Cnh Industrial N.v. · NYSE:CNH
Cnh Industrial — Goldman Sachs Fifth Annual European Industrials Conference 2013
30 slides from Cnh Industrial's conference presentation, Dec 3, 2013
Slide 1: CNH Industrial N.V. at Goldman Sachs Fifth Annual European Industrials Conference
Exhibit 99.1 CNH Industrial N.V. Goldman Sachs Fifth Annual European Industrials Conference London - December 2 - 4, 2013
Slide 2: Introduction to CNH Industrial, 2013 Outlook, Sep YTD Results
1 Introduction to CNH Industrial 2 2013 Outlook 3 Sep YTD Results 4 Appendix 2
Slide 3: The debut of a new global leader in capital goods
1 The debut of a new global leader in capital goods th Merger completed on September 29 - the resulting company incorporated in the Netherlands th First day of trading - September 30 , 2013 * • On New York Stock Exchange (“NYSE”) as Foreign Private Issuer and on the Milan Stock Exchange (“MTA”) Comm
Slide 4: Rationale for a Combination
1 Rationale for a Combination STRATEGIC AND CAPITAL MARKETS / OPERATIONAL BENEFITS VALUATION BENEFITS Create a truly global top tier capital goods player Simplify ownership structure Greater scale in developing markets Improve stock liquidity, alleviating CNH’s illiquidity discount to achieve over t
Slide 5: A Global Leader in the Capital Goods Sector
1 A Global Leader in the Capital Goods Sector Uniquely diversified across products and geographies Global top #4 capital goods platform Global top #2 in agricultural equipment Global top #2 in commercial vehicles², ³ Global top tier in construction equipment Leading powertrain technology with substa
Slide 6: Well-Known Brands and Deep Product Portfolio
1 Well-Known Brands and Deep Product Portfolio AGRICULTURAL TRUCKS / CONSTRUCTION POWERTRAIN EQUIPMENT COMMERCIAL VEHICLES EQUIPMENT Brands • Case IH: The premium agriculture • IVECO: Full line of commercial vehicles • Case Construction: Full line offered • FPT: Major global innovator in equipment p
Slide 7: Global Industrial Footprint (Excl. JVs)
1 Global Industrial Footprint (Excl. JVs) EMPLOYEES (Total: ~68k) North America 17% Europe 62% Rest of World 7% Latin America 14% MANUFACTURING FACILITIES R&D CENTERS (Total: 64) (Total: 49) North America 10 Europe 37 North America 13 Europe 28 Rest of World 8 Latin America 9 Rest of World 3 Latin A
Slide 8: Technological Leadership
Technological Leadership 1 Best-in-class Powertrain Capabilities A complete portfolio of state-of-the-art technologies across powertrains and end-products • Leading powertrain offerings, fully compliant with all international emission standards • Affordable yet innovativesolutions for increased prod
Slide 9: Wide Distribution Network
Wide Distribution Network 1 Long-Standing Dealer Relationship GLOBAL DEALERS Global dealer network provides worldwide distribution channel Nearly 6,000 dealers worldwide¹ • ~60 depots distribute aftermarket parts within the dealer network² Dealers’ local relationships are a critical part of the valu
Slide 10: Captive Finance Company
Captive Finance Company 1 Fully-Aligned and Well Capitalized FINANCE COMPANY GLOBAL ORGANIZATION Strategic partner with CNH and IVECO brands Provides a robust suite of financing products for both CNH and IVECO dealers and end- users Provides financing support for CNHI equipment sales while maintaini
Slide 11: Roadmap for new external reporting
1 Roadmap for new external reporting IFRS in EUR US GAAP and IFRS in USD Segment reporting consistent with predecessor’s Subsequent to the filing of EU Annual Report and Form 20-F, Company to disclose (Fiat Industrial) prior quarters • Recast of 2011, 2012 and 2013 IFRS from € to US$ • Agricultural
Slide 12: 2013 Outlook
1 Introduction to CNH Industrial 2 2013 Outlook 3 Sep YTD Results 4 Appendix 12
Slide 13: FY '13E Industry Outlook - units
FY ’13E 2 Industry Outlook - units TRACTORS COMBINES FY 2013E FY 2013E NAFTA 5-10% NAFTA 5-10% Agricultural Equipment EMEA (0-5%) EMEA (0-5%) LATAM 15-20% LATAM 40-45% APAC 5-10% APAC 10-15% Worldwide 5-10% Worldwide 10-15% LIGHT HEAVY FY 2013E FY 2013E NAFTA 0-5% NAFTA (5-10%) Construction EMEA (5-
Slide 14: Sep YTD Results
1 Introduction to CNH Industrial 2 2013 Outlook 3 Sep YTD Results 4 Appendix 14
Slide 15: Sep YTD '13 financial highlights
3 Sep YTD ’13 financial highlights Revenues Net profit 18.8 18.8 (€/bn) 744 747 (€/mn) Up 0.4% vs. last year. Up 4.3% at Up €3mn vs. last year constant currency, as sales increase 0.4% EPS at €0.504 for Agricultural Equipment and Powertrain compensated for lower revenue in Construction Equipment Sep
Slide 16: Performance by segment
