco merger with TAT Ø FAvS acquisition - disposition of Prop and Parts businesses Ø Expanding our marketing team Ø Lean manufacturing processes Q1-Q3 14,781
Slide 20: Strong & Solid Financials - Balance Sheet
Strong & Solid Financials - Balance Sheet Ø Strong, solid ‘working capital’ Ø Impressive ‘debt to total assets’ ratio Ø Available funds for future acquisitions 113,407 125,143 135,930
Slide 21: Market Analysis
Market Analysis • Outsourced share of by • Increased demand for and JV opportunities
Slide 22: TAT Technologies
TAT Technologies Move up the value chain to Systems Expand variety Expand OEM agreements Entering new territories Distribution ‘OEM Production After Market MRO Distribution PMA Expand variety Expand variety
Slide 23: Technologies
Technologies Experienced Management Significant resources for strategic Maa ignificant ‘experiencein : Global Stable customers Technologies Risk Allocation (MROIOEM) Geograf Miltary / Commercial Advanced engineering Technology Significant strength in Specie Tiches
Slide 24: Thank you
Thank you . When it comes to Heat Transfer, nothing is too hot for us.