3 Sep YTD ’13 financial highlights Performance by segment REVENUES (€MN) TRADING PROFIT (€MN) * Including Financial Services figures London – December 2-4, 2013 Goldman Sachs Fifth Annual European Industrials Conference 16
Slide 17: Revenues growth composition
Sep YTD ’13 3 Revenues growth composition (IFRS, €/mn) Agricultural & Construction Equipment * Trucks & Commercial Vehicles * Powertrain Sensitivity Analysis – Sep YTD 2013 Revenues impact (€/mn) Stronger Weaker Sep YTD '13 Foreign Currency Foreign Currency Average FX vs. EUR by 10% vs. EUR by 10% U
Slide 18: From trading profit to net result
3 Sep YTD ’13 From trading profit to net result (€mn) Sep YTD 2012 Sep YTD 2013 ? Trading profit 1,628 1,549 (79) Unusual items, net (140) (69) 71 Operating income 1,488 1,480 (8) Financial charges, net (334) (344) (10) Investment income, net 66 71 5 Profit before taxes 1,220 1,207 (13) Taxes (476)
Slide 19: Cash Flow – change in Net Industrial Debt
3 Sep YTD ’13 Cash Flow – change in Net Industrial Debt €2.5bn compared with €1.6bn at Dec-end 2012, with positive operating performance offset by a seasonal increase in working capital, sustained capital expenditures (mostly due to new product related initiatives), dividend payments and currency ef
Slide 20: Tangible & Intangible Capex at €844mn
3 Sep YTD ’13 Tangible & Intangible Capex * at €844mn BY CATEGORY MAIN INDUSTRIAL PROJECTS AG • China • Foshan and Urumqi plants officially inaugurated in July and August, for sugar cane harvesters and Case IH cotton pickers • Harbin, R&D center officially inaugurated in September • Argentina – Cord
Slide 21: Balance Sheet and Liquidity position
3 September-end ’13 Balance Sheet and Liquidity position Available Strong available liquidity profile at Debt Maturity Schedule¹ (€bn) Liquidity (€bn) €4.9bn as of 9/30/13: €4.9 • €3.3bn of cash ² €1.6 • €1.6bn undrawn under medium- term committed unsecured credit lines Well distributed debt maturit
Slide 22: Recent Product Launches
3 Recent Product Launches Tier 4B T7, T8 and T9 tractors in NA 18 new tractor models in NA that meet Tier 4 emissions Sitevi Gold Medal for the Opti-Grape™ standards • Steiger Quadtrac 620 and new models of Magnum and Agricultural technology in Europe Maxxum tractors Equipment Two Agritechnica Silve
Slide 23: Growing Responsibly and Sustainably
3 Growing Responsibly and Sustainably CNHI ranked by DJSI as Industrial Engineering sector leader in 2013 for third consecutive year Our Score Economic 38% Weighting Highest score DJSI World – Industrial Engineering of total score Average score Eligible companies: 98 Admitted companies: 12 Our Compa
Slide 24: Appendix
1 Introduction to CNH Industrial 2 2013 Outlook 3 Sep YTD Results 4 Appendix 24
Slide 25: Trading mechanism
4 Trading mechanism CNH Industrial- common shares CNHI common shares are listed in the United States and Italy and can be Because MT maintains a participant account within DTCC, investors can traded on either the NYSE in US Dollars or MTA, managed by Borsa request their broker/financial intermediary
Slide 26: Net debt breakdown
4 Net debt breakdown (IFRS / €bn) Dec. 31, ’12 Sep. 30, ’13 Cons. Ind. Fin. Cons. Ind. Fin. 20.6 4.6 16.0 Gross Debt* 21.3 4.7 16.5 - - - Derivatives M-to-M, Net (0.1) (0.1) 0.0 (4.6) (2.9) (1.7) Cash & Mktable Securities (3.3) (2.1) (1.2) 16.0 1.6 14.3 Net Debt 17.9 2.5 15.4 * Net of intersegment r
Slide 27: Gross debt
Gross debt 4 (IFRS / €bn) Outstanding Outstanding Dec. 31, ’12 Sep. 30, ’13 10.9 Cash Maturities 11.2 5.2 Bank Debt 5.7 5.6 Capital Market 5.2 0.2 Other Debt 0.2 9.7 Securitization and Sale of Receivables (on book)* 10.1 7.5 ABS / Securitization 8.3 0.5 Warehouse Facilities 0.6 1.6 Sale of Receivabl
Slide 28: Debt maturity schedule
Debt maturity schedule 4 (IFRS / €bn) * With a residual tenor greater than 12 months Note: Numbers may not add due to rounding London – December 2-4, 2013 Goldman Sachs Fifth Annual European Industrials Conference 28
Slide 29: Safe Harbor Statement
Safe Harbor Statement Certain statements contained in this document that are not statements of historical fact constitute forward-looking statements, notwithstanding that such statements are not specifically identified. Words such as “forecast”, “projection”, “outlook”, “prospects”, ”expected”, “est
Slide 30: Group Investor Relations Team
Contacts Group Investor Relations Team Manfred Markevitch – Head of Investor Relations +41 (91) 985 -3801 Federico Donati +39 (011) 00 -62756 Noah Weiss +1 (630) 887 -3745 e-mail: investor.relations@cnhind.com website: www.cnhindustrial.com London – December 2-4, 2013 Goldman Sachs Fifth Annual Euro
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